(SEM VIII) THEORY EXAMINATION 2022-2023 PROJECT MANAGEMENT & ENTERPRENEURSHIP

SECTION A

(Attempt all questions – 2 marks each)

a. Entrepreneur

An entrepreneur is a person who identifies a business opportunity, takes financial risk, and organizes resources to start and run a business with the aim of earning profit and creating value.

b. Entrepreneur vs Intrapreneur

An entrepreneur starts and owns a new business and bears full risk, whereas an intrapreneur works within an existing organization and uses innovative ideas without bearing financial risk.

c. “Creativity leads to innovation”

Creativity is the ability to generate new ideas, while innovation is the practical implementation of those ideas. Without creativity, innovation cannot occur, hence creativity leads to innovation.

d. Sustainability and growth rate

Sustainability refers to an organization’s ability to grow without exhausting resources. A sustainable growth rate ensures long-term stability by balancing profits, resources, and social responsibility.

e. Appraisal in project management

Project appraisal is the evaluation of a project’s feasibility by analyzing technical, financial, economic, and social aspects before approval.

f. Role of project manager

A project manager plans, executes, monitors, and controls project activities to ensure completion within time, cost, and quality constraints.

g. Sources of finance

Sources of finance include personal savings, banks, financial institutions, venture capital, angel investors, government schemes, and retained earnings.

h. Crashing

Crashing is a project management technique used to reduce project duration by allocating additional resources at extra cost.

i. Does social entrepreneur make money

Yes, social entrepreneurs earn money, but their primary goal is social impact rather than profit maximization.

j. Social venture

A social venture is a business enterprise that aims to solve social problems while operating in a financially sustainable manner.

SECTION B

(Attempt any three – 10 marks each)

2(a) Classification of Entrepreneurs

Entrepreneurs can be classified based on innovation, motivation, ownership, and type of business. Innovative entrepreneurs introduce new products or methods, while imitative entrepreneurs adopt existing ideas. Fabian entrepreneurs are cautious and conservative, whereas drone entrepreneurs resist change. Entrepreneurs can also be classified as individual, partnership, or corporate entrepreneurs depending on ownership structure.

2(b) Elements of Sustainable Enterprise Model

A sustainable enterprise model focuses on long-term value creation. It includes economic viability, social responsibility, environmental protection, innovation, ethical governance, and stakeholder engagement. Sustainability ensures continuous growth without harming future resources.

2(c) Environmental appraisal and EIA steps

Environmental appraisal studies the environmental impact of a project. Environmental Impact Assessment (EIA) involves screening, scoping, impact analysis, mitigation planning, public consultation, and monitoring to reduce environmental damage.

2(d) Project risk management

Project risk management involves identifying, analyzing, and controlling risks that may affect project objectives. Risks include technical risks, financial risks, market risks, operational risks, and environmental risks. Proper risk management ensures project success.

2(e) Sustainability in social innovation

Sustainability in social innovation ensures that social solutions are economically viable, socially acceptable, and environmentally friendly, allowing long-term positive impact.

SECTION C

(Attempt one part from each question)

3(a) Entrepreneurial competency

Entrepreneurial competency refers to skills, knowledge, and abilities required to run a successful enterprise. It includes opportunity recognition, decision-making, leadership, risk-taking, communication, and problem-solving skills. These competencies help entrepreneurs manage challenges effectively.

4(b) Generation of business idea

Business ideas originate from market needs, technological changes, customer problems, and innovation. Key aspects include market research, feasibility analysis, resource availability, risk assessment, and profitability evaluation before starting a business.

5(a) Significance of project life cycle

The project life cycle consists of initiation, planning, execution, monitoring, and closure. Each stage ensures proper control, efficient resource utilization, and successful completion of the project with defined outcomes.

6(a) Demand forecasting

Demand forecasting predicts future demand for products or services. Techniques include qualitative methods like market surveys and quantitative methods like trend analysis and regression. Accurate forecasting helps in planning and decision-making.

7(a) Impact of social entrepreneurship

Social entrepreneurship creates employment, improves living standards, and solves social problems. Examples in India include Muhammad Yunus (Grameen model), Verghese Kurien (Amul), and Bunker Roy (Barefoot College), who contributed significantly to social development.