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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

Ahmed Mujtaba khan
par Ahmed Mujtaba khan , General Manager Marketing And Sales , Bio-Labs Pvt Ltd

Option C is a right approach to estimate the timeline of the project that project team should be involved in the process as the result team will own the overall project and will make their full input to successful implementation of the project. 

Ihsan Idelby
par Ihsan Idelby , General Manager , Sanrock Hotel

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

In project management, especially for complex projects requiring specialized knowledge, estimates for individual tasks or activities are best provided by those responsible for executing them. This approach improves accuracy, fosters accountability, and ensures that team members are committed to the timeline, as they contributed to its creation. By estimating the timeline alone, you risk overlooking important details that team members with firsthand expertise can provide, potentially leading to unrealistic or inaccurate project timelines.

Here’s why the other options are less applicable:

  • A. The estimates should have been created by management: Management generally sets overall objectives, budgets, and strategic directions but typically does not get involved in the granular task-level estimating.
  • B. The project sponsor should have been actively involved in producing the estimates: The sponsor usually oversees the project from a strategic perspective, providing resources and approvals, but does not contribute to detailed schedule estimation.
  • D. The estimate should have accounted for the market dynamics and timing requirements: While market timing is relevant, the issue in question focuses on the method of creating the estimate, not the broader market factors affecting the project.

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

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.

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.

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.

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.

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 .  

 

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