PM0010-Introduction to Project Management

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Master of Business Administration - MBA Semester 3
PM0010-Introduction to Project Management
(Book ID: B1936)
Assignment (60 Marks)
Note: Answers for 10 marks questions should be approximately of 400 words. Each question is
followed by evaluation scheme. Each Question carries 10 marks 6 X 10=60.
Q1. a. Describe the characteristics of a project
b. Explain the triple constraints in project management.
Answer. a. Characteristics of a project
b. Triple Constraints:
All projects are carried out under certain constraints – traditionally, they are cost, time and scope.
These three important factors (commonly called "the triple constraint") are often represented as
a triangle.
Q2. Write short notes on:




Project development
Project organisation
Factors affecting collection of market-related information
Term loans as a means of financing projects.
Answer. Project Development is the process that takes a transportation improvement from
concept through construction. There are several goals for this process:
 To ensure context sensitivity though an open, consensus-building dialog among project
proponents, reviewers, the public, and other parties.
 To foster thinking beyond the roadway pavement to achieve the optimum accommodation
for all modes.
 To encourage early planning, public outreach, and evaluation so that project needs, goals
and objectives, issues, and impacts can be identified before significant resources are
expended.
Q3. Explain the L-M approach of SCBA.
Answer. L-M Approach:
I.M.D Little & J.A.Mirlees have developed this approach for analysis of Social Cost-Benefit in
Manual of Industrial Project Analysis in Developing Countries and Project Appraisal & Planning for
Developing Countries.
The L.M. Approach to Social Cost has considerable similarity with the UNIDO approach. In the first
place, both the approach use shadow (accounting) prices for foreign exchange savings and
unskilled labor in particular. Similarly, both consider factor of equity. And finally both the
Q4. Discuss the financing of a power project.
Answer. Project financing is often referred to as “non-recourse” or “limited recourse”.
Nonrecourse lending is however inconceivable as it is unlikely that the lending institutions will
enter into financing arrangements without some sort of recourse or remedy to the assets of the
borrower in the event of a breach. The term is therefore rarely used. The more apt term would be
the limited recourse financing, where lenders’ remedies are restricted to the secured assets of the
project company only.
Project Finance techniques have been stated to be the best option for the financing of power
projects. Some of the possible reasons that explain this are considered below:
1. Project Finance which is sometimes called ‘off-balance sheet financing does exactly what its
alternative name implies: it takes the risks off the balance sheet of a company, so that a failure of
Q5. Explain the types of procurement contracts.
Answer. A contract is nothing but a legally binding agreement between two or more parties.
Usually one party is known as a buyer and another as a seller. The contract is the key between the
buyer and seller relationship. It determines the way they will deal with each other.
Procurement contracts can be broadly divided into three categories:
 Fixed Price Contract
 Cost Reimbursable Contract, and
 Time and Materials
Fixed Price Contract
A Fixed Price Contract is also known as a lump-sum contract. This type of contract is used when
there is no uncertainty in the scope of work. Once the contract is signed, the seller is legally bound
to complete the task within the agreed amount of money or time. Since the seller has to complete
the task within a fixed amount, he bears the risks.
Q6. What is the purpose of project evaluation? Which the four dimensions of the project explain
the purpose of project evaluation?
Answer. Purpose:
1. Analyse the process of implementation, focusing on participation of the community
2. Analyse the impact or changes that have occurred within beneficiary households and the
community
3. Identify problems and constraints that have been encountered
Winter-2015
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