1.
Project management has become a very popular and effective business tool due to below
reasons:

Management of customers: it give a speedy and an effective resolution to issues that
might arise

The timeline of the project is maintained: all the schedules, tasks are tracked and this
help to solve any unexpected anomalies

Resources are managed better: Where individual with right skills are selected which
ensure the project is successful completed

Business objective and goals are met: Project management can result to customer
satisfaction, targeted margin achieved and can result in attraction of new customers

2.
Length of product life cycles is shortening –new products are produced rapidly
What do you see as the primary challenges to introducing a project management philosophy to
most organizations? That is, why is it difficult to shift to a project-based approach in many
companies
Implementing a new approach such as project management philosophy can be met with resistance
to change within the organization. Especially when employees have to be trained and learn how to
use the philosophy in their current position.
The following are some of the adverse difficulties employees might encounter
1.
When there Unclear Objectives when objectives are not obviously recognized
2. Extension Changes
3.
What are the advantages and disadvantages of using project management?
a) Following advantage of using project management:
 Innovative, produce new ideas and new products or services in the market.
 Higher level of customer satisfaction
 Geared towards accomplishing a Specific goals
b) Following disadvantage of using project management:
 Inaccurate cost estimate can cause project failure because of lack of resources


Low success rate in some industries
Requires heavy commitment from the staffs
4.
What key characteristics do all projects possess?
 End when objective are successfully reached
 Innovative ideas and effective progress can be generated from project posses
 limited resources and time constraints
 It is a temporary operation with a defined span
5.
What are some of the key organizational elements that can affect the development and
maintenance of a supportive organizational culture? As a consultant, what advice would you
give to a functional organization that was seeking to move from an old, traditional “silo”
structure and adversarial culture, where the various departments actively resisted helping one
another, to one that encourages project thinking and cross-functional cooperation?
I.
Department interaction
II.
Employee commitment to goals
III.
Project planning
IV.
Performance evaluation
Advice is to establish the following
a. Reward and punish system
b. Decision making policies
c. Chain of command
d. Ways to motivate employees
6.
As a future CEO, what financial model makes the most sense for you to gauge the
performance of your projects? How is the one you choose superior to other models? Are
there any concerns with the model that you chose?(look at the question)
As a future CEO I will choose Top down Approach as the financial model to Bottom up
Approach due to the following:
Advantages for Top down Approach is It Focuses on understanding the competition and the
market size. It also Focus on Value Proposition but the concern with this model is that its
Market Share Estimation might take 3-5 years and also it might need right positioning with
key players and channel partnership at each stage.