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MBA
II
SEMESTER
MB 0049
- PROJECT MANAGEMENT - 4 CREDITS
(BOOK
ID B1632)
Note: Answer all questions. Kindly note that answers
for 10 marks questions should be approximately of 400 words. Each question is
followed by evaluation scheme.
Q1.
There cannot be a single ideal structure for all organisations as different
organisations have different size, environment, resources, technologies, and
goals. There are many different ways in which people can be organised to work
on projects. Explain in brief the most common types of organisation structures.
(Brief explanation following organization
structures, advantages, disadvantages and examples for each type of structure)10
marks
Answer:
Concept of
Organisational Structure
There cannot be a
single ideal structure for all organisations as different organisations have
different size, environment, resources, technologies, and goals. The most
common types of organisation structures are:
·
Line
Structure
·
Line
and Staff Structure
·
Functional
Structure
·
Project
or Matrix Structure
Q2.
Write short notes on:
·
Work Breakdown
Structure(WBS)
·
Rules for network
construction
·
Risk retention
·
Emerging methods of
communication
Answer:
Work
Breakdown Structure (WBS)
The
entire project may be considered to be made up of a number of tasks and
sub-tasks placed in different stages called the Work Breakdown Structure (WBS).
The
format for WBS design is used differently by different organizatiions. Mostly
graphics is used to display the project components as
Q3.
Purchase cycle is a standard process that corporations and individuals progress
through (in order) when purchasing a product or service. It is also known as
the 'buying cycle' or 'purchase process'. Explain the elements of the purchase
cycle of a project. (Explanation of elements,
conclusion) 8.75, 1.25
Answer:
Purchase Cycle
Purchase cycle is a
standard process that corporations and individuals progress through (in order)
when purchasing a product or service. It is also known as the 'buying cycle' or
'purchase process'. This cycle discusses about the decision points that the
buyer or the purchasing team goes through. Usually, purchase cycle of a project
consists of the following elements.
Let us now discuss
each of these elements in detail.
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Q4. Write short notes on Earned Value Method
(EVM) (EVM explanation – 2 marks;
parameters to calculate performance measures- 6 marks; plot of BCWS versus
time - 1 mark; plots of BCWS, ACWP, and
BCWP for a typical project- 1 mark) 10
marks
Answer:
EVM explanation- The Earned Value
Method (EVM) is a useful tool that allows the calculations of cost and schedule
performance measures including cost variance, schedule variance, cost and time
over-runs for a project.
Parameters to calculate performance measures- EVM uses the following
parameters to calculate these measures:
Budgeted Cost of Work
Schedule (BCWS): This
is the budgeted cost
Q5. What are the common features available in PM
software packages? (Features – 9 marks;
conclusion – 1 mark) 10 marks
Answer:
Common Features
available in Most of the Project Management Software
Before knowing the
practical use of project management software, we should study some of the
common features available in most of the project management software. These
generic features include:
1. Project data and
calendar: A
project start date is specified. A calendar can be used to define the working
days and hours for each individual resource on a project. The calendar is used
in calculating the schedule for the project.
Q6. A project should earn sufficient return on
the investment. The very idea of promoting a project by an entrepreneur is to
earn attractive returns on investment on the project. If there are many
alternative projects, all of which, at first sight, appear to be more or less
equal in profit earning capacity, the investor should make a comparative study
of the return on the different alternative proposals before choosing one. Such
financial analysis broadly falls under two categories. They are:
1. No
discounted cash flow techniques
2. Discounted
cash flow techniques Explain the subdivisions within the above two categories.
(Explanation of subdivisions of No
discounted cash flow techniques, Explanation of subdivisions of discounted cash
flow techniques) 3, 7
Answer:
No discounted cash flow techniques:
1. Pay Back Period
(PBP) method
Payback
period in capital budgeting refers to the period of time required
for the return on an investment to "repay" the sum of the original
investment. For example, a $1000 investment which returned $500 per year would
have a two year payback period. The time
value of money is not taken into
account. Payback period intuitively measures how long something takes to
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