Chapter 7 - Project Schedule and Budget Flashcards
What are some advantages project network diagrams have over traditional Gantt charts?
project
network diagrams also provide valuable information about the logical sequence and dependencies
among the various activities or tasks. Subsequently, a completion date or project deadline should
be developed based on a sound estimating process rather than guesstimating a target date or a
date set arbitrarily by upper management or the client.
In addition, project network diagrams provide information concerning when specific tasks
must start and finish, and what activities may be delayed without affecting the deadline target
date. In addition, the project manager can make decisions regarding scheduling and resource
assignments to shorten the time required for those critical activities that will impact the project
deadline.
Define predecessor, successor, and parallel activities. Give a real world example of each
Predecessor activities are those activities that must be completed before
another activity can be started—for example, a computer’s operating system must be installed
before loading an application package.
successor activities are activities that
must follow a particular activity in some type of sequence. For example, a program must be
tested and then documented after it is compiled.
A parallel activity is an activity or task that
can be worked on at the same time as another activity. Parallel activities may be thought of
as an opportunity to shorten the project schedule; however, they also can be a trade-off since
doing more than one thing at the same time can have a critical impact on project resources.`
. How can parallel activities help shorten the project schedule? Are there any trade-offs?
Parallel activities may be thought of
as an opportunity to shorten the project schedule; however, they also can be a trade-off since
doing more than one thing at the same time can have a critical impact on project resources.`
What is meant by slack (or float)?
Slack, which is sometimes called float,
is the amount of time an activity can be delayed, that is, take longer than expected, before it
delays the project.
What is the difference between crashing and fast tracking a project’s schedule?
a project manager can expedite, or crash, the project by adding resources to an activity on the critical path to shorten its duration
Another way to shorten the project schedule is to look for parallel activity opportunities.
Doing two, or several, activities that were originally planned to be completed in sequence at
the same time can shorten the critical path. It is known as fast tracking
What is the difference between AON and PERT?
AON considers only the most likely estimates while PERT considers also the most optimistic and most pessimistic estimates. (AON=Activity on the Node)(PERT = Program Evaluation and Review Technique)
Define the following and give a real world example of each (other than the ones described in this book): Finish-to-Start; Start-toStart;
Finish-to-Finish; Start-to-Finish.
Finish-to-Start: when Task B can not be started until task A is completed (can’t start building a program without a defined scope)
Start-to-Start: When two tasks start at the same time. (Testing on two different types of users is done in parallel)
Finish-to-Finish: Two tasks must end at the same time
Start-to-Finish: Task A can not end until task B is started.. Shutting down the old system can’t happen until the new system has been implemented
What is the difference between lead and lag? Give real world examples (other than the ones used in this book) of how a project
manager may use lead and lag in a project schedule.
lead time allows for the overlapping of activities.
For example, a project plan may have two activities or tasks that have been identified as a
finish-to-start relationship.
. Another way of looking at this is to say we are going to schedule a negative lead day in our project schedule. (This is lag) Wanting to assign extra space between activities.
Why do many people inflate their estimates?
people often inflate or add cushioning to their time esti-
mates in order to give themselves a form of “safety” to compensate for uncertainty. People
may build safety into each task for three basic reasons. First, you may inflate an estimate if
your work is dependent upon the work of someone else. Second, you
may increase an estimate of an activity because of pessimism arising from a previous expe-
rience where things did not go as planned. Third, the project sponsor or customer may not
be happy with a proposed schedule and therefore decides to cut the schedule globally by, say,
20 percent. If you know this is going to happen, you may inflate your estimates by
25 percent just to guard against the cut.
Does adding safety to each task or activity ensure that the project will be completed as scheduled? Why or why not?
The answer
is mainly human nature. More specifically, many people tend to wait until the last minute before
they begin to work on a task. The second reason why projects are still late has to do with Parkinson’s law. This law states
that work expands to fill the time available. A third reason why added safety does not ensure that projects are completed on time has to
do with the multitasking of resources
What types of costs are there?
Direct
Indirect-These costs include such things as rent, utilities, insurance, and other
administrative costs.
Sunk-—Sunk costs are costs that have been incurred prior to the current project.
Learning Curve - —Often we have to “build one and throw it away” in order to understand
a problem or use a new technology effectively. In addition, inexperienced people will
make mistakes and new technology will usually require a steep learning curve in the
beginning. As a result, time and effort can be wasted.
Reserves—Reserves provide a cushion when unexpected situations arise
Why should the project manager ensure that the project resources are leveled?
Project costs are both directly and indi-
rectly related to the resources needed to complete a
particular task or activity or support other resources
that do. It is important that the right resources and the
right quantity of resources be assigned to the project
activities.
Why should assumptions used in estimating be documented?
the project manager should document the source of this cost in order to give the cost estimates greater credibility. In addition, the project plan may include several
working drafts. Having assumptions documented can help keep things organized as well.
What is a baseline plan?
Once the project schedule and project plan are accepted, the project plan becomes the
baseline plan that will be used as a yardstick, or benchmark, to track the project’s actual
progress with the original plan.
When does the project manager or team have the authority to begin executing the project plan?
Once accepted, the project manager and project team have the
authority to execute or carry out the plan.
