This document contains an assignment for a project management course, including questions about project processes, work breakdown structures, sensitivity analysis, and defining steps in project identification. It provides short answer responses for some questions, and leaves space to answer three other questions about feasibility studies, elements of project schedules, and the applicability of sensitivity analysis to new projects.

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EXECUTIVE MBA
(POWER MANAGEMENT)
SEMESTER IV
YEAR: 2013
SESSION: JULY
ASSIGNMENT – 1
FOR
Project Management & Its Applications
(MBCQ 724D)
(TO BE FILLED BY THE STUDENT)
NAME:
_______________________
SAP NO/REGN NO:
_______________________
Section A (20 Marks)
Write short notes on any four of the following:
1.Project processes
Answer : Project Management Processes
The key project management processes, which run though all of these phases, are:
Phase management.
Planning.
Control.
Team management.
Communication.
Procurement.
Integration.

2. 2.Work Breakdown Structure (WBS)
Answer : A work breakdown structure (WBS) is a model of the work to be performed in a project
organized in a hierarchical structure. The WBS is an important tool which helps you keep an
overview of the project:
It forms the basis for organization and coordination in the project.
It shows the amount of work, the time required, and the costs involved in the project..
The work breakdown structure is the operative basis for the further steps in project planning, for
example, cost planning, scheduling, capacity
3.Client Kick-off Meeting
Answer :
4.Project Network
Answer :
5.Sensitivity Analysis
Answer : Some degree of uncertainty is inherent even in the most rigorous cost-benefit study. The
impacts of policies or programs may be difficult to measure or predict, and the value of those
impacts may be hard to monetize. Sensitivity analysis is a group of techniques that can be used to
examine the degree of uncertainty in a cost-benefit analysis (CBA) and how that affects a study’s
results. This document provides an overview of sensitivity analysis and describes four types: partial
sensitivity analysis, best-case and worst-case scenarios, break-even analysis, and Monte Carlo
analysis.
The purpose of sensitivity analysis
Section B (30 marks)
(Attempt any three)
1.Define project identification and discuss steps in project identification.
Answer : The first and one of the critical steps in the project cycle management is the identification
and selection process. This is an important stage such that it can affect the whole process including
that of sustainability of the project after completion and transferring to operational phase. However,
this stage is overlooked in some cases particularly in the process of capturing the actual needs of the
beneficiaries. Instead of demand driven approach some donors including international organizations
would like to follow supply driven approach. In the actual practice projects should be identified from
the perspective of the needs or demand of the

3. 2.Do you think that feasibility study is conducted before the business plan? If yes, give reasons.
Answer : Yes , a feasibility study is conducted before the business plan because it provides different
types of analysis which help in business planning .
1. Economic Analysis
I believe this is where your feasibility study should start from. What is the essence of carrying out
market research or even going ahead to start a business when the economy does not favour
entrepreneurship or private ventures? Analyzing the economy will help you align your planned
business with the economic situation on ground. Economic feasibility should include analysis on
government’s fiscal and monetary policies, import and export rate, inflation rate, tax rate, and
currency exchange rate and so on.
3.Describe the important elements of a project for which individual schedules are drawn. Why
preparation of engineering schedule can be taken up last of the three schedules?
Answer :
4.Explain the applicability of sensitivity analysis for developing new projects.
Answer : Sensitivity analysis is a strategy that is helpful in determining what could happen if a
specific variable within a projection fails to function as originally envisioned. The idea is to identify
possible deviations that could occur if one or more variables are changed or discarded, and how
those changes would affect the eventual outcome. From this perspective, this type of analysis makes
it possible to prepare for outcomes other than the desired goal, thus minimizing the ill effects if
those variables do fail to perform or influence as anticipated.