4.1 - Compare and contrast various project management tools

Question 1

Project Scheduling Software

Answer 1

• Project schedule network diagram: graphical representation of the sequence of project activities and dependencies
• Precedence Diagramming Method: uses boxes or nodes to represent activities and arrows to show precedence relationships
• Conditional Diagramming Method: network diagramming that allows for sequential activities such as loops/conditional branches
• Project management software: generates and organized resource information, cost estimates, WBS, project schedules

Question 2

Charts

Answer 2

• Process diagram: flowchart, sequence of events
• Histogram: bar chart of variables, identify cause of problems, show distribution of data,
• Fishbone: cause/effect diagram, looks like a fishbone, identify possible causes of problems
• Pareto Chart: histogram that shows causes of problems in order to severity, ranks causes in hierarchical format
• Run Chart: line graph, shows trends/improvements in process over time
• Scatter Chart: diagram showing relationships between two variables
• Gantt Chart: visual representation of project in horizontal bar chart form, time is shown with activities, may include dependencies and completion percentage, often used when representing status to upper management

Question 3

Dashboard/Status Report

Answer 3

• Dashboard: status board commonly using colored indicators to provide project status at a glance
• Status Report: summary of activities over a cumulative period of time

Question 4

Knowledge Management Tools

Answer 4

• Intranet Sites
• Intranet sites
• Wiki pages
• Vendor knowledge bases: qualified vendors list/internet knowledge base, information about vendors
• Collaboration Tools

Question 5

Performance Measurement Tools

Answer 5

• KPIs: quantifiable and measureable metrics to indicate if project is meeting its goals
• KPPs: key system requirements that must be met for a system to meet its goals
• Balanced Scorecard: integrates project management and portfolio management so projects are aligned with strategy, focus on meaningful areas of improvement - FINANCIAL, CUSTOMER, INTERNAL PROCESS, LEARNING/GROWTH

Question 6

Responsible, Accountable, Consulted, Informed (RACI) Matrix

Answer 6

• links key stakeholdres to specific project deliverables or activities by assigning responsibilities for each person
• RACI matrix helps depict level of responsibility for each project team member, provides clarity on roles and responsibilities//hel