The document provides information for students regarding SMU MBA assignments, detailing how to submit assignments and the structure of responses required. It covers various topics in project management including phases of the project management life cycle, economic feasibility, project planning, diversity management, and risk management, along with their significance and methodologies. Additionally, it addresses quality planning and performance evaluation techniques essential for effective project execution.

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Assignment
Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately
of 400 words. Each questionis followedbyevaluationscheme.
Q. 1. Explainthe phasesof project managementlife cycle.
Answer:The process of directing and controlling a project from start tofinish may be further divided into
5 basicphases:
1. Project conception and initiation: An idea for a project will be carefully examined to determine
whether or not it benefits the organization. During this phase, a decision making team will identify if the
project can realistically be completed. In this phase, the project team selects the project and decides if it
will benefit the organization. They define the scope of the project and the desired outcomes. Before
beginning a project, the team decides if the project is realistic and can be completed within the three
keyprojectconstraintsof time,moneyandscope.
Q. 2.Write short noteson:
a. Economic feasibilityofa project
DRIVE WINTER 2014
PROGRAM MBA/ MBADS/ MBAFLEX/ MBAHCSN3/ PGDBAN2
SEMESTER II
SUBJECT CODE & NAME MB 0049 - PROJECT MANAGEMENT
BK ID B1632
CREDIT & MARKS 4 CREDITS, 60 MARKS

2. Answer:A feasibility study may also include an economic analysis of the project. The purpose of
economic analysis is to determine whether there is an economic case for the investment decision. This
assessment goes beyond the items typically included in a financial analysis. Economic feasibility is
interestedin:
 the economic
b. Needfor projectplanning
Answer: A project plan is a crucial element of project management, as it defines the project's main
objectives regarding collaboration, time constraints and finances. The plan is subject to change during
the course of the project, and a clearly detailed plan should be implemented and updated regularly.
Disregardingthe planningstage will ultimatelyconclude withafailedproject.
 Accountability: A project plan allows those of authority to delegate tasks and assign roles and
responsibilities related to the project's goals. A clearly defined plan eliminates the dilemma of
task duplication
c. Diversity management
Answer:Diversity management is the strategy of using best practices with proven results to find and
create a diverse and inclusive workplace. Diversity management is the “recognition and valorization of
individual differences”. The concept of diversity encompasses acceptance and respect. It means
understanding that each individual is unique, and recognizing our individual differences. These can be
along the dimensions of race, ethnicity, gender, sexual orientation, socioeconomic status, age, physical
abilities,religiousbeliefs,
d. Rulesfor network construction
Answer:As an experimental system, seed germination is well suited to assess coprediction for network
construction. The decision to complete germination is a binary and irreversible developmental phase
transition. The annotation of transcriptomic samples based on this developmental fate is therefore
reduced to a simple binary classification. The generation of a network demonstrating developmentally
regulated domains of genes and associations between the genes in Arabidopsis seeds reflects the
accurate reconstructionof functional
Q. 3.What are the key stepsfor effective riskmanagement?
Answer:A common definition of risk is an uncertain event that if it occurs, can have a positive or
negative effect on a project’s goals. The potential for a risk to have a positive or negative effect is an
important concept. Why? Because it is natural to fall into the trap of thinking that risks have inherently
negative effects. If you are also open to those risks that create positive opportunities, you can make
your project smarter, streamlined and more profitable. Think of the adage -“Accept the inevitable and
turn itto your advantage.”Thatis whatyou dowhenyoumine projectrisksto create opportunities.

3. Q. 4.Write a short notes on
a. Parametric estimatingtool of cost estimating
Answer: In the Estimate Costs process, the cost of each project activity isestimated. An interesting thing
about this process is that it also uses the same three tools used in the Estimate Activity Duration
process. In the estimate activity duration process, you were determining the time taken by each activity
and now,inestimatingcostsprocess,youhave tocalculate the total cost of the project.
In thisprocess,the costof each activityisdetermined
b. Procurementprocess
Answer: Procurement is the acquisition of goods, services or works from an external source. It is
favourable that the goods, services or works are appropriate and that they are procured at the best
possible cost to meet the needs of the acquirer in terms of quality and quantity, time, and
location.Corporations and public bodies often define processes intended to promote fair and open
competitionfortheirbusinesswhileminimizingexposure tofraudandcollusion.
c. Project team’s responsibilitiesinprojectexecution
Answer: The Project Team is the group responsible for planning and executing the project. It consists of
a Project Manager and a variable number of Project Team members, who are brought in to deliver their
tasksaccording to the projectschedule.
 The Project Manager is the person responsible forensuring that the Project Team completes the
project. The Project Manager develops the Project Plan with the team and manages the team’s
performance of projecttasks.Itis
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d. Project termination
Answer:Project termination is one of the most serious decisions a project management team and its
control board have to take. It causes frustration for those stakeholders who sincerely believed - and in
most cases still believe – that the project could produce the results they expected, or still expect. The
projectmanagerand hisor herteam
Q. 5.What is Quality planning? Explain the inputs, tools and techniques and outcomes of quality
planning.

4.  Definitionof qualityplanning
 Descriptionof the inputsto qualityplanning
 Descriptionof the toolsandtechniquestoqualityplanning
 Descriptionof the outputsfromqualityplanning
Answer:Quality Planning is a critical part of any project. It enables you to agree a set of quality targets
withyourcustomer.It thenhelpsyouto
Q. 6.Describe the various types of project performance evaluation techniques. List any FOUR benefits
of performance measurementand evaluation.
Answer:Performance evaluation is the process by which information from the monitoring program is
used to evaluate the status of the mitigation wetland in relation to the performance standards. In large
measure, the performance standards will dictate the type of monitoring data needed and the analyses
necessarytodetermine the mitigationwetland'slevel of performance.
Career Development: Performance evaluations allow managers to help employees with career
development. Performing an unbiased evaluation can point out where employees are excelling and the
areas needingimprovement.Afterthe
Dear students get fully solved SMU MBA assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call us at : 08263069601
(Prefer mailing. Call in emergency )