Management Test

1. Projects are the "building blocks" of strategy because they serve as the most basic tools by which firms can implement previously formulated objectives and strategies. Strategy implementation requires the coordination of managerial, technological, financial and functional assets to reinforce and support strategies. Projects often serve as the means by which strategy implementation is actually realized. Finally, strategy evaluation requires an ability to measure results and provide feedback to all concerned parties.

2. Objectives are the goals that the organization strives to achieve. They are reflected in performance metrics, strategic plans, and mission statements and anyplace where employees need reminding of the importance of their work. The strategy is the action plan that is going to enable the organization to achieve its objectives.

3. Stakeholder analysis is the process of identifying the individuals or groups that are likely to affect or be affected by a proposed action, and sorting them according to their impact on the action and the impact the action will have on them. This information is used to assess how the interests of those stakeholders should be addressed in a project plan. Project stakeholders are either internal to the company or external, each of these groups must be managed in a systematic manner; the process moves from identification to needs assessment, choice of strategy, and routine evaluation and adjustment. Stakeholder management forms the context by which projects are first evaluated and then managed.

a. Stakeholder Analysis

i. Identify the stock holders

1. Software users (customers)

2. Project team

3. Software developers

4. Top Management

5. External environment

6. Accounting

b. The key stakeholder in this case is software user, since the result of the update will have a direct effect on his activities, when doing a project like this the first thing we need to do is to talk to the users (customers) so as to revise with them the features they'd like to improve on the version they already have. In fact, in every single project we do, the customer must be what driving factor, remember that if the customers are satisfied with our product or service, the chance to have a successful project increase in a considerable way, of course we need to keep in mind the budget given to us so as to make the company earn some profit as well.

4. In my opinion the organization needs to implement the control tower mode, since in its role in controlling project initiation and enforcing standards for new projects steps on the toes of sensitive functional managers. But emerging from