SEM 2 – MB0049-Project Management SMU MBA WINTER 2015 -2016

Winter-2015

SMU MBA WINTER 2015 -2016

Dear Students,

SMU MBA WINTER 2015-2016 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420  or S M S your “ Email ID ” us in the following Format  “  On +91 9995105420 we will reach back you with in 24H ”

Master of Business Administration- MBA Semester 2

MB0049-Project Management-4 Credits

(Book ID: B1632)

Assignment (60 Marks)

Note: Answer all questions within 300 to 400 words each. Each Question carries 10 marks 6 X 10=60

Q1. Explain the various phases of the project management life cycle.

Answer. List and describe the various phases of the project management life cycle:-

The Five Steps in the PM Life Cycle

No matter what project it is that you’re preparing for, the project management life cycle can assist you and your team in narrowing the project’s focus, keeping it’s objectives in order and finishing the project on time, on budget and with a minimum of headaches.

Every project management life cycle contains five steps: Initiation, Planning, Execution, Monitoring/Control and Closure. No one step is more important than the other and each step plays a crucial role in getting your

 

Q2. Write short notes on:

  1. Economic feasibility of a project
  2. Need for project planning
  3. Diversity management
  4. Rules for network construction

Answer. 1. Economic feasibility

A feasibility study may also include an economic analysis of the project. The purpose of economic analysis is to determine whether there is an economic case for the investment decision. This assessment goes beyond the items typically included in a financial analysis. Economic feasibility is interested in:

  1. the economic benefits from the project
  2. the economic costs of the project
  3. the balance of these expressed in present value terms (the net economic benefit)

Economic costs and benefits are not always the same as financial cost and benefits. Economic analysis includes project impacts that do not have a market price and positive and negative impacts that are experienced by people who are not the direct users of the services. It is in this way that economic analysis casts a broader

 

Q3. What are the key steps for effective risk management? Explain any FIVE risk identification techniques.

Answer. Step 1: Identify the Risk. You and your team uncover, recognize and describe risks that might affect your project or its outcomes. There are a number of techniques you can use to find project risks. During this step you start to prepare your Project Risk Register.

Step 2: Analyze the risk. Once risks are identified you determine the likelihood and consequence of each risk. You develop an understanding of the nature of the risk and its potential to affect project goals and objectives. This information is also input to your Project Risk Register.

 

Q4. Write short notes on

  1. Parametric estimating tool of cost estimating
  2. Procurement process
  3. Project team’s responsibilities in project execution
  4. Project termination

Answer. 1. 4 Tools to Estimate Costs in the Project Management:

In the Estimate Costs process, the cost of each project activity is estimated. An interesting thing about this process is that it also uses the same three tools used in the Estimate Activity Duration process. In the estimate activity duration process, you were determining the time taken by each activity and now, in estimating costs process, you have to calculate the total cost of the project.

In this process, the cost of each activity is determined, which includes the cost of human hours, the cost of equipment, and the

Q5. What is Quality planning? Explain the inputs, tools and techniques and outcomes of quality planning.

Answer: Quality planning is the creation of an actionable plan that defines and ensures quality from concept to delivery. During the planning process, steps to measure and maintain quality are inserted at every level, from setting objectives to establishing policies and procedures. In this situation, a company would either establish a quality planning team that makes revisions to an original plan, imbeds quality planning procedures in their regular planning process or replace the planning process entirely. Here is an overview of the quality

Q6. Describe the various types of project performance evaluation techniques. List any FOUR benefits of performance measurement and evaluation.

Answer. 4 types of project performance evaluation techniques:

  1. Ecological Assessment

Completing an ecological assessment of a wetland prior to its disturbance is a critical first step to achieving a successful mitigation project. Wetland mitigation must be based on an understanding and quantification of the ecological functions that exist prior to disturbance (Richardson, 1994). Ecological assessment is defined here as an assessment of the entire wetland system and includes evaluation of both the biotic and

 

SMU MBA WINTER 2015 -2016

Dear Students,

SMU MBA WINTER 2015-2016 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420  or S M S your “ Email ID ” us in the following Format  “  On +91 9995105420 we will reach back you with in 24H ”