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Name - Akshay Surange Reg No - 19MCA10049 Software Project Management Assignment 1

The document contains answers to questions about software project management. It defines contract management as managing all aspects of contracts from vendors, partners, customers or employees. It differentiates contract management, which ensures terms and commitments in a contract are adhered to, from technical project management, which focuses on delivering projects on time and on budget. It also defines payback period, net present value, and return on investment (ROI), providing examples of calculating each. Key challenges for a project manager from their perspective are keeping teams on the same page and aligned, unrealistic deadlines, and insufficient team skills.

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Akshay Surange
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52 views

Name - Akshay Surange Reg No - 19MCA10049 Software Project Management Assignment 1

The document contains answers to questions about software project management. It defines contract management as managing all aspects of contracts from vendors, partners, customers or employees. It differentiates contract management, which ensures terms and commitments in a contract are adhered to, from technical project management, which focuses on delivering projects on time and on budget. It also defines payback period, net present value, and return on investment (ROI), providing examples of calculating each. Key challenges for a project manager from their perspective are keeping teams on the same page and aligned, unrealistic deadlines, and insufficient team skills.

Uploaded by

Akshay Surange
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Name - Akshay Surange

Reg No - 19MCA10049

Software Project Management

Assignment 1

1. Define contract management.

Ans - Contract Management is the Management of contracts from vendors,


partners, customers, or employees – and at its most basic, contract management
software can be defined as an electronic version of a filling cabinet. It supports
the entire customer and contract lifecycle which covers any process that
contributes, creates or utilizes contract data. Effective Contract Management
requires an understanding of every step in the contract process, including any
step that contributes, creates, or utilizes contract data.

2. Differentiate contract management and technical project


management.

Ans - Project Management is all about managing all aspects of the project to
ensure that it is completed and to deliver the result within the main project
constraints ( Scope, Time, Cost & Quality) which are basically in accordance to
the contract

Contract Management is part of procurement function where to it is to ensure


that terms and commitments agreed in the contract are adhered to. Contract
Managers are also generally responsible for ensuring that projects are delivered
on budget or delivered profitably. and sometimes looking after the economics of
project and to manage claims and disputes against the contract.

3.What do you understand by payback period?

Ans- The payback period refers to the amount of time it takes to recover the
cost of an investment. Simply put, the payback period is the length of time an
investment reaches a break-even point.
The desirability of an investment is directly related to its payback period.
Shorter paybacks mean more attractive investments.

Calculating Payback Period

Payback Period = (Investment Required / Annual Project Cash Inflow)

4.When Net Present value is calculated for a project?

Ans- Net present value of a project can be calculated when it starts establishing
profit. Like when there is a cash flow we can start calculating the Net present
value of the project.

The formula for calculating NPV is as follows

5. What would be the ROI for the software project development if the net
profit is $60,000 for 3 years and the total investment is $100,000? Evaluate
it.

Ans - Given Net profit for Three Years - 60,000$

Total Investment - 100,000$

ROI = (Net Profit/Total Investment) * 100

= (60,0000/100,000)*100

= 60 % (For three Years)

For a single year it would be 20


6. Can you summarize the problems with software project from manager’s
point of view?

Ans -

The challenges Faced by a project manager are as follows:

1. Keeping Teams on The Same Page


2. Poorly Defining the Goals And Objectives
3. Unrealistic Deadlines
4. Finding The Right Project Management Software
5. Scope Creep is Insidious And Creepy
6. Insufficient Team Skills
7. Miscommunication Cause Conflicts
8. Risk Management
9. Challenges of Teamwork
10.Lack of Accountability

7. A public library is considering the implementation of a computer


based system to help administer book loans at libraries.

i) Identify the stakeholders.

ii) List the objectives of the project.

iii) Examine and measure the success and failure of the project.

Ans- The Stake Holders in this project are the following:-

- Director of Library

- The finance Dept.

- The users of the computer system

The objectives are:-

Facilitating the library work

The measures of success and failure of the project:-

The labour work

The amount of work (If the work increases and labour remains same then there
is failure.)
8. The status of cash flow for four projects is given in the following
table. (-ve figures at the end of year 0 represent initial investment).

On the basis of data,. You may assume discount rate to be as 10%.calculate


the following.

1. Net Profit (NP)

2. Payback Period (PP)

3. Return on Investment (ROI)

4. Net Present Value (NPV)

Ans = cash flow for first year = -100000 + 10000 +10000+10000+20000


+100000

Net profit = 1,50,000 - 1,00,000 = 50,000 (for fisrt company)

Roi 33%

for second company profit 100000

roi 9.09%

third company - 75000

roi 33%

fourth 50000

roi 38%

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