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Q.1 Explain the nine steps which take project management to a New Horizon
Ans. The following nine steps are suggestive measures to provide new dimensions to the management of projects. Step 1: Believing in discontinuity and not continuity with incremental improvements Continuity or the status quo is a function of quantum of changes. Incremental improvements are valid only when the rate of change is not excessive. Both the continuity and incremental improvements are linked with the rate of change and quantum. Beyond a threshold of rate of change, one cannot go with the continuity and incremental improvements. The modern day Internet and technological based world has witnessed the unprecedented rate of change and explosion in the quantum of changes. It is this process which has resulted in making continuity theory as baseless. Continuity in principle is to preserve the past where as discontinuity breaks the linkage with the past to the extent it can have fewer constraints to move into the future. There is no choice except to believe in discontinuity as only then mind and body is prepared to accept the unknowns and be ready to face it and control thereafter. Step2: Owning the problems and sharing the solutions More one owns problem, more he becomes experienced. It is not the number of years of service one has performed for a company but how much number of problems was faced and owned is now becoming the benchmark to define an experienced person from inexperienced. The true spirit of entrepreneurial outlook is to own the problems and solve the same and in this process make Money. The fixed mould mentality is to empower the problems to be faced outside than oneself and get the credit for solutions. Step 3: Breaking the status quo mentality
If we seek comforts in conquering the uncertainties with planning and indomitable spirit of winning. Step 5: Human Capital by passing Financial Capital While the agriculture society witnessed the Nature as the foremost. 21st century in this Internet age is beginning to see the human capital surpassing the financial capital. Y . Return On Time Invested (ROTI) is basically based human efforts and its deployment. X. ROTI will be more meaningful to ROI in the context of new processes on their way to unfold in the beginning of 21st century. which they thought would create a brave new world.No change means perpetuation of the Present into the Future. Project managers can hardly afford to have status quo mentality as day in and day out they are involved in acting in present to affect Future. Its consequent failure in the last couple of years could not be attributed to the over faith in Human capital but absence of effective filtering mechanism from good to bad idea. Breaking the status quo mentality implies in taming the future as it is the future which becomes Present at some point of time. the 20th century saw the men-machine interaction as the key factor for the capital formation. then we are able to provide project leadership and inspire the team members to plunge into risk taking. At times. Focusing into Future and affecting the Present is antiestablishment and require concerted efforts to move out from the comfortable zones. when we do not get away from the status quo mentality.e. Step 6: Transform work culture from 5 to 7 dimensions Conventionally we all live in the conventional 5 dimensions of space i. The project managers of tomorrow are those who have so called comfortable zone carve out from that area which conventionally is uncomfortable and that is the zone of uncertainties. This is in contradiction to the nature as Future is not the extension of Present. While Return On Investment (ROI) could be seen as financial driven phenomena. Venture capitalists were all over the place to fund any idea. Step 4: Stepping out of comfortable zone As apart of the step 3 and in a way extension of it. the comfortable zone is to dear to break and cross. contradictions fall apart everywhere in the project between the two types of group. Fear of uncertainties makes the comfortable zone more comfortable than if the fear did not exist.the champions of future and those who believe in extending Present.
the new discovery or dimensions in project management heavily depends on the human factor of . The journey comes to a standstill if we get attached to the surroundings and to the results of the present beyond a small time frame. It is essential to make people to have a real communication about the change. The secret is to increase the encounters meaningful to ones own dream or passion profile. which make the total difference. It is his/her added 2 dimensions. They must move on. is a wasteful exercise instead concentrates on actions to the best of one’s ability. it becomes all the more difficult to see the real outcome of the change as it is partly distorted. The results so arrived at must be analyzed from the cause and effect relationship and constant learning must be made out of all such actions or group of actions. Step 7: Real number of encounters replacing number of years of experience The experience profile should be redefined by the number of encounters and problems faced instead of number of years. It is a must.and Z. If change is resisted. The new miracles in project management will take place when we bring the work of joy like in the art domain of music and paintings in our project work. Detachment from the results does not imply one should not demand or expect materialistic benefits. Attachment with the results of the actions often dilute one’s own energy and may shift one’s focus from the main road to its detour. In summary. Step 8: Seeking meaning out of change Change is first degree. We need to supplement on these 5 dimensions the additional 2 dimensions of Passion and Joy If we do what we want do then the gap between Wish and Reality is so little that one is in position to provide its very best. no. It depends how one looks at it. One of the major strategies to bring about a change is to communicate. To get the reward as a reaction to the action is not within one’s purview. Too much emphasis on that part. which is not within our control. Project managers and team members are never stationary. Change can be threat or an opportunity. leave it and move forward rather than brooding over that part which is not within one’s control. Step 9: Detachment from the fruits of the results To act is within one’s control. communicate and communicate. it only means that in case you do not get what you deserve. Time and Mind. Project implies change and that too a temporary one. The wisdom evolved based on encounters is far richer than accumulated simply by repeating the same encounters n number of times in one’s employee ship.
detachment with the results rather than with the actions. ANS. without overchecking. . and can use humor as a relief.Through leading by example. The balance is in checking often enough for scope and length of the project.2 Discuss the traits of a successful project manager. Good Reactions – Anticipates problems and plans as he can to handle or avoid them. and understands how the teams efforts are integrated in the whole of the project. The manager understands people. Not Scattered – Can handle mulitple tasks with proper focus. human capital surpassing that of financial capital. she can also look at the big picture. He or she has many of these abilities: In Touch – Regularly checks the “pulse” of the project. Everyone respects and trusts the manager and his actions. getting motivated all the time. Focused Picture – When buried in details. TEN TRAITS OF A SUCCESSFUL PROJECT MANAGER This short article highlights some of the best traits of a successful project manager. Quality Workmanship .breaking ceilings. breaking the status quo mentality. working with passion. Rock-solid – Has a solid character. owning the problems and solutions and creating discontinuity. Q. quality outcomes and products are achieved. The journey has just begun and it must continue as in the human race. there is no finishing line. His management style is balanced between multi-tasking and focusing on the important details and tasks. Good Vibrations – Has inner and outer warmth. Does the Job – Has a preference for action – doesn’t wait for issues to resolve themselves. This trait is connected to good time management.
and effecting change. It is a key trait to be able to understand when decisions have to be made by the manager (as opposed to letting others intercede or make decisions for the manager by default. The Change Management Model The model follows a 3-phase. don’t struggle against change. or technologies). A good PM doesn’t get buried learning complex project management tools – especially if she does not yet know the theories or uses behind techniques (such as earned-value management or PERT charts). learn to use it to your advantage. change management means defining and implementing procedures and/or technologies to deal with changes in the business environment and to profit from changing opportunities Successful adaptation to change is as crucial within an organization as it is in the natural world. Click on the graphic below to view the phase and step descriptions. . including: adapting to change. For an organization.) Leverages Tools – Learns and uses tools to help manage projects. A proactive approach to dealing with change is at the core of all three aspects. 8-step process which is represented graphically below. but Unbreakable – Has flexibility. change management has at least three different aspects. The more effectively you deal with change. Q. Adaptation might involve establishing a structured methodology for responding to changes in the business environment (such as a fluctuation in the economy. A somewhat ambiguous term. both from the perspective of an organization and on the individual level. Ans. controlling change. but can make firm decisions. or a threat from a competitor) or establishing coping mechanisms for responding to changes in the workplace (such as new policies. 2) In a computer system environment. what operating system release is running on each computer and which fixes have been applied). the more likely you are to thrive. the author of Paulson on Change.Bends. Terry Paulson.3 Define the change management model. organizations and the individuals in them inevitably encounter changing conditions that they are powerless to control. 1) Change management is a systematic approach to dealing with change. Just like plants and animals.” In other words. quotes an uncle’s advice: “It’s easiest to ride a horse in the direction it is going. change management refers to a systematic approach to keeping track of the details of the system (for example.
Therefore. the greater the resistance and reaction. • The unresolved effects of change are cumulative. the greater the investment in the status quo. but they will not neutralise their feelings of loss. those who appear OK really are • People “hear” what senior management communicates • People take senior management communication at face value • If the communication is done “right” the first time. • Rewards and incentives can cause people to change. how we “do business” will change • The transition behaviour of the senior management is invisible to the rest of the organisation • Pressures that caused the change will be seen in a rational manner We suggest these misconceptions require a thoughful approach from those . • The longer a group / individual / situation has remained static. • The higher the involvement in change. • The intensity of emotional reaction is proportionate to the speed of change. Dealing With Change Misconceptions • Change happens quickly • Survivors are glad they have a job • Time takes care of everything • Everyone who is not on board has something wrong with them • The weak people are the ones who leave • During change. it is enough • By changing the formal relationship. the less negative the inevitable reactions.A change management model Dealing With The Truths of Change Leaders of change take note: • Emotional reactions are at least as important as any other aspect of implementing change.
when those limits are reached they cry enough and resist further change Revert . They are often uncertain of their future.nobody understands. What Happens when your Organisation Undergoes Change? People frequently feel overwhelmed when there are major changes within their organisation. This especially happens when people have been in the organisation for a long time. Effective leaders of change are aware of these not uncommon individual .people easily revert back to known behaviours Because we are all individuals we react differently. Some of the common reactions to change result in the following behaviours at work: Drop in morale Drop in work outputs and Drop in productivity Drop in Manager’s credibility Drop in Commitment to the organisation and work Drop in levels of service Staff resisting change or conflict and making life difficult.opportunities. Self-conscious . Consequently the following fear of change reactions may occur. ie. Staff “bad mouthing” the organisation/management or behaving in negative ways because they feel angry and/or threatened and want to hit back at the organisation.the only one feeling the effects Missing .leading change. security taken away Alone .commitment goes. People generally feel smaller. the unlucky one Lethargic. job. energy levels drop Limits . and the future of their colleagues in the organisation.each person has limits to the amount of change they’re comfortable with Enough . status.
“The dogmas of the quiet past are inadequate to the stormy present. equity risk. so we must think anew and act anew” Abraham Lincoln Q. strategies development to manage it.4 Describe the three major classification and categories of Risk management. and mitigation of risk using managerial resources. Effective handling of risk ensures the successful growth of an organization.The occasion is piled high with difficulty. They plan how to deal with change by acccepting that employee anticipation and fear of change is a significant organisational risk unless people can be encouraged to learn and engage with the change and reflect upon the choices and options available to them. commodity risk. About Types of Risk Management Commercial enterprises apply various forms of risk management procedures to handle different risks because they face a variety of risks while carrying out their business operations. Risk management is a structured approach to managing uncertainty related to a threat.reactions to change. and currency risk TYPES OF RISK MANAGEMENT TECHNIQUES Risk management is a business process in which a business analyzes risk in . such as interest rate risk. As our case is new. a sequence of human activities including: risk assessment. Various types of risk management can be categorized into the following: · OPERATIONAL RISK MANAGEMENT: Operational risk management deals with technical failures and human errors · FINANCIAL RISK MANAGEMENT: Financial risk management handles non-payment of clients and increased rate of interest · MARKET RISK MANAGEMENT: Deals with different types of market risk. and we must rise with the occasion. Ans.
Focus efforts through Programme/Projects/Mission oriented approach. Identify the critical technology and make a deliberate choice for indigenous development. Organizations must identify risks and assess how dangerous each risk could be to the organization. Guidelines for development of high technology Some guidelines in the form of rules which help organization to be strong in this area. Rule4. Focus on Problem Forecasting and Prevention. Spot the competency of divisions and empower them for technology development. Rule6. Always aim one step higher in performance. Build concurrency into every activity. Rule8. Rule2.5 List and explain the 10 rules which serve as the guidelines for development of high technology. Rule7. Rule10. Risk management should be continuous and revisited at intervals the organization deems appropriate. Rule9. Ensure redundancy for critical systems and technologies. Q. Ensure continuous and integrated Performance Measurement. Focus on multi use technologies. Rule3. . Taking steps to eliminate risks will reduce the possibility of a financial loss. Rule1. Rule5.an effort to miminize the effects of such risk. Build long term partnership with all the stake holders. Ans.
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