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CIMA E2 > Chapter 10 - Project management: tools and techniques > Flashcards

Chapter 10 - Project management: tools and techniques Flashcards

1
Q

What are the order of the breakdown structures?

A

Work Breakdown Structure (WBS) > Work Packages (WP), Statement of Work (SOW) > Product Breakdown Structure (PBS), Cost Breakdown Structure (CBS)

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2
Q

What is the Work Breakdown Structure?

A

Breaks complex tasks into manageable pieces
Sets out the logical sequence of project events

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3
Q

What is Work Packages (WP), Statement of Work (SOW)?

A

Specifies the work to be done for each package described in the WBS
Indicates who is responsible and when the work needs to be delivered

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4
Q

What is a Product Breakdown Structure (PBS)?

A

List the products required for each activity
Used to compare different suppliers

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5
Q

What is a Cost Breakdown Structure (CBS)?

A

Number and costs allocated to each product
Creates the Financial Plan (Budget)

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6
Q

What is a project quality plan?

A

Details the standards that must be adhered to in order to ensure a successful development process. It will provide a clear indication of procedures and policies that must be followed to maintain quality within the work carried out

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7
Q

What does a project quality plan generally include?

A

Risk assessment
Project overview
Project requirements
Project organisation – stating management roles and responsibilities
Monitoring and reporting procedures
Key development stages and processes
Key standards to be used in the project
Testing strategy
Procurement policy
Configuration management

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8
Q

What is network analysis?

A

used to analyse the inter-relationships between the tasks identified by the work breakdown structure and to define the dependencies of each task.

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9
Q

What is a network diagram made up of?

A

Activity lines and nodes

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10
Q

What is written on the arrow of an the network diagram?

A

Activity Name
Duration of the activity

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11
Q

Why are nodes numbers

A

So that each node has a unique identifier

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12
Q

What are the two times that a node contains?

A

Earliest event time (EET)
Latest event time (LET)

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13
Q

What does activities start and finish with on a network diagram?

A

Nodes

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14
Q

How do we draw a network diagram?

A
  1. Draw a rough diagram to get the basic shape
  2. Add in duration for each activity
  3. Once network drawn, calculate EET and LET for each node
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15
Q

How do we read a network diagram?

A

The EET and LET of the final node will always be the same and this will equal the overall duration of the project
We can also identify the critical path, i.e. the activities where any delay will lead to a delay in the overall project. These are the activities for which EET = LET.
Some activities could increase in duration and yet the project could still be completed by the target date. Such activities are said to exhibit ‘float’. Float can generally be calculated as the difference between the LET and the EET.

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16
Q

What are the limitations of Critical Path Analysis (CPA)?

A

Time consuming for large projects
Overly complex for small, short-term projects
Difficult to use for less routine projects

17
Q

What are the benefits of Critical Path Analysis (CPA)?

A

Helps identify all required activities
Identifies dependent activities and those which can run in parallel
Identifies the activities on the critical path
Identifies activities with float
Highlights the minimum completion time for the project

18
Q

What does a resource histogram determine?

A

This is a graphical aid for determining the total requirement for a specific resource during the project. The histogram identifies, in block graph form, the fluctuating need for finance, staff, technology resources or vendor services at any stage in the project.

19
Q

How can project management software be used?

A

Planning
Reporting
Estimating
Monitoring

20
Q

What are the advantages of using project management software?

A

Improved planning and control
Improved communication
Improved quality of systems developed
Accuracy
Ability to handle complexity
What if analysis
Can help to ensure that all necessary tasks are carried out as required

21
Q

What is project management methodology?

A

A set of guidelines which defines methods and processes to be followed which should help the project be delivered successfully. It can be seen as a systematic and disciplined approach to project management

22
Q

What does PRINCE2 stand for?

A

Projects IN Controlled Environments, version 2

23
Q

What is PRINCE2?

A

process-based approach for project management developed by the UK Government. It provides an easily tailored and scalable method for the management of all types of projects. Each process is defined with its key inputs and outputs in addition to the specific objectives to be achieved and activities to be undertaken

24
Q

What is the PRINCE2 organisational structue?

A

Senior User, Executive, Senior Supplier

Project Assurance team < Project Manager<Project support

Stage team leader

25
Q

What are the PRINCE2 process areas?

A

Starting up a project
Initiation
Managing stage boundaries
Controlling a stage
Managing product delivery
Project closure

26
Q

What does the project management body of knowledge (PMBOK) include?

A

Time
Integration
Human Resources
Scope
Cost
Communication
Risk
Procurement
Quality

27
Q

What is the process of a risk assessment?

A

Identification > List of potential risks
Analysis > Prioritised list
Planning > TARA
Monitoring

28
Q

According to risk management - TARA if the likelihood is low and impact is low what should we do?

A

Accept

29
Q

According to risk management - TARA if the likelihood is low and impact is high what should we do?

A

Transfer

30
Q

According to risk management - TARA if the likelihood is high and impact is low what should we do?

A

Reduce

31
Q

According to risk management - TARA if the likelihood is high and impact is high what should we do?

A

Avoid

32
Q

What is the project evaluation and review technique (PERT)?

A

6

Each task is assigned a time:
O = optimistic (best) time
m = Probable time
p = pessimistic (worst) time

33
Q

What is scenario planning?

A

Scenario planning involves considering one or more sets of circumstances that might occur, other than the ‘most likely’ or ‘expected’ set of circumstances. Each set of assumptions is then tested to establish what the outcome would be if those circumstances were actually to occur

34
Q

What is buffering?

A

This involves adding artificial slack into risky activities. It adds padding to the original estimates and allows for the fact that it can be very difficult to ensure that all stages and activities are carried out exactly as planned

35
Q

What is a gantt chart?

A

A horizontal bar chart where the length of the bar represents the duration of the activity. It is usual to use two bars, one showing the planned duration and the second showing the actual duration.

36
Q

What are the additional benefits of gantt charts?

A

Easier visualisation of relationships.
Drawn to scale and uses real time.
Can show actual durations.
Helps in resource allocation.

37
Q

What is a control gate?

A

Some milestones are key points in the project life cycle which give the project sponsor or steering committee an opportunity to review project progress, and make a decision whether to proceed further or to terminate the project

38
Q

When can a control gate be passed?

A

if the progress meets pre-defined performance standards

CIMA E2 (16 decks)

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