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Master of Business Administration - MBA Semester 3
PM0010-Introduction to Project Management
(Book ID: B1936)
Assignment (60 Marks)
Note: Answers for 10 marks questions should be approximately of 400 words. Each question is
followed by evaluation scheme. Each Question carries 10 marks 6 X 10=60.
Q1. Define project and also elaborate different characteristics of a project?
What do you understand by Project Management and also discuss its objectives?
Definition of a Project and its characteristics - 5
Meaning of Project Management (PM) and objectives of PM - 5
Answer. The Project Management Institute (PMI) defines a project as “a temporary endeavour
undertaken to create a unique product or service. Projects usually include constraints and risks
regarding cost, schedule, or performance outcome.”
Q2. Explain in detail the stages of Project Management Lifecycle with examples?
Answer. Project Management Lifecycle
Project initiation
Initiation is the first phase of the project management lifecycle. In this phase, a project manager is
assigned through the ‘project charter’ to plan the project so that the project can be completed
within the stipulated time. The key purpose of this phase is to study the feasibility of the project.
In addition, decisions are also made regarding the persons going to be associated with the project.

2. Q3. Explain the various types of project plans?
Write a short note on Financial Feasibility of a Project?
Types of project plans - 6
Financial Feasibility of a Project - 4
Answer. Types of Project Plans
Financial plan: When you talk of a financial plan, what comes to your mind? Doesn’t it occur to
you that you use financial plan in your daily lives too? A good example of financial plan is your
family budget. In project management, a financial plan estimates the required capital to execute
the project plan. The financial plan indicates the total cost of the three M’s, namely Man,
Materials and Machines so that a schedule related to their expenses could be prepared. This helps
Q4. Discuss any two types of Capital Budgeting Techniques in Project selection?
What are the activities performed by procurement management?
Capital Budgeting Techniques in Project selection - 5
Concept of Procurement Management - 5
Answer. Capital Budgeting Techniques in Project selection:
The ARR method
ARR is also known as Return on Investment (ROI). It is a traditional method of evaluating
investment in a project. This method is significantly different from other methods of project
selection as it deals with the accounting profit of a project rather than cash flow. It does not take
Q5. Discuss the concept and objectives of project evaluation?
Briefly explain the Planning-Monitoring-Controlling (PMC) Cycle?
Concept of Project evaluation – 2 , Objectives - 3
Explanation of Planning-Monitoring-Controlling (PMC) Cycle - 5
Answer. Concept of Project Evaluation
This term originated in the year 1842, and was derived from the French word ‘évaluation’, which
means setting the value of or appraising. Hence, project evaluation can be defined as the process
of comparing the actual advancement and performance of a project to the planned advancement
and performance. It can also be called an interim assessment of a project at major milestones.

3. Q6. Discuss the importance of controlling and types of control?
Explain the different types of Project Termination?
Importance of Controlling and types of control - 5
Types of Project Termination - 5
Answer. Importance of Controlling
Creates better quality: Controlling helps in achieving customer satisfaction, which, in turn,
improves the quality of the project. In the controlling process, the errors in the project are spotted
and corrective measures are taken to rectify those errors.
Spring-2016
Get solved assignments at nominal price of Rs.125 each.
Mail us at: subjects4u@gmail.com or contact at
09882243490