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Master of Business Administration- MBA Semester 4
ML0018 – Project Management in Retail – 4 Credits
(Book ID: B1335)
Assignment Set – 1 (60 Marks)
Note: Answer all questions (with 350 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60
Q1. Explain the project life cycle in detail ? 01+08+01=10
Answer : The Project Life Cycle refers to a logical sequence of activities to accomplish the project’s goals or objectives. Regardless of scope or complexity, any project goes through a series of stages during its life. There is first an Initiation or Birth phase, in which the outputs and critical success factors are defined, followed by a
Q2. Explain the concept and steps involved in ‘Project Decision Matrix’. 01+09=10
Answer : Making the right decision can add significantly to your organization’s bottom line in terms of cost savings and increased efficiency. Outsourcing can bring fresh minds to your business, and it can also free time up for innovation and other vital tasks. However, making the wrong decision can put your business at a competitive disadvantage. Perhaps you’ll lose control of proprietary information, or receive components
Q3. Explain the steps followed to formulate a simple retail project? 00+10=10
Answer : 10 Steps to Starting a Retail Business
The dream of owning your own retail business can easily become a reality. It may take a lot of initial work, but with the right planning anyone can achieve their goals. The following steps to opening a retail business should be used
Q5. Explain the first 5 stages in retail project execution. 00+10=10
Answer : Whether a project is large or small, the stages of a project are ultimately the same. Initiate the project, and then move into planning, followed by execution. Once the project is in the execution stage, you’ll monitor and control it, which will continually influence changes that loop back to the planning stage as necessary. Once all project tasks are complete and approved, you will finally be ready to close the project.
Q6. Describe the Five Stages of Project Life Cycle in Retail Management 00+10=10
Answer : This is the initial phase of any project. In this phase information is collected from the customer pertaining to the project and the requirements are analyzed. The entire project has to be planned and it should be done in strategic manner. The project manager conducts the analysis of the problem and submits a detailed report to t
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