FALL-2015
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Master of Business Administration- MBA
Semester 2
MB0049-Project Management-4 Credits
(Book ID: B1632)
Assignment
(60 Marks)
Note:
Answer all questions within 300 to 400 words each. Each Question carries 10 marks
6 X 10=60
Q1. Explain the various phases of the project management life
cycle.
Answer. List and describe the various phases
of the project management life cycle:-
The Five Steps in the PM Life Cycle
No
matter what project it is that you’re preparing for, the project management
life cycle can assist you and your team in narrowing the project's focus,
keeping it's objectives in order and finishing the project on time, on budget
and with a minimum of headaches.
Every project management
life cycle contains five steps: Initiation, Planning, Execution,
Monitoring/Control and Closure. No one step is more important than the other
and each step plays a crucial role in getting your
Q2. Write short notes on:
1.
Economic feasibility of a project
2.
Need for project planning
3.
Diversity management
4.
Rules for network construction
Answer. 1. Economic feasibility
A feasibility study may also include an economic
analysis of the project. The purpose of economic analysis is to determine
whether there is an economic case for the investment decision. This assessment
goes beyond the items typically included in a financial analysis. Economic
feasibility is interested in:
1. the economic benefits from the project
2. the economic costs of the project
3. the balance of these expressed in present value
terms (the net economic benefit)
Economic costs and benefits are not always the same
as financial cost and benefits. Economic analysis includes project impacts that
do not have a market price and positive and negative impacts that are
experienced by people who are not the direct users of the services. It is in
this way that economic analysis casts a broader
Q3. What are the key steps for effective risk management? Explain
any FIVE risk identification techniques.
Answer. Step 1: Identify the Risk. You
and your team uncover, recognize and describe risks that might affect your
project or its outcomes. There are a number of techniques you can use to find
project risks. During this step you start to prepare your Project Risk Register.
Step 2: Analyze the risk. Once risks are
identified you determine the likelihood and consequence of each risk. You
develop an understanding of the nature of the risk and its potential to affect
project goals and objectives. This information is also input to your Project
Risk Register.
Q4. Write
short notes on
1.
Parametric estimating tool of cost estimating
2.
Procurement process
3.
Project team’s responsibilities in project
execution
4.
Project termination
Answer. 1. 4 Tools to Estimate Costs in the Project Management:
In the Estimate
Costs process, the cost of each project activity is estimated. An interesting
thing about this process is that it also uses the same three tools used in the
Estimate Activity Duration process. In the estimate activity duration process,
you were determining the time taken by each activity and now, in estimating
costs process, you have to calculate the total cost of the project.
In this process,
the cost of each activity is determined, which includes the cost of human hours,
the cost of equipment, and the
Q5. What is Quality planning? Explain the inputs, tools and
techniques and outcomes of quality planning.
Answer: Quality planning is the creation
of an actionable plan that defines and ensures quality from concept to
delivery. During the planning process, steps to measure and maintain quality
are inserted at every level, from setting objectives to establishing policies
and procedures. In this situation, a company would either establish a quality
planning team that makes revisions to an original plan, imbeds quality planning
procedures in their regular planning process or replace the planning process
entirely. Here is an overview of the quality
Q6. Describe
the various types of project performance evaluation techniques. List any FOUR benefits
of performance measurement and evaluation.
Answer. 4 types of project performance evaluation techniques:
1. Ecological Assessment
Completing an
ecological assessment of a wetland prior to its disturbance is a critical first
step to achieving a successful mitigation project. Wetland mitigation must be
based on an understanding and quantification of the ecological functions that
exist prior to disturbance (Richardson, 1994). Ecological assessment is defined
here as an assessment of the entire wetland system and includes evaluation of
both the biotic and
FALL-2015
Get solved
assignments at nominal price of Rs.125 each.
Any issues
mail us at: subjects4u@gmail.com or contact at
09882243490
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