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MB 0049 - PROJECT MANAGEMENT

Q1: Write 5 Phases of project management life cycle (PMLC)


Ans:-PM is a rationally planned effort to attain a specific goal. Here we
organise, coordinate & manage different tasks & resources for successful
completion of project. Project lasts for a definite period of time & then
finishes. Projects have usually different diverse elements or mini-tasks
that are completed separately & finally combined together to make
completed project.
Phases of PMLC are as below:
1. Project initiation(PI): It is 1st step in project
development cycle & simply starting up the project. A
project is initiated by defining its reason, business goals, & scope. Cause
for PI & suggested solution to be implemented must be defined. A project
team is put together to define early milestones &preliminary budget
proposal. Data in PI helps in performing an end of Phase study for getting
a GO No GO decision.
2. Project planning: Once project is defined & project team is assembled,
next phase is the in-depth Project Planning phase. It includes developing
the PMP (Project Management Plan), for guiding team throughout project
development stage. Here needed skills of development team, non-labour
resources, risks plan,detailed action items & milestones are explained.
3. Project development: On basis of inputs got in the shape of project
feasibility study, preliminary project evaluation, project proposal &
customer interviews outputs made are as specification System design /
Programme functional/ Programme design & Project plan.
4. Project implementation: Here needs are built &
programmed. Product is presented for client acceptance & full
implementation after QA. If client has accepted final product, project is
finished & closed down.
5. Project closure: Here we give(project documentation, manuals, source
code,& network layouts) final output to the customer . At last a Post
Implementation Review(PIR) is to be carried out to identify extent of

project success & document review outcomes.


Q2:Write below:
Economic feasibility of a project
Need for project planning
c) Diversity management
d) Rules for network construction
a)In conceptual stage,many project ideas are generated through interaction amongst
many wise groups & entrepreneurially inclined people having good knowledge.Here we see
potentialities of development & problems, needs &aspirations of people in the concerned
area. e.g in an Aerodrome project see problems that people will face due to noise
pollution, traffic, evacuation etc.
In the screening or 2nd stage, conduct preliminary exercise to weed out bad or unviable
ideas. So, it is understandable that all the given project ideas would not pass screening test
& only few get short listed for further seeing. Such short listed ideas will be considered
while promoting pre-FS.
3rd &4th stages can be termed as eco-FS yet extensively conducted to see fundamental
strengths of the project idea, and to explore various opportunities of the project.
b) Purpose of PP is to identify various areas of project
work &influencing factors &subsequently define boundaries of project
performance.Besides, scope of project also needs to be explicitly mentioned in the list
project objectives. Further it serves as a guide. PP is basic to all human activities &needs
common sense. It is a trap laid down to capture future. It bridges gap between where you
are to where you want to be. In a way, complexity of process aids in identifying the
implication of such a plan &if it relates to immediate future or a long term perspective.
thus involves brainstorming on many possible alternative courses of action, choosing right
one (or ones),agreeing what you can expect to achieve ,calculating human & material
resources needed ,anticipating possible problems, &getting agreement among all
concerned about clear targets time tables for the work in view.
c) c c)It is a management strategy to maintain a positive
workplace environment in firm. It is crucial for growth in todays
competitive marketplace.DM works on the principle of acceptance. DM
inspires employees to recognise that everyone is different.They must not
be afraid or be biased about these differences. Employees are encouraged
to live with fact that there are different interests, different values,&
different physical & emotional characteristics present in firm. Also, this
does not have to obstruct productiveness or produce conflict. A strong DM
program encourages development of skills & talents of the employees. It
boosts the communication among employees & in the long run, raises
productivity of the department.
d) Every activity must have a preceding & a succeeding event. An activity
is numerically represented by these pair events. e.g, In dinner project,
activity send invitations is designated as (1-2).1. Each event must have a
distinct number. Number specified to an event can be chosen in any way,

provided this condition is fulfilled.Practically, yet, events are numbered in


way that number at head of arrow is > that at its tail.

Q3 Write below:
a) steps in risk management
b) 5 risk identification techniques

Ans:-Risk Manager mitigates risk in below 5 steps as:


Step 1: He plans to define how to manage risk.
Step 2:He iIdentifies what risks may affect project & documents such
characteristics.
Step 3: He determines which of identified risks need subsequent
management in 2 ways as qualitative & quantitative risk analysis.
Step 4:He takes evidence collected to date from risk register & for each
threat & opportunity that has been identified.
Step 5: Monitor & Control, He alerts to identify risks, monitoring risks &
executing appropriate response plans.
By doing so he reduces threats & improves likelihood of gaining from
opportunities .
b) Risk Identification is done at each stage of PLC.Here, we identify &
categorise with techniques as below:
Assumption analysis: It made in planning stage of project are taken as
true, real, or certain. A closure scrutiny of these may
reveal possible risks.
Brain storming: It is tool to generate the possible risk events in quick
time. It is performed by a cross-function team
following set procedures (see chapter 8 for details).
Checklist: It is developed based on past experience. It provides a useful
guide in listing foreseeable risks.

Delphi study:It is carried out with the help of a group of experts.As they are
people who have a deep insight into system functioning, it is possible to
gather useful information in this way.
Interview: It may be held with knowledgeable people to identify
or to gain more in-depth knowledge of certain risks or to create a list of
control measures.
Q4: Write a short notes on
a)Parametric estimating tool of cost
estimating
b) Procurement process
c) Project teams responsibilities in
project execution
d) Project termination
Ans:-a)
It is a technique that makes use of a statistical relationship between
historical data and other variables (e.g., square footage in construction, lines
of code in software development, requisite labour hours) to compute CE for a
schedule activity resource. It can be highly accurate with good software,
underlying resource quantity & cost data build into the model. A cost-related
example has many planned quantity of work to be executed by historical
cost / unit to get CE.
b) Procurement Process: It starts with the identification of need as materials
etc. Delay can be due to manufacturing defects, incorrect specifications,
belated replacement,pilferage, shortage, etc .So use good post-procurement
materials management as below:
i) Request to invite bids or tenders: List need of equipment, preparing
specifications,& send request to invite bids.
ii)Shortlist suppliers: See needed number of suppliers out of the possible
ones.
iii)Invite bids.
iv)Evaluate, negotiate, & choose bid(s) by comparing price, negotiate
technical and commercial aspects including price, select the lowest
bidder(s), & get the approval of a competent person.
v)Prepare &place orders:Write purchase order having products & commercial
terms in clear words & get signature of a competent person &send order to
supplier & get his or her acknowledgement.

vi) Order fulfillment. See progress of manufacturing of equipment, its quality,


packaging, and associated documentation.
vii)Transport & ship equipments from the supplier to the project site.
viii) Receive, inspect & store equipment at site. Mark identification number.
c) PE & control is where most of the resources are
applied/expended on the project.It consumes the maximum time of PLC and
more than 80% of the resources get consumed in the process. Team ensures
that all the laid out plans, schedules, procedures, and models that were
prepared &estimated during prior work are adhered to. Unpredicted
situations and overhead costs will inevitably be taken care of by team to
minimise the impact on the project constraints. This phase comes to end as
soon as the final product or service is ready for delivery. All documents
relating to all activities & their linkages, actual consumption of time &
resources need to be maintained consistently so as to enable post project
audit to take up during project close out.
d) Project termination: It is the final phase of PLC, team assesses the
outcome of the project vis--vis performance of team &performing agency.
This is accomplished primarily through soliciting &evaluating feedback from
customers, project team members, consumers & other stakeholders. The
primary purpose of this assessment is to document best practices & lessons
learned for use on future projects. Key project metrics are also captured to
enable client firm to compare & evaluate performance measurements across
projects.
Q5Write below about quality planning(QP):a) Definition
b)Inputs
c) tools
d)Outputs
Ans:a) QP is related to the project &determine how to these standards can be
achieved. It is one of key processes of PP & must be performed on a
continuously & in parallel with the other PP. QP defines goals of project.
What is the product or deliverable likely to achieve? What does it look like?
What functions will it perform? How do we evaluate customer satisfaction?
What determines the success of a project?

Answering these will help us in identifying & defining quality goals. It will
also allow us to discuss plans needed to accomplish those goals. Here
measure risks to success, set high standards, document everything &define
methods & tests to attain, control, forecast& validate success. Include QM
tasks in PP &delegate the tasks to work groups who will report &track Qmetrics.e.g, desired management Q may need cost or schedule adjustments,
or the desired product Q may need a detailed risk analysis of an identified
problem.
Before ISO 9000 Series was developed, QP were considered as part of QA.
b)Inputs to QP
i) QP r.t overall intentions &direction of firm pertaining to Q as formally
expressed by top management.
ii) Scope statement: It has key objectives of project that are needed by
different stakeholders.

iii) Product description: It has details of technical issues and other concerns
which may influence QP .
iv) Standards&rules: We must acknowledge all the relevant standards that
may influence project.
c)
i) Benefit/cost analysis: QP must acknowledge benefit/cost tradeoffs.Benefits must cover higher productivity, lower cost and high customer
satisfaction.
ii) Benchmarking: Here, we compare actual or planned project practices to
practices of other projects to produce ideas for improvement & to find a
suitable standard to measure performance.
iii) Flowcharting: It is a diagram that depicts how different elements of
system relate to each other.
iv) Design of experiments: It is an analytical technique that sees which
variables affect the overall income the most.
d)

i)QM plans: It provides input to the overall project plan


& must deal with QC, QA,& Q-improvement for the project.
ii) Operational definitions: It particularly explains what something is,& how it
is measured by the quality control process.
iii) Checklists: These verify if a set of needed steps has been performed.
iv) Inputs to other processes: QP may discover
a need for further activity in some other area.
6Q:Write below:a) Types of project performance evaluation( PPE)
b)Benefits of Performance Measurement & Evaluation :
Ans:Below are Types of PPE
i) Process (or implementation) evaluation: It is also called formative
evaluations which are designed to improve the implementation of a program,
policy or strategy as it unfolds. Here we measure level to which a program is
effective as it was planned. It usually considers the program activities
conformance to statutory &rules needs, program design, and professional
standards or customer expectations.
ii) Outcome or summative evaluation: It sees program, policy or strategys
relevance, success /or cost-effectiveness which includes its relative
contribution to intended outcomes. It measures the level to which a program
attains its outcome-oriented objectives. It mainly focuses on outputs and
outcomes including unintended effects to evaluate program effectiveness
but may also consider program process to understand how outcomes are
produced.
iii) Impact evaluation: It is a type of above evaluation that measures net
effect of a program by evaluating program outcomes with an estimate of
what would have happened in the absence of the program. It is used when
external factors are known to influence the programs outcomes, in order to
isolate the programs contribution to achievement of its objectives.

iv) Cost-benefit and cost-effectiveness analyses:It compares a programs


outputs with costs (resources expended) in order to produce them. When
applied to existing programs, they are also regarded as a variety of program
evaluation. It measures the cost of meeting a single goal or objective & can
be used to identify the least cost alternative to meet that goal. It recognizes
all relevant costs and benefits, generally expressed in dollar terms.
b)
Benefits of Performance

Measurement & Evaluation

Policy & programme


planning &
development

Results may confirm policy &programme


direction or identify gaps that need to be
addressed.

Decision making about


funding

Finding out what works well/not so well can


be used to guide future funding
decisions/priorities.

Clarifying goals

At the outset, developing a road map clarifies


goals, explains the big picture and
ensures that everyone shares a common
focus.

Tracking progress

Enables monitoring and if required, permits


adjustments to be made along the way.

Reporting results

Promotes accountability and communicates


what works well to facilitate improvement and
ongoing development.