Lecture 6 (ch9,10)

Question 1

What are the resources to manage in a project?

Answer 1

People, buildings, supplies, materials, facilities, tools, equipment

Question 2

What is resource management?

Answer 2

The process of assessing all types of resources required for each activity to complete it at a specific time

Question 3

The estimates of resources needed for all activities is important because?

Answer 3

Because if the resources required aren’t available the activities may need to be delayed.

Question 4

Is the resource people important for a project?

Answer 4

Yes. Planning for what number of people and what people you assign to each activity is important for its success. You want to attract talent and give people assignments that they like and can perform to stay motivated.

Question 5

What is a staffing management plan?

Answer 5

A proposal focused on acquiring, developing, and retaining human resources for as long as you need them on the project.

Question 6

What is a staffing management plan?

Answer 6

A proposal focused on acquiring, developing, and retaining human resources for as long as you need them on the project.

Question 7

What timing issues can arise when scheduling and doing a resource plan for the project?
(focusing on people…)

Answer 7

Timing issues may arise in connection to:
1. When to bring people onboard to stay needed and motivated.
2. Issues on people being remote or participating digitally.
3. When and how to release project participants.

Question 8

What does RACI stand for?

Answer 8

Responsible, Accountable, Consult, Inform. It is a responsibility assignment matrix.

Question 9

What is RACI?

Answer 9

It is a responsibility assignment matrix

Question 10

What is resource leveling

Answer 10

It is a project execution technique of adjusting the use of resources based on availability and the amount of float on activities to accomplish work ASAP. Float= the time possible to delay an activity without affecting another.

Question 11

Name different ways of compressing the schedule:

Answer 11

Ways to reduce the critical path:
Reduce the project scope and/or quality,
Increase the number of work hours per day,
Schedule activities that are normally in sequence at the same time,
Shorten the duration of critical activities,
Shorten activities by assigning more resources,
Shorten activities that cost the least to speed up, and
Shorten the activity with the least probability of increasing project risk.

Question 12

Two important techniques to speed up process and help stay on schedule when problems occur:

Answer 12

1. Crashing = Spending extra money to speed up a certain activity on the critical path.
2. Fast tracking = Allows activities that usually is performed in sequence to be done in parallel.

Question 13

What is the “crashing” technique called in agile project management?

Answer 13

Swarming. Like bees ( the project team) swarm the problem and solves it quickly.

Question 14

What characterizes agile planning?

Answer 14

Collaborative approach to workers and stakeholders. Projects planned in short increments (sprints). Schedule is based on finishing those sprints. They have no formal change control to the scope since the scope is loosely defined from the start.

Question 15

When to use resource leveling?

Answer 15

Use resource leveling to reduce peak demands by postponing non-critical activities

Question 16

What does the triple constraint consist of?

Answer 16

Scope/quality, Schedule/time, Budget/costs

Question 17

What is a budget?

Answer 17

A budget is the total sum of money allocated for the whole project and during a specific time.

Question 18

What is the goal of budget management?

Answer 18

It is to control and keep the project’s cost within the budget boundary and still deliver the expected goal/outcome.

Question 19

Namedrop the three steps in budget/project cost management:

Answer 19

1. Estimate costs.
2. Determine a budget.
3. Control budget.

Question 20

What is a direct cost?

Answer 20

Costs linked to the work carried out on the project

Question 21

WHat is indirect cost?

Answer 21

Costs that are not linked to the work carried out outside of the project.

”
Indirect costs represent the expenses of doing business that are not readily identified with a particular grant, contract, project function or activity, but are necessary for the general operation of the organization and the conduct of activities it performs.”

Question 22

Is it best to do a budget before or after the WBS and time plan?

Answer 22

After. You must base the cost estimations on the activities that need to be carried out set out in the WBS and the duration of those.

Question 22

Is it best to do a budget before or after the WBS and time plan?

Answer 22

After. You must base the cost estimations on the activities that need to be carried out set out in the WBS and the duration of those.

Question 23

You summarize the budget based on two “factors” what two factors?

Answer 23

You usually do item-wise summaries and year-wise summaries.

Question 24

What should be done in regards to the budget when the execution of the project plan has begun?

Answer 24

Monitor and control that is it being followed. And also to see if estimations seems to be reasonable in general.