PM0011 – Project Planning

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ASSIGNMENT

DRIVE	FALL DRIVE 2013
PROGRAM/SEMESTER	MBADS – (SEM 4/SEM 6) / MBAN2 / MBAFLEX – (SEM 4) / PGDISMN (SEM 2)
SUBJECT CODE & NAME	PM0011 – Project Planning
BOOK ID	B1237
CREDITS	4
MARKS	60

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. Explain the usefulness of WBS in cost control.10 marks(300-400) words

Answer : A work breakdown structure lets project managers plan their work more efficiently. A project is characterized by time-limited activities and is assigned fixed time frames and costs. When it is finished, a project must fulfil the stakeholder needs it was designed to address. The project management has to plan for the schedule, the fixed costs and the functional completeness of the project and assign responsibilities. The WBS helps make this planning consistent and provides for effective project execution.

Tasks

The main purpose of a WBS is to reduce complicated activities to a collection of tasks. This is important for the project manager because she can

Q2. Explain the method to estimate cost and create Budget 10 marks(300-400) words

Answer : Preparing a budget for your project requires two steps: First you prepare a rough estimate. Then when you move into the organizing and preparing stage of your project, you’re ready to create your detailed budget estimate.

Develop your bottom-up budget estimate by doing the following:

1.For each lowest-level work package, determine direct labour costs by multiplying the number of hours each person will work on it by the person’s hourly salary.

You can estimate direct labour costs by using either of the following two definitions for salary:

1.       The actual salary of each person on the

.

Q3. Explain the steps to draw a CPA chart 10 marks(300-400) words

Answer : As with Gantt Charts, the essential concept behind Critical Path Analysis is that you cannot start some activities until others are finished. These activities need to be completed in a sequence, with each stage being more-or-less completed before the next stage can begin. These are 'sequential' activities.

Other activities are not dependent on completion of any other tasks. You can do these at any time before or after a particular stage is reached. These are non-dependent or 'parallel' tasks.

Drawing a Critical Path Analysis Chart

Use the following steps to draw a CPA Chart:

Step 1. List all activities in the plan

For each activity, show the earliest start date, estimated length of time it will take, and whether it is parallel or sequential. If tasks are sequential, show which stage they depend on.

For the project example used here, you will end up with

Q4. Explain the different methods in solving linear programming problem 10 marks(300-400) words

Answer : Linear Programming Basics

Linear programming (LP) is a powerful framework for describing and solving optimization problems. It allows you to specify a set of decision variables, and a linear objective and a set of linear constraints on these variables. To give a simple and widely used example, consider the problem of minimizing the cost of a selection of foods that meets all the recommended daily nutrient guidelines. The LP model would have a set of decision variables that capture the amount of each food to buy, a linear objective that minimizes the total cost of purchasing the chosen foods, and a linear constraint for each nutrient, requiring that the chosen

Q5. Write short notes on process review report. 10 marks(300-400) words

Answer : The purpose of the In-Process Review is to assess the system's performance and user satisfaction. This review process occurs repeatedly to ensure that the system is performing cost-effectively and that it continues to meet the functional needs of the user. The report provides a description of the review process, its focus, and results. The report also may be used to document management approvals regarding further enhancements or development of the system under review.

Purpose

Describe the purpose of the In-Process Review in this section

Q6. Substantiate the impact of Life Cycle Costing on new product selection and strategy10 marks(300-400) words

Answer : Life Cycle Costing

Life cycle costing (LCC) is also known as cradle-to-grave costing. The purpose of this type of accounting is to provide a complete record of all the costs associated with the product or service. This type of costing is commonly found in manufacturing, product development, construction, and software companies.

In order to properly track life cycle costing, the accounting system must be configured or set up to manage this type of accounting in advance. In most accounting systems, there is a standard set of general ledger accounts that are used to track

Dear students get fully solved assignments

Send your semester & Specialization name to our mail id :

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or

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