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DRIVE- SPRING 2014
PROGRAM- MBADS (SEM
3/SEM 5) MBAFLEX/ MBAN2 (SEM 3) PGDPMN (SEM 1)
SUBJECT CODE &
NAME- PM 0010 – INTRODUCTION TO PROJECT MANAGEMENT
Q1. Write short
notes on:
·
Project constraints
·
Project testing phase of project
management life cycle
·
Project resources
·
Qualitative approach to demand
forecasting
Answer:
Project constraints:
triple constraints
Constraints refer to
the limitation of resources. No project has access to unlimited resources. An
organisation allocates budget and resources to a project. In addition, the
organisation sets a timeline for the completion of the project. Therefore, a
project needs to fulfil the set objectives within a given set or resources. In
addition, the deadline and the quality of deliverables are required to be
maintained.
Q2. Describe the
various project planning tools. (Meaning and listing of project planning tools,
Explanation of project planning tools) 2, 8
Answer:
Project managers use
various tools and techniques to develop the project plan. These tools and
techniques help in improving the existing processes of an organisation.
Earlier, bar chart or Gantt chart was considered as the formal planning tool
but today, network techniques have gained importance.
Some of the planning
tools are as follows:
·
Plus-Minus-Interesting
·
Cost/benefit Analysis
·
Force-Field Analysis
·
Cash Flow Forecasts
Q3. Write short
notes on:
·
Earned value analysis
·
Pay Back Period method (PBP) of
evaluating investment in project
·
Project dependence constraint in
multiple project management
·
Applications of Social Cost
Benefit Analysis (SCBA)
Answer:
Earned value analysis
Earned Value Analysis (EVA) is
the most widely used method of determining the progress of a project. It is
also known as performance measurement, management by objectives, budgeted cost
of work performed and cost schedule control system. This method is named earned
value because it integrates the expected performance with estimated cost and
Q4. Discuss the
phases of project audit life cycle. (Listing of the phases of project audit
life cycle, Explanation /discussion on the phases of project audit life cycle)
1, 9
Answer:
Phases of
project audit life cycle
A project audit life cycle
consists of six phases,
Q5. What are the
various steps involved in the project configuration process? (Explain the
meaning of project configuration process, Explain the various steps of project
configuration process) 1, 9
Answer:
Project Configuration
Infrastructure projects are
complex in nature and require a large amount of capital. Therefore, they
involve a greater degree of risk. Project
Q6. What are the
main objectives of preparing a project report? Explain the essential elements
of a project final report. (Listing of the main objectives of preparing a
project report, Explanation of the essential elements of the project report) 3,
7
Answer:
Project Final Report
After terminating the
project, the project manager needs to create a project final report. The
project final report is a chronological history of the project. It contains key
deliverables, evaluation of project performance, and other significant aspects,
such as benefits received by the project partners from the project and summary
of the project with respect to the main objectives. The report is prepared
mainly for the stakeholders. Following are some of the main objectives of the
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