Project Management — Summer 2018

Select the most appropriate answer for the following MCQs. 1 In which of the following stage of the team development, productivity is the highest? A Forming B Performing C Storming D Adjourning 2 When the project is not deterministic in nature, which of the following is applicable? A CPM B Gantt Chart C PERT D Crashing 3 Company Astarts a new business on its own. This is an example of ___________ ApGrreoejnefcite.l d Project B Brown Field Project C Divestment Project D Modernisation Project 4 Reducing the impact of an adverse event is known as A Retaining the risk B Mitigating the risk C Transferring the risk D None of the above 5 Which of the following is not a hybrid security? A Preference Shares B Bonds with Warrants C Equity Shares D Aand C 6 Which of the following phase describes the shutdown of the project? A Planning Phase B Termination Phase C Implementation Phase D None of the above

Explain work breakdown structure with an example.

Briefly explain the following terms: 1. Dummy activity 2. Preference Shares 3. Time overrun 4. Crashing of the Project

“In any project, a contract is an essential requirement.” Do you agree with the statement? What provisions must be incorporated in a project contract? Q.3. (a) Define Project and discuss the essential skills and responsibilities of a project manager. Q.3. (b) In the era of globalization, there are many virtual project teams working on the same project. As a project manager, discuss the major challenges in managing such teams.

Explain the meaning of a project and discuss various phases in the life of a project.

Your friend wants to launch an online Kids store for selling products such as toys, school items, chocolates, kids’ apparel etc. He requests you to prepare a project report for him to get the bank loan. List and discuss the information that you would provide in the project report.

Risk management in a project is a proactive and systematic approach. Explain the statement with respect to risk management process.

“Post Completion audit of a project forms a critical part of overall project management.” As a project manager, what steps would you take to initiate the process of project audit?

Q.5. From the following information, you are requested to help the company prepare the network diagram, find the critical path, duration and the total float for all the activities of the project. Activity Preceding Activity Duration (Days) A --- B A C A D B E B 18 F C G E H D,F I G,H

“Tasty Restaurant”, a national chain of restaurants, proposes to diversify in to operating holiday resorts. For this project, the restaurant is considering different project construction alternatives. Kindly suggest an appropriate alternative to the restaurant with explanation.

Discuss in detail the Public-Private-Partnership (PPP) concept in infrastructure financing.

Development of Small and Medium Enterprises (SMEs) is very crucial for the overall economic development. Discuss the role of SIDBI towards financing of such SMEs. Q.5. Warmth Ltd. is into building quality water heaters and Geysers since 1980. By 1990, it was the second largest manufacturer of water heater and geyser in India. The total strength of employee was 800. The company was not producing variety of heaters and geysers. The production was standardized and the product variety was limited. The operating and financial performance of the company was quite positive. The revenue and profits were showing increasing trend. The company was believing that the good financial performance was on account of economies of scale which was possible due to standardization in manufacturing process. The company always focused on improving the design and performance of the existing product line rather than developing new products and models according to the market requirement. The company was able to build and deliver advanced heaters and geysers to its clients within their budget and on time. Over a period of time, company became complacent with the existing business model and the growth pattern. During this time period, the new During this time period, the new entrants in this market started providing customized heaters and geysers to the customers with improved design and performance. Gradually, the market share of Warmth Ltd. started decreasing. There was substantial decline in the number of orders received from its regular clients. entrants in this market started providing customized heaters and geysers to the customers with improved design and performance. Gradually, the market share of Warmth Ltd. started decreasing. There was substantial decline in the number of orders received from its regular customers. In order to find a solution to this problem, a review meeting was conducted. The CEO of the company Mr. Pawar hosted the meeting. He mentioned in the meeting that, the times were changing and the company would not be able to survive with its traditional management approach. He felt that, each customer’s order should be managed as a separate project. Different departments of the company will have to be ready to work under a different organization structure. The departmental heads should share the resources with the project managers. In nutshell, he emphasized the need for applying project management concept in its existing set up. Many senior employees did not appreciate the idea of the CEO. They were happy with the functional structure and standardization approach. They strongly believed that the restructuring exercise is useless and would not deliver result. From the given case facts, answer the following questions. 1. Do you agree with the opinion of the CEO of Warmth Ltd? Justify. If you are appointed as a consultant to manage this situation, what changes will you implement and how? 2. How would you handle the communication and change with the senior employees who are against the view of the CEO of the company?