Note: Attempt all the questions

Q. 1 A. How Project Management is different from Operations Management? Explain with suitable example.
B. Explain ‘Project Life Cycle’ with an appropriate example.
Q. 2 Describe the care the planners must take in using SWOT analysis for making strategic decisions.
Q. 3 Why is a project feasibility study undertaken? Discuss any approach used in conducting a project feasibility study with suitable example. What is the purpose behind studying ‘critical success factors’ in a project feasibility report?
Q. 4 Define ‘Opportunity’. What is the ‘economic dependence’ of opportunities? Describe various forms of economic dependence and their relevance to efficient investment analysis?
Q. 5 A. What is ‘risk’? Explain the association between the chances of risk and the cost of managing risk over the stages of project life cycle.
B. Explain the framework of project risk management at the execution stage in detail.
Q. 6 What is ‘sensitivity analysis? What are the ways in which the sensitivity analysis for project can be carried out? What purpose does it serve on corporate investment decisions, and how?
Q. 7 The utility data for a network are given below –

a. Draw the Network.
b. Find the various critical path and project completion time.
Q. 8 The economic life model, particularly one which addresses the issue of willingness to buy old asset, has
its own set of assumptions. What are these assumptions? Are they practically relevant? How can these
assumptions be relaxed for making the model more realistic?