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MASTER
OF BUSINESS ADMINISTRATION (MBA) - PROJECT MANAGEMENT
SEMESTER
4
PM 0015 – QUANTITATIVE METHODS IN
PROJECT MANAGEMENT
Q1. Write short notes on:
·
Scoring Method for project selection
·
Rules for network construction
·
Project crashing using network
analysis
·
Graphical Evaluation & Review
Technique
[Scoring Method for project selection
Rules for network construction Project crashing using network analysis
Graphical Evaluation & Review Technique]
Answer.
Scoring Method for project selection
The main reason behind the
development scoring methods was to overcome some of the disadvantages of the
simple financial profitability methods, especially their focus on a single
criterion. The simple scoring approach,
Q2. Describe the importance of
Business Forecasting.
[Need for forecasting with examples, Two common approaches to forecasting]
Answer.
Need for forecasting with examples
Because of the variation of the
economic and business conditions over time, managers must find ways to keep
abreast of the effects that such changes will have on their organizations. One
technique which is very much useful in planning for the future needs is the
forecasting. Although numerous forecasting methods have been devised, they all
have one common goal – to make predictions of the future events so that the
projections can then be
Q3. Describe the different stages in
Project management.
[Explanation of the different stages
in Project management]
Answer.
Stages in Project management
The process of project management
is divided into specific stages which can be defined as follows: -
Q4. Write short notes on:
·
Time-series
·
Forecasting of Seasonal
·
Data Setting resource calendar in MS
Project
·
Network diagram chart
·
Cost Performance Index
[Time-series Forecasting of Seasonal
Data Setting resource calendar in MS Project Network diagram chart Cost
Performance Index]
Answer.
Time-series Forecasting of Seasonal
Numerous time series are collected
quarterly or monthly, and others are obtained weekly, daily and
even hourly. In particular, when
a time-series is collected quarterly or monthly, the impact of seasonal effects
must be considered. In this section, the regression model building is used to forecast
with monthly or quarterly
Q5. How to create a report on the
project activities in the MS Project.
[Explain how to set up of Reports, Explain the process of Creating or
Editing Reports, Describe the
reports that can be printed, List the steps of Printing
a Report]
Answer.
Set up of Reports
MS Project has a number of pre-defined
reports based on six principal types which can be used directly, changed as
required. Alternatively, completely new reports can be created. The system is
picture driven and simple to use. Access is from the View, Reports command.
A dialog box appears in which the following type of report can be
Q6. Discuss the algorithm for solving
the shortest-route problem.
[Description of shortest-route
problems, description of the
5 steps of the algorithm]
Answer.
Algorithm for Shortest-route problems
A shortest-route problem involves
a connected network having a nonnegative cost associated with each branch. One
node is designated as the source, and the other node is designated as the sink.
The following algorithm is to be
used to solve the Shortest-route problems –
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