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Tuesday 7 August 2012

Project management_IIBM 2



IIBM Institute of Business Management

Examination Paper: Project Management

1

IIBM Institute of Business Management

IIBM Institute of Business Management

Examination Paper MM.100

Project Management

Section A: Objective Type (30 marks)

· This section consists of multiple choices questions and short answer type questions.

· Answer all the questions.

· Part One questions carry 1 mark each and Part Two questions carry 5 marks each.

Part One:

Multiple choices:

1. During _________formal tools and techniques were developed to help and manage large

complex projects.

a. 1950s

b. 1980s

c. 1920s

d. 1990s

2. PERT stands for:

a. Program Evaluation and Reverse Technique

b. Progress Evaluation and Review Technique

c. Program Evaluation and Review Technique

d. None of the above

3. The most basic model of any Operating System is:

a. Project Model

b. Input-output model

c. Output-input model

d. None of the above

4. Overall complexity =

a. Organizational complexity*resource complexity*technical complexity

b. Organizational complexity+technical complexity-resource complexity

c. Technical complexity+resource complexity/organizational complexity

d. Organizational complexity*resource complexity/technical complexity

5. Relevant areas of the APM body of knowledge are:

a. Quality Management

b. Budgeting and cost Management

c. Project Cost Management

d. Both ‘a’ and ‘b’

Examination Paper: Project Management

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IIBM Institute of Business Management

6. Costs associated with the planning process include:

a. Planer’s tools

b. Opportunity cost

c. Planned labour and associated expenses

d. All of the above

7. CPA stands for:

a. Critical Path Analysis

b. Common Path Analysis

c. Critical Path Algorithm

d. Common Problem Analysis

8. The project duration with the normal activity time is ____days.

a. 11

b. 16

c. 17

d. 21

9. The nature of the work organization is important as it:

a. Defines responsibility and authority

b. Outlines reporting arrangements

c. Determines the management overhead

d. All of the above

10. Matrix Management was invented by

a. Mullins

b. Belbin

c. Drucker

d. Frederick Taylor

Part Two:

1. Define ‘Cost Estimating Techniques’.

2. Write a note on ‘Critical Path Analysis’.

3. Differentiate between General Management and Project Management.

4. What is ‘Team Life Cycle’?

END OF SECTION A

Examination Paper: Project Management

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IIBM Institute of Business 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

It’s a Risky Business

Four friends wanted to start a business. After much discussion, they had hit upon the idea of launch a

mail-order toys and games business. They were in the development stage of their business plan and

wanted to be sure that they had been through with their planning. To reinforce this, they had just received

a letter from a group of venture capitalists, agreeing to fund the start up. It concluded its review of their

plan by stating:

The business plan presents a credible opportunity for all involved and we are prepared to approve the

funding request, subject to a risk analysis being carried out on the project 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 risk analysis process.

They started with identifying the key risk elements that could face the business during in start up phase.

They considered the process between the time that they received the funding and day one of trading. What

could possibly go wrong? Lots of things. They brainstormed the possibilities and recorded them. They

then considered the effect that these would have on the project as a whole. The list they generated

prothings going wrong and not enough making sure that the positive steps towards the business opening

were happening. 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 basis could they rank each

risk, in order to identify the most important risks for which they would develop mitigation and

ownership?

They decided to use a table to show the risk event, the likelihood, the severity and by multiplying the two

providing a risk priority number (RPN). This would the allow ranking of the risk elements. For the three

highest ranked elements, the group then generates a mitigation process with someone in the group taking

ownership of that process.

As can be seen, the top three risks were identified and mitigation tasks put in place to either 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 agreed to monitor that set of events and ensure that the mitigation is put into place before

the project suffers from that event occurring.

Questions:

1. What further methods could have been used to generate ideas for the identification part of the risk

process?

2. What should happen as the project progresses to manage risk?

Examination Paper: Project Management

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IIBM Institute of Business Management

Caselet 2

Fast-track Product Redevelopment at Instron

Background

Instron designs and manufactures machines for testing the properties of all types of material. One

particular plastic testing instrument has been selling around 250 units per year worldwide. In 1992 at the

height of the recession, with margins being squeezed and sales volume dropping, Instron decided to

redesign the instrument to reduce its cost and make it easier to manufacture.

The Project

Instron began to undertake change in the late 1980s, which included a programme to institute concurrent

new product development. This was accompanied by pressure for cost reduction, the introduction of

manufacturing changes, and the breaking of the firm into business teams.

The team was highly transient and changing environment, there were few restrictions on the way the

redesign project had to be handled. It was one of the first projects in Instron to be run from the beginning

as a concurrent engineering project. A small multi-functional team was formed, consisting of a

manufacturing engineer, a design engineer, a marketing engineer and a draughtsman. The design rief was

to improve the ease of manufacture of the product such tat a cost reduction of 20 percent could be

achieved.

The team was co-located in an area adjacent to the manufacturing facility. Although there was some

initial resistance, the comment was made that ‘they don’t know how they ever worked without it’. The

ease of communication and sharing of ideas became a more natural part of working life.

Adverse Effects

The principles of concurrency were, in general, favorably accepted by departments downstream of the

design process and with some notable exceptions, unfavorably viewed by the design department.

Individuals had concurrency imposed on them in the initial projects selected; be tried out. Senior

management staff 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. Passive resistance- summarized as ‘don’t show reluctance to apply the new ideas, attend all the

group meetings, nod in agreement, then carry on as before.

2. Active resistance- ‘do what you like, but don’t ask me to do it’

3. Undermining the initiative- through overstating the apparent problems.

They began by carrying out brainstorming sessions with manufacturing engineers, buyers, members of the

shop floor, suppliers and additional design engineers, to find new and innovative ways to improve the

product. 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 team’s action were:

· Cost reduced by 49 percent

· Product range rationalized from 12 to 2 versions

· Unique part count reduced from 141 to 98 and total number of parts reduced from 300 to 189

· Assembly/machining time reduced by 55 percent

· Project completed 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

success was attributed by the firm to two decisions:

· The selection of the right project- one that made it easy to demonstrate concurrency

· The selection of the right people- those who were prepared to be open-minded and have some

enthusiasm for the changes.

The company now views this as a simple project that restored the profitability of an established product

through the use of innovation, ingenuity and new design techniques by the whole concurrent team. What

Examination Paper: Project Management

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IIBM Institute of Business Management

is also clear is that the product was subject to technical change in only one area- the materials used. The

other benefits have all been due to the approach tat the firm’s management has taken to its new product

development (NPD) Process. The firm felt that the project has been a success and that this method of

working would become an institutionalized methodology.

Questions:

1. Identify the steps the firm took in this project. How did this contribute to the success?

2. How might the main adverse effects be identified?

END OF SECTION B

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 the role of strategy in Project Management?

2. Identify the different roles that cost, price and profit can play in determining project costs.

END OF SECTION C

Examination Paper: Project Management

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