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ASSIGNMENT
DRIVE WINETR SPRING 2014
PROGRAM MBADS (SEM 4/SEM 6) MBAFLEX/ MBAN2 (SEM 4)
PGDPMN (SEM 2)
SUBJECT CODE & NAME PM0015 – QUANTITATIVE METHODS IN PROJECT
MANAGEMENT
SEMESTER 4
BK ID B1344
CREDITS 4
MARKS 60
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.
1 Write short notes on:
 Q sort method of project selection
Answer : A method for analyzing the opinions of a group based on a series of rankings (sorts)
produced by the individual group members. The Q sort was originally developed within the field of
psychology as a means for measuring correlations among the views expressed by different people.
The letter Q was assigned to differentiate the method from another approach used in psychology,
known as the R method, for analyzing correlations among various factors (e.g., height versus age).
The Q sort, in contrast, is based on
 Basic components of a network
Answer : A computer network is a data communications system that interconnects computer
systems at various different sites.
In this learning module we are going to learn about the pieces that make a network , some of which
you are familar with:

2.  Project cost
Answer : Project cost management (PCM) is a method that uses technology to measure cost and
productivity through the full life cycle of enterprise level projects.
PCM encompasses several specific functions of project management including estimating, job
controls, field data collection, scheduling, accounting and design.
Beginning with estimating, a vital tool in PCM, actual historical data is used to accurately plan all
aspects of the project. As the project
 Resource smoothing
Answer : A scheduling calculation that involves utilising float or increasing or decreasing the
resources required for specific activities, such that any peaks and troughs of resource usage are
smoothed out. This does not affect the overall duration. It is also known as time limited resource
scheduling.
What is the difference between 'resource smoothing' and 'resource scheduling'?
Resource smoothing is used when the
2 What are the three methods for determining the forecasted cost at completion? Explain.
Answer : Three methods for determining the forecasted cost at completion :
1) General time forecasting formula
2) General cost forecasting formula
3) Performance factor
1) Cost forecasting EAC
Forecasting the final cost of the project is key to the success or failure of a project since it allows to
take corrective actions when the predicted EAC exceeds a certain threshold. This forecast is based
on the actual costs already spent and a prediction of the future spendings for the remaining portion
of work to be done. The general forecasting formula is equal to:
EAC = AC + PCWR
3 Describe the different stages in Project management.
Answer : Whether a project is large or small, the stages of a project are ultimately the same. Initiate
the project, and then move into planning, followed by execution. Once the project is in the
execution stage, you'll monitor and control it, which will continually influence changes that loop
back to the planning stage as necessary. Once all project tasks are complete and approved, you will
finally be ready to close the project.
4 Write short notes on:

3.  Linking of tasks in MS Project
Answer : Link tasks in a project
You can link any two tasks in a project to show their relationship (also called a task dependency).
Dependencies drive the project schedule — once you link the tasks, every change you make to the
predecessor affects the successor, which
 Setting resource calendar in MS Project
Answer : You can apply different, customized calendars to individual tasks and individual resources.
In most cases the base calendar is the calendar that describes the standard working times for most
resources in your organization. As you know, the base calendar contains standard working times that
designate the beginning of the work day at 8:00 A.M., ending at 5 P.M., and allowing employees a
one-hour break for lunch. If you want to
 Network diagram chart
Answer : The Network Diagram view was called the PERT Chart in earlier versions of Project. This
view shows the dependencies between tasks in a graphical manner. A box (also called a node)
represents each task, and a line connecting two boxes represents the dependency between those
tasks.
The Network Diagram view is just one of
 Updating the project in MS Project
Answer : You can quickly update your project's tasks to 100% complete or the scheduled percent
complete.
For example, your project is going well and most of your tasks are on track. Rather than updating
each task in your project daily, you update the tasks to their scheduled percent complete weekly,
and then modify the percent complete for those tasks that are either behind or ahead of schedule.
5 Discuss consolidating several projects in MS project.
Answer : Projects can get of hand quickly. Before you know it, a simple building project becomes a
collage of smaller projects, such as design, excavation, foundation work, and marketing. You can
have more control over your project by creating smaller projects in Microsoft Office Project 2007
and then linking them into a single file to show where they fit in your master project.
6 Describe how you can choose an appropriate forecasting model.

4. Answer : In virtually every decision they make, executives today consider some kind of forecast.
Sound predictions of demands and trends are no longer luxury items, but a necessity, if managers
are to cope with seasonality, sudden changes in demand levels, price-cutting maneuvers of the
competition, strikes, and large swings of the economy. Forecasting can help them deal with these
troubles; but it can help them more, the more they know about the general principles of forecasting,
what it can and cannot do for them currently, and
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call us at : 08263069601
(Prefer mailing. Call in emergency )