E2 - 8. Managing Projects (II)

Question 1

What are the 7 top options for managing slippage in projects?

Answer 1

1. Do nothing
2. Add resource
3. Work smarter
4. Re-plan
5. Reschedule
6. Introduce Incentives
7. Change the Specification

Question 2

What are the 4 most important documents in a project?

Answer 2

1. Project Initiation Document
2. Progress reports
3. Completion report
4. Post completion audit

Question 3

What are the 6 key people involved in a project?

Answer 3

1. Owner
2. Sponsor
3. Manager
4. Team
5. Customers
6. Champion

Question 4

What are the 6 Cs of effective project team performance?

Answer 4

1. Collaboration
2. Communication
3. Clear purpose
4. Camaraderie
5. Commitment
6. Creativity & Innovation

Question 5

What are the 4 most important roles of a management accountant in a project?

Answer 5

1. Analysing and interpreting information to facilitate project decision making
2. Justify additional funding
3. Cost benefit analysis in feasibility
4. Budgets and forecasting