1st Answer

Total budget of the project = Rs. 2, 40,000

Project was planned to be completed in = 12 months.

So, the monthly budget of the project = Total budget / Planned duration of the project

= 2, 40,000 / 12

= 20,000

Since the project is reviewed after eight months, the planned value for eight months is

Monthly Budget * Number of months completed = 20,000 * 8 = Rs. 1, 60,000

Actual budget spent on the project in eight months = Rs. 1, 20,000

Since 48% of the work is completed in eight months, the value of earned/completed
work is = Total budget * % of work completed.

= 2, 40,000 * 48/100

= Rs. 1, 15,200

Now, let’s calculate the cost performance Index: CPI is a reflection of how much work
has been completed/earned as compared to how much money has been spent on
completing the work. It indicates the value of performance against the cost of
performance.

Cost Performance Index = EV (Earned Value) / AC (Actual Cost)

CPI = 1, 15,200 / 1, 20,000 = 0.96

Hence, it can be said that the cost of performing the project in first eight months is more
as compared to the value of the work completed.

Now, let’s understand the scheduled performance Index: It indicates whether the project
is ahead, behind or on time as compared to the planned schedule. It helps to assess
whether the project will be completed in the given deadline or not.

Since the monthly value of the project was planned to be Rs. 20,000, and the project
was to be completed in 12 months, work worth Rs. 1, 60,000 (66.66%) should have
been completed in the first eight months.
However, work only worth Rs. 1, 15,200 (48%) was completed. This implies that the
project performance is far behind the planned schedule.

SPI = Earned value of work / Planned Value of work

SPI = 1, 15,200 / 1, 60,000

= 0.72%

Conclusion: Hence, it can be said that as compared to the planned schedule, only 72%
of the work was completed which is less and the project may take more than 12 months
to complete which may incur additional expenses or penalties for the company. Also,
the earned value of work is less as compared to the money spent on performing the
work which means the project cost would exceed the budget.
2nd Answer

A feasibility study needs to be conducted in order to analyze and assess the viability of
a residential project. When conducted correctly, the feasibility study uses objective
techniques in order to assess the advantages and disadvantages of the construction
project. Ultimately, the feasibility study brings to the light the various aspects of the
project that can put it at risk for scheduling delays, overruns of cost, problems in design,
and many other hidden issues. The inherent objectivity of the feasibility study enables
stakeholders to take informed and qualified decisions regarding the project – how to
improve it, what has to be changed, and the strengths of the project.

Technical Feasibility: The technical feasibility study refers to determining how well-
equipped key contractors, companies, and stakeholders are to render the technical
resources required for the residential project. This involves various aspects such as
transportation, materials, labor, design, and technological infrastructure. Are there
enough hard goods and materials readily available for the project duration? Is the best
residential construction technology being used? Is the team equipped with the technical
skills and experience to make use of latest technology? How are the materials and other
hard goods going to be transported? Is there any alignment between design, materials,
and skills?

Economic Feasibility: The ultimate objective of each and every construction project
must be earning profits in the right way. The project must be managed, correctly
scheduled, and budgeted in order to avoid cost overruns and financial loss. The study of
economic feasibility refers to a deep analysis of each and every aspect of the project,
which looks for areas where costs can be reduced without compromising on the quality.

Legal Feasibility: All contracts, regulations, and legislative aspects of the residential
project need to be assessed. Are the stakeholders, construction contractors, and
companies ready and well-prepared to comply with the legal agreements and
standards? Are there any updates that need to be made to legal contracts and
agreements?

Operational Feasibility: The operational feasibility assesses how well the proposed
residential project solves the challenges and fulfills the objectives. Each and every
construction project, be it a new building, societal complex, school, hospital, housing
subdivision, or shopping center is and must be a solution to a problem. For example,
the residential project must make it easier for everyone to commute and settle into the
city from the suburbs or to meet the residential requirements of a growing community.
The operational feasibility seeks a bigger view of the results of the project in order to
make sure that when completed as planned and budgeted, the recognized problems
and goals are accomplishable. Who will benefit from this project?

What are the expected objectives of the project? What are the short- and long-term
goals of the residential project? Does the project management team consist of the skills
and experience in order to achieve the goals of the residential project?
Scheduling Feasibility: A poorly planned residential project schedule causes delays,
cost overruns, and construction errors and even trust issues to people who have
already paid advances for their new homes. When deadlines are missed, often corners
are cut, last-minute changes are made to design, or more money is spent in order to
have the project back on-track. The best way to avoid this panicked approach to a
construction project is with independent oversight that views a deep look into the
scheduling of the project and project management. It’s necessary to remember that the
most balanced schedule will not work if the individuals executing the project don’t have
the skills and knowledge to manage the project.

While conducting the scheduling feasibility it’s a good thing to analyze the design,
architecture drawings, materials, budgets, environmental impacts, regulations, and risk
areas.

It’s also necessary to assess the residential project to ensure safety, impact on the
environment, the true advantages to the community, and the ability of the project team
to succeed in completion of the construction project on-time and within the allocated
budget.

A feasibility study enables to avoid the cost overruns of the construction by highlighting
to stakeholders of the project how and where the project has to be improved. The
results of objective feasibility studies involving the technical, economic, legal,
operational, and scheduling underscore and focus on what has to be done before
digging starts.

Conclusion: The main advantage of the feasibility study is in recognizing the threats
and areas of risk that may cause a delay in the project and lead to cost overruns.
Project stakeholders must perform the feasibility study and use the results in order to
determine how best to proceed with the residential project.
3rd Answer

A work-breakdown structure in project management and systems engineering, is a

deliverable-oriented breakdown of a project into smaller components. A work
breakdown structure is a key project deliverable that organizes the team's work into
manageable sections.

The scope of an Annual Day festival is the content of the annual day festival and the
work required to put it all together. The latter is known as the scope of the work. It is
important to understand the amount of work that has to be done to get the event
happening. Without understanding the scope the event manager cannot plan the event
let alone control all the myriad of changes that will happen. The tool to use is the Work
Breakdown Structure (WBS). The WBS is a method of breaking down or decomposing
all the work needed to create the event into manageable chunks. For example the work
for an annual day festival in the local park would be first divided into venue/location,
marketing, sponsorship, budgets, as illustrated below.

Annual Day

_____________________________________________

│ │ │ │

Venue Marketing Budget Entertainment

The following is the second level of WBS

Annual Day Festival

Site Marketing Budget Entertainment

Space Posters Approval Singing

Environment Announcement Cost of venue Dancing

Seating capacity Cost of organizing events Anchoring/hosting

The following is the 3rd level of WBS

Annual Day festival

 Marketing

Social Media/ In-house marketing.

__________________________________

│ │ │

Posters College Groups Facebook Pages.

From the WBS, various other aspect of the annual day festival can be created. For
example the person and team responsible for each of the areas of the annual day
should be written next to each of the work unit.

Names of team members can be put beside the site/venue department. They then
become responsible to finalize the venue/location considering the seating arrangement,
space, capacity and the cost. In this way all the work can be apportioned out to the
different teams. This helps us to know what needs to be done. These particular bits of
work that should be given to every person (or a subcontractor) are known as tasks.

Conclusion: Once the WBS is completed and some of the work is allotted to the
members of the event team, the next question to answer is 'When does all this work
needs to be finished?' It is pointless to have all the work listed if it doesn't complete in
time before the annual day arrives. To avoid the delay is the main objective of the time
management.

3b. What is the RACI model?

RACI is a legitimate gadget that explains individual or gathering position for each errand
in an arrangement or business improvement. It makes a straightforward language to
discuss jobs and errands inside a gathering. The bigger and extra complex the
business, the more it necessities and utilizations RACI. In any case, lesser, high-
development organizations go to RACI with an immense recurrence too as they battle
with the movement of development.

Prior to getting into progress to coordinate an arranging group, it is basic to perceive the
undertaking group's definition. Senior authoritative staff managerial, venture
supervisors, notwithstanding bunch pioneers, ought to perceive the definition in light of
the fact that quite a kind is needed for setting up participation, keeping up unremitting
preparing, set up beneficial interchanges, and continuing cooperation.
The Project group of 3 or 4 positions

Aside from the venture structure, size, and climate, each group has three jobs
characterized as unsurprising. These jobs are:

• Leader - An undertaking bunch pioneer is a person who gives the board and the
executives to the group and takes risk for the consequences of collaboration.

• Contributor - A task bunch giver is an individual or a gathering that partakes in

collaboration yet isn't associated with performing obligations and transport out
undertaking group duties. Donors' help improves advancement by giving esteemed
recommendations, master judgment, and conversation.

• Member - An undertaking group part is an individual who is associated with

doing apportion assignments. The group part straightforwardly permits the undertaking
and effectively develops its technique. They're subjected to the gathering chief.

Summary: This structure is known as gathering improvement stages. These periods

speak to the colleagues are working together, force and shortcomings of every player
are tried, agreeable to the gathering's framework and practices, filling in as a unit while
working autonomously and variable onto different groups.