IIBM Institute of Business Management Examination Paper 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’ MM.100
IIBM Institute of Business Management
Examination Paper: Project 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. 2. 3. 4. Define ‘Cost Estimating Techniques’. Write a note on ‘Critical Path Analysis’. Differentiate between General Management and Project Management. What is ‘Team Life Cycle’?
END OF SECTION A
IIBM Institute of Business Management
Examination Paper: Project 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...