Description

SESSION
JUL – AUG 2024
PROGRAM MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER III
COURSE CODE & NAME DPRM301 INTRODUCTION TO PROJECT
MANAGEMENT

Assignment Set – 1

Question 1: Define the concept of a project and discuss its key characteristics. How does
the project cycle influence the project process from initiation to closure? Provide
examples to illustrate your points.
Ans 1.
Understanding the Concept of a Project
A project is a temporary effort undertaken to produce a unique result, whether it’s a product,
service, or outcome. Unlike routine tasks, a project is defined by its specific objectives and is
executed over a set duration with finite resources. For example, constructing a residential
building or launching a mobile application are projects because they aim to achieve a specific
goal within a limited timeframe.
Key Characteristics of a Project
Projects possess distinct features that differentiate them from standard operations. Firstly, they
Its Half solved only
Buy Complete assignment from us
Price – 190/ assignment
MUJ Manipal University Complete
SolvedAssignments session JULY-AUG 2024
buy cheap assignment help online from us easily
we are here to help you with the best and cheap help
Contact No – 8791514139 (WhatsApp)
OR
Mail us- [email protected]
Our website – www.assignmentsupport.in
Question 2: Describe the phases of the project management life cycle, including initiation,
planning, execution, and closure. Utilize Rita’s Process Chart to illustrate how these
phases interconnect and support successful project outcomes.
Ans 2.
Introduction to the Project Management Life Cycle
The project management life cycle serves as a roadmap for managing projects systematically.
It comprises four main phases: initiation, planning, execution, and closure. Each phase plays a
distinct role in ensuring project goals are achieved efficiently.
Initiation Phase This is the starting point of any project, focusing on defining its purpose,
feasibility, and stakeholder expectations. A project charter is typically developed during this
phase, outlining high-level objectives and constraints. For example, before developing a mobile
Question 3: Explain the importance of market analysis in project management. Discuss
the qualitative and quantitative approaches to demand forecasting, including the factors
that influence market information collection.
Ans 3.
The Role of Market Analysis in Project Management
Market analysis is a critical component of project management, providing insights into the
viability, risks, and opportunities associated with a project. By understanding market
conditions, project managers can make informed decisions regarding resource allocation,
timelines, and strategies to meet customer needs. For example, launching a new product in a
competitive market requires a thorough understanding of customer preferences, competitor
Assignment Set – 2
Question 4: Discuss the meaning and importance of project selection in the context of
capital budgeting. Explain various capital budgeting techniques such as ARR, PBP, NPV,
IRR, and PI methods. How do these techniques aid in making informed project selection
decisions?
Understanding Project Selection in Capital Budgeting
Project selection is the process of evaluating and choosing the most suitable projects to invest
in, considering the organization’s financial, strategic, and operational goals. In capital
budgeting, this decision-making process focuses on allocating resources to long-term
investments, such as infrastructure projects, new product development, or technology
upgrades. The primary objective of project selection is to ensure that chosen projects generate
Question 5: Explain the concept of Social Cost-Benefit Analysis (SCBA) and its
applications in project management. Discuss the challenges faced during SCBA
implementation and compare different approaches such as UNIDO and the SCBA
approach used by Indian financial institutions.
Ans 5.
Understanding Social Cost-Benefit Analysis (SCBA)
Social Cost-Benefit Analysis (SCBA) is an economic evaluation tool used to assess the broader
impact of projects on society. Unlike traditional financial analysis, SCBA considers both
tangible and intangible costs and benefits, including social, environmental, and economic
factors. The primary objective is to determine whether a project creates a net positive impact
on society as a whole.
For example, when evaluating a public transportation project, SCBA accounts for financial
costs and revenues, as well as benefits like reduced traffic congestion, improved air quality,
Question 6: Explain the concept of procurement management in project management.
Discuss the key steps involved in procurement planning, contract administration, and
contract closeout. How do these steps contribute to successful project outcomes?
Ans 6.
Understanding Procurement Management
Procurement management is a critical aspect of project management, focusing on acquiring
goods, services, and resources needed to complete a project. It involves identifying needs,
sourcing vendors, negotiating contracts, and ensuring timely delivery of requirements.
Effective procurement management ensures that a project runs smoothly, within budget, and
meets quality standards.
For example, in a construction project, procurement management involves purchasing