MBA Assignment DPRM 4 SEM
SESSION FEB-MARCH 2025
PROGRAM MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER 4
COURSE CODE &
NAME
DPRM404 CONTRACTS MANAGEMENT IN PROJECTS
Assignment Set – 1
Q1. Explain the concept of Contract management. Also, outline in detail the significance
of Project Procurement Management.
Ans 1.
Concept of Contract Management
Contract management refers to the process of creating, executing, and monitoring contracts
made with customers, vendors, partners, or employees. It ensures that all parties to a contract
meet their obligations effectively and that business goals are achieved within agreed timelines
and budgets. The process includes drafting contract terms, negotiation, compliance monitoring,
amendments, and closure. Effective contract management reduces risks, promotes
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Q2. Detail the concept of Contract Lifecycle Management. Further to explain the
importance of Contracts in a Project. 3+7
Ans 2.
Understanding Contract Lifecycle Management (CLM)
Contract Lifecycle Management (CLM) refers to the systematic process of managing a contract
from its initial drafting to execution, performance monitoring, renewal, or closure. CLM
ensures that contracts are accurate, compliant, and aligned with organizational goals. It
involves various stages such as request, authoring, negotiation, approval, execution, obligation
tracking, amendment, auditing, and renewal or termination.
A robust CLM framework ensures transparency, standardization, and efficiency throughout the
Q3. Write a detailed note on the Bill of Materials. Also, discuss the various importance of
the Bill of Materials.
Ans 3.
Understanding the Bill of Materials (BOM)
A Bill of Materials (BOM) is a comprehensive list that outlines all the components, raw
materials, parts, assemblies, and sub-assemblies required to manufacture, build, or repair a
product. It acts as a blueprint for the production process and includes key details such as part
numbers, descriptions, units of measure, quantities, procurement source, and assembly
instructions.
BOMs are structured hierarchically. At the top is the finished product, followed by layers of
Assignment Set – 2
Q4. Explain the process of Contracting.
Ans 4.
Contracting
Contracting is the formal process of establishing a legally binding agreement between two or
more parties, typically a buyer and a seller, for the supply of goods or services. In project
management, contracting ensures that external vendors, suppliers, or consultants contribute to
the project under defined terms and conditions. The contracting process plays a vital role in
ensuring that project deliverables are met on time, within budget, and to the agreed quality
Q5. Illustrate the key considerations and practices for drafting contract terms. 10
Ans 5.
Key Considerations and Practices for Drafting Contract Terms
Contract Drafting
Drafting contract terms is a critical part of contract management that defines the rights,
obligations, expectations, and remedies for all parties involved. A well-drafted contract
minimizes ambiguity, prevents disputes, and ensures enforceability under law. The language
used must be precise, legally sound, and reflect a mutual understanding between parties.
Clarity and Specificity of Terms
One of the key considerations while drafting contract terms is ensuring clarity and specificity.
Q6. What do you mean by GOI GFR? Outline in detail the challenges of complying with
GFR.
Ans 6.
Meaning of GOI GFR and Challenges of Complying with It
GOI GFR
The General Financial Rules (GFR) issued by the Government of India (GOI) are a set of
instructions that govern the financial management procedures for all government departments,
public sector enterprises, and organizations receiving government funds. First introduced in
1947 and revised periodically—most recently in 2017—GFR lays down the framework for
efficient, accountable, and transparent public financial management. These rules are applicable
to procurement, budgeting, contract execution, inventory management, and disposal of assets.
GFR provides the legal and procedural foundation for public procurement and expenditure. It
SESSION FEB – MAR 2025
PROGRAM MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER 4
COURSE CODE & NAME DPRM403 PROJECT QUALITY MANAGEMENT
Assignment Set – 1
Q1. A company is planning to draft a policy statement for project quality management.
Help the company with the essential components of the policy statement.
Ans 1.
Project Quality Management Policy
A Project Quality Management (PQM) policy statement serves as a formal declaration of an
organization’s commitment to achieving and maintaining quality in its projects. It defines the
guiding principles, standards, and expectations related to quality assurance and control
throughout the project lifecycle. The statement not only reflects the organization’s values but
also aligns project goals with customer satisfaction and regulatory compliance.
Commitment to Quality Objectives
The first essential component of the policy is a clear commitment to quality objectives. This
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Q2. Describe the capital budgeting process and explain some techniques companies can
use to evaluate investment projects. 10
Ans 2.
Understanding the Capital Budgeting Process
Capital budgeting is a structured process used by companies to evaluate potential long-term
investment opportunities. These may include purchasing new equipment, expanding into new
markets, or launching a new product line. The goal is to determine whether such investments
will generate sufficient returns to justify their cost and risk. Capital budgeting ensures that
resources are allocated efficiently and align with the organization’s strategic goals.
The process typically begins with project identification, where investment opportunities are
Q3. Describe the Industry 4.0 trends in building organizational project management
capability.
Ans 3.
Industry 4.0 and Project Management
Industry 4.0, also known as the fourth industrial revolution, represents the integration of
advanced digital technologies into industrial and business processes. This includes innovations
like Artificial Intelligence (AI), Internet of Things (IoT), Big Data, Cloud Computing,
Robotics, and Automation. As organizations adopt these technologies, they are also reshaping
their approach to project management to become more agile, data-driven, and strategically
Assignment Set – 2
Q4. How a company building shipping vessels can reduce cost through the value
engineering process.
Ans 4.
Value Engineering in Shipbuilding
Value Engineering (VE) is a systematic and organized approach to improving the value of a
project or product by analyzing its functions and reducing costs without compromising quality,
performance, or reliability. In shipbuilding, where projects are capital-intensive and complex,
applying value engineering can significantly reduce costs while maintaining safety, design
integrity, and operational performance.
Function Analysis and Cost Control
The first step in value engineering is to perform a detailed Function Analysis, identifying each
Q5. What are the key industry trends in inspection, test and measurement? 10
Ans 5.
Inspection, Testing, and Measurement (ITM)
Inspection, testing, and measurement (ITM) are critical quality control processes used across
industries to ensure that products and systems meet specified standards and customer
expectations. With advancements in technology and growing demand for accuracy and
efficiency, ITM practices are evolving rapidly. New trends in ITM are enabling companies to
enhance product quality, reduce errors, and increase compliance with regulatory standards.
Adoption of Automation and Robotics
One of the most significant trends in ITM is the adoption of automation and robotics.
Automated inspection systems, including robotic arms and vision-based machines, are
Q6. Explain the popular concepts of measuring the value of project management. 10
Ans 6.
Project Management Value Assessment
Measuring the value of project management is essential for demonstrating its impact on
organizational success. As businesses strive to optimize resources, ensure timely delivery, and
improve outcomes, project management becomes a critical function. Assessing its value
involves both quantitative and qualitative methods that reflect how project management
contributes to strategic goals, customer satisfaction, and operational efficiency.
Return on Investment (ROI) in Project Management
One of the most popular concepts for evaluating project management value is Return on
SESSION FEB-MARCH 2025
PROGRAM MASTER OF BUSINESS ADMINISTRATION
(MBA)
SEMESTER 4
COURSE CODE & NAME DPRM402 PROJECT RISK MANAGEMENT
Assignment Set – 1
Q1. How do you define Risk management? What is Uncertainty in risk management? 5+5
Ans 1.
Definition of Risk Management
Risk management in project management refers to the systematic process of identifying,
assessing, prioritizing, and controlling risks that could impact the success of a project. A risk
is any uncertain event or condition that, if it occurs, could negatively or positively affect the
project’s objectives such as scope, schedule, cost, or quality. Risk management involves
planning for potential problems before they occur and developing strategies to minimize their
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Q2. What is Risk Breakdown Structure? Write down its advantages. 6+4
Ans 2.
Definition of Risk Breakdown Structure (RBS)
The Risk Breakdown Structure (RBS) is a hierarchical framework that categorizes and
organizes potential project risks into a structured format. It serves as a visual representation,
breaking down risks into multiple levels of detail according to their sources or areas of impact.
Typically arranged in a tree-like format, the RBS starts with broad categories such as technical,
external, organizational, or project management risks, and then drills down into more specific
Q3. Can you correlate Analysis Project Constraints, Scope Options and Opportunity
Management?
Ans 3.
Understanding Project Constraints
Project constraints refer to the key limiting factors that affect a project’s execution and delivery.
The three most common constraints are time, cost, and scope—often referred to as the project
management triangle. These constraints are interdependent; a change in one often affects the
others. For instance, reducing project duration may increase cost, or expanding the scope may
require additional time and budget. Managing these constraints is vital to ensure that project
Assignment Set – 2
Q4. What is your opinion on a Well-designed Risk Communication Plan? 10
Ans 4.
Purpose and Value of a Risk Communication Plan
A well-designed risk communication plan plays a critical role in project risk management. It
outlines how information regarding risks will be shared among stakeholders, team members,
sponsors, and other relevant parties. Risk communication is essential not only for transparency
but also for ensuring that all parties are aligned in understanding, addressing, and responding
to potential risks. Without effective communication, even a well-prepared risk management
Q5. What do you know about trends in Project Risk- Focusing on Cybersecurity-SWOT
analysis? 10
Ans 5.
Emerging Trend: Cybersecurity as a Critical Project Risk
In recent years, cybersecurity has emerged as a significant area of concern in project risk
management. With the rapid digitalization of project tools, cloud storage, and remote
collaborations, the likelihood of data breaches, hacking, ransomware, and phishing attacks has
dramatically increased. Whether it’s an IT development project or a manufacturing setup using
connected systems (IoT), cybersecurity threats can lead to project delays, data loss, financial
Q6. What is Project Experience, Functional Managers address Quality? 10
Ans 6.
Understanding Project Experience in Risk and Quality Context
Project experience refers to the accumulated knowledge, skills, and lessons learned from
previous projects, which are applied to improve current and future project outcomes. It includes
both successes and failures, covering aspects like risk response effectiveness, stakeholder
communication, team coordination, and quality assurance.
Project experience is crucial in identifying and managing risks proactively. Teams that have
encountered similar challenges in the past are better equipped to anticipate potential issues and
SESSION FEB-MARCH 2025
PROGRAM MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER IV
COURSE CODE & NAME DPRM401 QUANTITATIVE METHODS IN
PROJECT MANAGEMENT
Assignment Set – 1
Q1. Define a project, explain its key characteristics. Also discuss the primary objectives
of a project. Classified the different types of projects based on their scope and application.
Ans 1.
Definition of a Project
A project is a temporary, goal-oriented endeavor undertaken to create a unique product, service,
or result. It has a clearly defined start and end point, specific objectives, and a set budget and
resources. Unlike routine operations, projects are non-repetitive and aim to bring about change
or innovation. Projects are often driven by business needs, customer requirements,
technological developments, or legal obligations.
Key Characteristics of a Project
Projects possess several essential characteristics that differentiate them from routine business
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Q2. What key aspects are studied in the Definition Phase of a project? Discuss the role
and importance of network analysis in project management. 5+5
Ans 2.
Key Aspects Studied in the Definition Phase of a Project
The Definition Phase, also known as the project planning phase, is crucial as it sets the
groundwork for the entire project lifecycle. During this phase, the project scope is defined,
which outlines what the project will deliver and the boundaries within which it will operate.
This is followed by identifying the deliverables and milestones, which help in measuring
progress and success.
Another important aspect is the development of the work breakdown structure (WBS), which
Q3. What are the main benefits of Line of Balance (LOB) in project management? 10
Ans 3.
Line of Balance (LOB)
Line of Balance (LOB) is a graphical project management technique used to plan and control
repetitive work processes. It is especially useful in industries like construction, manufacturing,
and infrastructure where multiple units or tasks repeat across time and locations. Unlike
traditional Gantt charts, LOB visually displays the rate of progress for different activities,
Assignment Set – 2
Q4. What is the role of the Work Breakdown Structure (WBS) in project planning? How
does the WBS differ from the project schedule? 5+5
Ans 4.
Role of Work Breakdown Structure (WBS) in Project Planning
The Work Breakdown Structure (WBS) is a fundamental project management tool that plays a
central role in planning and organizing project work. WBS is a hierarchical decomposition of
the total scope of work to be carried out by the project team to accomplish project objectives.
It breaks down complex project goals into smaller, manageable components or work packages.
By segmenting the project into detailed tasks, WBS facilitates clear understanding of what
Q5. How does Microsoft Project assist project managers in finding and assigning
resources based on criteria such as skill level or hourly rate?
Ans 5.
Microsoft Project’s Resource Management Features
Microsoft Project is a powerful project management software that enables project managers to
plan, schedule, and manage resources efficiently. One of its most valuable features is its ability
to help managers find and assign resources to tasks based on predefined criteria such as skill
set, availability, cost, or location. This feature ensures optimal utilization of human and
material resources while aligning with project constraints.
Assigning Resources Based on Skill Level
Microsoft Project allows managers to create detailed resource profiles, including specific skills,
Q6. What is the difference between indenting and outdenting tasks in Microsoft Project?
How can tasks from Outlook be imported into Microsoft Project?
Ans 6.
Difference Between Indenting and Outdenting Tasks
In Microsoft Project, indenting and outdenting are features used to create a hierarchy or
structure within a project plan. Indenting a task converts it into a subtask of the task above it.
This means it becomes part of a group of related tasks that contribute to a higher-level activity,
called a summary task. For example, if “Develop Website” is a summary task, indenting
“Design Layout” beneath it will categorize it as a component of that broader work.
Indenting is essential for organizing complex projects into manageable units. It helps in