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DRIVE- SPRING 2014
PROGRAM- MBADS (SEM 3/SEM 5) MBAFLEX/ MBAN2 (SEM 3) PGDPMN (SEM 1)
SUBJECT CODE & NAME- PM 0010 – INTRODUCTION TO PROJECT MANAGEMENT
Q1. Write short notes on:
· Project constraints
· Project testing phase of project management life cycle
· Project resources
· Qualitative approach to demand forecasting
Answer:
Project constraints: triple constraints
Constraints refer to the limitation of resources. No project has access to unlimited resources. An organisation allocates budget and resources to a project. In addition, the organisation sets a timeline for the completion of the project. Therefore, a project needs to fulfil the set objectives within a given set or resources. In addition, the deadline and the quality of deliverables are required to be maintained.
Q2. Describe the various project planning tools. (Meaning and listing of project planning tools, Explanation of project planning tools) 2, 8
Answer:
Project managers use various tools and techniques to develop the project plan. These tools and techniques help in improving the existing processes of an organisation. Earlier, bar chart or Gantt chart was considered as the formal planning tool but today, network techniques have gained importance.
Some of the planning tools are as follows:
· Plus-Minus-Interesting
· Cost/benefit Analysis
· Force-Field Analysis
· Cash Flow Forecasts
Q3. Write short notes on:
· Earned value analysis
· Pay Back Period method (PBP) of evaluating investment in project
· Project dependence constraint in multiple project management
· Applications of Social Cost Benefit Analysis (SCBA)
Answer:
Earned value analysis
Earned Value Analysis (EVA) is the most widely used method of determining the progress of a project. It is also known as performance measurement, management by objectives, budgeted cost of work performed and cost schedule control system. This method is named earned value because it integrates the expected performance with estimated cost and
Q4. Discuss the phases of project audit life cycle. (Listing of the phases of project audit life cycle, Explanation /discussion on the phases of project audit life cycle) 1, 9
Answer:
Phases of project audit life cycle
A project audit life cycle consists of six phases,
Q5. What are the various steps involved in the project configuration process? (Explain the meaning of project configuration process, Explain the various steps of project configuration process) 1, 9
Answer:
Project Configuration
Infrastructure projects are complex in nature and require a large amount of capital. Therefore, they involve a greater degree of risk. Project
Q6. What are the main objectives of preparing a project report? Explain the essential elements of a project final report. (Listing of the main objectives of preparing a project report, Explanation of the essential elements of the project report) 3, 7
Answer:
Project Final Report
After terminating the project, the project manager needs to create a project final report. The project final report is a chronological history of the project. It contains key deliverables, evaluation of project performance, and other significant aspects, such as benefits received by the project partners from the project and summary of the project with respect to the main objectives. The report is prepared mainly for the stakeholders. Following are some of the main objectives of the
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