ML0018 Project Management in Retail

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DRIVE

fall 2017

PROGRAM

Master of Business Administration - MBA

SEMESTER

IV

SUBJECT CODE & NAME

ML0018

Project Management in Retail       

Q.1: Explain in detail Project Planning Process.

Detail explanation of Project Planning Process.

Ans:

Detail explanation of Project Planning Process:

The project planning process involves a number of stages that we shall discuss subsequently:

Identification and Prioritization

Q.2: What do you understand by Resource Smoothing and Resource Levelling?

Network diagrams drawn based on the work breakdown structure and the critical path identified on it are based on ideal condition of abundance of resources.

ANS:

Network diagrams drawn based on the work breakdown structure and the critical path identified on it are based on ideal condition of abundance of resources:

Network diagrams drawn based on the work breakdown structure and the critical path identified on it are based on ideal

Q.3: What are the different aspects of retail project execution?

Retail project execution involves several people and teams with different skills, ability and priorities, constant co-ordination and adjustment in planned activities, conflict with routine operations of business because of overlapping retail project organization structure and several such issues.

ANS:

Retail project execution involves several people and teams with different skills, ability and priorities, constant co-ordination and adjustment in planned activities, conflict with routine operations of business because of overlapping retail project organization structure and several such issues:

Retail project execution is different from routine operations. Important characteristics of retail project execution are listed as follows:

High Degree of Interaction with Agencies: A retail project team's interface with other agencies within the company and outside is very frequent. Rather, the functioning of retail project team depends entirely on interface management. Purchase, stores, finance, manpower planning, internal audit, engineering,

Q.4: Write notes on the Execution stage and Completion stage of retail project life cycle.

During the planning stage subcontracts are given, teams and sub-teams are formed, team leaders are appointed, coordination is established, documentations are designed and reporting system is developed.

ANS:

During the planning stage subcontracts are given, teams and sub-teams are formed, team leaders are appointed, coordination is established, documentations are designed and reporting system is developed:

Q.5: What do you understand by Retail Strategy? Discuss any 3 types of Growth Direction.

Retail strategy comprises several important dimensions.

Explanation of 3 growth direction

ANS:

Retail strategy comprises several important dimensions:

• The retailer’s target market mix.

• Retail format

• Sustainable competitive advantage

Explanation of 3 growth direction:

• The retailer’s target market: It is the market segment towards which the retailer plans to focus its resources

Q.6: Write notes on: Decision rules & Decision-Tree Approach.

Decision rules are of various types.

ANS:

Decision rules are of various types:

Four different decision rules are discussed in this section. They include:

(i) E-V rule or mean-variance rule:

The expected return and variance (or standard deviation) are compared for taking a decision. It is also called the ‘

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