One of the most common challenges in project management is to be able to fulfill
ID: 455638 • Letter: O
Question
One of the most common challenges in project management is to be able to fulfill the triple constraint. Part A of this homework is an analysis about Wal-Mart expanding into Russia. If you were a project manager hired by Wal-Mart to build and maintain relationships with quality suppliers in Russia, what would your challenges be as the project manager in trying to fulfill the triple constraint while doing your job? State the challenges that you would face and how you would address each of those challenges.
Explanation / Answer
The triple constraints are those of time, cost and scope and the central theme is that of quality. The projects must be delivered on time, must be delivered within cost and must meet the agreed scope.
The challenges that a project manager will face when trying to fulfill the triple constraints and ways of overcoming those challenges are:
(i) The first key challenge is to adhere to the finite budget while trying to find quality suppliers in Russia and then build and maintain a sustainable relationship with thos suppliers. Finding quality suppliers in a new market can demand resources in terms of time as well as cost. The main challenge is to stay within the budgeted cost, while ensuring that the suppliers are high quality organizations and worthy of being associated with Walmart. This challenge can be addressed by seeking the help of local business advisory and consultancy firms.
(ii) The second key challenge is that of time. As a project manager, you are expected to find and then establish business relationships with quality suppliers within a given time frame. Time is of utmost importance when expanding in a new market and if there is any delay in finding quality suppliers, then the expansion plan may get stalled or delayed. Thus, the key challenge is to find and then establish business relationships with quality suppliers within a given time frame or a suitable time frame. The challenge can be overcome by clearly defining the selection criteria beforehand and then identifying the various suppliers who meet the pre-defined criteria's. Performance gaps associated with the shortlisted suppliers, if any, can be measured by using self-assessment questionnaire.
(iii) The last challenge is in terms of scope. The scope of the project is to build and maintain relationships with quality suppliers in Russia. This is a crucial aspect and will help Wal-Mart establish a firm footing in Russia. The challenge is to properly define the scope and understand it from the start. The challenge can be overcome by strictly adhering to the pre-defined scope of this project which is to build and maintain relationships with quality suppliers in Russia and not deviating from it.
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