Choosing The Right Organisation Structure

Hi,
This is Raj Beniwal, working with a software firm. This is my first job and I have been assigned the task of putting in place the right kind of Organisation structure for the company.
Let me first give you an idea about the company; It's a 50 odd people company in India. There are a lot of project running simultaneously and the top management of the company feel they need to be little more organised. Very first thing they thought about is "ORGANISATION STRUCTURE".
We have four key developers who are the project managers/leaders. There is a huge amount of resource sharing required as the priorities change with every new project. The CEO is here 4-5 months a year (he operates from UK). We have a Director, who is responsible for the entire unit in India.
I'm required to give them a solution by this monday(5/9/05). Please find some time out of your busy schedule to help me out.
Thanking you in anticipation

Hi Raj,
Hope we are not late in responding to your query..today was the last day..
Present structure:-
Director
/
Four Project Managers
/
Progammers ( 46 no.s, appox 12 for each Manager)
Option 1.
Functional
Director
/
Project Manager - 4 no.s ( Expertise wise)
/
Co-ordinator
/
Programers
Option 2
use matrix structure
Project Managers
/
Programmers - shared resources with all Managers
make sure you groom next line as Project Managers are vulnerable to market forces..
Also work out the cost centres for each unit and compare with the potential revenues..
Hope this helps
Rajat