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DRIVE Summer 2017
PROGRAM MBA
SEMESTER II
SUBJECT
CODE & NAME Mb0049 - 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
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
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
4 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
5 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
6 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
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