Problem description: You oversee a manufacturing facility that produces an automotive part (steel shaft for the gearbox).
The acceptable dimension of the shaft is 2.5±0.05 inches in diameter with the most desirable product having a diameter of exactly 2.5 inches. Two vendors are trying to sell your company, Automotive Parts Corporation, their machines for the shaft-machining task. You have been asked to assess the machines from each vendor, and to make a recommendation for a machine vendor supported by a justification for your decision.
Machining Accuracy of Machines Assignment
You asked both vendors to supply data on the machining accuracy of their machines for the given task. Both vendors machined 100 shafts, collected data, plotted histograms, fitted the histograms with normal distributions and supplied you with their findings.
Let X= diameter in inches of the gearbox shaft
Ace Machines: X has a normal distribution with mean 2.48 and variance 0.001
Best Machinery: X has a normal distribution with mean 2.51 and variance 0.002
When you are completing your memorandum be sure to address the following:
Recommend a vendor using the given information, develop and discuss your approach (give all details including quantitative justification). Your response to this question must be directed to the audience described below.
Examine the scenario as described and discuss what additional information would be helpful to make this recommendation a stronger selection, and why that information would be useful. Be careful not to negate your recommendation as you explain this.
Machining Accuracy of Machines Assignment Audience
You are creating this document for the company’s Chief Operating Officer, Lin Gerard, and copying the Chief Financial Officer, Aileen Kitts. Documents involved in major financial decisions like this may also be distributed by the addressees to other executives and the corporate board members.
Document: Complete this assignment as a memorandum Preview the document. Utilize clear, professional language, including setting your Word preferences to check for a more professional level of writing. Examples of professional language constraints would include:
Utilize plain language. Develop the document around a direct, coherent message , and clear analysis to support it.
Do not use contractions, slang or colloquialisms, clichés , abbreviations, or text message shortcuts
Follow the guidance for a business memorandumPreview the document provided in your reading.
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The Executive Briefing for HyundaiCard Case Study Executive briefing for Hyundai Card case study
The CEO of Hyundai Card, has asked for your assistance as a consultant. Using your knowledge of entrepreneurship and your entrepreneurial skills developed on the course give your considered advice in the form of a REPORT covering the following aspects of the decision facing Hyundai Card:
• What are the bases on which Hyundai Card has built its competitive advantage and is relying to sustain this advantage?
• How well does the configuration of its current value chain match the drivers in the industry?
• Which of the alternatives being proposed for the company do you recommend and why?
• How does this recommendation address the strategic and operational challenges facing the company?
• What qualitative and quantitative evidence supports your recommendation?
• Are additional actions necessary as well?
• What are the financial and other resource issues?
• What are the implementation priorities and next steps?
Mark allocation and word allocation for each section of the report
Introduction -10 marks (300 words)
Literature Review (Tools to be used) -20 marks (600 words)
Critical Analysis of the case -50 marks (1,000 words)
Conclusion -10 marks (300 words)
Recommendations -10 marks (300 words)
The Executive Briefing for HyundaiCard Case Study
MODULE LEARNING OUTCOMES TO BE ASSESSED:-
UPON SUCCESSFUL COMPLETION OF THE MODULE THE STUDENTS WILL BE ABLE TO:
(1) IDENTIFY AND DETERMINE THE DRIVING FORCES IN A NEW VENTURE.
(2) ANALYSE HOW SUCCESSFUL ENTREPRENEURS AND INVESTORS CREATE, FIND, AND DIFFERENTIATE PROFITABLE AND DURABLE OPPORTUNITIES; IN PARTICULAR, HOW THEY TELL
THESE OPPORTUNITIES APART FROM JUST “OTHER GOOD IDEAS”.
(3) EVALUATE AND DETERMINE HOW SUCCESSFUL ENTREPRENEURS AND INVESTORS CREATE AND BUILD VALUE FOR THEMSELVES AND OTHERS.
(4) IDENTIFY AND DETERMINE THE NECESSARY FINANCIAL AND NON-FINANCIAL RESOURCES AVAILABLE FOR NEW VENTURES; THE CRITERIA USED TO SCREEN AND EVALUATE
PROPOSALS, THEIR ATTRACTIVENESS AND RISK, AND KNOW HOW TO OBTAIN START-UP AND EARLY GROWTH CAPITAL.
(5) DETERMINE THE CRITICAL TASKS TO BE ACCOMPLISHED, THE HURDLES TO BE OVERCOME DURING START-UP AND EARLY GROWTH, AND WHAT HAS TO HAPPEN TO ENSURE SUCCESS.
(6) APPLY THE OPPORTUNITY SCREENING CRITERIA TO ACTUAL START-UP IDEAS, AND SUBSEQUENTLY, DEVELOP A BUSINESS PLAN SUITABLE FOR PRESENTATION TO INVESTORS AND
(7) DEVELOP AND ANALYSE INTEGRATED FINANCIAL PROJECTIONS FOR START-UP VENTURES.
For this paper, the writer will have to compose a paper that is original, thought-provoking, in-depth, and demonstrates quality research. Posting stimulates critical inquiry and investigation. Relevance of the topic must be demonstrated throughout the entire paper.
The Project Management Process
The term “project management process” implies that projects can be managed and that a process exists for doing so. The project management process can be mastered with a great deal of dedication and perseverance. However, as with most processes, mastery is an ongoing progression that requires continuous improvement, learning, and refinement.
Project management can be viewed as a project in its own right, in which sensible steps are taken in a logical order leading toward a worthy goal. You may never feel that you have truly mastered the project management process, but each step mastered is a step in the right direction, beginning with those covered in this week’s study.
For this paper, review the Process Groups and Knowledge Areas as defined by the Project Management Body of Knowledge (PMBOK) and discussed in your readings. Consider how the Process Groups and Knowledge Areas affect management and strategy.
Respond to the following key areas of the paper using pear review articles and clearly addressing each point here below:
– First, select a Process Group or Knowledge Area.
– Second, find an organization in the U.S in which the Process Group or Knowledge Area had a direct impact on the organization’s success.
– Post a brief description of this organization focusing on management and strategy rather than execution.
– Describe the organization’s values and ideologies, and explain how the organization is enhanced by stressing these values and ideologies.
– Then, explain why you think this Process Group or Knowledge Area is important to the strategic environment of the organization.
• Hamel, G. (2012). What matters now: How to win in a world of relentless change, ferocious competition, and unstoppable innovation. San Francisco, CA: Jossey-Bass.
o Section 1, “Values Matter Now” (pp. 1–38)
Managers are willing to accept that their organizations can have lofty goals that would make the world a better place, but they cannot seem to bring themselves to actually talk and act in ways that inspire employees.
o Section 5, “Ideology Matters Now”” (pp. 179–257)
The author asserts that even though most managers do not talk about ideology, most exhibit ideologies that prevent their organizations from being more adaptable, more innovative, more inspiring, and more noble-minded.
• Wysocki, R. K. (2014). Effective project management: Traditional, agile, extreme (7th ed.). Indianapolis, IN: John Wiley & Sons.
o Chapter 1, “What Is a Project?” (pp. 3–23)
To be called a project, a collection of work must meet a very specific definition. If it does, a specific set of requirements must be applied to its management.
o Chapter 3, “What are the Project Management Process Groups” (pp. 66–100)
Five Process Groups are explained and mapped to nine Knowledge Areas. The author describes the Process Groups as the building blocks of project management methodologies.
o Chapter 4, “How to Scope a TPM Project” (pp. 103–140)
A clear understanding of the scope of a project is critical to its planning and execution phases. This clear understanding must be developed and documented in collaboration with the client.
• Rose, K. H. (2013). A Guide to the Project Management Body of Knowledge (PMBOK® Guide)-Fifth Edition. Project Management Journal, 44(3), e1. doi:10.1002/pmj.21345 .
This guide presents a set of standard terminology and guidelines for project management. It contains data flow diagrams that clarify inputs and outputs for each process and features two new processes that identify Stakeholders and Collect Requirements.
• Khan, A., Shaikh, P., Dhembre, C., & Gawali, S. (2011). Cloud services for collaborative web based project management system. International Journal of Computer Science Issues (IJCSI), 8(6), 180–184.
Retrieved from http://www.ijcsi.org/papers/IJCSI-8-6-2-180-184.pdf
This research suggests that project management systems utilizing the cloud computing concept can provide a more effective avenue for managing complex information required for complex projects. Uncertainty may be neutralized with technologies that improve definition, purpose, and scope. The authors offer real-time insight in project requirements.
The process of project management is quite complex and requires a deep understanding of process groups and deep knowledge of project management concepts such as project integration, project time management, project scope management among others. Be as it may, project management refers to the application of set processes, methods, knowledge, skills and experience to attain set objectives of a project (Kerzner 2013). These objectives could be benefits, outputs or even outcomes. This paper discusses the concept of quality project management using Apple Company.
Apple Incorporation is one of the most successful American multinational technology companies. Some of the key business activities of Apple is designing, development and selling of computer software and hardware, consumer electronics and online services. The firm’s headquarters is in California, and it was founded in 1976 by three partners Steve Jobs, Ronald Wayne and Steve Wozniac. The firm can constantly produce innovative quality products that are designed to suit customer needs and desires (Burke 2013). This is achieved through successful project management, research and development.
Apple Incorporation has successfully acquired. Managed and share knowledge to come effectively up with new capability with the main goal endorsing innovation and development of new products. The company has supportive organization culture in which employees, management and the stakeholders focus on the bigger picture (Turner 2014). The company also has modern IT infrastructure, excellent employee grouping, and good project quality management to ensure that the company always produces quality products.
The CEO of the company, Steve Jobs can align quality project management and business strategy. This is achieved by development of strategies to offer brand new, innovative merchandise using blended art and technology to offer simple and streamlined user experience (Unab & Kundi 2014).
Apple Culture has played a crucial role in the success of the company. Apple values encompass of qualities, standards, principles and customs that Apple believes that can will assist it together with its workers to be successful (Eastham et al., 2014). Some of the key principles that oversee Apple Inc. Business demeanor includes; compassion for customers, accomplishment, positive community contribution, novelty, personal performance, group spirit, quality and brilliance, personal reward as well as excellent executives. The company is focused on producing simple, elegant, and innovative products that suit customer needs. By stressing this values and ideologies, the firm can develop innovative products and remain relevant in the competitive and dynamic technology industry (Schwalbe 2015). Apple’s culture which was nurtured by the founder and CEO Steve Jobs is the fabric that makes Apple employees to be loyal. In the end, this loyalty translates to the brand loyalty exhibited by the clients of the firm.
Project Quality Management is important for Apple Company because of the nature of its business. The success of Apple projects in producing innovative products such as tablets, phones among others is as a result of proper and efficient project quality management. Without quality management, innovation at Apple Company would not be of much importance. This is because products produced may not meet the standards often set by the customers (Chan et al., 2013).
In conclusion, total quality management is essential for Apple Incorporation. This is because the firm has multiple projects to develop quality products such as Computers, smartphones, tablets among others. The success of the company is in producing such innovative products as a result of efficient project quality management.
Kerzner, H. R. (2013). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Burke, R. (2013). Project management: planning and control techniques. New Jersey, USA.
Turner, J. R. (2014). The handbook of project-based management (Vol. 92). McGraw-hill.
Unab, W., & Kundi, M. F. A. (2014). Review of Project Management (PM) Practices in Public Infrastructure Development Organizations of Pakistan.Journal of Strategy and Performance Management, 2(4), 144.
Eastham, J., Tucker, D. J., Varma, S., & Sutton, S. M. (2014). PLM software selection model for project management using hierarchical decision modeling with criteria from PMBOK® knowledge areas. Engineering Management Journal, 26(3), 13-24.
Schwalbe, K. (2015). Information technology project management. Cengage Learning.
Chan, J., Pun, N., & Selden, M. (2013). The politics of global production: Apple, Foxconn and China’s new working class. New Technology, Work and Employment, 28(2), 100-115.
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