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DRIVE-SPRING
2014
PROGRAM-MBADS
(SEM 4/SEM 6) MBAFLEX/ MBAN2 (SEM 4) PGDPMN (SEM 2)
SUBJECT
CODE & NAME-PM 0015 & QUANTITATIVE METHODS IN PROJECT MANAGEMENT
BK
ID-B1344
CREDIT
AND MARKS-4 CREDITS AND 60 MARKS
Q1.
Write short notes on:
·
Q sort method of project
selection
·
Basic components of a network
·
Project cost
·
Resource smoothing
(Q
sort method of project selection Basic components of a network Project cost
Resource smoothing) 10 (2.5 marks each)
Answer.
Q
sort method of project selection
The Q-Sort method proposed by
Helin and Souder in 1974 is a convenient way to handle the task. First, the
projects should be separated into three subsets – „good‟, „fair‟ and „poor‟,
using the desired criteria. If there are more than
Q2.
What are the three methods for determining the forecasted cost at completion?
Explain.
(Listing
of the three methods for determining the forecasted cost at completion, Explanation
of three methods)1, 9(3 marks each)
Answer.
Methods
for determining the forecasted cost at completion with explanation
There are three different methods
for determining the Forecasted Cost at Completion (FCAC).
The first method assumes that the
work to be performed on the remaining portion of the project or work package
will be done at the same rate of efficiency as the work package will be done at
the same rate of efficiency as the
Q3.
Describe the different stages in Project management.
(Explanation
of the different stages in Project management)10 (2 marks each)
Answer.
Different
stages in Project management
The process of project management
is divided into specific stages which can be defined as follows: -
Step 1 – Define the Project
Setting out the Goal and the
Objectives together with the Specification and Limitations within which the
undertaking must be completed. This is the starting point for a new project.
The following are the areas that must
Q4.
Write short notes on: Linking of tasks in MS Project Setting resource calendar
in MS Project Network diagram chart Updating the project in MS Project
(A
Linking of tasks in MS Project, Setting resource calendar in MS Project, Network
diagram chart, Updating the project in MS Project)10 (2.5 marks each)
Answer.
Linking
of tasks in MS Project
In order that the system is able
to display the overall time aspects of the project, each Task must be defined
in terms of the Tasks on which it is dependent and in turn those Tasks that are
dependent on it. It is also possible to define in what way these dependencies
exist. Most associated Tasks will have a straightforward linear relationship.
That
is, the preceding task must
finish before the next task can start. This is the Finish to Start relationship.
This is not true for all situations, for example if bricks are being made to build
a house, the building cannot start until some bricks are available but it is
not necessary for all the bricks to be made before the building can start. The
relationship between making the bricks and building the house can be described
as Start to Start but with a time lag to allow for the first batch of bricks
to be ready. An alternative relationship can be Finish to Finish which
is true where two tasks must be ready at the same time.
Setting
resource calendar in MS Project
Q5.
Discuss consolidating several projects in MS project.
(Explain
why the need of consolidating projects, Steps to consolidating projects, Explanation
of consolidating projects created in earlier versions of MS project)5, 3, 2
Answer.
Need
of consolidating projects
It is possible to create a
consolidated project by inserting copies of individual projects at any outline
level into a single project file. With a consolidated project, it is possible
to view, print, and change information for all
Q6.
Describe how you can choose an appropriate forecasting model.
(List
the guidelines for selecting an appropriate forecasting model, Discussion on
each step)2, 8( 2 marks for each step)
Answer.
Guidelines
for selecting an appropriate forecasting model
Some guidelines are given in
respect to this below. These guidelines are based on a judgement of how well
the model has fit a given set of time-series data and make the assumption that future
movements in the series can be
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