The Hexagon of Excellence Assignment Example | Topics and Well Written Essays - 500 words

The Hexagon of Excellence - Assignment Example When there is effective communication, teamwork and trust, the organization is headed for excellence. With increased trust, project funding can be brought down from the executive level to intermediate management (Schein, 2010). This characteristic reduces the cost and time of methodology execution. Training and education is a significant aspect that has both quantitative and qualitative results. Quantitatively, the product development time is shortened while higher quality decisions are made faster. The cost of project is lowered through a reduction in paperwork and the number of people involved while higher profit margins are realized. Qualitatively, there is improved visibility and emphasis on results with enhanced coordination. The morale of workers increases resulting in improved customer relations (Kerzner, 2005). Training and education are necessary to maintain a competitive workforce. The strategy helped the previous employer to maintain innovativeness in project implementation, which continuously made work easier, less expensive and also boosted the morale of employees. There was a project management curriculum that was reviewed annually to incorporate new areas of competence. It contained a core competency prototype for the elementary and advanced abilities that a project manager was required to possess. All the training programs were focused on supporting the core competency skills. Moreover, trainings were conducted regarding ethical behaviour within the company as well as when interacting with customers. Project managers were also taught on decent business practices. Project management executives were also involved in senior managers’ workshops and trainings designed to enhance maturity of project management (Rothaermel, 2012). Organizations lose huge sums of money through wasted project spending leading to low shareholder value. A major factor contributing to such losses is failure to align projects with corporate