PM0015 – Quantitative methods in Project Management

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ASSIGNMENT

DRIVE	FALL DRIVE 2013
PROGRAM/SEMESTER	MBADS – (SEM 4/SEM 6) / MBAN2 / MBAFLEX – (SEM 4) / PGDISMN (SEM 2)
SUBJECT CODE & NAME	PM0015 – Quantitative methods in Project Management
BOOK ID	B1344
CREDITS	4
MARKS	60

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.

Q1. Discuss PERT technique of project planning. 10 marks(300-400) words

Answer : PERT technique

Critical Path Analysis and PERT are powerful tools that help you to schedule and manage complex projects. They were developed in the 1950s to control large defence projects, and have been used routinely since then.

As with Gantt Charts, Critical Path Analysis (CPA) or the Critical Path Method (CPM) helps you to plan all tasks that must be completed as part of a project. They act as the basis both for preparation of a schedule, and of resource planning. During management of a project, they allow you to monitor achievement of project goals. They help you to see where remedial action needs to be taken to get a project back on course.

Q2. Explain the two criteria by which scheduling can be finalised in relation with the resource deployment 10 marks(300-400) words

Answer : Resources are people, equipment, locations, or anything else that you need in order to do all of the activities that you planned for. Every activity in your activity list needs to have resources assigned to it. Before you can assign resources to your project, you need to know which ones you’re authorized to use; that’s called resource availability. Resource availability includes information about what resources you can use on your project and when they’re available to you. Don’t forget that some resources like consultants or training

Q3. Describe the time-series forecasting of seasonal data.10 marks(300-400) words

Answer : Many types of data are collected over time. Stock prices, sales volumes, interest rates, and quality measurements are typical examples. Because of the sequential nature of the data, special statistical techniques that account for the dynamic nature of the data are required.

STATGRAPHICS Centurion provides an extensive set of procedures designed for analyzing time series data:

1. Descriptive Methods - time sequence plots, autocorrelation functions, partial autocorrelation functions, period grams, and cross-correlation

Q4. State the basic functionalities of MS Project 10 marks(300-400) words

Answer : Microsoft Project users have a reason to look forward. In 2010 a new version of the leading software will hit the market. We have tested a beta version for you and present the crucial innovations in the following article.

Starting up

There are two opinions among our colleagues about the newest Office version. Some are enthusiastic about the new user interface in Office. Others are still complaining on a daily basis about the so-called ribbons. I am part of the last group and, from time to time, need minutes at a time to search for a specific function. And now this: Microsoft

Q5. Describe the various elements of entering and managing resources in MS Project10 marks(300-400) words

Answer : PROJECT AIMS AND OBJECTIVES

·         To build upon and extend the work already undertaken by one project member in this field

·         To assist the University of Northampton to develop strategies that address traditional subject gender imbalances

·         To meet a stated aim of The British Computer Society (BCS), which is to encourage more females to take up a career in Computing and IT

·         To meet an identified aim of Microsoft Premier

Q6. How to create a report on the project activities in the MS Project 10 marks(300-400) words

Answer : Create and print a basic report

You can create and print basic predefined task, resource, and crosstab reports to help present your project data to others. You can change any of these reports to present the information that you want.

What basic reports are available?

Basic reports are divided into six categories in the Reports dialog box (Report menu). The following sections provide descriptions of the reports in each

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