HW9-Answers
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Texas Tech University *
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Course
3329
Subject
Industrial Engineering
Date
Dec 6, 2023
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3
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IE 3329 Homework 9 Modern Developments in Project Management Question 1: Explain the five levels of the Project Management Maturity Model (PMMM) as discussed in the lecture. The Project Management Maturity Model (PMMM) has five levels: Level 1—Common Language: Acknowledges the importance of project management basics and shared terminology. Level 2—Common Processes: Standardizes project processes across the organization. Level 3—Singular Methodology: Integrates project management into a singular, company-wide methodology. Level 4—Benchmarking: Emphasizes continuous process improvement through benchmarking. Level 5—Continuous Improvement: Uses benchmarking insights to continually enhance the singular methodology. Question 2:
Discuss the importance of continuous improvement in project management, as emphasized in the lecture. How does achieving a higher level of project management maturity contribute to a competitive advantage for an organization? Continuous improvement in project management is essential for maintaining a competitive advantage by refining processes, meeting stakeholder expectations, and adapting to changing market conditions. It's necessary because competitors will try to erode your advantage, requiring organizations to stay adaptable.
IE 3329 Homework 9 Question 3:
Why is it crucial for project managers to be cautious with scope changes, particularly when contractors work on different parts of a project at the same time? Provide examples of how changes by an upstream contractor can impact downstream contractors. (Answer should include references to lecture slides 6 and 14 in lecture Week 11 Part3) Project managers must exercise caution with scope changes, especially when contractors work on different parts of a project simultaneously. Changes by an upstream contractor can have a significant impact on downstream contractors. For example, if an upstream contractor decides to use different or better materials, it can disrupt the plans of downstream contractors. This can lead to major changes in the project's scope, causing delays and extra costs. The unintended consequences of such scope changes can result in project disasters. Question 4:
Discuss the factors that project managers should consider when evaluating a scope change's validity. How do customer needs, market needs, and product life cycle impact the decision to approve or reject a scope change? (Answer should reference slide 9 in lecture Week 11 Part3) When evaluating the validity of a scope change, project managers should consider several key factors, as outlined in slide 9. These factors include:
Customer Needs and Added Value: Project managers should assess how the scope change aligns with customer requirements and adds value to the product or project.
Market Needs: It's important to consider the impact of the scope change on the market, including the time required to implement it, the payback period, return on investment (ROI), and whether the final product price remains competitive.
IE 3329 Homework 9
Product Life Cycle: Project managers should evaluate how the scope change affects the overall product life cycle, including the introduction, growth, maturity, and decline phases.
Competition: An analysis of whether competitors could easily replicate or imitate the scope change should be conducted to determine its potential benefits.
Product Liability and Image: The scope change's implications for product liability, safety, and the company's image and reputation should also be examined.
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