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E2 CIMA > Chapter 14 - Project Management > Flashcards

Chapter 14 - Project Management Flashcards

1
Q

Project mgmt

A

Integration of all aspects of a project, ensuring that the proper knowledge and resources are available when and where needed and the expected outcome is produced timely and cost efficient.

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2
Q

Project constraints

A

Time
Quality
Cost

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3
Q

Project life cycle

A

Need
Solution
Implementation
Completion

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4
Q

5 Process Areas

A 
Initiation
Planning
Execution
Controlling 
Closing/Completion
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5
Q

Initiation

A

Driven by (high) level objectives

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6
Q

Feasability

A

New projects require considerations and planning
A feasibility study might be carried out

Technical
Social or operational
Ecological or environmental
Economic or financial (capital, revenue, finance)

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7
Q

Risk & Uncertainty

Risk

A 
Identify
Analyse - probability 
Prioritise
Management - how address
Resolution 
Monitoring
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8
Q

Managing risk

A

Transfer (subcontract or insure)
Accept
Reduce
Avoid

TARA

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9
Q

Risk & Uncertainty

Uncertainty

A

Impossible to evaluate
Probability unknown

Contingency planning

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10
Q

Project initiation document (PID)

A 
Purpose
Deliverables
Cost and time
Objectives (or mission or milestones)
Stakeholders
Chain of command
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11
Q

Project planning

A 
Helps to:
Communicate what has to be done
Encourage forward thinking
Provide success measures
Clarify time, people, costs
Determine achievability
Identifies activities and resources 
Plans for:
Time
Cost
Quality
Resources
Contingency
Communication
Deliverables
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12
Q

Important PM planning stages

A

Define objectives
Communicate objectives
Clarify a successful project outcome

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13
Q

Project Constraints (4)

A

Time
Cost
Quality
Scope

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14
Q

Project execution

A

Change control: mgmt process - prioritisation, authorisation, agreement oncost, record change, communicate change

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15
Q

Project config mgmt

A 
Version control
Docu ownership
Authorisation and tracking
Monitoring and control of the above
Accesscontrol
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16
Q

Project control

A

Report the deviation
Authorise
Correct

Purpose:
Prevent
Correct
Prevent future deviations
Implement monitoring
17
Q

Performance management

A 
Performance mgmt:
Scope performance measures
Functional quality
Technical quality
Client satisfaction

Conformance mgmt:
Inspection
Quality control
Quality assurance

18
Q

Project report

A

Exceptions
Progress (status, issues, corrective action plan, milestones, next report date)
Meetings (team, progress with customer or steering committee)

Others:
Problem solving
External

19
Q

Completion

A 
Delivered to user
End of meeting
Sign off
Review (internal, external, business)
Final report
Team disbanded
20
Q

Final report

A 
Overview
Original requirements
List of deliverables
Actual achievements re costs, schedule, scope
Original scope achieved
Future considerations 
Purpose: 
Ensures project is really complete
Explain variances vs scope, costs, time, etc
Review mgmt process
Probs encountered
21
Q

Post Completion Audit (PCA)

A

Review success after a few months
Address remaining issues
Establish if benefits are realized

22
Q

Continous improvement

A

Project mgmt requires continuous improvement to avoid repetition of mistakes.

23
Q

PM tools and techniques

Planning activities and costs

A 
Work breakdown structure (WBS)
Work packages (WP) and statement of work (SOWs)
Product Breakdown Structure (PBS)
Cost breakdown structure (CBS)
24
Q

Project quality plan (PQP)

A 
Risk assessment
Project overview
Project requirements 
Project organisation
Monitoring and reporting procedures
Key development stages and processes
Key standards
Testing strategies
Procurement policies
Configuration mgmt
25
Q

Critical path analysis (CPA)

A 
Analyse project
Draw network
Estimate time and costs
Locate critical path
Schedule project
Monitor and control progress
Revise plan
26
Q

CPA
Pro’s
Con’s

A

Limitations
Too time consuming to produce and monitor for large projects

Benefits
Identifies all activists
Ident parallel and dependent activities
Ident critical activities for timeliness
Ident non-critical activities
27
Q

Project mgmt dealing with siks

A

PERT (Project Evaluation and Review Technique)
Scenario planning
Buffering
Gantt Chart (horizontal bars showing the tome of completion takes)
Milestones and control gates (with go, no go decision)

28
Q

Resource planning

A

Resource histogram! What a

Surprise

29
Q

Project mgmt software is useful for

A

Planning
Estimating
Monitoring
Reporting

30
Q

Name 2 tools for PM

A

PRINCE2 - UK government

PMBOK - US Project mgmt institute

31
Q

Project

A

Unique
Defined beginning and end
Resourced

A human activity that achieves a clear objective against a timescale.

E2 CIMA (16 decks)

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