WESTERN COLLEGES INC.
LATORIA CAMPUS
College of Business Administration Studies
Graduate School
Name: Faie R. Antiniolos
Professor: Arnold B. Galve
Subject Code: OM ELEC-3
Date Submitted: Dec. 20, 2022
Journal Review:
The paradigm of the integration of different
types of management information systems in
investment and construction company implementing
the project approach.
Title of the Article:
The paradigm of the integration of different types of
management information systems in investment and
construction company implementing the project
approach.
Author:
S.Yu.
Eroshkina,c,
N.D.
Koryaginb,
Kovkovc,D.V. Panovc, A.I. Sukhorukova,b *
Title of the Journal:
XIIth International Symposium «Intelligent Systems»,
INTELS’16, 5-7 October 2016, Moscow,Russia
Year of Publication:
2017
D.V.
Summary:
The project-related data is collected, stored, and analyzed using a
variety of software and digital tools, according to the paper "The paradigm
of the integration of different types of management information systems in
investment and construction company applying the project approach" by
S.Yu. Eroshkina,c, N.D. Koryagin, D.V. Kovkov,D.V. Panov, and A.I.
Sukhorukova,b. This enables greater team coordination and
communication, better monitoring of project progress and budget, and
improved decision-making ability. The combination of these platforms
enables real-time updates and simplified information access, empowering
the business to take immediate action in the face of any possibilities or
difficulties. The use of project management software additionally enables
the development of precise project plans and timetables as well as the
ability to track and modify them as necessary. Overall, the project
management process is made more efficient and effective by the
integration of various tools.
The following are the highlights of the article:
• The project's concepts were introduced one at a time, with
descriptions of each function and its significance to the operation of
supporting automated control systems. The issues and solutions are
then described, some with figures and pictures to highlight the
effects and potential drawbacks, and the conversations on the page
also provide methods for monitoring and implementing these
issues.
• Each project concept has a cause and effect, and management
information systems make it possible to align and optimize the
lifecycle management swiftly and efficiently. The people investing
in a project should be able to identify potential solutions and risks
in order to design the appropriate management information systems
procedure.
WESTERN COLLEGES INC.
LATORIA CAMPUS
• According to Pearl Zhu, "The value of information management is never
for its own sake, but to provide insight and make a leap of innovation." In
other words, comprehending the paradigm of the integration of various
management information system functions in investment and construction
companies gives us a more in-depth understanding of the threats that the
world's networks may face. In particular, investment and construction
companies will be able to recognize themselves as independent
components and give sufficient, unique control functions by understanding
the conflict but overall project management.
Critique:
In investment and construction firms that use the project approach, the
integration of several management information systems can be a useful tool for
enhancing efficiency and production. There may be disadvantages to this
strategy, though.
This paradigm may be criticized for the fact that integrating several
management information systems can be challenging and time-consuming,
especially if they weren't created to function together. Employees may become
less effective as a result because they are diverted from their primary tasks to
spend time figuring out how to use and navigate different systems.
Another argument against system integration is that it might introduce new
complications and vulnerability spots. There may be operational delays and
potential repercussions on project timelines and budgets if one system encounters
an outage or error that cascades to the other connected systems.
Additionally, integrating several management information systems may
require a substantial financial outlay. Businesses must spend money on the
systems themselves, as well as the tools and knowledge required to
WESTERN COLLEGES INC.
LATORIA CAMPUS
apply them and keep them. For smaller businesses or those with tighter
budgets, this might be a hurdle.
Despite the fact that combining several types of management information
systems can have many advantages, it is crucial for businesses to thoroughly
assess any potential negatives and balance the costs and advantages before going
through with this plan.
Readers may find information on these to be crucial in understanding how
to combat current technology, reduce or even get rid of dangerous projects and
high-risk safety controls.
Conclusion:
The successful implementation of the project approach by an investment
and construction company depends on the integration of several management
information systems. It lets the organization to efficiently manage and organize
the project's numerous elements, including its finances, purchases, people, and
operations. The seamless exchange of information across departments and
stakeholders is made possible by the integration of various systems, allowing the
business to take well-informed decisions and guarantee the project's timely
completion. Additionally, by integrating these technologies, the business can
boost its general productivity and efficiency, which will increase its
competitiveness and profitability. Overall, any project-based business must
implement a complete and integrated management information system to
succeed.
References:
[1] Harper-Smith P. Project management. Moscow; 2011.
[2] Koryagin ND, Sukhorukov AI, Medvedev AV. Application of modern methodological
approaches to operating information systems management. Moscow: RIO MGTU GA; 2015.
148 p.
[3] Sukhorukov AI. Ecological aspects of the implementation of radiation-hazardous
construction and investment projects. Collection of scientific works of the VI International
scientific-practical conference "Modern problems of project management in investment and
construction and environmental management". Moscow. 2016.
[4] Sukhorukov AI, Khismatov IF, Novikov IE. Theory of aerospace radiation monitoring of
the Earth. M.: WUNC air force Military air Academy. them. N. E. Zhukovsky and Y. A.
Gagarin, 2011.
[5] Sukhorukov AI, Eroshkin SJ. Information and management: historical development
definitions. [Informacija i upravlenie: istoricheskoe razvitie definicij]. Competence Kompetentnost', 2016, no. 6, pp. 43-47. (in Russian)