Question-4 – Assignment-1 of SMU – MBA Book of MB 0028

Below is already published Question 1st, 2nd and 3rd in MBA assignment blog. Now, I am going to published 4th question of MB 0028 Book.

(Production and operations Management)MB 0028.

Question 4. What are the various steps in project monitoring and controlling a project?

Answer: Here we elaborate the project monitoring and control.

Any project aimed at delivering a product or a service has to go through phases in a planned manner in order to meet the requirements. It only by careful monitoring of the project progress. It required establishing control factors to keep the project on the track of progress. The results of any stage in a project, depends on the inputs to that stage. It is therefore necessary to control all the inputs and the corresponding outputs from a stage. A project management may use certain standard trolls to keep the project on track. The project manager and the team members should be fully aware of the techniques and methods to rectify the factors influencing delay of the project and its product. The methodology of PERT (programmer Evolution Review Technique) and CPM (critical path method) may be used to analyze the project. In the PERT method one car find out the variance and use the variance to analyze the various probabilistic estimates pertaining to the project. Using the CPM one can estimate the start time and the finish time for every event of the project in its WBS (work Breakdown Structure).

The analysis charts can be used to monitor, control, track and execute a project. Typical PERT/ CPM exercise of a project are worked out at the end of this sub unit- 9.2. The various steps involved in monitoring and controlling a project from start to end are as follows-

1. Perlirninary work- the team members understand the project plans, project stage schedule, progress controls, tracking the dules. Summary of the members have to understand the tolerances in any change and maintain a change control log. They must realize the need and importance of quality for which they have to follow strictly quality agendas. They must understand the stage status reposes, stage and reports, stage end approval reports.

2. Project progress- The members must keep a track of the project progress and communication the same to other related members of the project. They must monitor and control project progress, through the use of regular check points, quality charts. Statistical tables, control the quality factors which are likely to deviate from expected values as any deviation may result in change to the stage she duel

3. Stage control- The manager must establish a project check paint cycle. For this suitable stage version control procedure may be followed.

4. Resources- Plan the resources required for various stage of the project. Brief both the project team and the key resources about the objectives of every stage, planned activities, products, organization. Metrics and project controls.
5. Quality control- This is very important in any project: Quality control is possible if the project member’s follow-

Schedule quality review, Agenda for quality review, conduct quality review and follow up.

6. Progress control- It is the main part at assessment-

Progress control assesses- monitor performance, update schedule, update casts, Re-plan stage schedule, conduct team status review etc.

Along with we create status report, create flash reports, project status reports etc.

7. Approvals - lastly, project sage reviews and the decisions taken and actions planned need to be approved by the top management. The goals of such review are to improve quality by finding defects and to improve productivity by finding defects in a cost effective manner. The group review progress includes several stage like planning, preparation and overview, a group review meeting and rework recommendation and follow-up.

Question-3 – Assignment-1 of SMU – MBA Book of MB 0028

I have already mentioned in my introduction of MBA blog that the blog will tell you only about the assignment of MBA of SMU. In the first question we have already published two posts that contain 2 questions. Both questions are related to Production and Operation Management book of MB 0028.

Here I am going to publish my 3rd questions of 2nd semester assignment of Production and Operation Management.

Question 3. Who are the players in a project management? What are the various roles and responsibilities of the players in a project management?

Answer. At first we will discuss about project management then we will discuss about players in project management. Project management is the practice of controlling the use of resources, such as cost, time manpower, hardware and software involved in a project. That starts with a problem statement and end with delivery of a complete product.

Here we will see the participants of project management:

In the project management players individual and organizations both are involved-

That is actively involved in the project whose interests may be affected by the outcome of the project.

Exert influence over the project and its results players or also called “stake holders’’ of the project
Project manager- the individual responsible for managing the project.

Customer- the individual or organization that will use the product- the end result of the project.

Performing organization- the enterprise whose employees are mast directly involved in doing the work of the project.

Sponsors- the individual or group within or external to the performing organization that funds the project.

Now, we will define the role and responsibilities of project management. Here are some roles and responsibilities:

There are number of projects which an organization works on. It is not possible for one individual to manage all the projects.

There is a team of mangers who manage the projects.

There may be different teams working an different projects.

An experienced project manager and this team may manage more than one project at a time.

The project team is responsible for ensuring that the project upon completion shall deliver the gain in the business for which it is intended for.

-the project team has to properly co-ordinate with each other working on different aspects of the project.

-the team members are responsible for the completion of the project as per the plans of the project.

Characteristics of project mindset: - some of the characteristics of project mindset are the following –

Time - it is possible to improve the pace of the project by reducing the time frame of the process. The mindset is normally to work in a comfort made by stretching the time limits.

Responsiveness – it refers to quickness of response of an individual. The vibrancy and livens of an individual or an organization are proportional to its capability of evolving process and structure for superior responsiveness time constant.

Information sharing – information is owner information is the matter key to today’s business. Information sharing is the characteristic of the project mindset today.

Process – project mindset lays emphasis on flexible process. The major difference in a process and a system is in its capabilities of providing flexibility to different situational encounters. Flexible process possesses greater capabilities of adaptability.

Structured planning – structure planning based a project management life cycle enables one to easily and conveniently work according to the plan.