PM0011 -PROJECT PLANNING AND SCHEDULING

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Assignment

DRIVE	SPRING 2015
PROGRAM	MBADS (SEM 3/SEM 5) MBAFLEX/ MBA (SEM 3) PGDPMN (SEM 1)
SUBJECT CODE & NAME	PM0011 – PROJECT PLANNING AND SCHEDULING
BK ID	B1937
CREDIT & MARKS	4 CREDITS & 60 MARKS

Q1. Write short notes on:

a)      Hierarchy of organisational objectives

Answer : The hierarchy of objectives is a tool that helps analyze and communicate the project objectives. It organizes these objectives into different levels of a hierarchy or tree. Different organizations use different names for the

b) Porter model - a tool for identifying investment opportunities

Answer : Michael Porter’s five forces model is based on the insight that a corporate strategy should meet the opportunities and threats in the organizations external environment. Especially, competitive strategy should based on an understanding of industry structures and the way they change.

c) Design phase of project management life cycle

Answer : Once the project has been approved, a deadline has been set, and the scope has been agreed upon, then the project planning phase of the project management life cycle begins. The project planning phase consists of the following steps:

d) Scope change

Answer : Scope Change is an official decision made by the project manager and the client to change a feature X to expand or reduce it's functionality. Generally, scope change involves making adjustments to the cost, budget, other features, or the timeline.

A scope change request is used to request an addition or subtraction to the agreed upon scope of work agreed upon for a project. Scope change requests may be managed as part of a pre-defined scope change process outlined as part of the Project

2 Budget Estimation of ABC Company Ltd.

ABC Company Ltd., established in 1985, is engaged in the manufacturing of leather accessories. Over the years, the company, which started out as a local firm,has made its mark as an international corporation. However, the company is still working as a traditional set up.

The high quality and durability of products have increased the demand of the products in the market. As the production of the organisation is being increased to meet the demand, the traditional set up is creating hurdles in the production process.

Organisation conflicts have arisen among the team members because of the unorganised hierarchical structure of the company, which is affecting the output of the organisation. Now that the management has decided to expand the business and opened up branches abroad, the company is facing two more problems. The first problem is in budgeting as the company is unfamiliar with international market conditions, strategy, and business policy while the second problem is conflicts at the time of team formation due to lack of experience of and exposure to multinational work

culture, which has further affected the output of the company.

The company can estimate the budget through two methods, the bottom - up approach

and the top - down approach. The bottom -up approach is generally followed by the MNCs as it is more accurate and reliable.

Mr.Parag has been appointed as the country head of the company and he has also been assigned the responsibility of incorporating the advanced project set up in the organisation.

Questions:

 Which project estimation approach should be used by the company and why?

Bottom-up estimating (also called detail or resource-driven estimating)

The estimator breaks a project into distinct line items, and then breaks those line items into smaller, distinct line items, and so on, until he or she arrives at

Top-down estimating (also called parametric estimating)

2. What type of project organisation structure should be used by the company and why?

·         Flat Organizational Structure: Many small companies use a flat organizational structure, where very few levels of management separate executives from analysts, secretaries and lower-level employees. Flat organizations

3 What is the importance of operational feasibility? Explain the factors that affect operational feasibility.

Answer: Operational feasibility is as important as technical feasibility (or any other kind of feasibility for that matter), and yet it can be the first thing to get brushed under the carpet. The conversation changes and that ‘intelligent system’ everyone was discussing is transformed back into a mere ‘thing’: a deliverable to drop into the organisation. We’ll

4 Write short notes on

a)      Crashing

Answer: Crashing Definition

B) Precedence diagramming method

Answer: The precedence diagram method (PDM) is a tool for scheduling activities in a project plan. It is a method of constructing a project schedule network diagram that uses boxes, referred to as nodes, to represent activities and connects them with arrows that show the dependencies. It is also called the activity

b)      Resource allocation

Answer: The resources of an organization consist of people, materials, equipment, knowledge and time. Organizations typically have limited resources; therefore, tradeoffs on what project resources

c)       Scope creep

Answer: Scope creep – also known as feature creep, focus creep, creeping functionality and kitchen-sink syndrome – can sneak up, morph and destroy a project.

Project Scope Defined

·          

·         .

5 What do you understand by cost of quality? Elaborate on various types of costs of quality associated with a project.

Answer: The term “quality costs” has different meanings to different people. Some equate “quality costs” with the costs of poor quality due to finding and correcting defective work. Others equate the term with the costs to attain good quality. Others use the term to mean the costs of running the quality department. In my site, the term "quality costs" means the cost of poor quality.

6 Explain some of ISO standards that should be considered by the project manager during project execution. List the advantages of project management software.

Answer:  Management system standards: ISO management system standards provide a model to follow when setting up and operating a management system. Like all our standards, they are the result of international, expert consensus and therefore offer the benefit of global management experience and good practice. These standards can be applied to any organisation, large or small, whatever the product or service and regardless of the sector of

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Send your semester & Specialization name to our mail id :

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