My Report 2

5.
Demand Determinants:
 Understand the factors influencing demand, including price, consumer income,
preferences, and external economic conditions.
6. Market Entry Barriers:
 Assess any obstacles or challenges that may hinder entering or succeeding in
the market.
7. Regulatory Environment:
 Consider regulatory factors that may impact the industry or product.
8. Consumer Behavior:
 Study how consumers make purchasing decisions and what influences their
choices.
9. SWOT Analysis:
 Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) to
understand the internal and external factors affecting the market.
10.Forecasting:
 Use forecasting techniques to estimate future demand based on historical
data and market trends.
B. Advantages and Disadvantages of PERT Charts:
Advantages:
1. Visualization:
 PERT charts provide a visual representation of the project's activities and their
interdependencies, making it easier to understand the project timeline.
2. Critical Path Identification:
 PERT helps identify the critical path—the sequence of activities that must be
completed on time for the project to finish as planned.
3. Resource Allocation:
 It allows for efficient allocation of resources by highlighting activities that are
crucial for project completion.
4. Time Estimation:
 PERT incorporates time estimates for each activity, aiding in realistic project
planning.
5. Risk Management:
 The inclusion of optimistic, pessimistic, and most likely time estimates helps in
risk analysis and management.
Disadvantages:
1. Complexity:
 PERT charts can become complex and challenging to manage, especially for
large projects with numerous activities.
2. Time and Effort:
 Creating and maintaining PERT charts require time and effort, and constant
updates may be necessary as the project progresses.
3. Subjectivity in Time Estimates:
 Time estimates involve subjectivity, and inaccuracies in estimates can affect
the overall project timeline.
4. Limited Focus on Resources:
PERT primarily focuses on time and may not provide detailed insights into
resource constraints or costs.
5. Overemphasis on Critical Path:
 Overemphasis on the critical path may lead to neglecting non-critical activities
that can still impact the project's success.
Q.3 Answer the following questions.
A).What are the project environment analysis advantages? (07)
B).Explain about Building Project Team. (08)
Ans……..
A. Project Environment Analysis Advantages:
Project environment analysis involves assessing the external factors that can impact a
project. Here are the advantages of conducting project environment analysis:
1. Risk Identification:
 Analysis helps in identifying potential risks and uncertainties that may affect
the project.
2. Strategic Planning:
 It allows for strategic planning by considering external factors that could
influence project success.
3. Resource Allocation:
 Understanding the environment helps in efficient allocation of resources based
on external conditions.
4. Opportunity Recognition:
 Analysis helps in recognizing opportunities that the project can leverage to
achieve its objectives.
5. Stakeholder Management:
 Understanding the external environment aids in effective stakeholder
management and communication.
6. Adaptability:
 Enables the project team to adapt to changing external conditions and
minimize the impact of uncertainties.
7. Enhanced Decision-Making:
 Informed decision-making based on a thorough understanding of the project's
external context.
B. Building Project Team:
Building a project team is a critical aspect of project management. Here's an overview of

the process:
1. Define Roles and Responsibilities:

 Clearly define the roles and responsibilities of each team member based on
their skills and expertise.
2. Recruitment and Selection:
 Recruit individuals with the necessary skills and qualifications to fulfill the
defined roles.
3. Team Formation:
 Form the team by bringing together individuals with diverse skills and
backgrounds to create a well-rounded team.
4. Communication:
 Establish effective communication channels within the team to ensure clear
information flow.
5. Training and Development:
 Provide necessary training and development opportunities to enhance the
team's skills and knowledge.
6. Motivation:
 Motivate team members by recognizing and rewarding their contributions,
fostering a positive team environment.
7. Conflict Resolution:
 Implement strategies for conflict resolution to address any interpersonal
issues that may arise within the team.
8. Empowerment:
 Empower team members by giving them autonomy and the authority to make
decisions within their areas of responsibility.
9. Team Dynamics:
 Understand and manage team dynamics to ensure a cohesive and
collaborative working environment.
10.Performance Monitoring:
 Monitor the performance of individual team members and the team as a
whole, providing feedback and support as needed.
Building a strong project team is essential for project success, as a well-functioning team
contributes to effective project execution and goal achievement.
Q.4 Attempt any two questions. (Each of 7.5 mark) (15)
1. Explain the Technique of Environmental Scanning.

2. Explain Project Performance Reports.
3. “Often secondary information is not adequate for market and demand analysis”. Comment.
4. What factors influence the project ideas? Discuss their implications.
1. Technique of Environmental Scanning:
 Environmental scanning is the systematic process of gathering, analyzing, and

interpreting information about the external environment to identify opportunities,
threats, and trends that may impact an organization or project. The technique
involves the following steps:
a. Identification of Key Factors:
 Identify the critical factors or elements in the external environment that could
affect the project.
b. Data Collection:
 Gather relevant information from various sources, including industry reports,
market studies, government publications, and news articles.
c. Analysis and Interpretation:
 Analyze the collected data to understand the implications of external factors
on the project. Interpret trends and assess potential risks and opportunities.
d. Monitoring:
 Continuously monitor the external environment for changes or developments
that may impact the project.
e. Reporting and Feedback:
 Provide regular reports and feedback to project stakeholders based on the
findings of environmental scanning.
2. Project Performance Reports:
 Project performance reports are documents that provide a comprehensive overview

of a project's progress, status, and achievements. These reports typically include:
a. Key Performance Indicators (KPIs):
 Metrics and indicators that measure various aspects of project performance,
such as budget adherence, timeline adherence, and quality of deliverables.
b. Project Status:
 An update on the current status of the project, including completed
milestones, ongoing activities, and upcoming tasks.
c. Budgetary Information:
 Details on project expenditures, budget allocations, and any financial
variances.
d. Risks and Issues:
 Identification and assessment of risks and issues that may impact the project,
along with mitigation strategies.
e. Resource Utilization:
 Information on how project resources, including human resources and
equipment, are being utilized.
f. Achievements and Milestones:
 Highlights of project achievements and the completion of significant
milestones.
g. Recommendations:
 Recommendations for adjustments, improvements, or changes in project
strategy or execution based on the findings.
3. Comment on "Often secondary information is not adequate for market and

demand analysis":
 Secondary information, which is data collected from existing sources, may not
always be sufficient for market and demand analysis due to the following reasons:
a. Limited Relevance:
 Secondary information may not address the specific needs or context of a
particular project, industry, or market.
b. Outdated Data:
 Information from secondary sources may become outdated, especially in
rapidly changing markets, making it less reliable for current analysis.
c. Lack of Specificity:
 Secondary information may lack the specificity required for in-depth market
analysis, as it is often generalized and broad.
d. Data Accuracy Concerns:
 The accuracy of secondary information may be questionable, and there could
be variations in data quality across different sources.
e. Unavailability of Customized Data:
 For unique or specialized projects, customized or specific data points may not
be readily available in secondary sources.
 While secondary information can provide a foundational understanding,
supplementing it with primary research and firsthand data collection is often
necessary for a more accurate and comprehensive market and demand analysis.
4. Factors Influencing Project Ideas and Their Implications:
 Factors influencing project ideas include:

a. Market Needs:
 Projects should address genuine market needs to be successful. Implication:
Ensure thorough market research to understand and validate the demand.
b. Technological Advancements:
 Leveraging new technologies can lead to innovative and competitive projects.
Implication: Stay updated on technological trends and advancements.
c. Regulatory Environment:
 Projects must align with legal and regulatory requirements. Implication:
Conduct a thorough regulatory analysis before initiating the project.
d. Internal Capabilities:
 The organization's internal capabilities and resources influence the feasibility
of project ideas. Implication: Assess internal strengths and limitations.
e. Economic Conditions:
 Economic factors, such as inflation and economic stability, impact project
viability. Implication: Consider economic conditions during project planning.
f. Social Trends:
 Projects reflecting current social trends may gain wider acceptance.
Implication: Stay attuned to societal changes and preferences.
g. Environmental Sustainability:
 Projects aligned with environmental sustainability are becoming increasingly
important. Implication: Consider the environmental impact of the project.
h. Competitive Landscape:
 Analyzing the competitive landscape helps identify unique project
opportunities. Implication: Conduct a competitive analysis to identify market
gaps.
i. Customer Feedback:
 Customer feedback provides insights into potential improvements and
modifications. Implication: Prioritize customer feedback and incorporate it into
project development.
 Understanding these factors and their implications is crucial for generating viable
and successful project ideas.

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5.

B. Advantages and Disadvantages of PERT Charts:

B. Building Project Team:

Building a project team is a critical aspect of project management. Here's an overview of

1. Define Roles and Responsibilities:

Q.4 Attempt any two questions. (Each of 7.5 mark) (15)

1. Explain the Technique of Environmental Scanning.

1. Technique of Environmental Scanning:

 Environmental scanning is the systematic process of gathering, analyzing, and

2. Project Performance Reports:

 Project performance reports are documents that provide a comprehensive overview

3. Comment on "Often secondary information is not adequate for market and

4. Factors Influencing Project Ideas and Their Implications:

 Factors influencing project ideas include:

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