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UNIT 1

Project management is the process and activity of planning, organizing, motivating, and controlling resources,
procedures and protocols to achieve specific goals in scientific or daily problems. A project is a temporary endeavor
designed to produce a unique product, service or result with a defined beginning and end (usually time-constrained,
and often constrained by funding or deliverables ) undertaken to meet unique goals and objectives, typically to bring
about beneficial change or added value. The temporary nature of projects stands in contrast with business as usual
(or operations) , which are repetitive, permanent, or semi-permanent functional activities to produce products or
services. In practice, the management of these two systems is often quite different, and as such requires the
development of distinct technical skills and management strategies. The primary challenge of project management is
to achieve all of the project goals and objectives while honoring the preconceived constraints.
The primary constraints are scope, time, quality and budget. The secondary and more ambitious challenge is
to optimize the allocation of necessary inputs and integrate them to meet pre-defined objectives.

What is Project Management?


More specifically, what is a project? It's a temporary endeavor undertaken to create a unique product, service or
result. A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and
resources. And a project is unique in that it is not a routine operation, but a specific set of operations designed to
accomplish a singular goal. So a project team often includes people who dont usually work together sometimes
from different organizations and across multiple geographies. The development of software for an improved
business process, the construction of a building or bridge, the relief effort after a natural disaster, the expansion of
sales into a new geographic market all are projects. And all must be expertly managed to deliver the on-time, onbudget results, learning and integration that organizations need. Project management, then, is the application of
knowledge, skills, tools, and techniques to project activities to meet the project requirements. It has always been
practiced informally, but began to emerge as a distinct profession in the mid-20th century. PMIs A Guide to the
Project Management Body of Knowledge (PMBOK Guide) identifies its recurring elements: Project management
processes fall into five groups:
Initiating
Planning
Executing
Monitoring and Controlling
Closing

What is Project Management?


Project management is comprised of organizing, planning, motivating, and controlling procedures, resources and
protocols to achieve specific goals of a specific project. A project may be a temporary and time constrained mission
that is geared towards the production of a specific result, product or a service, also often constrained by funding and
other resources. The aim of project management would be to use the limited time and resources and channel them
towards the achieving of the goal of the project to achieve the optimum results that are beneficial and of added value.
There are many approaches to project management and certain projects do not follow a structured process at all.
However, the traditional approach is comprised of five
Components
1. Initiation
2. Planning and design
3. Execution and construction
4. Monitoring and controlling systems
5. Completion

What is General Management?


General management can be defined as coordinating the usage of available resources and time towards the
accomplishment of a specific goal or an objective of a certain organization or a business. This task usually
comprises of organizing, planning, staffing, leading, controlling or directing specific resources, time or people. This
also includes the manipulation of human, financial, technological or natural resources to the maximum benefit of the
cause at hand. In for-profit causes, the main function of general management would be to satisfy its stakeholders.
This usually involves the making of profit, creating employment opportunities to employees and producing quality
goods and services at a low cost to customers. Most organizations have a board of directors voted for by its
stakeholders for carrying out general management functions. Some have other methods such as employee voting
systems which is quite rare. According to Mary Parker Follett, management is the art of getting things done
through people. According to Henri Fayol, one of the most prominent contributors to modern management
concepts, management has six functions.
1. Forecasting
2. Planning

3. Organizing
4. Commanding
5. Coordinating
6. Controlling
.
What is the difference between Project Management and General Management?

Project management is usually employed in projects that are temporary and time constrained. General management
is employed for ongoing procedures or functions of certain organizations, businesses etc.
Usually, in project management, resources are limited. In contrast, general management is also responsible for
resourcing whatever necessary ingredients as deemed necessary for the continuation of functions.
Management is an academic discipline taught in schools and universities all over the world. Project management
often falls under this broad discipline of management.
Therefore, one can say that the difference between project management and general management does not lie in
leadership or other qualities required, but in the scope of responsibilities that lie within each role.

Knowledge management
Knowledge management (KM ) is the process of capturing, developing, sharing, and effectively using organizational
knowledge. It refers to a multi-disciplined approach to achieving organizational objectives by making the best use of
knowledge. An established discipline since 1991 (see Nonaka 1991), KM includes courses taught in the fields of
business administration, information systems , management, and library and information sciences. More recently,
other fields have started contributing to KM research; these include information and media, computer science, public
health, and public policy . Columbia University , Kent State University and the University of Haifa offer dedicated
Master of Science degrees in Knowledge Management. Many large companies, public institutions and non-profit
organizations have resources dedicated to internal KM efforts, often as a part of their business strategy, information
technology, or human resource management departments. Several consulting companies provide strategy and advice
regarding KM to these organizations. Knowledge management efforts typically focus on organizational objectives
such as improved performance, competitive advantage , innovation, the sharing of lessons learned, integration and
continuous improvement of the organization. KM efforts overlap with organizational learning and may be

distinguished from that by a greater focus on the management of knowledge as a strategic asset and a focus on
encouraging the sharing of knowledge . It is an enabler of organizational learning.

Project MODEL
Project MODEL (Ministry of Defence Estates London) is a project run for the Ministry of Defence (MoD) by the
ministry's Defence Infrastructure Organisation and VSM Estates, a joint venture established between Vinci PLC and
St. Modwen Properties to bid for the contract. [1] The project involves the consolidation and sale of surplus Ministry
of Defence properties around Greater London into around 180m of new developments at RAF Northolt. [2] A total
of 80% of the existing buildings at RAF Northolt were demolished and replaced by the newly built facilities. [3]
Under the project, the Royal Air Force was required to close two active stations, two other sites were vacated by the
United States Air Force, and the remainder by Ministry of Defence operations.

Project Management Phases


1.Initiation
The Initiation Phase consists of the processes that facilitate the formal authorisation to start a new project or a
project phase. Initiation processes are often Initiation processes are often performed by the performing organisation
outside of the strict project boundaries. For example, before project initiation, the organisations business needs are
identified and documented. As a next step the feasibility of a new project may be established through a process of
evaluating alternatives documented in a formal feasibility study. The documentation for this decision might also
contain a brief presentation of the project scope, its deliverables, duration, resource requirements and investment
estimation. During the Initiation Phase, the initial scope of the project and the resource requirements are further
refined. Initial assumptions and constraints are also documented and the other project related elements (such as
deliverables, schedule, etc.) are refined and undergo minor modifications to best fit the business and project needs.
Additionally, during the Initiation Phase, a large and complex project may be decided to be split into phases, so as to
be more manageable and produce intermediate outputs or results.
2.Planning
During the Planning Phase, information is gathered from many sources with each having varying levels of
completeness and confidence. The planning processes identify, define and mature the project scope, project cost, and
schedule the project activities. As new project information is discovered, additional dependencies, requirements,
risks, opportunities, assumptions and constraints will be identified or resolved. As more project information or
characteristics are gathered and understood, follow-on actions may be required. Significant changes occurring
throughout the project life cycle trigger a need to revisit one or more of the planning processes and, possibly, some

of the initiation processes. The planning phase is iterative. Initially it gives emphasis on exploring all aspects of the
scope, technology, risks, schedule and costs. Updates arising from approved changes during project execution may
significantly impact parts of planning. As a result, greater precision will be put into planning for all aspects of a
project (i.e. schedule, costs, resources, etc.) to meet the defined project scope as a whole. This progressive detailing
is often called rolling wave planning showing that planning is an iterative and ongoing process. During planning
all appropriate stakeholders should be involved, depending on their influence on the project and its outcomes.
3.Execution
The Execution Phase aims at completing the work defined during the Planning Phase to accomplish the projects
requirements. This phase involves coordinating people and resources, as well as integrating and performing the
activities of the project in accordance with the plan. This phase also addresses the project scope that has already
been defined and implements approved changes. Normal execution variances cause some replanning of the work.
These variances may include activity durations, resource productivity and availability, and unanticipated risks. Such
variances may or may not affect the planning of the project but require some analysis. The result of this analysis can
trigger a change request that, if approved, might modify project planning.
4.Monitoring and Control
This phase is related to observing project execution so that potential problems can be identified in a timely manner
and corrective action can be taken, when necessary, to control the execution of a project. The key benefit of this
phase is that project performance is observed and measured regularly to identify variances from planning. This
phase also includes controlling changes and recommending preventing actions in anticipation of possible problems.
This phase includes, for example: Monitoring the ongoing project activities against planning and project
performance indicators; Influencing the factors that could circumvent integrated change control so that only
approved changes are implemented. This continuous monitoring provides the project team insight into the health of
the project and highlights any areas that require additional attention. When variances jeopardize the projects
objectives, appropriate processes within the Planning Phase are revisited. This review can result in recommended
updates to the planning of the project.
5.Closure
This phase is related to the formal termination of all activities of a project or a project phase, hand-off the completed
product to others or close a cancelled project. This phase, when completed, verifies that the defined processes are
completed in all phases to close the project ass appropriate, and formally establishes that the project is finished. The
above process groups interact with each other as shown
Furthermore, there is a distinct preparatory phase Project Origination which precedes all the above. In Project
Origination an individual proposes a project to create a product or develop a service that can solve a problem or
address a need in the Performing Organization.

7S Framework
Introduction
In the modern age of cutting-edge technology and continuous innovation, product life cycle is ever shortening.
There is constant pressure on companies to differentiate from competition and earn customer satisfaction. In such a
business environment, it is essential that internal organization network is strong and efficient to deal with any kind
of changes. The 7S framework introduced by McKinsey is one of the ways through which analysis can be done to
determine the efficiency of organization in meeting strategic objective . The 7S model is utilized to study and
suggest areas within company which needs improvement, examine the effects with change in strategy, internal
alignment with every merger and acquisition.
The 7 factors as per the framework can be defined as follows:
1. Strategy: It is defined as an action plan working towards the organizational defined objective.
2. Structure: It is defined as design of organization- employees interaction to meet defined objective.
3. Systems: It is defined as information systems in which organization has invested to fulfill its defined objective.
4. Staff: It is defined as workers employed by the organization.
5. Style: It is defined as the approach adopted by the leadership to interact with employees, supplier and customers.
6. Skills: It is defined as characteristics of employees associated with the organization.
7. Shared Values: It is the central piece of the whole 7S framework. It is a concept based on which organization
has decided to achieve its objective.

Usage of 7S Framework
The basis of the 7S framework is that for organization to meet its objective it is essential all the seven elements are
in sync and mutually balancing. The model is used to identify which out of 7 factors need to be balanced as to align
with change in organization. 7S framework is helpful in identifying the pain points which are creating a hurdle in
organization growth. Project Environment is a project focused upon organizing and improving articles related to the
natural environment and biophysical environment. Project complexity: Complexity is, fittingly, a much more
difficult concept to define. Once again, the SEI provides a solid definition from Webster's:
Complexity:

1. (Apparent) the degree to which a system or component has a design or implementation that is difficult to
understand and verify 1 ;
2. (Inherent) the degree of complication of a system or system component, determined by such factors as the number
and intricacy of interfaces, the number and intricacy of conditional branches, the degree of nesting, and the types of
data structures 2.

UNIT 3

A Gantt chart
A Gantt chart is a type of bar chart , adapted by Karol Adamiecki in 1896, and independently by Henry Gantt in the
1910s, that illustrates a project schedule. Gantt charts illustrate the start and finish dates of the terminal elements and
summary elements of a project. Terminal elements and summary elements comprise the work breakdown structure
of the project. Modern Gantt charts also show the dependency (i.e., precedence network) relationships between
activities. Gantt charts can be used to show current schedule status using percent-complete shadings and a vertical
"TODAY" line as shown here. Although now regarded as a common charting technique, Gantt charts were
considered revolutionary when first introduced. This chart is also used in information technology to represent data
that have been collected.

Critical Path Analysis and PERT Charts


Planning and Scheduling More Complex Projects Related variants: AOA or Activity-on-Arc Diagrams Critical Path
Analysis and PERT are powerful tools that help you to schedule and manage complex projects. They were
developed in the 1950s to control large defense projects, and have been used routinely since then. As with Gantt
Charts , Critical Path Analysis (CPA) or the Critical Path Method (CPM) helps you to plan all tasks that must be
completed as part of a project. They act as the basis both for preparation of a schedule, and of resource planning.
During management of a project, they allow you to monitor achievement of project goals. They help you to see
where remedial action needs to be taken to get a project back on course. Within a project it is likely that you will
display your final project plan as a Gantt Chart (using Microsoft Project or other software for projects of medium
complexity or an excel spreadsheet for projects of low complexity).The benefit of using CPA within the planning
process is to help you develop and test your plan to ensure that it is robust. Critical Path Analysis formally identifies
tasks which must be completed on time for the whole project to be completed on time. It also identifies which tasks

can be delayed if resource needs to be reallocated to catch up on missed or overrunning tasks. The disadvantage of
CPA, if you use it as the technique by which your project plans are communicated and managed against, is that the
relation of tasks to time is not as immediately obvious as with Gantt Charts. This can make them more difficult to
understand. A further benefit of Critical Path Analysis is that it helps you to identify the minimum length of time
needed to complete a project. Where you need to run an accelerated project, it helps you to identify which project
steps you should accelerate to complete the project within the available time.
How to Use the Tool
As with Gantt Charts, the essential concept behind Critical Path Analysis is that you cannot start some activities
until others are finished. These activities need to be completed in a sequence, with each stage being more-or-less
completed before the next stage can begin. These are 'sequential' activities. Other activities are not dependent on
completion of any other tasks. You can do these at any time before or after a particular stage is reached. These are
non- dependent or 'parallel' tasks. Drawing a Critical Path Analysis Chart

Scheduling (computing)
This article is about processes assignment in operating systems. For transmission assignment in networks, see
Network scheduler . For other uses, see Scheduling (disambiguation) . In computing , scheduling is the method by
which work specified by some means is assigned to resources that complete the work. The resources may be virtual
computation elements such as threads , processes or data flows , which are in turn scheduled onto hardware
resources such as processors, network links, and hardware cards. A scheduler is what carries out the scheduling
activity. Schedulers are often implemented such that they keep all compute resources busy (as in load balancing) or
they allow multiple users to share system resources effectively, or to achieve a target quality of service . Scheduling
is fundamental to computation itself, and an intrinsic part of the execution model of a language. A scheduler is what
makes it possible to have multitasking (executing more than one process at a time on a single CPU). A scheduler
may attempt one of many goals, for example, maximizing throughput (the total amount of work completed per time
unit), minimizing response time (time from work becoming enabled until the first point it begins execution on
resources), or minimizing latency (the time between work becoming enabled and its subsequent completion) [1] ),
maximizing fairness (equal CPU time to each process, or more generally appropriate times according to the priority
and workload of each process). In practice, these goals often conflict (e.g. throughput versus latency), thus a
scheduler will implement a suitable compromise. Preference is given to any one of the concerns mentioned above,
depending upon the user's needs and objectives. In real-time environments, such as embedded systems for automatic
control in industry (for example robotics ), the scheduler also must ensure that processes can meet deadlines ; this is
crucial for keeping the system stable. Scheduled tasks can also be distributed to remote devices across a network and
managed through an administrative back end.

Fast Track Projects


Fast-track construction is a scheduling technique in construction project management that may be associated with
design-build , construction-manager-adviser, construction-manager-constructor. [1] Fast-track construction reduces
the project time by overlapping the project design and construction phases. [2] The idea of fast- track construction
was reportedly developed in 1960s. [3] The concept of fast-track construction can best be visualized in the
comparison of concrete versus steel material choice for a multi-storey building. In the latter case, high investment
costs and the requirement to recoup expenditure through the building's income, combined with the nature of
concrete construction (relatively slow) may require construction to start prior to all information (such as top floor
design parameters) becoming available. In this sense, design changes could potentially cause problems in the latter
stages of construction. As a comparison standpoint, "fast-build" construction takes advantage of the reduced build
time associated with steel construction, thus making it convenient for a frame to be erected after all design
procedures have been completed. Both of these construction project-management styles, if applied to exactly the
same building plan and elevation status, could potentially result in project completion within the same time period.
However, the latter would have a reduced risk of design changes affecting overall project success.

UNIT 4
Cost Planning
Elemental cost planning is a system of Cost planning and Cost control , typically for buildings, which enables the
cost of a scheme to be monitored during design development. 1951 saw the publication of the Ministry of Education
Building Bulletin No 4 which essentially introduced the concept of elemental cost planning to the UK construction
industry. Its Author was James Nisbet. The concept has been refined and developed over more than 50 years in the
UK by BCIS (the Building Cost Information Service of the Royal Institution of Chartered Surveyors). Elemental
Cost Planning relies upon the adoption of a Standard Form of Cost Analysis for buildings which allows costs to be
compared on a common format and forms the basis of the benchmarking analysis central to the concept of Elemental
Cost Plans.

A cost estimate

A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product
of the cost estimating process. The cost estimate has a single total value and may have identifiable component values.
A problem with a cost overrun can be avoided with a credible, reliable, and accurate cost estimate. An estimator is
the professional who prepares cost estimates. There are different types of estimators, whose title may be preceded by
a modifier, such as building estimator , or electrical estimator, or chief estimator. Other professional titles may also
prepare estimates or contribute to estimates, such as quantity surveyors, cost engineers , etc. In the US, there were
185,400 cost estimators in 2010. [1] There are around 75,000 professional quantity surveyors working in the UK.

What Is a Cost Budget?


by Julie Davoren, Demand Media Keeping a keen eye on the costs of operating your business can help you make
decisions such as when to renegotiate contracts, expand to other markets and increase or lower your prices. Cost
budgets detail the expenses associated with operating your business, running a project or developing a product. It
tells the amount of money you expect to pay out for a given period and includes items such as labor and utility costs.

quality of conformance
Level of effectiveness of the design and production functions in effecting the product manufacturing requirements
and process specifications, while meeting process control limits, product tolerances, and production targets.

Quality Planning Process

1. The key steps in Juran's theory on quality are quality planning, quality control and quality improvement.

2. To implement a company-wide quality management process, you have to identify your customers, find out their
needs and work to meet those needs. You create measures of quality and organize to meet those measures
consistently. And you need to create processes that work in real-life conditions.
3. Juran's theory on quality postulates that top-level management must be sincere in its efforts to commit to quality
or else all efforts as such would not work.
Joseph J. Juans Trilogy of Quality Management. In addition to Deming, Juran was another great Founding Father of
quality, and was responsible for the famous Juran Trilogy concept. This quality philosophy consists of three steps:
Quality Planning, Quality Control and Quality Improvement.
1) Quality Planning: The quality planning phase is the activity of developing products and processes to meet
customers' needs. It deals with setting goals and establishing the means required to reach the goals. Below are the
steps in the quality planning process: Establish, quality, goals Identify the customers: those who will be impacted by
the efforts to meet the goals Determine the customers needs Develop processes that are able to produce those
product features Establish process controls, and transfer the resulting plans to the operating forces
2) Quality Control: This process deals with the execution of plans and it includes monitoring operations so as to
detect differences between actual performance and goals. It is outlined with three steps: Evaluate actual quality
performance Compare actual performance to quality goals Act on the difference
3) Quality Improvement: The is the process is for obtaining breakthrough in quality performance, and it consists of
several steps:
Establish the infrastructure needed to secure annual quality
Improvement
Identify the specific needs for improvement- the
improvement projects
Establish project teams with clear responsibility for bringing the project to a successful conclusion Provide the
resources, motivation, and training needed by the teams to- diagnose the cause, stimulate establishment of remedies,
and establish controls to hold the gains.

UNIT 5

Analyzing Time Plan


Introduction

When discussing time management, the term "structure" refers to the extent and amount of detail with which your
day is planned and organized, either by you or someone else. It also involves the limits placed on your time by
things like due dates and deadlines. In high school, the majority of students' time is structured for them by classes,
jobs and after- school activities, so the role of structure in time planning usually doesn't become an issue until
university. This article defines five basic levels of structure in student time management, moving from the least to
the most structured (see left menu). Each has its pros and cons.
Level 1: I Work When I Feel Like It
People functioning with this level of structure appreciate, and possibly even need, a lot of flexibility and freedom.
Just the word "schedule" can make them cringe and feel suffocated. Most students working at this level are usually
aware of deadlines and perhaps even write them on a calendar. They may have a general idea of what they should
accomplish within a given week, but most of the time they don't keep a regular written record of what they need to
do. Some simply don't need to. Much of what needs to be done on an ongoing basis is reading or other work that can
be put off when a crunch time comes up with few perceived negative consequences. These students are often in
programs (like English, for example) where there is little day-to-day work that has to be handed in - instead, there
are several major papers or assignments spaced throughout the semester. We suspect that program requirements like
this may intensify the preference for this low level of structure. Because students working at this level don't have
frequent deadlines and usually don't work from a plan or task list, when they sit down to work, they like to feel that
they have the freedom to do what they feel like doing at that moment. (But often they really don't, because what they
usually feel like doing is the easy stuff, with the result that they're putting off overwhelming, difficult, unpleasant,
and important work.) They're not necessarily doing less work than other students, it's just distributed unevenly
through the semester, compacted around due dates. Their assignments often require synthesizing ideas and creative
thinking, so these students may feel the need to wait for inspiration to strike, or for the "essay muse" to speak. Some
are convinced that without the pressure of a deadline, they won't get good ideas anyway, so there's no point in
starting to work on papers much ahead of time. Then, when a due date approaches, they work very intensely for a
few days (and nights), collapse from lack of sleep, then coast along again, just doing reading (if that), until the next
deadline. This is affectionately known as the "3C" time management technique, or the "cramcollapsecoast"
method. It is atypical of the way the most businesses and institutions operate.
Pros:
Creates perception of freedom and flexibility Helps some students feel that they, not their instructors, the institution
or other perceived forms of "authority" are in control of their time Develops skills in crisis management
Cons:
Periodic bouts of extreme stress. High risk of burn out and chronic procrastination Prone to spending most of the
semester playing "catch-up " Rarely time to do more than the minimum on any assignment, so work never reflects
students' true ability Repeated need to cram means that little information can be remembered after exams, therefore

students are robbing themselves of a true education Reinforcement of work habits which are not consistent with
most careers

Level 2: Minimal Structure Plan Students who prefer a bit more structure will often keep a calendar with due dates,
and sometimes a list of what they have to do, usually on a weekly basis. They may divide up tasks according to what
they will do on the weekend versus during the week, staying flexible within those parameters. To a large extent they
are still "doing what they feel like doing" when they sit down to study, but because of having more frequent due
dates to work towards, they have to take a more structured approach to planning their time. Some students, whether
they prefer more or less structure, feel that they have no choice but to work at this level, because of unique aspects
of their lives or learning environment which control time for them. For example, some students are "on call" for
work or family responsibilities, and some have limited access to the equipment or resources they need to do their
work. Because of these obligations or conditions, they often simply can't get the work done that they want to or have
planned to in a day. This can be a frustrating environment to manage, but here are a couple of ideas to try: Always
have something school-related to do with you to take maximum advantage of small, unexpected pieces of free time
Try to find innovative or unusual ways to get more control over the situation or the environment
Pros:
Maintains some sense of freedom, flexibility, and control as detailed above
Cons:
Still vulnerable to stress, burn out, cramming and procrastination Work often gets pushed to the weekend, resulting
in weekend overload and getting behind. See Using Weekend Time Effectively if this is a problem for you Still
reinforces work habits which are not consistent with most careers

Level 3: Daily Time Plan The next level of structure involves planning on a daily basis. Students at this level keep a
list of what they want to accomplish each day. Typically the lists are written in one, regular, weekly planning
session, when students look over the upcoming work for the week (as well as due dates on assignments extending
beyond that week), set priorities, and decide what needs to be done each day to keep on top of deadlines. (See
Making a Task List for specifics on how this approach works.) Students using this method report that they like
crossing things off their list, so much so that if they do something that's not on the list, they'll write it down so they
can cross it off. There is a sense of satisfaction when they accomplish everything on the list for the day, but often
this is a struggle and doesn't happen as much as they'd like, and sometimes the work that accumulates for the
weekend gets onerous as a result. See Using Weekday Time Effectively if this is a problem for you. Working at this

level of structure significantly reduces the risk of procrastination, although some students report that they tend to do
the easy tasks first, again for that satisfaction of crossing items off the list, and end up leaving the difficult or
unpleasant tasks for the end of the day. For more information on this see Finding Your Best Time of Day. It's also
important to incorporate Flexible Time when working with this level of structure, as a means of allowing for the
unexpected, and to ensure that everything on the list can get done when a task takes longer than anticipated or when
something unexpected comes up.
Pros:
Reduced risk of procrastination Increased effectiveness by working on a steady, daily basis Satisfaction of crossing
items off the list Reasonable sense of organization and control over the workload
Cons:
Possible reduced sense of freedom and flexibility Requires motivation and self-discipline to accomplish items on a
daily list Danger of pushing difficult tasks to the end of the day
Level 4: Segmented Day Plan The segmented day plan is a nice compromise between level 3 and level 5. With this
level of structure, the day is divided into morning, afternoon and evening, and tasks are defined for each of these
periods. As an alternative strategy, rather than determine which subject-related task will be done in each segment,
some students prefer to plan the type of task that will be done. For example, students who get sleepy when reading
will plan to do the reading for all their subjects at the time of day when they are most alert. So, for example, Monday
afternoon is reading time, rather than Psychology or Chemistry time. By scheduling tough tasks for the morning or
afternoon, the stress that goes along with having them hang over your head all day can be reduced.
Pros:
Provides flexibility within are a more structured approach to planning Reduces problem of difficult tasks getting
pushed to the end of the day
Cons:
More chance of reduced sense of freedom and flexibility More motivation and self-discipline required to accomplish
items as per plan Requires realistic goal setting and accurate sense of how long tasks will take to avoid getting
behind

Level 5: Hourly Time Plan The most structured time plan involves defining which study tasks will be done at which
particular time in the day, hour by hour. It is effective for students who work best with a high level of structure, or
for students who need it only during crunch times, like exams. It is the best method we know of for getting (or
getting back) and keeping a feeling of control over the workload. Although planning hour by hour may seem

restrictive, there are strategies that can be built in to allow for some reasonable human flexibility. Flexible time is
the best of these. Perhaps the best thing about using this level of structure is that it requires you to make thoughtful,
intelligent decisions about the best way to use your time. It enables you to see exactly how much work you have to
do, and decide when to do it, which in turn makes it clear that you are responsible for the way you use your time. It
sounds serious and grown- up, and it is.
Pros:
Best method for feeling in control of workload Minimal risk of procrastination Provides realistic account of how
much work there is to do Ensures most important tasks are done at peak times of day
Cons:
Provides least amount of spontaneous choice Requires motivation and self-discipline to stick to time plan Requires
realistic goal setting and accurate sense of how long tasks will take to avoid getting behind the Next Steps.

Costbenefit analysis / Analyzing Cost Plan


Costbenefit analysis (CBA ), sometimes called benefitcost analysis ( BCA ), is a systematic approach to
estimating the strengths and weaknesses of alternatives that satisfy transactions, activities or functional requirements
for a business. It is a technique that is used to determine options that provide the best approach for the adoption and
practice in terms of benefits in labor, time and cost savings etc. [1] The CBA is also defined as a systematic process
for calculating and comparing benefits and costs of a project, decision or government policy (hereafter, "project").
Broadly, CBA has two purposes:
1. To determine if it is a sound investment/decision (justification/feasibility),
2. To provide a basis for comparing projects. It involves comparing the total expected cost of each option against the
total expected benefits, to see whether the benefits outweigh the costs, and by how much. [2]
CBA is related to, but distinct from cost-effectiveness analysis. In CBA, benefits and costs are expressed in
monetary terms, and are adjusted for the time value of money, so that all flows of benefits and flows of project costs
over time (which tend to occur at different points in time) are expressed on a common basis in terms of their " net
present value ." Closely related, but slightly different, formal techniques include cost-effectiveness analysis, cost
utility analysis , riskbenefit analysis , economic impact analysis , fiscal impact analysis, and Social return on
investment (SROI) analysis.

Risk management
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 [1] or to maximize the realization of opportunities.
Risk managements objective is to assure uncertainty does not deviate the endeavor from the business goals. [2]
Risks can come from different ways e.g. uncertainty in financial markets, threats from project failures (at any phase
in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes
and disasters as well as deliberate attack from an adversary, or events of uncertain or unpredictable root- cause .
There are two types of events i.e. negative events can be classified as risks while positive events are classified as
opportunities. Several risk management standards have been developed including the Project Management Institute ,
the National Institute of Standards and Technology, actuarial societies, and ISO standards. [3] [4] Methods,
definitions and goals vary widely according to whether the risk management method is in the context of project
management, security, engineering, industrial processes , financial portfolios, actuarial assessments, or public health
and safety. Risk sources are more often identified and located not only in infrastructural or technological assets and
tangible variables, but in Human Factor variables, Mental States and Decision Making. The interaction between
Human Factors and tangible aspects of risk, highlights the need to focusclosely into Human Factor as one of the
main drivers for Risk Management, a "Change Driver" that comes first of all from the need to know how humans
perform in challenging environments and in face of risks (Trevisani, 2007). As the author describes, it is an
extremely hard task to be able to apply an objective and systematic self-observation, and to make a clear and
decisive step from the level of the mere "sensation" that something is going wrong, to the clear understanding of
how, when and where to act. The truth of a problem or risk is often obfuscated by wrong or incomplete analyses,
fake targets, perceptual illusions, unclear focusing, altered mental states, and lack of good communication and
confrontation of risk management solutions with reliable partners. This makes the Human Factor aspect of Risk
Management sometimes heavier than its tangible and technological counterpart [5] The strategies to manage threats
(uncertainties with negative consequences) typically include transferring the threat to another party, avoiding the
threat, reducing the negative effect or probability of the threat, or even accepting some or all of the potential or
actual consequences of a particular threat, and the opposites for opportunities (uncertain future states with benefits).
Certain aspects of many of the risk management standards have come under criticism for having no measurable
improvement on risk, whether the confidence in estimates and decisions seem to increase. [1] For example, it has
been shown that one in six IT projects experience cost overruns of 200% on average, and schedule overruns of 70%.

Risk quantification techniques


In the past risk has usually been allowed for by taking prudent margins over best-estimate assumptions. These
prudent margins are frequently set by one individual often an actuary and are based on a little historical data and a

lot of judgement. In its most basic form, risk evaluation is little more than this with, perhaps, a slightly more formal
identification of the degree of prudence that is being targeted. There is increasing pressure, however, for more
quantitative risk assessment using established techniques, for example in deriving market value risk margins under
new international accounting standards and for internal capital assessment in the UK. As an illustration of the
techniques available, in this article I want to show how a life insurer might quantify the risk of increases in mortality.
For this example, we assume that the risk sensitivity is a 99.5% confidence level over a one-year time horizon in
other words, we are considering 1-in-200-years events. However, the approaches outlined can easily be applied to
different risks, time periods, and confidence levels.
Expert opinion
Expert opinion is an extremely useful tool in risk assessment and is often overlooked as a separate technique in the
quantitative actuarial world. It is particularly useful where relevant data are scarce, for example where conditions
have changed materially (reducing the usefulness of past experience), or where the risks are very company- specific
as would often be the case for lapse rates. In essence, the prudent assumption setter was providing one expert
opinion on the risk. However, it will often be appropriate to seek input from a range of experts across different
disciplines. One common approach to gathering expert opinion is to set up risk-management workshops for senior
managers within a firm to discuss the relevant risks. This can be quite effective, particularly if well facilitated, but
there are potential problems:
Small groups or single experts can suffer from significant bias.
Results can be distorted by office politics.
There is a tendency within a group to follow the leader, either the most respected or worse still the most
dominant individual in the group.
There will generally be a reluctance to abandon previously stated views. The Delphi method was developed by the
RAND Corporation to address these possible shortcomings, and came in response to a US military request to
prepare a forecast of future technological capabilities. However, the forecasting techniques developed have since
been applied in a much wider range of areas. The basic approach is to:
select a panel of experts;
develop a first round questionnaire on the risks to be considered;
test the questionnaire for problems such as ambiguity and bias, send the questionnaire to the panellists, then gather
and analyse the responses;
provide a statistical summary of the panels responses back to the panel; and

prepare a second round questionnaire; and so on until the results converge. The Delphi method still has
weaknesses that are a function of human behaviour, and are common to many of the other techniques available for
collecting expert
unbiased opinion for instance, the tendency to give greater prominence to more recent conditions or events.

UNIT 6

Role of team
There are eight MTR-i team roles: Coaches produce agreement and harmony across the team, trying to create a
positive team atmosphere and reach a consensus. Crusaders produce a sense of priority, stressing those issues that
have most importance so that discussions are focused on the most valuable topics Explorers uncover new potential
in situations and people and explore new areas and the possibilities that they present Innovators produce a sense of
imagination and contribute new and alternative perspectives and ideas Sculptors bring things to fruition , producing
action to address the most urgent matters, and using tools or techniques that they know (from experience) will work
Curators produce a clarification of ideas and information, producing a better knowledge and clearer picture of any
situation Conductors produce structure and introduce a logical organisation into the way things are done Scientists
produce explanation of what is happening and the cause of problems, and generate models to demonstrate how
things work

What is matrix management? It is a type of organizational structure in which people with similar skills are pooled
for work assignments, resulting in more than one manager (sometimes referred to as solid line and dotted line
reports, in reference to traditional business organization charts).
The matrix for project management

A lot of the early literature on the matrix comes from the field of cross functional project management where
matrices are described as strong, medium or weak depending on the level of power of the project manager. Some
organizations fall somewhere between the fully functional and the pure matrix. These organizations are defined in A
Guide to the Project Management Body of Knowledge[1] as composite. For example, even a fundamentally
functional organization may create a special project team to handle a critical project. However, today, matrix
management is much more common and exists at some level, in most large complex organizations, particularly
those that have multiple business units and international operations. Management advantages and disadvantages Key
advantages that organizations seek when introducing a matrix include: To break business information silos - to
increase cooperation and communication across the traditional silos and unlock resources and talent that are
currently inaccessible to the rest of the organization. To deliver work across the business more effectively to serve
global customers, manage supply chains that extend outside the organization, and run integrated business regions,
functions and processes. To be able to respond more flexibly to reflect the importance of both the global and the
local, the business and the function in the structure, and to respond quickly to changes in markets and priorities. To
develop broader people capabilities a matrix helps develop individuals with broader perspectives and skills who
can deliver value across the business and manage in a more complex and interconnected environment. Key
disadvantages of matrix organizations include:
Pure Organization
A "pure project organization" is a model of a business where project managers have total control over the project
they oversee. Central control at the managerial level must be weak for this to occur. Put simply, a "pure project
organization" might also be termed a "task force." In the case of a "pure project," the leader of this task force would
have to be given total authority for a limited period to solve a particular problem. In business, it is a great challenge
to find an example of such purity.
Project Team Organization Team Definition, Roles & Responsibilities, Organizational Chart Proper project team
organization is one of the key constraints to project success. If the project has no productive and well-organized
team, theres an increased probability that this project will be failed at the very beginning because initially the team
is unable to do the project in the right manner. Without right organization of teamwork, people who form the team
will fail with performing a number of specific roles and carrying out a variety of group/individual responsibilities.
Hence, when you plan for a new project, first you must take care of the best project team organization through team
building activities. Organizing a project team is a typical task of a project manager. Successful implementation of
this task requires the manager to acquire, develop and lead a group of people who are supposed to do the project.
Organization of the project team is the responsibility of the project manager who is committed to building a
productive team of professionals in order to guarantee that the project deliverables will be produced on schedule,
under budget and as per specification, and thereby the customer will accept those deliverables.
What Is A Project Team?

Before getting started to organize a project team, it is essential to understand the project team definition. Senior
supervisory staff (executives, project managers) as well as group leaders should clearly understand the definition
because such an understanding is required for establishing teamwork, maintaining continuous training, establishing
productive communications, and supporting collaboration. Heres the project team definition: A Project Team is an
organized group of people who are involved in performing shared/individual tasks of the project as well as achieving
shared/individual goals and objectives for the purpose of accomplishing the project and producing its results. The
team consists of the full-time and part- time human resources supposed to collaboratively work on producing the
deliverables and moving the project towards successful completion. A group of people turns into a team when every
person of the group is capable of meeting the following
conditions:
Understanding the work to be done within the endeavor Planning for completing the assigned activities Performing
tasks within the budget, timeline, and quality expectations Reporting on issues, changes, risks, and quality concerns
to the leader Communicating status of tasks Being a person who can jointly work with others So when you look for
candidates to your project group, first make sure a candidate is ready to meet all the conditions; otherwise switch to
another candidate. If you understand this, you get more chances to find the best candidates.
Three Conventional Roles
Leader. A project team leader is a person who provides leadership and guidance to the team and takes responsibility
for the results of teamwork. The team leader role involves the development and encouragement of the team through
training, leading, motivation, recognition, rewarding and other activities that stimulate or force team members to do
the required tasks.
Member . A project team member is a person who is actually involved in doing assigned tasks. Team members
directly access the project and actively evolve its processes. Theyre subordinated to the team leader.
Contributor . A project team contributor is a person or an organization that participates in teamwork but is not
actually involved in performing tasks and carrying out project team responsibilities. Contributors help improve the
project through giving valued suggestions, expert judgment and consultation. They arent responsible for the project
results. Often project team contributors have an interest or concern in the project, so they facilitate successful
completion.
Responsibilities And Duties
A team can be responsible for a variety of duties and responsibilities, depending on the project theyre involved in.
Good project team organization entails proper setting of team responsibilities and duties, while considering specific
goals and objectives of the project. Herere several common responsibilities and duties of a project team: Gaining
the right understanding of the amount and scope of assigned work

Following the planned assignments


Increasing the details level per task and activities, if needed Completing the assigned tasks within the constraints of
scope, quality, time and cost Inform the leader of any issues arisen Proactively communicate and collaborate with
other team members
1. Make a Project Team List. First you need to list all the people (and theirs names) who are supposed to be the
participants of your project team. You can do this after youve finished interviews with candidates to the team.
2. Allocate the Conventional Roles. Now you must think about what individuals will take what roles. Use the results
of your interviews to start with leaders, then list members and contributors.
3. Assemble the Whole Team. Use your team list with the details on the roles assigned to your people to assemble
the team. This means you need to formally constitute the team.
4. Identify the Stakeholders. Your team if formed, now you need to identify the stakeholders or those people/
organizations having a direct interest in or affected by your project. They are the sponsor and the customer. Note
that although the stakeholders are not participants of the team, theyre added to the project team organizational plan
because they influence decisions of the team.
5. Build the chart. Finally use all the data to create the chart and display relationships between the team and
stakeholders on it. The relationships will show who is reporting to whom and what supervisory mechanism is used
for leading teamwork.

Pure Organization
A "pure project organization" is a model of a business where project managers have total control over the project
they oversee. Central control at the managerial level must be weak for this to occur. Put simply, a "pure project
organization" might also be termed a "task force." In the case of a "pure project," the leader of this task force would
have to be given total authority for a limited period to solve a particular problem. In business, it is a great challenge
to find an example of such purity.

What is matrix management?


It is a type of organizational structure in which people with similar skills are pooled for work assignments, resulting
in more than one manager (sometimes referred to as solid line and dotted line reports, in reference to traditional
business organization charts ). For example, all engineers may be in one engineering department and report to an
engineering manager, but these same engineers may be assigned to different projects and report to a different

engineering manager or a project manager while working on that project. Therefore, each engineer may have to
work under several managers to get his or her job done.

Model Structure Selection: Determining


Model Order and Input Delay This example shows some methods for choosing and
configuring the model structure. Estimation of a model using measurement data requires selection of a model
structure (such as state-space or transfer function) and its order (e.g., number of poles and zeros) in advance. This
choice is influenced by prior knowledge about the system being modeled, but can also be motivated by an analysis
of data itself. This example describes some options for determining model orders and input delay.

Teamwork is "work done by several associates with each doing a part but all subordinating personal prominence to
the efficiency of the whole" . [1] In a business setting accounting techniques may be used to provide financial
measures of the benefits of teamwork which are useful for justifying the concept. [2] Teamwork is increasingly
advocated by health care policy makers as a means of assuring quality and safety in the delivery of services; a
committee of the Institute of Medicine recommended in 2000 that patient safety programs "establish
interdisciplinary team training programs for providers that incorporate proven methods of team training, such as
simulation." [3]

by Sharon Feltham, Excellerate Performance One of the most influential models of the team developmental process
is that of Bruce W. Tuckman (1965). He gave us a way to interpret and make sense of the various stages groups pass
through on their way to becoming an
effective team.
Tuckman described this journey as five distinct stages:
Forming
Storming
Norming
Performing

Adjourning
.
The Five Stages of Team Development
Stage 1: Forming
What does it look like?
Team members are reserved and polite, putting on their best behaviour to create a good first impression. Conflict is
avoided at all costs because of the need to be accepted into the group. There may be a sense of excitement and
opportunity, but also cautiousness and uncertainty about the future. Team members reflect not only on the tasks at
hand, but also about each other. Initial ground rules are established as the team begins to discover how to work
together. The Challenge The Team Dynamic The Questions Creating a purpose and managing team membership
Exploring why we are together? Testing to identify the boundaries of both interpersonal and task behaviours
Assessing other team members and the commitment Evaluating potential risks and rewards Establishing
relationships with leaders and other team members What are we supposed to do together? Do I want to get involved
in this? Is everyone committed to this? How can I contribute? What will you expect of me? What are the pros and
cons of being on this team? Who are these people? Will we get along? Can I trust you? What will you contribute?
Stage 2: Storming
What does it look like? Differences in opinion are more common and are expressed more openly. Conflicts emerge
around interpersonal issues and task needs. Power struggles may emerge as leadership is challenged and factions
begin to form. Team members compete for positions, challenge goals, the group influence and resist task
requirements. Note: Many groups commonly stall at this stage. The Challenge The Team Dynamic The Questions
Managing expectations and team roles Challenging the teams purpose Splintering into subgroups Struggling for
power and control Resisting tasks and authority Avoiding dealing with underlying tension and hidden agendas Why
are we doing this? Whats the point? Why are we doing it this way? Why don't we do it that way?
Stage 3: Norming
What does it look like?
A sense of renewed optimism as the team begins to feel a sense of team identity. It experiences increased
cooperation as roles and responsibilities become clearer and agreement on norms and expectations for behavior are
reached. The Challenge The Team Dynamic The Questions Managing relationships and task efforts Implementing
the teams performance expectations Re-establishing specific roles and operating procedures Defining rules for
problem solving Clarifying processes for resolving team conflicts Building team culture Who does what and when?
How often will we meet? How do we resolve problems? How do we make decisions? How do we handle conflicts?
What makes our team special?

Stage 4: Performing
What does it look like?
Reaching this stage is largely dependent upon the successful transition through the previous stages. The team knows
clearly what it is doing and why. Relationships are strong and while disagreements may occur they are resolved
quickly and positively. Roles become flexible and functional, and group energy is channelled into the task. There is
maximum work accomplishment, interdependence, personal insight and constructive self-change.The Challenge The
Team Dynamic The Questions Managing task completion, evaluating results, striving for improvement Alignment
Each person has an integral role in the teams work Accomplishment. People and the team as a whole are meeting
and exceeding role and task expectations Cohesion. Feeling like a team Commitment. To each other, the team and
to accomplishing the teams goals. Loyalty and trust How can we improve this? Is there a better way?m What more
can we do? How can I help?
Stage 5: Adjourning
What does it look like?
Adjourning is typically related to the end of a project team however, its also relevant when the purpose and structure
of team changes substantially due to sale, merger or a restructuring process. This stage can be particularly stressful
where the dissolution of the team is unplanned. This stage involves the disbandment of the team, termination of
roles and the completion of tasks. This stage is also referred to as 'mourning' given the sense of loss experienced by
some team members. The Challenge The Team Dynamic The Questions Managing relationships and task efforts
Conflicting emotions (sadness, anger, gratitude, happiness) Uncertainty about how to end and their future Grieving:
Feelings of dislocation and loss Team members deal with this stage in different ways: Avoiding: Tasks, arguing over
minor details or past arguments resurface Denying: pretending the team will continue,

5 Ways to Manage Different Personality Types


:
1. What personality type is each of your employees? Finding out if your employees are thinkers or feelers will make
it much easier to manage them. Thinkers are more prone to making decisions based solely on logic, while feelers
make their decisions based on relationships and value what is "good" over what is objectively best for the team. If
you're not sure who fits which type, gauge how they react the next time someone disagrees with them, and you'll

have your answer. After identifying your employees' personality types, you can adjust your managing style to their
way of working. Be more sensitive to the feelers and focus more on your talking points when dealing with thinkers.
2. Build a relationship. To get through to people who don't like to be managed, try building a relationship with them,
first. If you are successful at this, you might be surprised at how loyal they become. "Results and relationships are
intertwined, even inseparable" Zack writes.
3. Set the bar high. When people do standard work, they feel mediocre about their jobs, and even praise won't help
them get out of this rut. "They recognize that their manager has a low bar, so they do, too. They feel average about
the work product as well," Zack says. Instead, push your employees. Because most workers, especially the ones who
don't like being managed, actually feel the way they do because they're independent and creative. Use their skills to
your advantage.
4. Know what's most important to them. When it comes to Gen Y workers, freedom, flexibility and trust are the
most important characteristics of their ideal workspace, Schawbel tells us. Gen Y is also known for wanting
mentorships with their managers, so be willing to provide them regular feedback instead of annual reviews. Better
yet, take it one step further and create leadership development programs where your younger workers aren't just
being told what to do, but they're also being trained to move beyond their job descriptions.
5. Quit taking things personally. If you're going to properly manage your workersespecially if they despise
hierarchyyou need to remember to not take their reluctance to follow your directions too personally. Identify their
personality, win over their trust and you will start to see things change for the better.

Tips for Effective Teamwork


Teamwork Guidelines
Most assessment tasks test individual performance, so some students find it challenging to work and be assessed as
part of a team. Often the work takes longer than an individual task would and there is usually less individual control
over the end product or performance. Group dynamics can also add the potential for conflict. There are significant
benefits, though, especially when a team functions well. For instance, collaborative or social learning is well known
to improve the quality of learning. Sharing or contesting ideas and knowledge promotes deeper understanding, and
working in a team requires and develops a broader range of skills than individual assignments. More can be
achieved through teamwork in a shorter timeframe and at a higher quality if the team works well together. Teams in
law firms, for example, are formed to pool expertise and experience in tackling specific cases or projects. And this is
why firms place considerable emphasis on these skills in recruitment. Our WorkSkills website has more information
and comments from former students and employers on these issues. These guidelines summarise the characteristics

of effective work teams and suggest an approach to achieving a cohesive and successful team experience.
Characteristics of Effective Teams Research into effective teams in a wide range of contexts identifies the following
common characteristics:
Membership: two or more individuals work together toward a common goal Common goal: the members have
negotiated shared aims and goals Social organisation: the group develops or actively negotiates functional norms,
roles, and relationships Interdependence between members: members succeed only if all succeed Productive
involvement: all members are supported to contribute equally to the workload; resources and skills are identified
early on and used effectively. Decisions are made by consensus. Effective communication and interaction: face-toface and other modes of communication help to monitor group processes and dynamics, drive creativity and enable
productive work practices Mutual interest: members focus on the interests of the group as a whole, and avoid
personalising problems or differences of opinion Collective consciousness: members perceive themselves as
belonging to the group even when the group is not together Mutual trust: members listen to each other, respect
contributions, help each other to clarify ideas, and show interest in each other Cohesion: group processes function
smoothly without need for intervention, members are able to contribute equally to produce something greater than
the individual parts, individual contributions are brought together seamlessly and within nominated deadlines, and
members feel they have learnt something from the process and from the other group members. Adapted from
Maughan & Webb, Lawyering Skills and the Legal Process; and Hay Dungey & Bochner Making the Grade: A
Guide to Successful Communication and Study It is not always necessary to achieve all of these elements or attain a
high level of group cohesion to end up with good results; though it certainly helps. Getting Started Dont jump
straight into the work. Take time to get to know each other and develop ground rules for the group. Social
psychologist Bruce Tuckerman noted four key stages: Forming: group members get to know each other, establishing
guidelines, goals and processes, assessing and breaking down the task at hand Storming: individuals assert
themselves and develop preferences, with arguments or disagreements potentially arising about how to proceed
Norming: work begins in a more organised and coordinated manner, rules and processes are established and
progress is made Performing: the team as a whole focuses entirely on the task and its completion These stages may
not be universally applicable, but the idea is to recognise group work as a process, and find ways to progress to the
performing stage as quickly as possible. As a starting point, as well as getting t