Jindalas.com

J&A Bulletin

Volume 1, Issue 6 For private circulation only. September 1999

Knowledge Updation

Project Management

Project management involves various tasks that need to be completed in time and within estimated costs. The job demands personal care time management, pre-planning and the ability to manage people. Apart from this, understanding engineering, design and its impact on the people who are going to run the plant, is also of prime importance.

Selecting the vendor means assessing not only his credibility, but also his ability to provide continued service, This may not be true in the case of projects that are nearer to a city, where these factors are immediately apparent and can be analysed easily. It is not the case with projects set up in remote villages. Here, the manager has to take care of the credibility of not only the service engineers and performance of their equipment, but he also has to take into account the time factor involved in getting the service done. The project manager has therefore not only got to know the vendor very well, but has also to take into account the inventory at the same time.

Another problem of an industrial project manager is to understand the design thoroughly because the design has to take into consideration the problems faced by any manager or worker in the plant, and also meet safety standards provided by the design of the plant. This factor becomes more complicated with the remoteness of the location.

Besides, project managers should have a thorough knowledge of the time an operation is likely to take, as the time and cost of the project completion would depend entirely on this aspect. It is also necessary to understand that the time factor is different from case to case. It will have a bearing on vendor selection, training of people, skills of the people, commuting problem and planning. Though techniques like PERT and CPM maybe useful, unless one has a fair idea of the time required for each operation, these techniques may not be of much use.

Planning at the last minute may be inevitable, but pre-planning gives a reference point and deviations from the plan can be immediately noted and appropriate steps, taken. A project manager must therefore be capable of preplanning. He must be well aware of his sources of finance and should pay the vendors in time. This can ensure timely completion of the project.

Managing people involves communicating what you want to do, to avoid any misunderstanding. It also involves framing proper management policies and their sagacious implementation. It must be appreciated that every one is different and needs attention. Unless proper care is taken, people may feel demotivated.

For keeping these requirements in mind, here are some rules that may help a project manager:

  • Be completely aware of the surroundings, the environment and people around the project location site.

  • Be appraised of the quality of equipment, the type of service and skills of the vendors.

  • Be honest in each and every one of your dealings.

  • Rigorously plan the selection of personnel and of appropriate equipment to complete a job to cut down on inventory cost and save on time.

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For Your Information

  • Date for filing Income Tax Returns extended from 31st August 1999 to 30th September 1999.

  • Auditors report to include a statement whether Profit & Loss Account and Balance Sheet comply with the accounting standards referred to in section 211(3C) of the Companies Act, 1956.

21-SCL-309

  • Company Law Board constitutes Benches for the purpose of exercising and discharging its powers and functions.

53-TTR-57

  • Citizen Charter of Department of Company Affairs drawn up.

1027-CS-1999

  • Guidelines on policies and procedures for external commercial borrowings for 1999-2000 announced.

1036-CS-1999

  • Guidelines for import of Second Hand Capital Goods announced. 1041-CS-1999

  • 8% sales tax imposed on contractors in Delhi.

Hindustan Times Dt. 12.10.1999

Market Watch

 

BSE Sensex

Dow Jones

Gold (10gm.)(Rs.)

Silver (1Kg.)(Rs.)

US$ (Rs.)

 

4543 (12.08.99)

10789 (12.08.99)

4130 (12.08.99)

8210 (12.08.99)

43.47 (12.08.99)

 

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4060 (15.09.99)

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(Change)

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BENCHMARKING

Benchmarking is a systematic process of measuring, analysing and comparing the performance of an organisation against the current best practices of other organisation (particularly, the leaders in the field). There are many types of benchmarking;

  • Informal - with other units in the same organisation,
  • Process - analysis of best practised processes and functions regardless of industry,
  • Competition - analysis of strategies, processes and practices with other organisation in the same functional area,
  • Strategic - Proactive Analysis of emerging trends and option in the markets, processes, technologies and distribution systems that could affect strategic decisions.

The benchmarking process involves the following steps:

a. determine what to benchmark,
b. plan the study,
c. systematically collect, analyse partners and solicit their interest,
d. implement best practices.

Benefits of benchmarking :

a. customers requirements are satisfied more effectively,
b. better measurement of productivity performance and customer services,
c. establishment of strategic targets,
d. breakthrough in thinking,
e. better performance by adapting and using best practices.

Benchmarking code and conduct :

a. legality - do not discuss proprietory’ issues,
b. exchange of information - give what you expect to receive,
c. confidentiality - keep benchmarking data confidential,
d. use - use benchmarking information for process improvement with partnering organisations only,
e. party contact - initiate benchmarking contact whenever possible. Obtain individual permission before providing anybody’s name in response to a contact request,
f. education and networking.

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