Sikkim Manipal University (SMU) MBA Solved Assignments (MB 0033)-2010
Meaning of Baseline and Reviewing Process of Baseline from MB0033 Assignment
The question is the part of Project Management of MB0033 assignment of SMU MBA. It is – “What is meant by baseline? How is it reviewed?” You already have gotten many assignments in this category such as – Deming’s philosophy relevant to Project Management, How can risks be prioritized in a Project Management, Main Considerations in Planning P2M, significance of reviewing ROI and Introduction to ScMo Supply Chain Monitoring. Now, you will get a new assignment about “What is meant by baseline? How is it reviewed?”
The Baseline created can be used to compare the original project plan with actual events and achievements. This will display the days required for each task and project phase. For actual operating instruction phase refer the Microsoft project user handbook.
After creating a baseline, if the project has begun, it is necessary to enter actual dates that tasks are being completed and the resource utilization used to complete them. Again review different views and the cost and summary tables before proceeding to the next section. Return to the entry view of the Gantt chart before proceeding.
At times people and equipment can become assigned more work then they can complete in normal working hours. This is called over allocation. Project can test for this condition and reschedule (or level) their workload to accommodate completing tasks during a normal day.
After a baseline has been established and the project has begun, it is desirable to determine if task are being accomplished on time and/or if cost over runs are occurring.
Project has many different built-in reports and has the capability building custom reports and exporting data to other MS office applications for integration into other reporting venues.
Significance of Reviewing ROI and Explain Return on Investment for MB0033 MBA Assignment
It is the question of Project Management of MB0033 assignment of SMU MBA. The question is – “What is the significance of reviewing ROI? Explain in detail.” We already have discussed on many assignments in this category such as – Deming’s philosophy relevant to Project Management, How can risks be prioritized in a Project Management and Introduction to ScMo Supply Chain Monitoring. Now, I am going to present my theory on ROI (Return on Investment) for MB0033 MBA assignment of SMU.
Return on Investment (ROI) is the calculated benefit that an organization is projected to receive in return for investing money (resources) in a project within the context of the review process. The investment would be in an information system development or enhancement project. ROI information is used to assess the status of the business viability of the project at key check points throughout the project’s life-cycle.
ROI may include the benefits associated with improved mission performance, reduced cast, increased quality, speed, or flexibility, and increased customer and employee satisfaction. ROI should reflect such risk factors as the project’s technical complexity. The agency’s management capacity, the likelihood of cost overruns, and the consequences of under – or non-performance where appropriate, ROI should be reflect actual returns observed through pilot projects and prototypes.
ROI should be quantified in terms of dollors and should include a calculation of the break-even point (BEP) which is the date when the investment begins to generate a positive return. ROI should be re-calculated at every major checkpoint of a project to see if the BEP is still on schedule, based on project spending and accomplishments to date. If the project is behind schedule or over budget, the BEP may move out in time; if the project is ahead of or under budget the BEP may occur earlier. In either case, the information is important for decision-making based on the value of the investment throughout the project life-cycle.
Any project that has developed a business case is expected to fresh the ROI at each key project decision point (i.e. stage exist) or at least yearly.
Main Considerations in Planning P2M MBA MB0033 Assignment of SMU
The question has been taken from Project Management of MB0033 assignment of SMU MBA. The question is – “What are the main considerations in planning P2M? Give relevant examples.” There are already many assignments in this category – Deming’s philosophy relevant to Project Management, How can risks be prioritized in a Project Management and Introduction to ScMo Supply Chain Monitoring.
Some of the considerations for effective program management are given below:
Focusing on the various strategic initiatives taken up for multiple projects and the issues related to benefits and risks.
Bringing about the attention of management to a defined set of benefits, which are understood immediately, which are understood immediately, which are managed thought the implementation and at completion.
Helping to management to set priorities, choosing options and allocate resources.
Setting up mechanisms to measure and ensure that the projects making contributions for realizing expected business benefits.
Leading the organization on the path of ‘where it’ and ‘where it wants to be’. Ensuring that the effects of the programme driven changes are coordinated, the transitions are successfully managed. The operations are effective and efficient.
The objective sought to be achieved and the methods which are adopted and the activities that are going to be undertaken i.e. the process include the following steps.
Preparing and maintaining a set of activities and the workflow that is to be followed and identifying business areas responsible for different stage in the above:
The marketing sure that the priorities that the above generate are relevant and the projects are run on the basis of their impact on the business in a whole:
The Process has to incorporate all the important aspects which are to be addressed during implementation and management of the projects. It is important to identify all factors and incorporate resources – men, material, technology and time, so that their provision can be planned.