Assignment Set – 1

Q.1. Explain the challenges of planning and analysis in project management. Differentiate between Commercial and Economic feasibility of a project. (5+5 = 10 Marks)

Ans 1.

Challenges of Planning and Analysis in Project Management

Analysis and planning are the foundation for successful project management. The process has its own challenges and, if not handled well and properly, could derail the project ahead of its start. Achieving accurate planning demands good information, experienced judgment, and stakeholder alignment each of which is challenging to attain regularly.

Scope definition is a major challenge. If the scope is not clearly defined, it leads to scope creep

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Q.2. Explain Cost Plus Fixed Fee Contracts. Discuss their suitability with examples in different project scenarios. Discuss the advantages and limitations of Project Financing. (5+5 = 10 Marks)

Ans 2.

Cost Plus Fixed Fee Contracts

The Cost plus Fixed Fee (CPFF) contract is a sort of reimbursable contract in which the buyer promises to reimburse the contractor for all allowable costs of the project. The contractor also has to pay a predetermined fixed fee as profits. Fixed fees do remain the same regardless of actual expenses that are incurred. The type of contract utilized when the scope work is unclear or

Q.3. Explain the five stages of team development in project management. How does understanding these stages help in improving team performance? Explain the Critical Path Method (CPM) with a suitable example. (5+5 = 10 Marks)

Ans 3.

Five Stages of Team Development

1. Bruce Tuckman’s design explains five steps that follow each other during which team members typically evolve.
2. Formation is the initial stage in which team members get together the team, but roles are

Assignment Set – 2

Q.4. Explain the key features of a Computerized Project Management Information System (PMIS). How do these features improve decision-making and project control? Explain the significance of cost of quality in maintaining project standards. (5+5 = 10 Marks)

Ans 4.

Computerized Project Management Information System (PMIS)

A Computerized PMIS is a software-based system that collects, processes it, stores, and shares information about projects to aid in planning, execution, and control. It combines multiple functions of a project in a single system, giving managers real-time access to precise information. Examples are Microsoft Project, Primavera, and cloud-based apps such as Asana or Jira.

Important features include scheduling tools that create Gantt charts, network diagrams, as well as

Q.5. Describe the process of risk identification and mitigation in project management. Discuss the major risks associated with international project management. (5+5 = 10 Marks)

Ans 5.

Risk Identification in Project Management

Risk identification is the methodical way of recording and identifying risk factors that could impact the objectives of a project. It’s a continuous process that begins in the phase of planning and is carried on throughout the project lifecycle. Some common techniques are brainstorming sessions together with the team members, expert interviews, analysis of data collected of similar

Q.6. Explain the concept of Concurrent Engineering. Explain the role of cost-benefit analysis and management priorities in project selection. (5+5 = 10 Marks)

Ans 6.

Concurrent Engineering

Concurrent Engineering (CE), also known as simultaneous engineering is a method of design approach in which different stages of development can be completed in parallel, rather than sequentially. When developing in traditional sequential fashion, each step is initiated only when the previous one is complete. This causes long times for the development process and a late