OREANDA-NEWS. October 02, 2014. POSCO is accelerating its effort to establish a `Project-based Working Process` and make the projects produce results.

Chairman Kwon Oh-joon visited POSCO`s Head Office in Pohang, the Technology Development Center of the Pohang Steel Works and the Technology Research Center on September 12, checked the IP (Innovation POSCO) projects of each site in person, and provided advice to staff there as a mentor.

During his visit, Mr. Kwon checked more than 20 projects, including special executive projects, S-class projects and a Technology Development Center project. He also coached the employees carrying out the projects.

Earlier in July, Mr. Kwon had said that he would visit the sites of POSCO`s major projects in person and check on the progress, and specifically ordered that they should show everything as is without making any special preparation. That`s why he went to Gwangyang on August 12, he was in Seoul on August 14, and he checked the projects in Pohang.

Mr. Kwon visited the workplaces of the special executives and PCPs carrying out projects, and provided project VP (Visual Planning) mentoring. He listened to them give presentation about the progress of their projects and their plans, and gave them advice on key issues, such as methodologies and technical cooperation. In addition, he had a lunchbox meeting with IP project leaders in an effort to hear about the difficulties they faced in carrying out the projects and to provide feedback and encouragement.

The `Project-based Working Process` identifies projects that will help improve profitability and accomplish qualitative goals, and focuses on producing outstanding results. It is an innovative activity to realize `POSCO the Great.`

With the aim of successfully carrying out the project, POSCO implemented the special executive system to enhance the expertise of project labor and further expanded the PCP system. In a special presentation, Mr. Kwon explained the intent and direction of the `Project-based Working Process` to employees, with this process having already been implemented in earnest since April. Projects to be carried out intensively will be selected from areas such as production, sales, research, finance, new business and administration, in a way that best fits the business characteristics and challenges. As for S-class projects, Mr. Kwon provided advice on the goals and plans. As projects highly likely to improve profitability are identified first and then appropriate methodologies are selectively utilized, the process is proving highly satisfactory.

In addition, the `IP project special reward system` was recently instituted so that employees would be encouraged to challenge themselves to take on new projects and concentrate on excellent performance. This system gives substantial rewards to those teams that produce results recognizable to anyone. Chairman Kwon Oh-joon emphasized the importance of sites by saying ``For projects to realize profits, we must make sure that ideas are put into practice on the shop floor and, to this end, we need to collaborate and make joint efforts with related departments.`` He said to special executives, ``As you are at the very top in your field, I hope that you will work hard to produce great realized profits,`` and encouraged them and appreciated their hard work.

POSCO will try its best to efficiently manage key projects, and hold an enterprise-wide project idea contest this coming October in order to use the collective intelligence of employees to continuously identify new projects.