PM0015–Quantitaive Methods in Project Management

SUMMER-2015

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Master of Business Administration- MBA Semester 4

PM0015–Quantitaive Methods in Project Management-4 Credits

(Book ID: B2011)

Assignment (60 Marks)

Note: Answer all questions must be written within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60.

Q1. Explain how Kano model is used by companies to analyse customer needs.

Answer. Balanced scorecard model:

The balanced scorecard has evolved from its early use as a simple performance measurement framework to a full strategic planning and management system. The “new” balanced scorecard transforms an organization’s strategic plan from an attractive but passive document into the "marching orders" for the organization on a daily basis. It provides a framework that not only provides performance measurements, but helps planners

Q2. a. Explain the concept of expected value.

b. Suppose project A and B are under construction. The possible profit outcomes of project A are USD 1000 (0.4 probability) and USD 300 (0.6 probability). Project B has profit outcomes of USD 900 (0.6 probability) and 200 (0.4 probability). Calculate the expected values of profit to be generated by the two projects.

Answer. a. Elucidate the concept of expected value:

In statistics and probability analysis, expected value is calculated by multiplying each of the possible outcomes by the likelihood that each outcome will occur, and summing all of those values. By calculating expected values, investors can choose the scenario that is most likely to give them their desired outcome.

The concept of expected value of a random variable is one of the most important concepts in probability theory. It was first devised in the 17th

Q3. Write short notes on:

a. Project scoping process

b. Resource assignment matrix

Answer. a. Project scoping process:

The project scoping process is the first step in the project development process. This process is undertaken to determine what the project should entail and what potential impacts exist.

It involves identifying and describing the work that is needed to produce the product of the project in sufficient detail to ensure that:

1. The project team understands

Q4. Explain the various expense items in a project.

Answer. At some point in your organization, your plan for your future will include a look at your income and expenses. You may find jotting a budget easy. Others prefer never to have to look at the budget part of their activities and rely on their fiscal department or someone else to take care of all “that money stuff.” If you are one of the latter types, seek skills about managing money, funding, and budgeting, so you can understand and direct your

Q5. What are the major steps in time management process? What is rolling wave planning?

Answer. The Steps of the Time Management Process

1. Defining Activities

When it comes to a project, there are a few levels for identifying activities. First of all, the high-level requirements are broken down into high-level tasks or deliverables.

Then, based on the task granularity, the

Q6. What are the steps that should be followed to construct a “house of quality”?

Answer. The Voice of the Customers

The initial steps in forming the House of Quality include determining, clarifying, and specifying the customers’ needs. These steps lay the foundation for a clearly defined venture and will ensure a project or process is well thought out prior to any further development. Clarifying Customer Needs Customers buy benefits and producers offer features. This seems like a relatively simple notion, however, unless customers and producers are perfectly in

SUMMER-2015

Get solved assignments at nominal price of Rs.120 each.

Mail us at: subjects4u@gmail.com or contact at

09882243490