Academic year 2024-2025 (ODD Sem)

DEPARTMENT OF
INDUSTRIAL ENGINEERING & MANAGEMENT
Date 19 FEB 2025 Maximum Marks 65
Course Code 21IM75IM Duration 120 Min
Sem VII Improvement Test
PROJECT MANAGEMENT -Scheme of Valuation
Note:
1. Answer all the Questions.
PART – A
Sl. Questions M BT CO
No.
1 Which costs are included in project life cycle costing? 02 L2 CO1
A Initial investment, operating costs, maintenance costs, and disposal costs.
2 What are the four main stages of Product Lifecycle Management (PLM)? 02 L2 CO1
A Concept, Design & Development, Production, and End-of-Life.
3 What is resource levelling in project scheduling? 02 L2 CO2
A It is a technique used to resolve resource conflicts by adjusting task start and
finish dates.
4 What are the two major network-based scheduling techniques? 02 L2 CO1
A Critical Path Method (CPM) and Program Evaluation and Review Technique
(PERT).
5 What is project implementation scheduling? 02 L2 CO2
A Project implementation scheduling is the process of defining, sequencing, and
allocating time for various project activities to ensure timely project completion.

PART – B
Sl. Questions M B CO
No. T
1. A manufacturing company is launching a new product and needs to plan its 15 L3 CO3
project schedule efficiently. As a project manager, explain the steps involved in
project implementation scheduling and discuss how effective time management
and resource allocation methods can optimize the project timeline.
A Steps in Project Implementation Scheduling:
1. Define Project Scope: Identify deliverables and milestones.
2. Break Down Work Structure: Use Work Breakdown Structure (WBS)
to define tasks.
3. Sequence Activities: Identify dependencies using techniques like
Precedence Diagramming.
4. Estimate Time for Activities: Use expert judgment, historical data, or
estimation techniques.
5. Develop the Schedule: Apply scheduling techniques like Gantt charts,
Critical Path Method (CPM), or PERT.
6. Allocate Resources: Assign personnel, equipment, and budget
efficiently.
7. Monitor and Control Schedule: Track progress and adjust schedules
using tools like Earned Value Management (EVM).
 Academic year 2024-2025 (ODD Sem)

Effective Time Management Techniques:

• Prioritization of Tasks: Using Eisenhower Matrix or ABC prioritization.
• Time Blocking: Allocating specific time slots for each activity.
• Avoiding Scope Creep: Ensuring changes in scope do not impact
deadlines.
• Buffering for Uncertainty: Adding contingency time for risks.
Resource Allocation Methods:
• Resource Leveling: Adjusting task start/end dates to avoid resource
overload.
• Resource Smoothing: Adjusting activities within slack time to balance
resource use.
• Critical Chain Project Management (CCPM): Focusing on resource
constraints and adding buffers.
By integrating scheduling, time management, and resource allocation, project
managers can ensure timely and cost-effective project completion.
2. A construction company is implementing a new infrastructure project. How can 10 L3 CO3
different scheduling techniques and PLM (Product Lifecycle Management)
concepts be used to optimize project planning? Additionally, explain the
significance of life cycle costing in project management.
A Different Scheduling Techniques:
1. Gantt Chart: A visual representation of tasks over time.
2. Critical Path Method (CPM): Identifies the longest sequence of
dependent activities to determine the shortest completion time.
3. Program Evaluation and Review Technique (PERT): Used when
activity durations are uncertain, providing optimistic, pessimistic, and
most likely estimates.
4. Line of Balance (LOB): Used for repetitive projects like construction,
ensuring steady workflow.
PLM (Product Lifecycle Management) Concepts in Project Scheduling:
• Concept Stage: Initial feasibility study and project approval.
• Design & Development: Detailed design, simulations, and prototyping.
• Production Phase: Planning production schedules and supply chain
integration.
• End-of-Life: Managing disposal or recycling of assets.
Significance of Life Cycle Costing (LCC) in Project Management:
• Cost Estimation: Helps in budgeting by considering all project phases.
• Decision Making: Supports investment decisions by comparing
alternatives.
• Long-Term Planning: Identifies cost-effective solutions over the
project’s lifespan.
• Risk Management: Reduces unexpected expenses through predictive
cost analysis.
By using appropriate scheduling techniques, PLM integration, and LCC, project
managers can enhance efficiency, minimize costs, and improve decision-making.
 Academic year 2024-2025 (ODD Sem)

3. A project consists of the following activities with their estimated durations (in 15 L4 CO4
days) and dependencies:
Duration
Activity Predecessor(s)
(Days)
A - 5
B A 4
C A 6
D B 3
E B, C 7
F D, E 5
Tasks:
1. Construct the project network diagram.
2. Identify the Earliest Start Time (ES), Earliest Finish Time (EF), Latest
Start Time (LS), and Latest Finish Time (LF) for each activity.
3. Determine the critical path and the total project duration.
A (Start)
│
▼
[A] --- 5 days ---> [B] --- 4 days ---> [D] --- 3 days --┐
│ │ ▼
└---------- 6 days ----------► [C] [F] --- 5 days ---> (Finish)
│
└----------- 7 days ----------► [E]

Critical Path Identified: A → C → E → F

Total Project Duration: 23 days
4. A project consists of the following activities with their estimated time durations 15 L4 CO4
in weeks:
Optimistic Most Likely Pessimistic
Activity Predecessor
(a) (m) (b)
A - 2 4 6
B A 3 6 9
C A 4 5 6
D B 2 3 8
E C 3 4 5
 Academic year 2024-2025 (ODD Sem)

F D, E 4 6 8
Tasks:
1. Construct the project network diagram.
2. Compute the Expected Time (TE) for each activity
3. Identify the Critical Path and the Project Completion Time.
A (Start)
│
▼
[A] --- 4 weeks ---► [B] --- 6 weeks ---► [D] --- 4 weeks ---► [F] --- 6
weeks ---> (Finish)
│ │
└──► [C] --- 5 weeks ---► [E] --- 4 weeks ─┘

Using the PERT formula:

Activity a m b TE Calculation TE
A 2 4 6 (2 + 4×4 + 6)/6 = 4 4
B 3 6 9 (3 + 4×6 + 9)/6 = 6 6
C 4 5 6 (4 + 4×5 + 6)/6 = 5 5
D 2 3 8 (2 + 4×3 + 8)/6 = 4 4
E 3 4 5 (3 + 4×4 + 5)/6 = 4 4
F 4 6 8 (4 + 4×6 + 8)/6 = 6 6

Critical Path: A → B → D → F
Project Completion Time: 20 weeks
BT-Blooms Taxonomy, CO-Course Outcomes, M-Marks
Particulars CO1 CO2 CO3 CO4 CO5 L1 L2 L3 L4 L5 L6
Marks
Max Quiz 6 4 4 6
Distribution
Marks Test 15 25 10 05 20 25
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