Please reply to both POST1: and POST2: in at least 200 words each Original discussion post:
Module 2: Discussion Forum

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the process of using data analysis during the Plan Project Management
process (please note that data gathering and data analysis are two of
the tools and techniques that the PMBOK® Guide identifies for Plan
Procurement Management. See Part 1, Section 12.1.2 to find out more).What are some of the positive and negative outcomes if data analysis is not conducted properly during the Plan Project Management process?POST1:The
significance of data analysis for a project manager should never be
underestimated for the collection and analyzing of industry data serves
many purposes, such as supporting informed decision making, certifying
compliance with business policies, confirmation of proper function of
existing controls, reconciliation of statistics across contrasting
systems, and quick utilization of system solutions (Kim, & Ki-Seok
Choi, 2018). There are two data analysis techniques used when creating
the project procurement management plan. The make-or-buy analysis that
involves comparing the internal costs of providing a product with the
cost of outsourcing; and source selection which is a set of features
desired by the buyer which a seller is required to meet or exceed to be
selected for a qualifying vendor contract (Baily, Farmer, Crocker,
Jessop, & Jones, 2015).The impact from this data is critical to any project’s planning
functions therefore analysis must be well directed. The initial approach
to analyzing data in project management is collecting information from
various sources and converting it into a presentable format for
demonstrating and making estimates. This involves collecting and
recording data from business processes, including quantitative data such
as time sequences, occurrence rates, and extent of deviations of
processes from the standard mean; and qualitative data such as customer
complaints, incidence reports, daily status reports, and more. Then next
step includes examining the collected data to correct errors, remove
discrepancies, and eliminate unnecessary and unrelated data. The actual
data analysis is either an exploratory approach that discovers
something new, such as trends or probabilities; or a confirmatory
approach that validates assumptions and establishes controls (Kim, &
Ki-Seok Choi, 2018).The performances of the analysis are decided by the finishing
results. If the results achieve the reduction of expenditures or costs,
improve product and service quality then the analysis was conducted
well and successfully. If data analysis results damage the project due
to missing scheduled deadlines and overage on budget, or poor quality
performance or overall failure then the analysis was conducted poorly
(PMI, 2017).ReferenceProject Management Institute. (2017). A guide to the project management body of knowledge (PMBOK® Guide) (6th ed.). Newton Square, PA: PMI PublicationsBaily, P., Farmer, D., Crocker, B., Jessop, D., & Jones, D.
(2015). Procurement, Principles & Management (11th ed). United
Kingdom: Pearson (Intl) IncKim, Jong Won, Young Jun Yoon, Minwoo Park, and Ki-Seok Choi. 2018.
“Analysis of Privacy Protection for Joint Use of National R&D
Project Evaluation History Data.” Indian Journal of Public Health Research & Development 9 (8): 1005–9. Morning Class,Data Analysis during the Plan Project Management ProcessDuring the planning phase of project management, data analysis must
be done to fully understand the next steps. This process is often called
make-or-buy analysis which is exactly what it sounds like. PMI states, A
make-or-buy analysis is used to determine whether work or deliverables
can best be accomplished by the project team or should be purchased from
outside sources (2017). In a previous company, I worked with we
manufactured and sold many different types of food. As the company grew
we acquired a few different plants where we could manufacture our
products, as well as giving other companies the option to co-pack or pay
us to pack products. In one facility we manufactured all of our
sandwiches and what we called Anytimers, which are just Lunchables that
meet USDA nutritional guidelines for K-12 Schools. During the operation
of this plant, we were approached by Walmart and we co-packed their
Lunchable style options for them. This all being said both our company
along with Walmart needed to employ the analysis of make-or-buy to see
what would be more profitable for each perspective company.Some positives would be: Reduction of cost, creating efficiencies,
enhanced and quicker decisions. All of these would create a perceived
increase in customer satisfaction (Alexander, 2017). Alternatively, some
negative outcomes could be added cost, struggling to meet deadlines,
both could result in not meeting project requirements that would damage
the reputation of the company (Six,2019)References:Alexander, M. (2017, March 20). How to use data analytics to improve
project outcomes. Retrieved February 17, 2020, from…Project Management Institute. (2017). A guide to the project management body of knowledge (PMBOK® Guide) (6th ed.). Newton Square, PA: PMI PublicationsSix, T. (2019, February 13). 7 Impacts of Poor Risk Management (And
What You Can Do About Them). Retrieved February 17, 2020, from…

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