MB0049 – PROJECT MANAGEMENT

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ASSIGNMENT

 

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

 

Q.1 Write short notes on 

Project break-even point 

Need for project planning

Project type organization 

Rules for network construction

 

Ans: Project break-even point  :

 

In economics & business, specifically cost accounting, the break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or gain, and one has “broken even.” A profit or a loss has not been made, although opportunity costs have been “paid,” and capital has received the risk-adjusted, expected return. In short, all costs that needs to be paid are paid by the firm but the profit is equal to 0.

 

 

 

 

Q.2  Describe and compare the project appraisal methods NPV and IRR with example? Which

one is better method in estimating returns on investment in a particular project?

 

Ans: Description  and comparison of NPV and IRR :

 

Net Preset Value

NPV and IRR are two methods for making capital-budget decisions, or choosing between alternate projects and investments when the goal is to increase the value of the enterprise and maximize shareholder wealth. Defining the NPV method is simple: the present value of cash inflows minus the present value of cash outflows, which arrives at a dollar amount that is the net benefit to the organization.

 

 

 

Q.3 Microsoft Project AMS 

The company AMS is a global business and IT consulting firm to the government, financial services, and communications industries. AMS applies both proprietary and partner technologies and

provides solutions through business consulting, system integration, and outsourcing. Founded in 1970, AMS is headquartered in Fairfax, Virginia, and has offices worldwide. The company has approximately 6300 employees.

 

The challenge :

 

Several years ago, AMS developed an internal

 

 

Q.3. What difficulties were encountered by AMS while dealing with information transfer problem in the company? What strategy is used by AMS for dealing with this problem? 

 

Ans : Listing of difficulties  encountered :

 

• Dispersed poject files.

 

The desktop version of Microsoft Project, which was being used as the project planning and scheduling platform, did not provide a centralized project repository that could be used to support and enhance reporting and staffing.

 

• Difficulty managing resources:

 

 

 

Q.4 Form the above case how did the solution help the managers, project teams and the

company.

 

Ans : Benefits of the solution  to managers , project team and company :

 

Overall, AMS’s Microsoft Project Server implementation went well. AMS’s managers attribute the project’s success to their staged pilot program approach. Planning a phased rollout with predefined

checkpoints and opportunities for collecting feedback was key to a smooth deployment.

 AMS’s managers also stress that companies considering similar implementations not underestimate the training and change management efforts

 

 

 

 

Q.5  What are the key steps involved in purchase cycle?

 

Ans : Definition of purchase cycle :

               

Purchasing is the “process of buying”. Many assume purchasing is solely the responsibility of the purchasing department. Successful purchasing organizations follow a purchasing cycle or process to ensure that the important elements are not overlooked. Each material or service being procured will require a different level of activity and priority. The experienced purchaser will ensure that each of the ten steps is fully performed and executed.

 

 

 

 

Q.6 Discuss the concept of quality and project quality management.

 

Ans : Concept of quality :

 

The concept of quality as we think of it now first emerged from the Industrial Revolution. Previously goods had been made from start to finish by the same person or team of people, with handcrafting and tweaking the product to meet ‘quality criteria’. Mass production brought huge teams of people together to work on specific stages of production where one person would not necessarily complete a product from start to finish. In the late 19th century

 

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