DPRM401 QUANTITATIVE METHODS IN PROJECT MANAGEMENT

Description

SESSION	JUL – AUG 2025
PROGRAM	MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER	IV
COURSE CODE & NAME	DPRM401 QUANTITATIVE METHODS IN PROJECT MANAGEMENT

 

 

 

Assignment Set – 1

 

 

Q1. a. What key aspects are studied in the Definition Phase of a project?

1. Discuss recent advancements in solving the shortest route and maximal flow problems. How have these advancements improved the efficiency and applicability of these algorithms? 5+5

Ans 1.

(a) Key Aspects Studied in the Definition Phase of a Project

The Definition Phase is one of the most critical stages of project management because it establishes the foundation on which all future activities are built. During this phase, managers study the project’s purpose, feasibility, and scope in order to ensure that everyone involved has a clear understanding of what needs to be achieved and how it will be approached. The first key aspect is defining the project objectives, which clarify the expected outcomes and the strategic value the project delivers. Along with objectives, the scope is examined to specify what is included, what is excluded, and what deliverables will be produced. This prevents misunderstandings and

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Q2. How does Line of Balance (LOB) assist in early problem detection? What are the steps involved in implementing the Line of Balance (LOB)? 5+5     

Ans 2.

Line of Balance (LOB): Early Problem Detection & Implementation Steps

Line of Balance (LOB) is a project control technique used particularly in repetitive or production-based projects. It visually tracks the progress of activities across different units and helps managers detect deviations early. LOB enhances accountability and supports efficient monitoring of workflows, enabling proactive corrective action before delays escalat

 

Q3. What are the importance of budgeting in project management and steps of project budgeting and costing? 10       

Ans 3.

Importance of Budgeting & Steps of Project Budgeting and Costing

Budgeting is one of the most crucial components of project management. It ensures that resources are allocated effectively, financial risks are minimized, and the project progresses within approved cost limits. A well-structured budget supports planning, scheduling, monitoring, and controlling activities throughout the project life cycle. It also improves stakeholder confidence by providing clarity on expenditures and financial expectations.

Importance of Budgeting in Project Management

Budgeting plays a

 

Assignment Set – 2

 

 

Q4. What is a resource pool, and how does it help in managing multiple projects in Microsoft Project? 10  

Ans 4.

A resource pool in Microsoft Project is a centralized collection of resource information that can be shared across multiple individual project files. It contains details such as resource names, roles, skills, availability, working calendars, and cost rates. In multi-project environments where several project managers rely on overlapping or common resources, a resource pool ensures consistency, prevents conflicts, and enhances overall resource efficienc

 

 

Q5. How does Microsoft Project assist project managers in finding and assigning resources based on criteria such as skill level or hourly rate?     10

Ans 5.

How Microsoft Project Assists in Finding and Assigning Resources Based on Skills or Hourly Rate

Microsoft Project provides powerful features that help project managers allocate the right resources to the right tasks. Modern projects require not only tracking time and work but also matching tasks with individuals who possess the required skills, experience, certifications, and cost profiles. Microsoft Project simplifies this process through intelligent tools for resource search, filtering, and assignment.

Skill-Based

 

Q6.a. What are the steps to generate a standard report in Project 2019, and how can you modify its content or layout to fit specific needs?

1. Describe how Project 2019 allows users to customize reports for better readability and visual appeal. What are some best practices for formatting text and graphics in reports? 5+5

Ans 6.

(a). Steps to Generate and Modify a Standard Report in Project 2019

Project 2019 provides a wide range of built-in reports that help managers evaluate progress, workload, costs, and schedule performance without the need for external tools. To generate a standard report, the user begins by opening the Report tab on the ribbon, which displays categories such as Dashboard, Resources, Costs, and In-Progress. Selecting a category reveals sub-reports like Project Overview, Resource Overview, Cost Overrun, or Milestones. Once the user clicks a specific report name, Project 2019 automatically generates a professionally formatted