Q-1: - List and explain the traits if a professional manager.

AnswerTraits of the professional manager The following traits enable a manager to be effective in his functioning. Endowed with these it will be easy to be effective. The top management will look for these in a person who they want to employ for project management. (a) Leadership These managers lead by exhibiting the characteristics of leadership. They know what they should do, know why they are doing it,know how to do it and have the courage and will to do it. They have the power of taking along with them others. (b) People Relationships - Any leader without followers cannot be successful. They have excellent human relationship skills. The manager builds up his team based on the core values of sincerity, objectivity and dedication. He ensures that his subordinates get opportunities for growth based on performance. He makes them a part of the decision making process, thus ensuring cooperation and commitment during implementation. He delegates freely and supports them. (C) Integrity Highest - levels of trust, fairness and honesty are expected while dealing with people both within an outside the organisation. This includes the customers, shareholders, dealers, employees, the government and society at large. They ensure that functioning is clean. Their transactions will be transparent. Ethics is something they practice diligently. (d) Quality The quality philosophy should not cover only the product quality, but every process that has gone into making it. Economy of words when instructions are given, acknowledging compliance, arriving on time, remembering the promises and above all a keen eye for details and patience to make others know what they want are components of quality. (e) Customer Orientation - It is now recognized that every organized two sets of customers. Internal customers are people in the organisation employees, directors, team members any person who needs your services, whose needs of demands you satisfy. External customers clients and all members of society we come in contact in connection with our business. They need our solutions for their problems. So, the managers thinking about any problem is what can I do for him and all actions will be in that direction. (f) Innovation and creativity - Professional managers think beyond the obvious. They exhibit a keenness to go behind a problem and attempt to find the root cause of the problem. They will draw from their experience from diverse fields, seek further information and consider all possible alternatives and come out with some new and unique solution. This happens when they have open minds. A saying goes the human mind is like a parachute, it is useful only when it is open. Such a work culture is very conducive for problem solving which is the aim of all creativity. Their persistence will reward them. Such actions observed by their team members enthuse them and a spirit of adventure will bring about better solutions faster.

(g) Performance Management - The professional manager not only ensures that his performance is at peak all times, but motivates his entire team to do it. This comes by appreciation and encouragement. If there any shortfalls he arranges for training them so that their performance improves. Thus the team members know that they are expected to perform, that they get help to do so and their effort is recognized. This is the simple path of performance management. The following seven step model will be useful: 1. Objectives/Performance standards are set. 2. These are communicated to the employees. 3. Review/monitor the above. 4. Check actual performance Vs. Standards set. 5. Identify gaps. 6. Jointly decide on corrective action, if needed. 7. Reset objectives for next period 1. Objectives/Performance Standards Are Set:- To manage any criterion, it is necessary to measure the factors that were responsible for what is. The quality of the input, their quantity and their intended usage. Then measures of the utilization the processes used, their suitability, and the difficulties faced in utilization and how they were resolved. Then the outcomes are they as they were expected. Performance closer or beyond expectation is the degree of quality. For every employee the level of achievement is set in terms of quantities and extent to which the performance approached the standard. This is the basis for evaluating performance.

2. These are communicated to the employees - This procedure ensures that they know what is expected of them and help them to adjust their activities in such a way as to meet them. This enables them to seek help, consult their colleagues or bosses, learn so that they will meet the expectations. It is possible that some objectives cannot be met at all. The communication to his boss, may help in reallocating the job, so that there will be no hiccups at the end of the period.

3. Review/monitor the above - Review helps in resetting the goals when they cannot be achieved for various reasons shortage of resources, time etc. By monitoring, the shortfalls can be made up with the allocation of extra resources, or even diverting the operation.

4. Check actual performance Vs. Standards set - This is the evaluation phase. Comparison on every detail is made. Differences are recorded. Particular areas are chosen for improvement. 5. Identify gaps - Gaps mean the shortfall in performance standards. The immediate supervisor is also involved. The extent to which they affect the functions of the job itself are identified. 6. Jointly decide on corrective action, if needed - There is a possibility that the performance has exceeded the set standards. But if performance is not good the reasons and extent having been identified, the course of action for effecting corrections are decided. Giving extra responsibilities, training, relocation is considered.

7. Reset objectives for next period - The targets are revised either upward or downward depending on the conclusion of the appraisal process. (h) Identification with the organisation - A sense of pride and belonging goes with the ownership of the job, the project, team members and organisation. This is brought about by the culture and communication system in the organisation. Information sharing brings in trust and promotes belongingness. The tendency seen is that most managers strongly identify with their own departments, units or divisions and they lack a sense of organisation. In the light of increased competition and ever changing strategies to develop business orientation, which in effect means every manager should be aware of the companys plans, products and policies. An obvious corollary to this is that the organizations communication policy too should be conducive to such information sharing. Today, many organizations are using interventions such as team building, survey feedback, and other activities, to ensure that employees build up a strong sense of identity and pride in the organisation they work for. (i) Empowering employees - The professional manager should possess the ability to empower his employees down the line. Many managers are not even ready to delegate their authority to subordinates and end up only delegating responsibility. Empowerment is the process by which employees are encouraged to take decisions pertaining to their area of work. Empowerment ensures execution of his duties. This leads employees developing a sense of pride in their jobs. But managers often hesitate to empower their subordinates as they feel insecure and show a sense of uncertainty. The professional manager practices empowerment and encourages employees to grow and develop in their positions. (j) Coping with changes - It is often said The only constant in this world is change. A professional manager has the ability and capacity to cope with change. He accepts the fact that change is inevitable and is ready to implement change at the workplace. To implement change successfully, it is essential that employees are involved in the implementation of change. Further the positive and negative consequences of change need to be discussed and understood before implementation. Thus a professional manager has the attitude to accept change as a way of life and takes it in his stride.

Q-2: Describe in brief the various aspects of programme management? AnswerA company puts into place program management strategies to improve operating activities and stay ahead of the competition. These strategies also ensure that personnel conform to top management's specifications when completing required duties. Identification Program management incorporates the procedures, policies and methodologies that a company deploys to administer and complete a large-scale corporate initiative, says Michael F. Hanford, program management expert and chief methodologist for the IBM SUMMIT Ascendant methodologies. A program is distinct from a project, which is smaller in scope. Significance Program management plays a cardinal role in corporate decision-making processes, says Hanford. Without adequate policies in place, program personnel may be unable to complete tasks effectively and on time. Features A typical program management plan incorporates initiation and goal review, financial analysis and evaluation, personnel recruitment, progress reporting, completion review and follow-up procedures, according to program and project management expert Patrick Francis. Considerations Administering a program management plan requires analytical skills, computer systems knowledge, time-management ability, effective communication skills, financial dexterity and attention to detail, according to Florida's Statewide Systems Engineering Management Plan.

Q-4:- List out the macro issues in project management and explain each. AnswerMacro issues (a) Evolving Key Success Factors (KSF) Upfront - In order to provide complete stability to fulfillment of goals, one needs to constantly evaluate from time to time, the consideration of what will constitute the success of completing a project and assessing its success before completion. The KSF should be evolved based on a basic consensus document (BCD). KSF will also provide an input to effective exit strategy (EES). Exit here does not mean exit from the project but from any of the drilled down elemental activities which may prove to be hurdles rather than contributors. Broad level of KSF should be available at the conceptual stage and should be firmed up and detailed out during the planning stage. The easiest way would be for the team to evaluate each step for chances of success on a scale of ten. KSF should be available to the management duly approved by the project manager before execution and control stages. KSF rides above normal consideration of time and cost at the levels encompassing client expectation and management perception time and cost come into play as subservient to these major goals. (b) Empowerment Title (ET) ET reflects the relative importance of members of the organization at three levels: (i) Team members empowered to work within limits of their respective allocated responsibilities the major change from bureaucratic systems is an expectation from these members to innovate and contribute to time and cost. (ii) Group leaders are empowered additionally to act independently towards client expectation and are also vested with some limited financial powers. (iii) Managers are empowered further to act independently but to maintain a scientific balance among time, cost, expectation and perception, apart from being a virtual advisor to the top management. (c) Partnering Decision Making (PDM) - PDM is a substitute to monitoring and control. A senior with a better decision making process will work closely with the project managers as well as members to plan what best can be done to manage the future better from past experience. The key here is the active participation of members in the decision making process. The ownership is distributed among all irrespective of levels the term equally should be avoided here since ownership is not quantifiable. The right feeling of ownership is important. This step is most difficult since junior members have to respond and resist to being pushed through sheer innovation and performance this is how future leaders would emerge. The PDM process is made scientific through: (i) Earned value management system (EVMS) (ii) Budgeted cost of work scheduled (BCWS) (iii) Budgeted cost of work performed (BCWP) (iv) Actual cost of work performed(ACWP)

(d) Management By Exception (MBE) No news is good news. If a member wants help he or she locates a source and proposed to the manager only if such help is not accessible for free. Similarly, a member should believe that a team leaders silence is a sign of approval and should not provoke comments through excessive seeking of opinions. In short leave people alone and let situation perform the demanding act. The bend limit of MBE can be evolved depending on the sensitivity of the nature and size of the project. MBE provides and facilitates better implementation of effectiveness of empowerment titles. MBE is more important since organizations are moving toward multi-skilled functioning even at junior most levels.

Q-5:- Describe the various steps in risk management listed below:

Answer(A) Risk Identification - Risk Identification ascertains which risks have the potential of affecting the project and documenting the risks' characteristics. Risk Identification begins after the Risk Management Plan is constructed and continues iteratively throughout the project execution. The Risk Identification process naturally progresses into the Qualitative Risk Analysis or the Quantitative Risk Analysis Process. Sometimes it is wise to include the identification of a risk and its response in order for it to be included in Risk Response Planning. At the beginning of the Risk Identification process it is a good idea to have gathered all of the inputs you and your team will need. The inputs to the Risk Identification Process are:

The Project Management Plan - The Project Management Plan is used in gain an understanding of the project's mission, scope, schedule, cost, Work Breakdown Structure (WBS), quality criteria, and other elements. Risk Management Plan - The Risk Management Plan provides the blueprint of overseeing risk management throughout the project describing who, what, when, where, why, and how. The Risk Management Plan provides the following four critical inputs to Risk Identification:

Assignment of roles and responsibilities - identifying the who of risk management by assigning the handling of specific tasks and roles to specific individuals. Budget provisions for risk-management activities - The approved funds available for risk-management activities. You will need to track your actual costs against these approved budget numbers. Schedule for risk management - The revised schedule including the time needed for risk-management activities over the duration of the project's life cycle. Categories of risk - The risk categories are used during Risk Identification to organize and prioritize risks as they are identified. Alternatively, the Risk Breakdown Structure (RBS) may be the source of risk categories.

Project Scope Statement - The project scope statement defines the project boundaries and assumptions. During Risk Identification, risks to boundaries must be identified in order to mitigate scope creep, and assumptions must be reassessed to identify risks associated with them. Organizational process assets - Organizational process assets provide information from prior projects including historical information and lessons learned. Enterprise environmental factors - These factors include any and all external environmental factors and internal organizational environmental factors that surround or influence the project's success, such as organizational culture and structure, infrastructure, existing resources, commercial databases, market conditions, and project management software.

After gathering all necessary inputs, it is tie to employ the recommended tools and techniques of risk identification. The tools and techniques are:

Documentation reviews - Documentation reviews involve comprehensively reviewing the project documents and assumptions from the project overview and detailed scope perspective in order to identify areas of inconsistency or lack of clarity. Missing information and inconsistencies are indicators of a hidden risk. Information gathering techniques - Information gathering techniques are used to develop lists of risks and risk characteristics. Each technique is helpful for collecting a particular kind of information. The five techniques are: Brainstorming - Brainstorm is employed as a general data-gathering and creativity technique which identifies risks, ideas, or solutions to issues. Brainstorming uses a group of team members or subject-matter experts spring boarding off each others' ideas, to generate new ideas. Delphi technique - The Delphi technique gains information from experts, anonymously, about the likelihood of future events (risks) occurring. The technique eliminates bias and prevents any one expert from having undue influence on the others. Interviewing - Interviewing in a face-to-face meeting comprised of project participants, stakeholders, subject-matter experts, and individuals who may have participated in similar, past projects is a technique for gaining first-hand information about and benefit of others' experience and knowledge. Root cause identification - Root cause identification is a technique for identifying essential causes of risk. Using data from an actual risk event, the technique enables you to find out what happened and how it happened, and understand why it happened, so that you can devise responses to prevent recurrences. Strengths, weaknesses, opportunities, and threats (SWOT) analysis - A SWOT analysis examines the project from the perspective of each project's strengths, weaknesses, opportunities, and threats to increase the breadth of the risks considered by risk management. Checklist analysis - Checklists list all identified or potential risks in one place. Checklists are commonly developed from historical information or lessons learned. The Risk Breakdown Structure (RBS) can also be used as a checklist. Just keep in mind that checklists are never comprehensive, so using another technique is still necessary. Assumptions analysis - All projects are initially planned on a set of assumptions and what if scenarios. These assumptions are documented in the Project Scope Document. During Risk Identification, assumptions are analyzed to determine the amount of inaccuracy, inconsistency, or incompleteness associated with them. Diagramming techniques - Diagramming techniques, such as system flow charts, causeand-effect diagrams, and influence diagrams are used to uncover risks that aren't readily apparent in verbal descriptions. Cause and effect diagrams - Cause and effect diagrams or fishbone diagrams are used for identifying causes of risk System or process flow charts - Flow charts illustrate how elements and processes interrelate. Influence diagrams - Influence diagrams depict causal influences, time ordering of events and other relationships between input variables and output variables.

The tools and techniques used for the Risk Identification process are designed to help the project manager gather information, analyze it, and identify risks to and opportunities for the project's objectives, scope, cost, and budget. The information gathered is entered on the Risk Register, which is the primary output of Risk Identification.

Risk Register - The Risk Register containing the results of the Qualitative Risk Analysis, Quantitative Risk Analysis, and Risk Response Planning. The Risk Register illustrates all identified risks, including description, category, and cause, probability of occurring, impact on objectives, proposed responses, owners, and current status. While the risk register will become the comprehensive output, Risk Identification process results in four entries in the Risk Register:
Lists of identified risks - Identified Risks with their root causes and risk

assumptions are listed.

List of potential responses - Potential responses identified here will serve as inputs

to the Risk Response Planning process.

Root causes of risk - Root causes of risk are fundamental conditions which cause

the identified risk.

Updated risk categories - The process of identifying risks can lead to new risk

categories being added.

(B) Risk Analysis - Almost everything we do in today's business world involves a risk of some kind: customer habits change, new competitors appear and factors outside your control could delay your project. But formal risk analysis and risk management can help you to assess these risks and decide what actions to take to minimize disruptions to your plans. They will also help you to decide whether the strategies you could use to control risk are cost-effective. How to Use the Tool: Here we define risk as 'the perceived extent of possible loss'. Different people will have different views of the impact of a particular risk what may be a small risk for one person may destroy the livelihood of someone else. One way of putting figures to risk is to calculate a value for it as: Risk = probability of event x cost of event Doing this allows you to compare risks objectively. We use this approach formally in decision making with Decision Trees.

To carry out a risk analysis, follow these steps: 1. Identify Threats: The first stage of a risk analysis is to identify threats facing you. Threats may be: Human from individuals or organizations, illness, death, etc. Operational from disruption to supplies and operations, loss of access to essential assets, failures in distribution, etc. Reputational from loss of business partner or employee confidence, or damage to reputation in the market. Procedural from failures of accountability, internal systems and controls, organization, fraud, etc. Project risks of cost over-runs, jobs taking too long, of insufficient product or service quality, etc. Financial from business failure, stock market, interest rates, unemployment, etc. Technical from advances in technology, technical failure, etc. Natural threats from weather, natural disaster, accident, disease, etc. Political from changes in tax regimes, public opinion, government policy, foreign influence, etc. Others

This analysis of threat is important because it is so easy to overlook important threats. One way of trying to capture them all is to use a number of different approaches: Firstly, run through a list such as the one above, to see if any apply. Secondly, think through the systems, organizations or structures you operate, and analyze risks to any part of those. See if you can see any vulnerability within these systems or structures. Ask other people, who might have different perspectives.

2. Estimate Risk: Once you have identified the threats you face, the next step is to work out the likelihood of the threat being realized and to assess its impact. One approach to this is to make your best estimate of the probability of the event occurring, and to multiply this by the amount it will cost you to set things right if it happens. This gives you a value for the risk. 3. Manage Risk: Once you have worked out the value of risks you face, you can start to look at ways of managing them. When you are doing this, it is important to choose cost effective approaches in most cases, there is no point in spending more to eliminating a risk than the cost of the event if it occurs. Often, it may be better to accept the risk than to use excessive resources to eliminate it.

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Risk may be managed in a number of ways: By using existing assets - Here existing resources can be used to counter risk. This may involve improvements to existing methods and systems, changes in responsibilities, improvements to accountability and internal controls, etc. By contingency planning - You may decide to accept a risk, but choose to develop a plan to minimize its effects if it happens. A good contingency plan will allow you to take action immediately, with the minimum of project control if you find yourself in a crisis management situation. Contingency plans also form a key part of Business Continuity Planning (BCP) or Business Continuity management (BCM). By investing in new resources - Your risk analysis should give you the basis for deciding whether to bring in additional resources to counter the risk. This can also include insuring the risk: Here you pay someone else to carry part of the risk this is particularly important where the risk is so great as to threaten your or your organization's solvency.

4. Review: Once you have carried out a risk analysis and management exercise, it may be worth carrying out regular reviews. These might involve formal reviews of the risk analysis, or may involve testing systems and plans appropriately.

(C) Risk Management Planning - Risk Management Planning is about defining the process of how to engage and oversee risk management activities for a project. Risk Management planning is an important part of project management. Having a plan on how to manage risk, allows one to task to plan versus innovating and deciding after the fact and in the midst how to handle a risk. The earlier Risk Management planning is engaged within increases the possibility of success of all risk management activities and processes especially if the process definition was created with input and buy-in from the project manager and key project stakeholders. The inputs for Risk Management Planning are:

Project Scope Statement The Project Scope Statement documents the project scope including a description, major deliverables, project objectives, project assumptions, project constraints, and a statement of work. In Risk Management Planning, the project scope statement is commonly used for identifying project boundaries and assumptions. Project Management Plan The Project Management plan contains the WBS which is used in Risk Management Planning to determine possible areas where risks can occur. For example, if the WBS has usability testing being the last item completed after integrated testing. This is a risk. The usability of the application may have affect on how the information is passed into and out of the application. This could be considered a Project Management Planning Risk.

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Organizational process assets The organizations process assets may contain defined standards and policies pertaining to risk management. Process assets included are risk categories, roles and responsibilities, and processes of how to have a decision made. Enterprise environmental factors Enterprise environmental factors reveal the risk tolerance of the organization and the individuals involved in the project. For example, patient billing departments or leaders commonly have absolutely no risk tolerance for any impact to cash flow. This is especially true in non-for-profit organizations like hospitals. However educators and researchers have a high level or risk tolerance. Therefore in an academic medical center, one could have two ranges of risk tolerance. Understanding how much risk your stakeholders and organization are comfortable with help with decisions regarding the type, level, and amount of risk management to apply in the project.

Once the inputs have been obtained the only tool and technique used to engage in risk management planning is the planning meetings and analysis. Planning Meetings and Analysis The planning meetings are used to construct the risk management plan. Commonly attendees are the stakeholders, team members, and the project manager. The Risk costs and action plans are developed with assignments and risk responsibilities. When facilitating planning meetings a couple of tips are: Ensure people can access the inputs to the planning process beforehand Have a project collaborative a web site and store core project documents including the Project Scope Statement, Project Management Plan, your organization's policies on risk management, and any environmental factors that may affect your project.

Assure the object is to discuss and make decisions about the risk plan During the Risk Management Planning meetings it is good to cover the five major elements of risk management. These are:

Methodology Define how risks will be identified, how risk analysis (qualitative and quantitative) will be done, how risk response planning will happen, how risks will be monitored, and how ongoing risk-monitoring activities will occur. Roles and Responsibilities Determine who will have responsibility for resolving which risks. Create a matrix, list, or table and assign names. Your organization may already have pre-assigned roles and responsibilities. Budget Determine an order-of-magnitude estimate for how much riskmanagement activities will cost for the project, based on time estimates and personnel costs, and the size, impact, and importance of your project. Schedule Define when risk-management activities should be done, and schedule them. High-visibility, important projects will require more frequent risk identification and response than low-visibility or routine projects. Templates and definitions of terms Obtain copies of your organization's templates and any pre-existing risk categories and definitions. You and your team will need to discuss and agree on what these terms mean.

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Risk Management Planning meetings are all about planning for subsequent risk identification and analysis. It's important not to get involved in actually identifying risks during these meetings. The output of the Risk Management Planning process is the Risk Management Plan. The Risk Management Plan documents Project Risk Management will be structured and performed on the project. The components of the Risk Management Plan are as follows: Methodology Methodology describes how the Risk Management processes will be performed, the tools which will be utilized, and the data source for handling risk. Roles and responsibilities Roles and responsibilities matrix identifies the lead, support, and risk management team for each action item in the risk management plan, and assigns people to the roles clarifying their responsibility and accountability. Budgeting Budgeting assigns resource and estimates costs needed for risk management. Simply state it is just better to be honest and above board, budgeting for risk with a risk contingency. Timing Timing clarifies the frequency of the risk management process and schedules some risk management activities in the project schedule. Without timely monitoring and response, risks can easily escalate into negative events or become missed opportunities because you failed to exploit them. Risk categories - Risk categories are potential causes of risk included in the Risk Management Plan for use during the Risk Identification and Risk Analysis processes. Risk categories are sometimes shown as a Risk Breakdown Structure (RBS). The RBS is a hierarchically organized depiction of the identified project risks arranged by risk category and subcategory that identifies the various areas and causes of potential risks. Definitions of risk probability and impact - Agreeing on standard definitions helps to ensure that everyone is communicating on the same wavelength. Definitions are included in the Risk Management Plan for later use during Risk Analysis. Probability and impact matrix - The probability and impact matrix assists in determining whether a risk is considered low, moderate or high by combining the two dimensions of a risk: its probability of occurrence, and its impact on objectives if it occurs. Revised stakeholder tolerances As discussions become more specific during planning meetings about actual risks and actual costs, schedules, scope, objectives, and quality criteria, you will begin to get a better idea of your stakeholders' tolerance for risk than you had at the start of the process.

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Reporting formats Reporting formats depict the content and format of the risk register. The Risk Register is a document on which you will record identified risks and their characteristics. Tracking Tracking describes how and when risk information will be documented and reviewed for the benefit of current project, future needs, and lessons learned. Tracking also specifies whether risk management processes will be audited.

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