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PROJECT
MANAGEME
NT &
CONTROL
SECTION A

Q1 Describe briefly
the aspects of a
business environment
that needs to be
monitored as well as
the dimensions along
which a firm may
appraise its strengths
and weaknesses for
identifying

investment
opportunities. Ans
Project management
is an organised
venture for managing
projects,
involvesscientific
application of modern
tools and techniues
in planning,

financing,implementi
ng, monitoring,
controlling and
coordinating uniue
activities or
taskproduce desirable
outputs in accordance
with the determined
objectives with in
theconstraints of time

and cost.!"A#A!$
%#&'$&!' () P#(*%!$
+1 (bjectives - A
project has a set of
objectives or a
mission. (nce
theobjectives are
achieved the project
is treated as
completed.+ /ife

cycle - A project has a

life cycle. $he life
cycle consists of five
stagesi.e. conception
stage, definition
stage, planning 0
organising
stage,implementation
stage and
commissioning stage.

+ 2niueness %very project is

uniue and no two
projects are similar.
'ettingup a cement
plant and construction
of a highway are two
different
projectshaving
uniue features.

+3 $eam 4ork Project is a team

work and it normally
consists of
diverseareas. $here
will be personnel
speciali5ed in their
respective areas
andco6ordination
among the diverse

areas calls for team

work.+7 !
omple8ity - A project
is a comple8 set of
activities relating to
diverseareas.+9
#isk and uncertainty #isk and uncertainty
go hand in hand with
project. Arisk6free, it

only means that the

element is not
apparently visible on
thesurface and it will
be hidden underneath.

METHOD OF
RANKING Tw
o approaches
are available

for
determii!
which pro"ect
to accept ad
which
pro"ectsto
re"ect # $i%

the method of
ra&i!'
ad $ii% the
method of
mathematical
pro!rammi!(
This sectio

disc)sses the
method of
ra&i! *
the followi!
sectio
disc)sses
themethod of

mathematical
pro!rammi!(
Q 4hat is Project
&mplementation
'chedule: "ow it is
important : 4hat
information is
reuired for
preparing the project

implementation
schedule: Ans
+ro"ect implemetatio
m)st be caref)ll, plaed'
maa!ed ad moitored
if activities are to be
s)ccessf)ll, implemeted
o sched)le ad prod)ce
the iteded o)tp)ts ad
o)tcomes( The s)bmissio
of cocise reports to
doors i lie with the
sched)les speci-ed i a!

reemets is essetial to
maitai doors. codece ad possibilities for
f)rther f)di!( The /0O is
resposible for prepari!
reports b)t all reports'
techical ad -acial'
m)st be cleared b, H12HA0
before bei! shared with
door
represetatives( $This is
ecessar, to es)re that all
iformatio' partic)larl,

-acial iformatio' is
correct accordi! to the
cotrib)tio a!
reemet(% Ol, certi-ed
-acial reports iss)ed
from H1 sho)ld be s)bmitted
to doors(
Assoonasdonorfundingbecomesavailable:

Develop a detailed pro"ect

implemetatio wor&
pla' see +ael 324(

Desi!ate a pro"ect o5cer

to maa!e the -acial
aspects of pro"ect
$icl)di! door
reporti!%(

If the etire pro"ect

proposal is ot f)ded'
review the plaed
strate!, ad ad")st the
pro"ect desi! specif,i!
the ob"ectives that ca be
met(

+repare a lo!2frame if the

ori!ial pro"ect proposal
did ot icl)de oe(

Oce the detailed wor&

pla is established'
re2chec& the b)d!et( If costs

were )der2estimated'
re6)est additioalf)ds or
ad")st activities withi b)d!
et limitatios( These
aspects are partic)larl,
importat if $as is ofte
the case% the -eld o5ce
pro"ect maa!er was ot
ivolved i the drafti!
of the pro"ect proposal that
led to the door !rat( To
avoid mis)derstadi!s
ad disallowed costs' the

pro"ect o5cer m)st

familiari7e her8himself with
the door.s re6)iremets
icl)di!# obli!atio
ad disb)rsemet
deadlies' reporti!
re6)iremets ad formats'
allowable' restricted or
disallowable items'
mar&i! re6)iremets
ad8or other speci-c
door re6)iremets
related to the !rat(For

f)rther !)idace' see 9O+ :;

(; which also icl)des a
sample proc)remet pla(
Panel 7-4 Contents of a
project !ple!entaton
"or# plan
The pro"ect
implemetatio wor&
pla sho)ld#< list all
activities ecessar, for the
completio of the pro"ect
ad specif, the time frame
withi each is to be

completed' the o)tp)ts

e=pected ad who is
resposible*< icl)de a
sta5! pla $listi! of the
sta> re6)ired d)ri! speci-c
periods ad")sted to the
f)ds available ad
allowi! time for
recr)itmet%*< icl)de a
proc)remet pla for the
p)rchase ad deliver, of
s)pplies ad e6)ipmet
icl)di! local ad

iteratioal p)rchases
$allowi! time for placi!
orders' c)stoms clearace'
etc(%*< specif, the
cotracts to be prepared'
ad whe' ad
re6)iremets for a,
traii! ad p)blic
iformatio activities*<
specif, the admiistrative
ad lo!istic s)pport re6)ired
from the co)tr, o5ce ad
a!reearra!emets for that

s)pport with the Operatios

Maa!er8AO*< icl)de
the dates b, which partic)lar
reports have to be s)bmitted
to the door(
Duringprojectimplementation
The Emer!ec, +ro!ramme
Maa!er ad pro"ect
o5cer m)st#

Establish a!reemets with

NGOs or others parters
cotrib)ti! to the
pro"ect )si! the stadard

format for a a!reemet

with a NGO i Ae=
0?( $Note that the a!
reemets have to be si!
ed i H1 b,
ADG2HA0(%

+rovide copies of the

approved pro"ect proposal
ad door a!reemet$s%
to all /HO sta> wor&i!
o the pro"ect' both
admiistrative ad
techical( $I!orace of

re6)iremets' roles ad
resposibilities is ot a
")sti-able e=plaatio for
poor pro"ect e=ec)tio(%

Es)re that all pro"ect sta>

are aware of /HO8@N
cotracti! proced)res as
well as their ow bee-ts'
etitlemets'
re6)iremets ad
resposibilities(

Es)re that s)5ciet

traied ad e=perieced

admiistrative sta> are

available to complemet
the wor& of techical ad
medical o5cers $to eable
the latter to foc)s their
attetio o their
techical resposibilities
%(

0losel, moitor pro!ress of

all activities a!aist the
wor& pla( If the pro"ect
is r)i! behid
sched)le' -d o)t whether

the door is ameable to a

o2cost2e=tesio( $No
te that most doors will
ot approve a
o2cost2e=tesio o a
;2moth pro"ect(%

e read, at all times to

ma&e pro"ect records' both
techical ad
admiistrative' available to
the /R ad to re!ioal
ad H1 emer!ec, sta>
who ma&e periodic visits to

-eld sites ad prepare

pro"ect moitori!
reports(

+repare reports for doors

as re6)ired( 0lear them with
H12HA0 before shari!
them with door
represetatives at co)tr,
level(

+repare a mid2term pro!ress

review ad report' as
re6)ired( If m)ltiple doors
have respoded to a

appeal' avoidreporti! the

same iformatio o two
di>eret pro"ects(

+repare -acial reports

as described i 9O+ :;(B
i accordace with the !
rat a!reemet
provisios( Do ot
provide reports to doors
o)tside o5cial reporti!
periods )less speci-call,
re6)ested( Do ot provide
reports to oe door to

aother eve for

iformatio p)rposes(
Financialaspects

Keep trac& of all obli!

atios ad e=pedit)res
b, detailed b)d!et lie
$ormall, )si! a simple
spreadsheet for -acial
trac&i!%(

Es)re that all

e=pedit)res coform to
approved b)d!et lie items
$otherwise the, ma, ot be

accepted b, the door%

( Re6)est the doorCs a!
reemet to revise the b)d!
et' if ecessar,' i
advace(

Keep copies of all receipts

to s)pport e=pedit)re
reports(

Review sta> cost estimates

re!)larl, ad wor& with the
RO $@D% to ma&e
ecessar,
ad")stmets( This is

importat to avoid either )

spet balaces at the
ed of the pro"ect or
over2e=pedit)res(

Ad")st pac&i!' frei!ht

ad is)race estimates
as soo as ivoices are
received(

iaise re!)larl, with

Operatios Maa!er8/0O
Fiace )it to es)re
ade6)ate levels of f)ds i
the imprest ba&acco)t
to cover e=pected
e=pedit)res(

Idetif, iss)es that ma,

ca)se a deviatio from the
approved pro"ect ad' if
ecessar,' alert the /R8+ro!
ramme Maa!er to e!

otiate a pro"ect
amedmet with the
door' i writi!' at
least ; da,s before the
pro"ect !rat completio
date(

Moitor )li6)idated obli!

atios ad es)re the
timel, li6)idatio of all
pro"ect e=pedit)res(

Q 4hat are
replacement

decisions: %8plain
three components of
the cash flow stream
of a
replacementdecision.
Ans
In replacement analysis, the
defender
is an existing asset; the
challenger
is the best available
replacement candidate.The

current market value

is the value to use in
preparing a defenders
economic analysis.
Sunk costs
past costs that cannot
bechanged by any future
investment decision should
not be considered in an
economic analysis.Two basic
approaches to analyzing
replacement problems are the
cash-flow approach
and the

opportunity-cost approach
. The cash flow approach
explicitly considers the actual
cashflow conse!uences for
each replacement alternative
as it occurs. Typically, the net
proceeds from the sale of the
defender are subtracted from
the purchase price of the
challenger. The
opportunitycost approach
views the net proceeds from
the sale of the defender as an
opportunity cost of "eeping the

defender. That is, instead of

deducting the salvage value
from the purchase cost of the
challenger, we consider the
salvage value an investment re!
uired in order to "eep the asset.
Economic service life
is the remaining useful life of
a defender #or a challenger$
that results in the minimum e!
uivalent annual cost or
maximum annual e!uivalent
revenue. %e should use the
respective economic service

lives of the defender and the

challenger when conducting a
replacement
analysis.&ltimately, in
replacement analysis, the !
uestion is not
whether

to replace the defender, but

when

to do so. The '( method

provides a marginal basis on
which to ma"e the
yearbyyear decision about
the best time to replace the
defender. 's a general decision

criterion, the )% method

provides a more direct
solution to a variety of
replacement problems with
either an infinite or a finite
planning horizon or a
technological change in a
future challenger.he role of
technological change
in asset improvement should
be weighed in ma"ing
longterm replacement
plans* If a particular item is
undergoing rapid, substantial

technological improvements, it
may be prudent to shorten or
delay replacement #to the
extent where the loss in
production does not exceed
any savings from
improvements in future
challengers$ until a desired
future model is available.

Q3.4hat is
Performance review
and control in respect
of the projects: 4hat

are advantages of
conducting it: 4hat
problems are
encountered in
performance review
and how can they be
overcome: Ans
;anaging the team is one of
the most critical aspects of
project management. $his
involves not only managing

internal staff but also

managing any customer
personnel and
subcontractors assigned to
the project team. <ey
aspects of effective people
management includedelegating responsibility
for work assignments and
witnessing the commitment
of each team member,

building co6operative
working relationships and
ensuring effective
communications among all
members of the project
team,
monitoring team morale
and taking action to correct
problem areas,
providing effective
performance review and
appraisal to motivate staff

and facilitate career

development.$he
subprocesses areSet Up Standards and
Procedures for Team
Performance
As a key element in
ensuring a uality project,
make sure that team
members have been
involved in the
development of common
standards and procedures

for anything that impacts

the general conduct of the
team.

184153213 Project Management Control

Questions Docx

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