ASSIGNMNET

MB0049- PROJECT MANAGEMENT

NAME: JASRAJ SINGH GILL
ROLL NO: 1408008019

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.

Simple and flexible: Project-type organisations are structurally flexible and

simple, which makes them comparatively easy to implement.

Disadvantages of project-type structure:

Duplication of effort: Each project team is fully, which can result in a

duplication of effort in every area from clerical staff to technological support.

Cost inefficient: The project organisation structure can be cost efficient

because of underutilization of resources or stockpiling equipment for future
use.

Stretching out work during slow periods: During slack times, team members
may not work at high level of productivity.

Low level of knowledge transfer: There is low level of knowledge transfer

between projects as employees are committed to working only on one
project. So, there is o source of knowledge transfer and shared functional
expertise.

Job insecurity at the completion of a project, the employees may be fired if

there is no similar type of project.

Examples of project-type organisation

Rapid transit projects

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.

4. The information received from the bidders is tabulated on a comparative

statement which allows comparison of quoted prices, validity periods, and
other critical factors.
5. The comparative statement may present various situations which include:

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.

Enterprise guidance and project background information must be a part of

PMIS.

PMIS include all information coming from a various sources including formal
reports, informal sources, observations, project review meetings and
questioning.

The PMIS must interfere with larger organisational information system to

permit smooth, well-organised interchange of information in support of
organisational and project goals.

Only relevant information should be a part of PMIS.

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:

Evolution of project: Narrate the various activities undertaken from project

selection, planning, execution, control, and termination phase; problem faced,
what went well, what did not, and why.

Overall success of the project: some typical criteria to measure the

overall success of the project are given below:

1. Business objectives: Restate the business objectives as given in the business

case including any changes incorporated later. Comment on how far these
objectives have been or likely to be met.
2. Project efficiency: State the actual cost, resource, and schedule against the
plan.

Closure statement: State the circumstances under which the project is

being closed as one of the following:

1. The project has been successfully completed.

2. The project has been terminated prior to the completion, in this case,
describe the reason for termination.

Outstanding issues and deliverables: List any issues or key

deliverables not yet accepted. For each, give:

1. The nature of the issue and reason of non-acceptance.

2. Proposed resolution (include date, person responsible)

Managing of projects: How the projects different phases were

managed? Specifically, comment on the following aspects:

1. Quality of decision making (fact based, timeliness etc.)

2. Use of tools/techniques in selection, planning and control phase.
3. Use of best practices.

Lessons learnt and recommendations: A number of insights and

innovative methods have been adopted in tackling the various

problems. These should be recorded for posterity. Specifically, the

following aspects are to be covered:
1. What worked well and why?
2. Recommend methods, procedures, best practices and tools which can be
gainfully used in the future.
3. Identify the areas where time, money o resources could have been better
utilized.

Acknowledgement: Acknowledge all the individuals who have made

special contributors to the project.

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:

Project data and calendar

Human resource

Labour cost

Human resource available

Cost of construction materials

Activity identifier

Activity description

Precedence relationship

Data entry error

2.

Graphics: for a project involving in large number of activities, drawing a

correct network, manually takes a lot of time and effort. One of the important
features of PM software is its ability to generate a variety of charts including
network diagram, activity linked Gantt chart and Gantt chart quickly, further,
changes in base line plan are quite easy.

3. Time analysis: if there is unlimited and flexible resource or if resource can

be outsourced, the network may be prepared at the earliest start time of
activities. In the real world, many projects are managed on this basis.
4. Resource scheduling: Resource scheduling programs are of two type:

Resource levelling where unlimited and flexible resources are available.

Resource allocation problem where resources are limited.

5. Output reports: most Project management software packages have

extreme report generation capabilities. They can generate a range of reports
in various forms (graphical, tabular or textual).

6. Project schedule: network (based on AON systems) linked Gantt chart and
work to list.
7. Cost related report:

Budgeted vs. Actual cost

Resources utilisation 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.