QUESTION ONE [40] Read the following and answer the questions below Six letters that spell project management successful for IBM IBM is the world's largest technology services company and is ranked by Business Week as possessing the most valuable technology brand in the wortd. ahead of Microsoft and Google. And if you look inside the success of the world's most famous acronym, you'll find two others at work: R.E.P. and PMP. IBM has been a PMI Registered Education Provider (R.E.P.) for ten years. It currently employs more people with the Project Management Professional (PMP) credential than any other organisation in the world. Read on to learn how participation in the REF. program and employing PMP credential holders help IBM deliver tangible value to their business, from increasing operational efciency to aiding business development. THE NEED FOR CHANGE For almost a century. IBM has shaped the way business works. But by the early 1990s, consecutive years of billion-dollar losses led some to conclude that it would become a casualty of the personal computer revolution that it had helped create. IBM senior management determined what it would take to succeed in a world where customers wanted integrated solutions, rather than individual products. THE NEED FOR PROJECT MANAGEMENT They identied project management as \"the key to reliably delivering commitments\" and the lack of it as \"a major factor in failure, contributed to by the entire organisation.\" They declared IBM a \"Project-based Enterprise,\" one whose success relied upon project management providing tangible benefits in two areas: making internal operations more efficient and providing external value to its customers. THE NEED FOR EXCELLENCE In order to achieve this transformation, they created the Project Management Centre of Excellence (PM-COE), which would work with senior executives, business units and individual employees to establish project management as a core competency across their global enterprise. Their first challenge? Creating a single consistent global project management approach, the IBM Worldwide Project Management Method (WWPMM). Their rst stop? A Guide to the Project Management Body of Knowledge (PMBOK Guide), to provide its foundation. fundamental eligibility requirement for their internal program. Since then, they have seen the value of this decision borne out, time and again. . Performance: 90 percent of IBM's PMP@ certified project managers report that the certification helps them in their jobs. . Profitability: The number of troubled projects with documented root causes in project management has decreased by 25 percent. . Growth: "Corporations recognise PMI certification as the standard for the skills and expertise that a project manager needs to have," says John Marrine, Worldwide Project Management Profession Leader at the PM-COE. "They'll ask us how many PMP credential holders you have. Do you have PMPs with experience in our line of business that can be put on this project?" Reference: IBM (2019), R.E.P and PMP, Six letters that spell project management successful for IBM. https://www.pmi.org/-/media/pmi/documents/public/pdf/case-study/ibm.pdf [Accessed on 17 of April 2019] Questions: 1.1 Discuss a project management approach to the three areas identified by IBM, namely Performance, Profitability and Growth. (25)