Spring-2016
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Master of
Business Administration - MBA Semester 3
PM0010-Introduction
to Project Management
(Book ID:
B1936)
Assignment
(60 Marks)
Note: Answers
for 10 marks questions should be approximately of 400 words. Each question is
followed by evaluation scheme. Each Question carries 10 marks 6 X 10=60.
Q1. Define project and also elaborate
different characteristics of a project?
What do you understand by Project
Management and also discuss its objectives?
Definition
of a Project and its characteristics - 5
Meaning of
Project Management (PM) and objectives of PM - 5
Answer. The Project Management Institute
(PMI) defines a project as “a temporary endeavour undertaken to create a unique
product or service. Projects usually include constraints and risks regarding
cost, schedule, or performance outcome.”
Q2. Explain in detail the stages of
Project Management Lifecycle with examples?
Answer. Project
Management Lifecycle
Project initiation
Initiation
is the first phase of the project management lifecycle. In this phase, a
project manager is assigned through the ‘project charter’ to plan the project
so that the project can be completed within the stipulated time. The key
purpose of this phase is to study the feasibility of the project. In addition,
decisions are also made regarding the persons going to be associated with the
project.
Q3. Explain the
various types of project plans?
Write a short note
on Financial Feasibility of a Project?
Types of
project plans - 6
Financial
Feasibility of a Project - 4
Answer. Types of
Project Plans
Financial plan: When you talk of a
financial plan, what comes to your mind? Doesn’t it occur to you that you use
financial plan in your daily lives too? A good example of financial plan is
your family budget. In project management, a financial plan estimates the
required capital to execute the project plan. The financial plan indicates the
total cost of the three M’s, namely Man, Materials and Machines so that a
schedule related to their expenses could be prepared. This helps
Q4. Discuss any two
types of Capital Budgeting Techniques in Project selection?
What are the
activities performed by procurement management?
Capital
Budgeting Techniques in Project selection - 5
Concept of
Procurement Management - 5
Answer. Capital
Budgeting Techniques in Project selection:
The ARR method
ARR is also
known as Return on Investment (ROI). It is a traditional method of evaluating
investment in a project. This method is significantly different from other
methods of project selection as it deals with the accounting profit of a
project rather than cash flow. It does not take
Q5. Discuss the
concept and objectives of project evaluation?
Briefly explain the
Planning-Monitoring-Controlling (PMC) Cycle?
Concept of
Project evaluation – 2 , Objectives - 3
Explanation
of Planning-Monitoring-Controlling (PMC) Cycle - 5
Answer. Concept of
Project Evaluation
This term
originated in the year 1842, and was derived from the French word ‘évaluation’,
which means setting the value of or appraising. Hence, project evaluation can
be defined as the process of comparing the actual advancement and performance
of a project to the planned advancement and performance. It can also be called
an interim assessment of a project at major milestones.
Q6. Discuss the
importance of controlling and types of control?
Explain the
different types of Project Termination?
Importance
of Controlling and types of control - 5
Types of
Project Termination - 5
Answer. Importance
of Controlling
Creates better
quality: Controlling
helps in achieving customer satisfaction, which, in turn, improves the quality
of the project. In the controlling process, the errors in the project are
spotted and corrective measures are taken to rectify those errors.
Spring-2016
Get solved
assignments at nominal price of Rs.125 each.
Mail us at: subjects4u@gmail.com or contact at
09882243490
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