The paper "Rocks and Bands: A Project Management Decision-Makin Game" is an outstanding example of management annotated bibliography. With respect to Rocks and Bands, a project Management Decision-Making Game, the issue entails proper project management where time, cost and work allocation is paramount. Completing the project in the set time lowers costs linked to the project. Despite having only for workers, all the project tasks must be completed in ten weeks to save on cost and uphold reliability for execution ability. The four workers available for the project tasks can be used to perform other tasks rather than be absorbed in the project every week.
This is because the company charges the project manager two hundred dollars every week for every work that the manager uses for his project. Additionally, the project manager will be charged 300 dollars per week for any extra worker he uses in his project. More importantly, failure to complete the project within the stipulated time, the project manager will be charged 2000 dollars per week because of the loss of goodwill and increased negative publicity.
The case study stimulation also questions the effectiveness of employing more workers to complete the projects in less time. Employing more workers instigates increased coordination which calls for overtime by workers which may subsequently cause the project manager extra 100 dollars per week. Although increasing workers to ensure that the project is completed within less time may lead to a quick completion of project tasks, it may raise the project costs. From the case study stimulation, I learnt that an experienced project manager must coordinate and organise his/her project tasks properly to prevent delay, extra requirement and to improve efficiency and credibility for aptitude to implement a project.
Failure to properly manage project tasks leads to reputation damage due to project delays, and as such project managers must plan their project well and be as effective as possible to ensure timely project completion. I have learnt that time management in a project is crucial as it facilitates the completion of projects within the set deadline. This is because overdue projects are pricey and in most instances, useless. Moreover, belated projects do not only lead to loss of materials and loss on implementation cost but also trigger loss of trustworthiness for completing ability.
In this regard, cost and time management is are noteworthy skills in project management and in life. Time management is for all objective and purposes concerned on spending minutes and hours as resourcefully as possible. Nevertheless, unmatched time management entails integration of some elementary techniques, common sense and practice. These aspects facilitate the development of exceptional working habits that promote efficiency in any project work. Time management in project management is not optional as proper time management facilitates timely project implementation.
However, time management in project work must go hand in hand with effective human and physical resource management. For any project manager wishing to work efficiently, consideration of human, physical and time management is paramount. Particularly, proper project management is a prevailing aspect that distinguishes individuals of equal abilities and talents by this means making them thrive in their projects. In this view, proper project management calls for arrangement, organization, accounting and scheduling of time to produce more well-organized work and output.