 Course Code :FIN-3601

 Course Title: Project Management

 Submitted by,
 Name:Ram Chandra Das
 ID:EB173012
 Cell:01867296642
 Mail:ramchd0@gmail.com
 Submitted to,
 Md.Amjad Hossain

Abstract:
Bangladesh has a glorious history of producing jute and jute products. Adamjee jute mill is the largest
jute mill in the world. It was established in 1950. But unfortunately it was closed in 2002 because of
mismanagement, corruption, and labors strike. The  people of adjacent  areas were totally dependent
on Adamjee jute mill. After the closure of Adamjee jute mill huge number of worker become jobless. The
objective of the study is to revitalize Adamjee jute mill because of increasing  demand  of  jute  in  the 
world  market  as  well  as  to  recover  the  glorious  history  of producing jute and jute products and to
improve economy of the country. Revitalization is most viable for Adamjee jute mill because of available
raw material, cheap labor and local people’s positive attitude towards revitalization. The industry will be
run under the control of Bangladesh Jute Mill Corporation. If the industry runs smoothly without
mismanagement and corruption, then the revitalization of Adamjee jute mill will certainly have positive
impact on the economy of the

country and it will expose as a boons for the people of the country.

Keywords: Revitalization, Golden fiber, Industrial Zone, Residential Zone, Common Zone

INTRODUCTION:

Adamjee  Jute  Mill  is  situated  at  Narayanganj, known  as  the  Dundee  of the  East,  a  renowned jute 
market.  The  number  of  industry  units  at Narayanganj,  as  recorded  by  the  Bangladesh Bureau of
Statistics, is 2,409. It was the world’s largest jute mill. It was established in 1950 by Adamjee brothers of
Calcutta. The mill became an abandoned property in 1971 and its ownership as    well    as   
management    was    vested    on Bangladesh Jute Mills Corporation in 1972. But, due  to  the 
administrative  failure  of  the  mill,  it started incurring losses. Because of continuous losses  incurred 
by  the  mill   every  year,  the government  closed it on 30 June 2002.   In the recent  years  the  demand 
for  raw  jute  and  jute

products  has  increased  worldwide  and  also  in Bangladesh because of the consciousness about
environment. The enclosure of the Adamjee Jute Mill made a vast vacant area of 327 acres. This land   
has    huge    potentiality    for    industrial development  and  increasing  demand  of  jute  in world
market stimulates to run this study.

Roles and Responsibilities of Matrix Organizational Structure:

A hierarchy is followed within the matrix structure. Given below is that the proper sequence of the flow
of data , i.e., within the downward direction:Roles and Responsibilities during a Matrix Organizational
Structure

Matrix Leader: The matrix is usually lead by the company’s head or the CEO.

Matrix Managers: This team of functional and project managers work under the CEO. they're liable for
the timely performance of the assigned task by the matrix employees.

Matrix Employees: All the opposite people that report back to the twin bosses (i.e., the functional and
therefore the project managers) and work under their guidance are termed as matrix employees.

Characteristics of Matrix Organizational Structures:

The principal trait of a matrix structure is its complexity. Therefore to simplify this idea , allow us to
understand a number of its other characteristics Features of Matrix Organizational Structure

Two Bosses: during a matrix organizational structure, the subordinates need to report back to two
superiors, one is that the functional manager, and therefore the other is that the project manager.

Resource Allocation: The aim of choosing a matrix structure is to make sure the very best possible
utilization of human resource.

Multi-project Suitability: When a business has limited personnel and various projects to handle directly ,
it can choose a matrix organizational structure to simplify the task.

Task Specialization: When the managers concentrate more on their a part of operations, they have a
tendency to concentrate on particular areas. When the project manager takes care of the executive
functions, the functional manager takes care of the technical elements.
Hybrid Structure: it's the amalgamation of the 2 organizational structures, i.e., the functional and
therefore the project.

Matrix Structure Example:

Let us take the illustration of an electronics manufacturing company, which is presently performing on
four different projects, each having its project manager (who are the senior engineers within the team).
However, the corporate features a single team of functional managers to seem after the operations. The
organization features a matrix structure to handle all the projects effectively. Therefore, each executive
works under his/her respective project manager, along side the functional manager. Here, we've the
company’s CEO because the ‘matrix leader’. Functional and project managers are often collectively
referred to as matrix managers. Also, the varied executives working under these managers are termed
as matrix employees.

Matrix Organizational Structure Diagram:

The given diagram will help us to work out the structural design of the matrix organization mentioned-
above:Matrix Organizational Structure Diagram

Types of Matrix Structure:

The matrix structure is very flexible and may be modified consistent with organizational needs. It are
often classified in terms of the distribution of power and authority, into three different types:

Types of Matrix Organizational Structure

Functional or Weak Matrix Organization:

As we call it, a functional structure, the functional manager exercises the utmost control over the
budget, personnel and other resources of the projects. Thus, limiting the responsibilities of the project
manager to the coordination and administration of the team. For instance; the assembly companies or
business usually have a weak matrix organizational structure.

Balanced Matrix Organization

In this sort of structure, proper coordination exists between the functional manager and therefore the
project manager. The authority and power are evenly allocated to both of them. Both of them equally
participates within the decisions related to the allocation of the budget and extra resources.

Strong Matrix Organization

In a strong matrix organization, the project manager holds the arbiter of decision-making in terms of the
budget and other resources of the actual project. However, the functional manager doesn't much
control over the project-related decisions. For instance; this sort of structure is usually prevalent within
the manufacturing and production companies.

Risk management of Adamjee Jute Mills after reopening:

Risk management is a crucial business practice that helps businesses identify, evaluate, track, and
mitigate the risks present within the business environment. Risk management is practiced by the
business of all sizes; small businesses roll in the hay informally, while enterprises codify it. Businesses
want to make sure stability as they grow. Managing the risks that are affecting the business may be a
critical a part of this stability. Not knowing about the risks which will affect the business may result in
losses for the organization. Being unaware of a competitive risk may result in loss of market share, being
unaware of monetary risk may result in financial losses, being conscious of a security risk may result in
an accident, and so on.

The Steps to spot and Manage Risk:

Step 1: Identify the danger

The first step is to spot the risks that the business is exposed to in its operating environment. There are
many various sorts of risks – legal risks, environmental risks, market risks, regulatory risks, and far more.
it's important to spot as many of those risk factors as possible. during a manual environment, these risks
are noted down manually. If the organization features a risk management solution employed all this
information is inserted directly into the system. The advantage of this approach is that these risks are
now visible to each stakeholder within the organization with access to the system. rather than this vital
information being locked away during a report which has got to be requested via email, anyone who
wants to ascertain which risks are identified can access the knowledge within the risk management
system.

Step 2: Analyze the danger

Once a risk has been identified it must be analyzed. The scope of the danger must be determined. it's
also important to know the link between the danger and various factors within the organization. to work
out the severity and seriousness of the danger it's necessary to ascertain what percentage business
functions the danger affects. There are risks which will bring the entire business to a standstill if
actualized, while there are risks which will only be minor inconveniences in analyzed. during a manual
risk management environment, this analysis must be done manually. When a risk management solution
is implemented one among the foremost important basic steps is to map risks to different documents,
policies, procedures, and business processes. this suggests that the system will have already got a
mapped risk framework which will evaluate risks and allow you to know the far-reaching effects of every
risk.

Step 3: Evaluate or Rank the danger

Risks got to be ranked and prioritized. Most risk management solutions have different categories of
risks, counting on the severity of the danger . A risk which will cause some inconvenience is rated lowly,
risks which will end in catastrophic loss are rated the very best . it's important to rank risks because it
allows the organization to realize a holistic view of the danger exposure of the entire organization. The
business could also be susceptible to several low-level risks, but it's going to not require upper
management intervention. On the opposite hand, only one of the highest-rated risks is enough to need
immediate intervention.

Step 4: Treat the danger

Every risk must be eliminated or contained the maximum amount as possible. this is often done by
connecting with the experts of the sector to which the danger belongs to. during a manual environment,
this entails contacting each and each stakeholder then fixing meetings so everyone can talk and discuss
the problems . the matter is that the discussion is broken into many various email threads, across
different documents and spreadsheets, and lots of different phone calls. during a risk management
solution, all the relevant stakeholders are often sent notifications from within the system. The discussion
regarding the danger and its possible solution can happen from within the system. Upper management
also can keep an in depth eye on the solutions being suggested and therefore the progress being made
up of within the system. rather than everyone contacting one another to urge updates, everyone can
get updates directly from within the danger management solution.

Step 5: Monitor and Review the danger

Not all risks are often eliminated – some risks are always present. Market risks and environmental risks
are just two samples of risks that always got to be monitored. Under manual systems monitoring
happens through diligent employees. These professionals must confirm that they keep an in depth
watch on all risk factors. Under a digital environment, the danger management system monitors the
whole risk framework of the organization. If any factor or risk changes, it's immediately visible to
everyone. Computers also are far better at continuously monitoring risks than people. Monitoring risks
also allows your business to make sure continuity.

Provokes Workplace Politics and Conflicts: as we all know that there are two or many bosses. If anyone
of them seems to be dominant, there'll be a negative work environment filled with conflicts.

Financial Aspects and Planning for reopening Adamjee Jute Mills:

Financial planning is that the task of determining how a business will afford to realize its strategic goals
and objectives. The budget describes each of the activities, resources, equipment and materials that are
needed to realize these objectives, also because the timeframes involved.

Step 1 - Defining and agreeing your financial objectives and goals

The goals and objectives are going to be the guide to the budget and will provide a roadmap for your
financial future. they ought to contain the subsequent features:
Quantifiable and achievable

Clear and have an outlined timeframe

Separate your needs from your wants

They should be agreed and documented together with your financial adviser to help you measure
progress. they ought to even be reviewed periodically to capture changing circumstances and to make
sure they continue to be relevant.

Step 2 – Gathering your financial and private information

The financial planning process and its success will depend upon the standard and clarity of the
knowledge communicated to your adviser. Your adviser will complete an in depth financial fact-find to
capture all relevant information in reference to your finances. this may include:

Income and expenditure

Assets and liabilities

Risk attitude, tolerance and capacity

Step 3 – Analysing your financial and private information

Your financial adviser reviews the knowledge provided in step 2 and uses it to supply a report that
reflects your current financial profile. the subsequent ratios are produced to enhance your
understanding of your financial circumstances and to pinpoint areas of strength or weakness:

-Solvency Ratio

-Savings Ratio

-Liquidity Ratio

-Debt Service Ratio

Your attitude, tolerance and capacity for risk are assessed employing a psychometrically designed risk
tolerance questionnaire in reference to investment assets. this is often also analysed to assess your
asset allocation for investment or pension goals.

Step 4 – Development and presentation of the budget

The budget is developed supported the knowledge received in step 2 and analysis completed in step 3.
Each of the goals and objectives in step 1 should be addressed and a recommendation for every
identified. it'll include:
Net worth statement (a balance sheet)

Annual consolidated tax calculation

Annual income report (displaying surplus or deficit)

The report is presented, explained, discussed then signed by both client and adviser.

Step 5 – Implementation and review of the budget

Once the analysis and development of the plan is complete, the adviser will outline the recommended
courses of action. this will involve implementing:

A new pension or investment strategy

Changing debt provider

Additional life or serious illness insurance

Income and expenditure adjustments

The Adviser may perform the recommendations or function your coach, coordinating the method with
you and other professionals like , accountants or investment managers. they'll also handle the
interaction with financial product providers.

Financial planning may be a dynamic on-going process that needs continuous monitoring. Review of the
actions recommended within the plan should happen regularly, and therefore the goals should be
reviewed annually to require account of a change in income, asset values, business or family
circumstances.

Financial Planning that follows a properly defined and documented process will give the greatest chance
of a successful outcome. It will not guarantee financial security or wealth but will provide an opportunity
to pursue both and requires proper analysis, discipline and expertise.