UNIVERSITY COLLEGE LONDON
EXAMINATIO~”FORINTERNAL STUDENTS
MODULE CODE
ASSESSMENT P A TIERN
MODULE NAME
TIME ALLOWED
MSING001 MSING001C
Project Management
Thursday 3 May 2018 10:00
This paper is suitable for candidates who attended classes for this module in the following academic year(s):
Suitable for all candidates
EXAMINATION PAPER CANNOT BE REMOVED FROM THE EXAM HALL. PLACE EXAM PAPER AND ALL COMPLETED SCRIPTS INSIDE THE EXAMINATION ENVELOPE
2016/17-MSING001C-001-EXAM-UCL School of Management 263 © 2016 University College London
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MSING001: PROJECT MANAGEMENT EXAMINATION PAPER
APRIUMAY 2018
The examination will last TWO (2) hours.
There are THREE (3) sections: you are required to answer ALL THREE (3) sections.
Section A:
Section B:
Section C:
Consists of FIVE (5) questions from which you much answer THREE (3).
If you answer more than THREE (3) questions, only the first THREE (3) answers will be marked.
Total value of Section A: THIRTY (30) Marks
Consists of ONE (1) compulsory question. Candidates should attempt ALL parts of this question.
Total value of Section B: TWENTY (20) Marks
Is based on the Novo Nordisk Engineering: Running for Fast- Track Project Execution Study which was issued to you prior to the examination. If you have not been issued with a fresh copy of the Case Study at the start of the examination,
please request a copy from the invigilators.
The section consists of FOUR (4) questions C1, C2, C3 and C4. Answer ALL FOUR (4) questions.
Section A Section B Section C
– answer THREE (3) out of FIVE (5) questions – answer ONE (1) compulsory question
– case study: answer ALL FOUR (4) questions
40 minutes 20 minutes 60 minutes
Total value of Section C: FIFTY (50) marks
You are advised to allocate your time as follows:
Answer any THREE (3) out of FIVE (5) questions. Each question is worth TEN (10) marks. If you answer more than THREE (3) questions, only the first THREE (3) answers will be marked.
Briefly describe the following components of a project which would be included in a project plan. Give examples to illustrate your points.
a) Project objectives b) Deliverables
d) Success criteria
(2 marks) (3 marks) (3 marks) (2 marks)
MSING001: 2017/18
MSING001: Project Management
A project has a total budget of £1000k and is planned to be completed in 12 weeks. The earned value analysis at the end of week 6 shows the following:
1200 1100 1000
900 800 700
.: 600 500 400 300 200
1 0 0o ~ o
Earned Value Data
~ . / ~’ ………..: -“”~
~ m e d V a l u e 1 Week 6
./’~ ./’./’~
a) Calculate the cost performance index (CPI) and schedule performance index (SPI) for the project.
b) What do these indices tell you about the project’s progress to date?
c) What percentage of the project has been completed so far? How does this compare to what was planned?
d) If the current cost trend continues, what is the estimated cost at completion? (2 marks)
Briefly describe FOUR (~ stages in the negotiation process. Your stages should be presented in sequence.
(10 marks)
MSING001: 2017/18
MSING001: Project Management
a) Brieflyexplainwhyitisimportanttomanagethestakeholdersonaproject.
b) Explain the role of the Power I Interest matrix in the stakeholder management process. Include a labelled diagram to illustrate your answer.
The following is the network for a small project (in days). You have just been advised that you have to include a waiting period of 3 days between tasks Band C.
.- B t– c l-
I3I I4I A I- ..F
II II I6 I I10I
.- 0 f-+ E l-
Using the graph paper provided:
a) What, if any, is the impact on the critical path and the duration of the project?
b) Redraw the network to include the waiting time.
c) Perform the forward and backward pass.
d) Highlight the critical path.
MSING001: 2017/18
MSING001: Project Management
This section is worth TWENTY (20) marks. This section consists of ONE (1) question. Candidates should attempt all parts of the question. Answer question B.1 below.
An organisation is evaluating two projects (A and B below) to decide which one to fund. Financial appraisal data is given:
Project A Netcash£k
ProjectS Netcash£k
(400) (280) 150 130 250 110 180 120 140 100
173.83 180 29% 24%
Note: The company’s cost of capital (interest rate) is 10%
Calculate the payback period for each project based on the simple (non- discounted) cash flows above. Which project is better on this basis?
State ONE (1) principal benefit and ONE (1) principal disadvantage of evaluating the viability of potential project(s) on the basis of payback.
Briefly explain why the time value of money concept is an important factor in the financial appraisal of projects.
Which of the above projects is the most viable on the basis of:
I. Net Present Value
II. Internal Rate of Return
In each case, briefly explain the reasoning for your answer.
(1 mark) (1 mark)
Overall, what would you advise the organisation regarding which project to fund? Briefly explain the reason(s) for your suggestions.
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MSING001: Project Management
This section is worth FIFTY (50) marks.
All the questions are based on Novo Nordisk Engineering: Running for Fast-Track Project Execution case study which was issued to you prior to the examination. If you have not been issued with a fresh copy of the Case Study at the start of the examination, please request a copy from the invigilators.
Answer all parts of all questions.
a) Briefly state what is meant by configuration management.
b) Page3notestheplantconstructionapproachforthefirstNNEproject:
I t • • • breaking a plant down into modules constructed in parallel and tested at the suppliers premises…”
Explain THREE ‘~reasons why strong configuration management would be critical to success with this construction approach.
Expanding the number of fast track projects led to resource conflicts, as noted by Voigt [page4]: “Managing resource conflicts is the most difficult pari of running an engineering company. ”
a) BrieflyexplainFOUR’4}distinctwaysinwhichaprojectmanagermight overcome resource constraints on a project.
b) ForeachidentifyONE’11benefitandONE’1}disadvantagetoafast-track project such as those being undertaken by Novo Nordisk.
You should provide different arguments for I against each option you suggest. (8 marks)
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MSING001: Project Management
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a) What type of project team structure was employed by NNE on its fast-track projects? Briefly state the reason for your choice.
b) Explain how the team structure and the ways in which the team worked contributed to the success of the projects. You should identify and briefly explain SIX (6) attributes.
(12 marks)
c) When NNE won the Bavarian Nordic contract it organized a one-week team- building exercise for the project management team, in the north of Sweden in winter [page 7]. Do you think this was a good exercise to undertake? State the reasons for your views.
Figure 2 [Page 6] illustrates the difference between a specification-driven and a time- driven project.
a) What each diagram is showing.
b) How they relate to the project management ‘iron triangle’.
END OF PAPER
MSING001: 2017/18
MSING001: Project Management
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