13- Network Analysis

Question 1

Contingency planning

Answer 1

Planning alternative courses of action that could be used if unexpected events occur. Less delays when setting up a alternative plan

Question 2

Contingency plan include:

Answer 2

Remaking the plan for the project and allowing more time for it
Finding alternatives to potential problems
Ensure the financing of the project can be adjusted in the event of the contingency
Ideally- should never need to be used

Question 3

PM software

Answer 3

Planning
i.e. Product Initiation Document (PID), Project Quality Plan
(PQP), and Work Breakdown Structure (WBS), Gantt charts and
network diagrams.

Estimating
Creating project budgets and allocating them, scheduling times
for tasks and planning resource allocation, with alternatives.

Monitoring
Comparing plans with actual progress, storing documentation
and results and sharing information between project members.

Reporting
Creating end-stage reports and technical documents, and
allowing communication with and from project members.

Question 4

Buffering

Answer 4

Allowance of extra time in the project timeline to account for uncertainties and unexpected events

Question 5

Benefits of PM software

Answer 5

Easy for ‘what-if’ scenario planning
* Budgeting can be connected to plans
* Progress can be monitored and plan updates can easily be made
* Can track and manage large numbers of complex activities
* Can track individual project team member’s activities, and record and compile the results
into time sheet reports
* Higher quality systems can be developed
* Allows for easier and more accurate project planning
* Facilitates communication between project team members
Quick and easy creation of project plans