MB0049 - PROJECT MANAGEMENT

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Summer 2013

MBA II SEMESTER

MB 0049 - PROJECT MANAGEMENT - 4 CREDITS

(BOOK ID B1632)

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q1. There cannot be a single ideal structure for all organisations as different organisations have different size, environment, resources, technologies, and goals. There are many different ways in which people can be organized to work on projects. Explain in brief the most common types of organisation structures.

(Brief explanation of types of organisation structures: Functional-type organization – 3 marks ; Project-type organization – 4 marks; Matrix type organization – 3 marks Note: include advantages, disadvantages and examples for each type of structure )10 marks

Answer :  Types of organisation structures :

There are three main types of organizational structure: functional, project and matrix structure.

1. Functional-type organization:

• It is set up so that each portion of the organization is grouped according to its purpose. In this type of organization, for example, there may be a marketing department, a sales department and a production department. The functional structure works very well for small businesses in which each department can rely on the talent and knowledge of its workers and support itself.

Q2. Quality Control (QC) refers to a system of routine technical activities that assists in measuring and controlling the quality of the project as it is being developed. Write short notes on quality control.

(Quality control system – 1 mark; Quality control activities – 1 mark; steps in quality control process – 2 marks; Inputs to quality control- 2 marks; Tools and techniques for quality control – 2 marks; Outcomes from quality control – 2 marks) 10 marks

Answer : Quality control system:

Quality control systems ensure products or services meet or exceed customer requirements. A proper and comprehensive quality control system is a key success factor in today’s demanding marketing place. Quality control is not an isolated function. It spans multiple departments in an organization as well as external groups such as vendors, distributors and most importantly, customers.

Q3. Purchase cycle is a standard process that corporations and individuals progress through (in order) when purchasing a product or service. It is also known as the 'buying cycle' or 'purchase process'. Explain the elements of the purchase cycle of a project .

(Explanation of elements : Indent goods; Shortlist suppliers; ‘Invite, receive and choose bid’; Preparation and placement of purchase order; Follow-up; ‘Receipt, inspection and storage of goods’, Maintenance of records - 8.75 i.e. 1.25 marks each ; conclusion –1.25 marks)10 marks

Answer :  Elements of the purchase cycle of a project:

                      

Purchasing is the "process of buying". Many assume purchasing is solely the responsibility of the purchasing department.

1. Indent goods;

Indent means an order to export or import goods. Indent also means 'requirement of materials' An indent is raised from each department. And this indent is approved by authorized personnel, after that it goes for purchase order.

Q4. Write short notes on Earned Value Method (EVM)

(EVM explanation – 2 marks; parameters to calculate performance measures- 6 marks; plot of BCWS versus time - 1 mark; plots of BCWS, ACWP, and BCWP for a typical project- 1 mark) 10 marks

Answer :  Earned value method :

Earned value analysis is a method of performance measurement. Many project managers manage their project performance by comparing planned to actual results. With this method, one could easily be on time but overspend according to the plan. A better method is earned value because it integrates cost, schedule and scope and can be used to forecast future performance and project completion dates.

Q5. What are the common features available in PM software packages?

(Features – 9 marks; conclusion – 1 mark) 10 marks

Answer : Features in PM Software packages :

1.Collaborate on Projects with Clients and Staff:

With the multi-user log-ins you can control who has access to your Project Management Software. Your clients, staff, vendors, Outsource Resources and at home workers will all be kept up to date on the projects they are assigned to.

2. Multi User Log-ins:

There is no limit on the number of users the system can hold. Each user can be granted different privileges to access only the areas of the program specified and may also have "Read Only" or "Read Write" access.

Q6. A project should earn sufficient return on the investment. The very idea of promoting a project by an entrepreneur is to earn attractive returns on investment on the project. If there are many alternative

projects, all of which, at first sight, appear to be more or less equal in profit earning capacity, the investor should make a comparative study of the return on the different alternative proposals before choosing one. Such financial analysis broadly falls under two categories. They are:

• No discounted cash flow techniques
• Discounted cash flow techniques

Explain the subdivisions within the above two categories.

(No discounted cash flow techniques: Pay Back Period (PBP) method, Accounting Rate of Return (ARR) method - 3 marks i.e. 1.5 marks each; Discounted cash flow techniques: Net Present Value (NPV) method – 4 marks, Internal Rate of Return (IRR) method – 3 marks)

Answer :  No discounted cash flow techniques:

1. Pay Back Period (PBP) method:

Method of evaluating investment opportunities and product development projects on the basis of the time taken to recoup the investment. This period is compared to the required payback period to determine the acceptability of the investment proposal.

Formula:

Payback period (in years) = Initial capital investment ÷ Annual cash-flow from the investment

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