PM0010 – INTRODUCTION TO PROJECT MANAGEMENT

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Assignment

DRIVE	FALL 2015
PROGRAM	MBADS (SEM 3/SEM 5) MBAFLEX/ MBA (SEM 3) PGDPMN (SEM 1)
SEMESTER	FOURTH
SUBJECT CODE & NAME	PM 0010 – INTRODUCTION TO PROJECT MANAGEMENT
BK ID	B1936
CREDIT & MARKS	4 CREDITS & 60 MARKS

1. What are phases of project lifecycle?

Answer: The project life cycle consists of four phases, initiation, planning, execution (including monitoring and controlling) and evaluation. The project manager will then create the following plans:

Resource Plan: to identify the staffing, equipment and materials needed

Financial Plan: to quantify the financial expenditure required

Quality Plan: to set quality targets and specify Quality Control methods

Risk Plan: to identify risks and plan actions needed to minimise them

Acceptance Plan: to specify

2 Write short notes on:

(a)Project development

Answer: Project Management is the process and activity of planning, organizing, motivating, and controlling resources, procedures and protocols to achieve specific goals in scientific or daily problems. A project is a temporary endeavor designed to produce a unique product, service or result with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables), undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value. The temporary nature of projects stands in contrast with business as usual (or operations), which are repetitive, permanent, or

(b) Project organisation: It is the way we deliver projects! Effective organisation is crucial to the successful delivery on time, to budget and to specification. However:

·         How much time and attention do we really pay to this topic when initiating new projects?

·         How much time and effort do we spend on improving the organisation, initiation and mobilisation of strategic projects?

(c) Factors affecting collection of market-related information: When the company makes profits, you often receive a part of it. This is the idea behind dividends. Every year, companies distribute a small amount of profits to investors as dividends. This is the primary source of income for long-term shareholders – those who don’t sell the stock for years together. Different companies issue varied amounts of shares when they

(d) Term loans as a means of financing projects: The financing of long-term infrastructure, industrial projects and public services based upon a non-recourse or limited recourse financial structure where project debt and equity used to finance the project are paid back from the cashflow generated by the project.

3 Explain the concept of Social Cost Benefit Analysis (SBCA)? List the application of SBCA and describe the challenges in SBCA.

Answer: Social cost-benefit analysis is a systematic and cohesive economic tool(method) to survey all the impacts caused by an urban development project. It comprises not just the financial effects (investment costs, direct benefits like tax and fees, et cetera), but all the social effects, like: pollution, safety, indirect (labour) market, legal aspects, et cetera. The main aim of a social cost-benefit analysis is to attach a price to as many effects as possible in order to uniformly weigh the above-mentioned heterogeneous effects. As a result, these prices reflect the value a society attaches to the caused effects, enabling the decision maker to

4 Discuss the financing of a power project.

Answer: Project finance is the long-term financing of infrastructure and industrial projects based upon the projected cash flows of the project rather than the balance sheets of its sponsors. Usually, a project financing structure involves a number of equity investors, known as 'sponsors', as well as a 'syndicate' of banks or other lending institutions that provide loans to the operation. They are most commonly non-recourse loans, which are secured by the project assets and paid entirely from project cash flow, rather than from the general assets or creditworthiness of the project sponsors, a decision in part supported by financial modeling. The financing is typically secured by all of the project assets, including the revenue-producing contracts. Project lenders are given a lien on all of these assets and are able to assume control of a project if the project company has difficulties complying with the loan terms.

Generally, a special purpose entity is created for each project, thereby shielding other assets owned by a project sponsor from the detrimental effects of a project failure. As a special purpose entity, the project company has no assets other than the project. Capital contribution commitments by the owners of the project company are sometimes necessary to ensure that the project is financially sound or to assure the lenders of the sponsors' commitment. Project finance is often more complicated than alternative financing methods. Traditionally, project financing has been most commonly used in the extractive (mining), transportation, telecommunications industries as well as sports and entertainment venues.

Risk identification and allocation is a key component of project finance. A project may be subject to a number of technical, environmental, economic and political risks, particularly in developing countries and emerging markets. Financial institutions and project sponsors may conclude that the risks inherent in project development and operation are unacceptable (unfinanceable). "Several long-term contracts such as construction, supply, off-take and

5 Explain the types of procurement contracts.

Answer: Procurement contracts can be broadly divided into three categories:

·         Fixed Price Contract

·         Cost Reimbursable Contract, and

·         Time and Materials

Fixed Price Contract

A Fixed Price Contract is also known as a lump-sum contract. This type of contract is used when there is no uncertainty in the scope of work. Once the contract is signed, the seller is legally bound to complete the task within the agreed amount of m

6 What is the purpose of project evaluation? Which the four dimensions of the project explain the purpose of project evaluation?

Answer: Project evaluation objectives:

·         Analyse the process of implementation, focusing on participation of the community

·         Analyse the impact or changes that have occurred within beneficiary households and the community

·         Identify problems and constraints that

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