SpaceX SWOT analysis

designs, manufactures and launches advanced rockets and spacecraft. The company was founded in 2002 to revolutionize space technology, with the ultimate goal of enabling people to live on other planets.

Headquarter: Hawthorne, CA

Launch facilities: Cape Canaveral Air Force Station, FL

Kennedy Space Center, FL; and Vandenberg Air Force Base, CA;

Rocket development facility: McGregor, TX

Offices: Redmond, WA;

Irvine, CA;

Houston, TX;

Chantilly, VA;

Washington, DC.

Suppliers: all 50 USA states

*First private company to launch a spacecraft into orbit and return it safely to Earth in 2010.

As of 2019: Founded 2002 / 6,000 employees / 3 Vehicle / 100+ launches

Products

*Falcon Launch Vehicles

*Dragon capsules

*Merlin, Raptor and Krestrel rocket engines

*ASDS landing platforms

FALCON - Orbital Launch Vehicles

#3

#1

#2

Falcon Heavy - Heavy-Lift

2011 - current

Cost per launch: Reusable: $90M

Expendable: $150M

Falcon 1 - Small Rocket

2006 - 2009

Cost per launch: $5.9 - $7.3 M

Project cost: $90M

Falcon 9 - EELV-class

Medium-lift

2010 - current

Cost per launch: New: $62M (2016) Reused: approx. $50M (2019)

Orbital rocket launch

STRENGTH

• Private Company
• Uniqueness
• Reusable Rockets
• High degree of self reliance
• CEO public profile
• Cost competitive

WEAKNESSES

• Technological
• Complexity
• Costs
• Reliance on government
• Infrastructure

OPPORTUNITIES

• Cheaper satellite delivery
• Space Tourism
• Rocket technology development
• Political Stability
• Working relations with NASA
• Spin off technology

THREAT

• Non US Sovereign States
• Other Private companies
• ULA-United Launch Alliance - Rocket manufacturer
• Essential resources
• Terrorism
• Allocate resources to Earth based challenges

Deep-Dive into Fundamentals

As the story goes, Elon Musk always had a fascination for rockets and space technology. To further explore this domain, he concentrated on learning the fundamentals, consulted various resources to understand the details of the field, and explored SpaceX products that could enhance staff connectivity and help achieve set forth goals. Similarly, if you are a newbie to project management, try to understand the basics first. Even if you are a seasoned PM, but new to a project, you’ll need to dive deep into the basics before you begin to communicate your ideas to the project team.

Enhance Leadership Abilities

We all know that with great leadership comes greater responsibilities. To stand out as a remarkable Project Manager, one must have strong leadership skills. The key to success here is to work harder with your team and contribute effort on an individual level. Considering SpaceX, we see that Musk hired over 7,000 people whose primary focus is on building their foundation first and implementing new ideas throughout the process. Every single contribution is essential for the development of the project.

Effectively Manage Time

There is no question that SpaceX is moving rapidly! Projects are following a fast moving timeline for execution. Publicly announced launch dates not only inspire investors, but keep workforce deliverables on track. Likewise, a project can only succeed if there is an accurate, achievable time schedule. That is, goals and a timeline which can convey a true picture of a project’s effectiveness and productivity. The responsibility of a PM is not just to deliver a product, but to release it within a stipulated time frame

Control Costs

Controlling costs is one of the prime factors which has led to SpaceX’s success. Musk has ensured that resources are available by coordinating with NASA to carry their troops and consignments to the International Space Station. SpaceX also works on reusable rockets to cut down the cost of building new ones. And then, with those things in place, they work on optimizing their current project objectives. This process thereby reduces the cost of progress. Similarly, successful projects are those with a budget used wisely with minimum or no waste

Takeaway

To conclude, we may say that project management comprises of major project developments and achieving the project objectives. For this reason, the instance of SpaceX is cited for a better understanding of the various project principles to the minutest level. And, we may connote that you can develop your project management skills by taking an inspiration from the SpaceX projects for effective project management. Nevertheless, in case you are new to project management, opt for a Project Management training package to optimize your existing knowledge and skill sets. You never know, perhaps you are the next Elon Musk in the making!

CHAIN OF COMMAND

• In an organizational structure, “chain of command” refers to a company's hierarchy of reporting relationships – from the bottom to the top of an organization, who must answer to whom. The chain of command not only establishes accountability, it lays out a company's lines of authority and decision-making power.

Leadership Style

"While other leaders might have a reputation as micro-managers, Musk said he's a nano-manager. In scientific pursuits, micro- means a thousandth of something, while nano- means a billionth. In essence, Musk is saying that he's exponentially more hands-on than the average boss."

https://www.businessinsider.com/elon-musk-calls-himself-a-nano-manager-2015-1

GOAL SETTING

Goal-setting theory refers to the effects of setting goals on subsequent performance. Researcher Edwin Locke found that individuals who set specific, difficult goals performed better than those who set general, easy goals.