What Is The Relationship Between Organizational Culture And Estimating

Contents

Chapter 5 Test Flashcards

Exactly what is the link between corporate culture and estimating practices? The accuracy of estimations is influenced by cultural norms. Ed involves reviewing the actual results of projects and comparing them to the estimates that were made in the first place. He finds that projects that took six months or longer to finish were much more expensive than those that were completed in six months or less. Which of the following aspects does he appear to be aware of? When it comes to bottom-up estimation, which of the following conditions is more favorable?

Laura is estimating the amount of time and money it will take to construct an intranet for a new customer.

Despite the fact that the suggested system is around the same size as the others, she thinks that it will need approximately 10% less time and money.

Which of the following ways to predicting project time and cost does not fall under the category of bottom-up approaches?

It is critical for project success that estimates are as thorough as feasible; consequently, an effort should be made to create estimates for all projects as detailed as possible.

Overhead for general and administrative purposes Which of the following is being used by businesses to improve the estimation process for future projects?

Refining For a variety of reasons, it may be important to make estimates.

While it is true that Mega Projects are by their very nature extremely difficult to estimate, another factor that has been identified as contributing to the consistent pattern of estimating difficulties is: When work package estimates are made by individuals who are most knowledgeable about the work being performed, and these estimates are then “rolled up” to find estimated costs for major deliverables and the project itself, estimating is being used to determine estimated costs.

  1. The factor refers to the estimating factor that takes into account the skill level of the individuals who are conducting the estimating.
  2. When it comes to project time and cost estimation, the top-down approach, which employs weighted variables based on important factors and is widely employed in the creation of software, is referred to as the technique.
  3. Expenses associated with a project, such as labor and materials, are commonly classed as costs.
  4. Past experience is virtually always employed in the estimation process, and it is most often used in the first stages of the process.
  5. Everyone involved in a project will benefit from a little padding to decrease risk, which will result in more realistic predictions of project length and cost.
  6. When estimating project time and expenses, it is best to employ both the top-down and the bottom-up approaches simultaneously.
  7. The apportion method of cost estimation involves calculating the total cost of a project by multiplying each key function by a complexity factor.
  8. All task time estimations must be based on the same time units.
  9. A direct cost, which includes labor, materials, and equipment, is often assigned as a percentage of the total of all general, administrative, and overhead expenditures.
  10. In reality, while this is a fantastic beginning point, it is rarely the case in practice.
  11. The following two types of estimates are used: (1) top-down estimates for the project as a whole, which are generally generated by senior management; and (2) bottom-up estimates for work packages, which are made by personnel responsible for completing the work packages.

Ideal strategy is to provide sufficient time for both top-down and bottom-up estimates to be developed, with the results being included into the final design.

What is the relationship between organizational culture and estimating?

Jaquan Stroman posed the question. Score: 4.7 out of 5 (22 votes) Exactly what is the link between corporate culture and estimating practices? The accuracy of estimations is influenced by cultural norms. Ed involves reviewing the actual results of projects and comparing them to the estimates that were made in the first place.

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What is the relationship between Organisational culture and estimating?

Exactly what is the link between corporate culture and estimating practices? There is no connection between the two. Estimation and culture are distinct concepts. It is determined by culture whether or not estimations are produced.

How does the culture of an organization influence of the quality of estimates for a project?

What role does an organization’s culture have in determining the quality of its estimates? Depending on how much emphasis the business focuses on estimating, the culture of the organization might have an impact on project estimates. The choice between top-down and bottom-up estimation can have an impact on estimations. The manner in which padding is handled has a significant impact on estimations.

Which of the following is a good condition for top-down estimating?

Top-down estimating is most effective when there is a high level of uncertainty involved in the project, when the project is small and internal, when the scope is unstable, and when the project requires strategic decision making, among other factors.

What are the relationship of estimate to project management?

In project management, cost estimating is the process of projecting the financial and other resources that will be required to accomplish a project within a stated scope and budget. During the cost estimating process, each component of the project—from materials to labor—is taken into consideration, and a total amount is calculated that is used to set the project’s budget. There were 25 questions that were connected.

What are the three basic types of cost estimating?

Generally, cost estimates are divided into three categories, each of which performs one of three fundamental functions: design, bid, and control. In order to determine the feasibility of a project’s funding, you must first create a design estimate or a bid estimate.

Why is estimating cost and time important?

Cost estimating assists you in doing what you claim you will accomplish within the financial limits imposed by executives and stakeholders. When it comes to setting up a project’s specifications, precise project cost estimating must occupy the top spot because it is one of the defining characteristics of effective advancement.

What is the first step in project planning?

Step 1: Identify the problem Stakeholders should be met. Keep in mind that when developing your project strategy, you must identify all stakeholders and consider their needs and interests. Meet with the project sponsors and other key stakeholders to review their requirements and expectations for the project, as well as to set a baseline scope, budget, and timetable.

At which stage of the life cycle will risk be identified?

You are currently in theVerification phase of the life cycle, which is the last stage. During this phase, you will check the effectiveness of the Risk Response Execution. Utilizing the risk criteria provided in the initial phase of the life cycle, as well as the requirement papers and collaboration materials that were developed during the whole life cycle, you will conduct your analysis.

Which of the following is an advantage of a functional project management organization?

As a project manager, the functional structure gives you the least amount of control, but it also provides a slew of additional benefits: It is particularly effective for small teams and small projects since the function has complete control over the team members and other resources necessary.

Project work may be a terrific way to keep your staff engaged and motivated.

What is organizational culture in project management?

The attitudes, values, beliefs, and actions of an organization’s workers, as well as its underlying assumptions, make up its organizational culture. When it comes to projects, an organization’s project culture may either make or ruin the projects that are done by that company.

Why is Organisational culture important?

Organizational culture contributes to the improvement of workflows and the direction of the decision-making process. It also assists teams in overcoming obstacles caused by uncertainty. It is easier for individuals to work together with a sense of purpose when there is a defined culture that unites employees and supports structured work procedures.

Why is it important to assess the culture of an organization before deciding what project management?

Improved processes and decision-making are aided by a positive organizational culture. It also assists teams in overcoming ambiguity-related obstacles. It is easier for individuals to work together with a sense of purpose when they have a defined culture that unites employees and encourages structured work procedures.

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Who is responsible for determining how tasks will be done in a strong matrix project management structure?

What authority has the authority to determine how tasks will be completed in a weakened matrix project management structure? The functional manager; the hierarchical structure. The command chains in a matrix system are often divided into two groups: one that runs along functional lines, and another that runs along project lines.

Which type of cost estimate is based on elements found in the work breakdown structure?

Bottom-up estimates are estimates that are generally based on estimations of items contained in the work breakdown structure and are therefore referred to as such.

At which phase is the estimates are produced?

It is typical for this estimate to be established at the project beginning phase. For ROM, the normal range of estimations is from -25 percent to +75 percent of the total. This proportion, on the other hand, will fluctuate based on how much information the project team has about the project at the time of estimating it.

What are the 4 phases of project management?

No matter what type of project you’re in charge of (large or small), you’ll go through the same four phases of project management: planning, build-up, implementation, and closeout. Planning, build-up, implementation, and closeout are the phases of project management that apply to any type of project (large or small).

What are the 5 phases of a project?

The project management process is divided into five fundamental phases, which are as follows:

  • Beginning with project planning, moving on to project execution, project monitoring and controlling, and finally project closure are all important steps.

What are the 5 steps in risk management process?

There are five steps to every successful risk management process.

  1. Identify the risk
  2. Do an analysis of the risk
  3. Determine the importance of the danger
  4. Take steps to mitigate the danger
  5. Keep an eye on the danger

What are the 7 steps of project planning?

Developing a successful project plan involves seven steps.

  • Consider your strategy to be a road map for all of your stakeholders. Break the project down into a list of deliverables
  • Consult with your team
  • Identify hazards
  • And document your findings. Make a financial plan. Add milestones to your plan. Establish rules for progress reporting

What are the 6 steps in the planning process?

The six steps are as follows:

  1. First, identify challenges and opportunities
  2. Second, inventory and predict current and future situations
  3. Third, evaluate results
  4. And fourth, provide recommendations. Formalizing alternative strategies is the next step. Step 4 – Considering and evaluating other strategies Step 5: Evaluate and compare other strategies. Choose a plan in the sixth step.

What are the steps in project planning?

Steps in the project planning process

  1. Create and analyze a business case
  2. Identify and meet with stakeholders in order to gain their approval
  3. Define the scope of the project. Establish project objectives and goals
  4. Identify the project deliverables
  5. And Create a project schedule and milestones for the project. Tasks are assigned to individuals. Performing a risk assessment

What is the purpose of estimating?

Estimating and pricing are therefore used for a variety of objectives throughout the building process, including the development and finalization of bids as well as cost management. The primary goal is to ensure that the appropriate amount of work is provided in order to keep costs under control, as well as to ensure that the appropriate possibilities for materials are examined during the project’s execution.

What is the importance of estimating?

The goal of estimating is to figure out how much a project will cost before you start working on it.

Estimation must take into account fluctuating job circumstances, the cost of supplies, the cost of labor, the availability of labor, direct job expenses, and management costs, among other factors (overhead).

What is estimating good for?

In order to assess the cost of a project before beginning work, it is necessary to estimate its costs. A thorough estimation process must take into account variables such as task circumstances and cost of supplies as well as labor prices and availability. It must also account for direct job expenses as well as management costs (overhead).

How organizational culture can influence project management

Every company’s project management occurs within the framework of the organization’s organizational culture, which is a much bigger setting. The ability to maintain a clear awareness of the larger context can assist project managers in keeping their work in sync with the goals of the business and in line with already-established procedures. Because corporate culture is often dismissed, we tend to underestimate its impact on the success of a project – whether for the better or for the worse. This is especially crucial in a teleworking setting, when it is more difficult to transmit the company culture because of distance.

It also facilitates the integration of new workers who, since they are working from home, will not be in constant contact with the rest of the firm.

Unlike other types of organizations, there is no one style of organizational culture that is superior or more productive than the others.

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In this post, we will discuss how organizational structure and business culture have an impact on the project management process.

Organizational influences on project management

Throughout every organization, project management takes place within the framework of the organization’s organizational culture, which is far more extensive than the project itself. The ability to maintain a clear awareness of the larger context can assist project managers in keeping their work in sync with the goals of the business and in line with already-established best practices. Because corporate culture is often dismissed, we tend to underestimate its impact on the success of a project – for the better or for the worse.

In order for each project to be handled in the same manner, it becomes critical that the organization’s culture is strong and well-defined.

The way that firms approach the life cycle of a project, documentation, resources, and so on can vary significantly even across companies in the same industry, and this might be due to variances in corporate culture.

Project managers must deal with the fact that they are fundamentally different from each other. Project management is influenced by organizational structure and business culture, as we shall discuss in this article.

What is corporate culture?

The term “corporate culture,” sometimes known as “organizational culture,” refers to the entire spectrum of features and components that define a corporation. The purpose is not just to distinguish a firm from its rivals, but also to function as a unifying factor through increasing communication channels among the organization’s personnel. Management, firm history, workers’ professional cultures, and other factors all contribute to the formation of corporate culture, which is founded in part on shared ideals among employees.

Where does project management fit in all this?

Having gained a grasp of what organizational culture is, we’ll go on to discuss why it is important for project managers to have a good awareness of their organization’s culture. “The culture of an organization is developed by the experiences of its people,” according to the PMI Guide to the Project Management Body of Knowledge (PMBOK Guide), 5th edition. ” Because of years’ worth of practice and frequent usage, the vast majority of organizations have formed their own distinct cultures.” The following aspects are included in these experiences:

  • Vision, purpose, values, beliefs, and expectations that everyone shares
  • Policies, techniques, and processes are all important. Incentives and reward systems that have been implemented inside a corporation Risk tolerance can be either high or low. Leadership, hierarchy, and the connection to authority are all viewed through this lens. The code of conduct, ethical standards, and working hours
  • Workplace conditions

Compared to initiatives that question organizational culture, projects that are regarded to be aligned with organizational culture are likely to have smoother implementations and greater success rates. Additionally, knowing organizational culture and how it relates to project management may assist firms in determining which initiatives to pursue and which to put on the back burner. This is a focus at Adviso, and it is applied to understanding our clients’ reality, aligning ourselves with their values and corporate culture, and being involved on a more personal level with our clients.

Organizational culture and conflict

As a result, project managers are required to work with a diverse variety of cultural systems, frequently at the same time. They are not always aware of cultural influences, and as a result, they frequently encounter disputes and misunderstandings while interacting with a variety of resources, service providers, and customers. Conflicts are frequently founded in differences in ideals, but they can also arise as a consequence of communication breakdowns inside a single organization, which are exacerbated when employees work from home.

This can result in misinterpretations and irritation among members of the team.

In this case, the ideal approach would be to specify the communication tools to be used from the commencement of the project (email, phone conversations, words to be used, definitions, and so on) and to implement and maintain clear communication throughout the project throughout the whole project.

Although some degree of conflict is unavoidable, it may frequently be avoided by knowing the cultural contexts, personalities, and personal and organizational objectives of those who are part of the group.

A reactionary, oppositional response to project hurdles or another person’s unwillingness to compromise can polarize differences, intensify disputes, and make it difficult or even impossible to complete a project.

The identification of factors that can assist in fostering a project management culture within an organization is therefore critical.

Finally, various aspects of a company’s organizational structure and culture can have an influence on the ease with which projects can be implemented and managed.

What are your thoughts?

Your company’s organizational culture is either strict or formal. Is it necessary for you to stick to a precise life cycle with defined stages in order to succeed? Is there no set life cycle for your initiatives, or do they lack one?

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