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Showing posts from November, 2022

THIRD PARTY INSPECTION IS SIMPLE, RIGHT?

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“After having considered, "this man can accomplish this, by these means", let (the king) leave with him the discharge of that duty” – The Thirukkural Organizations have a team of people in their Quality Control department to monitor and manage the project's or product's quality. When it comes to the Product, these individuals will periodically measure its various parameters and determine whether or not production is proceeding according to plan. By regulating the several manufacturing processes, deviations, if any, are addressed during the production phase itself. When it comes to projects, the project manager and his team assess the timeline, cost, quality, and other factors to determine the present status. After making thorough analysis, the report is presented in the monthly meeting to the sponsor and the stakeholders. Deviations are got approved in this meeting. Some firms rely on unbiased third party inspections to maintain strict quality standards. For insta

The Engineer’s tryst with destiny

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  The Engineer’s tryst with destiny “There’s a blessing in everything that happens to us.” – Kamaru Usman   During the outbreak of the Corona pandemic in 2020, the entire world was locked down. While the Doctors & other medical professionals had to toil with the Corona patients, and the Police had to keep strict surveillance to curb any public movements, the Engineers had to do their part to ensure that the telecom/IT infrastructure remained operational so that everyone could stay informed about what was happening everywhere. It was the combined efforts of all the Public servants that made us overcome the Corona. As an Electrical Engineer for a Telecom Company at the time, I had to keep an eye on whether all the HVAC and electrical equipment in the significant telecom sites were providing continuous service. Due to the suspension of public transportation, I had to travel about 100-150 km every day on my bike to visit a number of installations. About 65 kilometres away from

Risks: Do you really manage them?

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  Risks: Do you really manage them?   “Weigh the strengths of the task, yourselves, Opponents, and allies before acting” –   The  Thirukkural     Last week, I got a call from one of my pals. He requested that I wake him up at 3 AM the following morning so that he may catch his 6 AM flight for his business trip to New Delhi. Most of you will assume that I am an early bird right away. But that is not the case. I used to stay up till three in the morning since I have a sleep disorder condition. My friend took advantage of my problem and turned it into his opportunity. But, as I was afraid to take on this responsibility, I asked him to set an alarm in his mobile. He claimed to have already done so and that as a second alert, he had considered asking for my assistance.   I came to understand that he handled the risk management. He could not afford to miss the trip because it was so crucial for his business. He therefore created a primary risk plan by setting an alarm for three in th

Payback: Does it truly pay off?

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  Payback: Does it truly pay off?   “Disappointment will come when your effort does not give you the expected return” – Chetan Bhagat In the previous post, We spoke about how crucial it is to properly conduct the Initiating process before approving any project proposal. Any project is the product of the Company's ambition to meet its requirements for ongoing sustenance, expansion, and growth. As a result, the Company invests a large sum in the project in order to reap the rewards. The business requirements for which the project was undertaken are satisfied once the project's deliverables have been completed. As a result, the new business will begin financially repaying the corporation with increased revenues, profits, etc. The corporation will continue to reap the rewards every year, and eventually the profits will outweigh the overall investment made in the project. If the project covers its whole cost in five years, the subsequent returns are free, allowing the busi

For the project to succeed, get off to a good start

  For the project to succeed, get off to a good start. “ Well begun is half done” - Aristotle Any organisation won't start a project right away after the Sponsor gives it the thumbs-up. The Project Sponsor and all the key stakeholders come together to define the Project's goals in a clear statement as part of a formal process called initiating. For those who are unfamiliar with project management, the term sponsor simply refers to the body that authorises the project's financial expenditures. All those who have an impact on the project or who are impacted by it are considered stakeholders. In the Initiating process, the business need as well as the benefits due to the proposed solutions are evaluated by the Project Sponsor alongwith the stakeholders and if necessary a Feasibility study is undertaken by a team which is appointed by the Sponsor. Invariably, Benefit-cost analysis is worked out and if the benefits outweigh the costs, the project is then taken into conside