The rate of return (R) is used as the discount rate for future cash flows to account for the time value of money. Companies may often have different ways of identifying the discount rate. Common methods for determining the discount rate include using the expected return of other investment choices with a similar level of risk, or the costs…[Read more]

Combination product is a product composed of any combination (i.e., drug/device, biologic/device, drug/biologic, or drug/device/biologic). Infuse bone graft is a combination product which consists a protein that is found in everyone’s body and a natural carrier for delivery. Infuse bone graft eliminates the need for the harvest surgery, a…[Read more]

Mechanical failure could be one of a product risk. Several things I would like to do to evaluate and manage risk for example I would assess the potential effects of the risk on my project then develop a plan to mitigate or eliminate the effects of that risk, monitor the status of my project’s risk throughout the process, and inform team members w…[Read more]

Last year in medical device course, I submitted a project proposal on device called “Indirect Video Laryngoscope”. The purpose of that device is to make the process of intubation easier and quicker to perform. It can also be used for detailed examination of larynx and vocal cords. Indirect Video laryngoscope advance in technology helps doctors vis…[Read more]

I was working on my class project; at the beginning, I had to estimate project cost. I calculated the total project budget should not cost more than $90. However, by the time I finished my project, it ended up cost me 40$ more than I estimated due to some defective motors which needed to be reordered and replaced. By the deadline, I only completed…[Read more]

Monitoring and controlling a project is a process to track, review and revise the project activities which can be done by project manager to ensure the project is on right track and creates the deliverables in accordance with the project activities. I think projects that adaptive and extreme are least stable than traditional projects because…[Read more]

One challenge project manager face is lack of accountability. A project manager always should clearly state or define each team member’s rules and responsibilities which includes managing the expectations of stakeholders who are financing the project but not involved directly with the project, finger-pointing and avoiding blame are u…[Read more]

There are various obstacles come across if you are taking a company globally. As my other classmates discussed in above posts, I would like to add some points.
1.Be aware of national and religious holidays- holidays might affect a team members. As a project manager you should know which holidays are particularly important to team members.
2.Be…[Read more]

Time estimation is important can be used to organize and structure all projects. Using good time estimation techniques may save time, and money. First, project manager should familiar with the task to be carried out and understand the project outcomes well; this might be one of the reason that team can underestimate the time duration if project…[Read more]

Missing a milestone is not bad at once; however, missing more than 2 milestones lead to significant reductions in customer satisfaction and confidence which is bad for company’s reputation. It could be avoid by examining key possibilities in detail that can get to the root cause of the problem and get the project team back on track toward on t…[Read more]

Time management is crucial for any project. If I would be a project manager for this week’s simulation, I would like each team members to read simulation’s instruction and find related articles that help towards this simulation at least by Monday night. Then each team member can discuss their findings in the forum and come up with an idea or sol…[Read more]

I was working on my class project called “Quadruped Spider robot” which was built in 3D printer and powered by Arduino. Many obstacles came across during the project which caused a delay. The main issue was 3D printing parts which were not working in special specifications as wanted. The exact moment and programming were complicated for 3 deg…[Read more]

Work breakdown structure (WBS) helps improve the future project estimation, has better control executing the project, and also helps speeding up the project process. In my opinion, WBS won’t work in some environment, especially in learning process, where everyone should know each and every project details and tasks. While I am still in learning p…[Read more]

Work breakdown structure (WBS) helps improve the future project estimation, has better control executing the project, and also helps speeding up the project process. In my opinion, WBS won’t work in some environment, especially in learning process, where everyone should know each and every project details and tasks. While I am still in learning p…[Read more]

This topic is very interesting. I think this is the most common problem while working in team. I have experienced this situation many times due to lack of communication, delay in replying and most important when the team members rely on each other to get things done. While working in company, it is not possible to rely on each other completely…[Read more]

I agree with jvv6, it completely depends on the project if someone has previous experience with similar project can start with minimal information about new project with confident. However, if the project is new then required lot of research and risk analyses before initiating a project. In my opinion, first, you need to start gathering data about…[Read more]

sorry i posted on wrong place

I agree with jvv6, it completely depends on the project if someone has previous experience with similar project can start with minimal information about new project with confident. However, if the project is new then required lot of research and risk analyses before initiating a project. In my opinion, first, you need to start gathering data about…[Read more]