Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
Call us at : 08263069601
PROJECT TOOLS & TECHNIQUES
MBA in Project Management
Assignment – 2021
Answer any 8 of the below questions. Each question carries 12.5 Marks
Question 1:
Project and Production sounds similar and the two concepts are often confused with each other. However, in practice they are different and require different skills, governance and mindsets.
Discuss the relation between project and production in detail.
Answer: What is a project?
A project is a temporary endeavor, with a clear definition of what needs to be delivered and by when.
A project has a beginning and end date. The delivery team is disbanded when complete until the next project initiates, which could be years afterwards. Most projects make plans at the beginning where the least is known about what could go wrong and what the needs are.
Customers don’t care about projects, customers care about the value your service offers them. That is why the notion of products were born.
Question 2:
Supply chain management is a network of those businesses that are interconnected with each other in the manufacturing of products and delivering of services.
Explain the importance of production as part of the supply chain management.
Answer: Supply change management is a highly-detailed system used by small and large organizations alike to get products to consumers, from obtaining raw materials, manufacturing and delivering the final product to the customer. A well-organized supply chain management system involves optimizing operations functionality to be fast and efficient.
Why is Supply Chain Management So Important?
Question 3:
The project lifecycle is a framework designed to help project managers guide their projects successfully from start to finish.
Elaborate the different stages in a life cycle of a project.
Answer: The project management life cycle describes high-level processes for delivering a successful project. For every $1 billion invested in projects by companies in the United States, $122 million was wasted due to lacking project performance, according to Project Management Institute Research.
Wasted money and resources can be prevented with effective project management, as 57% of unsuccessful projects fail due to communication breakdown. In the phases of the project management life cycle, you come up with the idea for a project, define its goals, plan for its execution, and guide it to completion.
Question 4:
Project execution is the stage of the project where everything that is planned is put into action.
List out the problem faced while executing a project.
Answer: Despite the availability of multiple resources, project management tools, training materials, and flexible methodologies, companies are still wasting millions of dollars every year and are struggling to tackle the project management challenges and issues they face.
A study published in the Harvard Business Review
Question 5:
The A-O-A and A-O-N will come under PERT, which is a well-known method that is used to analyze various tasks when it comes to completing a project.
Why is A-O-N network considered as an alternative to A-O-A network?
Answer:
Question 6:
PERT charts are tools used to plan tasks within a project- making it easier to schedule and coordinate team members accomplishing the work.
What are the standard PERT assumptions and discuss the alternatives to PERT?
Answer:
Question 7:
Burgess & Killebrew have designed an eight-step procedure to minimize the total sum of squares of resource usage. Discuss each step-in detail.
Answer: BURGESS & KILLEBREW HEURISTIC
This is an eight step procedure designed to minimize the total sum of squares of the resource usage.
It thus looks at the whole profile and not just the peak(s).
In case of multiple resources the most important resource is considered first, followed by the next and so on.
STEP 1
List project activities in order of precedence by arranging the arrow head numbers in ascending order. When two or more activities have the same head number, list them so that the arrow tail numbers are also in ascending order. Add to this list, the duration, the early start and slack values for each activity.
Question 9:
Critical path method is an algorithm for scheduling a set of project activities.
How can we determine the critical path and what are the difficulties faced during path enumeration?
Answer: In project management, the critical path is the longest sequence of tasks that must be completed to successfully conclude a project, from start to finish. The tasks on the critical path are known as critical activities because if they’re delayed, the whole project will be delayed. By identifying the critical path, you can determine the total duration of a project, and you’ll have a clear picture of the project’s actual schedule.
To find the critical path, project managers use the
Question 10:
For managing a project different resources are required to carry out the project tasks.
Discuss the renewable and non- renewable resources used in a project.
Answer: In the PERT/CPM scheduling techniques , project activities are characterized by their estimated duration(s) and project networks are constructed by adding precedence relations between these activities. It is therefore implicitly assumed that these activities do not require resources during their execution (or alternatively, the assumption is that the resources are unlimited in availability). In practice, activities need resources during their execution that are
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
Call us at : 08263069601