(SEM VIII) THEORY EXAMINATION 2021-22 PROJECT MANAGEMENT & ENTREPRENEURSHIP

SECTION A

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

(a) Innovation

Innovation is the process of introducing new ideas, methods, products, or services that create value and improve existing systems.

(b) Entrepreneurship

Entrepreneurship is the ability to identify opportunities, take risks, organize resources, and create a business venture to earn profit and generate value.

(c) Value Creation

Value creation refers to the process of increasing the worth of a product, service, or organization by meeting customer needs effectively.

(d) Sustainability of a Model

Sustainability of a model means its ability to operate continuously over the long term without exhausting financial, social, or environmental resources.

(e) Project Management

Project management is the planning, organizing, directing, and controlling of resources to achieve specific goals within defined time, cost, and quality constraints.

(f) Roles of Project Manager

A project manager plans the project, allocates resources, monitors progress, manages risks, coordinates teams, and ensures timely completion.

(g) Project Financing

Project financing refers to arranging funds required for a project through equity, loans, grants, or other financial sources.

(h) Working Capital Requirements

Working capital requirement is the amount of funds needed for day-to-day business operations, such as purchasing raw materials and paying wages.

(i) Effectiveness and Efficiency

Effectiveness means achieving desired goals, while efficiency means achieving goals with minimum use of time and resources.

(j) Social Ventures

Social ventures are enterprises that aim to solve social problems while maintaining financial sustainability.

SECTION B

(Attempt any THREE – 3 × 10 = 30 marks)

2(a) Marketing Management for Social Ventures

Marketing management for social ventures focuses on promoting social value rather than only profit. It involves identifying social needs, designing affordable solutions, creating awareness, and building trust among stakeholders.
 

For example, a social enterprise providing low-cost sanitary products uses awareness campaigns, community engagement, and affordable pricing to reach rural women while ensuring sustainability.

2(b) Identifying Business Opportunities

Identifying business opportunities involves recognizing unmet needs, market gaps, and emerging trends. Entrepreneurs analyze customer problems, technological changes, competition, and economic conditions. Proper opportunity identification reduces risk and increases chances of business success.

2(c) Preparation of a Real-Time Project Feasibility Report

A feasibility report evaluates whether a project is viable. It includes market analysis, technical feasibility, financial feasibility, managerial capability, and risk assessment. A real-time feasibility report uses current market data and realistic assumptions to support decision-making.

2(d) Sources of Funds and Capital Budgeting

Sources of funds include equity, bank loans, venture capital, government schemes, and internal accruals.
Capital budgeting involves evaluating long-term investments using techniques like payback period, NPV, and IRR to select profitable projects.

2(e) Entrepreneurial Competencies and Traits

Entrepreneurial competencies include leadership, risk-taking, creativity, decision-making, communication skills, and adaptability.
Traits like confidence, perseverance, vision, and innovation help entrepreneurs face challenges and grow their ventures successfully.

SECTION C

3(a) Social Innovations and Sustainability

Social innovation refers to new ideas or solutions that address social challenges effectively. Sustainability ensures these innovations continue long-term.
For example, solar-powered rural lighting systems improve living standards while being environmentally and economically sustainable.

3(b) Management Skills for Entrepreneurs and Value Creation

Entrepreneurs need planning, organizing, leadership, financial management, and communication skills. These skills help in efficient resource use, customer satisfaction, and long-term value creation for stakeholders.

4(a) Factors Affecting Entrepreneurial Development

Factors include economic conditions, government policies, education, access to finance, technology, social environment, and cultural support. Favorable conditions encourage entrepreneurship growth.

4(b) Technical Appraisal and Environmental Appraisal

Technical appraisal evaluates technology, machinery, and production processes.
Environmental appraisal examines the project’s impact on the environment and ensures compliance with environmental laws and sustainability norms.

5(a) Risk and Uncertainty in Project Evaluation

Risk refers to measurable uncertainty, while uncertainty refers to unpredictable outcomes. Project evaluation considers market risk, financial risk, technical risk, and operational risk to minimize losses.

5(b) Risk Management in Social Enterprises

Risk management involves identifying, analyzing, and mitigating risks in social enterprises. It ensures mission continuity, financial stability, and stakeholder trust through planning and monitoring.

6(a) Creating and Sustaining an EnterI in Enterprise Model

Creating an enterprise model involves identifying value proposition, customer segments, revenue streams, and cost structure. Sustaining it requires innovation, adaptability, and continuous value delivery.

6(b) Conceptual Model of Entrepreneurship

The conceptual model includes opportunity identification, resource mobilization, innovation, risk-taking, and value creation, supported by environment and policies.

7(a) Market Appraisal and Managerial Appraisal

Market appraisal evaluates demand, competition, pricing, and customer behavior.
Managerial appraisal assesses the capability, experience, and competence of the management team.

7(b) Projected Balance Sheet and Projected Income Statement

A projected balance sheet shows expected assets and liabilities.
A projected income statement estimates future revenue, expenses, and profit, helping assess financial viability.