Project Planning Capability: Cause Analysis
The non-availability of required project planning capability is directly linked to the effectiveness of a company's management, specifically its entrepreneurial aspect.
Understanding Entrepreneurial Management's Role
Entrepreneurial management focuses on initiative, vision, innovation, and risk-taking. Entrepreneurs are typically responsible for identifying opportunities, setting the initial direction, and mobilizing resources. A deficit in this area often means that the foundational vision for the project is unclear, or the drive to establish necessary planning structures and capabilities is missing from the outset.
Analyzing Management Types
- Poor general management: While impacting overall efficiency, it's less specific to the *initiation* of planning capabilities.
- Poor professional management: This relates more to the execution and optimization phase, often assuming some initial planning is in place.
- Poor entrepreneurial management: This is the most direct cause, as entrepreneurs should establish the vision and initial framework, including the need for and structure of project planning. Without this drive, the capability may never be developed.
- Poor marketing management: Focuses on market strategy and sales, not directly on the internal capability for project planning.
Conclusion
Therefore, the lack of necessary project planning capability often originates from insufficient entrepreneurial drive and foresight in establishing such functions.
Important Questions from Project Management
Factors which govern the operating cost of an equipment are :
1. Purchase price of the equipment
2. Depreciation due to regular use
3. Cost of operation, maintenance and repairs
Which of the above statements are correct ?
In Emerson's efficiency plan of wage incentive system, the bonus is paid to-
Match List I with List II
LIST I
(Project Network concepts)
LIST II
(Underlying meaning)
A. Crashing an activity I. Length of the longest path through the project network B. Project Network II. It shows the time and cost when the activity is fully crashed C. Critical path III. It consists of a number of nodes and a number of arcs that connects two different nodes D. Crash point IV. Taking special (costly) measures to reduce the duration of an activity below its normal value Choose the correct answer from the options given below:
The following statements relate to project network. Choose the correct code for the statements being correct or incorrect.
Statement I: An activity cannot be represented by more than one arrow, but an arrow can represent one or more activities.
Statement II : The activities in a critical path can be preponed or postponed.
A public limited company has 9,00,000 shares outstanding at current market price of Rs. 130 per share. The company needs Rs. 2.25 crores to finance its proposed new project. The board of the company has decided to issue rights shares to raise the required money at Rs. 75 per share (as subscription price) to ensure that the rights issue is fully subscribed. How many rights are required to purchase a new share ?
