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Janne tu ya Jaane na ____

Janne tu ya Jaane na ____. Film Making = Discovery of Drug?. WELCOME To ALL OF YOU – Project Management. RAHUL JAIN (Striving for excellence) BCOM (H), MBA, FCS. Project - Meaning.

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Janne tu ya Jaane na ____

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  1. Janne tu ya Jaane na ____ Film Making = Discovery of Drug?

  2. WELCOME To ALL OF YOU – Project Management RAHUL JAIN (Striving for excellence) BCOM (H), MBA, FCS

  3. Project - Meaning Project is an activity which is unique and temporary and helps in implementing the strategy of the organization.

  4. Project Management Project management is the art and science of directing a team of people to accomplish a discrete goal. Project Management deals with managing unique activities in a time bound schedule.

  5. Project Projects are used today as a way of achieving a variety of outcomes- in local or international locations for new constructions, new product development product improvement, process design, process improvement, utility installation, theory and technology development, and many more. Bringing a project to a successful conclusion requires the integration of numerous management functions like controlling, directing, team building, communication and others. Examples : • Developing a new product or service • Constructing a building • Implementing a new business procedure

  6. Aim of the Module The module is designed to facilitate your broad understanding related to Project Management concepts, principles, issues, and stages. This module will also familiarize you with the industry practice/ requirements to be a project manager and also inculcate the abilities to manage a project and work with a team.

  7. Spirit of Innovation: Converting Idea into Success • Being Different • Having Fun • Vision creates Opportunities, Execution Creates Magic

  8. Being Different • Can We change the status quo ? • Can We take the Initiative ? • Can We leverage on our strengths ?

  9. Some Examples

  10. Having Fun • Can We be creative ? • Can We do the same thing in better manner ? • Can We enjoy the process ?

  11. If you win a 50 crore lottery. What kind of work would you be doing?

  12. Our Strategy for achieving these Objectives? • Concepts, Cases and Class Discussion • Punctuality, Participation and Preparation (Its compulsory to bring your own calculators, Pen, Stationary, Registers, Prescribed Book, Printouts of the Intranet documents- Otherwise disciplinary action will be taken) • Judgment challenge • Learning to communicate ideas • Learning from each other • Learning through discovery

  13. What is “Good” Participation? • Quality, not quantity. • Analyzing and discussing course material. • Questioning the analysis of others. • Seeking clarification. • Summarizing / synthesizing. • Adherence to guidelines for professionalconduct.

  14. Some Important rules • Switch off your Mobiles • Attendance rules will be strictly applied • Non completion of Assignment will lead to strict disciplinary measures • Students can gather additional bonus points by being a “Performer” 4 times in the whole course. • Students falling in the “Improvement category” would be penalized.

  15. Project and Routine Activity: Differences • Temporary • Unique

  16. Project and organization - Similarities • Performed by people • Constrained by resources • Planned executed and controlled

  17. Comparison of Routine Work with Projects Routine, Repetitive Work Taking class notes Daily entering sales receipts into the accounting ledger Responding to a supply-chain request Practicing scales on the piano Routine manufacture of an Apple iPod Attaching tags on a manufactured product Projects Writing a term paper Setting up a sales kiosk for a professional accounting meeting Developing a supply-chain information system Writing a new piano piece Designing an iPod that is approximately 2 X 4 inches, interfaces with PC, and stores 10,000 songs Wire-tag projects for GE and Wal-Mart TABLE 1.1

  18. Integrated Management of Projects

  19. Project Life Cycle FIGURE 1.1

  20. The Challenge of Project Management • The Project Manager • Manages temporary, non-repetitive activities and frequently acts independently of the formal organization. • Marshals resources for the project. • Is linked directly to the customer interface. • Provides direction, coordination, and integration to the project team. • Is responsible for performance and success of the project. • Must induce the right people at the right time to address the right issues and make the right decisions.

  21. The Importance of Project Management • Factors leading to the increased use of project management: • Compression of the product life cycle • Global competition • Knowledge explosion • Corporate downsizing • Increased customer focus • Rapid development of Third World and closed economies • Small projects that represent big problems

  22. Why Project Managers Need to Understand the Strategic Management Process • Changes in the organization’s mission and strategy • Project managers must respond to changes with appropriate decisions about future projects and adjustments to current projects. • Project managers who understand their organization’s strategy can become effective advocates of projects aligned with the firm’s mission.

  23. The Strategic Management Process: An Overview • Strategic Management • Provides the theme and focus of the future direction for the firm. • Responding to changes in the external environment—environmental scanning • Allocating scarce resources of the firm to improve its competitive position—internal responses to new action programs • Requires strong links among mission, goals, objectives, strategy, and implementation.

  24. Strategic Management Process (cont’d) • Four of Activities of the Strategic Management Process • Review and define the organizational mission. • Set long-range goals and objectives. • Analyze and formulate strategies to reach objectives. • Implement strategies through projects

  25. Strategic Management Process FIGURE 2.1

  26. Characteristics of Objectives SSpecific Be specific in targeting an objective MMeasurable Establish a measurable indicator(s) of progress AAssignable Make the objective assignable to one person for completion RRealistic State what can realistically be done with available resources TTime related

  27. Financial Goals of Project • Profit maximization (profit after tax) • Shareholder’s Wealth Maximization

  28. Profit Maximization • Maximizing the Rupee Income of Firm • Resources are efficiently utilized • Appropriate measure of firm performance • Serves interest of society also

  29. Objections to Profit Maximization • It is Vague • It Ignores the Timing of Returns • It Ignores Risk • Assumes Perfect Competition • In new business environment profit maximization is regarded as • Unrealistic • Difficult • Inappropriate • Immoral.

  30. Shareholders’ Wealth Maximization • Maximizes the net present value of a course of action to shareholders. • Accounts for the timing and risk of the expected benefits. • Benefits are measured in terms of cash flows. • Fundamental objective—maximize the market value of the firm’s shares.

  31. Terminal Cash flow Initial outlay . . . 0 1 2 3 4 5 6 n Annual Cash Flows Financials/Costing Of Project

  32. Annual Cash Flow Year1 Sales 7,035,600 COGS 5,800,000 Other expenses 612,960 Depreciation. 120,000 Total. Op. costs 6,532,960 EBIT 502,640 Non Op. Expense 80,000 EBT 422,640 Taxes (40%) 169,056 Net income 253,584 Add Depreciation 120000 Cash Flow After Taxes 373584

  33. Project Costing Processes • Resource planning: determining what resources and quantities of them should be used • Cost estimating: developing an estimate of the costs and resources needed to complete a project • Cost budgeting: allocating the overall cost estimate to individual work items to establish a baseline for measuring performance • Cost control: controlling changes to the project budget

  34. Idea Generation • http://www.knowthis.com/market-research/idea-generation-and-trends-research.htm • http://money.cnn.com/popups/2006/biz2/crowdcasting/index.html

  35. Class Assignment – I Individual Assignment- Maintain a file: • One page key learnings from Videos, Readings & Class • Write the Vision & Mission statement of your life ( Both professional and personal) & Short term professional goals. ( In A4 sheet) 3) Two Business Ideas with one para justification for each idea. Bold : Show it in the IInd Class to have feedback Refer : www.finishingschool.pbworks.com, rahulkjain16@gmail.com, 9811228852

  36. Viva – Vth Class - 3rd September • Key learnings of first three classes & Vision Assignment • Make a file -27th

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