NAME: USAMA AZIZ

Rollno: MBPM-f18-017
Question # 7

Short Question Answers

1. What are the Advantages of Using Project Management? Also write down the definition of What
is Project Management.

ANS:

Definition

The project management is the application to meet particular project goals of the requirements of project
approval in the accepted conditions of the project, of procedures, strategies, expertise, information and
experience. Management of programmers has final deliverables limited to a limited time and budget.

A main aspect that differentiates project management from "management" is that, opposed to
management, it has this ultimate deliverable and a certain amount of time. This means that a skilled
project manager needs a wide variety of expertise; often tactics and definitely managerial skills and strong
business knowledge.

Advantages of project management

 Enhance the odds of getting the answer you like

 Get a fresh look into and how your company plan works.
 priorities and make effective use of your company tools
 Set the scale, timetable and budget from the beginning correctly
 Keep on track to manage budget expenses to capital
 Enhance efficiency and job satisfaction
 To foster clear contact between workers, vendors and customers
 meet the diverse needs of the project participants
 Mitigate project risk loss
 Enhanced loyalty of consumers
 gain a strategic edge and maximize your benefit

2. Write down the Effective Project Manager Skills. Also, what are the main qualities required for a
successful project manager.

ANS:

Effective Project Manager Skills Qualities for a successful project manager

Communicative Efficient capacity to communicate.
Management Good organizational capabilities
Organization Strong maker of decisions
The negotiating process Skill of technology
Management of teams Encourage a collective vision
Control of time Skills to create a squad.
Regulation of threats Pressures cool
Solution of issues Strong diplomatic capabilities
Control of the budget Endurance
Inspired Competitor ship
technical writing technical writing Efficient capacity to communicate.
Accommodation Good organizational capabilities
Technologically competent Strong maker of decisions
Capacity monitoring
Listening active

3. Explain the differences between risk and issues? Also, name a few types of risks you may
encounter in a project

ANS:

Issues
Risks
The project could leave a critical resource A squad manager gives up

Project team members could have holidays during When team members take their breaks, no one can
the project's crucial period. be proven.

Changes to the specifications can be unforeseen.
After an impact study, something different might
pop up that will push the project dates.
New features have been defined, and should be
included in the project scope.
The impact review created two additional
amendments that moved the project deadline up to
a week.

Types of risks:

 Cost risk
 Schedule risk
 Performance risk

4. What are the fundamental qualities required for a successful project manager? Also, how do you
define an ideal project?

ANS:

 Communication
 Leadership
 Negotiation
 Time management
 Risk management
 Subject matter expertise
 Team management
 Tool mastering
Ideal project

 A customer who knows the domain being solved.

 Communications of partnership
 The right to select technology / implementation.
 Time frameworks are fair.
 Free billing of worries.
 Applications fairly.

5. Define the need and importance of WBC (Work Break Down Structure) & Risk Register.

ANS:

WBC (Work Break Down Structure)

The WBS helps project managers to organize their work more effectively. A project has time-limited
tasks and set time frames and costs are allocated to it. At the end of the project, the stakeholder needs to
be met. The management of the project shall schedule and delegate tasks for the timing, fixed costs and
functionality of the project. This preparation is supported by the WBS and efficiently implements the
project.

Risk Register

A significant component of the overall risk management system is a risk registry often referred to as a risk
log. The risk register was developed during the early stages of a project and is a way to monitor and
resolve your concerns as they occur. The purpose of a project management risk registry is to document
information for all risks, their analyses and plans for the treatment of those risks.

In essence, a log describes risks as well as their seriousness and the precautions and steps required for
mitigating the risk. Project managers interpret the database of the risk registry as a method for controlling
the project risk management processes. The project manager is responsible for ensuring that the risk
register is updated as appropriate. It is normally assigned to the project management role to update the
risk register.

Question # 4

Explain the common planning mistake and how we can mitigate it using Plan Checklist.

ANS:

The project planning one is one of the most sensitive stages from this point of view, as mistakes in this
stage are indeed the most severe and may adversely affect the completion of the entire project.

The problem is that you always discover something incorrect when it's too late and nothing else to
minimize the harm can be done.

Commons management errors are:

 Forgetting the Real World

 Believing Your Plan
  Planning Fallacy
 History Neglect
 Narrow Focus
 Competition Neglect

Forgetting the Real World:

Events are the enemy in our world of project. Randomness and unexpectedness aim relentlessly to trigger
your plans and disrupt your expectations. Sky Masterson sang 'Hope be a lady tonight.' However, you
need your luck to last for weeks, months or years as project manager.

Believing Your Plan

My second error exacerbates the influence of events. We prefer to know the facts about the quotation
from von Moltke and then forget what it says instantly. Therefore we put so much effort into preparing
and implementing our projects that we begin believing our plan.

Planning Fallacy

Maybe it's unavoidable. When we forget Hofstadter 's theorem, the main source of the project planning
errors is. As a consequence, the time, expense or money you require is underestimated. This is typically
the product of over-optimism about what you should do. So it is also known as 'optimism partiality.'
However, political tensions have frequently contributed to that. These may be from inside the
organization (for domestic projects) or from industry (when you work for a customer).

History Neglect

I hope that, at the conclusion of your ventures, you will be attentive and still have the lessons learned.
You have to be if you aren't. As a mature project manager, it is one of the most useful aspects of your
development. This, therefore, is my personal favorite of all our project preparation failures.

However, how much are you looking for such project reviews? And are you referring to their senior staff
members to see what they have learned? Find out, before you start planning the next one, what happened
in a previous project? And how many, when you get warnings from other project experts, do you listen?

Narrow Focus

Projects should be absorbing both of them. Too many, however, PMs are absorbed in their projects such
that their projects become their whole universe. You may quickly dwell too heavily on the facets of the
project that you see as your mission. It's just the effort as a project manager. Yeah, you've got those
unique duties. But if you too concentrate on them, you can ignore the important external variables,
stakeholders, or even what other team members do ... or don't.

Competition Neglect

The Narrow Emphasis is connected, but far more precise. This cause of project planning failures happens
when you ignore the actions of someone or organization’s that interfere with you and your project in any
way.
Risk Mitigation Plan Checklist
1 Help for communicating / governing
2 Identify team members (leaders, experts in the subject, technical authors)
3 Risk identification / update (performance, update or risk evaluation review)
4 Evaluation / prioritization of risk
5 Find options for mitigation
6 Developing a mitigation plan (use checklists when required; keep basic in appendices or at the
end of plan for non-active items)
7 Implement the Strategy (subject to approval and provide training to the strategy planners and
individual contributors) Implement the plan
8 Monitoring the Plan (Action things on the path? Has the world changed?)
9 Test the Strategy (test the mitigation solutions or measures, if necessary, to make sure that they
work)
10 Project for Review / Update (stages 3-8 repeats)
11 Help for communicating / governing

Question # 3

How do you know which stakeholder needs more attention? Also define Project Life Cycle.

ANS:

It is important to look about the obvious when defining stakeholders. Beneficiaries,

policymakers, etc. should be readily recognised, although it can also be difficult to see
downstream consequences – and thus secondary stakeholders. For example, pressing for new
legislation in a specific industry may lead to a substantial rise in paperwork and/or the
procurement of new equipment by suppliers in the field. Traffic management constraints in
suburban neighbourhoods can impact the usage of public transport by commuters. Try dreaming
in as many different avenues as you can to help others who don't immediately obey your efforts.
Provided that it is important to classify stakeholders in a variety of ways. More than one use also
yields the best results.

 Brainstorming. Get active or aware of the efforts by staff of the company, officials and
others and start naming. Part of the brainstorming point is to come up with something,
even though it sounds stupid. When you think about it, the dumb ideas will prove to be
among the best, as far as you will. Stop and address each idea after 10 to 15 minutes and
maybe recognise each as a lead, secondary and/or main player.
 Collecting the group and names of informants within the society, in specific members or
geographically-inquiring people (if they are not eligible for the brainstorming session).
 Consult with groups interested with or participating with related efforts, or collaborating
with the public or in the field of concern.
 Get more ideas as you identify them from stakeholders.
The priority of stakeholders can differ, as we have discussed many times. The only way of
helping some of the stakeholders is to pursue the initiative, and others to discourage or weaken it.
There can be competing concerns even among stakeholders from the same community. Some of
the various ways stakeholder preferences can be expressed:

 Potential recipients can embrace initiative wildly, see it as a hope or a path to a decent
life, or they can be ambivalent or gross. They can feel ashamed or burdensome by the
initiative or action (for example in adult literacy). You do not understand this, or you may
not see the value. You may be terrified to try something Economic problems may emerge
from some players. Simply egoistic or gourmet – like a trillion-dollar annual benefit
organisation that does not want to invest a small portion of the money to prevent the
emissions of the factories – are often only real. However, in other situations.
 An initiative may also be supported by economic considerations. An effort to build one or
more community hospitals will provide building jobs, medical supply orders, jobs and
economic opportunities for medical practitioners and para-professionals. It may then be
sponsored, primarily for economic purposes, by labour unions, machinery suppliers,
technical organisations and local government.
 Organizations and institutions should make an attempt to provide funds for their
initiatives. Their willingness to be financed for effort-related operations can mean the
difference between laying and retaining of workers or even between longevity and
closure of doors. different; if you think they're going to struggle or end up getting worse.
These individuals or groups can be distrustful of such an undertaking and assume that
they are being stared at.
Project Life Cycle

A life cycle of a project is the series of phases which a project undergoes from start to finish.
Management and numerous other considerations including the interests of the organisations
participating in the process, the design of the process and the extent of implementation
decide the number and sequence of the period. The phases have a certain point of departure,
finish, and control and are time limited. The project life cycle can be specified and updated
according to organisational specifications and aspects. While any project has a defined
beginning and end, its precise aims, milestones and activities differ greatly. The life cycle
establishes the underlying framework for the projects, regardless of the actual work involved.
The project will be carried out.
Characteristics of the Project Life Cycle

While ventures are special and highly volatile, their standard architecture consists of same
generic lifecycle structure, consisting of following phases:

 The Initiation Phase: Launching of the project

 Project Phase: Coordination and planning
 Step of execution: project implementation
 The End Phase: Project Closure
Question#5
Question#6

Question # 2

Suppose the project has gone off the rails. What steps would you take to get it back on track?

ANS:
No matter how cautious a project is prepared, tragedy will always strike if you do not expect it.
And when this occurs, for project managers it is crucial to know how to minimise the harm and
to keep the team running. Once a project does not go according to the time, scale or targets you
are scheduled to meet, the next priority is to get things back on track. In order to overcome the
inconsistentiveness between real success and planed growth, the Project Leader must be
successful sufficiently.
The symptoms are often obvious: milestones are skipped, your channels of contact do not keep
everyone on one hand and members of the team are disorganised over the scale of their
individual roles.
There are the steps that we should take to help the project:
Define Your Project Scope

SMART should be used to ensure a well-defined mission. This is mostly used while it is set, but
it has a lot of project management experience.
  General.
 Measurable.
 Assignable
 Real.
 Time-limited.
Acknowledge that things aren't going so great:

It might sound agonizingly straightforward; however, acknowledging that there is an issue with the
current course of the project is the step in moving things back in the right direction. If you go to fester, it
could trigger significant disruption of the project. Be alert of potential signs of tragedy.

Audit your team's communication channels:

If the initiative is not intentional, it is extremely likely that a substantial share of the burden will be
attributed to bad communications. To succeed, you need the connectivity substructure that helps team
members to remain on the same page and in different parts of the project, to succeed in your project. It's
very easy.

Address stakeholder concerns:

It is your duty to keep the client (and all partners involved) in the loop if the project begins in the wrong
direction. There is a key here to honesty and morality. If you want to cover the challenges of the project,
it's just not as successful.

Learn from it:

It's important to know exactly what went wrong so that you can do what you can to stop it happening
again in the future. You can speak with your colleagues after the job is finished. Send a clear
questionnaire before the conference to encourage team members to replicate and express thoughts and
concerns which they may not feel comfortable in the community as a whole. For people this is a perfect
opportunity.

Question # 1

What is the most desired expertise that is needed to become a successful project manager supervisor, as
per your experience/readings/knowledge? Give any example regarding your past projects based on your
experience/readings/knowledge.

ANS:

Many qualifications are required separately from professional expertise for a project manager. It is
predicted that the following experience will thrive in a project manager

1. Management
The most critical aspect of project management is project leadership. It is a pattern that shows no
indication of reduction that you must be able to lead your team and handle in a group It is truly important
to inspire others, to set the goal and successfully direct them.

2. Speaking.

It would be cool if everybody is actually doing what is best for the public good, but ventures in real life
don't work like this. Project managers with a good dealing capacity would be an advantage for teams
there.

3. Timetable

It was clear that the planning of proposals is a crucial competence in project management. However I
learned that I am not up to date with people who oversee project managers in the final review phase.

4.Cost Search

One of the key skills of a project is cost management. Without the capacity, budgets are limited and it
would be disadvantageous. You must illustrate that the project can perform under expense limits and
logically control project financing.

5. Regulation of threats

Project managers to mitigate risk (to the degree that you can) is an indicator that you are at the top of your
tasks. One way that you can achieve that project is to guarantee hate surprises and effective risk
management.

6. Management of contracts

Providers are operated in part by the project. The vast majority of programmes are supplied. Contract
administration is a concern that should handle these results actively.

7. Thinking Critical

Rational thoughts are important for making sound decisions. By training and training yourself with
instruments and methods, you can develop your critical thinking skills and help structure influences
critically and see problems from all perspectives, before making the final decision.

EXAMPLE:

Based on my experience, we carried out a university project for the Active Citizenship Scheme, in which
we carried out activities to give the poor family a company and I was the project manager, which I had to
tackle and deal with all the risks involved with this project.

o Honesty
o Communication
o Mercy / Empathy
o Delegation
o Skills:
o Passion / Enthusiasm
o Formation of Teams
o Composition.
o Solving of dilemma
o Supervision of Mission