Answer:Earned value management (EVM), or Earned value project/performance management (EVPM) is a project management technique for measuring project performance and progress in an objective manner.
Earned value management is a project management technique for measuring project performance and progress. It has the ability to combine measurements of the project management triangle: Continue reading
Question.5 Write short notes on
Role of risk management in overall project management
Answer:Effective risk management strategies allow you to identify your project’s strengths, weaknesses, opportunities and threats. By planning for unexpected events, you can be ready to respond if they arise. To ensure your project’s success, define how you will handle potential risks so you can identify, mitigate or avoid problems when you need to do. Successful project managers recognize that risk management is important, because achieving a project’s goals depends on planning, preparation, results and evaluation that
Answer: Quality assurance (QA) is a way of preventing mistakes or defects in manufactured products and avoiding problems when delivering solutions or services to customers; which ISO 9000 defines as “part of quality management focused on providing confidence that quality requirements will be fulfilled”. This defect prevention in quality assurance differs subtly from defect detection and rejection in quality control, and has been referred to as a shift left as it focuses on quality earlier in the process. Continue reading
Question.3 Answer the following questions:
Mention the steps involved in a competitive bid.
Answer:If you run a small business, you might engage in the bidding process regularly. Whether you are the one accepting the bids or you have to bid on jobs, the basic steps are typically the same. Completing the bidding process in the proper manner could be the difference between getting a bid or looking for work.
Specifications: The first step in the bidding process deals with coming up with the specifications for the job. The company or
Mention the elements/points that must be kept in view when designing , developing and operating a PMIS (Project Management Information System)
Answer:His theory, called “Tuckman’s Stages” was based on research he conducted on team dynamics. He believed (as is a common belief today) that these stages are inevitable in order for a team to grow to the point where they are functioning effectively together and delivering high quality results.
In 1977, Tuckman, jointly with Mary Ann Jensen, added a fifth stage to the 4 stages: “Adjourning.” The adjourning stage is when the team is completing the current project. They will be joining other teams and moving on to other work in the near future. For a high performing team, the end of a project brings on feelings of sadness as the team
Question.1 Write Short notes on:
Answer:The program (or project) evaluation and review technique, commonly abbreviated PERT, is a statistical tool, used in project management, which was designed to analyze and represent the tasks involved in completing a given project. First developed by the United States Navy in the 1950s, it is commonly used in conjunction with the critical path method (CPM).
The PERT chart may have multiple pages
Answer:Cost per impression (CPI), or “Cost per thousand impressions” (CPM), is a term used in traditional advertising media selection, as well as online advertising and marketing related to web traffic. It refers to the cost of traditional advertising or internet marketing or email advertising campaigns, where advertisers pay each time an
Question.4. Briefly explain the Customer Relationship Management (CRM) system. What are the various facilities created by CRM?
Answer:When company communicates its customers the process can involve many different people within both organizations using a variety of different methods. CRM is the acronym for the term “Customer Relationship Management”. The main tool that is used is an order that is communicated by company’s customer to its sales department. However this is only one of many communications that should be managed. To ensure that company can provide the best customer service experience possible the use of customer relationship management (
Question.2. Explain the Strategic Decision making with MIS. Elaborate on the types of communication that can be effected with digital networks in organisations
Answer:Increasing availability of low-cost computers and associated equipment of varying capabilities promoted the trends towards distributed data processing. Developments in communication techno-logy has made it possible to interconnect such geographically dispersed computing resources of different kinds and makes. A computer communication network is an interconnection of a collection of several
Question.1. Distinguish between information technology (IT) and information systems (IS) and explain the Advent of Artificial Intelligence and Free Software Movement
Answer:Information technology (IT) is the application of computers and internet to store, retrieve, transmit, and manipulate data, or an information often in the context of a business or other enterprise. IT is considered a subset of information and communications technology (ICT). In 2012, Zuppo proposed an ICT hierarchy where each hierarchy level “contain some degree of commonality in that they are related to technologies that facilitate the transfer of information and various types of electronically mediated communications.” Business/IT was one level of the ICT hierarchy. Continue reading
Question.6. Write short notes on:
- a) Break –even pricing
Answer:Break even pricing is the practice of setting a price point at which a business will earn zero profits on a sale. The intention is to use low prices as a tool to gain market share and drive competitors from the marketplace. By doing so, a company may be able to increase its production volumes to such an extent that it can reduce costs
- b) Mark-up pricing
Answer:Several varieties of markup pricing – also known as cost-plus pricing – exist, but the common thread is that one first calculates the cost of the product, then adds a proportion of it as markup. The amount to be marked up is decided at the discretion of the company. Basically, this approach sets prices that cover the cost of production and provide enough profit margin to the firm to earn its target rate of return.
Cost-plus pricing is used primarily
Question.3. Explain the factors that affect the consumer buying behavior.
Answer:The central focus of marketing is the consumer. To devise good marketing plans, it is necessary to examine consumer behavioral Continue reading
Question.2. Briefly discuss importance of environmental scanning with the help of example.
Answer:Environmental scanning is one of the essential components of the global environmental analysis. Environmental monitoring, environmental forecasting and environmental assessment complete the global environmental analysis. The global environment refers to the macro environment which comprises industries, markets, companies, clients and competitors. Consequently, there exist corresponding analyses on