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EXECUTIVE MBA
(POWER MANAGEMENT)
SEMESTER IV
YEAR: 2013
SESSION: JULY
ASSIGNMENT – 2
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 Management
System
Answer : Project Management Systems
Project management systems are
software tools that assist in the organization and moderation of a project
throughout its life cycle. Most project management systems provide project
managers with these basic enhancements:
·
Project
visibility: shows the project as a whole, allowing one to accurately
predict the results of project constraints (scope, time, costs, etc.)
·
Resource
visibility: shows the resources available in a project, allowing one to
properly distribute and prioritize work
2. Performance Analysis
Answer : Performance Analysis is the provision of objective feedback to
performers trying to get a positive change in performance. Essentially it is
about telling the athlete what actually happened as opposed to what they
perceived to be happening. Research shows that on average, athletes and coaches
can only recall 30% of performance correctly - performance analysis helps with
the remaining 70%.
The analysis can either take
place
3. Optimum Project
Schedule
Answer : These are some of the
basic rules that we find to help people avoid long term problems when trying to
manage a schedule in any WBS (Work Breakdown Structure) based scheduling
software. These basic practices are often ignored when working in applications
like Microsoft Project, but they can become problematic when you attempt to
manage a schedule in a highly visible online environment.
1. Don't set deadlines while
scheduling. We all have deadlines, but setting them in the schedule before
having all of the work defined only makes the process more difficult. Without
properly defining the work breakdown structure,
4. Project Workflow
Sector
5. Vendor evaluation
Answer : It makes no difference
what business you are in, suppliers and vendors play a key role in your
company's success. Having a formalized system in place to track and evaluate
supplier and vendor performance is essential to the smooth operation and profitability
of your company. Successful companies embrace their suppliers and vendors,
viewing them as partners in helping to grow the business.
1. Establish Performance Indicators
At the onset of the vendor
relationship
(Attempt any three)
1. What are the major
software’s available for project monitoring and control?
Answer : Throughout the executing
process, there is also another project management process group of stages that
is happening. Monitoring and controlling often happens concurrently with
executing, but this particular group offers its own separate list of tasks.
Often what is associated with monitoring and controlling is checking to make
sure that the work output from the executing processes match what the end
objectives of the project are. It also involves making adjustments as needed.
The monitoring and controlling phase can be made easier by the use project
management software. Monitoring progress against the values entered into
the computer program during the initiating, planning, and executing stages, one
can get a clearer picture of what is happening with the project. But it is not
enough to merely monitor the project; the project manager must also control the
project, nudging it back on track when it
2. Describe various
types of “Bell” and “S” curves and their significance. How can these curves be
used for project progress monitoring?
Answer : What Is a Bell Curve?
To be technical, the kinds of
bell curves that we care about the most in statistics are actually called
normal probability distributions. For what follows we’ll just assume the bell
curves we’re talking about are normal probability distributions. Despite the
name “bell curve,” these curves are not defined by their shape. Instead an
intimidating looking formula is used as the formal definition for bell curves.
But we really don’t need to worry
too much about the formula. The only two numbers that we care about in it are
the mean and standard deviation. The bell curve for a given set of data has
center located at the mean. This is where the highest point
3. What factors must be
considered to have an effective procurement planning?
Answer : Sustainable procurement
(SP) is about taking social and environmental factors into consideration
alongside financial factors in making procurement decisions. It involves
looking beyond the traditional economic parameters and making decisions based
on the whole life cost, the associated risks, measures of success and
implications for society and the environment. Making decisions in this way
requires setting procurement into the broader strategic context including value
for money, performance management, corporate and community priorities.
Sustainable procurement is the process by which organizations buy
assets, supplies or services by taking into account a number of factors
including:
·
Value for money considerations such as, price,
quality, availability, functionality.
·
The entire life cycle of products.
·
Environmental aspects; the
4. Explain the impacts
of overtime, workforce size, and work intensity on rework.
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