Graduate School of Business University of the Visayas

MIDTERM EXAMS

Submitted to: Dr. Juanita N. Ceniza In Partial Fulfillment of the Requirements for the BA 214 Course Submitted By: Darell C. Mabalatan August 25, 2012

1) Discuss the role of Project Manager in Project Management. A project manager is usually responsible for the success or the failure of the project. They first need to define the project and then build its work plan. If the scope of the project is not very clear, or the project is executing poorly, the manager is held accountable. However, this does not mean that the manager does all the work by himself (which is practically impossible). There is an entire team under the project manager, which helps to achieve all the objectives of the project. However, if something goes wrong, the project manager is ultimately accountable. The tasks to be handled by a project manager to successfully manage a project include: Integration Management - This is developing and managing the direction of the project Scope Management - This includes planning, defining and managing the scope of the project. Time and Cost Management - This covers developing a schedule, allocating resources and managing funds for the project. Quality Management - This involves taking care of the quality of the process in question such that it meets or even exceeds various quality parameters set earlier. Human Resource Management - A manager needs to take care of his team, encourage and motivate them and make sure the team moves in the right direction. Communication Management - The manager needs to prepare a communication plan and make sure that there is a healthy communication, both horizontally and vertically. Risk Management - Various risks involved in a project should be identified and a mitigation and contingency plan needs to be developed to ensure that the project is not derailed at any point. Procurement Management - Various materials needed during the project need to be procured and managed with the vendors and suppliers for successful completion of the project.

2) Cite at least 5 functions of the Project Manager. Planning means looking ahead and chalking out future courses of action to be followed. It is a preparatory step. It is a systematic activity which determines when, how and who is going to perform a specific job. Planning is a detailed programme regarding future courses of action. It is rightly said Well plan is half done. Therefore planning takes into consideration available & prospective human and physical resources of the organization so as to get effective coordination, contribution & perfect adjustment. It is the basic management function which includes formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources.

 Organizing is the function of management which follows planning. It is a function in which the synchronization and combination of human, physical and financial resources takes place. All the three resources are important to get results. Therefore, organizational function helps in achievement of results which in fact is important for the functioning of a concern. According to Chester Barnard, Organizing is a function by which the concern is able to define the role positions, the jobs related and the co- ordination between authority and responsibility. Hence, a manager always has to organize in order to get results. Staffing involves manning the organization structure through proper and effective selection, appraisal and development of the personnel to fill the roles assigned to the employers/workforce. This is also known as human resource management. Your employees are what give your company a competitive edge. Directing is said to be a process in which the managers instruct, guide and oversee the performance of the workers to achieve predetermined goals. Directing is said to be the heart of management process. Planning, organizing, staffing has got no importance if direction function does not take place. Directing initiates action and it is from here actual work starts. Direction is said to be consisting of human factors. In simple words, it can be described as providing guidance to workers is doing work. In field of management, direction is said to be all those activities which are designed to encourage the subordinates to work effectively and efficiently. According to Human, Directing consists of process or technique by which instruction can be issued and operations can be carried out as originally planned Therefore, Directing is the function of guiding, inspiring, overseeing and instructing people towards accomplishment of organizational goals. Controlling consists of verifying whether everything occurs in conformities with the plans adopted, instructions issued and principles established. Controlling ensures that there is effective and efficient utilization of organizational resources so as to achieve the planned goals. Controlling measures the deviation of actual performance from the standard performance, discovers the causes of such deviations and helps in taking corrective actions. 3) What are the contents of a Project Proposal? A. Project Profile Title of the Project specific name of the proposed project Proponents the persons or researchers who plan to conduct the project Implementing College/Unit specific unit or department who manage the project Project Site location of the project Project Duration span of time allotted for the compilation of the project Total Project Cost total amount needed to complete the project Brief Executive Summary of the Project general picture of the project proposal which consists 3 to 5 sentences.

B. Project Proposal Proper Introduction benefits derived from the project Rationale short background of the project Project Description discusses the vital information about the project such as nature, project site and beneficiaries Objectives long and short term goals of the project Significance importance of the project Project Components / Strategies of Implementation major activities of the project such as the methodology of implementation Implementing schedule list of activities that will be undertaken in chronological order with the corresponding time frame Estimated budget detailed breakdown of the budget for the project with the financial work plan 4) Give the 4 phases of a project from the making to the turnover stage? The project manager and project team have one shared goal: to carry out the work of the project for the purpose of meeting the projects objectives. Every project has beginnings, a middle period during which activities move the project toward completion, and an ending (either successful or unsuccessful). A standard project typically has the following four major phases (each with its own agenda of tasks and issues): initiation, planning, execution, and closure. Taken together, these phases represent the path a project takes from the beginning to its end and are generally referred to as the project life cycle.

I.

Initiation phase During the first of these phases, the initiation phase, the project objective or need is identified; this can be a business problem or opportunity. An appropriate response to the need is documented in a business case with recommended solution options. A feasibility study is conducted to investigate whether each option addresses the project objective and a final recommended solution

is determined. Issues of feasibility (can we do the project?) and justification (should we do the project?) are addressed. Once the recommended solution is approved, a project is initiated to deliver the approved solution and a project manager is appointed. The major deliverables and the participating work groups are identified and the project team begins to take shape. Approval is then sought by the project manager to move on the detailed planning phase. II. Planning phase The next phase, the planning phase, is where the project solution is further developed in as much detail as possible and you plan the steps necessary to meet the projects objective. In this step, the team identifies all of the work to be done. The projects tasks and resource requirements are identified, along with the strategy for producing them. This is also referred to as scope management. A project plan is created outlining the activities, tasks, dependencies and timeframes. The project manager coordinates the preparation of a project budget; by providing cost estimates for the labor, equipment and materials costs. The budget is used to monitor and control cost expenditures during project execution. Once the project team has identified the work, prepared the schedule and estimated the costs, the three fundamental components of the planning process are complete. This is an excellent time to identify and try to deal with anything that might pose a threat to the successful completion of the project. This is called risk management. In risk management, high-threat potential problems are identified along with the action that is to be taken on each high threat potential problem, either to reduce the probability that the problem will occur or to reduce the impact on the project if it does occur. This is also a good time to identify all project stakeholders, and to establish a communication plan describing the information needed and the delivery method to be used to keep the stakeholders informed. Finally, you will want to document a quality plan; providing quality targets, assurance, and control measures along with an acceptance plan; listing the criteria to be met to gain customer acceptance. At this point, the project would have been planned in detail and is ready to be executed. III. Execution phase During the third phase, the execution phase, the project plan is put into motion and performs the work of the project. It is important to maintain control and communicate as needed during execution. Progress is continuously monitored and appropriate adjustments are made and recorded as variances from the original plan. In any project a project manager will spend most of their time in this step. During project execution, people are carrying out the tasks and progress information is being reported through regular team meetings. The project manager uses this information to maintain control over the direction of the project by measuring the performance of the project activities comparing the results with the project plan and takes corrective action as needed. The first course of action should always be to bring the project back on course, i.e., to return it to the original plan. If that cannot happen, the team should record variations from the original plan and record and publish modifications to the plan. Throughout this step, project sponsors and other key stakeholders

should be kept informed of project status according to the agreed upon frequency and format. The plan should be updated and published on a regular basis. Status reports should always emphasize the anticipated end point in terms of cost, schedule and quality of deliverables. Each project deliverable produced should be reviewed for quality and measured against the acceptance criteria. Once all of the deliverables have been produced and the customer has accepted the final solution, the project is ready for closure. IV. Closure phase During the final closure, or closeout phase, the emphasis is on releasing the final deliverables to the customer, handing over project documentation to the business, terminating supplier contracts, releasing project resources and communicating the closure of the project to all stakeholders. The last remaining step is to conduct lessons learned studies; to examine what went well and what didnt. Through this type of analysis the wisdom of experience is transferred back to the project organization, which will help future project teams.

5) Come up with a sample project. Consider SMART.