NAME AMAN KUMAR

ROLL NUMBER 2314108567

PROGRAM MASTER OF BUSINESS ADMINISTRATION (MBA)
SEMESTER II
COURSE CODE & NAME DMBA206 Project Management
 SET – 1

Q1. Describe ten knowledge areas of the project management discipline.

Ans.Project management involves coordinating and overseeing all aspects of the project to en
sure its success. The Project Management Institute (PMI) defines ten areas of knowledge in t
he Management Body of Knowledge (PMBOK). This area of
knowledge covers many aspects of project management. Below are ten skills:

1.Integrated management:
Integration and integration of various activities and functions to achieve success.
Including creating the project charter, establishing the project management system and overse
eing the completion of the entire project.

2.Project Scope Management:

Focus on defining, managing and controlling project scope.
Collect requirements, define project scope, create work breakdown structure (WBS) and man
age changes to the project.

3.Project Progress Management:

With the development, control and management of the project.
Management involves defining and analyzing job tasks, estimating work hours, and establishi
ng work schedules.

4.Project Cost Management:

Focus on estimating, budgeting and managing costs throughout the lifecycle.
Including cost estimating, budgeting and cost control.

5.Project Quality Management:

It includes activities to ensure that the project meets the needs and expectations of the stakeho
lders.With good planning, security and management.

6.Project Resource Management:

Includes identifying, acquiring and managing team resources.
Improve teamwork with roles and responsibilities and manage the team throughout the projec
t.

7.Contact management:
The goal is to ensure that the project is created, collected, distributed, stored and ultimately di
sposed of in a timely and appropriate manner.
Includes communication planning, information distribution, performance reporting and stake
holder management.

8.Project Risk Management:< br>Identifying, analyzing and responding to project risks.

Includes risk identification, risk assessment, risk response planning and risk monitoring and c
ontrol.

9.Project Procurement Management:

Focuses on purchasing goods and services from other sources.
Including purchasing planning, purchasing execution and purchasing management.

10.Project stakeholder management:

Includes the identification, analysis and management of relationships with project stakeholder
s.
Including stakeholder identification, stakeholder engagement planning and stakeholder engag
ement.

Q2. Explain the Stages in Project Identification.

Ans. Project analysis is the first phase of the project life cycle that can be identified and
defined. The purpose of this phase is to investigate and evaluate resources and problems to
determine whether they are worth the additional investment of time and resources. The
project analysis process usually includes the following steps:

Idea Generation:
This is the beginning of idea generation. Ideas can come from many sources, including
stakeholders, employees, customers, business models, or others.

Idea Screening:
When the group of ideas is created, it should be scanned to ensure the best. During the
selection process, criteria such as feasibility, compliance with the organization's goals,
potential benefits and strategic suitability are taken into account.

Education:
After the initial screening, a feasibility study will be conducted on the proposed project. A
feasibility study evaluates the technical, economic, legal, operational and temporal feasibility
of a project. This helps determine whether the project is feasible and worth pursuing.

Create project charter:

If the project concept passes the feasibility study, a project charter will be created. The project
charter describes the project's goals, scope, stakeholders, constraints, assumptions, and initial
funding level and timeline. It acts as a legal document that allows the project to proceed.

Stakeholder Analysis:
Identifying and identifying stakeholders is important to understand who will be affected by
the project and who can affect the success of the project. This involves identifying internal
and external stakeholders and understanding their expectations, interests, and potential impact
on the project.
Risk Assessment:
A preliminary risk assessment will identify risks associated with the project. This helps
understand any issues that may arise during project completion and allows for early planning
to reduce or control these risks.

Business analysis (if necessary):

Perform a business analysis of the market if the project involves products or services. This
includes market research, competition, customer needs, and product or service needs.

Cost-Benefit Analysis:
Evaluating the costs and benefits associated with the project is important for decision making.
Cost-benefit analysis helps understand the financial impact of a project and whether the
expected benefits are worth the investment.

Approval and authorization:

Once all necessary evaluations have been completed, the proposal will be sent to key
personnel for approval by the decision maker. This will include obtaining approvals and
funding to move into the next phase of the project's lifecycle.

Project Launch:
If the project is approved, an official meeting will be held to launch the project. This includes
unifying the team, clarifying roles and responsibilities, and communicating goals and
expectations.

Q3. Represent the project life cycle and its process flows.
Ans. The project life cycle represents the stages a project goes through from initiation to
completion. The process flows within the project life cycle can be represented using a
graphical model. One commonly used representation is the Project Life Cycle Diagram.
Below is a simplified diagram illustrating the typical stages and process flows in a project life
cycle.
Project Initiation --- Project planning --- project Execution --- project monitoring & control --
- project closure

Stages and process description:

Initiation:
The project starts from the beginning, where project needs are determined and the project's go
als and possibilities are reviewed.
Key tasks include developing a project plan, identifying stakeholders, and conducting a preli
minary risk assessment.
Planning:
The detailed process will be completed after the project starts. This includes defining the proj
ect scope, creating a project management plan, and establishing a schedule and budget.
Other important activities include risk management planning, resource planning, and stakehol
der communication planning.

Project execution:
After the plan is implemented, the project enters the execution phase. This is where the real w
ork of the project and deliverables happen.
Communication and cooperation of the team working on the work defined in the project plan
is important at this stage.

Project Monitoring and Control:

All project, monitoring and control processes are in place to monitor and measure project perf
ormance according to the project management plan.
This includes monitoring progress, managing change, resolving problems, and keeping projec
ts moving forward.

Project Closing:
Project closing involves completing all work, completing deliverables, obtaining approval fro
m the customer or people involved, and closing the project.
Document lessons learned and create a project closure report.

SET -II

Q4. Define Quality Concepts. Explain the Shewhart Cycle and Project quality management
that are used to improve management processes.
Ans. Quality strategies refer to the principles and processes that guide organizations to
achieve and maintain quality standards in their products, services and processes. Key terms
are:
1.Quality: Quality is the degree to which a product or service meets or exceeds customer
expectations. It has features such as performance, durability, reliability and compliance with
specifications.

2.Customer satisfaction:
Meeting or exceeding customer expectations is the key to quality. Customer satisfaction is an
important criterion that determines the success of a product or service.

3.Continuous improvement:
The concept of continuous improvement is often associated with processes such as Kaizen,
which emphasize continuous efforts to improve products, processes, and services over time.

4.Quality Assurance:
Quality assurance includes activities to ensure that quality requirements are met. It includes
methods, standards, and procedures designed to prevent defects and errors.

5.Quality Control:
Quality control is the process of monitoring and examining products or services during and
after production to identify and correct defects. It ensures that the final product meets the
required standards.

Shewhart Cycle (PDCA Cycle):

The Shewhart Cycle, also known as the PDCA Cycle (Plan-Do-Check-Act), is a continuous
improvement process developed by Walter A. Shewhart. method. It consists of the following
four stages:

1.Planning:
Identify and identify problems or improvement opportunities.
Create a development plan that includes setting goals, determining the process, and deciding
how data will be collected.

2.Do:
Follow the plan for a while and test the results.
Make planned changes and record relevant information when applied.

3.Check:
Evaluate application results by comparing collected data with expected results.
Evaluate the effectiveness of changes and determine whether objectives are being achieved.

4.Action:
If the result is not as expected, return to the planning phase, change the plan, etc.
The PDCA cycle is a systematic, iterative process for problem solving and continuous
improvement.

Project quality control

The purpose of quality control in project management is to ensure that project deliverables
are met as required and that the process is efficient, reliable and effective. It includes the
following important processes:

1.Quality Planning:
Establishing quality standards for the project and determining how these standards will be
met. This includes establishing quality objectives, defining metrics, and developing quality
control plans.

2.Quality Assurance:
Implementation of quality work plans to ensure work procedures are met. It includes
continuous process improvement and compliance checks.

3.Quality Control:
Monitor and verify that project deliverables meet quality standards. This includes inspection,
testing and other procedures to detect and correct defects.

Q5. Depict and explain the process of the Purchase cycle.

Ans. Purchasing cycle, also known as purchasing cycle or procurement process, is the steps
an organization follows to obtain goods and services from suppliers, external sources. This
process usually includes several stages, from determining the need for the product or service
to final collection and payment. Below is an overview of the purchasing cycle with a
description of each stage: Purchasing begins with identifying organizational needs. This
demand can come from many sources, such as changes in demand, new projects, or
replacement of existing equipment.

1.Requirements:
Once the requirements are determined, a purchase order will be created. This document
specifies the specifications, quantities and requirements of the required product or service. It
is usually initiated by the department or the person who needs the product.

2.Identification and selection of supplier:

The organization identifies potential suppliers that can meet the requirements specified in the
purchase order. This may include evaluating vendor relationships, conducting market
research, or sending a request for proposal (RFP) to potential suppliers.

3.Request for Quote (RFQ) or Request for Proposal (RFP):

If necessary, the organization can send an RFQ or RFP to selected vendors requesting
information on price, pricing language, and how they can do it. Satisfy the details of the
requirements specified in the purchase requisition section.

4.Bid/Proposal Evaluation:
The agency evaluates incoming bids or offers based on various factors such as price, quality,
delivery time and reputation of the seller. This evaluation helps select the most suitable
supplier.

5.Create a Purchase Order (PO):

Once the vendor is selected, a PO is created. PO is a document given by the buyer to the
seller, showing the details of the contract such as quantity, price, delivery date and terms.

6.Order confirmation:
The seller confirms that he has received the order and can complete the order as specified.
This step ensures clarity and consistency in the speech.

7.Delivery of Goods/Services:
The Supplier delivers goods or services according to the conditions specified in the Contract.
This may include physically transporting goods or providing services as agreed.

8.Inspection and acceptance:

Upon receipt of goods or services, Buyer shall inspect them to ensure that they meet the
required standards and as specified in the purchase order. Acceptance may be made by
signature or some other verification process.

9.Receipt and Approval of Invoice:

The Supplier sends the invoice for the delivered products or services. People will review and
approve invoices to make sure they are consistent with the recommendations in the purchase
order.

10.Payment:
The buyer makes the payment to the supplier according to the agreement. Payment terms may
vary and may include issuance of check, wire transfer or other approved payment methods.

11.Records:
All relevant information including purchases, orders, invoices and billing information to
review and track debt.

Q6. Describe the key steps and approaches for effective control of project.
Ans. Effective project management involves monitoring, evaluating, and controlling all
aspects of the project to ensure it stays on track and achieves its goals. The main steps and
methods for effective project management are:

Establish clear objectives:

Clearly define and measure objectives from the beginning. These goals should be Specific,
Measurable, Achievable, Relevant and Time-bound (SMART). Clear goals provide a basis for
management.
Create a detailed plan:
Create an action plan that includes detailed schedules, budgets, budgets, risk management
and other relevant factors. Project plans provide a basis for comparison and help track
progress.

Implementation of change control procedures:

Establish a change control procedure based on the management of changes to the project,
program or budget. Changes should be carefully evaluated, documented and approved to
prevent intrusions and to ensure that changes meet their intended purpose.

Define Key Performance Indicators (KPIs):

Identify and establish KPI targets that meet the project. KPIs provide multiple metrics to
measure performance and progress. Common KPIs include time variables, cost variables, and
quality metrics.

Monitor performance:
Always monitor and track the progress of the project against the design. Use project
management tools and techniques to document project completion, resource usage, and
overall performance.

Hold regular meetings:

Hold regular meetings with the project team to review progress, discuss issues, and resolve
questions or concerns. Communication is key to maintaining consistency and resolving issues
in a timely manner.

Comply with risk management:

Proactively identify, assess and manage risks throughout the project. Preventing negative
aspects of the project by regularly reviewing the project's risk management plan and quickly
correcting emerging risks.

Ensure safety and quality control:

Implement quality assurance and quality control procedures to ensure products are delivered
in accordance with appropriate standards. Regular audits, inspections and evaluations are
carried out to maintain high quality levels.

Benefit Earned Value Management (EVM):

Benefit earned value management by combining cost, time and operational efficiency. EVM
provides a comprehensive view of performance by comparing work planned with work done
and costs incurred.

Collecting and reporting progress:

Collect detailed information and create progress reports. These reports should be distributed
to stakeholders to inform them of events, problems, and achievements.

Perform the closeout process:

Create project closeout, including completing all tasks, obtaining approval from stakeholders,
and documenting the work. This will complete the migration.

Continuous improvement:
Encourage a culture of continuous improvement through post-project analysis. Review
performance, identify areas for improvement and apply lessons learned to the future. This
repetition helps organizations learn and mature.