| SESSION | FEB MARCH 2025 |
| PROGRAM | MASTER OF BUSINESS ADMINISTRATION (MBA) |
| SEMESTER | IV |
| COURSE CODE & NAME | DISM401 ENTERPRISE RESOURCE PLANNING (ERP) |
Assignment Set – 1
Q1. List out the primary advantages of implementing e-commerce and ERP. 10
Ans 1.
E-commerce and Enterprise Resource Planning (ERP) systems are two critical components of modern business infrastructure. When integrated, they create a powerful framework that allows businesses to operate more efficiently, serve customers better, and respond to market demands in real time. While each has its own set of benefits, the synergy between e-commerce platforms and ERP systems amplifies business effectiveness significantly.
Advantages of E-Commerce Implementation
E-commerce allows businesses to reach a global audience without geographical constraints. One of the most significant benefits is 24/7 availability, enabling customers to browse and
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Q2. Mention the methods that exist for calculating ERP’s ROI. 10
Ans 2.
ERP ROI
Calculating the return on investment (ROI) of an ERP system is essential for assessing its financial justification. ERP implementation often requires substantial upfront costs in terms of software, hardware, training, and process reengineering. To validate this investment, businesses must evaluate both the tangible and intangible benefits over time using structured ROI calculation methods.
- Cost-Benefit Analysis (CBA)
Cost-benefit analysis is the most traditional method for calculating ERP ROI. It involves comparing the total expected benefits against the total expected costs of implementation. The
Q3. Explain resource optimization. 10
Ans 3.
Resource Optimization
Resource optimization refers to the strategic and efficient use of an organization’s resources—including human capital, technology, time, inventory, and finances—to maximize productivity and minimize waste. It involves planning, allocating, and monitoring resources to ensure that they are utilized in the best possible way to achieve organizational goals. In a competitive business environment, resource optimization is essential for improving
Assignment Set – 2
Q4. What is centralizing inventory control? 10
Ans 4.
Centralizing Inventory Control
Centralizing inventory control refers to the management of an organization’s entire inventory from a single, central location or system. Instead of each branch, store, or warehouse maintaining its inventory independently, a centralized system oversees and coordinates all stock levels, movement, and replenishment. This approach ensures consistency, reduces redundancy, and provides greater control over stock management across multiple locations or
Q5. Examine the eight stages of the life cycle of an ERP implementation. 10
Ans 5.
ERP Life Cycle
The ERP life cycle refers to the series of stages that an organization undergoes from the decision to implement an ERP system to its final adoption and optimization. Understanding the ERP life cycle helps businesses plan, allocate resources, and manage risks throughout the project. Each stage plays a vital role in ensuring the ERP system delivers its intended
, and ensures a high return on investment for the ERP project.
- Explain concentrated demonstrations by ERP vendors. 10
Ans 6.
ERP Demonstrations
ERP demonstrations are an essential part of the ERP selection and evaluation process. A concentrated demonstration is a focused, structured session conducted by ERP vendors to showcase how their software meets the specific needs of a potential client. These sessions offer a live walkthrough of the ERP system’s features and simulate real business scenarios. Concentrated demonstrations help decision-makers evaluate software capabilities and vendor
| SESSION | FEB-MARCH 2025 |
| PROGRAM | MASTER OF BUSINESS ADMINISTRATION (MBA) |
| SEMESTER | 4 |
| COURSE CODE & NAME | DISM402 E-COMMERCE |
Assignment Set – 1
Q1. Explain the concept of e-commerce. Further explain the various domains of E-Commerce
Ans 1.
Concept of E-Commerce
E-commerce, or electronic commerce, refers to the buying and selling of goods and services over the internet. It involves a wide range of activities including online retail, electronic payments, supply chain management, digital marketing, and customer support. E-commerce platforms enable businesses and consumers to transact without the need for physical interaction. It leverages digital technologies such as websites, mobile applications, and electronic payment systems to streamline and automate commercial transactions.
The rise of the internet and mobile technologies has significantly transformed traditional
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Q2. Explain in detail the seven layers of the OSI Model 10
Ans 2.
OSI Model
The OSI (Open Systems Interconnection) model is a conceptual framework developed by the International Organization for Standardization (ISO) that standardizes the functions of a telecommunication or computing system. It is divided into seven distinct layers, each responsible for specific functions in the process of transmitting data over a network. The OSI model serves as a guide for designing and understanding how network protocols and
Q3. What are the major security threats in e-commerce? Discuss their potential impact on businesses. 5+5
Ans 3.
E-Commerce Security Threats
As e-commerce continues to expand globally, security has become a critical concern. With sensitive customer information, financial transactions, and proprietary business data being exchanged online, the risk of cyber threats has grown significantly. E-commerce security threats refer to any malicious activity that aims to compromise the confidentiality, integrity,
Assignment Set – 2
Q4. Analyse different modes of electronic payments and their suitability for various e-commerce transactions. 10
Ans 4.
Electronic Payment Modes
Electronic payment systems are the backbone of modern e-commerce. These systems allow consumers and businesses to transfer money digitally in a secure, efficient, and convenient manner. The growth of e-commerce platforms has led to the emergence of various electronic payment methods, each with its unique features, security protocols, and areas of suitability. Selecting the appropriate mode of payment is essential for both customer satisfaction and
Q5. Define e-marketing and discuss its scope in the digital era. 4+6
Ans 5.
E-Marketing and Discuss Its Scope in the Digital Era
Definition of E-Marketing
E-marketing, also known as digital marketing or online marketing, refers to the use of electronic channels to promote products, services, or brands to consumers. It utilizes the internet, social media, search engines, mobile apps, email, and other digital platforms to connect with customers. E-marketing allows for real-time engagement, targeted communication, and data-driven campaigns, offering businesses more effective ways to reach
Q6. Explain the concept of M-commerce and its potential impact on the future of e-commerce. 10
Ans 6.
M-Commerce
M-commerce, or mobile commerce, refers to the buying and selling of goods and services using mobile devices such as smartphones and tablets. It is an extension of e-commerce that enables users to conduct transactions anytime and anywhere, leveraging mobile internet connectivity and applications. With the proliferation of mobile devices, m-commerce has
| SESSION | FEB MARCH 2025 |
| PROGRAM | MASTER OF BUSINESS ADMINISTRATION (MBA) |
| SEMESTER | III |
| COURSE CODE & NAME | DISM403 TECHNOLOGY MANAGEMENT |
Assignment Set – 1
Q1. Define Technology Forecasting. Explain the technology forecasting model and its importance. 2+8
Ans 1.
Technology Forecasting
Technology forecasting refers to the process of predicting the future characteristics, development, and impacts of technology. It involves the analysis of current trends, past innovations, expert insights, and scientific breakthroughs to anticipate how and when technologies will evolve. This approach is critical for organizations to adapt and prepare for future challenges and opportunities. Rather than offering perfect predictions, it provides well-
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Q2. Elucidate the five-process framework for Technology management. 10
Ans 2.
Overview of the Five-Process Framework
The Five-Process Framework for technology management is a strategic model that outlines the key steps organizations must take to manage technological innovation effectively. This framework supports the integration of technology into business processes to create value, improve efficiency, and maintain competitive advantage. The five core processes are technology identification, selection, acquisition, exploitation, and protection. Each process is interrelated and contributes to the comprehensive management of technology throughout its
Q3. Define Technology Acquisition. What are the reasons for obtaining new Technology? Explain any 2 biggest Technology Acquisitions in the recent past.
Ans 3.
Technology Acquisition
Technology acquisition refers to the process by which an organization obtains new technology from external sources to enhance its operational capabilities, increase competitiveness, and support innovation. It involves the purchase, licensing, or partnership of new systems, tools, or intellectual property developed by other organizations. Technology acquisition allows companies to access cutting-edge advancements without developing them
Assignment Set – 2
Q4. What is Technology change? What are the different phases and types of technology change? Explain by taking an example. 2+4+4
Ans 4.
Technology Change
Technology change refers to the process through which new technologies emerge, evolve, and replace older ones. It is an ongoing transformation driven by scientific discoveries, market needs, innovation, and societal advancement. Technology change can be minor and continuous or major and disruptive. It impacts businesses, industries, and individuals, reshaping how we produce, communicate, travel, and live. Organizations must adapt to
Q5. Explain the selection and implementation process of new technology with a neat block diagram.
Ans 5.
Introduction to Technology Selection and Implementation
The selection and implementation of new technology are critical steps in ensuring that technological investments lead to tangible business benefits. This process is not only about identifying the right technology but also about aligning it with strategic goals, operational requirements, and organizational capabilities. A systematic approach ensures reduced risk,
Q6. List and Explain Different Modes and Different Ways of Technology Transfer. Explain Each One Taking a Relevant Example
Ans 6.
Technology Transfer
Technology transfer is the process of moving knowledge, skills, processes, and technologies from one entity to another. It may occur between organizations, countries, or institutions and plays a crucial role in innovation diffusion, industrial development, and collaboration. Technology transfer enhances economic growth by enabling the adoption of existing
| SESSION | FEB MARCH 2025 |
| PROGRAM | MASTER OF BUSINESS ADMINISTRATION (MBA) |
| SEMESTER | IV |
| COURSE CODE & NAME | DISM404 JAVA AND WEB DESIGN |
Assignment Set – 1
Q1. Write a Short note on the following.
- Explain the World Wide Web and its components.
- Web Browser
iii. Search Engine 4+3+3
Ans 1.
- Explain the World Wide Web and Its Components
The World Wide Web (WWW), often simply called the Web, is a vast system of interconnected documents and resources, accessed via the Internet using web browsers. It was invented by Tim Berners-Lee in 1989 and has since transformed how people share and access information globally. The Web works on a client-server model, where a user’s device (the client) sends requests to web servers that host websites, returning HTML pages or other resources. Core technologies of the Web include Hypertext Transfer Protocol (HTTP), which
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Q2. Create a simple HTML document to design a basic webpage. The webpage must include:
Formatted text using various HTML tags
An image displayed on the page
A hyperlink to another webpage
Unordered List 2.5*4
Ans 2.
Introduction to HTML Webpage Design
Creating a basic webpage using HTML involves using various tags to structure and present content. HTML stands for Hypertext Markup Language and is used to build the skeleton of any webpage. Every HTML document starts with the <!DOCTYPE html> declaration, followed by the <html> tag that wraps all the content. Inside this, the <head> section includes metadata like the title, and the <body> section includes all visible content. HTML is the foundation of web design, enabling developers to create engaging and well-structured pages. Even a simple HTML file can include headings, paragraphs, images, links, and lists to create
Q3. Discuss the role and significance of CSS (Cascading Style Sheets) in web design.
Then, perform the following:
Create a CSS style sheet that customizes text styles, colours, and element positioning on a sample HTML page.
Illustrate, with an example, how CSS contributes to building responsive and visually attractive layouts. 4+3+3
Ans 3.
CSS in Web Design
CSS, or Cascading Style Sheets, is an essential component of web development used to control the look and feel of HTML content. While HTML provides the structure of a webpage, CSS defines how that structure is presented to users. It allows developers to separate content from design, making websites easier to manage, more attractive, and consistent in style. CSS ensures that a single style can be applied across multiple pages,
Assignment Set – 2
Q4. Discuss the benefits and drawbacks of using JavaScript on a webpage. Create a simple webpage that uses JavaScript for form validation (e.g., checking if all fields are filled). Include examples of basic event handlers in your code. 5+5
Ans 4.
Benefits and Drawbacks of Using JavaScript on a Webpage
Benefits of Using JavaScript
JavaScript is a dynamic programming language primarily used to add interactivity and functionality to web pages. One of the most significant advantages of JavaScript is that it runs directly in the user’s browser without the need for server-side interaction. This makes web pages more responsive and enhances user experience by reducing the need for constant page reloads. JavaScript allows developers to build dynamic features such as image sliders, form
Q5. Define the LAMP stack and explain its importance in web development. Describe installing and configuring the LAMP stack on a local machine. Also, illustrate how PhpMyAdmin is used for database management within LAMP. 4+3+3
Ans 5.
Definition of the LAMP Stack
LAMP is an acronym representing a collection of open-source software used to create powerful, dynamic websites and web applications. It stands for Linux (operating system), Apache (web server), MySQL (database), and PHP (server-side scripting language). Each component of the LAMP stack is responsible for handling a specific part of the web development process. Linux serves as the foundation and operating system, Apache handles the web requests, MySQL manages data storage, and PHP is used to build interactive and
Q6. Discuss the following topics related to Java:
Commonly used Java APIs
Definitions of JDK and JRE
Differences between JDK, JRE, and JVM
Detailed explanation of the thread life cycle in Java 2.5*4
Ans 6.
Commonly Used Java APIs
Java APIs are pre-written classes and interfaces bundled into libraries that developers can use to build robust applications. These APIs provide essential functionality such as input/output processing, networking, data structures, and GUI creation. Some widely used APIs include java.lang (basic classes), java.util (collections framework), java.io (file handling), and javax.swing (graphical user interfaces). These APIs simplify development by offering reusable code for common tasks, reducing the need to write low-level logic from scratch. The
| 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 breaks the overall project into smaller, manageable tasks. This makes it easier to assign
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, helping project managers identify schedule discrepancies and
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
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,
| 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 impact if they do.
This process typically includes steps like risk identification, qualitative and quantitative risk analysis, risk response planning, and continuous monitoring throughout the project lifecycle.
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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
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
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 strategy can fail due to misinterpretation or delayed responses.
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,
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
| 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
organizations enhance their project delivery capabilities and remain competitive in a fast-evolving digital landscape.
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
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.
function in modern manufacturing and engineering environments.
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
| 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 accountability, and helps manage legal and financial obligations efficiently.
In project environments, contracts define the terms of engagement between the project owner
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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
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 components needed for assembly. There are different types of BOMs including Engineering BOMs, which are designed by the product design team; Manufacturing BOMs, used by production teams; and Sales BOMs, which show the final product and its components sold together. Depending on the complexity of the project, BOMs can be single-level or multi-level.
In project-based industries such as construction, aerospace, shipbuilding, or electronics, a
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. Vague or ambiguous clauses can lead to misinterpretation, disagreements, or legal challenges.
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