The document outlines assignment instructions for MBA students, detailing specific tasks related to project management concepts such as organizational objectives, budgeting techniques, and project estimation methods. It emphasizes the importance of operational feasibility and addresses project management challenges faced by a manufacturing company. Additionally, it discusses the significance of quality costs and scope creep within project management.

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Assignment
DRIVE SRING 2016
PROGRAM MBADS (SEM 3/SEM 5)MBAFLEX/ MBA (SEM 3)PGDPMN(SEM 1)
SUBJECT CODE & NAME PM0011 – PROJECT PLANNING ANDSCHEDULING
BK ID B1937
CREDIT & MARKS 4 CREDITS & 60 MARKS
Question. 1. Write short notes on:
Hierarchy of organisational objectives
Answer:Hierarchy of Objectives:The hierarchy of objectives is a tool that helps analyze and
communicate the project objectives. It organizes these objectives into different levels of a hierarchy or
tree. Different organizations use different names for the various levels and the types of objectives at
each level,butotherwisethere isagreatdeal of similarityinapproach.
Thisapproach organizesobjectivesintothreebroadlevels:
 Policy
Porter model a tool for identifying investment opportunities
Answer:Michael Porter’s Five Forces is a model used to explore the environment in which a product or
companyoperatestogenerate competitive advantage.

2. Michael Porter (Harvard Business School Management Researcher) designed various vital frameworks
for developinganorganization’s
Design phase of project management life cycle
Answer:Up to now, the project team and the client have focused on high-level questions regarding the
project. These start with simple questions like "why is this solution important?," "what is the business
value?" and "what are we going to deliver?" In the Design Phase, these questions are taken to a lower
level of detail,andyoustart to askthe "how"questions.The bigone is"how will we buildthissolution?"
At this point, the project team should have a complete set of requirements to work from, a set of
direction-setting strategies and a Conceptual Systems Design. The design process comes next. Even if
the projectwas small andthe requirementswere
Question.2 Budget Estimation 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 ofexperience ofand 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:
Which project estimation approach should be used by the company
and why?
Bottom-up estimating(alsocalleddetail or resource-drivenestimating)

3. Bottom-up estimating is an extremely helpful technique in project management as it allows for the
ability to get a more refined estimate of a particular component of work. In bottom-up estimating, each
task is broken down into smaller components. Then, individual estimates are developed to determine
what specifically is needed to meet the requirements of each of these smaller components of the work.
The estimates for the smaller individual components are then aggregated to develop a larger estimate
for the entire taskas a whole.Indoing
Question.2. What type of project organisation structure should be
used by the company and why?
This is one of the main benefits of projectized organized structure, as they are adaptive and learn from
theirownas well asfromothers’experiences.
In projectized organizations, most of the resources are utilized in the project work. Projectized
organizations are only interested in the project work which they get from external clients. Usually they
have some small departmentssuchasAdmin,
Question.3 What is the importance of operational feasibility? Explain
the factors that affect operational feasibility.
Answer:A feasibility study aims to objectively and rationally uncover the strengths and weaknesses of an
existing business or proposed venture, opportunities and threats present in the environment, the
resources required to carry through, and ultimately the prospects for success. In its simplest terms, the
twocriteriato judge feasibilityare costrequiredandvalue tobe attained.
A well-designed feasibility study should provide a historical background of the business or project, a
descriptionof the productor service,
Question.4. Write short notes on:
Crashing
Answer:It is the process by which duration of project is reduced by INCREASING the amount of
RESOURCES allocated. It is important to note that crashing is done only to CRITICAL activities. This can
be achievedbyanyof the followingapproaches:
1) Addressing productivity issues of the current resources and making them more efficient. This can be
done bytakingbettercare of resourcesava

4. Precedence diagramming method
Answer:The precedence diagram method (PDM) is a tool for scheduling activities in a project plan. It is a
method of constructing a project schedule network diagram that uses boxes, referred to as nodes, to
represent activities and connects them with arrows that show the dependencies. It is also called the
activity-on-node(AON) method.
 Critical tasks,
Resource allocation
Answer:Resource allocation is the assignment of available resources to various uses. In the context of an
entire economy, resources can be allocated by various means, such as markets or central planning. In
project management, resource allocation or resource managementis the scheduling of activities and the
resources required by those activities while taking into consideration both the resource availability and
the projecttime.
In economics,the areaof public
Scope creep
Answer:Scope creep (also called requirement creep, function creep and feature creep) in project
management refers to uncontrolled changes or continuous growth in a project’s scope. This can occur
when the scope of a project is not properly defined, documented, or controlled. It is generally
consideredharmful.
Question.5 What do you understand by cost of quality? Elaborate on
various types of costs of quality associated with a project.
Answer:In process improvement efforts, quality costs or cost of quality is a means to quantify the total
cost of quality-relatedefforts and deficiencies. It was first described by Armand V. Feigenbaum in a 1956
Harvard BusinessReviewarticle.

5. Prior to its introduction, the general perception was that higher quality requires higher costs, either by
buying better materials or machines or by hiring more labor. Furthermore, while cost accounting had
evolved to categorize financial transactions into revenues, expenses, and changes in shareholder equity,
it had not attempted to categorize costs relevant to quality, which is especially important given that
mostpeople involvedinmanufacturingneverset
QUESTION 6. What do you understand by project scope? What are the
various components ofproject scope? What is scope creep? Explain
various reasons for scope creep.
Answer: Scope creep can mean many things depending upon context so it is probably best that I start by
explaining my definition. For the purposes of this article, scope creep is the process by which a project
growsbeyonditsoriginallyanticipatedsize.
I’d be willing to bet that most people who read that sentence are likely to conjure up images of
unscrupulous clients seeking to take advantage of well-meaning service providers, but scope creep is
more oftendownto misunderstandingthananythingelse.
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Send your semester & Specialization name to our mail id :
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