- From Unit 5, what is most useful technique/tool you have learned to control project quality, and why?
Answer: Cost-to-Benefit Analysis. Because the cost of prevention is more often part of the project budget, the case must be made for increasing the project budget to raise quality. Some quality management programs, like Six Sigma, require that expenditures for quality are justified using a cost-to-benefit analysis that is similar to calculating the cost of quality, except that it is a ratio of cost of increasing quality to the resulting benefit.
- In your opinion, what are top three risks for managing a large project? Please give a few examples for each identified risk.
Answer: Top three risk of managing a large project are:
Safety Risk : The fatal case causing loss of life in a construction project can badly effect the organisation causing loss of fund, loss of reputation and substantial delay in project.
Risk from quality issues: Rework & repair always increases project cost and delay.
Availability of resources: Non availability of necessary resource like a high capacity crane during critical erection work or reinforcing concrete during casting of slab.
- What is Six Sigma? How does the Six Sigma relate to project management practices?
Answer: Six Sigma is a set of management techniques intended to improve business processes by greatly reducing the probability that an error or defect will occur.
The Six Sigma focuses on better understanding of customer requirements, improving business systems throughout the organization, and enhancing the organization’s financial performance.