Project management tools and techniques Flashcards
What is a work breakdown schedule?
Analyses the work required to complete the project in manageable components or workstreams.
What is a Workstream?
Refers to a sequence of tasks completed by different groups that are required to complete a single project.
Name 4 breakdown structures:
1.) Work Packages (WPs) - Outlines the work to be performed for each area set out in the WBS.
2.) Statement of Work (SOWs) - Sets out the deliverables from which the success of a project can be measured. Also specifies which member of project team is responsible for delivering work and by which point in time.
3.) Product Breakdown Structure (PBS) - Outlines the equipment (products) needed to complete specific project tasks.
4.) Cost Breakdown Structure (CBS) - Consists of cost-related information collected from WBS, WP, SOW, PBS in addition to capital and revenue elements. The CBS leads to creation of project budget.
What is a Gantt Chart?
Horizontal bar chart that is used to plan the timescale for a project and to estimate resources required.
Also shows time relationships between tasks. Especially useful in identifying and managing knock-on effects of a delay to a particular task running behind schedule.
What is Network analysis (Critical Path Analysis)?
Used to prepare a network chart which helps with planning and controlling of complex projects. Works as follows:
-Duration of each task is estimated in days
-Tasks are arranged in logical sequence
Chart can be used to identify activities that need to be prioritised to meet project deadline and those that could be delayed without impacting final delivery date.
(Tufte) four ways in which Data Visualisation can support project managers?
1.) Enhance communication
2.) Boost collaboration
3.) Improve clarity
4.) Interactive
What is the definition of Project Evaluation and Review Technique ?
A modified form of network analysis designed to account for uncertainty.
What is Risk and Uncertainty?
1.) Risk =Probability of an unwanted outcome happening
2.) Uncertainty = An unwanted outcome whose probability cannot be estimated
What are the 5 steps that Project Risk Management follows?
1.) Identify risks and record risks in risk register
2.) Assess risks in terms of impact and probability
3.) Plan and record risk management strategies as planned.
4.) Carry out risk management strategies as planned
5.) Review and monitor success of risk management approach.
What are the sources that risk can come from?
-External (political,economical,social, technological)
-Internal (changes in project scope,internal processes)
Risks can be categorised into following types:
1.) Quantifiable risk - probability can be estimated by statistical analysis of past occurrences
2.) Unquantifiable risk - uncertainty, for which statistical probabilities are not available.
3.) Socially constructed risk which relates to way people may underestimate some risks and overestimate others.
What is Scenarios?
Detailed and plausible views of how business environment of an organisation might develop in the future.
What are the 6 steps in Scenario Planning?
1.) Decide on drivers for change
2.) Bring drivers together into viable framework
3.) Prioritise seven to nine mini-scenarios
4.) Group mini-scenarios into two or three larger scenarios
5.) Write up scenarios in a format that is most suitable for project manager using them.
6.) Identify issues arising
(LEER DIE MEER DETAIL)
What are some risks that Project Management bring?
- Some managers become so focused on micro-managing project that they lose sight of project itself
- Project management software assumes that tasks are delivered in discrete, sequential manner. Not always case in reality
- Software relies on estimates which may or may not be accurate
-Software does not record human factors such as skill levels or staff motivation even though these can have a profound effect on project.
Software can support project management in the following ways:
1.) Planning and scheduling
2.) Estimating and controlling costs
3.) Monitoring
4.) Reporting
