Project Managment (PM) solved Assignments Summer 2015

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PM 0018 –CONTRACTS MANAGEMENT IN PROJECTS

BK ID - B2014

CREDIT AND MARKS - 4 CREDITS AND 60 MARKS

Q1. Explain the essential elements of a project contract. (Discuss the TEN essential elements of a project contract) 10

Answer: Essential elements of project contract: We have studied that a contract is an agreement enforceable by law. To be enforceable by law, an agreement must possess the essential elements of valid contract. These elements of a valid contract are discussed as follows:

Proposal (offer) and

Q2. Explain the steps involved in the contract closure process. (Explain the EIGHT steps involved in the contract closure process) 10

Answer: Contract Closure: Contract closure refers to a process of accomplishing all the tasks as per the terms and conditions mentioned in the contract. The steps involved in the contract closure process are given below:

1.      Collecting contract documentation: In order to close a contract successfully, it is important to collect all the relevant documents for review. This may include collecting all the documents regarding the

Q3. What is an outsourcing contract? What is its key content? (Explain what is an outsourcing contract, Describe its key contents) 2, 8

Answer: Outsourcing Contracts: Outsourcing a contract implies a process in which one party contracts work to another party. First, the outsourcer accepts the tasks given by the organisation. Then, the contract is and involves key contents such as scope, conditions, deliverables, etc. Organisations often face the dilemma of whether to buy resources/services from outside or create them within

Q4. Discuss the process of procurement. (List the SIX steps of the procurement process, Explain the SIX steps of the procurement process) 1, 9

Answer: Process of Procurement: The procurement process includes the activities of procuring goods or services, paying the bills, and closing the procurement contracts. The steps involved in the procurement

Q5. What is contract management? Describe its important features. (Define contract management, List and briefly explain the important features of a good management contract) 1, 9

Answer: Contract Management: Contract management refers to the management of contracts by negotiating the terms and conditions of the contract and ensuring compliance. It implies systematically managing the contract creation and maximizing the operational and financial performance of contracts. An increase in the use of contracts in organizations requires growing recognition for improving contractual processes; thus proper management of contracts is essential.

Q6. Write short notes on: 10

·         Software development agreements

·         Bill of quantities method of pricing project contracts

·         Reasons for why an organization uses standard form of contract

·         Post bid review

Answer:

Software Development Agreements

Software and IT projects involve software testing, software development and software

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SUMMER 2015

PROGRAM

MBADS (SEM 4/SEM 6)

MBAFLEX/ MBA (SEM 4)

PGDPMN (SEM 2)

SUBJECT CODE & NAME

PM 0017 –PROJECT QUALITY MANAGEMENT

Qus:1 Cost of quality is the amalgamation of several management costs. Which are these costs?

·         Give the classification of Cost of Quality and explain each cost in brief

Answer:

Give the classification of Cost of Quality and explain each cost in brief:

“Quality is free and it costs visibly less to get a job done right the first time”. Rework on the same project levies additional costs. Cost of quality is not the cost of producing a quality product or rendering quality

Qus:2 What is Project Quality Management Plan (PQMP)? Mention its objectives and the areas it covers.

·         Define PQMP

·         List the objectives of PQMP

·         Explain the areas PQMP covers

Answer:

Define PQMP:

The Project Quality Management Plan (PQMP) is the final output of the project quality planning process. It should clearly identify the quality standards and quality objectives related to project deliverables. It

Qus:3 List a few characteristics of a mature project quality control process. What are the functions of quality control?

·         Write any 7 characteristics of a mature project quality control process

·         List and describe the 3 key functions of quality control

Answer:

Write any 7 characteristics of a mature project quality control process:

A mature project quality control process of an organisation can be recognised through multiple characteristics, which include:

·         Quality

Qus:4 Explain the seven steps of Basili’s GQM process.

·         List the seven steps of Basili’s GQM process.

·         Describe the seven steps of Basili’s GQM process.

Answer:

List the seven steps of Basili’s GQM process:

·         Develop a set of goals

·         Develop a set

Qus:5 Explain the various tools that can be used for analysing project processes.

·         List the various tools that can be used for analysing project processes

·         Describe the various tools that can be used for analysing project processes

Answer:

List the various tools that can be used for analysing project processes:

Qus:6 What major human factors affect project quality?

·         List the major human factors affect project quality

·         Describe the major human factors affect project quality

Answer:

List the major human factors affect project quality:

·         Shareholders

·         Management and employees:

·         Customers

·         Suppliers and distributers

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SUMMER 2015

PROGRAM

MBADS (SEM 4/SEM 6)

MBAFLEX/ MBA (SEM 4)

PGDPMN (SEM 2)

SUBJECT CODE & NAME

PM 0016 –PROJECT RISK MANAGEMENT

Qus:1 Explain the types of project risks.

·         List and describe the types of project risks

Answer:

List and describe the types of project risks:

Various types of project risks are defined on the basis of the aspect or area of the overall project management that gets impacted. Some important types of project risks are depicted in Fig.

Qus:2 What are the four quadrants of the risk probability and impact matrix?

·         List and explain with suitable examples the four quadrants of the risk probability and impact matrix

Answer:

List and explain with suitable examples the four quadrants of the risk probability and impact

Qus:3 What are the outputs of a qualitative risk analysis? What are the key inputs used in risk planning?

·         List and describe the outputs of a qualitative risk analysis

·         List and describe the key inputs used in risk planning

Answer:

List and describe the outputs of a qualitative risk analysis:

A qualitative risk analysis leads to the following outputs:

·         Overall “qualitative” ranking of risks

·         List of

Qus:4 What are the sources of schedule risk?

·         List and explain the sources of schedule risk along with the description of their sub categories

Answer:

List and explain the sources of schedule risk along with the description of their sub categories

·         Delays

·         Dependencies

·         Estimates

Delay :

·         Decision: Timely decisions are important in project execution during approvals,

Qus:5 What are the different tools used for analysing project constraints? How does SWOT analysis help in project management?

·         List and explain the different tools used for analysing project constraints

·         Explain how SWOT analysis help in project management by using a suitable example

Answer:

List and explain the different tools used for analysing project constraints:

The analysis of constraints and assumptions helps not only in project planning and execution but also in identifying the potential risks if the assumptions go wrong. The commonly used tools for identifying

Qus:6 Explain project review.

·         Explain the purpose of project review

·         Describe Scheduling project review

·         Mention the objectives of project review

·         Describe how the review is conducted

Answer:

Explain the purpose of project review:

Project reviews offer a platform for the project managers and stakeholders to come to a same forum and review the

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SUMMER 2015

PROGRAM

MBADS (SEM 4/SEM 6)

MBAFLEX/ MBA (SEM 4)

PGDPMN (SEM 2)

SUBJECT CODE & NAME

PM 0015 – QUANTITATIVE METHODS IN PROJECT MANAGEMENT

Qus:1 Explain how Kano model is used by companies to analyse customer needs.

·         Explain how the Kano model is different from the balanced scorecard model and Treacy-Wiersema model

·         Describe how the model analyses customer needs based on customer requirements

·         Describe the different categories of customer preferences in the Kano model

Answer:

Explain how the Kano model is different from the balanced scorecard model and Treacy-Wiersema model:

Balanced scorecard model:

The balanced scorecard model defines four scoring areas for business value and was first published by Robert S.

Qus:2 a. Explain the concept of expected value.

b. Suppose project A and B are under construction. The possible profit outcomes of project A are USD 1000 (0.4 probability) and USD 300 (0.6 probability). Project B has profit outcomes of USD 900 (0.6 probability) and 200 (0.4 probability). Calculate the expected values of profit to be generated by the two projects.

a. Elucidate the concept of expected value

b. Calculation of expected value

Answer:

a. Elucidate the concept of expected value:

The concept of expected value revolves around random variables. These random variables also have averages but are not calculated by simply adding up the different variables. The average of a random

Qus:3 Write short notes on :

·         Project scoping process

·         Resource assignment matrix

Answer:

Project scoping process:

The project scoping process is the first step in the project development process. This process is undertaken to determine what the project should entail and what potential impacts exist. Similar to every process,

Qus:4 Explain the various expense items in a project.

·         List the various expense items in a project

·         Describe each expense with suitable examples

Answer:

List the various

Qus:5 What are the major steps in time management process? What is rolling wave planning?

·         Explain the 5 major steps in time management process

·         Explain rolling wave planning

Answer:

Explain the 5 major steps in time management process:

Following are the major steps involved in the time management process:

1. Activity definition: This involves decomposition of work package into tasks/activities to deliver the work package deliverable.

Qus:6 What are the steps that should be followed to construct a “house of quality”?

·         Explain the 5 steps that should be followed to construct a house of quality

Answer:

Explain the 5 steps that should be followed to construct a house of quality:

The following steps need to be followed to construct a house of quality:

·         Step-1 Voice of the customer: This step includes determining and identifying the customer’s needs. The main objective of this step is to translate the needs of every customer into engineering specifications. Customers buy products that have the desired characteristics, and

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