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Chapter 2 - Assignment Example

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Competitive necessity model comes into place in cases where the company or institution wants to improve its competitive ability and thus may majorly depend on the progress of other companies or institution. It enables the project to be effective in competing others though a lot…
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Chapter 2 Assignment
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Project management al affiliation Project management questions Question Technical proposal entail the parts technical approach, the implementation plan, the plan for logistical support and administration and the experience (Page 43).
Question 3
Competitive necessity model comes into place in cases where the company or institution wants to improve its competitive ability and thus may majorly depend on the progress of other companies or institution. It enables the project to be effective in competing others though a lot of capital may be utilized before the results are achieved. These are unlike operating necessity that has to deal with threats in the project or else the project will end up experiencing a great loss. Some projects may be brought in to prevent the main project from collapsing. Advantages of operating necessity model are that the main project is put on the course by preventing threats though it may reduce the money spend on funding the main project (Page47)
Question 10
Some of the desired result of applying project portfolio process is among other factors; to ensure fewer projects are selected thus easier to manage them, to help reduce competition among the projects and ensuring that the projects selected contribute to the organization’s strategy. To ensure projects benefits are more than the cost and that the projects selected have few risks and to ensure the project is monitored closely. Most firms tend to use SWOT analysis i.e. they can manage their projects basing on their strength, weaknesses, opportunities and threats. The Project portfolio process tends to bring together the goals and strategy of the organization with the project in the context (Page 65).
Question 12
The steps in project portfolio entail; establishing a project council, which should be made up of managers who will spearhead the project and help to plan on how the objectives of the projects will be achieved. The council will be responsible for the funding of the project and allocation of the resources to the various projects in the context.
Identifying project categories and criteria comprises subdividing the project i.e. those that are very good and those that are less important. Different criteria’s are used to help evaluate their relative importance. Goals of the projects purpose and missions are listed and discussed to help determine how the goals will be achieved.
The third step entails collecting project data. Data from ongoing projects are collected to help determine the progress. These data should be collected at interval and discussed.
Assessing resource availability entail; looking into both external and internal resources. Labor resources should also be evaluated and the human resource manager should be able to consider other human needs, In other words, human beings should not be allowed to work continuously over a long time. They should be accorded time to relax.
Step 5 entails reducing the project and the criteria set i.e. the number of projects, which are competing, is narrowed down to ease management of these projects. Step six entail prioritizing projects within various categories usually basing on their benefits and resource allocation. The seventh step usually entails selection of the project to be funded and held in reserve, usually the categorized project are ranked in order of the mix desired. Finally, the last step usually involves implementation of the projects, which were selected previously. Documentation of other projects that did not go through should be done to help in planning for them in the future if need be (Page 68 to 74).
Project Management, A Managerial Approach, by Meredith and Mantel, Eighth Edition, John Wiley & Sons Copyright (2012) Read More
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