Lecture 10 - Project Management

Question 1

Project Definition

Answer 1

‘A temporary endeavour undertaken to create a unique product, service or result’ (PMI, 2017: 4)

Projects are low in volume (one-off) and high in variety

Question 2

Two types of Organisations (projects)

Answer 2

Project-driven organisations

– Core business activities delivered by project

– Use projects to deliver bespoke products and services to meet client specifications

– Bid for work on a project-by-project basis

Archibald (2003: 7)

Project-dependent organisations

– Use ‘routine’ processes for their core business

– Use projects to support that business (e.g. new product/service development, implementing process change, etc.)

– Projects primarily internally commissioned and funded

Archibald (2003: 7)

Question 3

Project Life Cycle

Answer 3

Definition (objectives/Scope/Strat)

Planning (Schedules, Resources, Staffing, Risks)

Excecuton (Progress Report, Changes, Quality, Forecasts)

Closeoue and Handover (Train User/Customer, Handover Deliverables, Release Resources, Review, Lessons Learned)

Question 4

WBS

Answer 4

Work Breakdown Structure

Question 5

Burst Activity

Answer 5

Activities Z & Y are preceeded by X

Question 6

Merge Activity

Answer 6

Both P and Q must be completed before R starts

Question 7

Order Picking System Project Template (sequence)

Answer 7

Question 8

Float/Slack

Answer 8

Time before or after finish or start

Question 9

Four Ts of Risk

Answer 9

Tolerate - Accept (develop contingency plan)

Treat - Mitigate (reduce probability and/or impact)

Transfer - Share the risk with others

Terminate: Avoid - don’t do it