Mba Assignment Answers

Master of Business Administration - MBA Semester 3

PM0011 - Project planning and scheduling

(4 credits)

(Book ID: B1237)

Assignment - Set 1

Marks 60

Note: Each Question carries 10 marks. Answer all the questions.

Q1. Explain the importance of planning for projects.

Importance of Planning for Projects

Project planning is an element of project management focused on detailed scheduling of tasks and resource assignments. A project plan starts with a project requirements document and scope definition, both of which are prepared during the project initiation process. Using these initial documents, a project planner determines what tasks are necessary to execute the project and their dependencies (also known as the project’s work breakdown structure). The planner then estimates the duration of each task. The tasks, durations, and dependencies form the project plan. This step can be standardized by using project templates that define the starting work breakdown structure for the project. Gantt tools are used to graphically manage the project plan. Once the initial plan is available, the project manager assigns resources to the tasks (known as resource assignment). Following this step, the costs of each task can be estimated. The project plan can be changed to achieve the most optimal resource usage, to account for resource availability, or to reduce costs while still achieving the project’s deadlines and objectives. Project planning is important for longer projects that consist of many tasks and involve many resources; shorter or more straightforward projects may not require any formal planning at all.

The successful realization of a project will depend on careful and continuous planning. The activities of designers, manufacturers, suppliers and contractors, and all their resources, must be organized and integrated to meet the objectives set by the promoter and/or the contractor.

The purposes of planning are to persuade people to perform tasks before...