12- Project planning

Question 1

Project Plans - will include (15)

Answer 1

Executive summary - (Purpose, goal and milestone)
Key assumptions
Methodology that will be used
Budget
Clearly defined scope
Technical details
Project quality plan
Communication plan
Time plan
People
Other resourcing issues
Monitoring process- stay on track
Project constraints- limitations
Risk Mng
Project objectives, milestones and gates

Question 2

Key assumptions

Answer 2

What the project is based upon that are not certain when the plan is made ;exchange rate, good weather

Question 3

Time plan

Answer 3

Sets all the activities if the project and when they will happen. Diagrams, network diagram or Gantt chart

Question 4

Project constrains

Answer 4

Any factors that limit or regulate the project’s activities

Quality, time, scope, cost

Question 5

Role of PM

Answer 5

1. Create and undertake the plan
2. Ensure goals meet customer needs
3. Ensure team understands objectives
4. Communicate project requirements to team members ( use input from team members on how to best achieve project objectives)
5. Boost the project team’s commitment to the project
6. Use the project plan to track and communicate progress

Question 6

Risk management

Answer 6

Risk is the potential that a chosen action will lead ti an undesirable outcome

Risks to be carried out at the start of the project and risk mng considered

Question 7

Stages of risk mng

Answer 7

Identify threats (quantitative/ qualitative (restaurant fails to attract enough custom to be profitable) / socially- clients)
Assess the risk ( severity of impact/ probability)
Risk mng (TARA)
Implement risk mng measures
Review and control

Question 8

TARA

Answer 8

Transfer: sharing with another party the burden of loss or the benefits of gain for a risk and the measures to reduce a risk (Insuring the risk, Outsourcing

Avoid- not performing an activity that could carry risk (not buying a propriety to not take on the legal liability that comes with it
- not performing an activity that could carry risk

Reduce- reducing the severity if the loss or the likelihood of the loss occurring ( sample of cakes)

Acceptance- accept the loss or benefit of gain from a risk when it occurs (risks are low)

Question 9

WBS- work breakdown structure can be used to:

Answer 9

• show the people involved who is responsible for what
• assess the risks
  PBS( product breakdown structure) - estimate and compare potential suppliers
• estimate timings
• create schedule for the project
  Estimate the costs using a cost breakdown structure (lowest to highest)

Question 10

Advantages and disadvantages of Gantt charts

Answer 10

For tasks and time- not for resources
Easy to create and understand

Good communication tool
Easy to create
Can be adapted to show the critical path (which activities must be completed before other activities begin).

Disadvantages
- critical activities not identified
- not for complex projects with many activities - chart becomes large and loses its benefit as communication tool

Question 11

Resource histograms

Answer 11

Setting time against resources

Where there are limited resources to manage

Question 12

Project quality plan

Answer 12

Project overview
Project requirements - Quality
Project responsibilities- Authority
Resource procurement policy
Risk assessment
Quality standards
Quality evaluation and assurance strategy
Monitoring procedures
Configuration mng
Reporting and control processes

Question 13

PCM- project configuration management

Answer 13

Ex. Version control

Controlling a project’s documentation and outputs
Important in project mng to minimise project mistakes
Useful when key team members are absent
Devision from PCM should be reported and fixed

Question 14

Project scope

Answer 14

What is in and not in the project. It’s about the project boundaries.

( budget, timing, project team- not in the project scope)