Consider this statement: \"Project management is more important in business toda
ID: 376057 • Letter: C
Question
Consider this statement: "Project management is more important in business today than it was 30 years ago." Provide several reasons why this is true (more than five reasons). Add some of your own ideas that are not in the textbook. Explain each of your reasons with a short paragraph. (6 points) 1. Give a specific example describing how you would use each of the following influence currencies in a job you have now or expect to have in the future: (5 points) 2. a. Task-related currency b. Position-related currency c. Inspiration-related currency d. Relationship-related currency e. Personal-related currency What types of problems might arise during a project if the scope statement is incorrect and poorly done? (5 points) 3. What are the differences in scheduling methods when managing a time-constrained project versus a resource-constrained project? (4 points) 4. S. What does the acronym BATNA refer to, and why is it important to being a successful negotiator? (5 points) 6. How does earned value give a clearer picture of project schedule and cost status than a simple plan versus actual system? (5 points)Explanation / Answer
Answer 1:
Project management is important business as compared to 30 years ago becuase the modern project management faces following challenges.
1. Project Human Resource Management
Managing people is the most challenging part in every aspect of business. Some people are highly competent, easy to work with, self-aware and self-managing…and some are irrational, shy and more emotional. Different personalities often lead to conflicts and misunderstandings.
2. Cultural Barrier:
Many organisations has set up their offices in different countries. People from different countries are put in situation to work on one assignment together. People coming from different cultures ahas different perspectives to look at the work, situaitons and that creates confltct many a times. Therefore to resolve this cultural barrier there is a need of project managment.
3. Stakeholders
Today's project are getting more complex and creating legal liabilities. Organisations working on complex projects may have to handle many stakeholders at a time. Failure in keeping stakeholders happy may lead to failure of the project and therefore there is a need of project management.
4. Pressure of time, cost,scope, and quality.
Today's projects are having major constriants such as cost/budget, schedule, quality, and scope. either of these four diamensions of projects dusturbs then it ultimately affects the other three diamensions which may lead to failure of the project.
5. Virtual working atmosphere
In today's fast growing era, organizations started virtual team workign atmosphere where people from different countries, culture, and langauges participate. Working in virtual atmosphere leads to developing preceptions, assumptions of personalities and leadership style which is detrimental to working together concept. Therfore to resove this project manamgent is needed.
6. Client expectations are increasing
To respond to the clients needs and expections organisations need to proactively develop strategies. Therefeore there is a need of project management.
Answer 2:
Task-related currency:
In a matrix organisations where functional managers have good amount of resource availability, then such functional managers can lend the resources to other discipline or functional manager and aid implementing the project.
Position-related currency:
Organizations are always looking for resources who are highly motivated and can undertaken given tasks with positive mindset. Such work assignments attracts promotion or professional recognition to an employee.
Inspiration-related currency:
Many employee feel inspired when they get involved in the activities which are having high significance.
Relationship-related currency:
Many staff member performs effectively and efficiently when they receive the structured mentoring and coaching and moral support.
Personal-related currency.
Many organisations implements the culture of job rotation which allows employees to work on variety of activities and help them develop skills and abilities.
Answer 3:
If the scope statement of the proejct is not well defined then it clearly means that organisations will not have clarity on what works to be undertaken. If there is no clarity then organisations are not aware what outcome to be produced. With no awareness of outcome, organisations can not appropriately identify human resources, can not estimate appropriate costs or budget for project.
With no clear scope statement, organisations could not develop robust schedules. Working on project not having clear scope statement will invite risks that may damage the project in terms of schedule, cost/budget. quality, resources.
Answer 4:
In Time constrained project, project manager develop schedule and identify the critical path. Critical path is the longest duration path that will require to complete the work. Project manager develop robust schedule in time constrained project by providing the necessary float/slack at activity or project level. This gives PM and team some breathign space to undertake time constrianed project.
In Resoruce constrained project, project manager identifies the activities which has limitations of resources. Project manager add buffers to the activities for which resources are scarce or available with limitation. This buffer works as freedom or addiitonal help in case emeregency.
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