DOMS404 ADVANCED PROJECT MANAGEMENT FEB-MARCH 2025

Description

Assignment Set – 1

1. Differentiate between project financing and direct financing. Also, explain the advantages and disadvantages of Public-Private Partnership. 5+5

Ans 1.

Difference Between Project Financing and Direct Financing

Project financing and direct financing are two distinct methods used to raise capital for project execution. Project financing is a financial structure where the project is treated as a separate legal entity, and the cash flows generated by the project are used to repay the debt. In this model, lenders rely primarily on the project’s future revenues for repayment, not the creditworthiness of the sponsors. This type of financing is commonly used for large infrastructure, energy, and industrial projects. It helps in risk allocation and encourages private

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2. How do resource loading, resource leveling, and time-cost trade-offs impact project scheduling and management? Provide a detailed explanation. 10

Ans 2.

Impact of Resource Loading, Resource Leveling, and Time-Cost Trade-Offs on Project Scheduling and Management

Understanding Resource Loading

Resource loading refers to the process of assigning specific quantities of resources (like labor, machinery, or equipment) to project tasks over a period of time. It is a way to assess whether the available resources are sufficient to meet the planned project timeline. If resources are overloaded or underutilized, it can cause inefficiencies, delays, or increased costs. Effective resource loading ensures that no team or asset is overwhelmed, leading to better productivity and smoother execution.

In project scheduling, understanding resource availability is crucial. For example, if five tasks

3. What are the various types of control systems used in project management, including closed-loop control systems? How are these systems applied in project control? 5+5

Ans 3.

Types of Control Systems Used in Project Management Including Closed-Loop Control Systems

Various Types of Control Systems in Project Management

Control systems in project management are essential for ensuring that a project remains on track in terms of scope, time, cost, and quality. These systems help in monitoring performance, identifying variances from the plan, and implementing corrective actions. One of the most commonly used types is the open-loop control system, where the project is executed based on a pre-defined plan without feedback or adjustment. This type is more suitable for projects with little uncertainty or variability. However, its drawback is the inability to correct deviations once

Assignment Set – 2

4. What are the different types of risk management approaches used in project management? Also, explain the concept of risk mitigation with suitable examples.

Ans 4.

Types of Risk Management Approaches and the Concept of Risk Mitigation with Examples

Different Types of Risk Management Approaches

Qualitative Risk Management Approach

Project risk management involves identifying, analyzing, and responding to project risks to minimize their impact on objectives. The first and most traditional approach is the qualitative risk management approach, which involves assessing risks based on their probability of occurrence and impact using subjective judgment. It helps prioritize risks quickly but lacks numerical depth.

Quantitative Risk Management Approach

The quantitative risk management approach uses data, statistical models, and numerical

5. How are qualitative and financial models utilized in project selection and decision-making? Provide relevant illustrations.

Ans 5.

Utilization of Qualitative and Financial Models in Project Selection and Decision-Making

Qualitative Models in Project Selection

Qualitative models are widely used in the early stages of project selection when data is limited or the nature of the project is subjective. These models focus on non-financial aspects such as strategic alignment, social impact, technical feasibility, organizational readiness, and stakeholder interests. One commonly used qualitative approach is the scoring model, where project ideas are rated against pre-defined criteria like risk level, strategic fit, and innovation. Each criterion is given a weight, and projects are prioritized based on total scores. This method

6. How can selection criteria based on technical competency improve the effectiveness of project team formation and vendor selection? What is the significance of the cost-benefit ratio in setting management priorities for project selection and execution? 5+5

Ans 6.

Role of Technical Competency in Project Team and Vendor Selection, and Importance of Cost-Benefit Ratio in Project Management

Improving Project Team and Vendor Selection through Technical Competency

Selecting the right team and vendors is critical for successful project execution. Technical competency serves as a core selection criterion to ensure that both internal team members and external partners possess the necessary skills, knowledge, and experience to deliver the project outcomes efficiently. When selection is based on technical capabilities rather than only on cost or availability, the likelihood of meeting quality standards and timelines increases significantly.

For example, in an IT project involving cloud migration, selecting a vendor with certified