All projects, even those which are rather mundane and consist of using already existing technologies to manufacture or design a product are exposed to a variety of risks including technical risks, economic risks, social risks, production risks, financial risks and human risks.
Hence, there is no single project management recipe which would have fixed it and it cannot even be considered to be a failure in terms of specifications because it did produce the aircraft which performed.
However, such commercial failures have not just been experienced in the United Kingdom and similar attempts have been made to sustain innovation in many other countries.
Hence, Concorde failed, not because of any design errors or flaws in technology, but because the operating cost of the technological system was in excess of what the market could sustain to support its operations. When governments have strongly supported the development of a national technology, it is also important to subsidise the development of the technology with regard to scale economies and development of exports so that the initial investment can be recouped.
In an attempt to fond suitable sources for reference from published material related to the applications of project management theory to the management of projects associated with innovation and high technology as well as the views of managers and eminent researchers who have produced material of relevance to the management of British government projects, extensive searches were conducted for the material from British libraries using the COPAC library search engine www.
It is important that lessons learnt from expenditure of public funds be made available to national industry so that it can benefit from the expenditure of these funds.
The Concorde project which was undertaken in collaboration with France never sold the three hundred planes which were required to be sold in order to recoup the investment made and the recent E-University project is also regarded as being a commercial failure.
APA Journal Summer In the Concorde project, the management pf project communications and risks were particularly challenging and it is very likely that the project scope forced a locking up of the project into the wrong technologies.
Conclusion The mission - oriented technology innovation projects which governments of advanced countries have indulged in the last decades have acted as a means of stimulating the creation of new technology and upgrading the capability of the national industry.
There is a distinction between prediction and generalisation. It is also important to gain an understanding of the context in which project management theory can be applied to the management of projects along with the results of actual experimentations in real life.
The huge project deficit was funded by the British and French governments and provided as a gift to their industry and technologists, who went on to work on the Airbus project which is a commercial success. Pilot studies have been mentioned in the literature as a way of minimising full project risks.
Celebrating an Aviation Icon. The Concorde Supersonic Transport Aircraft project which was a joint Anglo - French undertaking has been described as being a technological triumph, but a commercial disaster.
The British government, like other governments, has tried to sustain innovation and the development of new technologies which are likely to be of benefit to the British industry.
Britain, however, withdrew from the Horizon project because of "unfocussed management and the high price of the warship" Hartley,Pp 1 - 5.
It is very possible that such design reviews were undertaken but it may very well have been decided that it was worth its while to continue with the project because it was delivering new technology and a product which was acceptable risk for sales.
Literature abounds with treatises on the application of project management theory to the management of research projects. The management of quality in new product development is something which has been researched and this concept is an integral part of new product development in highly successful global companies such as Nokia.
The British government has also been concerned about realizing the economic potential of publicly funded research. As a purely business concern, the Concorde failed because it could not pay for itself.
This would have meant that the whole global aviation industry had turned a new page.
Publications related to the application of project management theory and the implications of modern project management techniques for the management of United Kingdom innovation and technology projects were also searched using the COPAC library search engine.
Most of the projects that have been criticized as being failures were at the leading edge of technology and involved risks which no commercial organization was prepared to accept. There should be a greater emphasis on this in the public sector in which innovation is driven more by processes such as creating partnerships and introducing new technology.Open Document.
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Concorde Project Essay project success. Since each individual or group of people who are involved in a project have different needs and expectations, it is very unsurprising that they interpret project success in their own way of understanding.
The Concorde project and later the E-University project indicate that there is a need for establishing project milestones and review points when the performance of a project should be reviewed. The project managers must ensure that the organisational culture is changed so that those involve with the project better understand that there is a.
The Concorde project Essay by paczka, University, Master's, B, November download word file, 21 pages download word file, 21 pages 1 votes5/5(1). The Concorde project had many continuous slippages that made the project to go out of control in terms of cost and time. As instead of 4 years with pre estimated £ million cost, the project took 14 years and £ million as the cost of the project.
Concorde project Essay by vinaypatil85, University, Master's, A, March download word file, 13 pages download word file, 13 pages 0 votes.Download