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Report - Essay Example

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PROJECT MANAGEMENT 1.0 INTRODUCTION: World business dynamics are changing with golden opportunities growing in BRIC countries. Among four, India and China are the fastest growing consumer markets with accelerating increase in their population. Several businesses around the world have moved their operation in this part of world to take advantage of cheap labor and high return with comparatively lesser formalities of investment and other matters than their own part of world and all these changes has brought changes in how projects are managed around the world1…
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ABC being Australia resident also wanted to directly invest in business with his friend in India. They have planned to start cottage stitching factory in name of ABC STICH in slum area of India in beginning and later proceed to expansion based on results. With vast variation on present in two countries business methodologies, it is agreed upon to use basic project management technique to evaluate business idea and its processes. 2.0 PROJECT MANAGEMENT Project is complex non- routine, one-time effort limited by time, budget and resources and performance specifications designed to meet customer needs. To accomplish project work in due course of planning to accomplish desired results, application of project planning is very important 3. There are different ways or techniques of managing a project. These techniques discusses all the activities that are expected to become part of project, possible time and details required to complete each activity as well sequence of activities and their dependency on each other4. ABC STICH will be using the following techniques to evaluate feasibility of the project and manage it: Work Break Down Structure (WBS) Gantt chart Project / Program Evaluation and Review technique (PRET CHART). 2.1. WORK BREAKDOWN STRUCTURE: Work Breakdown Structure as the name suggest is the breakdown of entire project into smaller chunks that identify various tasks’ details 5. It provides break-up of task in various levels in an organized way usually presented in hierarchical form; however, tabular form is also no exception6. Work Break Down is the foundational building block to initiating planning and executing, monitoring and controlling processes used in managing projects. It represents an explicit description of the scope, deliverables and outcome of the project; both internal and external deliverables. Highest level defines the ultimate outcome of the project while each lower level defines more details into small job chunks in logical manner. It only addresses the input, deliverables and output and not the process and schedule for these; therefore, forming base for other techniques. 2.1.1 Few Key characteristics of Work Break down Structure are as follow: Deliverable Oriented: every level is aimed at producing / completing certain task or phase that makes it aligned with due deliverables. Hierarchical Decomposition: hierarchical breakdown provides more manageable pieces of work that effectively provide greater details of work that contributes to overall project in question. The 100% Rule: The 100% rule states that Work break Down Structure encompasses the entire scope of the project from starting to end point while including all interim processes. Every chunk of the broken structure is an important contributor in overall project completion. Presentation Method Flexibility: presentation method flexibility depending on the project from hierarchical to tabular or any other presentation method also makes it more adaptable to various business and project needs. 2.1.2. APPLICATION OF WORK BREAKDOWN METHOD ON ABC STICH: To identify various levels, work break down structure of ABC has been so developed: 1. Identification of various possible locations. 2. Analysis of various locations based ... Read More
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