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Pm 0015 quantitative methods in project management
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ASSIGNMENT
DRIVE FALL 2016
PROGRAM MBA
SEMESTER IV
SUBJECT CODE & NAME PM 0015 – QUANTITATIVE METHODS IN PROJECT
MANAGEMENT
BK ID B2011
CREDITS and MARKS 4 CREDITS AND 60 MARKS
Note: Answer all questions. Kindly note that answers for 10 marks questions should be
approximately of 400 words. Each question is followed by evaluation scheme.
Question. 1. Explain Business Value Models in detail.
Answer: The following business models in detail in the following section:
Balanced scorecard model
The balancedscorecardmodel definesfourscoringareas for business value and was first published
by Robert S. Kaplan and David P. Norton in an article, “The Balanced Scorecard – Measures that
Drive Performance.”
Question. 2. What is parametric estimating? Explain the steps
involved in the development of a parametric model.
Answer: Parametric estimating is an estimating technique that uses a statistical relationship
betweenhistorical dataandothervariables,suchassquare footage inconstructionandlinesof code
in software development for calculating an estimate for activity parameters, such as scope, cost,
budget,andduration.Parametricestimatingcanproduce higher levels of accuracy depending upon
the accuracy and sophistication of the underlying data.
Describe the 7 steps involved in the development of a parametric model
2. Question. 3. What is Capital Budgeting? What aspects of capital
budgeting must be considered while selecting a project?
Answer: Capital budgeting, or investment appraisal, is the planning process used to determine
whether an organization's long term investments such as new machinery, replacement of
machinery,newplants,newproducts,andresearchdevelopment projects are worth the funding of
cash through the firm's capitalization structure (debt,
Question. 4. Explain the concept and application of Earned Value.
What is Time Centric Earned Value.
Answer: Current performance is the best indicator of future performance, and, therefore, using
trenddata, itis possible toforecastcostor schedule overrunsatan earlystage ina project.The most
comprehensive trend analysis technique is the
Question. 5. Explain Benefit-Cost Ratio Analysis and Break-Even
Analysis.
Answer: Break-evenanalysis,asubsetof cost-volume-profit(CVP) analysis, is used by management
to helpunderstandthe relationshipsbetweencost,salesvolume andprofit.Thistechniques focuses
on how selling prices, sales volume, variable costs, fixed costs and the mix of product sold affects
profit.Understandingsome of the basictenetsof CVPanalysiscan help you analyze these factors in
your business and make better business decisions.
Question. 6. What are the steps that should be followed to
construct a “house of quality”?
Answer: House of Quality is a diagram, whose structure resembles that of a house, which aids in
determininghowaproduct is living up to customer needs. Although quite intricate, it is capable of
storinga lotof informationandcomparinglarge amounts of data used for defining the relationship
between customer desires and the firm/product capabilities. It is a part of the Quality Function
Deployment (QFD) and utilizes a planning matrix
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