Master of Business Administration-MBA Semester 2 Project Management MB0049

(Book ID: B1138) Assignment Set- 1 _________________________________________________________________________

Q.1 Comment on the following a. Importance of DMAIS in project management cycle Answer:
The Project management Life Cycle The Project Life Cycle refers to a logical sequence of activities to accomplish the projects goals or objectives. Irrespective of the complexities of the project, a life cycle of a project consists of a) Understanding the scope and objectives of the project b) Formulating and planning various activities d) Executing the project d) Monitoring the project and controlling the project resources

b. Knowledge areas of project management.

Project Management Information System (PMIS) An information system is mainly aimed at providing the management at different levels with information related to the system of the organisation. It helps in maintaining discipline in the system. An information system dealing with project management tasks is the project management information system. It helps in decision making in arriving at optimum allocation of resources. The information system is based on a database of the organisation. A project management information system also holds schedule, scope changes, risk assessment and actual results. The information is communicated to managers at different levels of the organisation depending upon the need. Let us find how a project management information system is used by different stakeholders. The four major aspects of a PMIS are a. Providing information to the major stakeholders b. Assisting the team members, stakeholders, managers with necessary information and summary of the information shared to the higher level managers c. Assisting the managers in doing what if analyses about project staffing, proposed staffing changes and total allocation of resources d. Helping organisational learning by helping the members of the organisation learn about project management Usually, the team members, and not the systems administrators of the company, develop a good PMIS. Organisations tend to allocate such responsibility by rotation among members with a well designed and structured data entry and analytical format.

Q.2 Write few words on: a. Project Characteristics

Any project may be considered to have the following characteristics: a) Resource requirement: During the course of executing the project, it is seen that the resource requirement increases from start to an intermediate stage of the project. It further increases at a rapid rate and becomes constant while the project is at its 80 to 95% progress stage. Thereafter the resources requirement decreases to zero bringing the project to a finish. Refer to the figure 2.2 for a chart. b) Funds: The requirement of funds for the complete execution of the project also follows the same trend as that of the resources. Both the requirements are more or less proportional. Refer to the figure 2.2 for a chart. c) Probability of completion: The probability of completing the project can be estimated based upon the normal distribution curve. In the initial stage of the project the probability of completing the project is low though not zero. It gradually increases and as the project approaches finish the probability of completing the project tends to become 100%. Refer to the figure 2.2 for a chart. d) Risk: The risks involved in the project affecting its completion time are high at the initial stages and low at the later stages of the project. Refer to the figure 2.2 for a chart. e) Design changes: The project during the course of its progress may be subjected to changes because of some external factors. The influence of such external factors on the project may result in changes in the design of the project though not very often. It is observed that such changes, if any, are normally high during the initial stages of the project and decreases as the project approaches finish.

b. WBS
Work Breakdown Structure (WBS) The entire process of a project may be considered to be made up on number of sub process placed in different stage called the Work Breakdown Structure (WBS).

c. PMIS
Project Management Information System (PMIS) An information system is mainly aimed at providing the management at different levels with information related to the system of the organisation. It helps in maintaining discipline in the system. An information system dealing with project management tasks is the project management information system. It helps in decision making in arriving at optimum allocation of resources. The information system is based on a database of the organisation. A project management information system also holds schedule, scope changes, risk assessment and actual results. The information is communicated to managers at different levels of the organisation depending upon the need.

d. Project Management strategies-Internal & external

Internal Project Management Strategies Projects fail for many internal reasons, some of them technical, some of them managerial. However, even the technical failures can often be traced back to a failure on the part of the project's executive management to recognise and deal with these inherent managerial risks.

External Project Management Strategies

On some projects, events external to the project sometimes come as a surprise to the project manager and his team and are therefore seen as obstacles to progress. However, as noted earlier, projects generally exist only because of that external environment and so it is essential for the project team to recognise that they must also be responsive to it.

Q.3 What are the various SCMo softwares available in project management? Explain each in brief.
Supply Chain Monitoring (SCMo) The intent of this document is to define the structure of the Documentation System, its content, the method of content generation and to attain common documentation of all standard processes of ODETTE. The documentation is valid for the SCM group of ODETTE. The Documentation System is intranet based to provide immediate access to current, up-to-date process documentation. The system allows users to navigate through graphical structures to relevant documentation and processes which were created with the ARIS-Toolset.There are various advantages of using such a documentation system.

The various SCMo softwares available in project management

a) Standard / Best Practices: Documentation system stores and presents standards and best processes to be adhered to across the industry. This also helps the organisation to secure their correct applications. b) Central Repository: It also offers a central location of all processes and system related information. This includes customising documentation to working guidelines. c) Adaptation: Adaptation is another unique objective achieved through documentation system. They allow flexible and quick adaptation in case of process changes or enhancement and provide the updated information immediately. d) Reference: It also provides easy and quick reference to the documents. They present the standard processes in the intranet, where users can look up the current processes whenever necessary. e) Availability: Process documentation system is available at every working location.

Q.4 List the various steps for Risk management. Also explain GDM and its key features. Answer:Risk Management Plan Risk management is an important part of project management. Although often overlooked, it is important to identify as many risks to your project as possible and to be prepared if something bad happens. A project manager prepares a table of risk management plans to indicate the risk type, probability of each risk, impact of the risk on the project, risk exposure and a risk mitigation plan for each risk. Here are some examples of common project risks:

mitment

GDM? The Global Delivery Model (GDM) enables an industry or business to plan, design and deliver products and services to any customer worldwide with speed, accuracy, economy and reliability. GDM enables its customer to leverage varied locations across the globe that provides optimised value for every component of delivery. The key features of GDM are shown in figure

a. Standardisation It includes ingenious design and development of components and features which are like to be accepted by 90% of world-wide customers. GDM heavily depends on Global Standards of Design focusing on highly standardised methods and processes of manufacture or development. It adopts plug-and-socket concepts with minimum adaptable joints or connections. b. Modularisation GDM requires product or solution to be split up into smallest possible individual identifiable entities. These entities will have limited individual functioning capability but they can become powerful and robust in combination with other modules. c. Minimum Customisation GDM mandates only minimum changes or modifications to suit individual customers. d. Maximum Micro Structuring GDM encourages splitting of the Product Modules further into much smaller entity identifiable more through characteristics rather than application features. These Microbial Entities are standardised even across Multiple Modules. Application of these Microbial Entities rest within multiple Projects or Products or even as add-ons to suit customer needs later.

Q.5 Answer the two parts: a. Importance of data management in project management-Comment. Answer:Data management consists of conducting activities which facilitate acquiring data, processing it and distributing it. Acquisition of data is the primary function. To be useful, data should have three important characteristics timeliness, sufficiency and relevancy (as shown in figure ). Management of acquisition lies in ensuring that these are satisfied before they are stored for processing and decisions taken on the analysis.

There should be data about customers, suppliers, market conditions, new technology, opportunities, human resources, economic activities, government regulations, political upheavals, all of which affect the way you function. Most of the data go on changing because the aforesaid sources have uncertainty inherent in them. So updating data is a very important aspect of their management.Storing what is relevant in a form that is available to concerned persons is also important. When a project is underway dataflow from all members of the team will be flowing with the progress of activities. The data may be about some shortfalls for which the member is seeking instructions. A project manager will have to analyse them, discover further data from other sources and see how he can use them and take decisions. Many times he will have to inform and seek sanction from top management. The management will have to study the impact on the overall organisational goals and strategies and convey their decisions to the manager for implementation. For example, Bill of Materials is a very important document in Project Management. It contains details about all materials that go into the project at various stages and has to be continuously updated as all members of the project depend upon it for providing materials for their apportioned areas of execution. Since information is shared by all members, there is an opportunity for utilising some of them when others do not need them. To ascertain availability at some future point of time, information about orders placed, backlogs, lead times are important for all the members. A proper MIS will take care of all these aspects. ERP packages too help in integrating data from all sources and present them to individual members in the way they require. When all these are done efficiently the project will have no hold ups an assure success.

b. What is the significance of reviewing ROI?

ROI Return on Investment (ROI) is the calculated benefit that an organisation is projected to receive in return for investing money, time and resources in a project. Within the context of the review process, the investment would be in an information system development or enhancement project. ROI information is used to assess the status of the business viability of the project at key checkpoints throughout the projects life-cycle. ROI may include the benefits associated with improved mission performance, reduced cost, increased quality, speed, or flexibility, and increased customer and employee satisfaction. ROI should reflect such risk factors as the projects technical complexity, the agencys management capacity, the likelihood of cost overruns, and the consequences of under or non-performance. Where appropriate, ROI should reflect actual returns observed through pilot projects and prototypes. ROI should be quantified in terms of money and should include a calculation of the break-even point (BEP), which is the time (point in time) when the investment begins to generate a positive return. ROI should be re-calculated at every major checkpoint of a project to see if the BEP is still on schedule, based on project spending and accomplishments to date. If the project is behind schedule or over budget, the BEP may move out in time; if the project is ahead of schedule or under budget the BEP may occur earlier. In either case, the information is important for decision-making based on the value of the investment throughout the project life-cycle. Any project that has developed a business case is expected to refresh the ROI at each key project decision point (that is, stage exit) or at least yearly.

Q.6 XYZ Company implements CMMI level-03. To make further changes it decides on starting a new division in the organization. It decides to advance the existing project management. What are the steps to be followed by the organization to drive project management to a new horizon?