PM0010 – INTRODUCTION TO PROJECT MANAGEMENT

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DRIVE

Summer 2016

PROGRAM

MBADS (SEM 3/SEM 5)

MBAFLEX/ MBA (SEM 3)

PGDPMN (SEM 1)

SUBJECT CODE & NAME

PM 0010 – INTRODUCTION TO PROJECT MANAGEMENT

Q1. a. Describe the characteristics of a project b. Explain the triple constraints in project management(a. List and explain the characteristics of a project b. State the meaning of constraints Describe the triple constraints with the help of examples.) 6, 4

Ans: Characteristics of a Project: Every project has a unique goal, and it intends to serve some specific objectives of an organisation. For example, highway projects undertaken by

construction organisations are different in terms of scope, time involved, and requirement of resources as compared to any product development project undertaken by an organisation. However, general characteristics

Q2: Write short notes on:

 Project development

 Project organisation

 Factors affecting collection of market-related information

 Term loans as a means of financing projects

(Project development, Project organization, Factors affecting collection of market-related information, Term loans as a means of financing projects) 2.5, 2.5, 3, 2

ANSWER:

Project development: In this phase of project management lifecycle, the progress of the project is monitored and controlled. This phase also provides a measure to ensure that the project deliverables meet the expectations of customers or clients.

This phase is

Q3. Explain the L-M approach of SCBA.( a. Explain the L-M approach stating the basic features of the approach b. State how to calculate the actual value of resources in this approach) 5, 5

Ans: Little-Mirrlees approach: L-M approach was developed by I.M.D Little and J.A. Mirrlees, and is similar to the UNIDO approach. The L-M approach is based on the assumption that the social cost of using a resource is substantially different from the actual price paid for that resource due to market imperfections. Therefore, in the LM approach, shadow price refers to the actual value of resources to the society. The

Q4: Discuss the financing of a power project.

(Elucidate which are key project parties in a power project, Mention the key points of PPA(Power Purchase Agreement),Discuss the 3-tier security payment mechanism )2,5,3

ANSWER:

Elucidate which are key project parties in a power project:

Government: The government is a key project party in an infrastructure project. It initiates the tendering process, evaluates the tenders and grants sponsors the right to set up and operate the project.

Project

Q5: What do you understand by Procurement Planning? Discuss the various factors affecting procurement planning. List out the tools and techniques used for procurement planning.

Discuss Procurement Planning

ANSWER:

Procurement planning is the process of identifying the project requirements that can be acquired at the best possible costs from external sources. It is required to decide:

The need for

Q6: What is the purpose of project evaluation? Which the four dimensions of the project explain the purpose of project evaluation?

(Mention the purpose of project evaluation, List the four dimensions of the project that explain the purpose of project evaluation, Discuss four dimensions of the project that explain the purpose of project evaluation)1,1,8

ANSWER:

The purpose of project evaluation :

The purpose of project evaluation is to measure the “success” of a project. Accordingly, projects are evaluated on the basis of the indicators of success or failure such as profitability, competency, efficiency and future prospect. The success of a project has been defined by different researchers through

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