PM0011-Project Planning and Scheduling

Winter-2015

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Master of Business Administration - MBA Semester 3

PM0011-Project Planning and Scheduling

(Book ID: B1937)

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. Write short note on:

Ø  Project deliverables

Ø  Project Rating Index(PRI)

Ø  Scope change control

Ø  Partnering

Answer. Project Deliverables:

In project management, a deliverable is a product or service that is given to your client. A deliverable usually has a due date and is tangible, measurable and specific. A deliverable can be given to either an external or internal customer and satisfies a milestone or due date that is created and produced in the project plan. A deliverable can be a software product, a design

Q2. Budget Estimation of ABC Company Ltd.

ABC Company Ltd., established in 1985, is engaged in the manufacturing of leather accessories. Over the years, the company, which started out as a local firm, has made its mark as an international corporation. However, the company is still working as a traditional set up.

The high quality and durability of products have increased the demand of the products in the market. As the production of the organisation is being increased to meet the demand, the traditional set up is creating hurdles in the production process.

Organisation conflicts have arisen among the team members because of the unorganized hierarchical structure of the company, which is affecting the output of the organisation. Now that the management has decided to expand the business and opened up branches abroad, the company is facing two more problems. The first problem is in budgeting as the company is unfamiliar with international market conditions, strategy, and business policy while the second problem is conflicts at the time of team formation due to lack of experience of and exposure to multinational work culture, which has further affected the output of the company.

The company can estimate the budget through two methods, the bottom - up approach and the top - down approach. The bottom -up approach is generally followed by the MNCs as it is more accurate and reliable.

Mr.Parag has been appointed as the country head of the company and he has also been assigned the responsibility of incorporating the advanced project set up in the organisation.

Questions:

1. Which project estimation approach should be used by the company and why?

2. What type of project organisation structure should be used by the company and why?

Answer. 1. Bottom-up estimating (also called detail or resource-driven estimating)

The estimator breaks a project into distinct line items, and then breaks those line items into smaller, distinct line items, and so on, until he or she arrives at the component (or resource) level – the level of detail at which the price of the components is relatively consistent across projects.

Q3. What is the importance of operational feasibility? Explain the factors that affect operational feasibility.

Answer. Operational feasibility is as important as technical feasibility (or any other kind of feasibility for that matter), and yet it can be the first thing to get brushed under the carpet. The conversation changes and that ‘intelligent system’ everyone was discussing is transformed back into a mere ‘thing’: a deliverable to drop into the organisation. We’ll find out later if we can make it happen; if we can weave it into departments and hearts as successfully as we can plug it into software platforms.

Q4. Write short notes on

Ø  Monte Carlo analysis

Ø  Work break down structure

Ø  Resource loading

Ø  Definitive estimate (a method to estimate cost of a project).

Answer. Monte Carlo analysis:

Monte Carlo simulation is a method for exploring the sensitivity of a complex system by varying parameters within statistical constraints. These systems can include financial, physical, and mathematical models that are simulated in a loop, with statistical uncertainty between simulations. The results from the simulation are analyzed to determine the characteristics of the system.                      

Q5. What do you understand by cost of quality? Elaborate on various types of costs of quality associated with a project.

Answer. Cost of Quality:

The “cost of quality” isn’t the price of creating a quality product or service. It’s the cost of NOT creating a quality product or service.

Every time work is redone, the cost of quality increases. Obvious examples include:

Ø  The reworking of a manufactured item.

Ø  The retesting of an assembly

Ø  The rebuilding of a tool

Ø  The correction of a bank statement

Q6. Explain some of ISO standards that should be considered by the project manager during project execution.

List the advantages of project management software.

Answer. Some of ISO’s most well-known standards are management system standards. They provide a model to follow when setting up and operating a management system. Like all ISO standards, they are the result of international, expert consensus. Therefore, by implementing a management system standard, organizations can benefit from global management experience and good practice.

Winter-2015

Get solved assignments at nominal price of Rs.125 each.

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

09882243490