...Concept of Project & Project Management Under guidance of: Dr. Alok Rai Associate Professor Presented by: Ashutosh Mishra MBA-Marketing FMSBHU Flow of Presentation •What is a project? •Features of Project •Project Management •Project management vs. general management •Project Life Cycle •Phases of Project life cycle •Bangalore Metro Rail Project •Conclusion •References 2 What is Project? The word project comes from the Latin word projectum which means "something that comes before anything else happens". Source: www.wikipedia.org A project is “a unique endeavour to produce a set of deliverables within clearly specified time, cost and quality constraints”. -Jason Westland, CEO MPMM “Trying to manage a project without project management is like trying to play a football game without a game plan.” - K .Tate 3 Features of Project Unique in Nature Defined Timescale Limited Resources Element of Risk Approved Budget Beneficial change Source: Project Management Guidebook 4 Typology of Projects Strategic 2-5 years. High degree of change to customers. Highly complex. Systems 1-2 years. Medium degree of change to customers. Medium complex. Operational Up to 1 year. Low degree of change to customers. Less complex. 5 What is Project Management? In project management a project consists of a temporary endeavour undertaken to create a unique product, service or result. It...
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...Project Management Concepts and Applications Paper Business Management Research Associates (BMRA) teaches Defense Acquisition University (DAU) and Federal Acquisition Institute (FAI) certified courses and elective courses to various agencies worldwide. While BMRA is quite a small company, there is always a need for project management. I have not always been able to lead the projects; I have been a part of the project team to get the work completed, more like an assistant to the project manager. A project that falls under this scope is the one involving the DAU/FAI certification of course materials. The DAU/FAI certified courses offered by BMRA are set to expire this year on September 30, 2015. From October 1, 2015 forward, the expired courses are not valid for credit for students. DAU replaced the expired courses with new ones. The project’s primary goal is completing the certification process for all the required courses before the September 30, 2015 deadline both within time and budget for the company. The DAU/FAI certified courses are BMRA’s primary source of revenue, therefore making this project of the utmost importance. The courses affecting BMRA are listed in the chart below. Previous Course (Expired) Replacement Course (New) CON 215: Intermediate Contracting for Mission Support CON 280: Source Selection and Administration of Contracts CON 217: Cost Analysis and Negotiation Techniques CON 270: Intermediation Cost and Price Analysis CON 218: Advanced Contracting...
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...* Table of Contents 1 Introduction 2 2 The meaning of “project” 2 3 Project stakeholders 4 4 Meaning of project management 5 5 Factors influence on project 5 6 Project management theory 6 7 Project Management Tools and Technique 7 7.1 Cost benefit analysis (CBA) 7 7.2 Gantt chart 8 7.3 Work breakdown structure (WBS) 9 8 Project management software (PMS) 10 9 TQM 11 10 Critical Path Method (CPM) 11 11 Management by Objectives 11 12 Conclusion 12 13 References 12 14 Bibliography 13 Appendix A : Nine Project Management Areas 14 Appendix B : Project lifecycle 17 Appendix C :Common project Management tools and Techniques 19 OVERVIEW OF PROJECT MANAGEMENT TOOLS AND CONCEPTS IN A HOSPITALITY & TOURISM ORGANIZATION Introduction Project management (PM) facilitates to a structured approach to managing projects for project managers. PM reduces risk and provides assurance by providing tools at the same time environment to plan, observe, track, and deal with schedules, quality as well as resource.PM can be applied into both soft and hard projects such as personnel projects, IT, construction, finance, sports, and event planning, HR etc. Project management gives advantages like; a. Better control of financial, physical, and human resources b. Improved customer relations c. Shorter development times d. Lower costs e. Higher quality and increased reliability f. Higher profit margins ...
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...financial statements. INTRODUCTION At the October 2004 joint IASB-FASB meeting, the Boards agreed to add to their respective agendas a joint project to develop a common conceptual framework—a single framework that both converges and improves upon the existing frameworks of the two Boards. (The Boards had previously discussed a staff proposal for this project at their April joint meeting.) The Boards also agreed that the project should be divided into phases. Initially, the focus will be on objectives, qualitative characteristics, elements, recognition, and measurement. The Boards will give priority to addressing issues that are likely to yield benefits to the Boards in the short term, that is, cross-cutting issues that affect a number of their standards-level agenda projects. Therefore, the first step is to identify and prioritize those cross-cutting issues. Possible examples that the staff have suggested include the meaning and role of reliability; the definition of liability; the meaning of probable; the effect of conditions, contingencies, or other uncertainties; the unit of account; and accounting for contractual rights and obligations, as explained further below. Initially, the Boards will focus on concepts applicable to business entities in the private sector. Later, the Boards will consider the applicability of those concepts to other sectors, beginning with not-for-profit entities in the private sector. The Boards agreed to put the converged framework into a...
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...Insurance Contracts This project deals with the accounting for insurance contracts. As stated on the site, “accounting for insurance contracts does not provide users with the information they need to meaningfully understand the insurer’s financial position, performance and risk exposure.” Additionally, IFRS does not provide the proper guidance to how insurers should handle certain issues. The main goal of the Insurance Contracts project is to provide a single principle-based standard to account for all types of insurance contracts. Also, because comparability between entities is largely lacking today, the Insurance Contracts project also aims to enhance the comparability of financial reporting between them. The Insurance project is broken down into 2 phases. The first phase coincides with the issuance of ‘IFRS 4 Insurance Contracts,’ which “offered limited improvement in account by insurers and enhanced disclosures on amount, timing and uncertainty of future cash flows from insurance contracts.” Phase 2 will be the issuance of a new Insurance Contracts Standard, which will actually replace IFRS 4 (Insurance Contracts). Leases The Leases project deals with the reporting of lease information to investors and analysts. The main goal of the project is to develop a new standard that will establish the guidance for entities to follow on reporting information regarding the amount, timing and uncertainty of cash flows arising from a lease. As stated in the work plan, in...
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... Strengths Most of my strengths come from my service in the Marines. Furthermore, the concepts that were taught in classes were not just for study, but practical applications of those concepts in real world scenarios. These concepts were most important and driven to the extreme when I joined the Teams (Force Reconnaissance); so, as a result, my primary influence for being an effective leader was in Force Recon. The first strength that was assessed was my decisiveness in making quick and correct decisions in a crisis situation. Decisiveness, from the military definition, reflects a range of possible outcomes. From Exacerbated to Resolution; this is not to be confused with Achievement. In Achievement, the basic concept considers the performance on how someone would execute a strategy; basically, how someone performs in combat. These same characteristics found in decisiveness, can be transferred to business as well. This is one reason for my success in my current business. The second trait I possess is being an excellent communicator whether it is in the military or business. Communication is very important to me and my business; without it, none of the projects would ever be completed. The theory to effective communication is feedback; did my employees understand what I was trying to convey? Did my Marines here the orders and understand what needs to be done? This basic concept is vital to...
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...We have carefully studied the qualitative research output and brand positioning strategies that the Project Score team has worked on and developed. Based on further research and analysis, we strongly recommend that Saxonville launch its Italian sausage product under the new name “Italy’s Best by Saxonville”. We also recommend positioning the brand using the “Family Connection” concept. Assessment of Research Methodology Project Score team has done very well in understanding the target consumer behavior, values, and unmet needs using the four-step research methodology. Step one of the process was a round of qualitative research consisting of preparing and conducting pilot group sessions. The groups consisted of 25-50 year old housewives or heads-of-households, identified as the target consumer using Attitude and Usage (A&U) data, and helped gain the insights, behaviors and needs of this demographic. Step two of the process was a sequential round of consumer sessions where researchers used the knowledge from step one to develop themes for strategic positioning. This phase allowed researchers to get the rational and emotional benefits that the Italian-sausage-consumers are looking for: making a quick and wholesome meal that the family could enjoy together, despite their hectic schedules. By analyzing the themes of Family Connection, Clever Cooking, Confidence, Appreciation, Quick and Easy, and Tradition, the team was in a better position to decide where their company had...
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...Guidelines MBA 610 Team Paper The goal of this project is to better understand your team’s functioning by applying concepts you read about in the textbook and that we discussed in class to analyze your team. You will write one team paper per team using the following exercises and readings done in class: * Everest Simulation * Coursepak Reading: How To Play to Your Strengths * Chapter 7 Team Dynamics; * Chap. 8 Communicating in Teams and Organizations In addition, and when applicable and useful to you, use some key concepts from other chapters such as Motivation (Chap.5 ), Perception(Chap. 3 ), Leadership (Chap.11 ), Conflict Management (Chap.10 ) to help explain your team’s functioning and development. When using concepts from the textbook, exercises or coursepak to explain your team’s functioning and development, explain not only which concept you find useful, but also explain why—what did it help you better understand and learn about teams and organizations? Give examples. For example, in some teams, communication breaks down and can cause misunderstandings and hard feelings, as well as conflict. Explain the specific example of what happened in your team, explain the concept from the textbook that helps explain how communication broke down and its impact on individuals and the team, and what you learned as a result of using the course concepts to analyze your team functioning. What could your team do differently next time as a result of what you learned...
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...For the first while we discussed a few different event concepts: Conference on a Saturday - TED Talks, TEDxLinköping - Something like TED talks, combination of short and long talks, some way to get Hans Rosling to come to Linköping We decided that the Saturday conference would be too much, given the amount of time and lack of a concrete idea. An official TEDx conference would be very limiting (due to their rules) so instead we discussed how to use the same concept (many short talks) in a different way. The alternative we came up with was a half-day (plus a bit) conference/lecture series during a weekday in May. It would likely start around noon with lectures, then have an hour or so of workshops, then a social event in the evening. To encourage people to participate in the whole thing (and skip class), all the activities should make up a "concept" (as opposed to a bunch of unrelated activities. All the content should focus on one topic. It should take place before exam panic starts in mid-May. The event will be organized by a project group. The group's leader should be decided by the second board meeting in January. *Instructions for the project group* - Organize a free event for our members focused on encouraging learning and interest in foreign affairs. (The social event doesn't have to be free) - The event should have a theme (for example, TEDxUniversityOfGothenburg had 'Water' as their theme) Goals for the...
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...Product Development Overview Break Project Descriptions Team Activity 30 min 45 min 10 min 20 min 60 min PhD in Electrochemistry from UT Austin (1985) IBM: Research and Development (1985 ‐ 1992) 3M (1992 – 2011) ◦ Semiconductors for Solar Energy Conversion ◦ T J Watson Research Center ◦ ◦ ◦ ◦ DFSS Master Black Belt Electronics Business Technical Director for APAC (Shanghai) 3M Taiwan Technical Director (Taiwan) Electronic Solutions Global Technical Director (Singapore) Adjunct Professor NUS Department of Engineering & Technology Management Founded JRW Consulting (www.jrwconsulting.com.sg) (2011) Enjoy distance running, diving, hiking, photography To prepare you for making business decisions, for new businesses, products and services, by providing you with the necessary knowledge and tools. The Basics Technology &Design The Business Sessions 1‐4 Sessions 5‐8 Sessions 9‐13 NPI Systems QFD Intellectual Property Stage Gate Robust Design Business Models Lean NPD Data Analysis Finance Market Assessment Prototyping Value Chain Predictive Engineering Project Management Technology Planning Portfolio Management Customer Engagement We meet every week from 6 – 9 pm. Be on time!! Each week consists of ◦ Quiz or discussion of projects or case studies ◦ Lecture or Presentation on a project relevant topic ◦ Project team preparation ...
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...Household Products Limited Q1. No, the company should launch nationally. The data to support this is as follows: The actions we suggest for this product are: i) Change the fragrance – jasmine is so been there done that ii) Maybe target those segments where Jaimala is not a leader iii) Use the non-animal fat appeal in a different way; appeal to the animal conservationists, the self-styled Maneka Gandhis and those who have an issue with rubbing animal products all over themselves. Q2. Process followed to introduce the new product 1) Idea generation a. High price sector b. More profitable, faster growth 2) Concept development a. Perfume section selected out of soaps with medical benefits, perfumed soaps and soaps with cosmetic appeal b. Jasmine has connotations of luxury c. New added benefit- Purity- made from pure vegetable oil 3) Business Analysis a. Feasibility report b. Pricing- Rs. 7.50 per cake 4) Product & Advertising development a. 2 different jasmine perfumes developed b. Product test- Comparison with each other and with Jaimala, 3 panels of consumers consisting of women in the age group of 18-35 years chosen. One of the perfumes was found to be superior to the other and marginally more preferable than Jaimala’s. This perfume was chosen. c. Advertising campaign- focus on purity and luxury 5) Test marketing a. Indore and Hyderabad...
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...Accounting and its role in society Accounting is concerned with collecting, analysing and communicating economic information (Atrill & McLaney, 2004, p1). However in order to develop a broader understanding of accounting and the central role it plays in society, we need to consider it from a social perspective. Individuals in society coexist by establishing relationships with each other. Another way of viewing society is by segmenting it into different groups or arenas, for example the social, economic, organizational and political arenas (Kyriacou, 2007, Lecture 1, p4). In order to function effectively, these different arenas need to communicate and it is accounting information that facilitates this communication. According to Kyriacou (2007, Lecture 1, p5) accounting information serves many important purposes, for example assisting users in making informed decisions, in relation to the effective allocation of scarce resources. Therefore accounting information can be seen to be a potent influence in society, which affects everybody. This is illustrated by the National Coal Board case (Cooper et al, 1985, p10) were the measurement of accounting profit was used to justify the closure of coal pits, causing an impact on electricity prices, jobs and taxes. Accounting has a long history and as demonstrated by Hines (1988, p251-261) it is seen as being socially constructed i.e. it is practised by people for people and therefore it is more of an art rather than a science. Unlike...
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...investment in an early stage company. The entrepreneur, Jack Brandon, did demonstrate proof of concept with his titanium-alloy technology for cauterizing; but didn’t even define the commercial viability. Further he introduced more complexity by adding a forceps project to the initial cauterizer project. The investing partners will obviously set high targets for the new money that’s being demanded which will in turn sour the 18 month relationship between Christian Harbinson and Jack Brandon. To begin with, it is necessary to answer the following questions – the opportunity cost of not reinvesting for new project in Seven Peaks, the market size (in units per year), price elasticity, are these premium products that could outsell the existing ones because of superior performance? In my opinion, Brandon should be looking to launch a new and improved version of his cauterizer before exploring the forceps idea. Once it’s a successful product he can consider the cross-selling synergies that would arise from marketing forceps. It has been quite clear that Brandon is not a marketing expert and that why the first product didn’t reach the desired level of success. Seven Peaks essentially need marketing specialists. Harbinson himself needs to take initiative to develop Brandon’s entrepreneurial capabilities. He ask a time period of say 3 months to fully develop a new proposal for the existing cauterizer project with modifications and then ask the investors for reinvestment. Like many entrepreneurs...
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...children. Young children’s conceptual change has not been as widely studied as that in older students. The researcher in this case study suggested that conceptual changes as a party of the learning process should be viewed as a life long process, which begins before children enter school. Six-year-old children undergo floating and sinking during their conceptual change process. This article attempted to describe this process and how social discourse during the process of knowledge construction is linked to the change in children’s concepts. Conceptual change had generally been examined only through cognitive functions as a general process without consideration of the context before this case study. The children that were selected for this study were pre-schoolers age six. They all hailed from the city of Joensuu, Finland and were from the kindergarten involved with the ESKO research project. The groups wanted to participate in the study, but the researchers taught the topic after the teachers disagreed. The children came from two different groups in the kindergarten with mixed genders. The research was conducted into three parts: pre-interview, instructional process, and post-interview. The pre-interview consisted of two parts that aimed to determine the children’s present knowledge and experiences of floating and sinking. First, the children were ask to explain what they thought the terms ‘sink’ and ‘float’ meant...
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...Good to Great: Why Some Companies Make the Leap... and Others Don’t ‘Good things take time, but great things happen all at once.’ – Rat Race. Jim Collins counters criticisms on Built to Last with Good to Great, by unfolding sought-after information on how to turn a company into a great one. ‘Good to Great: Why Some Companies Make the Leap…and Others Don’t’ written by Jim Collins in 2001 is the outcome of a rather ambitious research project. Collins and his team studied 11 companies, chosen out of 1,435 companies, which were able to transform themselves from ‘good’ companies to ‘great’ companies. These 11 companies were included based on at least 15 years of advanced performance. The research demonstrates the course of action that ‘good’ companies take on their journey to becoming ‘great’. Jim Collins began his research as a Stanford Graduate School of Business faculty member. At Stanford University, Collins has degrees in mathematics and business administration, as well as degrees from the University of Colorado and the Peter F. Drucker Graduate School of Management at Claremont Graduate University. In 1995, he founded a management laboratory in Boulder, Colorado where he continues to perform research and discuss his findings with executives from social and corporate areas. Collins has worked with CEOs in several companies and social sector organizations. He is the author and co-author of five books that revolve around his research including Built to Last, with Jerry I. Porras...
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