1. What is meant by Project Life Cycle?

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The project life cycle refers to the series of phases that a project goes through from its initiation
to its closure. It provides a structured approach to managing a project and typically includes four
major phases: Initiation, Planning, Execution, and Closure. Each phase has specific
deliverables and tasks. For example, in an IT project to develop a mobile app, the life cycle
starts with identifying user needs (Initiation), followed by creating design documents (Planning),
then coding and testing (Execution), and finally delivering the app and closing documentation
(Closure). Understanding the project life cycle helps ensure effective project management and
successful outcomes.

2. Who is a project manager?​

A project manager is a professional responsible for planning, executing, and closing projects
successfully. They manage project resources, timelines, costs, and communication among
stakeholders. The project manager ensures that the project meets its objectives within scope,
time, and budget. For example, in a software development project, the project manager
oversees requirement gathering, coordinates between developers and testers, monitors
progress, and updates clients on the status. They are key decision-makers and problem-solvers
in any project environment.

3. Challenges faced by project manager.​

Project managers often face several challenges such as scope creep (uncontrolled changes in
project scope), resource limitations, time constraints, and communication issues. Managing a
team with different skill sets and personalities can also be difficult. For instance, in an IT project,
sudden changes in client requirements or delays in resource availability can cause stress and
project delay. They also have to manage risks, maintain quality, and satisfy stakeholders.
Balancing all these elements simultaneously is a major challenge.

4. What does cost estimation mean?​

Cost estimation is the process of predicting the financial resources required for a project. It
includes estimating costs for materials, labor, equipment, and other resources. Accurate cost
estimation helps in budget preparation and funding approval. For example, when planning a
website development project, cost estimation would involve calculating costs for hiring
developers, purchasing hosting services, and testing tools. Poor estimation can lead to budget
overruns and project delays.

5. Explain Budget uncertainty.​

Budget uncertainty refers to the unpredictability or inaccuracy in estimating the financial
resources needed for a project. It can occur due to unforeseen events, incorrect assumptions,
or incomplete requirements. For example, during a cloud migration project, unexpected
licensing fees or data transfer charges can cause budget overruns. Budget uncertainty can
impact project success, so it is important to include contingency funds and perform risk analysis
during budget planning.

6. What is crashing?​
Crashing is a schedule compression technique used to reduce project duration without
changing the scope. It involves adding more resources or working overtime on critical path
activities to finish the project earlier. For example, if a software project deadline is moved
forward, a manager may hire more developers to complete tasks faster. However, crashing
increases cost, so it should be used only when time savings outweigh the additional expenses.

7. Explain resource loading.​

Resource loading refers to the allocation of resources (like people, equipment, and materials)
to project activities over a period of time. It shows how much work is assigned to each resource
and helps identify over- or under-utilization. For example, in a system upgrade project, if a
developer is assigned to multiple tasks simultaneously, resource loading helps balance the
workload to avoid burnout and delays. Proper resource loading ensures project efficiency and
timely delivery.

8. Explain conflict.​
Conflict in project management refers to disagreements or misunderstandings between team
members or stakeholders due to differences in opinions, goals, or work styles. Conflicts may
arise from poor communication, overlapping responsibilities, or unclear roles. For instance, if a
designer and a developer disagree on user interface design, it can delay progress. Managing
conflict through negotiation, clear communication, and team-building helps maintain a
productive work environment.

9. What is data collection?​

Data collection is the process of gathering information required for analysis, decision-making,
or project documentation. In project management, it can involve collecting data on performance,
costs, schedules, and risks. For example, collecting time logs from team members helps assess
project progress. Accurate data collection enables informed decisions, better planning, and
performance evaluation throughout the project lifecycle.
10. Explain quality system specification.​
Quality system specification defines the standards, processes, and criteria a project must follow
to ensure quality deliverables. It includes quality assurance practices, testing methods, and
compliance requirements. For example, a software project may follow ISO 9001 standards and
include unit testing, peer reviews, and audits as part of the quality system. Clear quality
specifications help deliver reliable and user-satisfying products.

11. What is a project audit?​

A project audit is an independent review of a project to assess its compliance with planned
objectives, budget, timeline, and quality standards. It evaluates project performance and
identifies areas for improvement. For example, an audit may check whether a mobile app
development project followed the approved design and stayed within budget. Project audits
enhance accountability and ensure the project aligns with organizational goals.

12. What is Project Management?​

Project management is the application of knowledge, tools, and techniques to plan, execute,
and complete projects efficiently. It involves managing scope, time, cost, quality, resources, and
risks to meet project objectives. For example, building a web application involves planning
features, assigning tasks, tracking progress, and managing client expectations. Project
management ensures successful project delivery and resource optimization.

13. What is project formulation?​

Project formulation is the process of defining a project’s objectives, scope, feasibility, and
approach before it officially begins. It includes identifying needs, setting goals, conducting
feasibility studies, and preparing a project proposal. For instance, before developing an ERP
system, a company must study user needs, technology options, costs, and benefits. Proper
formulation ensures a strong foundation for successful project execution.

14. What are the steps involved in Project Planning?​

Project planning includes several key steps:

1.​ Defining objectives and scope​

2.​ Identifying tasks and activities​

3.​ Estimating resources and time​

 4.​ Creating schedules​

5.​ Identifying risks and mitigation plans​

6.​ Budgeting​

7.​ Assigning responsibilities​

For example, in a network setup project, planning involves selecting equipment,
assigning technicians, estimating costs, and setting timelines. Effective planning ensures
smooth execution and goal achievement.​

15. What is a multidisciplinary team?​

A multidisciplinary team consists of members from different fields or departments who work
together on a common project. It brings diverse knowledge, perspectives, and skills. For
example, in an IT project, the team may include software engineers, UI designers, database
administrators, and business analysts. Collaboration among experts from various domains
enhances problem-solving and innovation.

16. Differentiate PERT and CPM.​

PERT (Program Evaluation and Review Technique) and CPM (Critical Path Method) are project
scheduling tools.

●​ PERT is used for uncertain project durations; it focuses on time estimation using
optimistic, pessimistic, and most likely time.​

●​ CPM is used for projects with known activity durations; it helps identify the critical path
(longest duration path).​
Example: PERT is useful in R&D projects where time estimates vary. CPM is suitable
for construction projects where task durations are known.​

17. How would you allocate scarce resources?​

When resources are limited, allocation is based on project priorities, critical tasks, and
deadlines. Techniques like resource leveling and critical path analysis are used. For example, if
only one senior developer is available, they may be assigned to tasks on the critical path to
avoid project delays. Resource allocation must ensure maximum value and minimal project
disruption.
18. What is project termination?​
Project termination is the formal conclusion of a project. It occurs when project objectives are
achieved, the project is cancelled, or it becomes unfeasible. Termination involves final
deliverables, documentation, resource release, and performance evaluation. For example, after
launching a software product, the project is closed with a final report and client handover.
Proper termination ensures organizational learning and closure.

19. Explain P-M-C cycle.​

The P-M-C cycle stands for Planning-Monitoring-Controlling.

●​ Planning defines what needs to be done, by whom, and when.​

●​ Monitoring tracks actual progress against the plan.​

●​ Controlling involves taking corrective actions if deviations occur.​

For example, in a cloud migration project, tasks are planned, progress is monitored
daily, and adjustments are made if timelines slip. This cycle ensures that the project
stays on track.​

20. What is product quality?​

Product quality refers to the extent to which a product meets user requirements and
expectations. In IT projects, quality includes functionality, usability, reliability, and performance.
For example, a mobile app with a user-friendly interface, fast performance, and no bugs reflects
high quality. High product quality increases customer satisfaction and reduces maintenance
costs.

21. Explain quality control.​

Quality control is the process of checking whether the project's outputs meet specified
standards. It includes inspections, testing, and reviews. For example, in a web development
project, quality control may involve testing the site for bugs, verifying responsiveness, and
ensuring secure login. Quality control ensures that defects are detected early and the final
product is reliable.