WINTER 2014

MBA SEMESTER II
MB0049 - PROJECT MANAGEMENT
Q1. Explain the phases of project management life cycle.
As in the case of a product that passes through various stages (introduction, growth, maturity,
and decline) during its lifetime; project management also passes through a number of phases.
The various phases of a project management life cycle are depicted in Figure. Get complete

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Q2. Write short notes on:

Economic feasibility of a project

Need for project planning
Diversity management
Rules for network construction

Economic feasibility of a project: Economic feasibility evaluates cost-benefit ratios of the different
technological options available and projects the rate of return for the projects expected lifespan.
Financial feasibility deals with all of the potential costs associated with the project. A detailed
feasibility analysis is the most important output from the initiation phase of scope management.

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Q3. What are the key steps for effective risk management? Explain any FIVE risk identification
techniques.
The key steps for effective risk management are:
Creation: To create a risk management plan, you must carefully select appropriate controls

and counter measures to quantify each risk. Risk mitigation must also be approved by the
suitable level of management as per the level/domain of risk.

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Q4. Write a short notes on

Parametric estimating tool of cost estimating

Procurement process
Project teams responsibilities in project execution
Project termination

estimating: It is a technique that makes use of a statistical

relationship between historical data and other variables (e.g., square footage in construction,
lines of code in software development, requisite labour hours) to compute a cost estimate for a
schedule activity resource. This technique can generate higher levels of accuracy depending
upon the sophistication, the underlying

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Q5.What is Quality planning? Explain the inputs, tools and techniques and outcomes of quality
planning.
Quality planning is the process of identifying the quality standards that are related to the project
and determining how to these standards can be achieved.
It is one of the significant processes of project planning and should be performed on a
continuous basis and in parallel with the other project planning processes.

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Q6. Describe the various types of project performance evaluation techniques. List any FOUR benefits
of performance measurement and evaluation.
The following are the types of project performance evaluation techniques:
(i) Process (or implementation) evaluation: It is also called formative evaluations which are
designed to improve the implementation of a program, policy or strategy as it unfolds. In this
type of evaluation we measure the level to which a program is effective as it was planned. It
usually considers the program activities conformance to statutory and regulatory requirements,
program design, and professional standards or customer expectations.

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