Professional Documents
Culture Documents
Ans.1
(a) PERT Model: In a PERT network model, each activity is represented by a line
and each milestone is represented by a node. The programme evaluation review
technique is a network model that allows for variations in activity completion times.
Milestones are numbers so that the end node of an activity has a higher number
than the start node. Incrementing the numbers by 10 allows for additional nodes to
be inserted without modifying the numbering of the entire network. The activities
are labelled alphabetically, and the expected time to require for each activity is also
indicated. The Critical path is the pathway through the project network that takes
the longest to complete, and will determine the overall time required to complete
the project. In complex activity there can be more than one critical path through the
network and that critical path can change.
(b) CPM model: The critical path method is a mathematically based algorithm for
scheduling a set of project activities. It is an important tool for effective project
management as it is commonly used with all forms of projects, including
construction, research projects, science projects etc. Any projects with
interdependent activities can apply this method of scheduling. CPM determines the
critical activities on the longest path. It helps in fast tracking of more than one
activity in parallel. It is the sequence of activities which add up to the longest
overall duration. It is the shortest time possible to complete the project. Any delay
of an activity on the critical path directly impacts the planned project completion
date. A project can have several parallel near critical paths. An additional parallel
path through the network with the total durations shorter than the critical path is
called a sub-critical or non-critical path.
Ans.2
In a project-type organisation structure, the employees work for different
projects in a team like structure as the teams are put together for a project.
In project type organisational structure, each project is handed like a small
company. All the essential resources needed to execute projects are procured for full
time till the project closes out. Employees have specialised knowledge and exposure
to similar project environment will b appointed on contractual terms to work in a
group and deliver the project expectations.
Advantages:
Clear line of authority: The project manager has complete authority over the
project. All the members of the project team are responsible only to the
project manager.
High level of commitment: The project team has a separate and strong
identity, and all members are committee to the project and to each other
strongly.
Swift decision making: Because the authority is only with the project
manager, the capacity to make swift decisions is increased.
Stretching out work during slow periods: During slack times, team members
may not work at high level of productivity.
Construction projects
IT projects
Ans.3
(A) Steps involved in competitive bid are:
1. The bid or tender is invited from a required number of suppliers.
2. The bid received in prescribed condition is accept end held in safe custody.
3. The bids are opened and made public at the stated time and place in the
presence of the bidders who are present.
If the price quoted by the lowest bidder(s) when compared with the estimated
price is reasonable, the lowest bidder is selected. The estimated price could
be based on past experience, price of similar products, own estimates, and
knowledge of factors influencing the price.
If the lowest bidder are more than one and their prices are reasonable, the
purchase manager may take one of the following actions to resolve the ties:
1. Divide the order among the lowest bidders.
2. Request the lowest bidder to review and resubmit their bids.
3. Analyse the cost factors such as quality rating, payment terms, and firm
price period and non-cost factors such as lead time, past experience, and fit
with the company and hoose the supplier.
If there is a large variation between the lowest and the highest prices or if
there is a negligible variation among the prices quoted by the suppliers
suspecting collusion, then the purchase manger can discuss with the
suppliers or cancel the bid altogether and go for fresh bidding.
(B) Following are the key elements to be kept in mind in the design,
development and operation of PMIS:
The PMIS should support the full range of the life cycle including project
analysis and post project review.
PMIS include all information coming from a various sources including formal
reports, informal sources, observations, project review meetings and
questioning.
Ans.4
(a) The projects final report helps in finding the solution to what went wrong and
what should be fixed next time and how. Final report all deals with the final details
of the project and presents a normal ending for all the procedures, which includes
the delivery of the final product.
(b) The suggested contents of projects final report are:
Ans.5
(1) ROLE OF RISK MANAGEMENT IN OVERALL PROJECT MANAGEMENT:
Risk analysis and management is a process which enables the analysis and
management of the risks associated with a project as it will increase the
likelihood of successful completion of a project to cost, time and performance
objectives. Organisations can generate a lot of profit if they deal with
uncertain project events in a proactive manner by delivering it that project on
time, on budget, and with proper quality if you are able to manage the risks
properly. The proper risk management can increase the productivity and
efficiency of the project team.
A project life cycle includes he key phases like initiating, planning, executing,
controlling and closing. The probability of project risk depends on the project life
cycle.
(2) QUALITY ASSURANCE: Quality assurance means all the systematic and
planned activities executed within the quality system give confidence that
the project will meet the applicable quality standards. It also comprises the
examination of data at stations and centres to validate the data are in line
with the quality system goals, and to identify errors so that the required
action could be taken on time. We can apply quality assurance in real time
pot measurement and can also feed into the quality control process for the
subsequent process of a quality system, but usually it tends to operate in
non-real time.
Quality assurance tests make use of a system of metrics to decide whether or not
the quality plan is progressing in an acceptable manner. You can measure project
quality with the customer satisfaction effectively by using both qualitative and
quantitative metrics.
Ans.6
Common features of project management software:
1. Data entry features:
Human resource
Labour cost
Activity identifier
Activity description
Precedence relationship
2.
6. Project schedule: network (based on AON systems) linked Gantt chart and
work to list.
7. Cost related report:
8. Progress report: overall project, milestone chart, critical path chart showing
responsibility of department/function to carry out particular activities.
9. Updating: updating is the process of producing a fresh set of schedule.
10.Import/ Export: the process of bringing information into the PM software
from other application such as word processing, spread sheet etc is called
importing.
11.Project monitoring and tracking: tracking the progress about schedule
and cost is an important aspect of project management.
12.What if analysis: This is a useful feature of PM software. This permits to
know the effect of changes in project. Variable ( people, cost and change in
scope) on project objective.