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DRIVE Summer 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
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 deviation and are strictly guided by defined parameters viz., time scale,
categorical budgets, and
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
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
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
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
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