Question

1- How would you benefit from an application of PM techniques in a project you may have been involved with? Consider how you would define the specific tasks and their respective durations in this "project." What were the goals of the project? What con- straints were imposed on the project managers?

3- Consider the relationship between a project team and the functional parts of an organ-ization. Who should have responsibility for approving specific tasks? If an engineer- ing task goes beyond its proposed duration and budget, who is responsible-the director of engineering or the project manager? In general, how do you think a com- pany that is functionally organized should deal with projects?

4- Suppose that your company has over a dozen projects to choose from-but can select only a limited few. What criteria would you suggest for ranking the projects? How would you ultimately decide which projects to select?
Project Managment Tools & trade-offs, Ted Klastroin, Page 21 Chapter 1

Answer 1

answer-

Project Management is the process whereby a single manager is responsible for planning, organizing, coordinating, directing and controlling the combined efforts of all functions and staff groups in accomplishing project objectives. there are techniques of project management which would help me in the project i am involed with-

The Work Breakdown Structure (WBS) is the basic cornerstone of project management. The WBS is a product-oriented family tree division of hardware, software, services, and other work tasks which organizes, defines, and graphically displays the product to be produced as well as the work to be accomplished in order to achieve the specified product.

Schedule planning involves the preparation of project schedules and includes the development of project master schedules and subordinate schedules, based on the Work Breakdown Structure, to insure that all elements of the project requirements including hardware, software, and support items are delivered on time. these schedulling can be done by PERT, CPM Gantt chart etc.

Financial Planning continues throughout the project. It involves the allocation of resources required for the project. Financial plans include project budgets, budgets for WBS elements and for subordinate cost accounts and work packages. Financial plans include expenditure plans based on rate of expenditure related to the availability of funds, capital investment plans, profit plans and the retention and use of management reserves.

the goals of the project would be completion of project activies in time or no delat at minimum cost.

the constraints in the project would be budget constraints, time constraints, man power constraints.

3- the project manager would be responsible because project manager is the authority who should supervise & control the activities of engineering department. the project manager is assigned because of the reason that activities in project do not get delayed or goes beyond its proposed duration and budget.

the company can either increase the project time & budget or increase the work time & jobs of team members so that the extra time & cost is incurred can be balaced with extra work time & performance of the team.

for example- a project task is to be done in 5 days with budget of $1000 but i got delayed & done 7 days & $1200 so company can take extra work time from the department which causes the delay & cost.

4- basically projects are prioritize based on the time, cost, profitabilty & complexity of the project.

high profitable & low cost project would be prefered first as compared to project which are less profitable but are complex.

Efficiency. The measure of efficiency shows a project’s ability to produce the desired outcome with the minimized possible consumption of the resources available to the project. If the project is able to turn inputs into output consuming fewer resources, then this project appears to be efficient. Common formula for calculating project efficiency is:

Actual Output
———————————– x 100%,
Standard Output

Changeability. It proves a project’s ability to realize the planned changes as well as to adequately react to any new changes that seem to be vital and important to project success. As the higher changeability is, as the greater impact the project has to the changing environment. This means your project is highly adaptable to the changes so the project gains more chances to produce the desired outcome under preset or altering requirements.

Manageability. This item determines how much a project can be led and directed using existing controls. The measure is characterized by:

• Planning
• Monitoring
• Leading
• Controlling

These characteristics determine whether your projects are manageable. Higher manageability entails higher effectiveness.

Coordination. This metric proves whether a project is well coordinated and whether it follows the adopted management plan. It relates to project effectiveness. The project manager coordinates the project effectively if this person is able to ensure that the project resources are used and consumed in pursuit of the specified goals and objectives. Remember: your project gets higher value if it is highly “coordinatable”.

Sustainability. It indicates whether a project is able to maintain continued development, without significant deterioration of the existing environment. Your project is sustainable if it generates the desired results without reducing its current productive capacity. Sustainable projects should obtain higher ranking.

*as EA, i can answer one out of multiple questions but i tried to answer all for your help.hope these answers would help you.good luck & rate.