NPTEL Project Management Week 8 Assignment Answers 2024

NPTEL Project Management Week 8 Assignment Answers 2024

1. Which of the following is a primary benefit of using simulation in decision-making?

  • Elimination of uncertainties
  • Provides exact outcomes
  • Allows experimentation without real-world consequences
  • Reduces the need for data analysis
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2. What is the purpose of using simulation models?

  • To replace real-world systems
  • To replicate real-world processes and behaviours
  • To simplify complex systems
  • To predict outcomes with 100% accuracy
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3. Monte Carlo simulation is used for:

  • Modeling continuous systems
  • Predicting deterministic outcomes
  • Handling uncertainty by running multiple trials
  • Simulating discrete events only
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4. Which statistical technique is commonly employed in simulation to model uncertainty?

  • Regression analysis
  • Hypothesis testing
  • Random number generation
  • Correlation analysis
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5. Which factor is crucial for validating a simulation model?

  • Ensuring the model’s complexity matches the real system
  • Achieving identical results for all simulations
  • Utilizing the same data for all model iterations
  • Ignoring the model’s limitations
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6. Which statement about sensitivity analysis in simulation is true?

  • It identifies variables that don’t impact the simulation outcomes.
  • It measures the impact of changing one variable while keeping others constant.
  • It’s only applicable to deterministic simulations
  • It doesn’t consider uncertainties.
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7. In which field is Crystal Ball commonly used?

  • Video Game Development
  • Weather Forecasting
  • Project Management and Decision Analysis
  • Social Media Marketing
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8. Which aspect is a common challenge in simulation modelling?

  • Overly simplified representations of real systems
  • Inability to handle deterministic data
  • Dependence on small-scale simulations
  • Lack of need for validation and verification
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9. Which feature of project management software allows users to visualize task dependencies and relationships?

  • Gantt charts
  • Resource allocation
  • Risk analysis
  • Agile boards
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10. What functionality in project management software assists in tracking team workload and availability?

  • Kanban boards
  • Resource levelling
  • Burn-up charts
  • Critical path analysis
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