Learning Outcome 8: Understand schedule and resource optimisation

Question 1

Describe the process to create and maintain a schedule

Answer 1

Identify Tasks :

Estimate Duration :

Identify Relationships/Dependencies :

Optimise Schedule :

Assign Resources :

Confirm schedule meets target criteria for time & cost :

Baseline Schedule and Monitor :

Question 2

Explain Critical Path :

Answer 2

is created from a Network Diagram, it is the sequence of tasks that has the longest duration and must be completed in sequence for the project to be completed within the desired timeframe.

Question 3

Explain Gantt Charts :

Answer 3

is a bar chart displaying the timeline for a project, the length of each bar representing the duration of the task, arranged in chronological order.

Question 4

What are the steps of a Critical Path Method:

Answer 4

1. Identify all activities required to complete the task.
2. Determine the sequence of activities and dependencies between them.
3. Create a Network Diagram to represent activities and dependencies.
4. Estimate the duration of each activity.
5. Calculate the earliest start and finish times for each activity.
6. Calculate the latest start and finish times for each activity.
7. Identify the Critical Path - the longest sequence of activities required to complete the project.
8. Calculate total project duration.

Question 5

What are the advantages of the Critical Path Method

Answer 5

1. Helps the PM to identify the minimum time to complete a project.
2. Can estimate the earliest start and finish times for each activity as well as total project duration.
3. Enables PM to identify activities that can be delayed without affecting completion date.

Question 6

What are the disadvantages of the Critical Path Method

Answer 6

Assumes all tasks have fixed duration.
Does not account for the variability in the time required to complete each activity.
Does not account for the availability of resources on project schedule.

Question 7

What are the steps of a Critical Path Method:

Answer 7

1. Identify all activities required to complete the task.
2. Determine the sequence of activities and dependencies between them.
3. Estimate the duration of each activity taking into account resource availability.
4. Create a Network Diagram to represent activities and dependencies.
5. Identify the Critical Chain - the minimum time required to complete the project.
6. Add resource buffers to manage uncertainty.
7. Identify project buffers to manage over project uncertainty.

Question 8

What are the advantages of the Critical Chain Method

Answer 8

1. CCM considers the availability of resources and resource constraints making it more realistic.
2. CCM uses buffers to manage uncertainty and variation in the schedule.
3. Helps the PM to manage resources effectively.

Question 9

What are the disadvantages of the Critical Chain Method

Answer 9

1. Probabilistic method, can be difficult to estimate duration effectively.
2. Requires more effort and resources to manage buffers.
3. Not suitable for small projects.

Question 10

Explain how resources are categorised and allocated to a linear life cycle schedule:

Question 11

Characteristics of Resource Smoothing

Answer 11

1. Focus - Balances resource utilisation by adjusting the start/end date of activities without changing duration.
2. Effect on Project Duration - No change
3. Resource Allocation -
   Maintains constant utilisation throughout the project
4. Impact on project activities - May result in changes to activities and their dependencies
5. Applicability - Typically used when limited resources and priority is to use efficiently throughout the life of the project

Question 12

Characteristics of Resource Levelling

Answer 12

1. Focus - Balances resource utilisation by adjusting project schedule and duration of activities
2. Effect on Project Duration - May extend project
3. Resource Allocation -Optimises resource allocation without compromising objectives.
4. Impact on project activities - May result in changes to project schedule and duration
5. Applicability - Typically used when delivery on time is the priority.

Question 13

Differentiate between Cost Planning for Iterative and Linear life cycles:

Answer 13

In an iterative approach the release of funds may be more frequent due to the shorter cycles.
Cost planning will be most mature for the nearest stages and less so for those at the later stages.
Feedback from completed cycles will inform cost planning for future cycles.
Cost planning is fixed and the scope varied to deliver features within available costs.
In a linear cycle funds are released at decision gates when costs to date are understood and cost forecasts for the future are approved through the business case.