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Master of Business Administration- MBA Semester 2
MB0049-Project Management-4 Credits
(Book ID: B1632)
Assignment (60 Marks)
Note: Answer all questions within 300 to 400 words each. Each Question
carries 10 marks 6 X 10=60
Q1. Explain the various phases of the project management life cycle.
Answer. List and describe the various phases of the project management life cycle:The Five Steps in the PM Life Cycle
No matter what project it is that youre preparing for, the project management life
cycle can assist you and your team in narrowing the project's focus, keeping it's
objectives in order and finishing the project on time, on budget and with a minimum
of headaches.
Every project management life cycle contains five steps: Initiation, Planning,
Execution, Monitoring/Control and Closure. No one step is more important than the
other and each step plays a crucial role in getting your
Q2. Write short notes on:
1.
2.
3.
4.

Economic feasibility of a project

Need for project planning
Diversity management
Rules for network construction

Answer. 1. Economic feasibility

A feasibility study may also include an economic analysis of the project. The
purpose of economic analysis is to determine whether there is an economic case for
the investment decision. This assessment goes beyond the items typically included
in a financial analysis. Economic feasibility is interested in:
1. the economic benefits from the project
2. the economic costs of the project

3. the balance of these expressed in present value terms (the net economic
benefit)
Economic costs and benefits are not always the same as financial cost and benefits.
Economic analysis includes project impacts that do not have a market price and
positive and negative impacts that are experienced by people who are not the direct
users of the services. It is in this way that economic analysis casts a broader

Q3. What are the key steps for effective risk management? Explain any
FIVE risk identification techniques.
Answer. Step 1: Identify the Risk. You and your team uncover, recognize and
describe risks that might affect your project or its outcomes. There are a number of
techniques you can use to find project risks. During this step you start to prepare
your Project Risk Register.
Step 2: Analyze the risk. Once risks are identified you determine the likelihood
and consequence of each risk. You develop an understanding of the nature of the
risk and its potential to affect project goals and objectives. This information is also
input to your Project Risk Register.

Q4. Write short notes on

1.
2.
3.
4.

Parametric estimating tool of cost estimating

Procurement process
Project teams responsibilities in project execution
Project termination

Answer. 1. 4 Tools to Estimate Costs in the Project Management:

In the Estimate Costs process, the cost of each project activity is estimated. An
interesting thing about this process is that it also uses the same three tools used in
the Estimate Activity Duration process. In the estimate activity duration process,
you were determining the time taken by each activity and now, in estimating costs
process, you have to calculate the total cost of the project.
In this process, the cost of each activity is determined, which includes the cost of
human hours, the cost of equipment, and the
Q5. What is Quality planning? Explain the inputs, tools and techniques and
outcomes of quality planning.
Answer: Quality planning is the creation of an actionable plan that defines and
ensures quality from concept to delivery. During the planning process, steps to
measure and maintain quality are inserted at every level, from setting objectives to
establishing policies and procedures. In this situation, a company would either
establish a quality planning team that makes revisions to an original plan, imbeds
quality planning procedures in their regular planning process or replace the planning
process entirely. Here is an overview of the quality

Q6. Describe the various types of project performance evaluation

techniques. List any FOUR benefits of performance measurement and
evaluation.
Answer. 4 types of project performance evaluation techniques:
1. Ecological Assessment
Completing an ecological assessment of a wetland prior to its disturbance is a
critical first step to achieving a successful mitigation project. Wetland mitigation
must be based on an understanding and quantification of the ecological functions
that exist prior to disturbance (Richardson, 1994). Ecological assessment is defined
here as an assessment of the entire wetland system and includes evaluation of both
the biotic and

Winter-2015
Get solved assignments at nominal price of
Rs.125 each.
Mail us at: subjects4u@gmail.com or contact at
09882243490