* Decision Making Models In Project

Management:
Introduction:
Project Management has emerged as a discipline of high-level decision
making with the help of analogue and digital tools which would help
augment the intuition of a Project Manager and his team for taking
decisions in favors of the future of the project.

These decision-making tools are general, they are based on common

sense and are used in all the trades for backing up the decisions taken by
the decision-making authorities.

Time, cost and scope are the triple constraints of any project. Any
variation in the stipulated value of these three constraints is bound to
affect the project’s outcome. So, what a project manager should do in
order to keep these three constraints in check? Should he be doing work
around after the risks have happened or should he be planning for the
risks through these decision-making models?

Through decision making models we do not essentially plan for the risks,
but we perform a reality check with what should be the step which shall
be taken in response to a particular situation. This situation may account
for positive or negative risks and for the risks we can deduce a risk
response plan accordingly.

History
The Tata Nano is a compact city car that was manufactured and marketed by Indian Automaker
Tata motors  over a single generation, primarily in India, as an inexpensive rear-engine hatchback
intended to appeal to current riders of motorcycles and scooters — with a launch price of one
lakh rupees or US$2500 in 10 January 2008
Tata Motors projected production figures of 250,000 annually at launch. This was not achieved, and
various factors led to decline in sales volume, including delays during the factory relocation from
Singur to Sanad early instances of the Nano catching fire or the perception of the car being unsafe
and lacking quality due to cost cutting. Actual sales reached 7,591 for model year 2016-2017. The
project lost money, as confirmed by former Tata Sons chairman Cyrus Mistry and by 2017 Tata
Motors management.
In 2017, Tata Motors said manufacturing would continue due to the company's emotional
commitment to the project. Production was eventually halted in May 2018.

The Decision-Making Process:

The whole purpose of indulging in the decision-making process is to
make a rational decision. Rational decision making means a tendency
that is suitable to the already existing goals within the given conditions
and constraints. Project

Management thrives on the rationality of decisions and here is where it is

important for the Project manager to have a process which enables him
and his team decide rationally about different aspects of the project.

Let us take a look at what really helps to make decisions

Facts:
If you want to make a decision, the basic requirement for the same is
gathering relevant information. Appropriate use of this information will
be helpful in deciding about ways to reach to the goal or an objective.

Values:
Decisions are primarily based on situations. An action to a particular
situation is determined by values.

Means:
It is the way you reach your objective based on already devised values
and significances
Ends:
These are the intermediate goals which add up to a final objective. Here,
you can see that decision making is an iterative process.

In simple words, there are four steps in the process of decision-making

pertaining to the above points

 Identify the problem, gather relevant information

 Look out for the constraints and limitations
 Find, analyses all the alternatives and select the best of them
 Implement the same and establish a control and valuation system.

Here are some of the most commonly used decision making models in
Project Management.
 A General Decision-Making Model:

1) Identifying a problem or opportunity:

The first step is to recognize a problem or to see opportunities that may be worthwhile. A rational
decision-making model is best employed where relatively complex decisions have to be made. (So,
the first decision making lesson should be to ask yourself if you really have a problem to solve or a
decision to make. Then read this article for more specific advice: Problem Solving Skill: Finding the
Right Problem to Solve).

2) Gathering information:
What is relevant and what is not relevant to the decision? What do you need to know before you
can make a decision, or that will help you make the right one?

3) Analyzing the situation:

What alternative courses of action may be available to you? What different interpretations of the data
may be possible? Our Problem-Solving Activity uses a set of structured questions to encourage both
broad and deep analysis of your situation or problem.

4) Developing options:
Generate several possible options. Be creative and positive. Read The Power of Positive Thinking
for our five questions that create possibilities.

5) Evaluating alternatives:
What criteria should you use to evaluate? Evaluate for feasibility, acceptability and desirability.
Which alternative will best achieve your objectives?

6) Selecting a preferred:
alternative Explore the provisional preferred alternative for future possible adverse consequences.
What problems might it create? What are the risks of making this decision?

7)Acting on the decision:

Put a plan in place to implement the decision. Have you allocated resources to implement? Is the
decision accepted and supported by colleagues? Are they committed to making the decision work?

Tata Nano

This section describes in detail the challenges that Tata Motors's supply chain has faced; as well
as some of the successes that it achieved due to the implementation of innovative strategies.
Challenges are described in relevance to the auto industry as a whole as this is a recurring theme
for the entire industry. The successful strategies seen in the Tata Nano's supply chain framework
could be viewed as attempts to overcome some of these challenges. More importantly these
strategies are discussed to emphasize on how these helped Tata Motors to develop the cheapest
car in the world at a time when other manufacturers are facing issues of cost reduction. The
challenges and strategies are also compared with trends observed from the U.S. market based on
data obtained from GM. The next subsection identifies the challenges.

Reference:
https://dspace.mit.edu › handle › 310124083-MIT