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DRIVE
SUMMER 2016
PROGRAM
MBA
SEMESTER
IV
SUBJECT CODE & NAME
PM 0015 – QUANTITATIVE METHODS IN PROJECT MANAGEMENT
1 Explain Business Value Models in detail.
- Balanced scorecard model
- The Treacy-Wiersema model
- The Kano model
Answer: Balanced scorecard model
The balanced scorecard model defines four scoring areas for business value and was first published by Robert S. Kaplan and David P. Norton in an article, “The Balanced Scorecard – Measures that Drive Performance.”
2 What is parametric estimating? Explain the steps involved in the development of a parametric model.
Define parametric estimating
Describe the 7 steps involved in the development of a parametric model
Answer: Parametric estimating is an estimating technique that uses a statistical relationship between historical data and other variables, such as square footage in construction and lines of code in software development for calculating an estimate for activity parameters, such as scope, cost, budget, and duration. Parametric estimating can produce higher levels of accuracy depending
3 What is Capital Budgeting? What aspects of capital budgeting must be considered while selecting a project?
- Meaning of Capital Budgeting
- Explain the 4 aspects of capital budgeting that must be considered while selecting a project
Answer: Capital budgeting is a planning process used to determine the worth of long term investments in
4 Explain the various expense items in a project.
List the various expense items in a project
Describe each expense with suitable examples
Answer: Various expense items in a project
Direct and indirect costs
Direct costs are expenses that directly affect the budget of a project. Expenses that are for the express benefit of the project, and would not be incurred if not for the project, are usually called “dire
5 Explain Benefit-Cost Ratio Analysis and Break-Even Analysis.
- Benefit-Cost Ratio Analysis
- Break-Even Analysis
Answer: BCR analysis refers to an approach that compares the cost to be incurred and financial benefits to be received from a project. It is conducted to make project decisions. BCR analysis involves weighing total expected costs and expected benefits to select the most profitable option. An
6 What are the steps that should be followed to construct a “house of quality”?
Explain the 5 steps that should be followed to construct a house of quality
Answer: The house of quality refers to a collection of several quality deployment hierarchies that includes quality hierarchy, quality characteristics hierarchy, relationship matrix, quality planning table and design planning table. It is constructed in the form of a table, connecting the dots between the voice of the customer and the voice of the design and engineering team involved in the production process. The house of quality is used by cross-functional teams for translating
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