Chpt 8 part 2 Managing Projects

Question 1

PERT - Project evaluation and review technique

(3) explanation and calculation

Answer 1

1 - Predict Critical path
2 - predict standard deviation of times
3 - assists with risk in time planning

Expected time = (o+4m+p)/6

Question 2

Project Initiation Document (3)

Answer 2

Define project/objectives
Budgets - time/cost
Responsibilities of team

Question 3

Progress Reports (3)

Answer 3

Feedback to stakeholders - improve
Left to do?
status update cost/time?

Question 4

Completion Report (3)

Answer 4

Lessons learned
Meet objectives
Customer sign off

Question 5

Post-Completion Audit (3)

Answer 5

Executive summary
actual cost/time vs budget
recommendations going forwards

Question 6

Slippage - behind schedule options (7)

Answer 6

1 - Do nothing
2 - Add Resources
3 - Work Smarter
4 - Re-plan
5 - Reschedule
6 - Introduce incentives
7 - Change specifications

Question 7

Feeding buffer

Answer 7

Add to non-critical tasks

Question 8

Capacity buffer

Answer 8

resource usage btw different projects

Question 9

Resource buffer

Answer 9

ensure key resources available

Question 10

Project management maturity model (5)

Answer 10

lvl 1 - basic
lvl 2 - common standards/process
lvl 3 - one approach through org
lvl 4 - bench marking
lvl 5 - continuous improvement and feedback