Q- Negotiations should be concluded by a deciding third party.

Consider the case study of cococola

and relate why final decision regarding its ban should be taken by a deciding third party.

Despite having serious detriments, Coca cola is considered to be one of the top selling drink in the
entire world. Various negotiations have been done in this regard and most of the parties oppose
trading of such drinks. The opposing parties imply that its ban should be imposed right away after
having superior hand in negotiation. But, on the other hand, the parties that promote selling of
drinks prefer the other thought that

The PMBOK knowledge area suggests work break down structure aims at breaking the tasks of the
project into work packages which are themselves treated as a smaller project by themselves and get
numbered.

The PRINCE2 recommends that the numbering of the packages is to be structured well and must be
consistent, as inconsistency leads to erroneous interpretations. Though ordinality has been highly
recommended in the literature, the purpose of numbering work packages is not documented
practically and are still illusive.

A comparison between the principles and knowledge area of two organizations defining standards
and guidelines for project development, PMBOK and PRINCE, has been demonstrated.

On one side, the knowledge area of PMBOK delineates about the objective of Work breakdown
structure is to break the entire project task into smaller packages. These smaller work packages are
considered sub projects under the major project and are sequenced on priority basis.

On the other hand, PRINCE2 proposes efficient and consistent structuring of the package sequences.
Otherwise, inconsistency in the sequence structure of work packages might result in faulty results.
Despite after furnishing high recommendations in the paper regarding the same, no sufficient and
practical documentation has been provided regarding sequencing the work packages.

Latex

Latex- Laytec

document preparation system

not word processing system

compiler

source file- .tex

excutable file- .aux file

not what you see is what I get

not WYSIWIG
first install miktex (La Tex package)

Text Editor (software): winedt

Winshell

texstudio

Basic document structure

document class (#template)

(#els_article class is used most for assignments)

look for a .cls file

.eps & .tiff (for image)

for jpeg and png, include package \usepackage(eps figure)

23/11/2018

1. PMBoK-9 known areas (The Project Management Body of Knowledge is a set of

standard terminology and guidelines (a body of knowledge) for project management. )

Knowledge areas:

 Integration management
 Project scope Management
 Project Time Management
 Project Cost Management
 Project Quality Management
 Project HR Management
 Project Communication Management
 Project Risk Management
 Project Procurement Management
Project lifecycle phases

 Initiating & Planning

 Governance & Control
 Execution & Closing

Every knowledge area comprises of- Input| Tools & Techniques| Outputs (ITTOS)

Project lifecycle phases explained

Initiating & Planning

Project baseline is decided (Budget, Scope, timeline/schedule/time objective)

Scope-things that must be there, things that should be there, things that could be there/ things that
shouldn’t be there

Generally, scope change does not occur, but if it is under cost and budget then it is acceptable.

Cost baseline, project stops if the budget exceeds when project development initiates.

Quality- Internal & External quality checks

Mutual agreed quality standards

Gate meetings (after every module completion)

HR- Role and responsibility defining

People- responsible, accountable, consulted and informed

Stakeholders- related directly or indirectly with the project

Stakeholder prioritization

Power-Interest Grid

The power that a stakeholder has and how he is associated with project and get treated accordingly.
Negotiations is done accordingly.

Procurement

Negotiation & procurement goes hand in hand.

Preparation of document and negotiation.

Risk

Both Unseen opportunities, and unseen uncertainties come

Mitigation of risks or exploitation of opportunities is also crucial

Risk

High| Medium| Low