MB 0049 - PROJECT MANAGEMENT

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ASSIGNMENT

DRIVE	SPRING 2016
PROGRAM	MBA/ MBADS/ MBAFLEX/ MBAHCSN3/ PGDBAN2
SEMESTER	II
SUBJECT CODE & NAME	MB 0049 - PROJECT MANAGEMENT
BK ID	B1632
CREDITS&MARKS	4 CREDITS , 60 MARKS

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 Write Short notes on:

1. PERT model

Answer:The program (or project) evaluation and review technique, commonly abbreviated PERT, is a statistical tool, used in project management, which was designed to analyze and represent the tasks involved in completing a given project. First developed by the United States Navy in the 1950s, it is commonly used in conjunction with the

2. CPM model

Answer:Cost per impression (CPI), or "Cost per thousand impressions" (CPM), is a term used in traditional advertising media selection, as well as online advertising and marketing related to web traffic. It refers to the cost of traditional advertising or internet marketing or email advertising campaigns, where advertisers pay each time an ad is displayed. CPI is the cost or expense incurred for each potential customer who views the

Question.2 Explain Project Life Cycle in detail?

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, implementation, and closure. Taken together, these phases represent the path a project takes from

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.

2. 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.

In 1977, Tuckman, jointly with Mary Ann Jensen, added a fifth stage to the 4 stages: "Adjourning." The adjourning stage is when the

Question.4. Discuss the major contents of the project’s final report

Answer:A Draft Final Report should be as close to the final report as possible – Stage 1 outlines the basic structure. At this stage the Principal Investigator should have had the report proof read, edited and if applicable designed. They should have also sought feedback and if required undertaken peer review.

Question.5 Write short notes on

1. Role of risk management in overall project management

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,

Question.6 Explain Earned Value Method (EVM) in detail? How can a project manager manage the Project Schedule if team members don’t accurately report when they are behind?

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 measu

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