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The five common project risk strategies
The five common project risk strategies
The five common project risk strategies
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1. Compare and contrast Teradyne's traditional project execution strategy to the approach it used in Jaguar. What was different and what was similar? In the traditional approach, 1. The requirements were not well defined and the stakeholders kept on adding new features to during the development there were no clear goals defined. This led to the shift of delivery time and affected the quality. 2. Individual divisions and managers had the final say for using any tools. 3. Project progress and phase was not clearly visible to the higher management. 4. Divisions were very inconsistent in project tracking with some using detailed project planning, phase gate model and conduction after-action, while the rest did not use any. 5. Each market segment used a different test platform. 6. Resource allocation was over committed, sometimes to the extent of 300%. In Jaguar approach, 1. Adding new features during development is not allowed, thereby helping in finalizing delivery date. Requirements and are well defined. 2. Management tools such as 3-point estimation, critical path analysis, work breakdown structure and earned value analysis are used. 3. Higher management has a clear view of the progress of the project. 4. Project tracking becomes accurate with the help of tools. 5. Flexible platform strategy is used for testing. 6. It provided correct resource allocation but sometimes forced people into commitment, which is not possible in real life. 2. What impact did the project management tools have on the Jaguar Project? Specifically, how did it change behaviour? How did it impact performance? • Jack O’Brien, the head, was convinced that the tools would provide a robust means to communicate the project status to management and to identify critical issues. • A separate ‘program management’ function was established to facilitate the use of the tools. • Data was entered into a scheduling program to ensure convergence of the schedules across all the sub-teams. • The inter-temporal relationship between every task was specified in advance so the impact of delay of a task on other tasks could be calculated. • The tools allowed the tasks to be simulated in three different scenarios. • The management team was sceptical with regards to the project metrics and did not pay enough attention to the data. • The hardware subsystems managed to hit new milestones, but the software kept on falling behind schedule. 3. What were the unintended consequences of using the project management tools? What lessons should Teradyne take away from the Jaguar project? Unintended consequences of using the Project Management Tools: 1. Though the project management tools were intended to improve the process but it garnered mixed reaction from the team members as they saw it as a distraction in their work.
Nonetheless, establishing timing standards for the project, pertaining to an estimated date of completion, along with a schedule for conducting tests, is critical, according to information provided by the SANS Institute (source). For example, projects that exceed the estimated date of completion may become costly, and running tests during peak and/or critical hours may result in several technological inefficiencies for Alexander Rocco Corporation. Likewise, establishing future meetings or other form of communications for updates throughout the course of the project is also
Project Management Techniques Employed. Several project management techniques were employed to make this project a success. Although there are several techniques available, those that were chosen were specifically tailored to the needs of the Trillo Apparel Company. Those that will oversee each segment have specified skills and trainings. The managers are flexible, and quick to improvise. For WFPM, innovation has proven to be key.
In terms of the whole project the main issues faced were around no changes to project schedule as it is not flexible and project must be completed within 1 year and the scope must be supported and not changed, and it was challenging to find a vendor who could meet these criteria.
teams were formed to review all areas of an organization to include the planning, leadership
This disorganized project management soon contributed to frustrations on both the client side and within the Consulting Group team, straining our day-to-day interactions. Midway through the engagemen...
Based on this case study, acceptance of the formal project management has brought many questions which need clear answers, to understand the situation and have less managerial problems.
b.Identify appropriate project management tools and describe how they can be accessed. Provide an example of the tool and outline how it relates to your project.
Large or complex projects in big company often require some sort of leadership. In this case, by introducing traditional project management tools are obviously important for project leaders like Kent Black since the methods and tools that project leaders use can be helpful for
Wideman, M., (1993). Project Management Case Study The Custom Woodworking Company - Woody 2000 Project. [ONLINE] Available at: http://www.maxwideman.com/papers/woody2000/intro.htm. [Last Accessed 24 April 2014].
They outsourced and gave a quick training on project management for 50 employees (out of 300), some of which were place as part of the committee to create a project management methodology for the company. After two months of meetings, and mainly due to personal interests, three stage-gate models were created: information systems, new products/services provided, and one for acquiring new
However, project management failures are very common. It can be caused by one factor or even a cumulative set of factors.
In this situation there were two key mistakes made by the group and the project leader. In modern society, one of the biggest innovations is the use of technology to communicate. While this advancement provides a quicker and more accessible form of communication, it may not be the most effective. Particularly in this case, the group created a physical barrier by removing face-to-face communication. This is because using text to communicate can lead to misinterpretations and also opens up possible errors in the message being sent. In this case, the group leader had a goal he was trying to...
There was a huge and a high pressure government project which had to be completed in a short span of time. It had several teams associated with different
Gradually, quality improved, as well as the confidence and dependability of the team. Once I realized the standardized processes allowed for better scrutiny of information, I could then react and confidently guide the project. Given the responsibility, the team was empowered to make decisions. They were also asked to manage clearly, consistently, and act as partners.
When planning a new project, how the project will be managed is one of the most important factors. The importance of a managers will determine the success of the project. The success of the project will be determined by how well it is managed. Project management is referred to as the discipline that entails the processes of carefully planning, organizing, controlling, and motivating the organization resources so as to foster and facilitate the achievement of specific established and desired goals and meet the specific criteria of success required in the organization (Larson, 2014). Over the course of this paper I will be discussing and analyzing the importance of project management.