Project Management

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  • Topic: Project management, Management, Quality control
  • Pages : 27 (2887 words )
  • Download(s) : 26
  • Published : March 2, 2013
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PROBLEM 1

Project?

1. Unique purpose
2. Life span
3. Uncertainty
4. Primary customer
5. Resources
6. Developed using progressive elaboration

Project Life Cycle

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Key Project Constraints

1. Scope – objective of project
2. Time - Deadline
3. Cost - Budget
4. Quality – Extent of satisfaction

Project Stakeholders

Individuals or groups in the organization who have an interest in, or will be affected by, the project result. E.g. Organiser, team members, vendors

Project Management
o Application of knowledge, skills, tools and techniques to project activities to meet project requirements.

o Project managers must strive to meet specific scope, time, cost and quality goals of projects.

o They need to facilitate the entire process to meet the needs and expectations of the people involved in or affected by project activities.

Components
• Selection and Scope

• Time and Resource

• Human Resource

• Project Finance

• Project Communications

• Project Quality

• Project Risk

• Change Management

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PROBLEM 2

Project selection criteria

Financial Models
?Net Present Value (NPV)

?Payback

?Internal Rate of Return (IRR) AKA Breakeven

Non Financial Model
?Multi-Weighted Scoring Model

Considerations
✓ Used as evaluation guides
✓ Should not be used as only means for final decision
✓ Selections of projects should be based on how much their predicted outcomes contribute to the goal / objective achievement

Project organizational structure
1. Functional
2. Dedicated
3. Project Managed
4. Matrix

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• Perform specialized set of tasks, for instance the engineering department would be staffed only with software engineers.

• Leads to operational efficiencies within that group. However it could also lead to a lack of communication between the functional groups within an organization, making the organization slow and inflexible.

• Functional organization best suited as a producer of standardized goods and services at large volume and low cost.

• Coordination and specialization of tasks are centralized in a functional structure, which makes producing a limited amount of products or services efficient and predictable.

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• Similar to “dedicated”

• Groups each organizational function into divisions.

• Each division within a divisional structure contains all the necessary resources and functions within it.

• Divisions can be categorized from different points of view.

• Example, an automobile company with a divisional structure might have one division for SUVs, another division for subcompact cars, and another division for sedans. Each division would have its own sales, engineering and marketing departments.

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• The matrix structure groups employees by both function and product.

• Combine the best of both separate structures.

• Frequently uses teams of employees to accomplish work, in order to take advantage of the strengths, as well as make up for the weaknesses, of functional and decentralized forms.

• An example would be a company that produces two products, "product a" and "product b". Using the matrix structure, this company would organize functions within the company as follows: "product a" sales department, "product a" customer service department, "product a" accounting, "product b" sales department, "product b" customer service department, "product b" accounting department.

• Matrix structure is amongst the purest of organizational structures, a simple lattice emulating order and regularity demonstrated in nature.

▪ Weak/Functional Matrix: A project manager with only limited authority is assigned to oversee the cross- functional aspects of the project. Functional managers maintain control over their...
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