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MB0049 – Project Management

MB0049 – Project Management

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Published by R Abdullah Azad

MB0049 – Project Management

MB0049 – Project Management

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Published by: R Abdullah Azad on Feb 03, 2013
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05/14/2014

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MB0049 – Project Management
Q1. Discuss the various steps of PMIS planning. The success of a PMIS depends on its effective planning. The PMIS is used for manypurposes by a project manager like budget estimation of costs, creating a schedule, definethe scope, etc. Hence, these should be considered while planning for PMIS. The planning of PMIS includes the following steps:1. Identify the information needed2. Capture data3. Process data into information and store it4. Communicate information to stakeholdersIdentify the information neededIdentification of the information that is needed is necessary for improving thedecision making and the structure of the PMIS. information requirements of projectstakeholders include the recipients of information, the type of information that isneeded, which includes format, contents, and level of details, the time theinformation is required and how (by what media) will it be communicated to them.Capture data Term “Capture data" is used to state a process of preparing and collecting data i.e.,as element of a process improvement or similar project. The function of datacollection is to attain information to maintain record, to make decisions for vitalissues, and to pass information on to others. Data can come from actualobservation or from records. Data collected from records is known as secondarydata. Data collected from direct observation is known as primary data. It should beensured that all relevant groups are represented in the data. A formal datacollection process is essential as it makes certain that the gathered data are bothdefined and precise and that subsequent decisions based on opinion embodied inthe findings are valid. Data possibly be arranged in tabular form, data array orfrequency distribution.Process data into informationAn organisation, to achieve its aims, needs to process the data collected intomeaningful information. it should be presented in its most useful formats. Datamust be processed in a context to give it meaning. Data is transformed intoinformation using mathematical, statistical, or other tools including computersoftware. Information can be stored in electronic form or hard copies represented inthe most useful form.Communicate information to stakeholdersCommunication is the process by which information is exchanged betweenindividuals through a common system of symbols, signs, or behavior.
Q2. What are the different phases of contract management?
Contracting has three phases. They are:
 
Contract planning
Contract negotiations
Contract administrationContract planningContract planning should be done at the project schedule stage. The process of contract planning includes the preparation of resource plans. The following pointsshould be considered for preparing the contract planning:- Work Break Down (WBS) and packaging- Requirement of resources, mainly equipment and manpower for various workpackages- Type and numbers of contracts to be awarded and approximate to whom.- Technical, financial, and operational capabilities of the contractor- Scope of work for each contractual job- Method of contracting - lCB, LCB, open tender, limited tender, etc- Choosing among suitable and comparable parties- Obligations of both parties should be reasonableContract negotiations The negotiator brings the buyer and the seller face to face. All assumptions andparameters related to price are analyzed. Eventually, a more realistic pictureemerges, which is agreed to by both the buyer and the seller. The following aspectsshould be kept in mind at the time of contract negotiations.
Price-related terms: Price could be fixed or adjustable during the contractperiod. Fixed price is generally applicable under stable market.
Payment terms: Any of the payment terms which include advance, credit forspecified period, cash on delivery, and retiring document through bank maybe selected mutually.
Delivery conditions: These may include which mode to be used, how muchquantity to be delivered, and when. Agency for inspection: lt is to be agreedwhether inspection is to be done by a third party or by buyers or supplier'sown inspection.
Cancellation: Cancellation of contract may be done due to default by thevendor in failing to perform as agreed in contract while making deliveries,convenience of the buyers, or mutual consent. in a situation where the selleris not at fault, it is to be ensured that he or she does not
Suffer any loses.
Quantity: Quantity may be fixed or variable in case of variable quantity;
 The lower and upper bound needs to be specified.Contract administration
 
Various problems may arise during the execution of the contract such as:
Extra work including excess quantities of work
Deleted work including lower quantities of work
Non-compliance with specifications
Delays in time schedules
Late payments
 Taking over of completed works
Warranties
Contract close outAs and when the problems arise, they must be sorted out immediately based on theprovisions of the agreed contract.
Q3. Describe the process of project performance evaluation
It is very useful tool to find out the reasons behind a failure to achieve intendedoutcomes. The modifications that need to be made to a project can be determinedby following the below steps:Project identificationIdentification of appropriate projects (or project ideas) is the first and the mostimportant stage in project management. This is done through appropriate type of opportunity studies. Opportunity studies are indicative rather than detailed onesand are based on macro parameters and rough estimates. Such studies can begrouped into 3 categories:
Area studies: About a given geographical area
Sectoral studies: About specific economic sector such as power plants, foodprocessing, etc.
Resource-based studies: Studies about renewable and non-renewablenational resources, industrial products like minerals, etc.Pre-feasibility studiesAfter the identification stage, the project ideas are screened through pre-feasibilitystudies. Pre-feasibility studies are the intermediate studies between the opportunitystudies and detailed project report. This is basically carried out to check for theviability of the project and have a rough estimate of the cost of project andprofitability. An outline of a pre-feasibility study is given below:Executive summary
About the report
Project sponsor's background and history
Location and site, for example, the report recommends the location landsitealong with essential related activities and their cost estimates
Requirement of raw materials and their sources
Requirement of utilities and auxiliary services such as power, water, steam,compressed air, transportation, etc
Selection of the conversion process (technology)
Fixation of overall plant capacity based on technology selected

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