PM 0015 – QUANTITATIVE METHODS IN PROJECT MANAGEMENT

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Assignment

DRIVE	WINTER 2015
PROGRAM	MBADS (SEM 4/SEM 6)  MBAFLEX/ MBA (SEM 4)  PGDPMN (SEM 2)
SUBJECT CODE & NAME	PM 0015 – QUANTITATIVE METHODS IN PROJECT MANAGEMENT
BK ID	B2011
CREDIT AND MARKS	4 CREDITS AND 60 MARKS

1 Write short notes on:

(a)Kano model

Answer: The Kano model is a theory of product development and customer satisfaction developed in the 1980s by Professor Noriaki Kano, which classifies customer preferences into five categories.

Categories

These categories have been translated into English using various names (delighters/exciters, satisfiers, dissatisfiers, etc.), but all refer to the

(b)Differences between a sponsor’s view and project’s view in a project balance sheet:

·         Individual or entity that organizes and is committed to the development of a product, program, or project.

·         Advertiser who pays (in part or in full) the cost of broadcasting a radio or television program, by running commercials during the program's broadcast.

.Donor firm that

(c)Triangular distribution: The triangular distribution is a continuous probability distribution with lower limit a, upper limit b and mode c, where a < b and a ≤ c ≤ b.

·         Use of the distribution: The triangular distribution is typically used as a subjective description of a population for which

(d)Organisational break down structure: An Organisational Breakdown Structure, OBS, compliments the Work Breakdown Structure and Resource Breakdown Structure for your project. Its main intent is to communicate how those tasked with delivering the project will be organised and structured as a Project Team. It's without a doubt the simplest of the three structures in terms of understanding, yet performs a great role in

2 Discuss capitals budgeting in project management.

Answer: Capital budgeting, or investment appraisal, is the planning process used to determine whether an organization's long term investments such as new machinery, replacement machinery, new plants, new products, and research development projects are worth the funding of cash through the firm's capitalization structure (debt, equity or

3 Write short notes on:

(a)Rolling wave planning: Rolling Wave Planning is the process of project planning in waves as the project proceeds and later details become clearer. Work to be done in the near term is based on high level assumptions; also, high level milestones are set. As the project progresses, the risks, assumptions, and milestones originally identified become more defined and reliable. One would use Rolling Wave Planning in an instance where there is an

(b)Time centric earned value: Time centric earned value systems are a substitute for cost-centric systems when the cost collection measures are not available but there is a need to focus on value accumulation.

·         Earned value: Earned value tools help the project manager measure and assess accumulation of value all way through the project

4 Describe the various cost incurred in a project. Describe the applications of three - point estimates.

Answer: There are five types of costs in a typical project:

·         Fixed

·         Variable

·         Direct

·         Indirect

·         Sunk

5 Explain the six sigma methodologies.

Answer: Six Sigma is a methodology that provides businesses with the tools to improve the capability of their business processes. This increase in performance and decrease in process variation leads to defect reduction and vast improvement in profits, employee morale and quality of product.

The goal of Six Sigma is to eliminate variability, defects and waste that undermine customer loyalty.

Six Sigma simply means a measure of quality that strives for near perfection. Six Sigma is a disciplined, data-driven approach and methodology for eliminating defects (driving towards six standard deviations between the mean and the nearest

6. Discuss the time and materials contract.

Solve the following problem

Consider a time and materials contract as follows:

Labour is billed according to the following schedule

1 software engineer: $45/hr

1 tester: $ 45/hr

1 senior software engineer: $65/hr

Material is billed according to the following schedule:

Cost of materials + 30 % profit/overhead

Actual cost of the material is $2140

Calculate the material cost, calculate the contract payable

Answer:

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