Institute of Chartered Financial Analysts of India (ICFAI) University 2008 Certification Certified Financial Planner Portfolio management - Question Paper
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business. Both parties follow the illusion of good project management by pretending they know how to meet business milestones
while in reality they are headed for failure. The ERP project team consists of diverse personnel from across the organization,
hence managing such a team is a great challenge. Besides, waterfall approach which was used before contains erroneous
assumptions that negatively affect the ERP projects. Challenges in ERP projects could be managed by using three-key aspects;
staging, risk sharing and people.
An ERP project must be agile in the sense that it must support rapid and flexible adaptation to modifications in the process, product,
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business and deployment environment. It should be adaptable to both internal and external events. The project should be modular
and lean. Also, it should be based on work cycles, which contain feedback loops, checkpoints and guidance. ERP project provides
flexibility in the investment structure depending on the info received. This flexibility allows decisions to be made under
uncertainty.
Current business demands attention that must be provided to other aspects as well. The demand includes finding out a method to
avg. out the requirements of all functional areas of the firm in a way that meets all needs, formulating a team that has an up to
date knowledge on all relevant problems and setting out the specific targets that the ERP implementation must achieve.
END OF CASELET 1
Caselet 2
learn the caselet carefully and ans the subsequent questions:
8. The project manager responsible for the change project should concentrate on the strategic perspective by integrating the change
project with management objectives. In light of this, discuss how a project manager can bring strategic perspective in project
change management. ( nine marks)
9. Having opted the important strategy to change, the project leader looks forward to implementing it in a systematic manner.
explain the different steps involved in the implementation of strategy to change. ( 10 marks)
Many organizations have used "Change" as an effective strategy to accomplish several well-defined objectives. Project change
management refers to redefining the ongoing procedures and applying change in an improper manner. In other words, project
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