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PROJECT
TOOLS & TECHNIQUES
MBA in Project Management
Assignment – 2021
Answer any 8 of
the below questions. Each question carries 12.5 Marks
Question
1:
Project and
Production sounds similar and the two concepts are often confused with each
other. However, in practice they are different and require different skills,
governance and mindsets.
Discuss the
relation between project and production in detail.
Answer: What is a project?
A project is a temporary endeavor, with a clear definition of what
needs to be delivered and by when.
A project has a beginning and end date. The delivery team is
disbanded when complete until the next project initiates, which could be years
afterwards. Most projects make plans at the beginning where the least is known
about what could go wrong and what the needs are.
Customers don’t care about projects, customers care about the
value your service offers them. That is why the notion of products were born.
Question 2:
Supply chain
management is a network of those businesses that are interconnected with each
other in the manufacturing of products and delivering of services.
Explain the
importance of production as part of the supply chain management.
Answer: Supply change management is a highly-detailed
system used by small and large organizations alike to get products to
consumers, from obtaining raw materials, manufacturing and delivering the final
product to the customer. A well-organized supply chain management system
involves optimizing operations functionality to be fast and efficient.
Why is Supply Chain
Management So Important?
Question 3:
The project
lifecycle is a framework designed to help project managers guide their projects
successfully from start to finish.
Elaborate the
different stages in a life cycle of a project.
Answer:
The project management life cycle describes high-level processes for delivering
a successful project. For every $1 billion invested in projects by companies in
the United States, $122 million was wasted due to lacking project performance, according
to Project Management Institute Research.
Wasted
money and resources can be prevented with effective project management, as 57%
of unsuccessful projects fail due to communication breakdown. In the phases of
the project management life cycle, you come up with the idea for a project,
define its goals, plan for its execution, and guide it to completion.
Question 4:
Project execution
is the stage of the project where everything that is planned is put into
action.
List out the
problem faced while executing a project.
Answer: Despite the availability of multiple resources, project
management tools, training materials, and flexible methodologies, companies are
still wasting millions of dollars every year and are struggling to tackle the
project management challenges and issues they face.
A study published in the Harvard Business Review
Question 5:
The A-O-A and
A-O-N will come under PERT, which is a well-known method that is used to
analyze various tasks when it comes to completing a project.
Why is A-O-N
network considered as an alternative to A-O-A network?
Answer:
Question 6:
PERT charts are
tools used to plan tasks within a project- making it easier to schedule and
coordinate team members accomplishing the work.
What are the
standard PERT assumptions and discuss the alternatives to PERT?
Answer:
Question 7:
Burgess &
Killebrew have designed an eight-step procedure to minimize the total sum of
squares of resource usage. Discuss each step-in detail.
Answer:
BURGESS & KILLEBREW HEURISTIC
This
is an eight step procedure designed to minimize the total sum of squares of the
resource usage.
It
thus looks at the whole profile and not just the peak(s).
In
case of multiple resources the most important resource is considered first,
followed by the next and so on.
STEP 1
List
project activities in order of precedence by arranging the arrow head numbers
in ascending order. When two or more activities have the same head number, list
them so that the arrow tail numbers are also in ascending order. Add to this
list, the duration, the early start and slack values for each activity.
Question 9:
Critical path
method is an algorithm for scheduling a set of project activities.
How can we
determine the critical path and what are the difficulties faced during path
enumeration?
Answer:
In project management, the critical path is the longest sequence of tasks that
must be completed to successfully conclude a project, from start to finish. The
tasks on the critical path are known as critical activities because if they’re
delayed, the whole project will be delayed. By identifying the critical path,
you can determine the total duration of a project, and you’ll have a clear
picture of the project’s actual schedule.
To find the critical path, project managers
use the
Question 10:
For managing a
project different resources are required to carry out the project tasks.
Discuss the
renewable and non- renewable resources used in a project.
Answer:
In the PERT/CPM scheduling techniques , project activities are characterized by
their estimated duration(s) and project networks are constructed by adding
precedence relations between these activities. It is therefore implicitly
assumed that these activities do not require resources during their execution
(or alternatively, the assumption is that the resources are unlimited in
availability). In practice, activities need resources during their execution
that are
Dear students get fully solved
assignments
Send your semester &
Specialization name to our mail id :
help.mbaassignments@gmail.com
or
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