PROGRAM - MBA
SUBJECT CODE & NAME PM 0010 – INTRODUCTION TO PROJECT MANAGEMENT
1. What are phases of project
lifecycle? List the advantages of project management.
FIVE phases of project lifecycle
Initiation: This is the first phase of project lifecycle.
In this stage, a project charter, which
is also called
the project statement,
is defined. This statement provides the project idea,
outlines the project objectives, identifies the project manager and stakeholders, and defines the role and
authority of the project manager. The
project charter will be discussed later in this unit in detail.
Planning: The
planning phase involves
designing the course
of actions according to the scope
of the project. In this phase, various aspects of the project, such as cost,
time, quality, risks, communication,
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2. Write short notes on:
(I) Project development
(II) Project organisation
(III) Factors affecting
collection of market-related information
(IV) Term loans as a means of financing projects
(I)
Project development
In this
phase of project management lifecycle, the progress of the project is
monitored and controlled.
This phase also
provides a measure
to ensure that the project
deliverables meet the expectations of
customers or clients. This phase is considered complete
after the testing
and approval of the
project. The main purpose of this phase is to verify whether the project is
adhering to the plan and if there are any deviations, to determine the extent
of deviation.
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(II)
Project organisation
Project organisation is one of the most crucial parts of project
planning. It is a structure that
is designed for
the successful execution
of a project.
It provides a complete framework for a project and ensures that the
project is arranged in a manageable
structure. In project organisation, the complexity of a project is structured
and the sequence of project activities is defined. The first step of project
organisation is project design in which the course of the project,
the flow of
project activities
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(III)
Factors affecting collection of market-related information
An organisation
can identify the
current market trends
and tastes and preferences of
customers by collecting
market-related information. There are
various factors that affect
the collection of
market-related information, which are as
follows:
Cultural diversity: The most
crucial factor is
cultural sensitivity and diversity. The tastes and preferences of
customers vary according to their cultures. A classic example of what a western
retail organisation faced when they opened shop in Japan. They were surprised
to find that their packed
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(IV)
Term loans as a means of financing projects
These are
secured long term
loans provided by
financial institutions and commercial banks to organisations or
individuals to start a new project
or expand and
redesign existing projects.
Two types of
term loans are provided
in India, ‘rupee
term loan’ and
‘foreign currency term loan’.
You can use
‘rupee term loans’
for acquiring land,
building capital assets, buying
plant and
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3. Explain the concept of Social
Cost Benefit Analysis (SBCA)? List the application of SBCA and describe the
challenges in SBCA.
Importance of SBCA
The main
objective of an organisation is to earn maximum returns from a project.
However, some projects
are not attractive
in terms of
monetary gains; rather, they are initiated for a social cause. For
example, road and dam construction projects may not generate high returns, but
have a social impact. In
CBA, the total
cost and expected
returns of a
project are estimated in monetary
terms.
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4. Discuss the financing of a
power project.
Financing a Power Project
Power projects are
critical for the economic growth and development of any country. Power
projects include hydro-power
projects, thermal power projects, nuclear power projects, etc.
As any
other infrastructure project,
power projects also
have state government, EPC
contractor, project sponsors,
suppliers and O&M contractors as key parties. In a power project, PPA is signed by the SPV and the SEB, whereby
the produced power is purchased by the SEB. The financial condition
and performance level
of SEBs are
not satisfactory in India.
Subsidised rate of
electricity causes
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5. Explain the types of
procurement contracts.
The types
of procurement contracts are as follows:
·
Fixed-Price
contracts
·
Cost Reimbursable Contracts
·
Unit Price Contracts
Fixed-Price contracts: The
fixed price contract,
which is also
called the lump-sum contract, is
an agreement to provide a well-defined
product to the buyer at a fixed total price. This type of contract may involve
incentives from the buyers to the sellers for exceeding project objectives by the seller, such
as
delivering end-products to the buyer before the deadline. For example, a contract between a buyer and a
seller says that `10,000 is
payable to the seller if the
seller completes his/her
part of the
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6. What is the purpose of project
evaluation? Which the four dimensions of the project explain the purpose of
project evaluation?
Purpose of project evaluation – measuring project success
The purpose of project
evaluation is to measure the “success” of a project. Accordingly, projects are
evaluated on the basis of the indicators of success or failure such as
profitability, competency, efficiency
and future prospect. The success of a project has been defined by different
researchers through some models. One of such models was proposed by Shenhar et
al. in 1997.
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PROGRAM - MBA
SUBJECT CODE & NAME PM0011 – PROJECT PLANNING AND SCHEDULING
1. Write short note on:
(I) Project deliverables
(II) Project Rating Index(PRI)
(III) Scope change control
(IV) Partnering
(I)
Project deliverables
Project
deliverable is a term used to describe an object, which is produced as an
outcome of the
project and that
is intended to
be delivered to the
customers or shareholders.
A project deliverable
could be a report/plan/document/server upgrade/product, or
service. It could
be any
object(s) of value
generated by the
overall project. For
example, in a software development
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(II)
Project Rating Index(PRI)
Proper
screening of project ideas plays an important role in ensuring the selection
of the right
project idea by
an organisation. Once
an organisation completes the initial screening of project ideas, it
should then focus on evaluating the
desirability of the shortlisted project ideas. For this purpose, an organisation can take
help of the PRI. The process of the
PRI comprises the following steps:
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(III)
Scope change control
Indicates the final stage of the scope management, in which,
an organisation tries
to restrict any
unapproved changes in the
scope of the project. In other
words, at this stage, an
organisation tries to ensure that
only those changes, which are approved by the client, are made in the project.
Any
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(IV)
Partnering
With the
ever-increasing level of
competition in the
market, organisations
increasingly take help
of outsourcing to
meet their desired
objectives. Nowadays, major organisations
enter into partnerships
with other organisations and/or
parties to receive tangible products/services (such as
raw materials,
semi-finished products,
etc.) as
well as intangible
products (such as knowledge,
expertise, skills, etc.).
Apart from assisting organisations in performing various
activities, partnering
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2. Budget Estimation of ABC
Company Ltd.
ABC Company Ltd.,
established in 1985,
is engaged in
the manufacturing of
leather accessories. Over the
years, the company, which started out as a
local firm,has made its mark as an international
corporation. However, the
company is still
working as a traditional set up.
The high quality and durability of products have increased the demand
of the products in the market. As the production
of the organisation
is being increased
to meet the demand, the traditional set up is
creating hurdles in the production process.
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3. What is the importance of
operational feasibility? Explain the factors that affect operational
feasibility.
Importance of operational feasibility
The importance
of operational feasibility
is highlighted in the following points.
·
Helps in assessing
the capability of the project
in fulfilling the desired organisational
goal
·
Helps in analysing
and tackling any resistance from management, team, and individuals
·
Helps in
evaluating the probable impact
of the project
on the Environment
·
Assists in proper
implementation of the project
·
Helps in periodical
review of the implemented project
·
Assists in
analysing the impact of the project on the end-users
·
Ensures proper
utilisation of scarce resources of the economy
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4. Write short notes on
(I) Monte Carlo analysis
(II) Work break down
structure
(III) Resource loading
(IV) Definitive estimate (a
method to estimate cost of a project)
(I)
Monte Carlo analysis
Monte Carlo
simulation is a
problem-solving technique that
is used to represent the probability of certain
outcomes by running a number of trial runs (called simulations) and using
random variables. This technique was introduced by John von Neumann, Stanislaw
Ulam, and Nicholas Metropolis while they were working on the atomic bomb in the 1940s. These scientists
named this technique
after the city
in Monaco, which
is famous for
its casinos and games of chance.
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(II)
Work break down structure
WBS is one of the most crucial components of the project planning
process. It provides a framework to organise and manage project activities. A
project with a large
number of activities
may result in
inaccurate planning, estimation,
and scheduling of resources. WBS is
a hierarchical, graphical tool that helps in breaking large,
complex projects into smaller tasks, which, in
turn, helps in
the efficient
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(III)
Resource loading
Resource loading, also
known as resource
aggregation, involves determining
the resources required from time-to-time to complete a project. In other words,
resource loading is all about identifying and quantifying the requirement of
different resources at
different point of
time. Resource loading
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(IV)
Definitive estimate (a method to estimate cost of a project)
Definite estimate
is also termed
as bottom-up estimate. The
accuracy of this estimate is much more as compared to the accuracy of the above
two estimates. However, the time required to prepare such type
of estimate is
relatively more. In
order to prepare
a definite estimate, the
project manager must
take the help
of work breakdown structure (WBS). A project manager
requires a WBS for
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5. What do you understand by cost
of quality? Elaborate on various types of costs of quality associated with a
project.
Meaning of cost of quality
Cost of quality
indicates the sum of conformance cost and non-conformance cost. Conformance
means delivering products
that meet the
quality requirement of the
customer; whereas, non-conformance indicate
the products that are rejected for
not complying with the
quality norms of the customer.
In other
words, cost of quality can be referred to as the sum total of all costs
incurred in ensuring conformance of the product to the quality requirements,
assessing the product, and
doing any re-
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6. Explain some of ISO standards
that should be considered by the project manager during project execution. List
the advantages of project management software.
FOUR ISO standards that should be considered by the project manager
during project execution
There are
various ISO standards
that should be
considered by a
project manager during the execution of a project. Some such ISO standards are
mentioned below:
ISO 9000
(Quality Management): The
ISO 9000 certification
was introduced by International Organisation for Standards which aim to
bring in consistency in the
quality standards of
different countries. The
ISO 9000 Standards focus on
management and leadership, especially with regards to
quality management
and processes. This
ISO 9000 series
helps organisation to meet and exceed
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PROGRAM MBA
SUBJECT CODE & NAME PM
0012 – PROJECT FINANCE AND
BUDGETING
1. Write short notes on:
(i) Key project resources
(ii) Three main requirements of funding a project
through project finance
(iii) Medium term financing for projects
(iv) Bottom up estimation for creating project
budget
(i) Key project resources
Manpower: It
refers to a set of
individuals (employees) having
specified skills, knowledge, and
expertise to carry
out different project
activities. Manpower is one of the most precious assets of any
organisation without which not a single project can be carried out.
Materials: These
are inputs employed to meet the
objectives of a project. Raw materials are
vital for any
project. Not only
manufacturing and construction
projects highly depend on materials but also office or service projects rely on
materials, such as staples,
paper, cleaning materials
and other
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(ii) Three main requirements of funding a project
through project finance
The three
main requirements of
funding a project
through project finance are:
Technical feasibility: Project sponsors need to assure the lenders
that the technological processes that will be used in the project are feasible
for the commercial application of
project. The lenders
of the fund
should be ensured that
the project will
be able to
generate the desired
output after using the selected
technological processes
Economic
viability: The efficiency of a project to operate
successfully and generate the desired cash flows is of utmost importance for
the lenders. The lenders should be completely satisfied that the
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(iii) Medium term financing for projects
Medium-term finance
is required by
organisations for projects
having a lifespan of more than
one year but less than 10 years. An
organisation can avail medium-term
finance through various sources, such
as lease finance and hire
purchase, venture capital
finance, public deposits
and retained earnings as
shown in below figure . The
organisation needs medium-term sources of finance for
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(iv) Bottom up estimation for creating project
budget
The bottom-up
approach is also
known as definitive
estimate or micro estimates. It
is an approach
used for estimating
the cost, time,
and risk involved in a project,
which help in preparing a more realistic budget. Though, it
is time consuming, it
is the most
accurate estimation approach. It
would help to introduce
the term WBS
(Work Breakdown Structure),
which is defined as a deliverable
oriented hierarchical breakdown of the entire project scope. Various standard
analytical
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2.
What is off take contract? Explain the various types of off take contracts.
Off take contract
In an off take contract, there is an agreement between the project
company and the buyer. It is negotiated much before the construction of the
facility in order to make
the market secure
for the future
output of the
facility. This contract provides
the project company
stable and sufficient
revenue which helps in
paying its project
debt obligation, covering
the operating costs
and providing certain required return to the sponsors. This contract is
used mostly in natural resource sector.
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3.
Explain the different key project documents.
Ans-Key
Project Documents
According to John Rakos
"The success of any project is crucially dependent on the documents
produced for it."
It is very essential for
any project manager to keep proper documentation for the project for effective
management. These documents help to know the various aspects of the project
whenever needed during the life of the project. These documents are as follows:
Business
case: It is a kind of agreement or contract or a decision
analysis report which signifies that the project has been approved for commencement.
It is managed between two parties for offering of
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4.
Write short notes on:
(I) Project
parties in a construction project
(II) Types of
working capital
(III) Project cash
flows
(VI) Payback
period method used to evaluate an investment on a project
(I)
Project parties in a construction project
Project parties
refer to individuals
or entities that
are directly or
indirectly involved in a
project. Turner (1931),
author of “The
handbook of ProjectBased
Management”, identified and
underlined certain characteristics of people or organisations that can act as
project parties. These characteristics are as follows:
·
“the parent organisations
(the owner of the facility),”
·
“the users, who will operate the facilities”
·
“the supporters, who will supply the resources
to operate the facility”
·
“the stakeholders, who are affected by the
project”
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(II) Types of
working capital
Working capital
is of various
types depending on
time:
Temporary working capital: It
refers to the working capital that is required to produce extra units of
products in case of excess demand. However,
the demand for the
product may not always
be high in the
market. However, when it increases,
extra working capital is raised from short-term sources. The temporary
working capital is also known as fluctuating working capital.
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(III) Project cash
flows
An
organisation needs to use cash for purchasing different resources, such as labour,
material, and equipment,
for the successful
completion of a project. When the project gets completed, cash
is received out of revenues generated
from projects. This movement of cash in
and out of a project is
called
project cash flows.
Project cash flows
help in determining
the profitability of
a project. If the
cash flows generated from project are
more than the cash flows invested in the project, then the project
is profitable, and
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(IV) Payback period
method used to evaluate an investment on a project
Payback period is a
traditional method of evaluating investment in a project. The payback period is
the duration of time taken to recover the initial cost of a project.
The payback period
method is an
easy and quantitative
in approach and does
not take the
TVM factor into
account. The basic principle of the payback period method
is that if the initial cost of a project is recouped in
a shorter period
of time, the
project is said
to be profitable.
Different projects
can be ranked
according to the
length of the
payback period. The projects with shorter payback period are ranked
higher than the projects with longer payback period. Generally,
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5.
What are the problems associated with BOOT projects.
Ans-Problems in BOOT
Projects
Although BOOT model is
beneficial for certain projects, there are many risks and problems associated
with it and may act as a constraint in the implementation of these projects.
The main problems associated with BOOT projects are as follows:
• There are problems with BOOT
projects in reaching the construction stage. There may be many reasons for
this. One of those reasons may be unavailability of experienced developers. If
the developer is not experienced enough, then the project may face many
problems in its completion. The other
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6.
Explain the different types of management contracts (a type of PPP )
Ans- The different types
of management contracts are discussed as follows:
Supply
or service contract: It is a type of management
contract, which involves supply of raw materials, equipment, labour, etc. by a
private concessionaire to a public entity. The appointment of private agencies
by the concerned authorities for maintaining cleanliness in the railway station
is an example of such type of contract. In a supply or service contract, the private
concessionaire has the freedom to enter into supply and/or service contracts
with other entities for supplying the desired equipment,
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PROGRAM - MBA
SUBJECT CODE & NAME PM 0013 – MANAGING HUMAN RESOURCES IN
PROJECTS
1 Write short notes on:
(i) Characteristics of a
project
(ii) Objectives of human
resource management
(iii) Project team members
(iv) Need for a project team
(i)
Characteristics of a project
These
characteristics are:
Specific objective: Every project
has a goal
that it aims
to accomplish. Different projects
have different objectives. For example, the prime objective of a sales
project may be to maximise the sales;
whereas, for a production project, the objective may be to improve the quality
of production.
Connected
activities: In a project,
many activities are linked to
each other and need to
be performed in
a logical sequence.
For example, the scheduling activities start after the
planning of a project.
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(ii)
Objectives of human resource management
Societal objectives: It refers
to the social
responsibilities that are performed
by an organisation
through its employee
resources. The organisations aim
to become socially
responsible to the
needs and challenges of the society.
For example, by
providing Equal Employment Opportunity (EEO), an organisation
minimises the discrimination related to employee hiring
in an organisation.
In
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iii)
Project team members
A project requires multiple activities to be performed.
It cannot be handled by
one person. Therefore,
besides the project
sponsor and the
project manager, a team is required to complete a project. The term team indicates a group
of two or
more people who
perform together so
that the project objectives can
be accomplished in
time. A project
team comprises of various
members that perform
under the direction
of a project
manager, team leader or any
senior member of the
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(iv) Need
for a project team
A project
requires execution of
several activities to
achieve the desired result. These activities cannot be
performed by an individual and therefore a team of people
who are skilled
in performing diverse tasks
related to the project are
required. Building a
project team is
necessary as performing tasks collectively
may increase the
overall efficiency. In
addition, it also strengthens
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2. Explain the various conflict
resolution techniques
Answer:
Following are the
various conflict resolution techniques:
Problem solving: It
refers to the approach of resolving the problem through face-to-face discussion
between individuals or groups who are involved in conflict.
Super-Ordinate goals:
It refers to
sharing of goals
by conflicting parties and building mutual trust to overcome
their individual differences.
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3. Write short notes on
(i) Skills required by a
project manager
(ii) Delphi technique of
estimating manpower requirements of projects
iii) Importance of leadership
in project management
iv) Goal setting theory
(i) Skills
required by a project manager
Some of the
key skills and qualities of a project manager are as follows:
Shared vision:
An effective project manager should have a common and clear vision to obtain the project
objectives within a stipulated time period.
Integrity: Integrity refers to the characteristic of honesty, reliability, morality and
uprightness. It is
established when people
act for the
right reason, regardless of results. Project managers, with the
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(ii)
Delphi technique of estimating manpower requirements of projects
Delphi technique: It
is a technique
in which a
series of questions
is individually asked to a jury of experts about their perceptions of
future events. In this technique, direct interaction among the members of the
group during decision-making is avoided; as it could result in reaching an
unfair consensus due to dominant personality factors. Alternatively, the estimation
and associated
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iii) Importance of leadership
in project management
A project comprises
of various tasks
and activities that
need to be performed by different people using
different resources at different times in the project lifecycle. For successful
execution of these tasks, it is important to
have a leader
who is able
to strategies, plan
and lead the
collective efforts of the
team members for
achieving the project
goals. A leader
is committed towards the
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iv)
Goal setting theory
Edwin
Locke, an American psychologist and a pioneer in goal-setting theory
explains that specific and
difficult goals lead
to higher performance
than easy goals. It also suggests
that feedback and commitment lead to higher performance and
bridges the gap
between the actual
and expected performance of
individuals. It also
suggests that for
self-improvement, an individual
should have
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4. Explain the modern methods of
performance management?
Modern methods
are amongst the
most widely used
performance measurement
techniques. These include
the methods as
shown below:
a) Human
Resource Accounting
b) Assessment
centers
c) Behavioural
anchored rating scales
d) Management
by Objectives
e) 360
degree appraisal
f) Balanced
Scorecard (BSC)
Human resource
accounting: This method
aims to assess
the effectiveness of Human Resource Management (HRM) activities and
tries to value manpower as assets and not as expenses. In terms of productivity,
this method measures
the cost incurred
on employees in
the form of recruitment,
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5. Explain various types of
collective bargaining.
Below are the types of collective
bargaining:
Distributive bargaining: It is
a type of bargaining where both the
parties stress on supporting their own benefits. Distributive bargaining
involves less flexibility and understanding
between the parties
because it prioritises
the interest of one party over other and leaves no scope for win-win
situation. For example, the employee union of an organisation wants the
organisation to raise their
salary. On the other
hand, the organisation wants
to cut its total
expenditure budget; therefore,
it resists
CONTACT
US FOR READY MADE SOLVED ASSIGNMENTS
CONTACT
NUMBER : +91 - 8285115522
6. Discuss the concept of issue
logs.
Issue Logs
During
the execution of a project, a project
manager faces several issues that
may impact the
project significantly. An
issue is a
problem, gap, inconsistency or
conflict that may
arise unexpectedly during
a project. These issues
may be related
to team members,
suppliers, distributers,
technical failures, resource
handling, material shortages,
etc. It is
very important for a project
manager to resolve these
issues effectively before they
grow enormously. Unsettled issues may
lead to
CONTACT
US FOR READY MADE SOLVED ASSIGNMENTS
CONTACT
NUMBER : +91 - 8285115522
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