MB0049 - PROJECT MANAGEMENT

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ASSIGNMENT

DRIVE	FALL 2014
PROGRAM	MBADS/ MBAFLEX/ MBAHCSN3/ MBAN2/ PGDBAN2
SUBJECT CODE & NAME	MB0049 - PROJECT MANAGEMENT
BK ID	B1632
SEMESTER	2
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.

Qus:1  Describe the CPM model.

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.

Assumptions :

Qus:2 Write short notes on:

a)The Shewhart Cycle

Answer : Also called: PDCA, plan–do–study–act (PDSA) cycle, Deming cycle, Shewhart cycle

The plan–do–check–act cycle (Figure 1) is a four–step model for carrying out change. Just as a circle has no end, the PDCA cycle should be repeated again and again for continuous improvement.

b)Project procurement process

Answer : PROCUREMENT PLAN

After the decision has been made to purchase goods or outsource services, the procurement team develops a plan that includes the following:

·         Selecting the appropriate relationships and contract approaches for each type of purchased goods or outsourced service

·         Preparing RFQs and RFPs and evaluating

d)Design of PMIS(Project Management Information System)

Answer: The design principle using rapid prototyping techniques stressed the ease of use, use of existing formats and procedures while requiring the minimum of effort in maintaining the systems. The following paragraphs briefly describe the components that were developed and adopted. Efforts will be made in the future to integrate the components into a single system when the organization's local area network (LAN) is operational.

Qus:3 As an investor, how will you choose the projects to invest in?

Answer : When deciding whether to invest in a project an investor first will compare investment or sunk costs to the expected profit and based on this decision will decide what to do. Depending on the specifics of the project calculating of sunk cost and expected profit might be rather different and will play the main role in the decision to invest, wait and invest later or not to invest at all. More detailed consideration of the standard NPV rule: to invest if present value of cash flow is greater than sunk cost will show that some projects cannot be simply estimated using this idea. For the irreversible projects such as building a factory or buying an option NPV method may not be proper because it does not take into consideration

Qus:4 Write a note on

a)Earned Value Method (EVM).

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

b)EVM explanation

Answer : Earned Value (EV):

This is also referred to as Budgeted Cost of Work Performed (BCWP). Earned Value (EV) or BCWP is the total cost of the work completed/performed as of a reporting date.

This is calculated as:

c)Parameters to calculate performance measures

Answer : Parameters to calculate performance measures :

There are following three basic elements of EVM to calculate performance measures :

• Planned Value (PV)
• Actual Cost (AC)
•  

d)Plot of BCWS versus time

Answer : Plot of BCWS versus time:

e)Plots BCWS, ACWP, and BCWP for a typical project

Answer : Plots of BCWS, ACWP, and BCWP for a typical project:

BCWS - The Budgeted Cost of Work Scheduled. Quite literally, it represents the budgets of the activities that were planned. It is the budget from your activities phased over the time you planned to do them. (sometimes just referred to as WS or

Qus:5 Discuss the various methods of conflict resolution.

Answer : In the world of business, the presence of conflict can be a serious issue that needs immediate attention. If workers in your small business appear not to be interacting as cooperatively as you would like, engage in some conflict resolution to remedy this problem. By suggesting an assortment of simple strategies, you can aid your workers in putting these periods of conflict behind them.

Often, conflict arises simply due to a lack of communication. If you feel that your employees are having conflict because they are not talking with each other, set up time for a discussion. Encourage the employees to talk through the problem, particularly

Qus:6 Answer the following questions:

a. What are the advantages of using PM software package?

Answer : 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.

Employees are often assigned individual tasks that are a part of a larger project an entire team is working to complete. Project management software gives employees a way to collaborate on projects by sharing documents, timelines and status

b. What are the types of project performance evaluation techniques?

Answer : Performance management is an integral part of the workplace as it provides a platform for supervisors and managers to measure employee performance and determine whether employees are meeting the company's expectations. The method of performance measurement varies according to the work environment, type of business and, to some extent, the employee's occupation.

Employee performance measurements can determine

Dear students get fully solved  SMU MBA Fall 2014 assignments

Send your semester & Specialization name to our mail id :

“ help.mbaassignments@gmail.com ”

or

Call us at : 08263069601

(Prefer mailing. Call in emergency )