Voltas Corporate Planning/Strategy Manager Interview Questions, Process, and Tips

Three important parameters to monitor projects are progress, budget, and quality.

• Progress: Tracking the progress of a project helps ensure that it is on schedule and meeting milestones.

• Budget: Monitoring the project's budget helps control costs and identify any potential overruns.

• Quality: Assessing the quality of deliverables and outcomes ensures that the project meets the required standards.

Identifying project risks involves assessing potential threats and uncertainties that may impact project objectives.

• Conduct a thorough project analysis to identify potential risks

• Review historical data and lessons learned from similar projects

• Engage stakeholders to gather their insights and perspectives

• Perform a SWOT analysis to identify internal and external risks

• Utilize risk assessment techniques such as brainstormin...read more

Project planning for crash duration and cost involves identifying potential risks and developing contingency plans.

• Identify potential risks that could cause a project to crash

• Develop contingency plans to mitigate risks and minimize impact on duration and cost

• Regularly monitor progress and adjust plans as needed

• Examples of risks include unexpected delays, budget overruns, and resource constraints

Explaining duration crash and cost crash methods in project management

• Duration crash involves reducing the duration of a project by using the total float method, which identifies the activities with the most float and shortens them

• Cost crash involves reducing the cost of a project by using the cost duration slope method, which identifies the activities with the highest cost per unit time and reduces their duration

• Both ...read more