1. You work for LL Company, which manufactures high-end optical scopes for hunti
ID: 435707 • Letter: 1
Question
1. You work for LL Company, which manufactures high-end optical scopes for hunting rifles. LL Company has been the market leader for the past 20 years and has decided to diversify by applying its technology to develop a top-quality binocular. What kind of project management structure would you recommend they use for this project? What information would you like to have to make this recommendation, and why? (10 points) 2. What are the relative advantages and disadvantages of the functional, matrix, and dedicated team approaches to managing projects? If you had to work for a company and you could magically convert it to one of the three team approaches, which team approach would you pick and why? Which team approach does a project manager prefer? Which team approach does a functional manager prefer? (10 points) 3. Is the culture of an organization created top-down or bottom-up? Do the founders of a company have a short term or long-term impact on the culture of an organization? What happens to new hires when they do not conform the culture of an organization? Are the new hires forced to comply or challenge the status quo? Pick an example of a large public company and a past or future leader to help illustrate. (10 points)Explanation / Answer
Since the organization is market leader throughout the previous 20 years. It demonstrates that the organization is having core competitive advantage in various factors like cost, administration, and quality or might be technology and so on. In the event that the organization needs to diversify its business by applying its technology to build up a best quality binocular then the accompanying project management structure will be the recommendation.
Parameter 1 - Future potentials of the project: There is presumably that organization is as of now a market leader yet while going into new product segment or market or to diversify the firm’s business in the same or new market. The organization must visualize the future scope potentials of the project in the market. The accompanying components will decide the scope of the project in the market:-
* Preliminary timetable
* Budget
* Infrastructure necessities
* Project planning
* Responsibility focuses
* Project advantage
* Project requirements
* Project suppositions and so forth
Parameter 2 > Project Timing: Time management is the key in each project. The achievement and effect of any project basically depends on the time element of the project for an example time taken to finish the project. a portion of the core components in regards to timeliness are given beneath:-
* Schedule Planning
* Resource Planning
* Activity based arranging
* Controlling capacity
Parameter 3 > Project Costing : Cost is a standout amongst the most competitive advantage which help the organization in enhancing the operational margins also in setting rivalary pricing strategy for the new product in the market. A portion of the key components of project costing are given beneath:-
* Cost associated with the market look into
* Amount of settled cost associated with the project
* Amount of VC(Variable Project) associated with the project
* changes in th cost spending plan
* Breakeven point
Parameter 4> Project Quality: Quality specifications will choose the fate of the project since it is connected with the final product which will deliberate market share of the newly product in the market. Time and cost elements are specifically related with the frequency of the quality of the project i.e. In the event that the things are under control amid the procedure like cost associated with the product is under control then the organization can give quality product at economical rates generally rise is costs of the product may offset the advantage of quality product. A portion of the components related with project quality are given underneath:-
> Analysis of quality desires
> Analysis of quality specifications
> Time and cost Involved to guarantee wanted quality
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