Category: MBA Project Management Projects

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Effectiveness of Project Management Techniques with reference to Real Estate Companies

Need of the Study:

The purpose of the  “Effectiveness of Project Management Techniques with reference to Real Estate Companies in Hyderabad-A Comparative Study” is to know the effective use of Project Management which draws on the wider knowledge and skills being used in Real Estate Companies. The study will help in studying the effective utilization of present Project Management which will help in working on companies’ different projects. The Study is undertaken to find out the effective use and application of Project Management in Real Estate Companies. The study will also throw light on the Project planning and information tracking of recent projects and the quality of Project Management which may have a major impact on the Project Manager’s satisfaction and decision-making.

 OBJECTIVES OF THE STUDY:

  • To study the effective application of Project Management in Real Estate Companies in Hyderabad.
  • To assess the quality of Project Management used in tracking the project Status and information access in selected Real Estate Companies in Hyderabad.
  • To find the effective usage of Project Management by a Project team working on various projects in Real Estate Companies.
  • To know the satisfaction level of Project Managers using Project Management and its impact on decision-making and report preparation.
  • To understand the need for changing from the present information system based on past records and quality problems with the existing Project Management.

RESEARCH METHODOLOGY:

Sampling Design:

Sampling frame: The sample frame will be taken from Real Estate Companies in Hyderabad 

Sample size: The sample size will be around 100 respondents taking 20 each from among the top five Real Estate Companies in Hyderabad city.

Sampling Method: The Sampling Procedure to be used is Convenience Sampling.

Sample Units: The Project Managers and Teams working on different real estate projects in Real Estate Companies will form part of the Sampling units. The following top five Real Estate Companies that are considered for the study are as follows:

  1. Jayabheri Properties
  2. Janapriya
  3. Gharonda
  4. Legend
  5. Lanco Constructions

 Data collection sources:

  1. Primary data: For this study, Questionnaire will be prepared to contain Variables on Project Management quality such as availability, reliability, relevance, accuracy, No of projects undertaken, information overload, Project Planning, Scheduling system Impact on decision making, Project Manager’s satisfaction with Project Management, Impact of information, weekly status report, Project tracking through dashboards, Inspection,  and other information related to Project Management.
  2. Secondary data: Under Exploratory Research, Secondary Data will be collected from Journals, Textbooks, and Websites; Newspaper Articles will form part of the secondary data.

Data analysis tools:

Data collected from 100 respondents will be analyzed through Tables, charts, and graphs using suitable measuring scales.

 LIMITATIONS OF THE STUDY

  • The study is limited to the Real Estate Companies Located in Hyderabad City only.
  • The Study will be undertaken for a period of 40-50 days approximately
  • The sample size is Limited to 100 respondents only.
  • The opinion of the respondents may change over a period of time.
  • The companies may upgrade their present Project Management in the future.

SCOPE FOR FURTHER RESEARCH:

 The study will help in understanding how effectively Project Management is being used in Major Real Estate Companies in Hyderabad. The study will help in studying the problems associated with developing; Managing and application of Project Management. The modern tools will have an impact on the quality, cost, and Time factor of the companies’ projects and database management system. The present study will be a torch bearer for future researchers who will have an understanding of the companies’ dependence on and effective use of current Project Management.

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A study on project schedule and cost overruns with reference to Construction Company

Title of the project:

A study on project schedule and cost overruns with reference to Construction Company

EXECUTIVE SUMMARY

Project Management offers challenges that can be more visible and accountable than the more mainstream activities within an organization. Projects within organizations can bring disparate parts together through team members who represent their specialisms. Innovation and change has generated increased partnership working across public sector organizations. This emphasizes the importance of Project cost Management used to manage the complexities of these types of projects. Whilst cost reduction draws on generic management skills it is the adaptability of these skills in the context of a project that generates the need for cost, energy and commitment. Aiming for excellence is the key to a successful project.

The present study on Project schedule and Cost Management was undertaken to get knowledge of the effectiveness of cost management strategies in an organization. The present study is taken up with the aim of studying the approach of the Real estate Companies in developing, managing and executing of project cost management tools and techniques used in organization.
The study is done at Hyderabad in Construction Company with the employees from different departments as the respondents of the study. The staffs at different levels of hierarchy were interviewed using questionnaire. The data collected from the primary source and the secondary sources was analyzed using tables and charts. From the study, it was found that the PMS tools and techniques used in the organization are effective and most of the people working on different projects in the organization agree to it.The organization should therefore regularly assess the need for using advanced technology, assessment of risk and involvement of skillful employees who would form part of the project and meet the needs of the Stakeholders involved in the projects.

 Introduction and Objectives of the project:

Introduction:

Objectives of the project:

  1. To analyze project delay time and cost overruns
  2. To study the reasons for cost overruns in pre-execution phase
  3. To study the reasons for schedule overruns in pre-execution phase
  4. To study the reasons for schedule overruns in execution and closing phase
  5. To study the reasons for cost overruns in execution and closing phase
  6. To provide suitable recommendations.

Literature review:

The success or the failure of the project is broadly assessed in three dimensions.

a) Cost

b) Time

c) Product performance

However, the project cannot be called successful or failed on the basis of these three parameters if viewed from the eyes of all the stakeholders involved in it. The same outcome of a project may mean different things to different people.  Management‘s view of what constitutes a successful project may be different from that of a project manager, while developer and users may have different take on the success. The difference in view point is due to different perspectives, motivation and responsibilities associated with the roles.

Methodology and References:

Type of Research Method: The proposed study is a quantitative and descriptive type of study. The major purpose of using such a design is description of the state of affairs as it exists at present.

Sample size: The sample size would be 50 respondent.

Primary data:

Primary data will be collected by following methods:

  1. Observation during the project.
  2. Personal interviews through a questionnaire

Secondary data: The data will be collected from the Magazines, Annual reports, Internet, Text books and brochures.

Data collection: Data will be collected through observation and questionnaire

Data Analysis method: Data will be analyzed by using excel and using graphs, charts and percentages.

TOOLS / TECHNIQUES TO BE USED FOR DATA ANALYSIS:

Descriptive statistics, Charts and graphs

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A Study on Role of Project Management Information system (PMIS) for successful implementation of Projects

Title of the project: A Study on “Role of Project Management Information system (PMIS)” for successful implementation of Projects.

Objectives of the project:

  • To investigate the contribution of PMIS towards the success of various projects.
  • To study the role of every component of PMIS for the successful implementation of projects.
  • To analyze information instruments for the current management of ongoing projects.
  • To study how to create and maintain an information circulation network for the management of operational activities.
  • To study the importance of Enterprise guidance and project background information.
  • To study information coming from various sources, including formal reports, informal sources, observations, project review meetings, and questioning.
  • To study the interface of PMIS with larger organizational information systems to permit smooth, well-organized interchange of information in support of organizational and project goals.

Problem Statement:

A PMIS consists of people, equipment, and procedure to collect, process, store, combine, and communicate the needed information to users (stakeholders) for carrying out project management functions.

The success of the timely implementation of projects depends on the availability of essential information at the appropriate time. The information is needed for taking various decisions during the selection, planning, execution, and closure of a project. Project Management Information System (PMIS) aims to provide relevant information on time, resulting in improved performance.

Traditionally, this system was manual, paper-based, and labor-intensive. It was slow to respond and update. The advancement of computer and telecommunication technology made a phenomenal change in it.

The features of present PMIS include:

  • Speed: Processes speed up the creation of information within a blink of an eye.
  • Capacity: Ability to process and store large data.
  • Efficient: Fewer people are needed to manage the system.
  • Economic: Provides cost advantage over manual system.
  • Accuracy: Provides better accuracy than a manual system. 

Project Management Information System (PMIS) helps in planning, executing, and closing project management goals. Project managers use PMIS for budget frameworks such as estimating costs at the time of the planning process. Furthermore, the PMIS is employed to build a specific schedule and classify the scope baseline.

The project management team collects information into one database while executing the project management goals. It is used to compare the baseline with the actual achievement of each activity, manage materials, collect financial data, and keep a record for reporting purposes. The PMIS is used to assess the goals to ensure that the tasks were accomplished when the project is closed after that, it is employed to make a final report of the project close.

Methodology to be used:

The research process or methodology is the approach to the entire study- it is the master plan. It is the blueprint for achieving the objectives.

PRIMARY DATA COLLECTION

Data are collected firsthand. The key point here is that the data you collect is unique and research; until it is published no one else has access to it.

There are many methods of collecting primary data and these methods include

  • Questionnaire
  • Interview
  • Focus group interviews
  • Observation
  • Case Studies
  • Diaries
  • Critical incidents
  • Portfolios.

The primary data, which is generated by the above methods may be qualitative or quantitative the nature. 

Questionnaire

The questionnaire is one of the most widely used survey data collection techniques. Because each person is asked to respond to the same set of questions. It provides an efficient way of collecting responses from a large sample prior to quantitative analysis.

Interview

Interviewing is a technique that is primarily used to gain an understanding of the underlying reasons and motivations for people’s attitudes preferences or behavior. Interviews can be undertaken on a personal one-to-one basis or in a group.

SECONDARY DATA COLLECTION

Secondary data is one type of quantitative data that has already been collected by someone else for a different purpose than yours. Examples of secondary data are case studies, government reports, organizational reports, etc.

Statistical Tools for representation and analysis of data

  1. Tabulation
  2. Graphs
  3. Chart
  4. Pareto Analysis
  5. Diagrams

This project will be mostly based on my own experience and case studies of different researchers but I will also use the experience of my colleagues and suggestions of my higher official. An exhaustive amount of data available on the internet, from textbooks, newspapers, and various magazines, and suggestions from a few experts in the field will be analyzed in doing this project.