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Assignment
DRIVE FALL 2014
PROGRAM MBADS (SEM 3/SEM 5) MBAFLEX/ MBA (SEM3) PGDPMN(SEM 1)
SUBJECT CODE & NAME PM0011 – PROJECT PLANNING ANDSCHEDULING
BK ID B1937
CREDIT & MARKS 4 CREDITS & 60 MARKS
1 Write short note on:
(a)Project deliverables: Deliverable is a term used in project management to describe a tangible or
intangible object produced as a result of the project that is intended to be delivered to a customer
(either internal or external). A deliverable could be a report, a document, a server upgrade or any other
buildingblockof anoverall
(b) Project Rating Index (PRI): The PDRI is intended to evaluate the completeness of scope definition,
specifically on industrial construction projects, at any point prior to the time a project is considered for
authorization to perform detailed design and construction. This paper will highlight the importance of
scope definition and its direct impact on project success, specifically focusing on how recent industry
trendsare changingthe traditional projectenvironment.
(d) Scope change control: A scope change is any modification to the agreed-upon project scope a
defined by the approved WBS. Scope changes often require adjustments to cost, time, quality, or other
project activities. These are fed back through the planning process, technical and planning documents
are updated as needed and stakeholders notified as appropriate.A scope change is related to cost ,time
and qualityof project.Tomake projectplanning

2. (d)Partnering: Partnering is described as establishing a long term win-win relationship based on mutual
trust and teamwork, and on sharing of both risks and rewards. Partnering arrangement can be between
laborand management,
2 BudgetEstimation of ABC Company Ltd.
ABC Company Ltd., established in 1985, is engaged in the manufacturing of leather accessories. Over
the years, the company, which started out as a local firm,has made its mark as an international
corporation. However,the company is still working as a traditional set up.
The high quality and durability of products have increased the demand of the products in the market.
As the production of the organisation is being increased to meet the demand, the traditional set up is
creating hurdlesin the production process.
Organisation conflicts have arisen among the team members because of the unorganised hierarchical
structure of the company, which is affecting the output of the organisation. Now that the
management has decided to expand the business and opened up branches abroad, the company is
facing two more problems. The first problem is in budgeting as the company is unfamiliar with
international market conditions, strategy, and business policy while the second problem is conflicts at
the time of team formation due to lack of experience of and exposure to multinational work culture,
which has further affectedthe output of the company.
The company can estimate the budget through two methods, the bottom - up approach and the top -
down approach. The bottom -up approach is generally followed by the MNCs as it is more accurate
and reliable.
Mr.Parag has been appointed as the country head of the company and he has also been assigned the
responsibilityofincorporatingthe advanced projectset up in the organisation.
Questions:
Whichproject estimationapproach shouldbe usedby the company and why?
Bottom-up estimating(alsocalleddetail or resource-drivenestimating)
The estimator breaks a project into distinct line items, and then breaks those line items into smaller,
distinct line items, and so on, until he or she arrives at the component (or resource) level – the level of
detail atwhichthe price of the componentsisrelativelyconsistentacrossprojects.
Top-downestimating(also calledparametric estimating)
This approach typically relies on cost histories from past projects, and knowledge of the specific
parameters of those projects. Using the previous example, reviewing previous bridge projects to
determine that there are correlations between the cost of the bridge and key factors like size and the
primarymaterial usedgivesthe estimatorvaluable data.

3. In other words, all things being equal, if the new bridge is 10% larger than the previous bridge, its top-
down cost estimate might be 10% higher. While this approach can be fast, it is less likely to uncover
potential cost-eatingdangerslike challengingsiteconditionsorfluctuationsinraw material costs.
The practical reality is that both approaches are likely to be used by most companies and on most
projects. Top-down may be the only approach possible for a conceptual estimate for an early-stage
project. And even later-stage estimates might involve a mix of items, some estimated top-down and
othersbottom-up.
2. Whattype of project organisationstructure should be usedby the company and why?
Answer:
 Flat Organizational Structure: Many small companies use a flat organizational structure, where
very few levels of management separate executives from analysts, secretaries and lower-level
employees. Flat organizations work best when a company hasless than 20 employees, especially
if the companyemploysone ortwo employeesperdepartment.
 Functional Organizational Structure: A functional organizational structure is centered on job
functions, such as marketing, research and development and finance. Small companies should
use a functional
3 What is the importance of operational feasibility? Explain the factors that affect operational
feasibility.
Answer: Operational feasibility is as important as technical feasibility (or any other kind of feasibility for
that matter), and yet it can be the first thing to get brushed under the carpet. The conversation changes
and that ‘intelligent system’ everyone was discussing is transformed back into a mere ‘thing’: a
deliverable to drop into the organisation. We’ll find out later if we can make it happen; if we can weave
it intodepartmentsandheartsassuccessfullyaswe canplugit intosoftware platforms.
Working Lean means minimising waste. And operational feasibility should surely be fed into product
developmentcycleslike anyothercritical
4 Write short noteson
(a) Monte Carlo analysis: A problem solving technique used to approximate the probability of certain
outcomes by running multiple trial runs, called simulations, using random variables. Monte Carlo
simulationis
(b) Work break down structure: A work breakdown structure (WBS), in project management and
systems engineering, is a deliverable-oriented decomposition of a project into smaller components. A
work breakdown structure element may be a product, data, service, or any combination thereof. A WBS
alsoprovidesthe necessary

4. (c)Resource loading: Resource loading mainly involves your manpower or employees. In resource
loading, each employee is assigned a task or a percentage of a project (X percent of the whole). Usually,
it's 25 percent of the whole. Then the employee is assigned other tasks until he or she reaches 100
percentbooked.Thiswouldthenmean
(d) Definitive estimate (amethodto estimate cost of a project):
"A definitive estimate is prepared from well defined data, specifications, drawings, etc. This category
covers all estimate ranges from a minimum to maximum definitive type. These estimates are used for
bidproposals,
5 What do you understand by cost of quality? Elaborate on various types of costs of quality associated
with a project.
Answer: The term “quality costs” has different meanings to different people. Some equate “quality
costs” with the costs of poor quality due to finding and correcting defective work. Others equate the
term with the costs to attain good quality. Others use the term to mean the costs of running the quality
department.Inmysite,the term"
6 Explain some of ISO standards that should be considered by the project manager during project
execution.Listthe advantages of projectmanagement software.
Answer: Management system standards: ISO management system standards provide a model to follow
when setting up and operating a management system. Like all our standards, they are the result of
international, expert consensus and therefore offer the benefit of global management experience and
good practice. These standards can be applied to any organisation, large or small, whatever the product
or service andregardlessof the sectorof activity.
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
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