Discuss the importance of topmanagement commitment and thedevelopment of standards for successfulproject management. Provide examples toillustrate the importance of these itemsbased on your experience on any type ofproject. Discuss the unique challengesthat an IT project presents.

Top management responsibility assumes an imperative part in the development of any association. The…

Answered: Discuss the importance of top…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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In addition to digitalization and adoption of agile practices, what would you consider as factors that are essential towards management quality to capital project?
A software company in Barbados is organizing a competition, inviting business ideas that promote the use of smartphone technology to conduct business. You enter your business plan, an initiative to involve unemployed teenagers and young adults from local communities to generate business and employment, and it was so well received that you were awarded a special prize of 50,000 Barbados dollars. You plan on using your prize money to implement your idea. a. Identify key decisions you need to make, the information you require to make these key decisions, and the five major business processes you need to engage in.
Risk management processes are evolving with the focus on all of the following except: a. Development of regulator guidelines for imposing risk-based techniques to reduce systemic risks. b. Developing risk-based techniques to meet risk-based capital requirements. c. Tracking risks models for better capturing of risks and relating them to instrumental controls. d. Emergence of new organizational processes for better integrating these advances.
Explain the now-classic Boston Consulting Group (BCG) approach in detail. Describe what type of strategy a company should use to manage these SBU’s.
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Supratim Sarkar (Sarkar), head of Corporate Strategy and Operations at TechVision Pvt. Ltd. (TechVision) – an Indian multinational technology company, was a busy man. As head of the Corporate Strategy and Operations function, Sarkar had to manage various tasks with both short-term and long-term implications. He had to juggle between different activities, including heading a committee to formulate a 5-year plan for TechVision to become a $1 billion company by 2025; preparing an annual plan for 2020-21; reviewing the sales performance dashboard that went out to the CEO every fortnight; identifying sales opportunities on a quarterly basis; managing multiple stakeholders, planning and prioritizing the proposals and bid documentation for large deals; creating a robust tool that captured the sales representatives’ performance, and ensuring sales incentive pay-out happened every quarter; ensuring compliance to sales pipeline management; identifying opportunities for account penetration;…
create an Operationalplan for a wind farm (wind turbines that produce electrcity) Your operational plan should include key processes,structures and strategies involved in the transformation ofinputs into outputs. Where possible, a transformationmodel may be used to demonstrate this process. Thebusiness approach to planning and management ofproduce and services may also be included. And descriptions of key personnel and the organisationalstructure, employments agreements, etc.
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Answer the following questions.1. Why is planning an important activity for engineer managers?2. How may “planning” be defined?3. What planning activities are undertaken at various management levels?4. What are the steps in the planning process?5. What are the types of plans?How may they be classified?6. What is the production plan? What are its components?7. What is a budget? 8. What is meant by “ company mission”?9. What are the barriers to planning?10. What may be used as aids in planning
Read the case study below and answer ALL the questions that follow.CRISIS ITIn May 2007, Frontier Airlines Holdings hired Gerry Coady as chief information officer (CIO). Nearly ayear later the airline filed for bankruptcy under Chapter 11. In an interview, Coady describes how hemanaged IT projects during the bankruptcy and recession crisis of 2008–2009.Fundamentally, Coady faced a situation of too many projects and too few resources. Coady used astrategy of focusing on reducing the number of projects in the portfolio. He put together a steeringcommittee of senior management that reviewed several hundred projects. The end result was a reductionto less than 30 projects remaining in the portfolio.How Can You Get to a Backlog of over 100 Projects?“There are never enough resources to get everything done.” Backlogs build over time. Sacred cowprojects get included in the selection system. Projects proposed from people who have left the airline stillreside in the project portfolio.…
Activity: Below is the list of strengths, weaknesses, opportunities, and threats of Nestle but it does not tell management what can be done by these. List down the Strengths-Opportunities (SO) strategies that involve using strengths to take advantage of opportunities, Strengths-Threats (ST) strategies that involve using strengths to fight threats, Weakness-Opportunities (WO) strategies that involve converting weaknesses to strengths by using opportunities and lastly Weakness-Threats (WT) strategies involve overcoming weaknesses to avoid threats. Blank 5. Opportunities are 1. Internet users increasing around the world. E-commerce is also growing with the increase in internet usage. 2. Social media users are increasing worldwide. 3. Household income is increasing and so is the consumer spending. Inflation in the economy is expected to remain low. 4. Growth in environmentally friendly products and services. Government is offering subsidies on these. an Interest rates are low, which…

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Discuss the importance of top management commitment and the development of standards for successful project management. Provide examples to illustrate the importance of these items based on your experience on any type of project. Discuss the unique challenges that an IT project presents.