MB0049 - PROJECT MANAGEMENT

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Master of Business Administration - MBA Semester 2

MB0049 - PROJECT MANAGEMENT

1 Explain Phases of Project Management Life Cycle in detail. What are Project Management Principles?

Ans Project management is a rationally planned and organised effort to attain a specific goal. It comprises of organising, coordinating and managing different tasks and resources for successful

2 Write Short Notes on Project Planning & Work Breakdown Structure (WBS).

Ans Project Planning

Project planning is a discipline for stating how to complete a project within a certain timeframe,

3 Answer the following questions:

1. Mention the steps involved in a competitive bid.

2. Mention the elements/points that must be kept in view when designing , developing and operating a PMIS (Project Management Information System)

1. List the 5 steps involved in a competitive bid

2. List the 5 elements/points that must be kept in view when designing , developing and operating a PMIS

Answer: Competitive bid (bid and award)

The steps involved in competitive bid are discussed below:

1.      The

4 What is Value Engineering? Explain the process & Stages of Value Engineering.

Ans Value engineering is the systematic application of recognised techniques that identifies the function of a product, process or services, accomplishes a monetary value of that function,

5 Write short notes on

1. Role of risk management in overall project management

2. Quality assurance

Answer: Role of Risk Management in Overall Project Management

Risk analysis and management is a process which enables the analysis and management of the risks associated with a project. Properly undertaken, it will increase the likelihood of successful completion of

6 Explain Earned Value Method (EVM) in detail.

•    Earned Value Method (EVM)

Answer:

The concept of earned value management became a fundamental approach to program management in 1966 when the United States Air Force mandated earned value in conjunction with the

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