Feb 2011

Master of Business Administration-MBA Semester 4 Project Management PM0006 - 2 Credits Assignment Set- 1 (30 Marks)
Note: Each question carries 10 Marks. Answer all the questions. Q.1 Describe the process of setting up of a common resource. Answer: The management of resources is a major feature of MS Project. It is possible to see how each one is being used and determine the times when they are under or over utilised. The system can adjust the project to eliminate over allocation of a resource. We can think of resource data being stored in a database, which is the partner to the task database. The Microsoft Project system merges the data in the two databases to provide the facilities that are available. When a large pool of resources is built for example, 200 employees the best place to enter this information is in the Resource Sheet. If there are only a few resources working on the project, however, anybody might enter them on the fly using the Resource Assignment dialog box. Reviewing and Navigating the Resource Sheet The Resource Sheet contains an array of required fields for entering resources. A Resource Sheet is illustrated below:

Figure : Reviewing and Navigating the Resource Sheet Entering the Resources There are two separate stages in adding Resources to be managed by the system. They first must be entered in the Resource Sheet to identify them as being available. Secondly the available resources are associated with the respective tasks. Adding Resources to the Resource Sheet You add resources to the Resource Sheet in rows. The columns identify the fields. The table below summarizes the information that you can store in the Resource Sheet. Field Resource Name Initials Group Description The name given to a resource. It can be the name of an individual or a type of group. The abbreviated name for the resource. A resource can be placed in a group, which can be used by a filter to show only group members, it is also possible to use the group name to view all members

Max. Units

of the group together. The percentage (number) of resource units available. This is applicable only if using a type of resource. For example, you might have three technicians, but you can have only one Emma Cheesman. The standard cost of the resource per hour, week, or month.

Std. Rate

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Q.2 Write a short note on MS projects and explain in brief some of the important terminologies used in MS Project. Answer: MS Project is an application which the general MS Office users think to be another common Office application. However, it is very much different from the common Office applications and in some ways, it seems to do things on its own. MS Project is the most narrowly focus of all the Office applications. While the other Microsoft office programs tend to broad and general in their application, MS Project is designed exclusively to manage resource usage and project scheduling. MS Projects help to keep track of the progress of the tasks. It also helps to figure out how much each of the resources is doing on a project. MS Project is a tool to help you to plan projects, manage and update project information, and communicate the status once the project is under way. The details of the project tasks and associated resources are entered into the system as a new project. The system will then display the data in such a way that the relationships of the tasks and their time scales can clearly be seen and potential problem areas identified. Project data can be entered and/or viewed in a number of ways; the three principal formats are charts, forms, and sheets.

Charts can be either Gantt Charts or Network Diagram Charts both of which are a diagrammatic representation of the project data.

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Q.3. Describe the time series forecasting with the help of autoregressive modeling. What do you understand by managing cash flow? Answer: Autoregressive Modelling is one of the approach to the forecasting with annual timeseries data is basedon autoregressive modelling. Frequently, the values of a series of data at particular points in time are highly correlated with the values that precede and succeed them. A first-order autocorrelation refers to the magnitude of the relationship between the values that are two periods apart. A p-th order autocorrelation

refers to the size of the correlation between values in a timeseries that are p periods apart. To obtain a better historical fit of the data and, at the same time, make useful forecasts of their future behaviour, it is possible to take advantage of the autocorrelation inherent in such data by considering autoregressive modelling methods. The following equations describe a set of autoregressive models First Order Autoregressive Model Complete answer after payment, visit www.studenthelp.tk

Feb 2011

Master of Business Administration-MBA Semester 4 Project Management PM0006 - 2 Credits Assignment Set- 1 (30 Marks)
Note: Each question carries 10 Marks. Answer all the questions. Q.1 Explain Relationship between PERT & CPM. Also describe the framework required for PERT & CPM Answer: PERT and CPM are the project management techniques created for the need of the Western and Military Establishments to plan, schedule and control the complex projects. CPM/PERT developed along two parallel streams one industrial and the other military. CPM was first introduced by M. R. Walker and J. E. Kelly. This computation was designed for the UNIVAC-I computer. The first test was made in 1958, when CPM was applied in the construction of a new chemical plant. In March 1959, the CPM was applied in the planned shutdown at the Du Pont works in Louisville, Kentucky. The introduction of CPM greatly reduced the unproductive time from the 125 hours to the 93 hours. Complete answer after payment, visit www.studenthelp.tk