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PROJECT TOOLS & TECHNIQUES

 MBA in Project Management

Assignment – 2021

 

 

 

 

 

Answer any 8 of the below questions. Each question carries 12.5 Marks

 

Question 1:

 

Project and Production sounds similar and the two concepts are often confused with each other. However, in practice they are different and require different skills, governance and mindsets.

Discuss the relation between project and production in detail.

 

Answer: What is a project?

A project is a temporary endeavor, with a clear definition of what needs to be delivered and by when.

 

A project has a beginning and end date. The delivery team is disbanded when complete until the next project initiates, which could be years afterwards. Most projects make plans at the beginning where the least is known about what could go wrong and what the needs are.

 

Customers don’t care about projects, customers care about the value your service offers them. That is why the notion of products were born.

 

 

Question 2:

Supply chain management is a network of those businesses that are interconnected with each other in the manufacturing of products and delivering of services.

Explain the importance of production as part of the supply chain management.

 

Answer: Supply change management is a highly-detailed system used by small and large organizations alike to get products to consumers, from obtaining raw materials, manufacturing and delivering the final product to the customer. A well-organized supply chain management system involves optimizing operations functionality to be fast and efficient.

 

Why is Supply Chain Management So Important?

 

 

 

 

 

Question 3:

The project lifecycle is a framework designed to help project managers guide their projects successfully from start to finish.

Elaborate the different stages in a life cycle of a project.

Answer: The project management life cycle describes high-level processes for delivering a successful project. For every $1 billion invested in projects by companies in the United States, $122 million was wasted due to lacking project performance, according to Project Management Institute Research.

 

Wasted money and resources can be prevented with effective project management, as 57% of unsuccessful projects fail due to communication breakdown. In the phases of the project management life cycle, you come up with the idea for a project, define its goals, plan for its execution, and guide it to completion.

 

 

 

 

Question 4:

Project execution is the stage of the project where everything that is planned is put into action.

List out the problem faced while executing a project.

Answer: Despite the availability of multiple resources, project management tools, training materials, and flexible methodologies, companies are still wasting millions of dollars every year and are struggling to tackle the project management challenges and issues they face.

 

A study published in the Harvard Business Review

 

 

 

Question 5:

The A-O-A and A-O-N will come under PERT, which is a well-known method that is used to analyze various tasks when it comes to completing a project.

Why is A-O-N network considered as an alternative to A-O-A network?

Answer:

 

 

 

Question 6:

PERT charts are tools used to plan tasks within a project- making it easier to schedule and coordinate team members accomplishing the work.

What are the standard PERT assumptions and discuss the alternatives to PERT?

Answer:

 

 

Question 7:

Burgess & Killebrew have designed an eight-step procedure to minimize the total sum of squares of resource usage. Discuss each step-in detail.

 

Answer: BURGESS & KILLEBREW HEURISTIC

This is an eight step procedure designed to minimize the total sum of squares of the resource usage.

It thus looks at the whole profile and not just the peak(s).

In case of multiple resources the most important resource is considered first, followed by the next and so on.

 

 

STEP 1

List project activities in order of precedence by arranging the arrow head numbers in ascending order. When two or more activities have the same head number, list them so that the arrow tail numbers are also in ascending order. Add to this list, the duration, the early start and slack values for each activity.

 

 

 

 

 

Question 9:

Critical path method is an algorithm for scheduling a set of project activities.

How can we determine the critical path and what are the difficulties faced during path enumeration?

 

Answer: In project management, the critical path is the longest sequence of tasks that must be completed to successfully conclude a project, from start to finish. The tasks on the critical path are known as critical activities because if they’re delayed, the whole project will be delayed. By identifying the critical path, you can determine the total duration of a project, and you’ll have a clear picture of the project’s actual schedule.

 

To find the critical path, project managers use the

 

 

 

Question 10:

 

For managing a project different resources are required to carry out the project tasks.

Discuss the renewable and non- renewable resources used in a project.

 

Answer: In the PERT/CPM scheduling techniques , project activities are characterized by their estimated duration(s) and project networks are constructed by adding precedence relations between these activities. It is therefore implicitly assumed that these activities do not require resources during their execution (or alternatively, the assumption is that the resources are unlimited in availability). In practice, activities need resources during their execution that are

 

 

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DBA - SBS Solved assignments

 

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ü  Tick the right answer (always 1 out of 5):

Question 1: Promoting “Personal Leadership Development” is a major goal of the Contemporary Management module. For this purpose, Joseph L. Badaracco Jr.’s classic concept of “Defining Moments” (1997) can be helpful.

What does “Defining Moments” mean?

1	Identfying the best moments to make pivotal decisions and take measures in critical situations
2	Existential challenges where one has to distinguish right from wrong under time pressure	√
3	Situations where we are asked to choose between two or more ideals in which we deeply believe
4	Special moments in a complex iterate process where key factors and interactions come to light
5	Crucial points in time in the early stages of a leader-follower relation that determine its further direction and success

 

Answer:

 

Question 2: “Authentic Leadership” represents one of the newest areas of leadership research, responding to strong contemporary demands in society. There are multiple definitions. Taking a developmental approach Walumbwa et al. (2008) conducted a comprehensive research to determine what components constituted “Authentic Leadership”.

Two of them are...

1	-      Self-Awareness -      Relational Transparency
2	-      Internalized Moral Perspective -      Emotional Intelligence
3	-      Balanced Processing of Information -      Social Competence
4	-      Emotional Intelligence -      Self-Awareness
5	-      Social Competence -      Internalized Moral Perspective

 

 

Question 3: “Transformational Leadership” is another current and most popular approach to leadership and part of the so-called “New Leadership” paradigm.

Which of the following statements represents a typical self-appreciation of a true “Transformational Leader”?

1	“I make clear what one can expect to receive when performance goals are achieved”
2	“I avoid making irrevocable decisions that affect other people”
3	“I keep track of all mistakes since that’s when leadership is really challenged”
4	” I reexamine critical assumptions to question whether they are appropriate”
5	“You have to trust your people - that’s why I often wait for things to go wrong before taking action”

 

 

Question 4: Although everyone has an ethical responsibility, leaders have a special responsibility because the nature of their leadership puts them in a special position: They have more power and control to influence other people’s life.

Many recent scandals in business, finance or politics have furthered the interest in ethics in general and - with their origin traced back in the Western tradition to the ancient Greeks - ethical theories are experiencing a resurgence in popularity also in the world of business.

Ethical Leadership....

1	...follows generally accepted standards of morally superior conduct
2	...suggests that actions are moral if their primary purpose is to promote the best interest of others
3	...focusses on the value system that forms a leader’s character
4	...cannot be practiced under unfavourable political, social or economic conditions
5	...requires the individual leader to do the right things with the right intentions

 

Question 5: Globalization has increased the need for leaders to become competent in cross-cultural awareness and practice. Hofstede’s (1980, 2001) work has been the benchmark for much of the research on world cultures. He identified five major dimensions on which cultures differ. In the specific area of culture and leadership, the “GLOBE Study of 62 Societies” (House et al, 2004) offers the strongest body of findings to date. Based on their research and the work of others the authors identify nine cultural dimensions that increase our understanding of cross-cultural interactions and the impact of culture on leadership effectiveness.

While several of these GLOBE dimensions refer in one way or another also to Hofstede’s dimensions, two of them are identical. Which ones?

1	-      Gender Egalitarism -      Humane Orientation
2	-      Uncertainty Avoidance -      Power Distance
3	-      Humane Orientation -      Uncertainty Avoidance
4	-      Institutional Collectivism -      Humane Orientation
5	-      Power Distance -      Assertiveness

 

 

Simple multiple choice questions

Tick the right answer þ (only 1 is correct):

1. Which of the following does NOT apply to quantitative research?

¨  It uses the scientific method

¨  It gives rise to less reliable data than qualitative research  

¨  It aims to describe, explain and predict phenomena

¨  Its methods are tighter and more rigorous than in qualitative research

 

2. What is the correct ordering of the stages involved in planning research?

¨  Formulate the hypothesis, carry out the study, design the study, analyze the results

¨  Design the study, formulate the hypothesis, carry out the study, analyze the results

¨  Formulate the hypothesis, design the study, carry out the study, analyze the results

¨  Design the study, carry out the study, formulate the hypothesis, analyze the results

 

 

3. Quantitative research is influenced by the __________________ approach.

¨  Positivism

¨  Constructivism

¨  Interpretivism

¨  None of the above

 

4. In the following study, what is/are the independent (predictor) variable(s)?

A researcher is interested in looking at stress levels in people of different ages and occupations.

¨  Age

¨  Occupation

¨  Stress

¨  Both (a) and (b)

 

5. Why might cross-sectional designs be used?

¨  To save time and money

¨  To show how the same individuals change over time

¨  To avoid the confound of participant variables

¨  To compare the effects of a program before and after intervention.

 

6. Research has shown that after-sales services are crucial in building customer loyalty and maintaining company reputation. What is another key reason that after-sales services should receive particular attention of top management? 

¨  these services are almost always more profitable than the actual sale of primary good itself

¨  these services are very difficult to duplicate

¨  these services can be very heavily advertised

¨  these services cost almost nothing

¨  degree of outsourcing service support

 

 

7. Looking broadly across several cultures, two important lessons with respect to negotiation standout. One of those lessons is that: 

¨  regional generalizations are generally true.

¨  regional generalizations are generally not correct.

¨  stereotyping is a useful tactic.

¨  generalizations are usually useful as a form of secondary research. supply does not always match demand.

 

8.____________ knowledge about a culture is usually obvious and must be learned. 

¨  Factual 

¨  Interpretative

¨  Virtual

¨  Historical

¨  Superstitious

 

9. Relations between governments and multinational corporations are generally positive if investments: 

¨  Are tied to national security.

¨  Are only oriented toward the consumer sector.

¨  Are under $1 million.

¨  Create jobs.

¨  Do not involve extensive Internet business.

 

10. Bert Wong has decided to pursue a marketing research effort to acquire information before his company makes a strategic relocation move to the West Coast. Which of the following marketing research process steps would be the first step that Bert's company (and marketing researchers) should take as it embarks on the research effort? 

¨  Define the research problem and establish research objectives.

¨  Analyze, interpret, and summarize the results.

¨  Determine the sources of information to fulfill the research objectives.

¨  Consider the costs and benefits of the research effort.

¨  Gather relevant data from secondary or primary sources, or both.

 

11. Business research is defined as:

¨  An attempt to provide management with the proof that their business idea or paradigm is the right one

¨  The sequence of trial and errors conceived to discover what we think is discoverable

¨  The use of an existing theory to support what the company allegedly needs to do in order to make a project profitable

¨  A preliminary inquest within the company in order to define what the stockholders want to hear and later identify what kind of data we need to gather to prove them right or wrong

¨  A systematic investigation aimed at discovering data and/or to develop a theory

 

 

 

 

12. In Business we often hear about companies basing their decision, on research:

¨  Primarily secondary research

¨  Exclusively primary research

¨  Any proper combination of primary and secondary research or as long as it is structured, logical and conclusive

¨  any kind of research as long as it does not cost too much

¨  run research only when it adds to the reputation of the firm

 

13. In many instances research leads to rely on secondary research, such as:

¨  Listing the largest body of internet articles more or less related to the researched issue

¨  Identifying as many texts book as possible on the researched issue

¨  Predominantly consult and liberally use university articles on the subject

¨  Screen the most relevant sources (articles and books alike) and compare them

¨  Review the available literature and start by critically comparing the sources most focused on the issue at end

 

14. When facing a large body of knowledge, the researcher screens it by:

¨  Giving priority to the reputation of the author

¨  Giving priority to the most recent articles

¨  Giving more importance to articles coming closer to the research question

¨  Giving priority to the articles showing a higher level of philosophical underpinnings

¨  C and D

 

15. After screening the appropriate literature the researcher:

¨  Compiles the best ideas that suit the research questions and draws conclusions

¨  Compare, contrasts and finely analyze all relevant literature to draw preliminary conclusions

¨  Charts the results of each article and draws conclusions based on their average outcome

¨  Adds more literature if he/she does not like the suggested outcome

¨  Uses C. to decide if further research is needed

 

 

 

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