1. First year Project Handling Paper-580 Assignments Submit by- Submit to- Kawinder jit Rakesh Kumar Enroll no.-5800800101 Checked by-

3. Unit I Visit a project management company. Understand from their perspective what a project is, and how a project manager contributes to completion of the project. Ask the representative of the company what the owner of a project to do to meet the project objectives.

4. Project management Generally, project management is distinguished from the general management of corporations by the mission-oriented nature of a project. A project organization will generally be terminated when the mission is accomplished. According to the Project Management Institute, the discipline of project management can be defined as follows: Project management is the art of directing and coordinating human and material resources throughout the life of a project by using modern management techniques to achieve predetermined objectives of scope, cost, time, quality and participation satisfaction .

5. The basic ingredients for a project management framework may be represented schematically in Figure1. A working knowledge of general management and familiarity with the special knowledge domain related to the project are indispensable. Figure 1

6. To understand PM we take a tour of PMC named: Planning & Development India Ltd (PDIL) Noida. Major Landmarks in the History of PDIL: In 1951 , PDIL was established as a Technology wing of Fertilizer Corporation of India Limited , with an objective to obtain Technological Self reliance. In 1961, PDIL's activities were enlarged and it became P&D , Planning & Development Division of FCI Ltd In 1978, FCI & NFL group of companies were reorganized and P&D Division of FCI Ltd. became Independent Public Sector Undertaking called Fertilizer (Planning & Development) India Limited (FPDIL) .In 1981, FPDIL became Projects & Development India Limited. (PDIL) with an objective to diversify in the areas beyond fertilizer & chemicals. Since, its formation, PDIL has been involved in the design, engineering and construction of almost all the major grass-root fertilizer projects in India. At present, India is ranked fourth in the world in terms of installed capacity and consumption of nitrogenous fertilizers, a vital economical input for the agricultural sector. Over two-third of the installed capacity of nitrogenous fertilizers in India is produced in plants, engineered and constructed by PDIL

13. Unit II Visit a business owner who has not undertaken a project yet. Ask how he raised capital in past, for what purpose, and how much capital he raised. Ask how he estimated the funds he would need. Also ask how he evaluated the profitability of the venture he was planning.

14. Project /Venture funds further classified over the lifecycle as : Capital cost- acquiring assets, purchasing software, licensor’s fee Working capital – raw material purchase, operating supplies, work-in-progress expenses, finished product. Operating cost – recurring expenditure on production, marketing and maintenance (labor, utilities ,repairs , selling expenses, material) Brief : Funds are vital for the project. That ‘s why their (capital/funds/cost) estimation and raising one of the most important step in project management. They required to meet the objectives, target and actualization of the project. Whether you run organized business or unorganized business funds remain important. Another pivotal point is profitability of the venture you are work on or planning to do.

18. Assignment to discuss: Which types of estimates were used throughout the lifecycle of the project, and what methods were used to estimate them?

19. What’s the lifecycle of project? A project lifecycle simply includes the necessary steps, from beginning to end, needed to complete a project. Now the question arises which type of estimates were used throughout the lifecycle of the project. Estimates are required for assessing fund requirement and the economic viability of the project. In the PLC cost estimate plays very vital role, on it’s accuracy the project life and also their economic viability depends.

21. To demystified above we take excerpts from a commercial/service project life-cycle estimates Prepare background information : The project approach is based on heavy investment , that’s the some background information( scope of work requirement costs-labor, equipment ,deliverables , architectural views and other important information that would impact cost ) research take which will ensure the estimator has all information for comprehensive and accurate cost analysis.

22. System /service description Assumptions Constraints Rules &policies Acquisition plan &strategy Operation concepts Life cycle concepts Cost analysis's requirements description Select methods/ models Collect ,validate and adjust data Estimate cost Asses risk and sensitivity Document &present results Comm. & Cord. Prepare background information Develop a standard Prepare cost estimate

24. Collect validate and adjust data Regardless the source, the validation of data is essentially important because actual cost experience in past and current acquisition programs often form the basis of estimate of future system- Cost report from previous project incurred costs to date, to estimated incurred cost by completion, nonrecurring costs, recurring costs, direct labor, direct material and overheads. At last we consolidate with Assessing risk and sensitivity – Trade-off ,delay landings ,Govt. policies, inflation index.

25. Unit III You are a project manager, and the project that you have to complete is to have a successful career. Create a work breakdown structure for your project keeping in mind the guidelines and cautions mentioned in lesson.

26. Work breakdown structure (WBS) WBS is an exhaustive, hierarchical tree structure (general graphic/flow chart of activities) of deliverables and tasks that need to be performed to complete a project. In other way we describe WBS as a critical tool for organizing work, building realistic schedules and cost estimates and reporting/tracking/controlling. Project management body of knowledge (PMBOK ) guide defined WBS as: A deliverable-oriented hierarchical decomposition of the work to be executed by project team to accomplish the project objectives and create the required deliverables.

27. Not going deep into what actual WBS is. We understand more about it by looking its purpose. Purpose : Accurately define the scope of the project. Breaks the project deliverables or objectives down to more specific and measurable chunk. WBS helps to assigning responsibilities, delegating authorities , resource allocation ,monitoring and controlling the project. Lastly check all the deliverables specific with the stakeholders and make sure any missing link or overlapping.

28. Flow chart of a small project WBS The project Project services Components Deliverables Components Activities Manager (control/ finance) Engineer/designer Contractor/labor Clerical Material suppliers Cost components Quality Executing Time element

30. Unit IV Query Do a value engineering review for any product you are familiar with. If it is a sari, make note of how you will review it for value to bring the cost of a Rs. 50,000- designer sari down to Rs. 5,000- without losing the ‘look’ of the sari.

34. Unit v Find a project manager who has recently completed a turn-key project. What was his experience ? Speak also to the owner of the project, and ask what his experience was. Compare and contrast the two experiences , and reach your own conclusions about whom the turnkey project has benefited more: owner, or the project manager.

38. Implementation time Earlier available Revenue sooner Cost control capital resources

41. On looking both the perspective our opinion represent as ; Turnkey contracts – commercial turnkey residential turnkey In commercial set-up turnkey contracts are beneficial to both of the parties (owner/P.M). They are two parallel beneficiary of the contract where owner done investment for gaining or scaling up the establishment. Though application time / capital cost return is most important. On the other P.M being recognized along with monetary benefits. He is more talk about and noticeable in market.

42. In residential turn-key , more leverage and other aspect of benefits towards contractor/P.M because owner’s perspective is different. The loss of design control factor affect the part of owners . Any change in design plan and process causes surcharges and schedule change reimbursement. Their perspective may intersect/collide which causes loss to one of the party to contract.