Mb0044 Solved Assignment 2015 Corvette

MB0044 : Discuss the Modern trends in Project Management. Write a note on macro issues of project management.
Answer : Modern Trends in Project Management

There are a number of ways a manager can implement a project successfully. As it is important to monitor and control the project activities throughout various stages, it becomes much more important to resort to effective and powerful tools to coordinate the activities. Modern trends in project management have shown a number of ways that can be considered to achieve good results in any project. Irrespective of whichever way one wants to choose for effective outputs, the essential methods are as follows:

  • meticulous planning of all the activities
  • referring to checklist which could have been creatively designed
  • adopting quality control measures and standards

Perception

As per the current trends in project management, the perception is that the job of a manger is to obtain result. A more result-cum-profit oriented corporate strategy lays greater emphasis on maximised efficiency of operations.

Corporate strategic tools in project management

a. Continuous Business Process Improvement: Continuous business improvement is a process through which a project team passes on the details of any system as recommendation for standardisation. It acts as a business process element for the company as a whole.

b. Force Field Analysis: The analysis is done by adopting suitable methods to identify external factors which may affect the project progress. The external factors are the hurdles in a project. Use of appropriate processes minimises and eliminates the hurdles resulting in a smooth flow of activities and project progress.

c. Information Risk Management: Various methods can be adopted to reduce the risks in a project. A proper methodology is one that is based on the quality control aspect which may even be automated and integrated into the project process. The risks arising out of corruption, age, field size variation and format mismatch have to be controlled.

d. Management Assurance Measure: Management assurance measure is a task performed by the project leader to convince management against wavering. At the same time, it aims at preparing team members to counter any unexpected storms in the project. This is the greatest opportunity for a leader to mature and go up the ladder as well as an equal opportunity for the member to emerge a leader through accepting a challenge.

e. SEI-CMM & ISO Certification: SEI-CMM & ISO Certification is a well established certification system. An organisation having a certification will enable the management team to realise the importance of a process and how effectively projects could be managed smoothly. Several world organisations, are now working on P-CMM and total quality assurance.

f. Strategic Inflection Point: A real test for the project leader and the management team is to accurately predict the exact point of the development process where the team might face a massive problem. These points may be related to political, geophysical and rarely to time.

Macro issues

The macro issues of the project management are listed below:

  • Evolving Key Success Factors (KSF) upfront
  • Empowerment Title (ET)
  • Partnering Decision Making (PDM)
  • Management by Exception (MBE)
  • Knowledge (K) Factor

Evolving Key Success Factors (KSF) upfront

In order to provide complete stability to fulfilment of goals, a project manager needs to constantly evaluate the key success factors from time to time.

Empowerment Title (ET)

ET reflects the relative importance of members of the organisation at three levels – Team members, Group leaders, and Managers.

Partnering Decision Making (PDM)

PDM is a substitute to monitoring and control. A senior, with a better decision making process, will work closely with the project managers and members of the project. The whole crew will plan together to find out what best can be done to manage the future better from past experience.

Management by Exception (MBE)

“No news is good news”. If a member wants help he or she locates a source and proposes to the manager only if such help is not accessible for free. Similarly, a member should believe that a team leader’s silence is a sign of approval and should not provoke comments through excessive seeking of opinions.

Knowledge (K) Factor

Knowledge is the most powerful mover of the wheels of progress. Knowledge (K) factor is an index of the extent to which one can manage today with yesterdays knowledge content and also the extent to which today’s knowledge will be used tomorrow.

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ASSIGNMENT

DRIVE         FALL 2016

PROGRAM  MBA

SEMESTER  II

SUBJECT CODE & NAME        

MB0044 – PRODUCTION AND OPERATION MANAGEMENT

BK ID          B1627

CREDITS&MARKS         4 CREDITS, 60 MARKS

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

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Question. 1. Write Short notes on

Material control and material handling

Answer: Material control is the main component of the process of material management.

Material control refers to the management function concerned with acquisition, storage, handling and use of materials so as to minimise wastage and losses, derive maximum economy and establish responsibility for various operations through physical checks, record keeping, accounting and other devices. ”

 

Labour Productivity

Answer: Labour productivity is concerned with the amount (volume) of output that is obtained from each employee.

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Why does measuring and monitoring labour productivity matter?

 

Labour costs are usually a significant part

 

Personnel Productivity

Answer: Increasing collaboration. Networking anywhere, anytime.

 

Nobody stays at their desk, their office or even in town anymore. Workers today are mobile and business is conducted collaboratively. Whether they are in the same room or working remotely, colleagues need to

 

Strategic decision making

Answer: One of the essential parts of creating and running a small business is creating a mission or vision for the business and a set of goals the company aims to achieve. Strategic decision making, or

 

 

Question. 2. What do you mean by Operation Strategy? Explain various elements or components of Operations Strategy.

Answer: Companies and organizations making products and delivering, be it for profit or not for profit, rely on a handful of processes to get their products manufactured properly and delivered on time. Each of the process acts as an operation for the company. To the company this is essential. That is why managers find operations management more appealing. We begin this section by looking at what operations actually are. Operations strategy is to provide an overall direction that serves the framework for carrying out all the

 

Question. 3. Describe following dimensions of quality with appropriate examples.

Quality of design

Answer:Quality of design is the quality which the producer or supplier is intending to offer to the customer. When the producer is making the quality of design of the product, he should take into consideration the customer’s requirements in order to satisfy them with fitness for use of the product.If the quality of design does not reflect the

 

Conformance to design

Answer:Quality of conformance is the level of the quality of product actually produced and delivered through the production or service process of the organization as per the specifications or design. When the quality of a product entirely conforms to the specification (design), the quality of conformance is deemed excellent.

Specifications are targets and tolerances

Utilisation conditions

Answer:If market demand grows, capacity utilization will rise. If demand weakens, capacity utilization will slacken. Economists and bankers often watch capacity utilization indicators for signs of inflation pressures.

It is often believed that when utilization rises above somewhere between 82% and 85%, price inflation will increase.

After sales service

Answer:A sale is the first step to increasing your sales, not the last. Providing good after-sales service shows your customers you want to build a long-term relationship with them, earn their loyalty and keep their business.

 

 

Many successful businesses use after-sales

 

Question. 4. Discuss the importance of Plant Location. Point out various factors Influencing Plant Location.

Answer:Location planning decisions are very important for all types of business units. This is because it affects the cost, selling price, and demand of the product. It is a non-recurring heavy expenditure. Large companies take the help of different professionals like lawyers, accountants, environmentalist, etc. for selecting the proper location of plant.

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Question. 5. Explain the risk management and its various components.

Answer:Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. Risk management’s objective is to assure uncertainty does not deflect the endeavor

 

Question. 6. Why redesign of layouts may be necessary?

List the differences between product and process layout.

Answer:Facility layout and design is an important component of a business’s overall operations, both in terms of maximizing the effectiveness of the production process and meeting the needs of employees. The basic objective of layout is to ensure a smooth flow of work, material, and information through a system. The basic meaning of facility is the space in which a business’s activities take place. The layout and design of that space impact greatly how the work is done—the flow of work, materials, and information through the system

 

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