Assignment on Project Management

Added on - Nov 2020

Trusted by 2+ million users,
1000+ happy students everyday
Showing pages 1 to 4 of 14 pages
Cases in projectmanagement
Table of ContentsPROJECT 1......................................................................................................................................1Different estimated techniques discussed in case.......................................................................1How does a project manager decide that one estimation is better over another.........................3PROJECT 2......................................................................................................................................1INTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Q1. Project management and its five stages................................................................................1Q2. Procurement management and actions to be followed in procurement management..........3Q3. Types of qualitative forecasting techniques.........................................................................4Q4. Different similarity and differences between manufacturing and service sector in terms ofmanagement................................................................................................................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
PROJECT 1Different estimated techniques discussed in caseThis case study is about Barbara a project manager who won a project throughcompetitive biding. In present case whenever any request for proposal comes into Barbara'scompany it first reviewed by senior manager then it transfer to proposal department. Thisdivision is consist of a estimating group that work toward estimating all the work whichever isdone throughout the project span. Under this case study various types of estimated techniqueshas been used by Barbara in order to determine about the task that are being assigned and timetaken by it to get completed in an effective manner. Following are the estimated techniques thatare consider by Barbara throughout project:-Three point estimation:-It refers to the type three basic type of estimations that supporta project manager in understanding the cost as well as duration of an activity. It is called as threepoint estimating because team members of project provide their optimistic, pessimistic and bestguess estimates for their deliverables. Three point estimation consists of three different types ofestimates that can be better understood using following points:Optimistic estimate:- It refers to the time which is estimated by project team which isrequired by them in order to complete the whole project when work goes as per planned.Pessimistic estimate:- It can be defined as an estimated time which is required by projectteam to complete its work when everything which is planned went wrong.Most likely estimate:- It refers to the time which is most likely to happen that will usuallyfall between optimistic and pessimistic.This estimating technique is consider as a best practice because it provides projectmanager with better commitment because the estimate consider certain risk in the assignment.Three-point approach support in calculation most accurate time as well as cost required by theproject to get completed. Apart from this it also support in increasing the accuracy throughoutthe one point estimates. It also help in analysing various risk factors that are involve in each task.In the present case scenario Barbara's is handling a project which she won fromcompetitive bidding in which one of the most critical work package was estimated at twelveweek by using one grade 7 employees for full time work. But the main issue is that Barbara hasalso performed this task in previous project and at that time it required one-person full time for1
fourteen year. So in order to calculate proper estimation of time and cost the estimating group ofproposal department had used three-point estimate technique. Under this technique it has beenfound that optimistic time taken by task was four week, pessimistic time taken was aroundsixteen week and most likely time taken was thirteen weeks. The time taken of four week isbased over an estimation where the complexity factor is not consider. But apart from this time isdivided among task or activities on the bases of triangular distribution where each among threetype of estimates had an equal likelihood of occurrence and from final estimation it has beenfound that this task will take thirteen weeks.Analogy estimation:-It refers to a estimation technique where the values of parametersare being used by analysing the historical data with an aim to estimating the similar parameterfor similar sort of future activities. Most common parameters are cost, duration, scope andmeasure scale contain the parameters such as weight, size and complexity. Analogy estimation isconsider as most appropriate estimation technique as it is based on past experience. Hence,project manager, team experience and judgement are jointly applied in estimating process andbecause of which it is consider as a combination of expert judgement and historical information.This technique is most beneficial in case when very few details are present in front of projectmanager regarding current project. As this support in evaluating the last similar kind of projectsthat further help in estimating the result as well as time or cost taken by project as per theexperience of team members.Analogy estimation technique is an appropriate technique for identifying the duration aswell as efforts required within particular task. This estimation technique can also be used whileapplying Work Breakdown Structure. Under this technique rate of organisational success isexpected to be higher because this technique is based on past project data of organisation. Hencethe experience in similar project will support project team in determining the potential risk aswell as barriers that may be faced during work. Apart from this it also help iun determiningrequired time as well as cost which is needed by team to complete the work in most appropriateand effective manner. In current case study after applying Three-point estimation technique,Barbara has realise that current task will take time which is closer to fourteen week. Though it isa short duration i.e. of 1 week but it may have a serious impact over Barbara's project as she willbe penalised for late delivery of their work. So with this confusing she decided to ask Peter, a 9grade employee who is assigned with this task. She also worked with Peter in last project also2
Desklib Logo
You are reading a preview
Upload your documents to download or

Become a Desklib member to get access