ML0018 PROJECT MANAGEMENT IN RETAIL

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ASSIGNMENT

 

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

Q1. What are the difficulties associated with project management?

 

Ans : Whether you are a new project manager, or an experienced leader, project management will continue to reveal itself as part art, part science, and part major headache! The list below highlights some of the top project management challenges, along with suggested solution ideas to help overcome those challenges:

 

1. Unrealistic deadlines :

 

Some would argue that the majority of projects have “schedule slippage” as a standard feature rather than an anomaly. The challenge of many managers

 

 

 

Q2. Briefly explain the formats that constitute the organized retail in India.

 

Ans : Formats in Indian Organized Retail Sector and its subsequent successful operation is credited to India Economic System reform earnest in July 1991. Formats in Indian Organized Retail Sector is at its nascent stage. The Central Government have ultimately realized the need to remove the insulation out of the Indian retail sector. Skeptics opines opening up Indian retail industry would jeopardize way of income for the poor small retailers. In fact, the actual story is quite heartening for the small time retailer and its vendors.

 

Formats in Indian Organized Retail Sector :

 

 

Q3. Discuss the judgmental process in retail management.

 

Ans :  The ability to accurately estimate the schedule and effort taken for a project to come in to

its successful conclusion is a serious problem for (project) managers. As many project managers know, this is especially true in the case of development projects. The ability of  projects to overrun both time scales and budgetary requirements is now so notorious that it hardly bears repetition. Many have addressed this problem, and some factors do appear to be emerging from this searching: the importance of clearly specifying requirements and understanding the technical difficulty involved on one hand, and the avoidance of overestimated expectations what can be achieved in the available time scale with the available resources on

 

 

Q4. How are project conflicts handled?

 

Ans : 1. Avoiding conflict from the start

 

In contemporary project management, conflict resolution is part of a project manager’s core responsibilities. But conflict resolution is more than just refereeing disputes. Often conflict in a project stems largely from flaws in the project plan, processes or organization, or even people’s understanding.

 

2. A PM should be a good communicator

 

 

 

Q5. What are the stages of project formulation in retail?

 

Ans : We can identify six stages in formulating a project.

 

1. Determine the objectives:

 

Retail projects can be formulated in different ways to meet different objectives. The manner in which projects are formulated, constructed, and operated is determined by the decision makers. The success of the project depends upon the reasonableness of the objectives and availability of resources to formulate, construct, and operate and maintain the project.

 

 

 

Q6. Discuss briefly appraisals of retail projects

 

Ans : A project appraisal is a generic term applied to the review process of projects completed by a business. Companies will review projects in order to gain information about the financial impact each project has on the company or the economic wealth added to the firm by the project. A common process for project appraisal is conducting an initial assessment, defining problems, consulting and developing options, and correcting problems. The appraisal process often starts in the early phases of the project. This ensures the company does not spend too much capital on an economically unviable project. Project appraisal

 

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