...Farah Allen Risk Paper #2 2/24/13 This case study evaluates the approach used in the evaluation of tender submissions. The application is used successfully for large high technology procurements. It is basically a two part process or two phase system. In Phase I, the goal is to establish a risk baseline that individual tender responses can be compared to. Phase 2 builds on Phase 1 where the goal is to compare the individual tender’s approach to the potential effects of risk on the project. The two phase process is a systematic process which helps to ensure the greatest attention and effort is focused on the high risk areas for the project. 1. Which case study does a better job at identifying risks? Explain why. Phase 1 and Phase II use the same process for identifying risk; therefore there is an equal level of performance. Determining which case study does a better job of identifying risks is made much easier by applying the definition. “Risk identification determines what might happen that could affect the objectives of the project, and how those things might happen.” The process should be comprehensive to ensure all key elements have been identified. The preferred method for risk identification is brainstorming. In Phase I and II the project team uses a risk WBS as noted in figure13.2 for Phase I and figure 13.11 in the text. The risk WBS was developed using brainstorming as discussed in Chapter 2, and each risk WBS item is reviewed. Any required clarification is...
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..., an intensive marketing campaign is necessary, that will raise awareness about entrepreneurship, and the facilities that are in place to aid an individual who is attempting to do so. The implementation of this marketing campaign will take place in three individual phases. These will be carried out as short, mid and long-term plans. The phase 1, short term plan will take place over a period of 6 months, as shown in figure 1. Thereafter, the phase 2 program of events is scheduled to be carried out over the following 18 months, while the third phase of the proposal is planned for the long term of the project, and will continue for at least 3 years thereafter. . Phase 1 The first phase of the project proposal will be focused towards the generation of the campaign committee. The campaign committee will be responsible for carrying out the entire project, and will therefore need formulated into a well ordered structure. The hierarchy of the committee will be essential in the success of the proposal, because clear lines of authority need to be observed and followed. The committee will require a structure that deals with all of the issues that the project may be required to approach. The head of the committee will be a campaign manager, who will be responsible for the general management of the project. He/she will be required to liase with...
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...used in phase 1 of the assessment process is based on project documents and the request for tender itself. Information for Phase 2 is derived from individual tenderer’s response. In phase 1, an appropriate system or element structure for examining the tender is developed and semi-quantitative approach is used to assess the likelihood of risks arising in each element and their consequences and then derive a baseline priority for each element and the project. In phase 2, the evaluation is modified according to the detailed approach each tenderer intends to adopt, and that tenderer’s capabilities. According to the text book some of the objectives of the risk assessment in tender evaluation are to provide an initial indication of where the major risks might arise in the project, prior to receipt or detailed examination of tender responses, based on a set of credible assumptions about how the project might be conducted. It also develops a risk baseline against which individual tender responses can be compared. It assist the project team to focus on potential risk areas, it provides a risk profile for each tender offer submitted and provides a documented audit trail. In Phase 1 a baseline is established against which tenders can be assessed before bids are received. In Phase 2 each submitted tender offer is compared with the baseline to develop a comparative risk assessment for each one. In phase 1 the structured and documented risk assessments are produced and in phase 2 adjustments...
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...A project audit provides an opportunity to uncover the issues, concerns and challenges encountered in the execution of a project. It affords the project manager, project sponsor and project team an interim view of what has gone well and what needs to be improved with the project to successfully complete it. If done at the close of a project, a project audit can be used to develop success criteria for future projects by providing a forensic review. This review will provide an opportunity to learn what elements of the project were successfully managed and which ones presented some challenges. This will help the organization identify what it needs to do so that mistakes are not repeated on future projects. Regardless of whether the project audit is conducted mid-term on a project or at its conclusion, the process is similar. It is generally recommended that an outside facilitator conduct the project audit. This ensures confidentiality but also provides the team members and other stakeholders with the opportunity to be candid. They know that their input will be valued and the final report will not identify individual names, rather it will only include facts. It is common that individuals interviewed during the project audit of a particularly badly managed project will find speaking with an outside facilitator provides them with the opportunity to express their emotions and feelings about their involvement in the project and/or the impact the project has had on them. This “venting”...
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...or two phase system. In Phase I, the goal is to establish a risk baseline that individual tender responses can be compared to. Phase 2 builds on Phase 1 where the goal is to compare the individual tender’s approach to the potential effects of risk on the project. The two phase process is a systematic process which helps to ensure the greatest attention and effort is focused on the high risk areas for the project. 1. Which case study does a better job at identifying risks? Explain why. Phase 1 and Phase II use the same process for identifying risk; therefore there is an equal level of performance. Determining which case study does a better job of identifying risks is made much easier by applying the definition. “Risk identification determines what might happen that could affect the objectives of the project, and how those things might happen.” The process should be comprehensive to ensure all key elements have been identified. The preferred method for risk identification is brainstorming. In Phase I and II the project team uses a risk WBS as noted in figure13.2 for Phase I and figure 13.11 in the text. The risk WBS was developed using brainstorming as discussed in Chapter 2, and each risk WBS item is reviewed. Any required clarification is provided by the team member most familiar with the risk. The primary objective for Phase I is to establish and document “a risk baseline against which individual tender responses can be compared.” The primary “objective for Phase II is to...
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...general tool business and organizations can use to develop and implement new information systems. The projects can be large or small. The SDLC involves a variety of steps, elements or phases, and personnel to complete the project. Essential Elements of the SDLC The process of the SDLC can be described like so: “is first conceived as an idea; then it is designed, built, and deployed during a development project; and finally it is put into production and used to support the business” (Satzinger, Jackson, & Burd, 2009, Chapter 2). The four formal elements of the SDLC are the planning, analysis, design, and implementation phases. These phases make up the framework for the project and break down the task of management. The course mentioned a fifth phase (support) that involves routine testing and monitoring of the final implemented information system (Satzinger, Jackson, & Burd, 2009, Chapter 2). Planning The first phase has been noted to be the most important. The business or organization recognizes a significant problem has to solve. Analysts will then work to produce a timeline or schedule of events that must occur up to project completion. The project must be reviewed to validate feasibility. Project managers will be assigned to staff and then launch the project (Satzinger, Jackson, & Burd, 2009, Chapter 2). Analysis In the second phase of system development analysts begins to acquire organizational information and set up specific system...
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...Standard Operating Procedure Personal Finance Project Team Author/s: | Lucille Olivier | Document Ref: | SOP | Creation Date: | 13 September 2011 | Version: | 1.0 | Last Updated: | 13 September 2011 | Table of Contents 1. Introduction 1.1 Introduction 1.2 Purpose 1.3 Project Framework 1.4 Project definition, prioritisation and approval 1.5 Project Process 2. Initiation Phase – The Needs Analysis Process 2.1 Initiating a Project 2.2 Stakeholder Analysis 2.3 Kick Off Meeting 2.4 Functional Specification 2.5 Initiation Phase Overview 3. Validation and Feasibility Phase 3.1 Technical Specification 3.2 Costing 3.3 Reporting Analysis 3.4 Pre Project Plan 3.5 Communication Plan 3.6 Risk Register 4. The Approval Phase * The business case * Motivational Documents 5. The Prioritisation Phase 5.1 The priority matrix 5.2 Resource Scheduling 5.3 The Prioritisation Phase Overview 6. The Execution Phase 6.1 Training plan 6.2 Operations plan 6.3 Communication plan 6.4 The Execution Phase Overview 7. Monitoring and Controlling Phase 7.1 The Monitoring and Controlling Phase Overview 8. The Closure Phase 8.1 Administrative Closure 8.2 Preparing project closeout and lessons learnt 8.3 Recognize and celebrate outstanding project work 8.4 The Closure Phase Overview Introduction * 1.1 Introduction A Standard Operating...
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...Project Management, 2e (Pinto) Chapter 1 Introduction: Why Project Management? 1.1 True/False 1) Projects, rather than repetitive tasks, are now the basis for most value-added in business. Answer: TRUE Diff: 1 Section: 1.0 Introduction Skill: Factual AACSB Tag: Reflective 2) Projects have a process orientation. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Definition AACSB Tag: Reflective 3) A typical project stays within functional and organizational boundaries. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Definition AACSB Tag: Reflective 4) The special nature of projects relieves project managers from their routine of planning, organizing, motivating, directing, and controlling. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Factual AACSB Tag: Reflective 5) A project exists outside of the standard line organization. Answer: TRUE Diff: 2 Section: 1.1 What Is a Project? Skill: Factual AACSB Tag: Reflective 6) The initial goal and technical specifications of the project are developed during the planning stage. Answer: FALSE Diff: 2 Section: 1.3 Project Life Cycles Skill: Factual AACSB Tag: Reflective 7) Client interest in a project is highest during the termination and conceptual phases. Answer: TRUE Diff: 2 Section: 1.3 Project Life Cycles Skill: Factual AACSB Tag: Reflective 8) The classic triple constraint standard for project performance...
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...shopper program. This project will “track purchases of individual customer's. The customer purchases will be tracked and accumulated as loyalty points for redemption by the customer for gift items, specialty foods and other products or services as made available through partnerships with other external companies” (Kudler, 2014). (Project Scope) “Project scope is a part of project planning that involves determining and documenting a list of specific project goals, deliverables, tasks and deadlines” (Rouse, 2014). Project scope is broken into several sub-categories: project objectives, goals, phases, tasks, resources, budget, and proposed schedule. Project Objectives – To track purchases of individual customers. The customer purchases will be tracked and accumulated as loyalty points for redemption by the customer for gift items, specialty foods and other products or services as made available through partnerships with other external companies. Project Goals and Phases – The project goal is to create a business/systems requirements document for the development of the Frequent Shopper Program system to meet the objective of this request. There are 4 phases of this project, and they are: * Phase 1: Define the scope and stakeholders associated with the project. * Phase 2: Determination of requirements, list of confirmed requirements, proposed system process view, functional allocation modeling, and logical model of the system. * Phase 3: Preliminary design...
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...THE MEANING OF PROJECT: A project is a unique venture with specific start and end dates. This is different from an ongoing task that doesn't have an end date. Projects often involve different parts of an organization. Constraints on project include cost, schedule, resources, and quality. There is a give and take between these items i.e. you can't have it all. Usually projects are divisible into stages or phases each with their own set of priorities and goals. A project is an important and carefully planned piece of work that is intended to build or produce something new, or to deal with a problem. The Project Management Institute, U.S.A. has a good definition for it. According to the Institute, a project is a one-shot, time-limited, goal-directed, major undertaking, requiring the commitment of varied skills and resources. It also describes a project as: a combination of human and non-human resources pooled together in a temporary organization to achieve a fixed set of objectives The aforementioned descriptions emphasize that a project does not mean a material body or form, rather it denotes an operation undertaken temporarily to achieve a goal-directed objective within a limited time. In contrast, the Oxford English Dictionary states that a project is "a plan, scheme or table of something; a tabulated statement; a design or pattern according to which something is made; something projected or proposed for execution; a proposal." It is, therefore correct to...
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...City of McMinnville Succession Plan & A Model for Small Tennessee Municipalities 1 Table of Contents Building a case for Succession Planning ....................................................................................... 6 National Statistics ........................................................................................................................ 6 Tennessee Public Management Statistics (TCMA) .................................................................. 8 Succession planning a component of Workforce Planning ......................................................... 8 Benefits of Succession Planning ................................................................................................. 10 Competencies ............................................................................................................................ 10 Timing ........................................................................................................................................ 11 Foundation ................................................................................................................................. 11 Additional Information and Preliminary Work .......................................................................... 12 Mission, Vision, Values, and Goals ...........................................................................
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...Risk Paper #2 Case Study – Tender Evaluation Marjorie Spitz Keller Graduate School of Management PROJ 595- Project Risk Management Instructor: Professor Bill Lewis Week 7 Date: April 20, 2013 Introduction In a tender evaluation process, it is vital to identify, assess and quantify risks that might be associated with the tender. According to Cooper, Grey, Raymond and Walker (2005), risk management is vital in the tender evaluation process, because risks associated with specific tender responses are identified at an early stage, so they can be addressed explicitly in the tender evaluation. The high-risk areas on which the greatest attention and effort should be focused in the evaluation of tender responses are identified. (Managing Risk in Large Projects and Complex Procurements.Ch.13, pg 148). The goal of this paper is to compare and contrast the two phases of the case study Tender Evaluation. “Phase 1 is concerned with establishing a baseline against which tenders can be assessed, prior to bids being received. Phase 2 compares each submitted tender offer with the baseline, to develop a comparative risk assessment for each one.”(Cooper, Grey, Raymond and Walker, 2005). Both phases are important in order to understand the risks during the tender evaluation process. ...
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...Electric Fan Facility located in Hangzhou, China. The COO of Riordan Manufacturing, Hugh McCauley has initiated a service request. This request is labeled SR-rm-022. The purpose of this request is to integrate a variety of the human resource tools into a single application. This document is to addresses the planning and analysis phase of a service request. The request is to encompass all plant locations. Design methods will be established to meet this request, requirements will be collected, the project scope and feasibility will be recognized, the stakeholders will be identified, and key factors to guarantee success in gathering information will be clarified. Project Scope The project scope is for a new system for the human resource department. The new human resource systems purpose is to take advantage of the more sophisticated, state of the art, information systems technology. It is extremely important that the scope be identified during initiation of the project as it guides the feasibility study and requirements. The boundaries of the project are identified by the scope of a project. The following must be identified while defining the scope: • Project...
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...04-75-100-Section 30 Introduction to Business Summer 2015 04-75-100-Section 30 Introduction to Business Summer 2015 Class meetings: | Tuesdays: 7:00 to 10:00 p.m. (OB B14) | Professor: | Prof. Nicole Anderson | Office: | Room 118 OB | Office hours: | Tuesdays, 5:30PM – 7:00PM | E-mail: | nsleiman@uwindsor.ca | Secretary:Office: | Ms. May NhanRoom 405 OB | E-mail: | nhan@uwindsor.ca | Teaching Assistants: | To Be Assigned | | | This course will familiarize students with business including marketing, operations, finance, accounting international business and human resource management. By the end of the course students should develop a general understanding of business including but not limited to its various applications and forms, key challenges to ethical decision-making, key success factors for a career in business, and the impact on, and the impact of, business on political, legal, social, cultural and economic environments. Methodology This class follows a lecture-discussion format. Students are expected to be prepared to discuss readings assigned for each class. With only limited time to meet during the semester, is it essential that students be prepared to engage, participate and contribute in each session. Lectures and readings will be supplemented by discussion, videos, and case studies, which apply concepts to real-world situations. Textbook, Other Materials and Course Web Site * Bissonette, G. 2012. Business:...
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...Project Management: Achieving Competitive Advantage, 3e (Pinto) Chapter 1 Introduction: Why Project Management? 1.1 True/False Questions 1) Projects, rather than repetitive tasks, are now the basis for most value-added in business. Answer: TRUE Diff: 1 Section: 1.0 Introduction Skill: Factual AACSB Tag: Reflective 2) Projects are typically ongoing, day-to-day activities that have goods and services as outputs. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Definition AACSB Tag: Reflective 3) A typical project stays within functional and organizational boundaries. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Definition AACSB Tag: Reflective 4) The special nature of projects relieves project managers from their routine of planning, organizing, motivating, directing, and controlling. Answer: FALSE Diff: 2 Section: 1.1 What Is a Project? Skill: Factual AACSB Tag: Reflective 5) A project exists outside of the standard line organization. Answer: TRUE Diff: 2 Section: 1.1 What Is a Project? Skill: Factual AACSB Tag: Reflective 6) Product life cycles are longer now than twenty years ago. Answer: FALSE Diff: 2 Section: 1.2 Why Are Projects Important? Skill: Factual AACSB Tag: Reflective 7) The emergence of global markets has made project management skills more critical. Answer: TRUE Diff: 1 Section: 1.2 Why Are Projects Important? Skill: Factual AACSB Tag: Reflective ...
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