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ASSIGNMENT
DRIVE SPRING 2017
PROGRAM MBA/ MBADS/ MBAFLEX/ MBAHCSN3/ PGDBAN2
SEMESTER II
SUBJECT CODE & NAME MBA206 - PROJECT MANAGEMENT
BK ID B1632
NUMBER OF ASSIGNMENTS,
CREDITS & MARKS
2, 4 Credits,30 marks each
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.
Question.1. Explain Phases of Project Management Life Cycle in
detail. What are Project Management Principles?
Answer: The project manager and project team have one shared goal: to carry out the work of the
project for the purpose of meeting the project’s objectives. Every project has a beginning, a middle
periodduringwhichactivitiesmove the projecttowardcompletion,andan ending(eithersuccessful
or unsuccessful).A standardprojecttypicallyhasthe followingfourmajor phases(eachwithits own
agenda of tasks and issues): initiation, planning
Question. 2 Write Short Notes on Project Planning & Work
Breakdown Structure (WBS).
Answer:
1. Project Planning
Answer: Project planning is a discipline for stating how to complete a project within a certain
timeframe, usually with defined stages, and with designated resources. One view of project
planning divides the activity into:
 Setting objectives (these should be measurable)
 Identifying deliverables
 Planning the schedule

2.  Making supporting plans
Supporting plans may include those related to: human resources,communicationmethods, and risk
management.
2. Work Breakdown Structure (WBS)
Answer: A work breakdownstructure isa keyprojectdeliverablethatorganizesthe team'sworkinto
manageable sections. The Project Management Body of Knowledge (PMBOK) defines the work
breakdown structure as a "
Question.3 Answer the following questions:
1. Mention the steps involved in a competitive bid.
Answer: If you run a small business,youmightengage inthe biddingprocessregularly.Whetheryou
are the one accepting the bids or you have to bid on jobs, the basic steps are typically the same.
Completingthe biddingprocessinthe propermanner couldbe the difference betweengettingabid
or looking for work.
2. Mention the elements/points that must be kept in view when
designing , developing and operating a PMIS (Project Management
Information System)
Answer:His theory, called "Tuckman's Stages" was based on research he conducted on team
dynamics. He believed (as is a common belief today) that these stages are inevitable in order for a
teamto grow to the pointwhere theyare functioningeffectivelytogetheranddeliveringhighquality
results.
In1977, Tuckman,jointlywithMaryAnnJensen,addedafifthstage tothe 4stages:"Adjourning."The
adjourningstage iswhenthe teamiscompletingthe currentproject.Theywillbe joiningotherteams
and moving on to other work in the near

3. Assignment Set -2
Questions
Question.1. What is Value Engineering? Explain the process & Stages
of Value Engineering.
Answer: Value engineering is used to increase the value of products. Value is a ratio of function to
cost. The value of a product can be increased by reducing its cost or increasing the function. Value
engineeringisanorganizedtechniquetoreduce the cost of a productwithoutcompromisingwithits
quality, reliability, performance, appearance, safety, utility etc.
Steps for value Engineering :
Question.2 Write short notes on
1. Role of risk management in overall project management Quality
assurance
Answer: Effective risk management strategies allow you to identify your project’s strengths,
weaknesses, opportunities and threats. By planning for unexpected events, you can be ready to
respond if they arise.To ensure your project’s success, define how you will handle potential risks so
you can identify, mitigate or avoid problems when you need to do. Successful project managers
recognize that risk management is important, because achieving a project’s goals depends on
planning, preparation, results and evaluation
2. Quality assurance
Answer:Qualityassurance (QA) isa wayof preventingmistakesordefectsinmanufacturedproducts
and avoidingproblemswhendeliveringsolutionsorservicestocustomers;whichISO9000 definesas
"part of quality management focused on providing confidence that quality requirements will be
fulfilled". This defect prevention in quality

4. Question.3 Explain Earned Value Method (EVM) in detail?
Answer:Earned value management (EVM), or Earned value project/performance management
(EVPM) is a project management technique for measuring project performance and progress in an
objective manner.
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