Friday, 5 January 2018

MBA206 - Project Management

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FALL 2017
Masters of Business Administration - MBA
MBA206 - Project Management

Note: Note –The Assignment is divide into 2 sets. You have to answer all questions in both sets. Average score of both assignments scored by you will be consider as your IA score. Kindly note that answers for 10 marks questions should be approximately of 400 words.


Question. 1. Define Project Management Body of Knowledge (PMBOK). Detail nine knowledge areas of Project Management Body of Knowledge (PMBOK).

Answer: There’s a lot to learn as a project manager! A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Fifth Edition breaks down what project managers need to know to successfully pass their PMP® exam and also be effective in the role.

There are 10 project management knowledge areas covered by the PMBOK® Guide. They cover each of the 47 project management processes. This

Question. 2. Elaborate five project life cycle phases.

Answer: Project management broadly refers to the process and related activities of planning, organizing and controlling resources to achieve specific goals. Projects are usually constrained by factors such as scope, budget and time, requiring the project management function to optimize the allocation of resources and properly integrate them to overcome these constraints and meet predefined objectives. Managing project activities can be seen as a sequence of steps to be completed, in line with the five phases that define the project life cycle.

1.       Initiation: Project initiation starts the project life cycle and involves assembling a team headed by a project manager and providing an overview of the project. The overview typically includes defining the reason for the project, business goals and the strategy to achieve the desired results. In addition, a preliminary scope, budget proposal, milestones and a completion date are given.

Question. 3. Define the determination of the Critical Path

Answer: Critical Path is a term from the field of project management describing a set of tools and a methodology.

The technical definition of the critical path in a sequence of networked work packages is the path with the least amount of slack. In practical terms, this path is the sequence of events that if any are delayed, will delay the entire project. And in even simpler terms, the critical path is the sequence of tasks that will take the longest to complete to deliver the project.


Question. 1. Illustrate strategies to control the project risk.

Answer: The things that might go wrong are called project risks, and a wise project manager identifies them early at the beginning of the project so that he or she can do something about them. Of course, risk management is an ongoing activity, so you should carry on identifying and recording new risks as they come up.

Creating a list of risks is a good starting point, but it isn’t enough in itself. You also need an action plan per risk in order to be able to manage them

Question. 2. Detail the planning process of PMIS.

Answer: Project Management Information System (PMIS) are system tools and techniques used in project management to deliver information. Project managers use the techniques and tools to collect, combine and distribute information through electronic and manual means. Project Management Information System (PMIS) is used by upper and lower management to communicate with each other.

Project Management Information System (PMIS) help plan, execute and close project management goals. During the planning process, project managers use PMIS for budget framework such as estimating costs. The Project Management

Question. 3. What is Project Performance Evaluation? Elaborate types of project performance evaluation.

Answer: In order for businesses to successfully initiate, develop and complete projects, they need to recruit, hire and train people with solid project management skills. The business world is speeding up and product lifecycles are much shorter. This is forcing organizations to start new projects at an increasing rate. However, as projects become more complex, project failures, delays, and missed deadlines are becoming increasingly common.

One of the main factors leading to the increasing complexity of projects is the rise of globalization. It is a challenging task for organizations to operate and coordinate projects in different countries around the world due to differences in time

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