Q1. Describe the CPM model. Briefly explain Ans.

Network analysis technique used in complex project plans with a large number of activities. CPM diagrams (1) all activities, (2) time required for their completion, (3) and how each activity is related to the previous and next activity. A sequence of activities is called a 'path,' and the longest-path in the diagram is the critical path. It is 'critical' because all activities on it must be completed in the designated time, otherwise the whole project will be delayed. Also called critical path analysis or critical path methodology. PERT/Cost Systems- The traditional cost variance analysis alone is insufficient for evaluating performance; information also is needed on work progress. Early attempts to correct for this using PERT/CPM went to the opposite extreme by ignoring costs and focusing entirely on work progress. If PERT/CPM users wanted to integrate cost control with network planning methods they had to develop their own system. In 1962 the U.S government developed a PERT-based system which combined cost-accounting with scheduling, called PERT/Cost system. The system became mandatory for all military and R&D contracts with the Department of Defense and National Aeronautics and space administration. PERT/Cost was a major improvement over traditional cost-accounting techniques because it blended cost with work schedules Steps to construct a PERT chart for a project1. Identify all tasks or project components. Have a brainstorming session to capture all tasks needed to complete the project. Document the tasks on small note cards. 2. Identify the first task that must be completed. Keep the appropriate card at the extreme left of the working surface. 3. Identify any other tasks that can be started simultaneously with the first task. Line up these tasks either above or below the first task on the working surface. 4. Identify the next task that must be completed. Select a task that must wait until one of the tasks identified in steps 2 and 3 is completed. Place the appropriate card to the right of the card showing the preceding task. 5. Identify any other tasks that can be started simultaneously with the task identified in step 4. Place these tasks either above or below the said task on the working surface. 6. Continue this process until all component tasks are sequenced.

Q2. Define risk management. What are the different types of risks that can affect a project? Ans. Risk management is all about the systematic process of identifying, analyzing, prioritizing and responding to risk by applying risk management principles and controlling the probability and/or impact of unfortunate events at the project level. It attempts to maximize the probability and consequences of positive events and to minimize the probability and consequences of adverse events. The goal is to prevent or reduce risk in a cost-effective manner without compromising quality or harming the mission or timeline. The benefits of proper risk management in projects are huge. Organizations can generate a lot of profit if they deal with uncertain project events in a proactive manner. The result will be that they minimize the impact of project threats and seize the opportunities that exists. Proper risk management enables you to deliver the project on time, on budget and with the quality results ones project sponsor/client demands. In addition to this, other project team members can be also happy and motivated enough to perform better and better. All this would essentially boil down to increase in the productivity of team members and in the efficiency and effectiveness of the resources. A lack of risk management is what leads to the high failure rates of projects. a) Project Risks: This is the risk pertaining to pure project related parameters and activities. They may arise from changes in the scope of the project, in the work quantities, and in the resource requirements. Risk may also originate from estimation error or unexpected developments in a project. project success depends on three major parameters including Cost, Resources and Timelines. b) Market Risk: This is the risk which is external to project but related to it. It is the risk arising out of a change in any of the following market parameters price change, changes in market regulations, economic changes, competition, and competitors product changes. c) Industry Risk: This is an industry specific risk. It is the risk arising out of a change in scientific instruments used in a business activity or changes in company policies because of changes in the industry. d) Social and Political Risk: These are the risks pertaining to society at large. Although the probability is very low but it may have a big impact on the project. These risks may arise out of changes in labour situation, labor laws, environmental laws, and so on.

Q3 briefly discuss the steps to close the project?

Ans. Project closure is conclusion and finishing of a project, including settlement of all disputable matters. As a rule, project closing includes the following group of steps: finishing works on product creation; delivering project results to customer; breaking up project team; analyzing project experience and documenting.

Step 1. Finishing works on product creation- During project closure it is necessary to be convinced that all works are accomplished. For this purpose the project management plans measures of control aimed to carry out analysis of works, to compose a list of outstanding tasks, to draw up detailed planning of their fulfillment and to organize daily operative meetings. Sometimes project managers create separate expert group, which primary goal is to reveal remained works and complete these works. Upon finishing the project it is necessary to be convinced that: All contracts, certificates are signed, executed and closed, accounts are made, All works under the project quality are finished, checked and accepted; Every member of project team is formally free from performance of the assigned responsibilities . Step 2. Delivering project results to customer- The process of delivering a product to the customer includes not only actual and documentary transferring of project result to the customer but also training of users of the given product. At this step the rights to the created product and full responsibility (except for cases of guarantee certificates) are delivered to the customer. Besides, documentation needed for further operation of the created product (executive drawings, other engineering specifications) is transferred to the customer. Step 3. Breaking up project team- Any project is limited in time, therefore sooner or later the manager will have to break up the project team. The team disbandment can be made as gradually by processing separate stages as simultaneously upon termination of the project as a whole. In this context we can speak about not only the project life cycle but also the team life cycle. Each stage of the team life cycle is characterized by certain signs peculiar to any project team. One of key problems the project management confronts with is maintenance of high overall performance of the project team. Step 4. Analyzing project experience and documenting- Despite a project succeeding or failure, it allows the project team to receive unique experience. Therefore the analysis of achievements and errors, revealing of new administrative methods become important problems of the final step of project life cycle. The choice of a method for carrying out the analysis depends on project size. Usually for small projects it is enough to organize final accounting meeting on which the post-project estimation is given. Another successful method of analysis lies in conducting interviews with representatives of the customer. Q4. Discuss the various steps of PMIS planning. Ans. The success of a PMIS depends on its effective planning. The PMIS is used for many purposes by a project manager like budget estimation of costs, creating a schedule, define the scope, etc. Hence, these should be considered while planning for PMIS. The planning of PMIS includes the following steps: 1. Identify the information needed 2. Capture data 3. Process data into information and store it 4. Communicate information to stakeholders.

Identify the information needed- Identification of the information that is needed is necessary for improving the decision making and the structure of the PMIS. information requirements of project stakeholders include the recipients of information, the type of information that is needed, which includes format, contents, and level of details, the time the information is required and how (by what media) will it be communicated to them. Capture data Term Capture data" is used to state a process of preparing and collecting data i.e.,as element of a process improvement or similar project. The function of data collection is to attain information to maintain record, to make decisions for vital issues, and to pass information on to others. Data can come from actual observation or from records. Data collected from records is known as secondary data. Data collected from direct observation is known as primary data. It should been sured that all relevant groups are represented in the data. A formal data collection process is essential as it makes certain that the gathered data are both defined and precise and that subsequent decisions based on opinion embodied in the findings are valid. Data possibly be arranged in tabular form, data array or frequency distribution. Process data into information An organisation, to achieve its aims, needs to process the data collected into meaningful information. it should be presented in its most useful formats. Data must be processed in a context to give it meaning. Data is transformed into information using mathematical, statistical, or other tools including computer software. Information can be stored in electronic form or hard copies represented in the most useful form. Communicate information to stakeholders Communication is the process by which information is exchanged between individuals through a common system of symbols, signs, or behavior. Q5. What are the important approaches to project control? Ans. Any project aimed at delivering a product or a service has to go through phases in a planned manner in order to meet the requirements. It is very important to measure the performance of the current status of the project at any time against its planned version. This helps to tackle any unexpected deviation in time, efforts and cost. The project manager and the team members should be fully aware of the techniques and methods to rectify the factors influencing delay of the project and its product. It is important for all stakeholders to know the impact of the changes in any parameters to the overall project. The various steps involved in monitoring and controlling a project arePreliminary work- The team members understand the project plans, project stage schedule, progress controls, tracking schedules, summary of the stage cost and related worksheets. All the members have to understand the tolerances in any change and maintain a change control log. They must realize the need and importance of quality for which they have to strictly follow a quality review schedule and frequently discuss the quality agendas. They must understand the stage status reports, stage end reports, stage end approval reports. Project Progress- The members must keep a track of the project progress and communicate the same to other related members of the project. They must monitor and control project progress, through the use of regular check points, quality charts, and statistical tables; control

the quality factors which are likely to deviate from expected values as any deviation may result in changes to the stage schedule. The project manager ensures that these changes are made smoothly and organizes review meeting with the project management group. Thus all the members are aware about the progress of the project at all times. This helps them to plan well in advance for any exigency arising due to deviation from planned schedule. Stage Control- The manager must establish a project check point cycle. For this, a suitable stage version control procedures may be followed. The details are to be documented stage wise. Project files have to be timely updated with appropriate version control number and revision status should be maintained for each change. Team members are identified who will exercise controls at various points of the project. Resources- Plan the resources required for various stage of the project well in advance. Communication is the key. Brief both the project team and the key resources about the objectives of every stage, planned activities, products, organisation, metrics and the project controls. This increases the visibility into the project performance and hence a quality control can be achieved. Allocating a right resource at the right place and the right time will significantly enhance the efficiency and effectiveness of the resource. Quality Control- This is very important in any project. It is a tool which helps in tracking the progress of various parameters at any stage of the project. A project manager may use a standard quality control or customize according to the requirements. Quality control is possible if the project members follow the quality charts and norms very strictly. It is also important for all the project team members to know the importance of such quality checks and should have a good visibility into project performance. Schedule Quality Review- Conduct quality reviews at regular intervals. It is recommended that quality review be scheduled at the beginning of the stage and also at the ending of every stage. This helps the project manager and team members to plan well in advance for any unforeseen deviation. Agenda for Quality Review- Create and distribute a quality review agenda specifying the objective, products, logistics, roles, responsibilities and time frame. This increases the effectiveness of the review and also reduces the time gap. Conduct Quality Review-Conduct the quality review in a structured and formal manner. Quality review should focus on product development and its quality factors. Focus on whether it meets the prescribed quality standard. Follow Up-Revise the complete quality review product status from In-progress to QR Complete. Follow up the actions planned in strict manner which ensures conformity to the standards. Review Quality Control Procedure- Verify that the quality objectives for each product are appropriate and that all participants are satisfied both with the process and its outcome. This is to ensure that all the stakeholders of the project are in conformity of control procedures.

Q6. Describe the project planning process and explain it in detail. Ans. Project planning is the heart of the project life cycle, and tells everyone involved where youre going and how youre going to get there. The planning phase is where the project plans are documented, the project deliverables and requirements defined, and the project schedule created. The project planning phase is often the most challenging phase for a project manager, as you need to make an educated guess of the staff, resources and equipment needed to complete your project. It involves creating a set of plans to help guide your team through the execution and closure phases of the project. The plans created during this phase will help you to manage time, cost, quality, change, risk and related issues. It will also help you manage staff and external suppliers, to ensure that you deliver the project on time and within schedule. The planning phase refines the projects objectives gathered during the initiation phase and plans the steps necessary to meet those objectives by further identifying the specific activities and resources required to complete the project. The process of planning includes the determination of objectives and outlining the future actions that are needed to achieve these objectives. Various steps that are followed in the process of planning are: (i) Identifying the problem: It involves the identification of the aim for the fulfillment of which the plan is being formulated. If a new plan is require or the modification of an existing plan could help in achieving these aims. (ii) Gathering information about the activities involve: An effective plan needs complete knowledge of the activities involved and their effect on other external and internal activities. (iii) Analysis of information: This information is then analysed minutely and the information related with similar subjects is classified so that similar type of data can be kept together. (iv) Determining alternate plans: There are alternate plans available for the achievement of the objectives and ingenuity and creativeness are required as some plans are also developed at this stage. (v) Selecting the plan: At this stage the plan which is acceptable to the operating personnel is proposed. The adaptability and the cost of the plan are also taken into consideration. (vi) Detailed sequence and timing: Detailed like who will perform which activity under the plan and the time within which the plan should be carried out is determining in this step. (vii) Progress check of the plan: The provisions are made for the follow up of the plan as the success of any plan can be measured by the results only.