Assignment 1

Assignment 1

Project Conception

Project management (PM) concerns to the management and assurance of projects and impermanent establishments. In general, handling of a project bears on a project to be finished with a determined set of resources—be it material, personnel, or fiscal resources—and within a definite time period.

The process presented here although illustrated by an industrial project has features directly translatable to conceptual evolution in many diverse applications. The fact that the project in question has been deferred is not uncharacteristic of the fate of many programs during the conceptual phase.

Stages of Project Conception

Project management is the process by which plans, directions and controls of a system are developed within an acceptable cost and within a minimum specified period of time.

Although these factors can be very influential and very important in the failure of a project, they are usually accompanied by other flaws. The errors which result in project management failure include those which do not meet the requirements, which exceeds the delivery times repeatedly or those which exceed the costs.

The conceptual stage involves the following activities

Definition of a requirement or an opportunity that commands the interests of the company.

Formulation of a set of preliminary alternatives capable of fulfilling the initial requirement.

Selection of alternative(s) that might satisfy the requirements in terms and conditions attractive to the company.

A brief description of each of these activities in a specific situation and in an organized environment follows

Definition of the Requirement of Opportunity

The continuity of efficient operations and the opening of the new business areas are the main drives for capital investments for industrial firms. Investment opportunities are detected through operational analysis of current performance and by forecasts of the most likely future scenarios. Initially, the scope of any new investment is likely to be vague. Subsequent definition involves consideration of all available relevant facts, required resource sand constraints associated with the original idea.

Preliminary Formulation of the Alternatives

Project conception continues with development of alternatives capable of fulfilling the expressed objectives. The preliminary formulation of alternatives is important as it sets the pace of the subsequent definition and elaboration of the project scope. During this phase, the company calls upon the experience and creativity of its technicians, manager and directors to generate an adequate group of alternatives to fulfill the expressed need.

Initial Selection of Alternatives

The answer to this question can be found in two sources, mainly. These include the deficiencies in the tools and techniques for analyzing the design of systems or the mismanagement of projects. In the case of unmet or unidentified project goals, the error may appear due to omitted data of the project, which is why it is very important not to skip any stage of the life cycle of systems development. Another cause of dissatisfaction of needs is the poor definition of the expectations of a project in its origins, as if they are not well-defined to maximum and minimum requirements that the project should meet from the start. The developers will see their work by the ...