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Project Management
September 2023 Examination
1. Consider a business of a pharma / software / media company, anyone. In this context, explain different Project Life Cycle (PLC) Models and give an example of project for each model. Considering the business you selected, comment which model will pose the most difficult challenge in terms of managing the project.
Ans:
Introduction:
In a modern dynamic commercial enterprise environment, robust mission control is critical for the fulfillment of any employer. A properly-defined project lifestyles cycle (p.c) model provides a framework to guide the development of a challenge from initiation to closure. Particular industries may hire diverse % fashions primarily based on their unique necessities.
Concept & Application:
In this context, let us explore the pharma, software, and media industries and examine the % fashions usually used. Moreover, we will
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2. A XYZ company is launching the new project consist of designing and constructing an Airport and other Infrastructure around it. Consider following details for the project.
• Feasibility study
• Estimating the cost – Material and Construction
• Designing of Airport and other Infrastructure around it.
• Procuring the material
• Construction and installation
• Finishing work
Explain three types of project organization structures and evaluate their applicability for this case. Assume details where required. Suggest the best suitable structure for the given project.
Ans:
Introduction:
Project company shape plays a critical role in the successful execution of a challenge by defining roles, responsibilities, and communique channels inside a project crew. It serves because of the framework publications the coordination, choice-making, and duty techniques throughout the mission lifecycle. The choice of venture organization structure depends on the nature and complexity of the assignment, as well as the unique dreams and requirements of the task. While designing and constructing an airport and its surrounding infrastructure, it is critical to cautiously evaluate exceptional undertaking enterprise structures to determine the
3. Answer the following questions.
a. The project in a pharmacy company was planned to be completed in 12 months. After the eight month a review as called. It was found that Rs. 120000 was spent on the project for 48% of project completion. The total project budget was Rs 240000. Calculate and explain the schedule and cost performance index for this situation.
Ans :
We must understand the formulas and concepts behind these indices to calculate the schedule performance index (SPI) and cost performance index (CPI) for the given situation.
1. Schedule Performance Index (SPI):
The SPI measures the efficiency of the project in terms of schedule. It indicates how well the project is progressing compared to the planned program.
The formula for SPI is:
SPI = Earned Value (EV) / Planned Value (PV)
b. A XYZ company is launching the new project consist of designing and constructing an Airport and other Infrastructure around. Consider following details for the project.
a. Feasibility study
b. Estimating the cost – Material and Construction
c. Designing of Airport and other Infrastructure around.
d. Procuring the material
e. Construction and installation
f. Finishing work
List different cost estimation methods. Explain any three methods which can be used in this project. Suggest which one will be the best method for this project.
Ans:
Introduction:
The XYZ Company is embarking on a new undertaking to design and construct an airport and different infrastructure surrounding it. This venture involves several essential tiers: feasibility observation, fee estimation, layout, fabric procurement, creation, installation, and finishing work. To successfully manage the project and make sure its fulfillment, correct cost estimation is of extreme significance. This segment will explore exclusive value estimation