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6. Explain the various phases in project management life cycle.Explain the necessity and objectives of SCM.
This is the initial phase of any project. In this phase information is collectedfrom the customer pertaining to the project and the requirements areanalyzed. The entire project has to be planned and it should be done in astrategic manner. The project manager conducts the analysis of the problemand submits a detailed report to the top project justification, details on whatthe problem is a method of solving the problem, list of the objectives to beachieved, project budget and the success rate of completing the project.The report must also contain information and the project feasibility, and therisks involved in the project. Project management life cycle is the integratedpart of management. It is attach with project responsibility or failure of aproject.The important tasks of this phase are as follows:Specification Requirements Analysis (SRA): It has to be conducted todetermine the essential requirements of a project in order to achieve thetarget.
Feasibility study:
To analyze whether the project is technically,economically and practically feasible to be undertaken.Trade off analysis: To understand and examine the various alternatives whichcould be considered.
To estimate the project cost, effort requires for the project andfunctionality of various process in the project.
System design:
Choose a general design that can fusil the requirements.
Project evolution:
Evaluate the project in terms of expected profit, cost andrisks involved marketing phase. A project proposal is prepared by a group of people including the project manager. This proposal has to contain thestrategiesadopted to market the product to the customers.
Design phase:
This phase involves the study of inputs and outputs of thevarious project stages.

Execution phase:
In this phase the project manager and the teamsmembers work on the project objectives as per the plan. At every stageduring the execution reports are prepared.
: Inspecting, Testing and Delivery phase during this phase. Theproject team works under the guidance of the project manager. The projectmanager has to ensure that the team working under his, implements theproject designs accurately, the project manager has to ensure ways of managing the customer, perform quality control work.Closure and post completion analysis phase upon satisfactory completion anddelivery of the intended product or service the staff performance has to beevaluated. Document the lessons from the project. Prepare the reports onproject feedback analysis followed by the project execution report.The phase which involve in the above are:The preparation stage involves the preparation and approval of projectoutline, project plan and project budget.The next stage involves selecting and briefing the project team about theproposals followed by discussions on the roles and responsibility of theproject member and the organization.
The project management life cycle:
A Life cycle of a project consists of the following:

Understanding the scope of the project

Establishing objectives of the project

Formulating and planning various activities

Project execution and Monitor and control the project resources.Risk Management:- Risk is defined in ISO 31000 as the effect of uncertaintyon objectives (whether positive or negative). Risk management can thereforebe considered the identification, assessment, and prioritization of risksfollowed by coordinated and economical application of resources to minimize,monitor, and control the probability and/or impact of unfortunate events or tomaximize the realization of opportunities. Risks can come from uncertainty infinancial markets, project failures, legal liabilities, credit risk, accidents,natural causes and disasters as well as deliberate attacks from an adversary.Several risk management standards have been developed including theProject Management Institute, the National Institute of Science andTechnology, actuarial societies, and ISO standards. Methods, definitions andgoals vary widely according to whether the risk management method is inthe context of project management, security, engineering, industrialprocesses, financial portfolios, actuarial assessments, or public health andsafety.The strategies to manage risk include transferring the risk to another party,avoiding the risk, reducing the negative effect of the risk, and acceptingsome or all of the consequences of a particular risk.

Certain aspects of many of the risk management standards have comeunder criticism for having no measurable improvement on risk even thoughthe confidence in estimates and decisions increase.
Necessity and objectives of SCM:-
SCM is the abbreviation of supply chain Management. It is considered bymany express worldwide as the ultimate solution towards efficient enterprisemanagement.SCM is required by and enterprise as a tow to enhance managementeffectiveness with a following organizational objective:
Reduction of inventory:-
Enactment in functional effectiveness of existingsystems like ERP, Accounting. Software and Documentation like financialreports statements ISO 9000 Documents etc.Enhancement of participation level and empowerment level:- Effectiveintegration of multiple systems like ERP, communication systems,documentation system and secure, Design R&D systems etc.
Better utilization of resources
- men, material, equipment and money.Optimization of money flow cycle within the organization as well as to andfrom external agencies.Enhancement of value of products, operations and services andconsequently, enhancements of profitability.Enhancement of satisfaction level of customer and clients, supportinginstitutions, statutory controlagencies, supporting institutions, statutorycontrol agencies, suppliers and vendors, employees and executives .Enhancement of flexibility in the organization to help in easy implementationof schemes involving modernization, expansion and divestment, merges andacquisitions.Enhancement of coverage and accuracy of management informationsystems. With the objectives of SCM its implementation are required.Implementation is in the form of various functional blocks of an organizationinterpenetrated through which a smooth flow of the product development ispossible.A relatively new SCM option involves web based software with a browserinterface. Several electronic marketplaces for buying and selling goods andmaterials.
Steps involved in the implementation of SCM:-
There is many steps which involved in SCM implementation are- BusinessProcess, sales and marketing. Logistics, costing, demand planning, trade- off

analysis, environmental requirement, process stability, integrated supply,supplier management, product design, suppliers, customers, materialspecifications, etc.
Some important aspect of SCM-
The level of competition existing in the market and the impact of competitiveforces on the product development. Designing and working on a strategiclogic for better growth through value invention. Working out new value curvein the product development along with necessary break point. Using it toanalyze markets and the economies in product design. Time, customer,quality of product and the concept of survival of fittest.
Steps of SCM principals:
Group customer by need: Effective SCM groups, customer by tie tinct servicemeets those particular segment.Customize the logistics networks: In designing their logistics network,companies need to focus on the service requirement and profit potential of the customer segments identified. Listen to signals of market demand andplan accordingly- sales and operations planners must monitor the entiresupply chain to detect early warning signals of changing customer demandand needs.
Differentiate the product closer to the customer:
companies today nolonger can afford to stock pile inventory to compensate for possibleforecasting errors, instead, they need to postpone product differentiation inthe manufacturing. Process closer to actual customer demand.
Strategically manage the source of supply:
by working closely with theirkey suppliers to reduce the overall casts of owning materials and services;SCM maximizes profit margins both for themselves, and their supplies.
Develop a supply chain wide technology strategy:
as one of thecornerstones of successful SCM information technology must be able tosupport multiple levels of decision making.Adopt channel spanning performance measures- Excellent supplyperformance measurement systems do more than just monitor internalfunctions. They apply performance criteria that embrace bathe service andfinancial metrics, including as such as each accounts true profitability.

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