Bachelors In Business Management - For BBA, BBS students and self learners. (TU, NEPAL)

Advanatages of team building: Team Building activities improve the relations and strengthen the bond among the employees. Every one strives hard to achieve a common goal. Please refer to Michael’s example once again. His team members had the liberty to write to him anytime or freely discuss issues with him. There was never a misunderstanding among the team members as everyone knew what the other person was up-to. Team Building activities also reduce the chances of confusions, misunderstandings and in a way making the communication effective. Individual is very clear about his goals and objectives and what exactly is expected from him. Team Building exercises also increase the trust factor among the employees. If you are sitting next to a driver, whom you don’t trust, you will always feel uncomfortable and will never be able to enjoy the ride. If you don’t trust your teacher, you can never learn anything from him. You need to trust people. Don’t always assume that yo...

Project Control Project control is a series of processes and steps that a project manager in cooperation with other management staff carries out to control the project in terms of progress, quality, changes, products, commitments and other critical concerns. The ultimate purpose of project control is to manage work during each stage of the implementation life-cycle and to prepare the project for the next stage. In this article you will find out how to control a project in 5 steps. Project control is a project management function intended for achieving defined objectives and expectations within a predetermined timetable. Steps in project control  1. Hold Meetings The objective of conducting meetings during the course of a project is to assemble and manage an effective project team that is able to accomplish defined goals and objectives. At a meeting the project manager should provide an overview of work at the moment, describe current goals and issues, and est...

- Project Appraisal or Project Analysis * What (Definition). Appraising a project means performing a process of reviewing evaluating the project and its content for feasibility and cost-effectiveness to approve or reject the project concept, through analyzing the problem or need to be solved by the project and identifying the best possible solution to be implemented. It involves an analyst in identifying stakeholders and creating a decision package for making the final decision on project approval or rejection. • Why (Purpose). The purpose is to analyze the proposed project to determine whether the concept really offers an effective solution that addresses the identified problem. It serves as a tool to reach project approval and step towards further project planning and development. It aims to confirm that the proposed project is technically, financially and economically feasible and cost-effective. • When (Phase). The appraising process is carried out during t...

Time management Time is a terrible resource to waste. This is the most valuable resource in a project. Every delivery that you are supposed to make is time-bound. Therefore, without proper time management, a project can head towards a disaster. When it comes to project time management, it is not just the time of the project manager, but it is the time management of the project team. Scheduling is the easiest way of managing project time. In this approach, the activities of the project are estimated and the durations are determined based on the resource utilization for each activity. In addition to the estimate and resource allocation, cost always plays a vital role in time management. This is due to the fact that schedule over-runs are quite expensive. The Steps of the Time Management Process: Following are the main steps in the project time management process. Each addresses a distinct area of time management in a project. 1. Defining Activities When it comes to ...

- Project Team. A Project Team is an organized group of people who are involved in performing shared/individual tasks of the project as well as achieving shared/individual goals and objectives for the purpose of accomplishing the project and producing its results. The team consists of the full-time and part-time human resources supposed to collaboratively work on producing the deliverables and moving the project towards successful completion. Organizing a project team is a typical task of a project manager. Successful implementation of this task requires the manager to acquire, develop and lead a group of people who are supposed to do the project. Organization of the project team is the responsibility of the project manager who is committed to building a productive team of professionals in order to guarantee that the project deliverables will be produced on schedule, under budget and as per specification, and thereby the customer will accept those deliverables. Prop...

- PROJECT ORGANIZATION: Project organization is the engine of project management. It coordinates and integrates human and non-human resources of the project. It lays down rules and regulation for the project's operations, activities, and administration of the project, outline the relationship between project participants, establishes relationship, indicate communication lines and channel between project manager with project team and external stakeholders and provides basis for integration and coordination of human and non-human resources in the project.    The project organization should be action oriented. It should be flexible to facilitate adaptation of changes in responsibilities of team members during various project phases. It should be non-bureaucratic. The project organization is a temporary organization. It lasts till the life of the project. The design of project organization structure depends on the nature, objective, size, technology, complexity and constraint...

- Project specification: The list of special and technical works to be performed in a project is called project specification. Special work includes the management of raw material, management of manpower, management of machine and equipment, management of finance etc. Different activities are divided in different divisions and sub divisions. This is called work breakdown structure. Special list of technical works is made in project specification; such works become more important than general work and should be take more carefully. Specification is the description of the technical content of the project. Particulars that are involved in project specification are: a. Statement of works: statements of all the works should be included in project specification. The work required can be various such as constructions, procurement, installation, etc. b. Quality of material: Quality standards are specified for material to be used in the project. Standards for testing of materials are a...

- Techniques of project formulation: The systematic way or technique of converting the concept of project into its probable planning is called project formulation technique. At first the necessity of project and its concept is developed . The project is formulated on the basis of generated idea. After the necessity of the project is felt different activities are done to materialize it. Stages of  Project Formulation are: 1. Feasibility Analysis: It is the First stage in project formulation. Examination is done to see whether to go in for a detailed investment proposal or not, Screening of internal and external constraints are also made. Various aspects of feasibility analysis are a) Technical analysis: it analysis the feasibility of meeting technical specifications of the project and technical resources required for project implementation. b) financial analysis: It analysis the capital requirement of project, project's capacity to meet financial obligation and cost...

- Procedures of developing project proposal : Project proposal are documents designed to present a plan of action, outline the reasons why the action is necessary , and convince the reader to agree with and approve the implementation of the actions recommended in the body of the documents   In short '' The set of the documents submitted by evaluation of project is called project proposal '' The steps involved in the procedure for developing a project proposal are a.        Project brief: It summarizes all the relevant facts about the project. the contents includes ·          Need for the project ·          scope of project ·          benefits of project ·          objective and outline of project ·          estimated budget ·  ...

- The project planning process. Project planning is determination of how to initiate, sustain and terminate a project. This responsibilities lies with project manager. Generally the time to complete any project is fixed . As a project is to be completed within predetermined time , resources and means , the project manager should formulate a plan for implementation to successfully complete the project within the time determined.    The project planning process implies systematic ways of doing project tasks . It consists of the following steps: a.        Understand project objectives: This is the first step in project planning. Objectives are result to be achieved . They are the end result of project planning .They should be clearly understand and defined. b.       Identify key project stages:  Identify key project stages: This stage is the major sub division of project. Normally the key stages in a project ...

- Concept of project : Project is a temporary unique and progressive attempt or endeavour made to produce some kind of tangible or intangible result, it is an integrated effort made for achievement of certain objective within certain time. It includes a series of interrelated tasks that are planned for execution over a fixed period of time and within certain requirements and limitations such as cost, quality, performance and others. - Characteristics of a project : project has several characteristics. The main characteristics of project includes the following features: 1.        set of objectives: a project has mission or a set of objectives to be achieved with in a distinct time, cost and technical performance. Once the mission is achieved project is treated as complete. 2.        Ownership: every project has an owner. Who in the private sectors can be an individual or a company. In the public sector government or g...