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DRIVE

Summer 2015

PROGRAM

MBAFLEX/ MBA (SEM 3)

SUBJECT CODE & NAME

PM0011 – PROJECT PLANNING AND SCHEDULING

Q1. Write short note on: 10 (5 marks each)

Project Rating Index(PRI) Scope change control

Answer: Project Rating Index (PRI): In the previous section, you studied about the initial screening of project ideas. Proper screening of project ideas plays an important role in ensuring the selection of the right project idea by an organisation. Once an organisation completes the initial screening of project ideas, it should then focus on evaluating the desirability of the shortlisted project ideas. For this purpose, an

Q2. Budget Estimation of ABC Company Ltd.

ABC Company Ltd., established in 1985, is engaged in the manufacturing of leather accessories. Over the years, the company, which started out as a local firm, has made its mark as an international corporation. However, the company is still working as a traditional set up.

The high quality and durability of products have increased the demand of the products in the market. As the production of the organisation is being increased to meet the demand, the traditional set up is creating hurdles in the production process.

Organisation conflicts have arisen among the team members because of the unorganised hierarchical structure of the company, which is affecting the output of the organisation. Now that the management has decided to expand the business and opened up branches abroad, the company is facing two more problems. The first problem is in budgeting as the company is unfamiliar with international market conditions, strategy, and business policy while the second problem is conflicts at the time of team formation due to lack of experience of and exposure to multinational work culture, which has further affected the output of the company.

The company can estimate the budget through two methods, the bottom - up approach and the top - down approach. The bottom -up approach is generally followed by the MNCs as it is more accurate and reliable. Mr.Parag has been appointed as the country head of the company and he has also been assigned the responsibility of incorporating the advanced project set up in the organisation. Questions: 1. Which project estimation approach should be used by the company and why? 2. What type of project organisation structure should be used by the company and why?

(1. Argue the pros and cons of each project estimation approach, Recommend the project estimation approach that best suits the company, List the reasons for your decision by mentioning the data from the case) 2, 1, 2

(2. Describe the existing organisation structure

List the disadvantages of this structure, Recommend the project organisation structure that should be used by the company, Give you reasons for recommending this structure based on, the data given in the case and your knowledge on the FIVE organizational structures.) 1, 1, 1, 2

Answer:

1.

Estimates provide the basis for a business to secure work that clients wouldn't award without a sense of the costs their projects can engender. two types of estimation approaches are used in

Q3. What is the importance of operational feasibility? Explain the factors that affect operational feasibility. (Mention the importance of operational feasibility, Discuss the FOUR factors that affect operational feasibility) 2, 8

Answer: Operating Feasibility: In the previous units, you have come to understand that feasibility study of a project is very important from the point of view of an organisation as it enables an organisation to assess whether the proposed project is capable of achieving the desired goals and objectives. Operational feasibility is a part of project feasibility study, wherein an organisation analyses the extent to which a proposed project is appropriate for the existing business environment and the organisational objectives. An operational feasibility analysis helps an organisation in

Q4.Write short notes on: 10 (5 marks each)

Monte Carlo analysis Work break down structure

Answer: Monte Carlo analysis: Monte Carlo simulation is a problem-solving technique that is used to represent the probability of certain outcomes by running a number of trial runs (called simulations) and using random variables. This technique was introduced by John von Neumann, Stanislaw Ulam, and Nicholas Metropolis while they were working on the atomic bomb in the

Q5. What do you understand by cost of quality? Elaborate on various types of costs of quality associated with a project. (Write the meaning of cost of quality, Briefly explain each types of costs of quality associated with a project) 1, 9

Answer: Cost of Quality (COQ): Cost of quality indicates the sum of conformance cost and non-conformance cost. Conformance means delivering products that meet the quality requirement of the customer; whereas, non-conformance indicate the products that are rejected for not complying with the quality norms of the customer. In other words, cost of quality can be referred

Q6. Explain some of ISO standards that should be considered by the project manager during project execution. List the advantages of project management software. (Discuss the FOUR ISO standards that should be considered by the project manager during project execution, List any four advantages of project management software) 8, 2

Answer: FOUR ISO standards that should be considered by the project manager during project execution: International Organisation for Standardisation, whose abbreviated form is ISO, is located in Geneva, Switzerland. ISO was founded in the year 1947, and is one of the

world’s largest developers of International Standards. It has a membership of more than 158 National Standards Institute of various countries across the world. ISO is responsible for developing standards that can be used as guidelines or benchmarks during the production or development of

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