3 Project Management & Scheduling

Question 1

What are the ways that AI will transform project management? (6)

Answer 1

1. Better selection and prioritization
2. PMO analytics & monitoring automation
3. Faster project definition, planning, real-time reports
4. Virtual Project assistant
5. Advanced testing of systems & software integration
6. Project manager role shit: away from administrative work, focus on delivery of benefits and their alignment with strategic goals

Question 2

What is the hierarchy of projects?

Answer 2

Project at the bottom
Program: Group of related projects
Portfolio at the top
Slide 6

Question 3

What are the four types of project managers?

Answer 3

1. Executor
   (reliable business case & in line w/ company)
2. Gambler
   (no reliable business case & in line w/ company)
3. Expert
   (reliable business case & not in line w/ company)
4. Prophet
   (no reliable business case & not in line w/ company)

Question 4

What are the types of project management?

Answer 4

Waterfall (Traditional): Implemented when fully finished
Agile (scrum): Iterative progress w/ feedback

Question 5

Define a project

Answer 5

A series of related jobs (activities) usually directed toward some major output and requiring a significant time to perform

Question 6

What are the two broad categories of projects?

Answer 6

Conventional (low-tech): A repetitive project where tasks are known and defined
Innovative (high-tech): A unique project where there are iterations and a flexible plan

Question 7

What are the three main criteria to evaluate the “success” of a project? And what are the three more for a business that emphasizes the triple bottom line?

Answer 7

Cost
Quality
Time

Environmentalism
Social
Safety

Question 8

What are the different parts of the project management triangle and what does it help determine?

Answer 8

Schedule
Cost
Scope
And a change in one area will impact the others

Question 9

Example of project management triangle Slide 17

Question 10

What is the work breakdown structure (WBS)

Answer 10

A hierarchical breakdown of the tasks required to complete a project

Question 11

What three key aspects of the project schedule does the Gantt Chart show?

Answer 11

Task duration
Task precedence
Task start/end date

Question 12

What type of projects do you use the critical path method and what are the assumptions?

Answer 12

For repetitive type projects
Assumptions: No uncertainty in duration and no concern about task competing for limited resources

Question 13

Define critical path (CP) and critical activities

Answer 13

critical path: sequence of activities that require the longest total time from start to finish
critical activities: Activities along the critical path

Question 14

When would use the program evaluation and review technique (PERT)?

Answer 14

When you are dealing with projects that have uncertainty in the time of completion and have optimistic, most likely and pessimistic estimates of completion

Question 15

What is similar between CPM and PERT?

Answer 15

Both use network diagrams

Question 16

Crashing Slides 45-46

Question 17

What are some reasons you may not want to fully crash a project? (4)

Answer 17

Quality of work
Safety of employees (tired or rushed)
Employee relations
Reduced slack (harder to manage project)

Question 18

What is one thing that CPM and PERT ignore and what are some solutions? (1)(3)

Answer 18

Resource limitations
Solutions: -Move the start time of tasks with slack
- increase capacity (reallocate or purchase more resources)
- Project due date extended

Question 19

What’s the difference between the critical path and the critical chain?

Answer 19

Critical path assumes unlimited resources while the critical chain includes resource constraints

Question 20

What are some examples of project resource limitations? (3)

Answer 20

1. Skilled resources (eg. certified employees)
2. Specialized equipment (eg. crane)
3. Physical space (eg. assembly area)