MB0049 - PROJECT MANAGEMENT

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ASSIGNMENT

DRIVE	SPRING 2017
PROGRAM	MBA/ MBADS/ MBAFLEX/ MBAHCSN3/ PGDBAN2
SEMESTER	II
SUBJECT CODE & NAME	MB0049 - PROJECT MANAGEMENT
BK ID	B1632
NUMBER OF ASSIGNMENTS, CREDITS &  MARKS	2, 4 Credits, 30 marks each

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.

Question.1. Explain Phases of Project Management Life Cycle in detail. What are Project Management Principles?  

Answer: The project manager and project team have one shared goal: to carry out the work of the project for the purpose of meeting the project’s objectives. Every project has a beginning, a middle period during which activities move the project toward completion, and an ending (either successful or unsuccessful). A standard project typically has the following four major phases (each with its own agenda of tasks and issues): initiation, planning

Question. 2 Write Short Notes on Project Planning & Work Breakdown Structure (WBS).

Answer:

 1. Project Planning

Answer: Project planning is a discipline for stating how to complete a project within a certain timeframe, usually with defined stages, and with designated resources. One view of project planning divides the activity into:

·       Setting objectives (these should be measurable)

2. Work Breakdown Structure (WBS)

Answer: A work breakdown structure is a key project deliverable that organizes the team's work into manageable sections. The Project Management Body of Knowledge (PMBOK) defines the work breakdown structure as a "deliverable oriented hierarchical decomposition of the work to be executed by the project team." The work breakdown

Question.3 Answer the following questions:

1. Mention the steps involved in a competitive bid.

Answer: If you run a small business, you might engage in the bidding process regularly. Whether you are the one accepting the bids or you have to bid on jobs, the basic steps are typically the same. Completing the bidding process in the proper manner could be the difference between getting a bid or looking for work.

Specifications: The first step in the bidding process deals with coming up with the specifications for the job. The company or customer looking for bids has to develop specifications for the bidding process. For example, if the customer needs a

Q2. Mention the elements/points that must be kept in view when designing , developing and operating a PMIS (Project Management Information System)

Answer:His theory, called "Tuckman's Stages" was based on research he conducted on team dynamics. He believed (as is a common belief today) that these stages are inevitable in order for a team to grow to the point where they are functioning effectively together and delivering high quality results.

Assignment Set -2

Questions

Question.1. What is Value Engineering? Explain the process & Stages of Value Engineering.

Answer: Value engineering is used to increase the value of products. Value is a ratio of function to cost. The value of a product can be increased by reducing its cost or increasing the function. Value engineering is an organized technique to reduce the cost of a product without compromising with its quality, reliability, performance, appearance, safety, utility etc.

Steps for value Engineering :

1.    Establish the objectives – Example - cost 

Question.2 Write short notes on

1. Role of risk management in overall project management Quality assurance

Answer: Effective risk management strategies allow you to identify your project’s strengths, weaknesses, opportunities and threats. By planning for unexpected events, you can be ready to respond if they arise. To ensure your project’s success, define how you will handle potential risks so you can identify, mitigate or avoid problems when you need to do. Successful project managers recognize that risk management is important, because achieving a project’s goals depends on planning, preparation, results and evaluation that

2. Quality assurance

Answer: Quality assurance (QA) is a way of preventing mistakes or defects in manufactured products and avoiding problems when delivering solutions or services to customers; which ISO 9000 defines as "part of quality management focused on providing confidence that quality requirements will be fulfilled". This defect prevention in quality assurance differs subtly from defect detection and rejection in quality control, and has been referred to as a shift

Question.3 Explain Earned Value Method (EVM) in detail?

Answer:Earned value management (EVM), or Earned value project/performance management (EVPM) is a project management technique for measuring project performance and progress in an objective manner.

Earned value management is a project management technique for measuring project performance and progress. It has the ability to combine measurements of the project management triangle:

·       Scope

·       Time

·        

·       imates.

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