Final - BUSN 330 Flashcards
Failure Costs
The cost of poor quality
Three Project Quality Management Processes
1) Quality Planning
2) Quality Assurance
3) Quality Control
Quality
concerned with whether the product meets stated requirements
Grade
distinguishes between products that have the same use or purpose
Quality Management (4)
1) customer satisfaction
2) prevention over inspection
3) management responsibility
4) continuous improvement
Quality Audits
are independent reviews to determine whether a project is in compliance with the policies, processes, and procedures of the organization and project.
Process Analysis
studies the problems, constraints, and non-value-added activities in a process.
Three Quality Tools useful in quality control
Statistical Sampling
Inspection
Defect Repair Review
Cause and Effect Diagrams (Fishbone)
examine potential causes of results in the areas of time, energy, machine, method, material, measurement, personnel, and environments
Two external sources to consider when estimating project costs
- Marketplace conditions
- Commercial databases
Constraints
limitations that need to be considered when costing the project (budget, delivery dates, resource availability)
Assumptions
anything that are considered real, true, or certain. Usually legally or contractually based (buildings must meet code)
Cost Aggregation
when the schedule activity costs are aggregated by work packages
CPI
tells if a project is on, over, or under budget.
CPI < 1 = over budget
CPI > 1 = under budget
SPI
tells if a project is on, ahead, or behind schedule
SPI < 1 = behind schedule
SPI > 1 = ahead of schedule
Risks in International Project Management (5)
1) Political Risks
2) Financial Risks
3) Natural Risks
4) Legal Risks
5) Cultural Risks
Geert Hofstede Cultural Dimensions (5)
Ranks cultures in five areas:
1) power distance index
2) Individualism
3) Masculinity
4) Uncertainty Avoidance Index
5) Long-Term Orientation
Four Processes of Project Human Resource Management (4)
1) human resource planning
2) Acquiring project team
3) Developing project team
4) Managing project team
Matrix-based responsibility chart
shows the work that needs to be done and who will do it
RACI (Matrix based)
R - Responsible
A - Accountable
C - Consult
I - Inform
When determining the roles and responsibilities of project team members the following are taken into account (4)
1) Role
2) Authority
3) Responsibility
4) Competency
Maslow Hierachy of Needs
1) Physiological
2) Safety
3) Belonging
4) Esteem
5) self actualization
Acquiring the project team
- Availability (who is available and when are they available)
- Ability (who has the right competencies for the project)
- Experience (who has experience on similar projects)
- Interests (who wants to be a project team member)
- Costs (the cost of having the person on the project team)
Four Processes in Project Communications
1) communications planning
2) Information Distribution
3) Performance Reporting
4) Manage Stakeholders
Communications Model
encoding: the sender puts thoughts into words that can be understood by the receiver
message: what the sender is trying to convey
medium: the tool the sender is using to convey the message
decoding: having the message understood by the receiver
Communication Channels needed
if you have a project with 25 stakeholders, the number of communication channels would be 300 or (25 x 24) ÷ 2. Total communication channels = (n (n-1)) / 2
Consequential theories
concerned with the outcome of the decision
non-consequentialist theories
principle based
Egotism
Egotism is an individualist consequentialist theory. This theory holds that people will make decisions based on their own interests. The limitation of this theory is that it doesn’t take into account individuals who pursue actions at another’s expense.
Utilitarianism
Utilitarianism is a community consequentialist theory that stresses actions that produce the greatest good for the largest number of people. Limitations of this theory include that the determination of the greatest good is subjective, may be hard to quantify, and overlooks the needs of minorities.
Deontology
deontology states that people act based on a sense of duty. Limitations with this theory include assuming that everyone follows and agrees with the same set of principles
Rights and justice
The theory of justice uses concepts of “rights” and respect for human beings as the focus of ethical decision-making. One of the limitations with this theory is that fairness and rights are not universally accepted or defined.
imperialist approach
ethical code they followed at home to determine their response to the ethical dilemmas they faced internationally.
relativist approach
“When in Rome, do as the Romans do” model
universalist approach
global standards and rules or international laws to determine their ethical stance in other countries
relationship-building approach
Managers who used this approach tried to establish trust through building relationships.
Strategies to deal with negative risks or threats (4)
- Avoid - eliminates risk by changing plan
- Transfer - removes risks and shifts responsibility to a external party
- Mitigate - reduces the probability or impact of a negative risk
- Accept - does not try to eliminate risk
A dispute may progress through the following steps
1) negotiation
2) mediation (not legally binding)
3) arbitration (legally binding)
4) Litigation
Status Reports
look at the performance of the entire project at a certain point
Progress Reports
look at the performance of a project from the last time a progress report was issued
Forecast Report
detail what is expected to happen on the project
Variance Report
compare the difference between planned and actual activity for the project
Earned Value Report
measure performance in terms of what project work has cost versus what it was budgeted to cost
Four Communication styles
1) Direct
2) Spirited
3) Considerate
4) Systematic
The four strategies to deal with positive risks or opportunities are:
Exploit – This strategy takes advantage of opportunities.
Share – This strategy shares the benefits of positive risks with another party.
Enhance – This strategy increases the probability or positive impact of an opportunity.
Accept – This strategy does not try to eliminate or change the impact or probability of the risk. Passive acceptance of a risk allows the risk to occur as it will. Active acceptance of a risk may require a contingency reserve of time or money.
