Chapter 5 Flashcards
A critical success factor for effective time management is _ _ of standards and expectations.
timely communication
The most widely-used tools for scheduling, monitoring, and communicating time aspects of projects are the /
PERT/CPM
PERT
Program Evaluation Review Technique
CPM
Critical Path Method
Time is a resource if managed effectively, otherwise it is a _
constraint
_ _ relates to the anticipated planned activities and the unexpected events.
Time management
To be effective, a project manager must be organized and _ _
prioritize work
A PM must plan her vacation to _ with daily and routine work
disconnect
An effective manager has a _ _
priority list
_ can affect project organization, progress, personnel, and ultimately the outcome
Indecisiveness
The law of _ _ tells us that, beyond a certain point, additional time and energy is unnecessary and, if continued, can be counter-productive
diminishing returns
- Longer meetings do not mean better results
- Need for a communicated agenda
- Need for continued focus and control
- Opportunity for participation
- Summation of outcome and closure
An effective PM conducts meetings with 5 principles in mind:
- Coordinate the various project tasks.
- See the relative importance of each activity.
- Determine the time to complete each activity.
- Identify tasks that will delay the entire project if they are not completed as scheduled.
- Reschedule activities in order to reduce the total time.
- Control project progress
How PERT / CPM helps PM’s
PERT / CPM shows the _ and _ for each activity and enables the project manager to determine which tasks may become _
sequence, duration, bottlenecks
PERT is described in terms of a network that consist of activities connected by _
arrows
Using a PERT / CPM network can determine the total project completion time by identifying its longest path, or _ _
critical path
A _ is a sequence of connected activities that extends from the starting node to the completion node
path
starts by determining the earliest start and the earliest finish as well as the latest start and the latest finish times
Critical path analysis
Activities with _ slack time form the critical path
zero
A popular approach for estimating activity duration involves obtaining these three estimate
o Optimistic
o Pessimistic
o Most likely
t= (o+ 4m + p) / 6
Multiple estimate formula