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Assignment on Project Management

Assignment on Project Management

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Published by: diplococcous on Nov 20, 2009
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ASSIGNMENT ON PROJECT MANAGEMENT
ASSIGNMENT ONPROJECTMANAGEMENTBY RAHUL GUPTA
Q 1: What are the various characteristics of a project?What is the importance of each characteristic? Giveexamples?
Answer:
It is well known to all that the organizations continue to grow year by year. As there is aneed to grow it becomes necessary for a growing organization to resort to proper growth plan. The plan needs to be properly prepared. It is possible to prepare proper plans only if the manager has sufficient knowledge of the various process of the project envisage for growth. The manager has to work on the various life cycle stages and apply necessary planning tools to come out with a proper growth plan of the company. The varioustechniques of identifying the project items, work break down structure of the project, task duration, estimation etc are to be done meticulously.
Characteristics
Any project may be considered to have the following characteristics:
RAHUL GUPTA, MBAHCS (2
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ASSIGNMENT ON PROJECT MANAGEMENT
a)
Resource requirement
- During the course of executing the project, it is seen thatthe resource requirement increases from start to an intermediate stage of the project.It further increases at rapid rate and becomes constant while the project is during its80 to 95% progress stage. Thereafter the resources requirement decreases to zero i.e.when the project comes to a finish.
b)
Funds
- The requirement of funds for the completes execution of the project alsofollows the same trend as that of the resources. The two are more or less proportional.
c)
Probability of completion
- The probability of completing the project can beestimated based upon the normal distribution curve. In the initial stage of the projectthe probability of completing the project is low though not zero. It graduallyincreases and as the project approaches finish the probability of completing the project tends to become 100%.
d)
Risk 
- The risks involved in the project affecting its completion time is high at theinitial stages and low at the later stages of the project.
e)
Design changes -
The project during the course of its progress may be subjected tochanges because of some external factors. The influence of such external factors onthe project may result in changes in the design f the project though not very often. Itis
observed that such changes if any are normally high during the initial 
stages of the project and decreases as the project approaches finish.
Q 2: State the principles of Deming’s Philosophy relevant toProject Management. Explain how each one is applicable inmanagement?
Answer:
Dr. Deming's teachings and philosophy can be seen through the results they produced whenthey were adopted by the Japanese, as the following example shows: Ford Motor Companywas simultaneously manufacturing a car model with transmissions made in Japan and theUnited States. Soon after the car model was on the market, Ford customers were requestingthe model with Japanese transmission over the USA-made transmission, and they werewilling to wait for the Japanese model. As both transmissions were made to the samespecifications, Ford engineers could not understand the customer preference for the modelwith Japanese transmission. It delivered smoother performance with a lower defect rate.Finally, Ford engineers decided to take apart the two different transmissions. The
RAHUL GUPTA, MBAHCS (2
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SEM), SUBUJECT CODE- MBOO33, SET-1Page 2
 
ASSIGNMENT ON PROJECT MANAGEMENT
American-made car parts were all within specified tolerance levels. On the other hand, theJapanese car parts had much closer tolerances than the USA-made parts - i.e. if a part wassupposed to be one foot long, plus or minus 1/8 of an inch - then the Japanese parts werewithin 1/16 of an inch. This made the Japanese cars run more smoothly and customersexperienced fewer problems. Deming offers a theory of management based on his famous14 Points for Management. Management's failure to plan for the future brings about loss of market, which brings about loss of jobs. Management must be judged not only by thequarterly dividend, but by innovative plans to stay in business, protect investment, ensurefuture dividends, and provide more jobs through improved products and services. "Long-term commitment to new learning and new philosophy is required of any management thatseeksTransformation. The timid and the fainthearted, and the people that expect quick results, aredoomed to disappointment."
Deming philosophy synopsis
The philosophy of W. Edwards Deming has been summarized as follows:
"Dr. W. Edwards Deming taught that by adopting appropriate principles of management,organizations can increase quality and simultaneously reduce costs (by reducing waste,rework, staff attrition and litigation while increasing customer loyalty). The key is to practice continual improvement and think of manufacturing as a system, not as bits and pieces."
In the 1970s, Dr. Deming's philosophy was summarized by some of his Japanese
 
 proponents withthe following 'a'-versus-'b' comparison:
When people and organizations focus primarily on quality, defined by the followingratio, quality tends to increase and costs fall over time.
However, when people and organizations focus primarily on
costs
, costs tend to riseand quality declines over time.
Deming offered fourteen key principles for management for transforming businesseffectiveness.
Deming’s 14 Points for Management:
Create constancy of purpose toward improvement of product and service, with theaim to become competitive and stay in business, and to provide jobs.
Adopt the new philosophy. We are in a new economic age. Western managementmust awaken to the challenge, must learn their responsibilities, and take onleadership for change.
Cease dependence on inspection to achieve quality. Eliminate the need foinspection on a mass basis by building quality into the product in the first place.
RAHUL GUPTA, MBAHCS (2
ND
SEM), SUBUJECT CODE- MBOO33, SET-1Page 3

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