MB0049-Project Management

SUMMER-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 project off the ground, through the race, down the stretch and across the finish line.

1) Initiation:

In this first step you provide an overview of the project in addition to the strategy you plan on using in order to achieve the desired results. During the Initiation phase you’ll appoint a project manager who in turn - based on his or her experience and skills - will select the required team members. And lest you think you need to be a Bill Gates or Donald Trump in order to see your project take on a life of it’s own, fear not: there are some great technological tools available to get you through the Initiation phase of the project management life cycle.

2) Planning:

The all-important second step of any successful project management life cycle is planning and should include a detailed breakdown and assignment of each task of your project from beginning to end. The Planning Phase will also include a risk assessment in addition to defining the criteria needed for the successful completion of each task. In short, the working process is defined, stake holders are identified and reporting frequency and channels explained.

3 & 4) Execution and Control:

Steps Three and Four take you into deeper water. When it comes to the project management cycle, execution and control just may be the most important of the five steps in that it ensures project activities are properly executed and controlled. During the Execution and Control phases, the planned solution is implemented to solve the problem specified in the project's requirements. In product and system development, a design resulting in a specific set of product requirements is created. This convergence is measured by prototypes, testing, and reviews. As the Execution and Control phases progress, groups across the organization become more deeply involved in planning for the final testing, production, and support.

Q2. List the steps involved in each process of project planning.

Q3. Write short notes on the following cost estimating tools and techniques:

• Analogous estimating

• Bottom-up estimating

• Parametric estimating

• Reserve analysis

Q4. Summarize quality control for project quality management.

Answer. Define quality control:

Quality control (QC) is a procedure or set of procedures intended to ensure that a manufactured product or performed service adheres to a defined set of quality criteria or meets the requirements of the client or customer.

QC is similar to, but not identical with, quality assurance (QA). QA is defined as a procedure or set of procedures intended to ensure that a product or service under development (before work is complete, as opposed to afterwards) meets specified requirements. QA is sometimes expressed together with QC as a single expression, quality assurance and control (QA/QC).

Q5. What is purchase cycle? Explain the key steps involved in the purchase cycle of a project.

Q6. Explain the various elements of project control.

Answer. Five Essential Elements of Project Management:

Accomplishing any task, particularly one involving multiple volunteers scattered around the country or world, is always easier when standards are in place. A strong advocate of standardization and project management, the Project Management Institute, Newtown Square, Pennsylvania, is no stranger to the methodologies of standardization and has written the book on project management--literally. A Guide to the Project Management Body of Knowledge (PMBOK Guide), published in 2000 by the Project

SUMMER-2015

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

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

09882243490