Description

SESSION	February – March 2024
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	IV
course CODE & NAME	Advanced Project Management & DOMS404
CREDITS	04

 

 

Assignment Set – 1^st

Questions

 

1. a. Explain the basic steps of project planning. Also, explain the objectives and special requirements of the project.

Ans: Project planning is a critical phase in the project management process, where the scope, objectives, resources, timeline, and deliverables of the project are defined and documented.

The basic steps of project planning typically include: 

Define Project Objectives: Clearly define the project objectives, including what needs to be achieved, why it’s important, and how success will be measured. Objectives should be specific, measurable, achievable, relevant, and time-bound (SMART).

Identify Stakeholders: Identify all stakeholders who will be impacted by the project,

 

1. Explain the significance of the request for proposal and project evaluation in the project management.

Ans:

The Request for Proposal (RFP) and project evaluation are critical components of project management, playing significant roles in initiating, planning, executing, and closing projects.

Here’s a breakdown of their significance: 

Request for Proposal (RFP):  Initiating Projects: An RFP is often used to solicit bids or proposals from potential vendors, contractors, or service providers for projects. It serves as

 

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2. a. Explain the cost-plus fixed fee contracts along with their advantages and disadvantages.

Ans: Cost-plus fixed fee contracts are a type of procurement contract commonly used in project management and contracting. In a cost-plus fixed fee contract, the contractor is reimbursed for all allowable costs incurred in the performance of the contract, and in addition, receives a predetermined fixed fee regardless of the actual costs incurred.

Here’s how cost-plus fixed fee contracts work: 

Cost Reimbursement: Under a cost-plus fixed fee contract, the contractor is reimbursed for all allowable costs incurred in the performance of the contract. Allowable costs typically

 

1. Explain the role of project organization structure in project management. Also, explain the types of matrix structure.

Ans: The project organization structure plays a crucial role in project management as it defines the relationships, roles, responsibilities, and communication channels within a project team. The structure of the project organization influences how the project is managed, executed, and controlled. It determines how resources are allocated, decisions are made, and

 

3. a. How can we estimate the duration of activities? Explain. List various factors that affect the project activities.

Ans: Estimating the duration of activities is a critical aspect of project planning, as it helps project managers develop realistic schedules, allocate resources effectively, and manage project timelines.

There are several methods and techniques for estimating activity durations, each with its own strengths and limitations.

Here are some common approaches: 

Expert Judgment: Expert judgment involves consulting with individuals or teams who have

 

1. Explain the computerized PMIS-desired features.

Ans:A Project Management Information System (PMIS) is a software tool or platform used by project managers and teams to plan, execute, monitor, and control projects. A computerized PMIS provides a centralized repository of project-related data, documents, schedules, and communication tools, facilitating collaboration, coordination, and decision-

 

 

 

 

Assignment Set – 2^nd

Questions

 

4. a. Explain the steps of the conformance of the quality process. Also, describe why the conformance of quality is necessary in project management.

Ans: The conformance of quality process, also known as quality control, involves ensuring that project deliverables meet specified quality standards and requirements. It focuses on detecting and addressing defects, errors, or deviations from quality criteria to ensure that the final product or service meets customer expectations.

The steps of the conformance of quality process typically include: 

Establish Quality Standards: Define clear and measurable quality standards, criteria, and

 

1. Describe various types of risks in project management.

Ans:

In project management, risks are uncertainties or events that could potentially impact the project’s objectives, schedule, budget, quality, or overall success. Identifying, analyzing, and managing risks is essential for minimizing their impact and maximizing the likelihood of

 

 

5. a. Give an example to show the relationship between the theory of constraints and CCPM.

Ans: The Theory of Constraints (TOC) and Critical Chain Project Management (CCPM) are both methodologies used to optimize processes and improve project performance. While they have distinct principles and techniques, they share a common goal of identifying and

 

1. Explain the applications of concurrent engineering in the construction field.

Ans: Concurrent engineering is a systematic approach to product development that emphasizes parallelism and collaboration among different disciplines and stakeholders throughout the design and construction process. While it is commonly associated with manufacturing, concurrent engineering principles can also be applied effectively in the

 

6. a. Explain the project selection criteria based on technical competency.

Ans: Project selection criteria based on technical competency involve assessing the project’s alignment with the organization’s technical capabilities, expertise, and resources. Technical competency criteria help ensure that selected projects are well-suited to the organization’s strengths and can be executed effectively and efficiently.

Here are some key factors to consider when evaluating projects based on technical

 

1. Explain the decision analysis and utility theory with a suitable example.

Ans: Decision analysis and utility theory are analytical tools used in decision-making under uncertainty to evaluate alternatives, assess risks, and optimize outcomes based on the preferences and objectives of decision-makers. Utility theory quantifies preferences and values to help decision-makers make rational choices that maximize expected utility or