DMBA 206 – PROJECT MANAGEMENT

Description

SESSION	JUL – AUG 2024
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	II
COURSE CODE & NAME	DMBA206 PROJECT MANAGEMENT

 

 

Assignment Set – 1

 

 

1. Why is project management important? Also, discuss the importance of project identification.

Ans 1.

The Importance of Project Management

Project management is a critical component of achieving organizational success, particularly in today’s dynamic and competitive business environment. It serves as a structured approach to planning, executing, and managing resources to achieve specific goals within defined constraints such as time, budget, and scope.

One of the primary reasons project management is important is its ability to provide a clear framework for achieving objectives. It breaks down complex goals into manageable tasks and allocates resources efficiently, ensuring that each team member knows their responsibilities. This clarity enhances

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2. Explain the life cycle of a project.

Ans 2.

Life Cycle of a Project

The life cycle of a project refers to the structured progression of activities and phases a project undergoes from its initiation to its closure. It provides a framework that ensures the project is well-planned, executed, monitored, and completed efficiently. The project life cycle typically includes four main phases: Initiation, Planning, Execution, and Closure. Each phase has specific goals and

 

3. Define the term scheduling. What are the key steps included in risk management process?

Ans 3.

Scheduling and Risk Management in Project Management

Scheduling is a critical component of project management that involves planning and organizing tasks, resources, and timeframes to ensure project completion within the designated deadlines. It establishes a timeline for project activities, detailing when each task will begin, the duration it will take, and its interdependencies with other tasks. By providing a structured timeline, scheduling ensures that resources are effectively utilized, potential delays are identified, and project objectives are met in an organized manner.

Effective

 

 

Assignment Set – 2

 

4. Define Quality. What are the key attributes of quality? How will you design an effective PMIS?

Ans 4.

Quality and Its Key Attributes

Defining Quality

Quality can be broadly defined as the degree to which a product, service, or process meets or exceeds customer expectations. It is not merely about achieving a standard but about consistently fulfilling or surpassing the anticipated requirements. Quality is multidimensional and context-dependent, covering attributes such as performance, reliability, durability, and customer satisfaction. In the realm of project management, quality is a critical component, ensuring that the project deliverables align with the defined scope, timeline, and budget while meeting stakeholder

 

5. Describe the process of project performance evaluation. Also, briefly discuss the purpose of project execution and control.

Ans 5.

Project Performance Evaluation and Its Process

Project performance evaluation is a systematic approach to assessing whether a project is achieving its objectives within the constraints of time, cost, and quality. This evaluation helps identify areas of success, inefficiencies, and potential risks to ensure the project aligns with the organizational goals. The process begins with defining clear performance metrics and criteria based on the project scope and objectives. These metrics often include parameters such as schedule

 

6. Briefly discuss the steps to close the project. Discuss the advantages of using PM software package.

Ans 6.

Steps to Close a Project

Closing a project is a critical phase in the project lifecycle, ensuring all activities are finalized and objectives are met. It involves formalizing the acceptance of project deliverables and the systematic conclusion of project