Advantages and Disadvantage Funtonal, Matrix and Dedicated in Organizational Structures

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ASSIGNMENT – EMPM5103

MAY SEMESTER 2013 EMPM5103 – PRINCIPLES OF PROJECT MANAGEMENT ASSIGNMENT

OBJECTIVE: The assignment is intended to provide you the opportunity to evaluate and discuss critically three different principles of project management under the following tasks : Task 1 Task 2 Task 3 Organisation Structure Risk Management Project Planning

The details of the tasks are explained below:

TASK 1: ORGANISATION STRUCTURE

Question Discuss the relative advantages and disadvantages of the functional, matrix, and dedicated team approaches to managing projects. [20 marks]

TASK 2: PROJECT RISK MANAGEMENT

GiGi Incorporated The rapid growth of the telecommunications industry has made it apparent that executives at GiGi Incorporated perform risk management on all development projects. If GiGi were late in the introduction of a new product, then their market share would be lost. Risk management plays an important role to ensure their corporate survival and to chart a satisfactory Return on Investment (ROI). In the context of risk management, answer the following questions:

1

ASSIGNMENT – EMPM5103

Question a. b. Project risks can/cannot be eliminated if the project is carefully planned. Explain. [5 marks] The chances of risk events occurring and their respective costs increasing change over the project life cycle. What is the significance of this phenomenon to a project manager? [5 marks] c. d. e. f. What is the difference between avoiding a risk and accepting a risk? [5 marks] What is the difference between mitigating a risk and contingency planning? [5 marks] Explain the difference between budget reserves and management reserves. [5 marks] How are the work breakdown structures and change control connected? [5 marks] [30 marks]

TASK 3: PROJECT PLANNING TELO ENGINEERING (A) Telo Engineering has received a onetime contract to design and build 10,000 units of a new product. During the proposal process, management felt that the new...
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