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MB0049_MBA_Sem2_Fall/August 2012
Master of Business Administration - MBA Semester 2
MB0049 – Project Management - 4 Credits
Assignment Set- 1 (60 Marks)
Note: Each question carries 10 Marks. Answer all the questions.
Q.1 Define Project Management Information Software. Discuss the various
steps of PMIS planning.
Answer : Project Management
Information System (PMIS)
An information system is mainly
aimed at providing the management at different levels with information related
to the system of the organisation. It helps in maintaining discipline in the
system.
An information system dealing
with project management tasks is the project management information system. It
helps
Q.2 Explain procurement process . What are the key steps involved in
purchase cycle?
Answer : Procurement process
is the term used by businesses to describe the buying process, and can refer to
the purchase of supplies or services. Many businesses use automated tools such
as an Enterprise Resource Planning (ERP) system and Electronic Data Interchange
(EDI) to assist procurement specialists or buyer with …………..
Q.3 Define project-type organisation and discuss it in detail
Answer : Project Type is one of the root characteristics of a
project, which points its nature. Usually project type is a high-level
definition of a project that helps to identify methodologies to be suitable,
objects and resources to be involved into the project, and nature of products
to be generated by this project. When an organization operates a conception of project
type, this may indicate that this organization possesses different ……….
Q.4 Define value engineering. Discuss the scope of applying VE in
project.
Answer : Value engineering
(VE) is a systematic method to improve the "value" of goods or
products and services by using an examination of function. Value, as defined,
is the ratio of function to cost. Value can therefore be increased
Q.5 Define project management, resource, process, and project cycle.
Why is project management important?
Answer : Project management is the discipline of planning,
organizing, securing, managing, leading, and controlling resources to achieve
specific goals. A project is a temporary endeavour with a defined beginning and
end (usually time-constrained, and often constrained by funding or
deliverables),[1] undertaken to meet unique goals and objectives,[2] typically
to bring about beneficial change or added value. The temporary nature of
projects stands in contrast with business as usual (or operations),[3] which
are repetitive, permanent, or semi-permanent functional activities to produce
products or services. In practice, the management of these two systems is often
quite different, and as such requires the development of distinct technical
skills and management strategies.
The primary challenge of project
management is to achieve all of the project goals[4] and objectives while honouring
the
Q.6 What are the key steps included in risk management process? What
are the strategies used to reduce risk?
Answer : Risk Management - Key Steps in Risk Management
The first thing to understand in
risk management is that it's a on-going activity. It's not about identifying
risks upfront and then forging ahead regardless. It's too easy to forget the
risks once the project is started and fail to recognize and raise new risks
when the project is underway.
The key steps to risk management
are summarized below.
MB0049_MBA_Sem2_Fall/August 2012
Master of Business Administration - MBA Semester 2
MB0049 – Project Management - 4 Credits
Assignment Set- 2 (60 Marks)
Note: Each question carries 10 Marks. Answer all the questions.
Q.1 Define activity, event, and path as used in network development.
What is a dummy activity? Describe the CPM model.
Answer : Activity : It is physically identifiable part of a project which
require time and resources for its execution. An activity is represented by an
arrow, the tail of which represents the start and the head, finish of the
activity.
Event:
Q.2 Discuss the advantages of using PM software package. What are the
common features available in PM software packages?
Answer : advantages of using PM software package
Project management software
provides small to large businesses, who undoubtedly juggle a number of tasks,
with a solution that helps keep them organized. There are a wide variety of
project management software packages available, including web-based
applications accessible from any location. Each software boasts its own set of
features, but they all share common benefits businesses can appreciate.
Collaborate on Projects
Q.3 Define risk management. What are the different types of risks that
can affect a project?
Answer : Risk Management
Risks are those events or
conditions that may occur and whose occurrence has a harmful or negative impact
on a project. Risk management aims to identify the risks and then take actions
to minimise their effect on the project. Risk management entails additional
cost. Hence risk management can be considered cost-effective only if the cost
of risk management is considerably less than the cost incurred if the risk
materialises.
Risk
Q.4 What are the roles and responsibilities of project leader? Describe
the leadership styles for project managers.
Answer : Project Leader Roles and Responsibilities
Project Leader Role Description
Your role as a Project Leader
(PL) is extremely vital in assuring the successful implementation of your
project with volunteers. This role if taken up with the right attitude and
accompanying smile is sure to provide you with an experience worth cherishing.
Here’s what you can do for WV:
Q.5 Explain the life cycle of a project. Describe the various phases of
project management life cycle.
Answer : Project Management - Project Life Cycle
The Project Life Cycle consists of four phases:
1)
Define
2)
Plan
3)
Do
It!
4)
Close
Note:
Q.6 What is project control? Discuss the various elements of project
control.
Answer : Project
control refers to all the activities and processes available to successfully
manage project risks. For the PMP test, project control entails a total of 12
distinctive processes out of the 44 project management
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