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in electronic components distribution industry. However, in recent years, the Internet has transformed the competitive landscape. As a result company's market share has been eroding. Hence, your current project involves implementing the company's internet strategies to best exploit these altered dynamics and increase the company's market share. You are in the project planning process, and are personally estimating the time needed for each activity. Once you've created the overall project estimate. You commit to completing the project deliverables to this date. Which of the following BEST explains why this is the INCORRECT way to estimate the schedule? A. The estimates should have been created by management B. The project sponsor should have been actively involved in producing the estimates C. The estimates should have come form the project team members D. The estimate should have accounted for the market dynamics and timing requirements
The estimates should have come form the project team members .
The estimate should have accounted for the market dynamics and timing requirements
Yes, the estimates are from the project team members
C. The estimates should have come form the project team members
C. The estimates should have come from the project team members.
This is because project estimates should ideally be created by the people who will be doing the actual work. Involving the team members in the estimation process ensures accuracy and ownership, as they have the hands-on experience and knowledge of what is required for each activity. By solely creating the estimates yourself, you risk overlooking important details or underestimating the effort needed, which can lead to scheduling issues later on.
I have to identify -first- teh strength of my company, its weakness, opportunities and threat, What is my current positioning among other competitors?
Part of the budget need to go for intelligent reports and R&D,visiting current customers to know more about what they like and what they not like in our products and services.
Current supply chain need to be reviewed for better cost optimization and for looking for international geographical opportinities for amrket penetration.
Diversify products by creating new star products that attaract majority of consumers within the market .
Immediate Steps:
Your success will be measured by product launch success, cost reductions, market share recovery, and improved customer satisfaction.
Estimates should come from project team members taking into account market requirements and precise knowledge of time and execution
Under the supervision of the Executive Director
As the Project Manager at a leading manufacturer of electronic components, my focus is on maintaining our market leadership through:
These strategies help us sustain our position as a market leader in a competitive industry.
International companies often change their Marketing & Sales strategies due to shifting market dynamics, competitive pressures, and technological advancements. Adapting to evolving consumer behaviors and localizing strategies for new markets also necessitates frequent updates. Additionally, feedback and performance metrics drive strategic adjustments to enhance effectiveness and maintain competitiveness.
Having one strategy without a back up plan in case it does not materialize.
D.The estimate should have accounted for the market dynamics and timing requirements.
explaination- Market is ever changing, so need to estimate all the avenues of market, econimics, budget and teams effort with time.
