ML0018-Project Management in Retail

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ASSIGNMENT

DRIVE	SUMMER 2015
PROGRAM	MBADS (SEM 4/SEM 6) MBAFLEX/ MBA (SEM 4) PGDROMN (SEM 2)
SUBJECT CODE & NAME	ML0018-Project Management in Retail
BK ID	B 1844
CREDIT & MARKS	4 Credits, 60 marks

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q. 1. What are the importance and difficulties associated with project management?

Answer:Project management is the process and activity of planning, organizing, motivating, and controlling resources, procedures and protocols to achieve specific goals in scientific or daily problems. A project is a temporary endeavor designed to produce a unique product, service or result with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables) undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value. The temporary nature of

Q. 2. Write a note on organizational system for processing retail project proposals.

Answer: An organizational structure defines how activities such as task allocation, coordination and supervision are directed towards the achievement of organizational aims.[1] It can also be considered as the viewing glass or perspective through which individuals see their organization and its environment. An organization can be structured in many different ways, depending on their objectives. The structure of an organization will determine the modes in which it operates and performs. Organizational structure allows the

Q. 3. Discuss the financial compensation and rewards in relation to project human resource management.

Answer:Financial compensation refers to the act of providing a person with money or other things of economic value in exchange for their goods, labor, or to provide for the costs of injuries that they have incurred.

Kinds of financial compensation include:

Q. 4. Explain the idea of retail project formulation for franchise business.

Answer: For the franchiser, the franchise is an alternative to building "chain stores" to distribute goods that avoids the investments and liability of a chain. The franchisor's success depends on the success of the franchisees.Franchising is the practice of the right to use a firm's business model and brand for a prescribed period of time. The word "franchise" is of Anglo-French derivation—from franc, meaning free—and is used both as a noun and as a (transitive) verb. For the franchiser, the franchise is an alternative to building "chain stores"

Q. 5. “New ideas are fuel to any organization process”. Explain the Judgmental process in the light of the above statement.

Answer:Organizing, like planning, must be a carefully worked out and applied process. This process involves determining what work is needed to accomplish the goal, assigning those tasks to individuals, and arranging those individuals in a decision‐making framework (organizational structure). The end result of the organizing process is an organization — a whole consisting of unified parts acting in harmony to execute tasks to achieve goals, both effectively and efficiently.

Q. 6. Write short notes on:

a) Gantt Chart: A Gantt chart is a type of bar chart, adapted by Karol Adamiecki in 1896, and independently by Henry Gantt in the 1910s, that illustrates a project schedule. Gantt charts illustrate the start and finish dates of the terminal elements and summary elements of a project. Terminal elements and summary elements comprise the work breakdown structure of the project. Modern Gantt charts also show the

b) Fishbone Diagrams: A fishbone diagram, also called a cause and effect diagram or Ishikawa diagram, is a visualization tool for categorizing the potential causes of a problem in order to identify its root causes.

Dr. Kaoru Ishikawa, a Japanese quality control expert, is credited with inventing the fishbone diagram to help employees avoid solutions that merely address the symptoms of a much larger problem.

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