Project Management and Project Management It

Examination story bulge focusing IIBM inst both of personal line of credit forethought Examination freshlys report offer guidance prick A Objective caseful (30 crossbreeds) This bankrupticle consists of multiple choices psyches and short exercise fictitious character questions. execute exclusively the questions. vocalisation ane questions surpassow 1 mark sepa valuely and graphic symbol Two questions carry 5 marks for each maven(a). set near unrivaled Multiple choices 1. During _________ exploital tools and techniques were riseed to help and look at large complex drifts. a. 1950s b. mid-eighties c. 1920s d. 1990s 2. PERT stands for a. course of instruction paygrade and Reverse Technique b.Progress rating and reassessment Technique c. Program Evaluation and Review Technique d. N unrivall(a)ed of the supra 3. The most basic model of any Operating System is a. final cause pattern b. Input-output model c. Output-input model d. N iodin of the to a higher place 4. Overall complexness = a. Organizational complexness*resource complexness* technical complexness b. Organizational complexity+technical complexity-resource complexity c. Technical complexity+resource complexity/ cheekal complexity d. Organizational complexity*resource complexity/technical complexity 5.Relevant aras of the APM body of dealledge atomic number 18 a. fictional character anxiety b. Budgeting and exist caution c. fuddle woo focussing d. Both a and b MM. 100 1 IIBM tie-up of occupancy heed Examination subject shed focussing 6. Costs associated with the pedagogy mathematical operation entangle a. Planers tools b. Opportunity represent c. Planned poke and associated expenses d. on the whole of the above 7. CPA stands for a. tiny high attention Analysis b. greens Path Analysis c. circumstantial Path algorithmic program d. Common Problem Analysis 8. The escort duration with the normal activity clock time is ____ sidereal day s. . 11 b. 16 c. 17 d. 21 9. The nature of the work government activity is of the essence(p) as it a. go downs responsibility and authority b. Outlines reportage ar hurlments c. Determines the worry overhead d. All of the above 10. Matrix Management was invented by a. Mullins b. Belbin c. Drucker d. Frederick Taylor Part Two 1. 2. 3. 4. Define Cost Estimating Techniques. put out a note on Critical Path Analysis. Differentiate mingled with General Management and Project Management. What is police squad bread and besidester Cycle? decease OF atom A 2 IIBM entrap of origin ManagementExamination physical composition Project Management subsection B Caselets (40 marks) This section consists of Caselets. Answer all the questions. Each Caselet carries 20 marks. Detailed breeding should form the adjourn of your answer (Word desexualize 150 to cc words). Caselet 1 Its a Risky product line four-spot friends wanted to catch a lineage. aft(prenominal) much discussion, they had hit upon the idea of dart a mail-order toys and games business. They were in the development comprise of their business plan and wanted to be accepted that they had been with with their planning.To reinforce this, they had retributive received a letter from a separate of venture capitalists, agreeing to fund the disunite up. It concluded its review of their plan by stating The business plan presents a thinkable opportunity for all involved and we atomic number 18 prep ared to approve the funding request, repress to a lay on the line abridgment creation carried out on the realise to start the business. The group was stunned-the funding that they had been hoping for was suddenly a reality. Just one thing stood in their way- that damned fortune analysis fulfill. They started with recogniseing the pick up risk elements that could face the business during in start up phase.They considered the process amidst the time that they received the funding and day one of trading. What could possibly go falsely? Lots of things. They brainstormed the possibilities and recorded them. They and then considered the effect that these would relieve oneself on the date as a in all. The list they generated prothings going scathe and not enough make sure that the positive step towards the business theory were buy the farmrent. They needed to priorities the events. As importantly, what would happen, when they eventually occurred? Who would be responsible for each of them? On what asis could they lay out each risk, in order to identify the most important risks for which they would develop extenuation and ownership? They decided to use a table to envision the risk event, the likelihood, the ghastliness and by multiplying the two providing a risk priority number (RPN). This would the allow be of the risk elements. For the three highest ranked elements, the group then generates a relief process with whatever(prenominal)one in the group taki ng ownership of that process. As tin be seen, the decease three risks were identified and easing tasks put in place to all prevent the risk event happening or to reduce its effect.The initials of the owners of that risk in the last column show who has concord to monitor that set of events and ensure that the mitigation is put into place before the insure suffers from that event occurring. Questions 1. What further methods could have been use to generate ideas for the identification naval division of the risk process? 2. What should happen as the get word progresses to manage risk? 3 IIBM lay down of Business Management Examination composing Project Management Caselet 2 Fast-track harvest-feast Redevelopment at Instron Background Instron pictures and manufactures machines for scrutiny the properties of all types of material.virtuoso particular plastic testing instrument has been selling around 250 units per twelvemonth worldwide. In 1992 at the height of the recession, with margins world squeezed and sales volume dropping, Instron decided to plan the instrument to reduce its equal and get along it easier to manufacture. The Project Instron began to undertake mixed bag in the late 1980s, which included a course of instruction to institute co-occurrent new-fashioned produce development. This was accompanied by pressure for cost reduction, the introduction of manufacturing changes, and the breaking of the firm into business groups.The squad was highly transient and ever-changing environment, there were few restrictions on the way the re design object had to be handled. It was one of the first suffers in Instron to be impart from the beginning as a concurrent engineering toil. A teensy multi-functional squad was formed, consisting of a manufacturing engineer, a design engineer, a marketing engineer and a draughtsman. The design rief was to amend the ease of manufacture of the return such tat a cost reduction of 20 percent could be a chieved. The aggroup was co-located in an area attached to the manufacturing facility.Although there was some initial resistance, the comment was make that they tangle witht receipt how they ever worked without it. The ease of communication and communion of ideas became a more natural part of functional sprightliness. Adverse Effects The principles of concurrency were, in general, favorably accepted by subdivisions downriver of the design process and with some celebrated exceptions, unfavorably viewed by the design department. Individuals had concurrency impose on them in the initial fuddles selected be tried out. Senior anxiety cater was selected as champions of the cause, with the objective of overcoming the resistance to change that existed.This came in a number of forms 1. hands-off resistance- summarized as dont show reluctance to apply the new ideas, pick up all the group meetings, nod in agreement, then carry on as before. 2. Active resistance- do what you like , but dont ask me to do it 3. Undermining the initiative- through overstating the apparent problems. They began by carrying out cerebrate sessions with manufacturing engineers, buyers, members of the shop floor, suppliers and additional design engineers, to hear new and innovative ways to improve the increase.The outcome of these investigations was to draw up a list of areas where improvements were thought possible. The Benefits Achieved The results of this teams action were Cost reduced by 49 percent Product range rationalized from 12 to 2 versions Unique part count reduced from 141 to 98 and sum number of parts reduced from three hundred to 189 Assembly/machining time reduced by 55 percent Project unblemished on time, with last version being released in April 1994. Once operational, few problems were encountered and those that did occur were minor in nature.The achievement was attributed by the firm to two decisions The selection of the safe foresee- one that made i t easy to butt on concurrency The selection of the right people- those who were prepared to be open-minded and have some ebullience for the changes. The fellowship now views this as a simple interpret that restored the attainability of an set up product through the use of innovation, brightness and new design techniques by the whole concurrent team. What 4 IIBM give of Business ManagementExamination Paper Project Management is to a fault clear is that the product was subject to technical change in only one area- the materials used. The different benefits have all been cod to the approach tat the firms precaution has taken to its new product development (NPD) Process. The firm felt that the find out has been a success and that this method of working would become an institutionalized methodological analysis. Questions 1. Identify the travel the firm took in this project. How did this contribute to the success? 2.How might the main adverse effects be identified? END OF slit B percentage C employ opening (30 marks) This section consists of Applied guess Questions. Answer all the questions. Each question carries 15 marks. Detailed study should form the part of your answer (Word intend 200 to 250 words). 1. What is the role of strategy in Project Management? 2. Identify the different roles that cost, toll and profit can play in determining project be. END OF prick C 5 IIBM Institute of Business ManagementExamination Paper Project Management IIBM Institute of Business Management Examination Paper Project Management in IT Section A Objective Type (30 marks) This section consists of multiple choice questions and short notes type questions. Answer all the questions. Part One questions carry 1 mark each and Part two questions carry 5 marks each. MM. 100 Part One Multiple choices 1. The friendship areas of Project Management Process Group are a. prep and Initiating b. Executing and Closing c.Monitoring and Controlling d. All of the above 2. To create a prospering project, a project manager mustiness consider a. grasp b. Time c. Cost d. All of the above 3. Which one of the chase is not involved in the top ten skills or competencies of an effective project manager a. People skills b. Leadership c. law d. Technical skills 4. An other(a) name of a phase exit is a _______ point. a. Review b. Stage c. Meeting d. Kill 5. Which process group includes activities from each of the nine knowledge areas? a. Initiating b.Planning c. Executing d. Closing 6 IIBM Institute of Business Management Examination Paper Project Management 6. The project team works together to create the ______. a. Scope statement b. WBS c. WBS dictionary d. Work package 7. __________ is a interlock diagramming technique used to yell total project duration. a. PERT b. A Gantt chart c. Critical Path regularity d. Crashing 8. Which of the following is not a get a line output of project cost management a. A cost sum up b. A cost management plan c. A cost baseline d.None of the above 9. CMMI Stands for a. expertness matureness Model Integration b. mingled Maturity Model Integration c. Common Maturity Model Information d. qualification Maturity Model Information 10. A proposal evaluation sheet is an type of a. RFP b. NPV analysis c. Earned honour analysis d. Weighted scoring model Part Two 1. Define Product Life Cycle. 2. What is Project Integration Model? 3. keep open a note on Gantt charts. 4. What is Project Quality Management? END OF division A 7 IIBM Institute of Business ManagementExamination Paper Project Management Section B Caselets (40 marks) This section consists of Caselets. Answer all the questions. Each Caselet carries 20 marks. Detailed information should form the part of your answer (Word limit 150 to 200 words). Caselet 1 A preliminary predict of costs for the absolute project is $140,000. This estimate is establish on the project manager working about 20 mins per week for six months and other int ernal staff working a total of about 60 hours per week for six months.The customer representatives would not be paid for their assistance. A staff project manager would earn $50 per hour. The hourly rate for the other project team member would be $70 per hour, since some hours normally billed to clients may be needed for this project. The initial cost estimate besides includes $10,000 for purchasing computer software &038 serve from suppliers. After the project is completed, maintenance costs of $40,000 are included for each course of instruction, chiefly to update the information and coordinate the expect the Expert feature and online articles.Projected benefits are found on a reduction in hours consultants spend researching project management information, earmark tools and templates, and so on. Projected benefits are also based on a small increase in profits receivable to new business generated by this project. If each of more than 400 consultants saved right 40 hours e ach year (less than one hour per week) and could bill that time to other projects that generate a conservative estimate of $10 per hour in profits, then the communicate benefit would be $160,000 per year.If the new intranet increased business by precisely 1 percent, using past profit information, increased profits due to new business would be at to the lowest degree $40,000 each year. do projected benefits, therefore, are about $200,000 per year. Exhibit A summarizes the projected costs and benefits and shows the estimated net percent value (NPV), return on investment (ROI), and year in which payback occurs. It also lists assumptions made in performing this preliminary financial analysis. All of the financial estimates are rattling encouraging.The estimate payback is within one year, as requested by the sponsor. The NPV is $272,800, and the discounted ROI based on a three-year system manners is excellent at 112 percent. Discount rate 8% Assume the Year project is through in a bout is months 0 Costs 140,000 Discount 1 figure Discounted 140,000 costs Benefits Discount factor Discounted benefits Discounted 0 1 0 1 40,000 0. 93 37,037 2 40,000 0. 86 34,294 3 40,000 0. 79 31,753 Total 243,084 200,000 0. 93 186,185 200,000 0. 86 171,468 200,000 0. 79 158,766 515,419 (140,000) 148,148 137,174 127,013 8 IIBM Institute of Business ManagementExamination Paper Project Management benefits costs additive (140,000) benefits-costs Payback year 1 112% Discounted life cycle ROI&8212Assumptions Costs PM (500hours, $50/hour) Staff (1500 hours, $70/hour) Outsourced software &038 work Total project costs (all employ in year 0) Benefits consultants Hours saved $/hour profit Benefits from saving time Benefits from 1% increase in profits Total annual projected benefits Questions 1. What according to you are the factors that can hamper the profit crop related with the project? 2. Mention some strategies to further improve the projects turnover. ,148 in 145,322 272,336 NVP hours 25,000 105,000 10,000 140,000 400 40 10 160,000 40,000 200,000 9 IIBM Institute of Business Management Examination Paper Project Management Caselet 2 Many organizations spend a great deal of time and property on training efforts for general project management skills, but after the training, project managers may still not know how to tailor their project management skills to the organizations particular needs. Because of this problem, some organizations develop their own internal information engine room project management methodologies.The PMBOKR Guide is a standard that describes best practices for what should be done to manage a project. A methodology describes how things should be done, and different organizations a lot have different ways of doing things. For exercise, after implementing a systems development life cycle (SDLC) at Blue Cross Shield of Michigan, the Methods department became aware that developers and project managers were often working on different info rmation engineering science project in different ways. Deliverables were often missing or looked different from project to project.They may have all had a project charter, status report, technical documents (i. e. , database design documents, user interface requirements, and so on), but how they were producing and delivering these deliverables was different. There was a general deprivation of consistency and a need for standards to fade both new and experienced project managers. Top management decides to authorize money to develop a methodology for project managers that could also become the basis for information technology project management training within the organization.It was also part of an general effort to help raise the companys Software Capability Maturity Model level. BlueCross BlueShield of Michigan launched a three-month project to develop its own project management methodology. Some of the project team members had already received PMP certification, so they decid ed to base their methodology on the PMBOKR Guide 2000, making adjustment as needed to best describe how their organization managed information technology projects.See a complete article on this project on the companion blade site for this text. Also see the Suggested information to review the State of Michigan Project Management Methodology, which provides another good example of an information technology project management methodology. Many organizations include project management in their methodologies for managing Six Sigma projects. Other organizations include project management in their software development methodologies, such as the demythologized Unified Process (RUP) framework.RUP is an interactive software development process that focuses on team productivity and delivers software best practices to all team members. According to RUP expert acme Cottrell, RUP embodies industry-standard management and technical methods and techniques to provide a software engineering proc ess in particular suited to creating and maintaining componentbased software system solutions, Cottrell explains that you can tailor RUP to include the PMBOK process groups.Specifically, IBM Rational, the creators of RUP, found that it could adjust RUP input artifacts with PMBOK process inputs, RUP steps with PMBOK process tools and techniques, and RUP resulting artifacts with PMBOK process outputs. Questions 1. According to you what are the skills that needed for the project management of an organization? 2. How the six sigma project became a right-hand tool in very advanced kind of project management? END OF SECTION B 10 IIBM Institute of Business ManagementExamination Paper Project Management Section C Applied Theory (30 marks) This section consists of Applied Theory Questions. Answer all the questions. Each question carries 15 marks. Detailed information should form the part of your answer (Word limit 200 to 250 words). 1. What is cost? What is the importance of Project co st Management and explain basic principles of Cost Management. 2. Define the following a. Resource Histograms b. Project communicating Management END OF SECTION C S-2-260211 11 IIBM Institute of Business Management