pm0010 smu mba fall 2014 III sem assignment

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DRIVE- FALL 2014

PROGRAM

MBADS (SEM 3/SEM 5)

MBAFLEX/ MBA (SEM 3)

PM 0010 – INTRODUCTION TO PROJECT MANAGEMENT

Qus:1 Describe the principles of project management.

·         Brief description of the 8 principles of project management

Answer:

The study of project management is based on certain universally applicable

principles. These principles are given by James Chapman.

These principles are as follows:

1)      Principle of business nature an

Qus:2 Define is project scope. Describe the elements of project scope

·         Definition of project scope

·         List the elements of project scope

·         Describe each element of project scope

Answer:

Definition of project scope:

Project scope is part of project planning and involves setting project goals, identifying processes, assigning tasks, and allocating resources. Defining project scope is a prerequisite for setting the stage for project plan development. The scope should be defined

Qus:3 Write short notes on:

·         Force field analysis

·         Product mix analysis

·         Financial feasibility of a project

·         Capital rationing

Ø  Force field analysis

Ø  Product mix analysis

Ø  Financial feasibility of a project

Ø  Capital rationing

Answer:

Force field analysis:

This project planning tool was developed by Kurt Lewin, a renowned social psychologist. The tool identifies the negative and positive forces associated with a particular project. In other words, forcefield analysis tool is used to analyse the pros and cons of a project. For example, while taking decision regarding buying a car, there two forces that works in your mind, one, the helping forces that stimulate you to make the buy

Qus:4 What are the sources of differences, for which social costs and benefits of project are estimated?

·         Explain the rational of Social cost benefit analysis

·         Discuss the sources of differences, for which social costs and benefits of project are estimated

Answer:

Explain the rational of Social cost benefit analysis:

SCBA is required, especially when it has to reckon with numerous challenges in its implementation. It is to be noted that social costs and benefits of a project are different from the monetary cost and benefits of the pr

Qus:5 Explain the corporate governance practices in infrastructure projects.

·         Explain why corporate governance is required in infrastructure projects

·         Explain the stages of corporate governance framework

Answer:

Explain why corporate governance is required in infrastructure projects:

The SPV is a distinct corporate entity. Therefore, it needs to follow the standards of corporate governance to protect the rights of shareholders and lenders. However, lack of efficient corporate governance standards may result in lack of trust among the stakeholders. For example, any avoidable Project Cost Escalations, incurred due to the lack of proper control measures, when transferred to the government or purchaser cause signi

Qus:6 Write short notes on:

·         Expert judgement (a tool used in procurement planning)

·         Project audit

·         Statistical Quality Control (SQC)

·         Project termination by extinction

Ø  Expert judgement (a tool used in procurement planning)

Ø  Project audit

Ø  Statistical Quality Control (SQC)

Ø  Project termination by extinction

Answer:

Expert judgement (a tool used in procurement planning):

An important tool that helps in procurement planning is expert judgement. The decision to procure products and services on the basis of an expert’s advice can be beneficial for an organisation. Sometimes, an organisation appoints an expert, who can be from within or outside the organisation. Such an expert is proficient and well trained in the field of procurement management, and has the ability to guide the organisation in its procurement decisions. Therefore, expert judgement can emanate from the following

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