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You are the project manager at a manufacturer of electronic components. Your company had been a long time market leader ?

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

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Question ajoutée par Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.
Date de publication: 2019/01/09
Waseem  Ahmed Bhatti
par Waseem Ahmed Bhatti , Regional Sales Manager , Vital Mark Pharmaceuticals

The estimates should have come form the project team members .

The estimate should have accounted for the market dynamics and timing requirements

Sherif Shabaan
par Sherif Shabaan , Green Riyadh.. Site Civil Engineer , Al Fahd Company

Yes, the estimates are from the project team members

Muhammad Farooq
par Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.

C. The estimates should have come form the project team members

Badr Mebarki
par Badr Mebarki , Marketing Manager (Hands-on) , Voloc Groupe

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.

Yasser Shaaban
par Yasser Shaaban , Chief Executive Officer , SEKKA LOGISTCS

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 .  

 

Tabraiz Tanveer
par Tabraiz Tanveer , Client Relationship Manager , JSPrestige&Performance

  1. Innovate Product Line: Develop and launch advanced microchips that surpass competitors in features and quality.
  2. Improve Cost Efficiency: Reduce manufacturing costs to offer competitive pricing without sacrificing quality.
  3. Reconnect with Customers: Conduct market research to align new products with customer needs.

Immediate Steps:

  1. Assemble a cross-functional team.
  2. Begin market analysis.
  3. Kickoff R&D for new microchips.
  4. Review manufacturing processes for cost savings.
  5. Set clear project milestones.

Your success will be measured by product launch success, cost reductions, market share recovery, and improved customer satisfaction.

Amr Ramadan
par Amr Ramadan , Tax manager , Al-Rehab General Contracting Company

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

Syed Talha Ahmed
par Syed Talha Ahmed , Escalation Desk Executive/Acting Team Lead , IBEX.PAKISTAN

As the Project Manager at a leading manufacturer of electronic components, my focus is on maintaining our market leadership through:

  1. Innovation: Continuously investing in R&D to stay ahead of technological trends.
  2. Quality Control: Ensuring top-tier product quality through rigorous process improvements.
  3. Customer Relationships: Engaging closely with clients to meet their evolving needs.
  4. Operational Efficiency: Streamlining operations to reduce costs while maintaining quality.
  5. Market Adaptation: Staying agile to quickly respond to market changes and competitor actions.

These strategies help us sustain our position as a market leader in a competitive industry.

Maher Khalaf
par Maher Khalaf , General Manager , JOR Graphene Car Care Center

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.

Wycliffe KERORO
par Wycliffe KERORO , Receptionist/Salesperson/Storekeeper/Assistant Accountant , Aqua Delight Investment Limited

Having one strategy without a back up plan in case it does not materialize.

Shankarmoni Kar
par Shankarmoni Kar , Sales Executive , Reliance Nippon Life Insurance Company

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.

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