Session 3 - Important Slides Flashcards
What are the 3 Goals that need to be satisfied for a Successful Project Management?
- Scope
- Time
- Cost
Explain the Project and Process Change Matrix!
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On the left Process Change On the top Product Change Top left is highest change with “New Core Business for both axis” occupied in the matrix by “Breakthrough Projects” for example self-driving car Then from “Next Generation Process/Product” for both axis is Platform Projects occupying rest of matrix, for example WV Golf Within Platform Projects is “Derivative Projects” at the bottom right with least change in product and process
What are causes of Project Failures?
1) Failure to establish upper-management commitment
2) Lack of commitment to the methodology
3) Taking shortcuts around the methodology
4) Poor expectations management
5) Feature Creep: uncontrolled addition of technical features to a system
6) Scope Creep: unexpected and gradual growth of requirements during an information systems project
7) Premature commitment to a fixed budget and schedule
8) Poor estimation techniques
9) Over-optimism
10) The mythical man-month
> Brooks’s Law: “Adding manpower to a late software project makes it later”. The idea of a man-month, a unit of work that can be completed in one month by one man, thus the same work can be completed in half a month by 2 man, is a myth.
11) Inadequate people management skills
12) Failure to adapt business change
13) Insufficient resources
14) Failure to manage the plan
What are the 5 fundamental Process groups to solve the problem (of Project Management)?
I. Scoping II. Planning III. Execution IV. Monitoring V. Closing
What are the 10 Knowledge Areas of Project Management?
- Integration Management
- Scope Management
- Time Management
- Cost Management
- Quality Management
- HRM: Human Resource Management
- Communication
- Risk Management
- Project Procurement
- Stakeholder Management
What are 4 Important Project Management Tools?
I. Project Management Plan
II. Master Plan (Gantt Chart)
III. Resource Plan
IV. Project Status Report
What is a Master Plan?
What is a Master Plan used for?
A representation of the projects schedule, typically in a Gantt Chart format. Developed with the Work Plan (detailed schedule), it also serves as the direct input for the Resource Plan
High-level schedule for the project, including major activities and key milestones. Must be regularly maintained and aligned with the Work Plan.
3 Components of Master Project Planning & Scheduling?
1) Planning • Objectives • Resources • Work breakdown structure • Organisation > Time/Cost Estimates, Budgets, Engineering Diagrams, CF-Charts…
2) Scheduling • Project activities • Start & End times • Network > CPM/PERT, Gantt Charts, Milestone Charts…
3) Controlling • Monitor • Compare • Revise • Action > Budgets, Delayed Activities Reports, Slack Activities Reports…
What is a Gantt Chart?
A Gantt chart is a type of bar chart that illustrates a project schedule.
Length of the bar represents the duration of the task
The positioning of the bar represents the scheduling of the task
If one task follows another, then its bar follows the other ones bar
What are the 4 Criteria of the CPM? What do these criteria mean for the network?
- The Critical Path is the Longest Path through the Network
- The Critical Path is the Shortest Time in which the project can be completed
- Any delay in Critical Path Activities, delays the project
- Critical Path Activities have no Slack Time
To schedule using CPM, use the 4 Principles:
• ES: Earliest Start Time
o Earliest time at which an activity can start (assuming predecessors are completed)
• EF: Earliest Finish
o Earliest time at which an activity can be finished
• LS: Latest Start
o Latest time at which an activity can starts (without delaying the entire project)
• LF: Latest Finish
o Latest time by which an activity has to be finished (without delaying the entire project)
CPM Algorithm?
1) Pass Forward Scheduling
• Begin at starting event and work forwards
• ES Rule:
> If an activity has only a single immediate predecessor, then its ES = EF of the predecessor
> If an activity has multiple immediate predecessors, then its ES = max of all the EF of its predecessors
• EF Rule:
> EF = ES + Activity Time
2) Backward Pass
• Begin with the last event and work backwards
• LF Rule:
> If an activity is an immediate predecessor for a single activity, then its LF = LS of the activity that immediately follows it
> If an activity is an immediate predecessor for multiple activities, then its LF = mn of all the LS of its predecessors
• LS Rule:
> LS = LF – Activity Time
3) Computing the Slack Time: Create the Table
• After computing the ES, EF, LS & LF for all activities, compute the Slack Time or Free Time for each activity
• Slack Time: Length of time an activity can be delayed without delaying the entire project
> Slack = LS – ES, or
> Slack = LF – EF
• Where the Slack = 0, is the Critical Path
4) Summarise the Results
• Expected Completion time is LF of last activity
• # of Activities are on Critical Path
• # of Activities are not on CP and have slack time
What is MTA?
Milestone Trend Analysis MTA
Monitoring & controlling the project results & dates on the basis of milestone planning
> Displays past and current planning for past and future project milestones
> Graphs the milestone planning historically, providing easier analysis
What are the goals of MTA?
- Early detection of schedule deviations
- Timely initiation of countermeasures
- Graphic representation of date trends showing comparison of milestones vs actual
- Overview of being able to meet deadlines or not
How is MTA represented graphically?
- Y-Axis: calendar dates of milestones
- X-Axis: Reporting dates of milestones
- Each milestone marked by an icon
- All deadlines begin marked on Y-Axis. As the deadlines are reached, they are readjusted if the milestone is also reached. If they are late then they are slid upwards. If a deadline is pulled forward, then it is pulled downwards on the graph.
- If all deadlines are reached, then the project stays within the triangle and no lateness
