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Management
Programme
ASSIGNMENT
FIRST SEMESTER
(January to June) 2020
MS
– 52: Project Management
ASSIGNMENT
|
Course Code :
|
MS-52 |
|
Course Title : |
Project Management |
|
Assignment Code : |
MS-52/TMA/SEM - I /2020 |
|
Coverage : |
All Blocks |
Note
: Attempt all the questions and submit this assignment to the coordinator of
your study center on or before 30th April, 2020.
Question. 1.
“Implementing projects involving large expenditure is a strategic decision”.
Explain the financial analysis of projects in view of the statement. Also,
explain the economic analysis of the project.
Answer: Implementing projects, involving large expenditure is a strategic decision - it is both long term and not easily reversible. Wrong decision can land the company into major problems. At the same, without taking up projects for expansion and upgradation, companies cannot maintain and improve their profitability. These projects involving large capital outlays have to be appraised from a `private' or financial point of view - this evaluation is from the view point of promoters who may be individuals, corporate, commercial and development institutions, 'development corporations, central or state governments or their
Question. 2.
“Short-term funds are required for meeting the working capital requirement of
the company”, Explain the various sources for short term rupee fund.
Answer: Some of the Major sources to meet requirements of Short-Term Working Capital (a) Borrowings from Banks (b) Trade credit (c) Installment credit (d) Consumer Credit or Customer Advances and (e) Accounts Receivable Financing!
Other methods are used for short-term financing. Short-term credit is generally used as a means of financing circulating assets and meeting
Question. 3. “A good
accounting system is a sine-qua-non for the success of any organized business
activity,” Explain accounting system in the light of project management.
Answer: A successful business needs to have a good understanding of the total profits and losses for the business as a whole. But for real success it also needs to know the profits and losses for every profit center, every department and each project within the business.
Use cost accounting to gain detailed
Question. 4. “Projects are the plans of action for
hurling forward an organization in the comity of the corporate world”. Explain
the concept of project. Also explain the objectives of commissioning.
Answer: What
is a Project? And what is Project Management?
Organizational
work is performed in the form of operations and projects. Operations are
repetitive and ongoing, while projects are unique and temporary.
For
example, in an accounting firm, the ongoing process to get
more clients and set up their financial accounts can be dubbed as
operation while designing and developing a new business process to enroll
customers can be termed as a project.
A
typical project will require completion of several activities by professionals
from various departments like IT, customer support and operations, etc. Some of
these activities have to be performed sequentially, like developing a
Question. 5. Write
short notes on the following:-
(a) Time Horizon of
Demand Forecasting.
Answer:
Business forecasts are classified according to period,
time and use. There are long term forecasts as well as short
term forecasts. Operation managers need long range forecasts to make
strategic-decisions about products, processes
and facilities. They also need short term forecasts to assist them in making
decisions about production issues that span, only few weeks. Forecasting forms
an integral part of planning and decision making, production managers must be clear about the
horizon of forecasts.
The three divisions
of forecast are short
(b) Integrating
Projects in Functional Organization.
Answer: What is
a Functional organizational Structure?
A Functional project organizational structure consists of project team members
allocated from different functional units of an organization. A typical
organization would have different functional units such as- HR, Finance,
Marketing, Sales, Operations, IT, Administration etc. Each unit will be managed
by a functional unit/business unit head who would be reporting to the strategic
leadership of the organization. In a large organization, the functional unit
heads may have functional managers or operational leadership-level managers
(c)
Objectives of Project Management Information System.
Answer: Project
Management Information System (PMIS) are system tools and techniques used in project
management to deliver information. Project managers use the techniques and
tools to collect, combine and distribute information through electronic and
manual means. Project Management Information System (PMIS) is used by upper and
lower management to communicate with
(d) Computers
Simulation in Project Appraisal.
Answer:
Simulation is an analytical
technique that models the combined effect of uncertainties to evaluate their
potential impact on objectives.
The effects of uncertainties are analysed and translated in to
range estimates in the form of optimistic, most
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students, get fully solved assignments
by professionals
Do send
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