(SEM VII) THEORY EXAMINATION 2023-24 PROJECT MANAGEMENT & ENTREPRENEURSHIP

KHU702 – PROJECT MANAGEMENT & ENTREPRENEURSHIP

B.Tech (SEM VII) – Theory Examination
Complete Solved Answers

SECTION A

(Attempt all questions in brief – 2 × 10 = 20 marks)

a. Define the term ‘Intrapreneur’.

An intrapreneur is an employee within an organization who behaves like an entrepreneur by developing innovative ideas, products, or processes while working inside the organization.

b. State entrepreneurial traits.

Entrepreneurial traits include:                                              Risk-taking ability

Creativity and innovation                                                     Leadership

Self-confidence

c. Write any two roles of innovation in developing entrepreneurship.

Innovation helps entrepreneurs:

Develop new products and services

Gain competitive advantage in the market

d. What do you understand by product innovation?

Product innovation refers to the introduction of new or improved products to meet customer needs, enhance quality, and increase market competitiveness.

e. Define environmental appraisal.

Environmental appraisal is the systematic analysis of external factors such as economic, social, political, and technological conditions that affect a project or business.

f. What is forecasting?

Forecasting is the process of predicting future events or trends based on past and present data to support planning and decision-making.

g. What is risk and uncertainty in project evaluation?

Risk refers to measurable uncertainty with known probabilities, while uncertainty involves unpredictable situations with unknown outcomes affecting project performance.

h. Write about cash flow statements.

A cash flow statement shows inflow and outflow of cash from operating, investing, and financing activities, helping assess liquidity and financial health.

i. Define social ventures.

Social ventures are organizations or businesses that aim to solve social problems while maintaining financial sustainability.

j. What do you mean by social innovations?

Social innovations are new ideas, services, or models designed to address social needs effectively and create social value.

SECTION B

(Attempt any three – answers provided for ALL)

2(a). Entrepreneurial competencies and traits

Entrepreneurial competencies include opportunity recognition, decision-making, leadership, communication, and risk management. Traits such as creativity, perseverance, confidence, and adaptability are commonly seen in successful entrepreneurs like Ratan Tata and Dhirubhai Ambani.

2(b). Finding business opportunities and characteristics of good opportunity

Business opportunities can be identified through market research, customer feedback, technological trends, and problem analysis. A good business opportunity has market demand, profitability, scalability, feasibility, and competitive advantage.

2(c). Project management as a conversion process

Project management converts inputs like resources, capital, and manpower into desired outputs such as products or services. Constraints include time, cost, scope, and quality, managed through planning, monitoring, and control mechanisms.

2(d). Elements of cost estimation and its importance

Cost estimation includes material cost, labor cost, overheads, contingency, and administrative expenses. It is important for budgeting, feasibility analysis, and financial planning of projects.

2(e). Need for legal framework for social entrepreneurship

A legal framework ensures transparency, accountability, funding access, and protection of stakeholders in social enterprises. It supports sustainability and ethical operations.

SECTION C

3(a). Motivation and motivating factors for entrepreneurs

Motivation is the internal force that drives individuals to achieve goals. Entrepreneurs are motivated by achievement, independence, profit, innovation, social recognition, and personal satisfaction.

3(b). Classification of entrepreneurs and EDPs

Entrepreneurs can be classified as innovative, imitative, social, and technical entrepreneurs. Entrepreneurial Development Programmes (EDPs) provide training, skill development, financial literacy, and mentoring to promote entrepreneurship.

4(a). Types of innovation

Types of innovation include:                                            Product innovation

Process innovation                                                           Marketing innovation

Organizational innovation
Examples include electric vehicles, digital payments, and automation.

4(b). Organizational effectiveness and its measurement

Organizational effectiveness refers to the extent to which an organization achieves its objectives. It is measured through productivity, employee satisfaction, profitability, and customer satisfaction.

5(a). Project appraisal and its importance

Project appraisal evaluates technical, financial, economic, and social feasibility of a project. It helps determine viability, minimize risk, and ensure optimal use of resources.

5(b). Project life cycle and its importance

The project life cycle includes:                                           Initiation

Planning                                                                             Execution

Monitoring & Control                                                        Closure

It provides structured management and improves project success.

6(a). Types of project cost estimation techniques

Techniques include:                                                           Analogous estimation

Parametric estimation                                                       Bottom-up estimation

Expert judgment                                                               These help in accurate budgeting.

6(b). Fund and detailed project report (DPR)

Funds are financial resources required for projects. A DPR includes project objectives, cost details, technical design, financial analysis, and implementation schedule.

7(a). Marketing for social entrepreneurship and risks

Marketing involves awareness campaigns, digital media, and community engagement. Risks include funding shortage, market acceptance, and operational challenges.

7(b). Types and opportunities of social entrepreneurship

Types include nonprofit, for-profit social enterprises, and hybrid models. Opportunities exist in education, healthcare, rural development, and environmental sustainability.