Project Management Flashcards
Briefly discuss the factors that would need to be considered in order to decide what the best project management approach will be.
■Risk—Establish levels of risk (high, medium, and low).
■ Business value—Establish levels (high, medium, and low).
■ Length—Establish several categories (such as 3 months, 3 to 6 months, 6 to 12 months, and so on).
■ Complexity—Establish categories (high, medium, and low).
■ Technology used—Establish several categories (well-established, used occasionally, used rarely, never used).
■ Number of departments affected—Establish some categories (such as one, a few, several, and all).
■ Cost
Explain how a “theory of change diagram” (TOC) can be a useful tool in project management.
A theory of change helps to identify solutions to effectively address the causes of problems that hinder progress and guide decisions on which approach should be taken, considering UN comparative advantages, effectiveness, feasibility and uncertainties that are part of any change process.
How would you complete a network diagram by using either Activity-on-Node or Activity-on-Arrow.
By working off the Activity-Duration table, either an AOA or AON can be made. First step is to determine the way in which the operations are lined up. In an AOA activity 10-20 means that an arrow would go from activity 10 to activity 20. The first number indicated the initial activity, the second number indicates the activity performed. On the arrow will be found the duration of performing that activity. (Simplest method)
in a AON network, activities, duration and proceded by and followed by are provided. Once again the first step is to understand in which way the operations are performed, and what is linked with what. Then from that, durations can be used to find
How would determine the amount of time that can be removed from a project if a cash incentive is provided for every day saved on the project duration?
Identify critical Path. Crash all the processes that are in the critical path. Then calculate the difference in cost
“Plans always go wrong, but planning is everything”. Dwight D Eisenhour.
Discuss this statement in the context of Project Planning, Control and Project Management.
Having a project plan allows you to understand which step failed, and how to improve it in future endavours.
Discussion should be focused on project planning and control as a closed loop management system e.g.
1. Determine objectives
2. Plan to achieve
3. Execute plan
4. Monitor project
5. Compare 4 with 2
6. Develop corrective actions programs
7. Evaluate competed project
Traditional project activity schedules were informed following the creation of a Work Breakdown Structure (WBS). Identify an alternative method to a WBS and comment on its additional functionality
Discussion should be direct to RACI matrix which can replace a Work Breakdown Structure (WBS). The benefit of an RACI matrix that it identifies who is responsible, accountable, consulted or informed during each activity during the project duration. A RACI matrix is a better communication tool when compared to a traditional WBS.
SACEGME Ltd is then told that the project will yield an income of £35,000, but
it must be complete in 12 weeks. Identify which activities can be crashed and
calculate the expected profit.
