PM0010 – INTRODUCTION TO PROJECT MANAGEMENT

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ASSIGNMENT

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

DRIVE	SUMMER 2014
PROGRAM	MBADS (SEM 3/SEM 5) MBAFLEX/ MBA (SEM 3) PGDPMN (SEM 1)
SUBJECT CODE & NAME	PM 0010 – INTRODUCTION TO PROJECT MANAGEMENT
BK ID	B1936
CREDITS	4
MARKS	60

Q1.  Case Study: New Age Constructions

New Age is a building construction organisation based in Bangalore. The organisation, which was established in the year 2005, is relatively new in this sector. The activities of the organisation are limited to Bangalore. There are a number of well-established builders in Bangalore. Therefore, initially New Age found it difficult to obtain large projects and undertook only small building projects.

However, recently, New Age has got a lucrative contract for building a large shopping mall. The organisation finds the contract to be a stepping stone of its future success. Therefore, it is striving to deliver the project on time and within the planned budget. The organisation has hired Mr. Sinha as the project manager.

To carry out the assigned project, Mr. Sinha has emphasised on three principles of project management including the principle of project strategy, the principle of team building, and the principle of satisfaction. During the project, Mr. Sinha communicated the relevant project information to all the team members. However, he did not prioritise maintaining a thorough documentation of the entire project.

Seven months into the project, Mr. Sinha faced some major issues. He was asked by the management of the organisation to provide a complete project report on a day-to- day basis. Moreover, it was also noticed that he used some extra human resource, which affected the project’s cost management as well. Mr. Sinha did not even consider the triple constraints of the project.

Questions:

a. As a project manager of New Age, which knowledge areas and principles would you like to follow the most?

 b. Do you think considering the triple constraints would have helped Mr. Sinha? Justify your answer.

(Summarise the various knowledge areas and principles in brief you would follow as a project manager of New Age , Give your opinion if triple constraints would have helped Mr. Sinha  , Provide justification for the opinion ) 6, 1, 3

Answer:For successful project management, I, as a project manager needs to prepare a proper project plan, set targets and milestones, plan for resource requirements, procure resources, recruit a workforce, implement the plan, monitor progress and complete the project within the set time. To carry out these activities efficiently, project management.

Q2.  Describe the five phases of a generic project lifecycle.

(Describe each phase of a project lifecycle)  10 ( 2 marks for each phase)

The ability of managing projects successfully greatly depends upon the right understanding of the phases and activities that create the project life-cycle. Because any kind of project is “a temporary endeavour undertaken to create a unique product or service” (PMI 2000), it is planned, managed and delivered under a definite life-cycle, or under the process of by which the project is implemented. The life-cycle characterizes the constraint of time and defines how soon the project deliverables (product/service) will be produced.

Q3. Write short notes on:

1.      Work breakdown structure 

2.      Product line analysis

3.      Capital rationing 

4.      Challenges in Social Cost Benefit Analysis (SCBA)

(Work breakdown structure,  Product line analysis,  Capital rationing,  Challenges in Social Cost Benefit Analysis (SCBA))  10 (2.5 marks each)

Answer:Work breakdown structure

A complex project is made managable by first breaking it down into individual components in a hierarchical structure, known as the work breakdown structure, or the WBS. Such a structure defines tasks that can be completed independently of other tasks, facilitating resource allocation, assignment of responsibilities, and measurement and control of the project.

Product line analysis

Product line analysis (PLA) is early

 Q4. How would you classify the sources of financing infrastructure projects?

(State the meaning of source of finance,  Explain the external and Domestic sources of finance available in the infrastructure financing, List financing sources available for infrastructure projects in India in tabular format 2, 2, 2, 4( 2 marks for domestic sources and 2 marks for external sources) 10

Answer:A company would choose from among various sources of finance depending on theamount of capital required and the term for which it is needed. Without cash, the businesswould not be able to survive. With many possible uses of finance - wages, advertising,expansion, paying the interest on loans, etc - we should consider the various sources of finance available to businesses.

Q5.  Discuss the different types of project termination. A Discuss the types of project termination with suitable examples 10(2.5 marks each) 10

Answer: Project termination is one of the most serious decisions a project management team and its control board have to take. It causes frustration for those stakeholders who sincerely believed - and in most cases still believe – that the project could produce the results they expected, or still expect. The project manager and his or her team members, very important stakeholders of the project as well, will feel that they personally failed. They also will be scared of negative consequences for their careers; their motivation and consequently, productivity will decrease significantly.

Q6. How is a monitoring system designed?

(Explain what is done in each step of the process of designing a monitoring system) 10(2 marks each)

Answer:The Components of a Monitoring System

A monitoring system consists of several components, i.e.:

·         sample collection;

·         laboratory or field analysis;

·         data handling;

·         data analysis;

·         reporting;

·         information utilization.

The generic process used to design monitoring programmes as management informationsystems are made up of the following steps:

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