MB 0049 – PROJECT MANAGEMENT – Fall 2016

ASSIGNMENT

 DRIVE         FALL  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:

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 critical path method (CPM).

The PERT chart may have multiple pages

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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

 

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,

 

Question.3 Answer the following questions:

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.

Specifications: The first step in the bidding process deals with coming up with the specifications for the job. The company or

 

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 team is completing the current project. They will be joining other teams and moving on to other work in the near future. For a high performing team, the end of a project brings on feelings of sadness as the team

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Question.4. Explain the purpose of Project Final Report. 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

Question.5 Write short notes on

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, because achieving a project’s goals depends on planning, preparation, results and evaluation that

Quality assurance

Answer: Quality assurance (QA) is a way of preventing mistakes or defects in manufactured products and avoiding problems when delivering solutions or services to customers; which ISO 9000 defines as “part of quality management focused on providing confidence that quality requirements will be fulfilled”. This defect prevention in quality assurance differs subtly from defect detection and rejection in quality control, and has been referred to as a shift left as it focuses on quality earlier in the process.

 

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 measurements of the project management triangle:

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