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32461068 Mb0033 Project Management Set 1

32461068 Mb0033 Project Management Set 1

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Published by: sanjeevsmumba on Jul 20, 2010
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10/15/2011

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ASSIGNMENTS- MBA Sem-II
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SET 1PROJECT MANAGEMENTQ.1
:-
Define project management, resource, process and project cycle. Explain the life-cycleof a project.Ans:
-
Project management: It is an art of controlling the cost, time, manpower, hardware andsoftware resources involved in a project. As ³the application of knowledge, skills, tools andtechniques to project activities to meet project requirements´. Project management is accom- plished through the application of and integration of the project management processes of in-itiating, planning, executing, monitoring and controlling, and closing. The project manager isthe person responsible for accomplishing the project objectives
.
Need for project management
: Project management is necessary because: between the four constraints is to make an accurate assessment of the resources required, and thcosts thereof. At this stage, we shall broadly classify the resources required under four categories.(a)
Manpower
refers to all the man hours required from various personnel working directlyor indirectly on the project.(b)
Materials
refer to all materials that become part of the project. In the case of a buildingthis will include cement, steel, aggregates, doors & windows, mechanical electric-al/instrumentation equipment and materials, finishing materials like tiles water proofing,ironmongery, consumables utilized in the construction etc. In summary all materials that become part of the building structure.(c)
Tools and Plants
are those items that are deployed to aid the construction of the projectlike lifting equipment (cranes etc.), concreting equipment, welding machines, dozers,transport vehicles and all machineries deployed as construction aids. They do not become part of the project, they are utilized for the implementation(a) A project requires huge investments which should not go waste(b) A loss in any project would have direct or indirect impact on the society(c) Prevent failures in projects(d) Scope of the project activity may undergo a change(e) Technology used may change during the course of project execution(f) Consequences of negativity in project related problems could be very serious(g) Changes in economic conditions may affect a project
Resource :
We discussed earlier that the most important step to arrive at the relationship
 
ASSIGNMENTS- MBA Sem-II
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of the project, and they are transferred to other projects after such utilization for the ongoing project. The owner may own some of these tools and plants in which case he will need tapportion an internally predetermined hiring cost of the same to the project. For the tooland plants deployed for the project and not owned by the owner, hiring costs charged by theexternal agencies shall be apportioned to the project.(d)
Infrastructure
refers to temporary arrangements that need to be provided for projecimplementation and dismantled at the end of the project. Examples are labor camps, electric power and water supply systems built for the construction of the project, dedicated tele-communication facilities during construction at project sites etc. Each one of the above-mentioned resources has a cost associated with it and the sum total of these costs will form a part of the project cost.It should however be noted that several additional cost elements contribute to the tota project cost like financing costs, insurance costs, overheads etc
Process
: PMBoK organizes Project management processes into five groups, defined as the ProjectManagement Process Groups, each group comprising one or more processes. This grouping helps iunderstanding the relevance and significance of the sequence of, and interaction between the var-ious processes in project management. However, a process group is not a totally discrete phasoccurring in isolation from another process group, and the processes have inherent interaction between themselves throughout the implementation of a project. We will briefly define thes process groups as under, while a more detailed explanation of each process group follows subse-quently.
Initiating process group
defines and authorizes the project or a project phase.
Planning process group
defines and redefines objectives and plans the course of actionrequired to attain the objectives and scope that the project was undertaken to address.
Executing process group
integrates people and other resources to carry out the projecmanagement plan for the project.
Controlling process group
regularly measures and monitors progress to identify variancesfrom the project management plan so that corrective action can be taken when necessary tmeet project objectives
Closing process group
formalizes acceptance of the product, ser-vice or result and brings the project or a project phase to an orderly end.Broadly, the process groups tend to be deployed in the sequence listed as the project progresses. Ithe event that a project goes off-course, re-planning comes into play, and if a

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