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The document discusses 16 different types of management including project management, human resource management, strategic management, sales management, marketing, operations management, supply chain management, procurement management, financial accounting, IT management, R&D management, engineering management, program management, risk management, quality management, and knowledge management.

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30 views

Assignment # 1: Subject Class Reg# Submitted To: Submitted by

The document discusses 16 different types of management including project management, human resource management, strategic management, sales management, marketing, operations management, supply chain management, procurement management, financial accounting, IT management, R&D management, engineering management, program management, risk management, quality management, and knowledge management.

Uploaded by

mjunaid
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Assignment # 1

Subject Engineering Management

Class Chemical Engineering


(7th Semester)

Reg# 2016-CH-405

Submitted To: Sir Farhan

Submitted By: Saqib Sabir

University of Engineering & Technology, Lahore


Management Types

What is Management?

Management is doing things right. It's the discipline of planning, organizing, leading and controlling an
organization.

Management has many faces. That is to say that managers have many styles and management has many
types.

1) Project management
Project Management is the application of knowledge, skills, tools, and techniques to project activities to
meet the project requirements.
It has always been practiced informally, but began to emerge as a distinct profession in the mid-20th
century. PMI’s A Guide to the Project Management Body of Knowledge (PMBOK ® Guide) identifies its
recurring elements:
Project management processes fall into five groups:

1. Initiating
2. Planning
3. Executing
4. Monitoring and Controlling
5. Closing

2) Human resource management (HRM)

Human resource management (HRM) is the practice of recruiting, hiring, deploying and managing an
organization's employees. HRM is often referred to simply as human resources (HR). A company or
organization's HR department is usually responsible for creating, putting into effect and overseeing
policies governing workers and the relationship of the organization with its employees. The term human
resources was first used in the early 1900s, and then more widely in the 1960s, to describe the people who
work for the organization, in aggregate.
3) Strategic management
Strategic management is the continuous planning, monitoring, analysis and assessment of all that is
necessary for an organization to meet its goals and objectives. Fast-paced innovation, emerging
technologies and customer expectations force organizations to think and make decisions strategically to
remain successful. The strategic management process helps company leaders assess their company's
present situation, chalk out strategies, deploy them and analyze the effectiveness of the implemented
strategies.

4) Sales management

Sales management is the process of developing a sales force, coordinating sales operations, and
implementing sales techniques that allow a business to consistently hit, and even surpass, its sales targets.

5) MARKETING

"Marketing management is 'the art and science of choosing target markets and getting, keeping, and
growing customers through creating, delivering, and communicating superior customer value' (Kotler and
Keller, 2008: 5)."

The concept reviews the process used to determine what products or services may be of interest to
customers and the strategy to use for marketing mix. It also explores the process of understanding,
creating and delivering value to targeted business markets and customers.

6) Operation Management

Operations management is the administration of business practices to create the highest level of
efficiency possible within an organization. It is concerned with converting materials and labor into goods
and services as efficiently as possible to maximize the profit of an organization. Operations management
teams attempt to balance costs with revenue to achieve the highest net operating profit possible.

7) Supply Chain management

Supply chain management produces benefits such as new efficiencies, higher profits, lower costs
and increased collaboration. SCM enables companies to better manage demand, carry the right amount of
inventory, deal with disruptions, keep costs to a minimum and meet customer demand in the most
effective way possible. These SCM benefits are achieved through the appropriate strategies and software
to help manage the growing complexity of today's supply chains.
8) Procurement management 

Procurement management  is one such form of management, where goods and services are
acquired from a different organization or firm. ... Procurement management is known to help an
organization to save much of the money spent when purchasing goods and services from outside.

9) Financial accounting

Financial accounting  reports on the results of an entire business. ... Financial accounting is oriented
toward the creation of financial statements, which are distributed both within and outside of a
company. Managerial accounting is more concerned with operational reports, which are only distributed
within a company.

10) IT management

Information technology management (IT management) is the process whereby all resources related to
information technology are managed according to an organization's priorities and needs. This includes
tangible resources like networking hardware, computers and people, as well as intangible resources like
software and data. The central aim of IT management is to generate value through the use of technology.
To achieve this, business strategies and technology must be aligned.

11) R&D management 

R&D management  is the discipline of designing and leading R&D processes, managing


R&D organizations, and ensuring smooth transfer of new know-how and technology to other groups or
departments involved in innovation.

12) Engineering management

Engineering managementis a career that brings together the technological problem-solving ability
of engineering and the organizational, administrative, and planning abilities of management in order to
oversee the operational performance of complex engineering driven enterprises. Engineering
management is a career that brings together the technological problem-solving ability of engineering and
the organizational, administrative, and planning abilities of management in order to oversee the
operational performance of complex engineering driven enterprises.

13) Program management 

Programme management is the process of managing several related projects, often with the intention of
improving an organization's performance.

14) Risk management


Risk management is the identification, evaluation, and prioritization of risks followed by coordinated and
economical application of resources to minimize, monitor, and control the probability or impact of
unfortunate events or to maximize the realization of opportunities.

15) Quality management


 Quality managementis the act of overseeing all activities and tasks needed to maintain a desired level of
excellence. This includes the determination of a quality policy, creating and
implementing quality planning and assurance, and quality control and quality improvement.

16) Knowledge Management


Knowledge management enables the identification, creation, representation, distribution and use of
knowledge. In a knowledge driven economy, this has become a critical field.
References:
John Spacey.(2015,December 04). Management . Retrieved from https://management.simplicable.com

Michael Armstrong(2001).A Handbook of Human Resource Management Practice, New york

Nick Jenkins(2019). Management types. Retrieved from https://searchcio.techtarget.com

https://www.kbmanage.com

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