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(Spring/Feb 2013)
Master of Business Administration – MBA Semester 2
MB0049 – Project Management (4 credits)
(Book ID:B1632 )
ASSIGNMENT- Set 1
Marks 60
Note: Assignment Set -1 must be written within 6-8 pages. Answer all questions.
Q1. Describe the CPM model. Briefly explain 10 marks(300-400 words)
Answer : As with Gantt Charts, the essential concept behind Critical Path Analysis is that you cannot start some activities until others are finished. These activities need to be completed in a sequence, with each stage being more-or-less completed before the next stage can begin. These are ‘sequential’ activities.
Q2. Define risk management. What are the different types of risks that can affect a project?10 marks(300-400) words
Answer : Risk management is the continuing process to identify, analyze, evaluate, and treat loss exposures and monitor risk control and financial resources to mitigate the adverse effects of loss.
Loss may result from the following:
- financial risks such as cost of claims and liability judgments
- operational risks
Q3. Briefly discuss the steps to close the project 10 marks(300-400) words
Answer : A lot of text and attention is given to how to start projects, and how to run projects. But process of properly closing down a project is overlooked. Why? Well, since I can say from experience that I’ve been guilty of this in the past, here are my reasons, at least:
- Implementation and transition to support happened so moving on seems reasonable
- Have 4-5 other projects
Q4. Discuss the various steps of PMIS planning.10 marks(300-400) words
Answer : A project management information system (PMIS) contains the information essential for initiating, planning, executing, controlling, and closing a project. For project managers, a PMIS can perform a mission-critical role by detailing a complete picture of all projects in your organization through all the phases of the project life cycle. One of my clients, a global engineering company, took a major step by deciding to
Q5. What are the important approaches to project control? 10 marks(300-400) words
Answer : Applying various project management approaches to the complex task of project management will enable you to ensure that you deliver your project – on time and on budget. On paper project management can look a straightforward enough task, but there is much more to it than simply starting a project, managing staff and organizing goods. Fortunately there are some basic processes and techniques,
Q6. Describe the project planning process and explain it in detail.10 marks(300-400) words
Answer : As we step through the project planning process at the outset of the engagement, we are often going through the motions without really stopping to think about each step along the way. Indeed, some of these may never make it into a master project schedule, but they really should. And some of these steps that I’m about to identify are general in nature and may not be applicable to every type of project, every organization and industry, and every size project – but they actually could be (should be?). Let’s look at these likely basic project planning steps in a little more detail….
Define the problem to be solved by the
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