MBA206 - PROJECT MANAGEMENT

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DRIVE Summer 2017
PROGRAM MBA

SEMESTER II

SUBJECT CODE & NAME MBA206 - PROJECT MANAGEMENT

Set 1

1 Explain Phases of Project Management Life Cycle in detail. What are Project Management Principles?
Ans Project management is a rationally planned and organised effort to attain a specific goal. It comprises of organising, coordinating and managing different tasks and resources for successful


2 Write Short Notes on Project Planning & Work Breakdown Structure (WBS).

Ans Project Planning
Project planning is a discipline for stating how to complete a project within a certain timeframe, usually with defined stages, and with designated resources. This process helps draw a blue print for execution with little or no modifications. Project plans do not allow much deviation and are strictly guided by defined parameters viz., time scale, categorical budgets, and


3 Answer the following questions:
1. Mention the steps involved in a competitive bid.
2. Mention the elements/points that must be kept in view when designing , developing and operating a PMIS (Project Management Information System)
1. List the 5 steps involved in a competitive bid
2. List the 5 elements/points that must be kept in view when designing , developing and operating a PMIS

AnswerCompetitive bid (bid and award)
The steps involved in competitive bid are discussed below:
1. The bid or tender is invited from a required number of suppliers.
2. The bid received in prescribed condition are accepted and held in safe custody.
3. The bids are

Set 2

1 What is Value Engineering? Explain the process & Stages of Value Engineering.

Ans Value engineering is the systematic application of recognised techniques that identifies the function of a product, process or services, accomplishes a monetary value of that


2 Write short notes on
1. Role of risk management in overall project management
2. Quality assurance

AnswerRole of Risk Management in Overall Project Management
Risk analysis and management is a process which enables the analysis and management of the risks associated with a project. Properly undertaken, it will increase the likelihood of



3 Explain Earned Value Method (EVM) in detail.
•    Earned Value Method (EVM)

Answer:
The concept of earned value management became a fundamental approach to program management in 1966 when the United States Air Force mandated earned value in conjunction with the other planning and controlling requirements on Air Force programs. The requirement
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