Week Twelve B.I.T

Week Twelve - Project Management

1. Explain the triple constraint and its importance in project management
The challenge of every project is to make it work and be successful within the Triple Constraint; the Triple Constraint being quality - scope, cost - resources and schedule - time. These three elements of a project are known to work in tandem with one another. Where one of these elements is restricted or extended, the other two elements will then also need to be either extended/increased in some way or restricted/reduced in some way. There is a balancing of the three elements that only when fully understood by the Project Manager, allows for the successful planning, resourcing and execution of a project.

2. Describe the two primary diagrams most frequently used in project planning

There are two graphs which are used in project planning, of thoes the most frequent one's have to be the PERT chart and the GANTT

PERT Chart

A PERT chart is a graphic representation of a project’s schedule, showing the sequence of tasks, which tasks can be performed
simultaneously, and the critical path of tasks that must be completed on time in order for the project to meet its completion deadline.  The
chart can be constructed with a variety of attributes, such as earliest and latest start dates for each task, earliest and latest finish dates for
each task, and slack time between tasks

A PERT chart also presents a graphic illustration of a project as a network diagram consisting of numbered nodes (either circles or rectangles) representing events, or milestones in the project linked by labelled vectors (directional lines) representing tasks in the project. The direction of the arrows on the lines indicates the sequence of tasks

GANTT Chart

A Gantt chart is a horizontal bar chart developed as a production control tool in 1917 by Henry L. Gantt, an American engineer and social scientist. Frequently used in project management, a Gantt chart provides a graphical illustration of a schedule that helps to plan, coordinate, and track specific tasks in a project. 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
3. Identify the three primary areas a project manager must focus on managing to ensure success

1. Managing change
2. Managing communication
3. Managing people

Motivating people is a myth. People cannot be motivated by others. They are motivated from within. Leaders can however, set up an environment in which people are able to motivate themselves.

To set up an environment that enables employees to be motivated, leaders need to understand what the motivational needs of individuals and groups are, this is just one factor a project manager must address when managing change.

Another main concept a project manager must grasp is managing communication.

Managing communication entails a dissemination of new communication directives connected with an organization, network, or communications technology. Aspects of communications management include developing communication ideologies, designing internal and external communications directions, and managing the flow of information, including online communication.

And lastly a manager must manage people;

As a managers most important job and most difficult job is to manage people. You must lead, motivate, inspire and encourage workers to help create a productive employees. 

4. Outline 2 reasons why projects fail and two reasons why projects suceed

2 reasons why projects fail?

A. Poor Planning

You’ve probably heard the saying “if you fail to plan, you plan to fail.” At the project/task levels, poor planning is one of the main reasons projects fail, fall behind schedule or miss their deadlines.

Without adequate planning, it is difficult to really understand what it will take to complete a project successfully. Lack of planning leads to inadequate preparation, unexpected problems, and poor execution

B. Scope Creep

It is common for IT projects today to be over budget or to not be implemented in the initial target timeframe.  Often the cause is attributed to scope creep.  Therefore, in the eyes of many in I.T. management, scope creep is a bad thing to be avoided.
And two reason's why projects succeed?

A. Change management

Change management entails thoughtful planning and sensitive implementation, and above all, consultation with, and involvement of, the people affected by the changes. If you force change on people normally problems arise. Change must be realistic, achievable and measurable. In business terms a Project managers ability to handle change effectively can lead to great success.  

B. Communication

Perfection of the skills of communication in most cases leads to success in projects. A project manager must allocate time and disburse time and information to thus create a environment in which the company can scope to see cost and revenue to generate further capital for the business. 

Week Ten B.I.T

 Week Ten - CRM & BI

1. What is your understanding of CRM?

Customer relationship management is a business strategy for managing a company's interactions with clients and sales prospects. CRM is beneficial to a business as it can increase customer loyalty and retention, which increases the profitability of an organisation. By appearing as friendlier businesses retain existing customers which is cheaper than finding new customers

2. Compare operational and analytical customer relationship management.

Operational CRM is short term operational data that assists in processing the day to day operations or systems that interact with customers. An example of an operational CRM system is Microsoft Dynamics CRM. It is designed to integrate with Microsoft programs.
Analytical CRM uses operational data to establish trends within customers (data mining). Analytical CRM also focuses on long term customer relationship trends. This enables a business to gain an idea of customer needs and whether they are being achieved.

3. Describe and differentiate the CRM technologies used by marketing departments and sales departments

Sales Department

The sales department works to increase the volume of sales and meet current sales quotas. The sales department is focused on the short term as they use their skills to sell todays customers.
Sales force automation (SFA) - a system that automatically tracks the steps in the sales process. Focuses on increasing customer satisfaction, building customer relationships and improving product sales by tracking all sales information.


Marketing Department

List generators - compiles customer information from a variety of sources. E.g. questionnaires, website visits, etc. Once information is gathered a company can sort and filter it. A list generator enables a business to make strategic decisions.
Compaign management systems - guides users through marketing campaigns performing tasks e.g. scheduling. Campaign management systems incorporate the cost associated with campaigns, cost of inventory and the amount of customer sales.Cross selling and up selling - Cross selling offers an additional product or service. E.g. a matching tie for a shirt. Up selling increases the value of a sale. E.g. upsizing a meal at McDonalds

4. How could a sales department use operational CRM technologies?

Operational CRM technologies assist in the day to day operations of a business. Campaign management for example provides information upon scheduling and systems can be established for upselling and cross selling to maximises profits.

5. Describe business intelligence and its value to businesses

Business intelligence is data that can be gained from technology which can be used for strategic decision making by analysing the data to find patterns and trends. Business intelligence is important as it enables sound business decisions necessary for the business' survival.

6. Explain the problem associated with business intelligence. Describe the solution to this business problem

The biggest problem with business intelligence is the large amount of data that can be gathered. Data, however, is useless until it is analysed and becomes information. The sheer amount of data makes this a difficult process. Businesses must ensure that they have the adequate resources and tools to interrupt data. 

7. What are two possible outcomes a company could get from using data mining?

Data mining is the application of statistical techniques to find patterns and relationships among data and to classify and predict. Data mining may increase profits as it reveals trends that can be targeted by future marketing campaigns. Data mining also highlights trends which may indicate where the company can best allocate its resources int he future.

Week Nine B.I.T

Week Nine - Operations Management and Supply Chain

1. Define the term operations management

Operations Management is the management of systems or processes that convert or transform resources into goods and services. It aims to reduce the resources needed whilst meeting customer requirements. Operations management is responsible for the core processes used to manufacture goods and produce services.

2. Explain operations management’s role in business

The role of operations management within a business is to ensure that the business is efficient, using as little resources as possible, and effective, meeting customer requirements. Operations management is chiefly concerned with managing the process of converting inputs into outputs.


Operations management functions in interrelated activities such as: forecasting, capacity planning, scheduling, managing inventory, assuring quality, motivating and training employees and locating facilities.

OPERATIONS MANAGER VIDEO:


3. Describe the correlation between operations management and information technology
IT can influnce operations management in areas such as: productivity, costs, flexibility, quality and customer satisfaction. IT provides information which is crucial for managers to make well informed decisions. IT can provide a number of different information forms such as the what-if analysis, sensitivity analysis and drill downs. They enable the correct business decision to be made in the circumstances
4. Explain supply chain management and its role in a business
Supply chain management is the management of the information flows between the various stages in a supply chain to maximise the total effectiveness of the supply chain and increase profitability. Supply chain management is vital in business as it enables firms to keep track of their inventory.

SUPPLY CHAIN MANAGEMENT:

5. List and describe the five components of a typical supply chain
Supplier: provides goods/services to a company to be used in the manufacturing process.
Manufacturer: makes products or services for businesses.
Distributor: a person or company that delivers the goods or services to the retailer.
Retailer: the shop where the product or service is sold.
Customer: the person who purchases the good or service from a retailer.
6. Define the relationship between information technology and the supply chain.Information Technology improves the forecast and operations of the supply chain.
Information technology provides greater visibility over varying levels of the supply chain as goods can easily be located.
Information enables a faster response to consumer demands within the supply chain. This can create a competitive edge for a company differentiating itself by its fast delivery of goods.

Week Eight B.I.T

Week Eight - Networks & Wireless

 1. Explain the business benefits of using wireless technology.

Benefits include:
- Business 24/7 - 365 days a year
- Increased productivity
- Access to information anywhere and anytime
- Increased speed- added convenience 

2. Describe the business benefits associated with VoIP

The biggest benefit VoIP provides to business is that VoIP calls over a company’s intranet do not receive charges from a telecommunication company as they run on a private network. Costs are also reduced when calls are made over the internet, especially international calls which cover large distances. Skype is an example VoIP. It enables telephone and video calls over the internet.

3. Compare LANs and WANs

A local area network (LAN) connects computers within a small geographical region such as a business’ premises. LANs connect via Ethernet connections, routers and the internet to share data and internet connections. Firewalls are used to prevent unauthorised access.


A wide area network (WAN) varies from a LAN as it connects computers over a wide geographical region. LANs rely upon cabled connection whilst WAN’s rely upon the internet and wireless forms of communication such as satellites to connect computers together. WANs may be implemented across multinational corporations to enable them to share information across offices.

4. Describe RFID and how it can be used to help make a supply chain more effective.

Radio Frequency Identification is a method of tracking inventory. Small tags are used which receive and transmit radio signals to identify what the inventory is and where it is. Passive RFID tags have no internal power flow. Active RFID tags operate upon the same basis but have an active power flow.RFID is a low cost method of increasing the efficiency of the supply chain as cargo can easily be identified and located. This technology also enables downstream users, such as customers, to track where a product is located.

5. Identify the advantages and disadvantage of deploying mobile technology

Mobile technology is any form of technology that can travel with its user. When connected to the internet mobile technology can provide real time information. For example, the iPhone.
Advantages:The mobility of the technology means that it is convenient. An employee can access important information in real time at any location.Mobile technology is relatively cheap.The processors of mobile technology are powerful enough to provide real time information.The portability of mobile devices enables a broad reach as users can be reached instantly.

Disadvantages:Mobile technology is convenient its processing power is limited and a pc may be needed to run complex programs.Mobile devices are insecure. There is a threat of Bluetooth hacking which could cause significant business and personal information to be lost.