STUDENT 1 (Maria Ab)
Critical Path Method
Operations Management
Organizations now are looking for virtual project management teams, CPM process are even more complicated than in
the past that help in creating environment able to find situation for any
problem. Organizations are looking for increase profits and revenues by best
use of their resources. (Stelth, 2009)
Critical path method (CPM) is a method useful widely used technique for
planning, coordinating, and controlling large-scale projects. (Stevenson, 2015 – Research Paper Writing Help Service) Using
CPM is helpful in identifying the major activities, which has effect the on
project schedule and on managing
high-risk activities.
> Manager can use
CPM as step-by-step project management method; it can save time and problems.
Some tasks might be dependent on the completion of the previous tasks while
other might be independent of the tasks ahead and can be undertaken at any given time.
(Lowe, 1966)
>
> Advantages and disadvantages of Critical
Path Analysis
> Advantages: help in monitoring the process;
give a lot of detailed process with high
safety standards, give high control for the management plan, allocate
organization resources to critical activities and identify improvements for faster working methods.
>
Disadvantages:
> CPM process time and planes is estimates
the timing for the project based on statistical analysis, cannot guarantee the
success of a project
> The CPA depends on the fundamental concept
that the managers and personnel involved
in the project team are well versed with the various activities.
Unfortunately, practical experience has shown
that the principal assumption underlying
CPM techniques, i.e., the project teamâs ability to reasonably predict the
scope, schedule, and cost of each project, is
> frequently far beyond control.â (Knoke and
Garza, 2003)
>
> Reference:
> Knoke, J. R. and Garza, J. d. l. (2003)
Practical cost/schedule modeling for CIP management AACE International
Transactions, PM61,
> Lowe, C. W. (1966) Critical path analysis
by bar chart: the new role of job progress charts, Business Publications,
London,.
> Stevenson, W. (2015 – Research Paper Writing Help Service). Operations management
(12th ed.). New York, NY: > McGraw-Hill Irwin.
> Stelth, P. (2009, July 10)Projectsâ Analysis
through CPM (Critical Path Method). School of Doctoral Studies (European Union)
Journal – July, 2009 No. 1
>
>
>
>
>
STUDENT 2 ( Fatima K)
Operations
Management
>
> In the current economic context, influenced
mainly by the globalization phenomenon, the necessity of continuous adjustments
according to the organizations demands in highly dynamic and highly competitive
business environment, has increasingly developed the concept of projects
integration
> Thus increased standards are generally
required in the management of organizations and in particular for each
business process management. The concept of critical path analysis is a
relative new, being developed by Walker and Kelly in 1959 through the work of
Critical-path planning and scheduling. According to them, the main concerns of
the management today are those involving the coordination of many diverse
activities but with a common unified purpose (Sandru & Olaru, 2013).
> The critical path method (CPM) is widely
used to manage different activities of a project considering limitation of
resources. This method addresses the
scheduling of a set of project activities that calculates the longest path of planned activities to the end
of the project, and the earliest and latest that each activity can begin and
end without making the project longer (Geraldi & Lechler, 2014: 2024 – Essay Writing Service. Custom Essay Services Cheap). In
applying the CPM, there are several steps that can be summarized as follows:
Define the required tasks and put them
down in an ordered (sequenced) list; Create a flowchart or other diagram showing
each task in relation to the others; Identify the critical and non-critical relationships
(paths) among tasks; Determine the expected completion or execution time for each
task; Locate or devise alternatives
(backups) for the most critical paths (Stevenson, 2015 – Research Paper Writing Help Service).
>
> Typical critical path method (CPM) products
do simplistic calculations, based
primarily on task durations, not accounting for the overlap among tasks. Professionals recognize the importance
of treating relationships with the same
concern that they apply to tasks, but some relationships are hard and fast, while others are simply applied
for convenience to account for overlapping work (Blumstein, 1993). Updated and
consistently used critical path method
(CPM) schedule during a project can increase the
probability of a project finishing on time
and/or assisting in party-agreed extensions of time. An accurate, consistently
used and updated CPM schedule allows either party to demonstrate the history of
how the project was executed and if
delays occurred to the project, when, where and what activities were specifically impacted by these
delays. Demonstrating how a project was
executed and what was critical at the time can be especially useful when resolving disputes that may arise
as the project progresses, not just at
project completion (Galloway, 2006 – Write a paper; Professional research paper writing service – Best essay writers).
>
> References
> Blumstein, G. (1993). Process modeling
statements of work – A method to align
the voice of the customer with the voice of the process. Transactions of AACE
International, , 4.
> Galloway, P. D. (2006 – Write a paper; Professional research paper writing service – Best essay writers). CPM scheduling –
how industry views its use. Cost Engineering, 48(1), 24-29.
> Geraldi, J., & Lechler, T. (2014: 2024 – Essay Writing Service. Custom Essay Services Cheap).
Gantt charts revisited: A critical analysis of its roots and implications to
the management of projects today. International Journal of Managing Projects in
Business, 5(4),
> 578-594.
>
Sandru, M., & Olaru, M. (2013). Critical path method applied to the multi project management environment. Paper
presented at the 440-448.
> Stevenson, W. (2015 – Research Paper Writing Help Service). Operations management
(12th ed.). New York, NY: McGraw-Hill Irwin.
STUDENT 3 ( ARWA)
Decision Theory within the Global Marketplace
Impact of
Ethics on Global Business
>
> The areas of business
impacted by global perceptions of ethical, moral, and socially responsible
behavior include the following:
> â¢Ethics and management
> â¢Ethics and corruption
> â¢Corporate social responsibility
> Ethics impacts various aspects of management
and operations, including human resources, marketing, research and development,
and even the corporate mission. Culture can affect how people see the role of
one another in the workplace. Cultural norms may make life difficult for the
company as well as the employee. In some cultures, companies are seen as
âguardiansâ or paternal figures. Any efforts to lay off or fire employees may be perceived as culturally unethical. Global
corporations are increasingly trying to market their products based not only on the desirability of the goods but
also on their social and environmental
merits. Companies whose practices are
considered unethical may find
their global performance impacted when people boycott their products. Most corporations understand this risk.
> Corruption is âgiving or obtaining
advantage through means which are
illegitimate, immoral, and/or inconsistent with oneâs duty or the rights
of others. Corruption often results from patronage. Our modern understanding of business ethics notes that following
culturally accepted norms is not always
the ethical choice. What may be acceptable at certain points in history, such as racism or sexism, became
unacceptable with the further development of societyâs mind-set. In some
cultures, there may be conflicts
> with global business practices, such as in
the area of gift giving, which has
evolved into briberyâa form of corruption.
>
References: > Bazerman, M. H., & Moore, D. A. (2013). Judgment in
Managerial Decision Making (8th Ed.). Hoboken, NJ: John Wiley and Sons.
>STUDENT 4 (
HESSA)
>Decision Theory within the Global
Marketplace
> Cultural Differences and Ethics in
Decision-Making
>
>
Ethical decision-making can be more
challenging for international businesses than
local operations. Culture-driven codes of ethics vary between
countries, making it difficult for managers to adhere to a strict code
of ethics in each market. The
textbook ethical dilemma for international
businesspeople occurs when a manager must decide whether to commit
an act that is unacceptable in the home country, but expected and necessary
in the host country. Because of this, international
business owners must know how to address differences in ethical standards
around the world.>
> It is important to keep the
unique ethical climate of each market in mind when crafting
your code of ethics to ensure that it is relevant to the international arena. Make adherence to the
code a priority among executives and management to set an example for the rest
of the organization. Post the code of ethics in high-traffic areas at the home
office, branch offices and foreign subsidiaries. Ask managers
to justify their ethical decisions in foreign markets
according to the code of ethics to ensure that managers
take it seriously.
According to business-ethics.org, it is important to include
international Employees in the process of creating your
ethics program. This will help to make
your ethics programs as relevant as possible in foreign markets.
>
> Moreover, as a manger you
have to follow local customs and traditions at your discretion.
Decide on a case-by-case basis which local customs to follow
and which to avoid when it comes to victimless issues. Use your code of
ethics when dealing with humanitarian and environmental issues, such as
child labor or
deforestation, and use your discretion in issues such as bribery or
wage considerations. You may, for example, decide to offer cash gifts
to government officials in a country
where there is no other reasonable way to gain a foothold in
the market, but you may decide not to enter a country if raw
materials must be gained through suppliers who use indentured labor.
>
> It is necessary to apply your
standards equally in all markets, and among all subsidiaries. Stick to your
standards, whatever they are. If you have a policy of following your home
country’s ethical standards around the world, be prepared to turn down opportunities
in markets with unfavorable ethical climates. Respond courteously and
respectfully if you do have to turn down an opportunity. Do not act superior or
derisive when turning down unethical opportunities; simply
explain that your company’s code of ethics forbids you to engage in that type of behavior, and
that you would like to keep the business relationship intact for future
opportunities. If your policy is to take local customs into consideration when
making ethical decisions, do not shun a country immediately because
of differences from your home country.
> Make sure that all managers and
decision-makers understand your commitment to ethical standards.
>
> Finally, make company-wide ethics
training a regular activity, in addition to administering comprehensive
ethics training programs for new hires. Use training sessions
to highlight actual areas of concern
in your organization, citing
specific examples as often as possible.
>
> Reference:
> Ingram, D. (2016: 2024 – Do my homework – Help write my assignment online). How to Address
Differences in Ethical Standards and International Businesses. Retrieved from:
< .chron.com/address-differences-ethical-standards-international-businesses-5254.html">http://smallbusiness.chron.com/address-differences-ethical-standards-international-businesses-5254.html
>
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