lecture 4 Flashcards
What are the 5 common characteristics of projects?
PLIUC
Purpose :
Project is usually a one-time activity with clear objectives.
Life Cycle :
project follows a life cycle of tasks (conception, selection, planning, scheduling, monitoring, control, termination)
Interdependencies:
Projects involve many activities in specific sequences, and each activity is usually inter-dependent on the completion of others.
Uniqueness:
projects have unique features that require managerial attention but with common elements.
Conflict:
Many stakeholders with conflicting objectives; thus requiring many resources and much management attention.
Project management process comprises of 3 things which are?
Planning
Scheduling
Controlling
Explain planning in a project management process.
Planning process begins with statement of work and description of written objectives which are agreed upon all parties.
Statement should contain tentative schedule and proposed budget.
Project scope is divided & further subdivided into work packages.
Useful tool for planning is the Work Breakdown Structure (WBS) :
- WBS is a hierarchical tree or outline of tasks required to achieve objectives.
- WBS begins with the end objective
- WBS subdivides work into manageable components.
Explain scheduling of activities in a project management process.
- Scheduling begins with the time and cost estimates for each work activity
- Scheduling also determines the precedence relationships between activities- what activity should be done first before others
- Project schedule is displayed via a visual network diagram-with start and finish dates
- Allocation of resources is also planned at this stage
(can influence project duration cost)
Explain controlling in a project management process.
- This phase is to monitor the project for progress at different intervals (called milestones)
- Expenditure is also tracked against the budget proposed earlier
- to ensure all aspects of the project is implemented according to the objectives, time and budget.
- schedule and plan will be revised if necessary to keep to the objectives.
Explain Critical Path Method
CPM is an approach to determine the start and finish dates for individual activities in a project.
- It requires identifying a critical path using the AON framework, ie an unbroken chain of activities from start to finish.
- Any delay in the starting time of any activity within this chain will result in the delay of the entire project completion time
- some activities within this chain can be classifies as critical activities; will receive more management attention and priorities for resource allocation.
- CPM assigns time/cost estimates on each activity
- computes the longest time path through this network called the critical path
- use the network to help plan, schedule, monitor and control the project.
Define slack time
slack time is the length of time that an activity can be delayed without delaying the entire project.
if an activity has 4 days slack time, the start of the activity can be delayed for a maximum of 4 days. however if it is used to its maximum limit, the total slack time becomes 0 and becomes critical for that activity to be completed immediately.
Define critical path
critical activities have 0 slack time and hence these activities have no scheduling flexibility. Activities must be finished within the stated period of time, otherwise, the project finish time will be delayed.
when top 2 = bottom 2
What are the sources of unexpected problems? (3 things)
Cost
Time
Performance
source of unexpected problems
List Cost:
- difficulties require more resources
- scope of work increases
- initial bids or estimated were too low
- reporting was poor or untimely
- budgeting was inadequate
- corrective control was not exercised in time
- price changes of inputs
source of unexpected problems
List Time:
- Delay owing to technical difficulties
- Initial time estimates were optimistic
- task sequencing was incorrect
- required resources not available as needed
- necessary preceding tasks were incomplete
- client-generated changes
- unforeseen government related regulations.
source of unexpected problems
List Performance:
- Unexpected technical problems arise
- Insufficient resources are available
- insurmountable technical difficulties
- quality or reliability problems occur
- client requires changes in specifications
complications with functional areas - a technological breakthrough occurs
