Section 3 - PMO RecommendationsThe purpose of the Portfolio Project is to synthesize current research about the project management office (PMO) for the purpose of developing a PMO recommendation. The
Running head: RECOMMENDATION FOR ADVANCEMENT OF AN EXISTING PMO 1
Subject Organization and Rationale
Recommendation for The Advancement of An Existing PMO
Woodrow Rowell
6/22/2020
Organization Information
The Coca-Cola Company is an American based multinational company, operating in the beverage industry. It has got its headquarters in Atlanta, Georgia, and has been in operations since 1889. The company is involved in the manufacturing and distribution of carbonated,
nonalcoholic beverage concentrates, and syrups. The company operates in the beverage industry. The company does not have specific demographics at the market, as it aims at serving all people, irrespective of their age, sex or gender, culture, etc. (Coca Cola, 2020).
Coca Cola company has the mission of refreshing the whole world, considering key elements like bodies, minds, and spirits, besides making sure that people are happy. The company uses its brands, actions, and value creation to make a difference in peoples’ lives. The vision of the company is to create brands and dinks, which ae in accordance with the needs of the customers, thus refreshing them. Besides, it aims at creating business sustainability, while impacting people and the environment positively (Coca Cola, 2020).
The mission and vision statements of the company defines its organizational culture. Coca Cola has got a collaborative culture that focuses on satisfying customers while taking care of other stakeholders and the physical environment. Besides, the culture is value-based and focuses on creating value and differentiation its products and services at the market through the adoption of modern technology.
Coca Cola’s operations are guided by core values such as quality, excellence, integrity, and Respect. In the Quality value, the company works at ensuring that it has offered products and services of the highest quality at the market place. Safety is highly guaranteed, and quality standards are not comprised at any given point. Under Excellence value, the company is always devoted to achieving beyond expectations and aims at being the leading company in the beverage industry. The Coca-Cola Company ensures high levels of integrity, as it focuses on doing the right things, even if no people are watching over them. The firm strongly believes that integrity establishes the base of business sustainability by creating positive relationships with all stakeholders. The last value is Respect. The company focuses on respecting all its stakeholders, including; the diverse team of associates, consumers, customers, shareholders, environment, and communities. Coca Cola operates as a united family (Coca-Cola, 2020).
Coca Cola is headed by a CEO and does not have executive sponsors. Being a public company, its key stakeholders are the shareholders, potential investors, management, employees, suppliers, customers, suppliers, regulatory authorities, and the general community. All those parties have got specific needs and interests, which they anticipate being fulfilled through the company’s operations (Brownlee et al., 2017).
PMO Business Case
Coca Cola has been carrying out various projects, in which some are for benefiting the communities, e.g., water projects and others are for enhancing its growth and development. The company has undertaken various projects, including new product lines and entry to new counties, using multiple project management methods and tools.
In the case of the project management methods, the company applies the waterfall method whereby the projects are planned fully before they are started. Upon planning, the projects are then divided or broken down into phases, which can be easily managed. The company also applies lean method and ensures that past processes and procedures which have ended up being successful, have been effectively followed, when undertaking new projects. Adhering to such processes eliminates the possibility of trials and errors, thus minimizing wastage. The agile method is widely applied in Coca Cola projects, where all project variables are predicted from the start. The company couples the waterfall and the agile method to come up with information on what is most likely to occur during the project execution and implementation.
Coca Cola company makes good use of multiple project management tools in its projects. Gannt charts are used together with the Waterfall method, and aids in the process of ensuring that the project has been broken down into reasonable phases or stages, which can be implemented with high levels of success. WBS Chart, a project management tool that aids in breaking down the entire process into small tasks, is also used. Time makes a crucial resource in every project. The company uses a PERT chart to ensure that the start and end times have been allocated to the obtained project phases. The tool helps in minimizing the possibility of a large deviation in terms of time by ensuring that each activity has been completed within the allocated time. Calendars are also used in tacking the project execution process in days, weeks, and months (Kristiansen & Ritala, 2018).
Coca Cola’s experience in managing projects is beyond comparison. The company has undertaken many huge projects with great success. Its product and brands do not have proper substitutes or close rivals at the market up to date. Currently, Coca Cola is serving almost every county in the world, credit to its experience in managing projects. Coca Cola has realized a full project management maturity, considering that it has met the necessary standards and requirements, to be classified as such. The company has been implementing its projects within its plans and with high-efficiency levels (Steele et al., 2019).
Perceived PMO Benefits for The Organization
Coca-Cola stands to benefit immensely if it considers improving or enhancing its PMO. The company is most likely to realize its mission and vision of gaining business sustainability while creating value, meeting customers’ needs to satisfaction, and achieving a difference in the market. In the long run, the company is most likely to grow in size (physical size and number of products), and meet the goal of optimal shareholder wealth maximization.
Within the first year, specific goals likely to be achieved by the company include increased market share, increased sales, reduction in costs, and increased profitability. An increase in market share will be measured by determining the number of new customers purchasing the company’s products. Metric used in measuring the sales will be either dollars or units. An increase in sales volumes in terms of the monetary value or units sold will suggest growth in sales. In the case of reduction, present costs will be compared with past costs, besides comparing unit costs and costs incurred in various projects. An increase in profitability will be indicated by the quarterly income statements, where a comparison will be made over the whole year. Positive change in profitability from one quarte to the other will indicate that the company is doing good in terms of profitability.
In both the short and long run, the company is going to generate huge benefits by improving the PMO. Organizational, operational efficiency will be realized, which will form the basis for increased productivity levels. Besides, the company will be in a position of executing its future projects within the right time, and without adverse variations in time, costs and material usage (Ul Musawir et al., 2017).
References
Brownlee, E. R., Dmytriyev, S., & Elias, A. (2017). Integrative Stakeholder Engagement: Stakeholder-Oriented Partnership Between the Coca-Cola Company and World Wildlife Fund. In Stakeholder engagement: Clinical research cases (pp. 339-367). Springer, Cham.
Kristiansen, J. N., & Ritala, P. (2018). Measuring radical innovation project success: typical metrics don’t work—Journal of Business Strategy.
Steele, S., Ruskin, G., McKee, M., & Stuckler, D. (2019). “Always read the small print,”: a case study of commercial research funding, disclosure, and agreements with Coca-Cola. Journal of public health policy, 40(3), 273-285.
The Coca Cola Company. (2020). Available at https://www.coca-cola.com/
Ul Musawir, A., Serra, C. E. M., Zwikael, O., & Ali, I. (2017). Project governance, benefits management, and project success: Towards a framework for supporting organizational strategy implementation. International Journal of Project Management, 35(8), 1658-1672.
