Project Management & Its Applications

To get full answers mail us at stuffstudy5@gmail.com , or

Call us at : 09816280608

EXECUTIVE MBA

(POWER MANAGEMENT)

SEMESTER IV

YEAR: 2013                                                                                                          SESSION: JULY

ASSIGNMENT – 1

FOR

Project Management & Its Applications

(MBCQ 724D)

(TO BE FILLED BY THE STUDENT)

NAME:                  _______________________

SAP NO/REGN NO:          _______________________

Section A (20 Marks)

Write short notes on any four of the following:

1.Project processes

Answer :  Project Management Processes

The key project management processes, which run though all of these phases, are:

·         Phase management.

·         Planning.

·         Control.

·         Team management.

·         Communication.

·         Procurement.

·         Integration.

2.Work Breakdown Structure (WBS)

Answer : A work breakdown structure (WBS) is a model of the work to be performed in a project organized in a hierarchical structure. The WBS is an important tool which helps you keep an overview of the project:

·         It forms the basis for organization and coordination in the project.

·         It shows the amount of work, the time required, and the costs involved in the project..

The work breakdown structure is the operative basis for the further steps in project planning, for example, cost planning, scheduling, capacity

3.Client Kick-off Meeting

Answer :

4.Project Network

Answer :

5.Sensitivity Analysis

Answer :  Some degree of uncertainty is inherent even in the most rigorous cost-benefit study. The impacts of policies or programs may be difficult to measure or predict, and the value of those impacts may be hard to monetize. Sensitivity analysis is a group of techniques that can be used to examine the degree of uncertainty in a cost-benefit analysis (CBA) and how that affects a study’s results. This document provides an overview of sensitivity analysis and describes four types: partial sensitivity analysis, best-case and worst-case scenarios, break-even analysis, and Monte Carlo analysis.

The purpose of sensitivity analysis

Section B (30 marks)

(Attempt any three)

1.Define project identification and discuss steps in project identification.

Answer : The first and one of the critical steps in the project cycle management is the identification and selection process. This is an important stage such that it can affect the whole process including that of sustainability of the project after completion and transferring to operational phase. However, this stage is overlooked in some cases particularly in the process of capturing the actual needs of the beneficiaries. Instead of demand driven approach some donors including international organizations would like to follow supply driven approach. In the actual practice projects should be identified from the perspective of the needs or demand of the

2.Do you think that feasibility study is conducted before the business plan? If yes, give reasons.

Answer : Yes , a feasibility study is conducted before the business plan because it provides different types of analysis which help in business planning .

1. Economic Analysis

I believe this is where your feasibility study should start from. What is the essence of carrying out market research or even going ahead to start a business when the economy does not favour entrepreneurship or private ventures? Analyzing the economy will help you align your planned business with the economic situation on ground. Economic feasibility should include analysis on government’s fiscal and monetary policies, import and export rate, inflation rate, tax rate, and currency exchange rate and so on.

3.Describe the important elements of a project for which individual schedules are drawn. Why preparation of engineering schedule can be taken up last of the three schedules?

Answer :

4.Explain the applicability of sensitivity analysis for developing new projects.

Answer : Sensitivity analysis is a strategy that is helpful in determining what could happen if a specific variable within a projection fails to function as originally envisioned. The idea is to identify possible deviations that could occur if one or more variables are changed or discarded, and how those changes would affect the eventual outcome. From this perspective, this type of analysis makes it possible to prepare for outcomes other than the desired goal, thus minimizing the ill effects if those variables do fail to perform or influence as anticipated.