Q.No.1 Why is project management important?

Also, discuss the importance of project

identification.
Ans. Project management: Project management simply means managing the project it
includes planning organising directing and controlling the activities of project it also use
various tools to make project effective and successful.

Importance of project management.

• Optimum utilisation of resources: Project management helps in utilising the resources
and reduce the wastage of resources used in project. By managing The project it
ensures that how much resources where and when require which reduce its wastage.
• Reduce cost and time : By optimum utilisation of resources cost of project
management reduce and it ensures that which activity or task perform on time it
reduces over task and complete the project on time.
• Increased productivity: It ensures which task perform when and whom which increase
the productivity of employees. And it boosts teamwork and also enhanced the quality
of the project.
• Clear goal definition: It ensures that everyone no about the objective which is
achieved by them. All stakeholders have understanding about the scope and objective
of project.
• Increased accountability: It divides the responsibility among team members And
inform them about their tasks which increased the accountability of the project
between team members.
• Improved communication: It also increased communication between manager and
employees and also with stakeholders which reduce the chances of misunderstanding
and disputes.

Project identification: Project identification is simply a process of identifying the project

which define or achieve the objective Of the organisation. It is the first and fundamental step
of project life cycle. It ensures that right project should be chosen which helps in achieving
the objective of company.

Here are the importance of project identification,

• Risk reduction : It helps in reducing the risk. Provide the opportunity to select the
best project which suit organisational goal. By analysing the project Chances of risk
in future reduced.
• Basis of planning: It is the first step of project management. It provide base 4
planning. First identify the suitable project only after that process of project
management starts. It also provide clear direction for project execution. It provides
the project goal, scope and objective which place role of foundation for planning.
• Alignment with strategic goals : It ensures that the project must be aligned with the
objective of the company. And helps in achieving the mission, vision and long term
goal of organisation. It also avoid the risk of investing in Those project which do not
contribute in the growth of company.
• Problem solving: It also helps in identifying the problem and in find out the best
solution to handle the challenges.
 • Grabbing opportunities: It helps in identifying the available opportunity s Which
helps in innovation , growth and competitive advantage.
• Stakeholders satisfaction: It Understand though need of the stakeholders and focus on
their satisfaction. It also ensures that project must be Meet the requirement of the
parties.

Q.No. 2 Explain the life cycle of a project.

Ans. There are mainly 5 phases in the life of a project. These are given below:
• Initiation
• Planning
• Execution
• Monitoring and controlling.
• Closing.
Explanation:

• Project initiation phase: In this face the manager define the purpose of the project. It
also define the need of stakeholders and the objective of the company. Under this
phase, Research is done to determine the Project is feasible or not and it should be
selected or note.
For this purpose financial study, cost analysis , feasibility study etc have to be
undertaken. A clear detail about the project made and it proceed for approval.

• Project planning phase: Under this phase, road map of project is made. A-systematic
plan is built for undertaking the project. It identifies the activity and task which are
performed during completion of project. It's time schedule and distribution of task he
is also explain in this phase. It also provides financial plan, research plan , Quality
plan and risk plan which identify the need of finance and improve the quality of
project and also mitigate the risk available in the project. It prepares the budget which
reduce Extra expenses It provides a blueprint how all the activities have done and how
to monitor and control the project.

• Project execution phase: Under this step plan will be execute . It implements the plan.
Tasks have to be assigned and everyone Have to be aware about their job Which make
them accountable and responsible for their tasks. It helps in establishing the
coordination among the management and the employees. It ensures that there is the
establishment of effective communication between the management employees and
the stakeholders of the project which reduce the chances of any disputes and
misunderstanding. It ensures that the activities it's undertaken properly and perfectly.
It also ensures the completion of the project.

• Project monitoring and controlling phase: This ensures that the project is going
according to the plan or not. It track the progress of the project to ensure its
effectiveness. It monitor the quality of the project and ensures that whether it is done
on time or not. It also controls the cost of the project and ensures that there is no
wastage of money and resources. It report to stakeholder about the progress of project.
It made adjustment and changes as per the requirement for achievement of objective
of company.
 • Project closure phase: Its purpose is to close the project after attaining the objective of
company. It also complete the documents for further use. After conducting post
project evaluation it deliver the final product to stakeholders. There will be
celebration of achieving success.

Q.No. 3 Define the term scheduling. What are the key steps included in risk management
process?
Ans. Scheduling: It is the process of planning the time for completing the task. It is done to
ensure that the task and the project is completed on the time. It is basically a type of timetable
on the basis of which activities and projects are undertaken. It plans the time according to that
time activities and task have to be performed so that the project is completed before the
deadline. The main objective of scheduling is to reduce the wastage of resources and time. It
also ensure that the project is completed effectively and efficiently. It ensure the optimum
utilisation of resources It also provides if framework of activities and also explain the
dependency of activities on each other. It tells which activity done before and which are
perform after those activities. Gantt chart , Critical path method And project management
software are common tools which are used during scheduling.

Importance of scheduling

• Time allocation: It explain how much time required to perform which activity. And
also which task is undertaken when. It reduce the time and and hence the quality of.
• Task allocation: It also allocate task. It tells which task is done by whom and make
employees accountable and responsible for their work.
• Task dependencies: It helps the company to prioritise the activities. It tells which
activity is depend on which one. Which is more important.
• Resource allocation: It assign the resource like Equipment and materials as per the
requirement.

Key steps included in the risk management process

Risk management process: It is the process of identifying managing and reducing the
risk that may affect the project. It enhance the chance of success of the project.

Key steps:

• Recognition of assets at risk: The foremost step in the risk management technique is
to carefully identify the assets which might generate risks in project operations. These
assets may fall under various groups, such as tangible and intangible assets, movable
and immovable assets etc.
• Valuation of assets: The assets identified and grouped in the previous step are to be
valued and categorised into different classes such as critical and essential.
• Identifying the intimidation: Threats can be distinct as anything that contributes to the
intermission or devastation of any service/product. Various compulsions can be
grouped into environmental, internal, and external threats.
• Risk consideration: The process of risk appraisal includes not only assessment as to
the provability of occurrence but also the assessment as to the impending severity of
loss, if risk materialises. This will support in determining the appropriate risk
lessening strategy, the residual risk, and the investment required to alleviate the risk.
 • Emergent strategies for risk management: After risks identification and assessment,
one must apply various risk management techniques such as risk avoidance, risk
reduction, risk retention and risk.

Q.No.4 (a) Define quality. What are the key attributes of quality?
Ans. Quality : Quality simply means the state of degree which expected the satisfaction of
consumers.
Crosby defined it as, “ Quality is a conformance to requirement or specification.”

Key attributes of quality

• Durability: Durability of product also define its quality. Those one which damage
early considered less quality or which one last for long time consider best one. For
example shoes which Last for long time considered good one.
• Freshness: Freshness of perishable goods consider their quality. Those fruits
vegetables which fresh considered best. But those one which are stale are considered
as bad quality vegetable and fruits.
• Reliability: The product which meet the expectation of customer considered as best.
The quality of product is also depend on the fulfilment of expectation of customers.
• Features: Dose product whose have More and best features than its competitor will
be considered as best quality product. For example which smartphone has best and
more features then other will be best one.
• Customer satisfaction: The product which provides the satisfaction To the customer
will be consider as qualitative product. Customer provide positive feedback when
their requirement is fulfilled.
• Serviceability: After sales services has also great role in considering the quality of
product. Those product which provide after sales services to its customers get
positive feedback from customers. This service can be in the form of repair and
maintenance of their product. Best quality product also provide warranty and
guarantee services to its customer. Now days customers only trust those product
which provide warranty and guarantee to their product.

(b) How will you design an effective PMIS?

Ans. PMIS: PMIS means project management information system. It is a type of software
or a tool Which is used by managers to plan, execute and monitor the activities of project.
it collects all the information of project and take decisions regarding the project. It also
helps in monitoring the activities of the project.

Design an effective PMIS

• Capture data : This involves collect data from primary as well as secondary
sources. First store all the important data.
• Processing data into information: After collecting data get important information
from it.
• Storing data/information/ reports: After collecting important information store this
report in effective manner.
• Distribute/ communicate information: After making report distribute this report and
communicate with stakeholders and managers.
Each subsystem Consists the following components

• Hardware: A computer or input, output and storage device.

• Software: Intangible component of computer and also set of instruction which tells
the computer how to operate.
• People: IT professionals who analysis informations.
• Procedure: It includes different applications and security measures to achieve secure
operation system.

Q.No. 5 Describe the process of project performance evaluation. Also, briefly discuss the
purpose of project evaluation and Control.
Ans. Performance evaluation: It is a process of examining the performance of
organisational tasks and evaluate that whether it achieve its objective or not.

Process of performance evaluation.

• Establish performance standards: First of all standards have to be set and it is
expected that employees meet those standards. These standards must be clear
measurable and achievable. The job of employees have to be clear.
• Communicate performance standards: Performance standards have to be
communicated and discuss with the employees to make them clear about it. It is
important to make clear the role and the responsibility of employees.
• Measure performance: Performance of employees must be monitor and major
throughout the evaluation period. It is important to inform them there mistakes and
increase their efficiency.
• Compare performance to standards: After monitoring their performance it should be
compared with the existing standards. And reduce the deviation between them.
• Discuss the appraisal with employees: Share the result of their performance and
discuss it with the employees and also get review and feedback them. It establish
good communication among the management and its employees which really affect
the performance of employees.
• Implement personnel action: Identifying the development needs and implement the
action. Use the evaluation to find out the actual areas where training required. Also
recommend some training programs to and hence their efficiency.

Purpose of project evaluation and control

• Utilisation of resources: Project evaluation and control reduce the wastage of

resources. It has great control over the activities of project.
• Improving productivity: it also increase the productivity level of employees. It is
expected that employees meet the existing standards when they make mistakes they
are informed Which has very important role in increasing their efficiency of
performing a task.
• Assessing in taking decision: Project evaluation and control helps in taking various
types of types of decision related to the project. It tells when and where the main
focus required. It also provide data which is important in taking decision.
• Motivation: By discussing and communicating the result with the employees and
getting their review over The situation increase the feeling of importance in
employees which really motivate them towards their job.
 • Identifying training needs: It also find out the area where the training and the
development is required.

Q.No. 6 (a) Briefly discuss the steps to close the project.

Ans. Here are the following steps to close the project,

• Formally transfer all deliverables: The first step of closing a project is to transfer all
deliverables to the client. Go through the deliverables and identifying them. And it is
important to make sure that whether they are completed or not.
• Confirm project completion: It ensures that the project is completed and the
objective of performing the project is also achieved. It is important to get permission
from the client and the stakeholders before closing the project.
• Review all contracts and documentations: It is important to review all the contracts
and documentation before closing the project and also important to ensure that the
parties paid for the project And there is no outstanding payment remain.
• Release resources: Release the resources from the suppliers team members and
contractors etc to close the project. And also inform them about the closeness of the
project and notify them that their job is completed. And now they are free from the
work of project .
• Archive project documentation: Compile all the important documentation reports
regarding the project and store them for future use. It is important to keep the report
of opportunities and problems faces during the completion of the project. It is not
only required for future reference but also important for taking decision and helpful in
legal leadership.
• Celebrate: Celebrate the closeness and the completion of the project with the team
members. And also conduct a recognisable ceremony to recognise the employees
work and appraise their work and also motivate them to increase their moral.

(b) Discuss the advantages of using PM software packaging.

Ans. PM software packaging: Project management software packaging is it tool which is
build to track the progress of project team and schedule of the project.
It provide a clear picture of project progress.

Advantages of using PM software packaging

• Increased visibility: This software store all the information about the project in
effective manner which increase the visibility of this. It use visuals like images
graphs which make it more understandable.
• Reduced errors: It store the data without any error which reduce the chances of
mistakes.
• Enhanced collaboration: It not only stores messaging, reports, tasks and assignments
but also increase the communication between team member and align them with the
goal of project.
• Cost effectiveness: This software not only reduce the cost but also reduce the time
taken to maintain the project report. It provide readymade the solutions which is
important for maintaining the documentations of project.
• Improved efficiency: It also increase the productivity level and efficiency of the
team member. Scheduling, tracking progress and planning types of task helps the
employees to understand their job and there mistakes.