Saturday, 27 May 2017

mba206 smu mba spring 2017 (jul/aug 2017 exam) IInd sem assignment

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DRIVE Spring 2017
PROGRAM MBA
SEMESTER II
SUBJECT CODE & NAME MBA206 - PROJECT MANAGEMENT

Set 1

1 Explain Phases of Project Management Life Cycle in detail. What are Project Management Principles?
Ans Project management is a rationally planned and organised effort to attain a specific goal. It comprises of organising, coordinating and managing different tasks and resources for successful completion of project. A project lasts for a definite period of time and then finishes. Projects are usually made up of different diverse elements or mini-tasks that are completed separately and finally combined together



2 Write Short Notes on Project Planning & Work Breakdown Structure (WBS).

Ans Project Planning
Project planning is a discipline for stating how to complete a project within a certain timeframe, usually with defined stages, and with designated resources. This process helps draw a blue print for execution with little or no modifications. Project plans do not allow much


3 Answer the following questions:
1. Mention the steps involved in a competitive bid.
2. Mention the elements/points that must be kept in view when designing , developing and operating a PMIS (Project Management Information System)
1. List the 5 steps involved in a competitive bid
2. List the 5 elements/points that must be kept in view when designing , developing and operating a PMIS

Answer: Competitive bid (bid and award)
The steps involved in competitive bid are discussed below:
1. The bid or tender is invited from a required number of suppliers.
2. The bid received in prescribed condition are accepted and held in safe custody.
3. The bids are opened and made public at the stated time and place in the presence of the bidders


Set 2

1 What is Value Engineering? Explain the process & Stages of Value Engineering.

Ans Value engineering is the systematic application of recognised techniques that identifies the function of a product, process or services, accomplishes a monetary value of that function, brings out areas of avoidable costs and provides the essential functions consistently at the lowest


2 Write short notes on
1. Role of risk management in overall project management
2. Quality assurance

Answer: Role of Risk Management in Overall Project Management
Risk analysis and management is a process which enables the analysis and management of the risks associated with a project. Properly undertaken, it will increase the likelihood of successful completion of a project to cost, time, and performance objectives. There are a lot of benefits of proper risk



3 Explain Earned Value Method (EVM) in detail.
•    Earned Value Method (EVM)

Answer:
The concept of earned value management became a fundamental approach to program management in 1966 when the United States Air Force mandated earned value in conjunction with the other planning and controlling requirements on Air Force programs. The requirement was entitled



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