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PM 0010 –
INTRODUCTION TO PROJECT MANAGEMENT
BK ID - B1936
CREDIT & MARKS -
4 CREDITS & 60 MARKS
Q1. Write short notes on: 10
Project
charter
Management by objectives in project management
Project
Management life cycle
Contingency plan
Answer: Project Charter: An activity can be executed effectively if
its objectives and the method ofexecution are documented properly. In case of a
project, this document is called project charter, which serves as a framework
for executing activities. In simple words, a project charter refers to a formal
document that mentions the various important aspects of a
Q2. Explain the steps in project selection. 10
Answer: Steps in project selection:
1. Recognise a series of criteria to
evaluate projects: This activity involves the identification of the criteria
required for selecting an appropriate project from the available alternatives.
Such criteria can be qualitative or quantitative. For example, if an FMCG
company wants to develop a new product and has identified a few alternatives,
then it might
Q3. Explain the UNIDO approach of SCBA (Social Cost Benefit Analysis).
(Explain the 5 stages of UNIDO approach) 10
Answer: UNIDO approach: The UNIDO
approach was first published in 1978 in the Guide to PracticalProject Appraisal
by United Nations Industrial Development Organisation. This approach provides a
complete outline of SCBA in developing countries. The UNIDO approach involves
five stages, which are explained as follows:
Q4. What is contract administration? What are the inputs, tools and
techniques used in contract administration to derive the outputs? (Define contract administration, List and describe the inputs of contract
administration, List and describe the
tools and techniques of contract administration) 1, 4.5 , 4.5
Answer: Contract Administration:
Contract administration ensures that the seller meets the
contractualrequirements mentioned in the contract document efficiently. For
this, the project manager and the contract administrator or the contract
officer must work in coordination with
Q5. 1. Which are the sources of
financing infrastructure projects? 2.
What are the steps involved in designing a monitoring system to identify
deviations in the overall performance of the project.
Answer: Sources of financing
infrastructure projects: It is true that
the economic infrastructure of India is gradually evolving, but there is still
a dearth of an adequate flow of long-term funds in India. This creates problems
in stabilising the cash flow. In India, most of
Q6. What the activities involved in project termination process?
Answer: Activities involved in
project termination process: Let us discuss the activities in the project
termination process under the following points:
Unsettled project activities: It
indicates the essential works of projects to be completed, before the closure of
the project. The essential works refer to the incomplete portion of the
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PM0011 – PROJECT
PLANNING AND SCHEDULING
Q1. Write short notes on: 10
Hierarchy of organisational objectives
Porter
model a tool for identifying investment opportunities
Design
phase of project management life cycle
Scope
change
Answer: Hierarchy of organisational
objectives: In an organisation, objectives follow a logical framework that is
characterised by a hierarchy under different levels. The objective of an
organisation is a complex process. Various issues are involved while setting
the objectives; some of which are asfollows:
Q2. Budget Estimation of ABC Company Ltd.
ABC Company Ltd., established in 1985, is engaged in the manufacturing
of leather accessories. Over the years, the company, which started out as a
local firm, has made its mark as an international corporation. However, the
company is still working as a traditional set up.
The high quality and durability of products have increased the demand
of the products in the market. As the production of the organisation is being
increased to meet the demand, the traditional set up is creating hurdles in the
production process.
Organisation conflicts have arisen among the team members because of
the unorganised hierarchical structure of the company, which is affecting the
output of the organisation. Now that the management has decided to expand the
business and opened up branches abroad, the company is facing two more
problems. The first problem is in budgeting as the company is unfamiliar with
international market conditions, strategy, and business policy while the second
problem is conflicts at the time of team formation due to lack of experience of
and exposure to multinational work culture, which has further affected the
output of the company.
The company can estimate the budget through two methods, the bottom -
up approach and the top - down approach. The bottom -up approach is generally
followed by the MNCs as it is more accurate and reliable.
Mr.Parag has been appointed as the country head of the company and he
has also been assigned the responsibility of incorporating the advanced project
set up in the organisation.
Questions:
1. Which project estimation approach should be used by the company and
why?
2. What type of project organisation structure should be used by the
company and why?
(1. Argue the pros and cons of each project estimation approach,
Recommend the project estimation approach that best suits the company, List the
reasons for your decision by mentioning the data from the case) 2, 1, 2
(2. Describe the existing organisation structure
List the disadvantages of this structure, Recommend the project
organisation structure that should be used by the company, Give you reasons for
recommending this structure based on, the data given in the case and your
knowledge on the FIVE organizational structures.) 1, 1, 1, 2
Answer:
1.
Estimates provide the basis for a
business to secure work that clients wouldn't award without a sense of the
costs their projects can engender. two types of estimation approaches are used
in organisation.
Q3. What is the importance of operational feasibility? Explain the
factors that affect operational feasibility. (Mention the importance of
operational feasibility, Discuss the FOUR factors that affect operational
feasibility) 2, 8
Answer: Operating Feasibility: In
the previous units, you have come to understand that feasibility study of
aproject is very important from the point of view of an organisation as it
enables an organisation to assess whether the proposed project is capable of
achieving the desired goals and objectives. Operational feasibility is a part
of project feasibility study, wherein
Q4. Write short notes on: 10
Crashing
Precedence diagramming method
Resource
allocation
Scope
creep
Answer: Crashing: In order to
reduce the duration of a project, organisations often assign additional
resources to the project task. This technique of assigning additional resources
to reduce the project duration is termed as crashing. According to
BusinessDictionary.com, schedule crashing is "Reducing the completion time
of a project by sharply increasing manpower and/or other expenses."
According to
Q5. What do you understand by cost of quality? Elaborate on various
types of costs of quality associated with a project. (Write the meaning of cost
of quality, Briefly explain each types of costs of quality associated with a
project) 1, 9
Answer: Cost of Quality (COQ):
Cost of quality indicates the sum of conformance cost and non-conformancecost.
Conformance means delivering products that meet the quality requirement of the
customer; whereas, non-conformance indicate the products that are rejected for
not complying with the quality norms of the customer. In other words, cost of
quality can be referred to as the sum total of all costs incurred in ensuring conformance
of the product to the quality requirements, assessing the product, and doing
any re-work required to ensure such
.
Q6. Explain some of ISO standards that should be considered by the
project manager during project execution. List the advantages of project
management software. (Discuss the FOUR ISO standards that should be considered
by the project manager during project execution, List any four advantages of
project management software) 8, 2
Answer: FOUR ISO standards that
should be considered by the project manager during project execution:
International Organisation for Standardisation, whose abbreviated form is ISO,
is located in Geneva, Switzerland. ISO was founded in the year 1947, and is one
of the world’s largest developers of International Standards. It has a
membership of more than 158 National Standards Institute of various countries
across the world. ISO is responsible for
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PM 0012 – PROJECT
FINANCE AND BUDGETING
BK ID - B1938
Q.1: Write short notes on: 10 (2.5 marks each)
• Project cost estimation
• Role of project
sponsors
• Trade credit
• Importance of project
budget
Answer: Project cost
estimation:The cost of the project is the money required to complete the
project. Cost estimation is very important for the planning and execution of
any project sothat appropriate finances can be allocated at the right time.
However, at times, the overall cost may go beyond the budgeted cost due to
project
Q.2: Answer the following questions:
1. What is a Letter of Intent (LOI)? What is its purpose?
2. What are the basic features of EPC (Engineering, Procurement and
Construction) contracts? Give any 4 advantages of entering into a EPC contract?
Answer: Define LOI: A Letter Of
Intent (LOI) may be defined as an agreement between two or more parties to do
business together before signing the contract. It signifies an intention to do
the business at later date. It is the
Q.3: Explain the different key project documents.
A.Description of key project documents.10 (2 marks each)
Answer: Description of key
project documents: These documents are as follows:
Business case: It is a kind of
agreement or contract or a decision analysis report which signifies that the
project has been approved for commencement. It is managed between two parties
for offering of services. In the
Q.4: Write short notes on:
• Developments in
financing of construction projects in India.
• Importance of cost of
capital in project selection.
• Principles employed by
organisations to manage working capital.
Answer: Developments in financing
of construction projects in India: Indian construction is in a nascent stage as
compared to other developed countries, such as US or UK. India lacks in basic
constructions, such as highways, airports and seaports. The Indian government
is striving to address the problem by encouraging the
Q5. What are the problems associated with BOOT projects.( Explanation
of the main problems associated with BOOT projects, Conclusion ) 9, 1
Answer: Problems in BOOT
Projects: Although BOOT model is beneficial for certain projects, there are
many risksand problems associated with it and may act as a constraint in
theimplementation of these projects. The main problems associated with
BOOTprojects are as follows:
Q6. Explain the different types of management contracts (a type of
PPP). (List the types of management contracts, Explain each type of management
contract) 1, 9
Answer:Management contracts: It
is a type of PPP in which the public sectorenters into an agreement with the
private sector for managing a whole or apart of a public enterprise. In such a
contract, the ownership is retained bythe public sector. Management contract
allows the public sector to takeadvantage of the skills and expertise of the
private sector in labour management and procurement, service designing,
operational control, etc.Under this
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PM 0013 – MANAGING
HUMAN RESOURCES IN PROJECTS
BK ID - B1939
CREDIT AND MARKS - 4
CREDITS AND 60 MARKS
Q1. Write short notes on: 10
Project
resources
Need for
human resource management
Project
manager
Answer: Project Resources:
Project resources are the materials and assets that are required to execute a
project. These can be human resources, funds, machineries, equipment, and
physical facilities. A project plan cannot be put into action if the resources
are allocated and utilised properly. Therefore, a project manager should ensure
sufficient allocation and efficient utilisation of projectresources. Let us
Q2. What are the major challenges in developing an efficient project
team? 10
Answer: Challenges in developing
a project team: When a team of diverse personalities is formed, it brings
challenges such as communication gap and relationship problems Therefore, a
project manager identify the challenges and resolve them efficiently before
they start disturbing the project. Let us discuss the
Q3:Write short notes on: 10 (2.5 marks each)
• Skills required by a
project manager
• Delphi technique of
estimating manpower requirements of projects
• Importance of
leadership in project management
• Goal setting theory
ANSWER: Skills required by a
project manager: While running a project, the project manager needs to handle
various resources, information, tools etc. and apply analytical skills to make
efficient and effective utilisation of the situation. Therefore, it is
important that organisations hire project managers who possess certain
leadership skills and competencies to carry out the assigned responsibilities
Q4. What measures would you follow to deal with poor performers? (List
the measures you would follow to deal with poor performers, Explain the reason
why you choose these measures, Explain the various measures you would follow to
deal with poor performers and, Analyse how these measures will improve the
performance) 1, 1, 4, 4
Answer: Dealing with Poor
Performers in a Project Team: In a project where multiple people work on
different tasks, it may not possible for everyone to meet or exceed the desired
performance standard. Sometimes, there may be employees whose performance level
is below, average or poor. They may not
Q5:Explain various types of collective bargaining. (Explanation of four
types of collective bargaining) 10 (2.5 marks each)
ANSWER: Collective bargaining
develops employees’ responsibility towards the society and limits exploitation
of labour during project operations. It can be of four types as
Q6: Discuss the concept of issue logs. (Explain what is an issue log ,
Why should project managers solve issues, give examples , What details does an
issue log contain , Explain how this issue log helps a project manager)1, 2, 5,
2
ANSWER: Issue log: During the
execution of a project, a project manager faces several issues that may impact
the project significantly. An issue is a problem, gap, inconsistency or
conflict that may arise unexpectedly during a project. These issues may be
related to team members, suppliers, distributers,
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