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Projects & Profits


February'08

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Strategic Project Management towards Competitive Advantage
Project Management in 21st Century : Challenges for PMs
Project Management : Understanding the Cross-cultural Issues
Conflict Resolution in Project Environment
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Projects-as-Practice : A New Approach


-- Markus Hällgren and Timothy L Wilson

As projects have unique activities, they are inherently uncertain and this article addresses a challenge to our present treatment of projects. Instead of treating them as a managerial form the organization does, they are seen as something that people do. Consequently, project management requires the management of the unexpected-the deviations from plan that occur in the real world.

Strategic Project Management towards Competitive Advantage


-- V Venkateswara Rao

World's leading project management organizations have taken major initiatives to advise their executives about the strategic importance and benefits of project management. By inducting strategy into the project management, the focus is shifting from individual project management to organizational project management. In the end, organizations maintain a strategic advantage in a competitive world.

Article Price : Rs.50

Project Management in 21st Century : Challenges for PMs


-- N Vijaya Lakshmi

Managing projects in 21st Century successfully requires good people-management skills. However, the new generation project managers have few people-management skills and usually they are not really trained in managing people.

Article Price : Rs.50

Wisdom of Building the Project Manager-Project Sponsor Relationship : Partnership for Project Success : LTC Nanette Patton and


-- Allan Shechet

The project sponsor can promote Information Technology (IT) project success in several ways, yet many projects either have no formally designated project sponsor or the project sponsor is confused about his/her role. The project sponsor's role traditionally includes project approval, funding, and staffing, but can include much more. This article discusses conventional roles and responsibilities of the project sponsor and then discusses strategies a project manager can employ to define boundaries to reduce role confusion and promote partnership to facilitate project success.

Unified Portfolio Management Model : A Full Model for Portfolio Management



-- Stanislaw Gasik

The Unified Portfolio Management Model (UPMM) describes the way of managing all types of project portfolios: investment, commercial and mixed. It may be applied in operational as well as in project-based organizations. The UPMM consists of five process groups: Strategy Development, Portfolio Governance, Portfolio Management, Directing Components and Component Management. The model has been developed on the basis of author's own experience in the domain of project portfolio management and Project Management Institute (PMI®) documents describing portfolio management: Portfolio Management Standard (PMS) and Organizational Project Management Maturity Model (OPM3®).

Project Management : Understanding the Cross-cultural Issues


-- Annam Anand

Managing multiple projects can be a daunting task of project managers. However, proper understanding of human interfaces is crucial and the development of a project-specific culture is an important approach in the management of the project complexity.

Article Price : Rs.50

Measuring the Software Engineering Productivity : Accounting for the Qualitative Aspects and Pitfalls


-- Suresh Malladi

IT organizations collect different metrics to measure the engineering productivity. Such measurements can be insightful based on the proper definition of metrics and the discipline in the implementation process. Metrics will be meaningful only if they are analyzed and used towards continuous improvement. Right metrics have an inherent meaning to identify the efficiencies and deficiencies and should be supplemented by proper mechanisms to correct the deficiencies. While organizations at higher levels of process maturity employ mechanisms like the Personal Software Process to measure and manage the individual employee productivity, such mechanism should be robust to account for the qualitative aspects that encompass the employee performance. A well-defined measurement system should accommodate the qualitative aspects and should target countering the pitfalls and continuous improvement.

Conflict Resolution in Project Environment


-- GP Sudhakar

In project environment there are chances of conflicts among team members, project managers and stakeholders. What are the reasons for such conflicts? What are the techniques to resolve these conflicts? What kind of conflicts can take place in software development teams and cross-functional teams is explained in this article. The different stages of team development are also explained.

Article Price : Rs.50

Kalpataru Team


-- Gautam V Desai

As a leader of the project team, the role of a project manager is to ensure that the entire project team works effectively and efficiently as a coherent unit for project success. Therefore, it is as much important for him to pay attention to managing human relation aspects of the team as focusing on the project-related specific major issues. The project manager has to pay close attention to selection of key team members with complimentary skills and mutual compatibility in day-to-day working, excellent communication-listening and persuading, developing empathetic relationship with the team members and inspiring them with the project vision which will lead them to subordinate personal agenda in favor of project objectives. Above all, he should be able to lead by his own example and project himself as a true leader of his team. The case study describes the formation and working of a project team in an engineering consultancy organization and in the process highlights the relevance of these issues to the project success.

 
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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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