PM0015 – QUANTITATIVE METHODS IN PROJECT MANAGEMENT

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DRIVE-Fall 2014

PROGRAM/SEMESTER -MBADS (SEM 4/SEM 6)

MBAFLEX/ MBAN2 (SEM 4)

PGDPMN (SEM 2)

SUBJECT CODE & NAME PM 0015 – QUANTITATIVE METHODS IN PROJECT

MANAGEMENT

BK ID-B1344

CREDIT AND MARKS-4 CREDITS AND 60 MARKS

Q1. Write short notes on:

(Graphical Evaluation and Review Technique (GERT), Cost control) 5, 5

Answer.

Graphical Evaluation and Review Technique (GERT)

Graphical Evaluation & Review Technique (GERT) deals with probabilistic situations. Although PERT technique also deals with uncertainties in timing of the projects its calculations are based on the assumption that each activity contemplated will materialize without any omission and there is no allowance for a probabilistic choice of a path between nodes. PERT can not deal with a situation where the activities already dropped at a subsequent stage to

Q2. Describe CPM technique of project planning.

(Explain what is the CPM, Steps in CPM planning, Benefits of CPM, Limitations of CPM) 1,6,1.5,1.5

Answer.

CPM technique of project planning

In 1957, this project management method was designed in order to address the challenge of shutting down the chemical plants for maintenance and then restarting the plants once the maintenance work was completed. The main benefits of the CPM are as follows:

·         CPM provides a graphical view of the project

·         CPM predicts the time required to complete the project

·         It shows the activities which are critical to maintaining the schedule and which are not

Q.3. what do you understand by managing cash flow?

(Description of Moving Averages and, Exponential Smoothing.) 5,5

ANS:

Moving Averages

The method of moving averages for smoothing a time series is highly subjective and dependent on L, the length of the period selected for constructing the averages. If cyclical fluctuations are present in the data, the value of L chosen should be an integer value that corresponds to (or is a multiple of) the estimated average length of a cycle in the series. For example, suppose we want to compute 5-year moving averages from a series containing n = 11 years.

Q.4. Describe how you can choose an appropriate forecasting model. (2 marks each)

Guidelines for Selecting a Model for the Purpose of Forecasting:

·         Performing a Residual Analysis

·         Measuring the Magnitude of the Residual Error Through Squared or Absolute Differences

·         Mean Absolute Deviation

·         Principle of Parsimony

ANS:

Guidelines for Selecting a Model for the Purpose of Forecasting

The guidelines are as given below:

1. Perform a residual analysis

2. Measure the magnitude of the residual error through the squared differences

3. Measure the magnitude of the residual error through absolute differences

Q.5. Describe how you can display data using Gantt chart and Network Diagram Chart in MS Project.

( Description of displaying data using Gantt chart, Description of displaying data using network diagram chart) 5, 5

ANS:

Description of displaying data using Gantt chart

The Gantt chart is a horizontal bar chart that represents each task in the time scale of the project. Each task entered in the project will be shown. The Gantt Chart can be used to visually keep track of the tasks and also may be used to identify important points about each task. Those tasks that together control the completion date are known as the

Q.6. How to create a report on the project activities in the MS Project.

(A Setting Up of Reports, Process of Creating or Editing Reports , Reports that can be printed, Check the Reports Available , Print a Report, Reports by Report Type) (2 marks each)

ANS:  

Editing Reports: Most of your reports will be available from the pre-selected ones. The Custom choice will allow you to design a very specific report if required. Using this feature will hopefully now be familiar to you as the principle is not dissimilar to and easier than editing tables and filters. When creating a custom report format the Custom Report box will display 25 options which can be used directly or edited according to your needs. When the required settings have been made the new report will be available for printing.

Dear students get fully solved  SMU MBA Fall 2014 assignments

Send your semester & Specialization name to our mail id :

  “ help.mbaassignments@gmail.com ”

or

Call us at : 08263069601

These are just questions for reference . To check samples see our latest uploads in blog archive or search assignments .

(Prefer mailing. Call in emergency )