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DRIVE
Summer 2015
PROGRAM
MBAFLEX/ MBA (SEM 3)
SUBJECT CODE & NAME
PM0011 – PROJECT PLANNING AND
SCHEDULING
Q1. Write short note on: 10 (5
marks each)
Ø Project Rating
Index(PRI)
Ø Scope change
control
Answer:
Project
Rating Index (PRI): In the previous section, you
studied about the initial screening of project ideas. Proper screening
of project ideas plays an important role in ensuring the selection of
the right project idea by an organisation. Once an organisation
completes the initial screening of project ideas, it should then focus
on evaluating the desirability of the shortlisted project ideas. For this purpose,
an
Q2.
Budget Estimation of ABC Company Ltd.
ABC
Company Ltd., established in 1985, is engaged in the manufacturing of leather
accessories. Over the years, the company, which started out as a local firm, has
made its mark as an international corporation. However, the company is still
working as a traditional set up.
The
high quality and durability of products have increased the demand of the
products in the market. As the production of the organisation is being
increased to meet the demand, the traditional set up is creating hurdles in the
production process.
Organisation
conflicts have arisen among the team members because of the unorganised
hierarchical structure of the company, which is affecting the output of the
organisation. Now that the management has decided to expand the business and
opened up branches abroad, the company is facing two more problems. The first
problem is in budgeting as the company is unfamiliar with international market
conditions, strategy, and business policy while the second problem is conflicts
at the time of team formation due to lack of experience of and exposure to
multinational work culture, which has further affected the output of the
company.
The company can
estimate the budget through two methods, the bottom - up approach and the top -
down approach. The bottom -up approach is generally followed by the MNCs as it
is more accurate and reliable.
Mr.Parag has been
appointed as the country head of the company and he has also been assigned the
responsibility of incorporating the advanced project set up in the
organisation.
Questions:
1. Which project
estimation approach should be used by the company and why?
2. What type of project
organisation structure should be used by the company and why?
(1. Argue the pros
and cons of each project estimation approach, Recommend
the project estimation approach that best suits the company, List the reasons
for your decision by mentioning the data from the case) 2, 1, 2
(2. Describe the
existing organisation structure
List the
disadvantages of this structure, Recommend the project organisation structure
that should be used by the company, Give you reasons for recommending this
structure based on, the data given in the case and your knowledge on the FIVE
organizational structures.) 1, 1, 1, 2
Answer:
1.
Estimates provide the basis for a business to secure work
that clients wouldn't award without a sense of the costs their projects can
engender. two types of estimation approaches are used in
Q3.
What is the importance of operational feasibility? Explain the factors that
affect operational feasibility. (Mention the importance of operational
feasibility, Discuss the FOUR factors that affect operational feasibility) 2, 8
Answer: Operating Feasibility: In the
previous units, you have come to understand that feasibility study of a project
is very important from the point of view of an organisation as it enables
an organisation to assess whether the proposed project is capable of
achieving the desired goals and objectives. Operational feasibility is a part
of project feasibility study, wherein an organisation analyses the extent to
which a proposed project is appropriate for the existing business environment
and the organisational objectives. An operational feasibility analysis
helps an organisation in
Q4.Write
short notes on: 10 (5 marks each)
Ø
Monte
Carlo analysis
Ø
Work
break down structure
Answer: Monte Carlo analysis: Monte Carlo
simulation is a problem-solving technique that is used to represent the
probability of certain outcomes by running a number of trial runs
(called simulations) and using random variables. This technique was introduced
by John von Neumann, Stanislaw Ulam, and Nicholas Metropolis while they
were working on the atomic bomb in the
Q5.
What do you understand by cost of quality? Elaborate on various types of costs
of quality associated with a project. (Write the meaning of cost of quality, Briefly
explain each types of costs of quality associated with a project) 1, 9
Answer: Cost of Quality (COQ): Cost of
quality indicates the sum of conformance cost and non-conformance cost.
Conformance means delivering products that meet the quality requirement of
the customer; whereas, non-conformance indicate the products that are
rejected for not complying with the quality norms of the customer. In
other words, cost of quality can be referred
Q6.
Explain some of ISO standards that should be considered by the project manager
during project execution. List the advantages of project management software.
(Discuss the FOUR ISO standards that should be considered by the project manager
during project execution, List any four advantages of project management software)
8, 2
Answer: FOUR ISO standards that
should be considered by the project manager during project execution: International
Organisation for Standardisation, whose abbreviated form is ISO, is located in
Geneva, Switzerland. ISO was founded in the year 1947, and is one of the
world’s largest developers of International Standards. It has a membership of
more than 158 National Standards Institute of various countries across the
world. ISO is responsible for developing standards that can be used as guidelines
or benchmarks during the production or development of
Get fully solved assignment. Buy online from website
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125/subject and rs 700/semester only.
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