Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

MBA > Supply Chain Project Management Quiz 1 > Flashcards

Supply Chain Project Management Quiz 1 Flashcards

1
Q

Define what a project is?

A

A complex, one-time effort that is limited by time, budget, resources and specifications based on the customers needs.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What are the characteristics of a project?

A
  1. Objective
  2. Defined lifespan
  3. Requires total organisation participation
  4. Involves nothing that has never been done before
  5. Has time, cost, performance characteristics
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are the 5 process groups?

A
  1. Project initiation
  2. Project planning
  3. Project execution
  4. Project monitoring and control
  5. Project closure
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Describe the different of the integrated management of projects?

A
  • Strategic alignment
  • Portfolio management
  • Project management
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Describe the need analysis?

A

Analyse the project objectives and strategic fit with the organisation, by applying a swot analysis. Also, incorporated is the requirement to set priorities and the correct strategic project fit.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What are the benefits of an integrative approach

A

provides an overview of all project management activates, it also provides a macroeconomics view of how organisational resources are used, including a risk assessment of their portfolio of projects, a rough metric of the firm’s improvement in managing projects relative to others in the industry, linkages of senior management with actual project execution management

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is a statement of work (SOW)

A

a detailed description of the required work for a project/contract.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is included in the statement of work and define each

A
  • Objectives: describes the work to be done
  • Location of work: describes where the work must be performed
  • Period performance: described when the work must start, the working hours and the number of hours that can be billed each week
  • Deliverables: describes the deliverables in detail and when they are due
  • Applicable standards: specifies any organisational or industry standards that are relevant to performing the work
  • Acceptance criteria:
  • Special requirements
  • Project charter
  • Define project scope
  • Identify project priorities
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is a project charter? What is included in a project charter?

A

A document that defines the existence of a project and provides the manager with authority to apply resources to undertake the project.

Included in the project charter is the:

  • Project description
  • Name of person authority provided to
  • The needs of the business
  • The reasons for doing the project
  • Required resources
  • Stakeholders
  • Stakeholders requirements
  • Product description
  • Constraints
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What are the development factors that a project charter needs and define them.

A
  1. Inputs from the project sponsor/initiator:
    - Scope of Work
  2. Entreprise/Organisational Inputs:
    - Enteprise factors: industry standard, quality standards, organisational culture and structure
    - organisational factors: policies, process, charter
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Define the project scope and describe the purpose?

A

The project scope refers to a definition or description of the end result of a project to the client in measurable terms.

The purpose of the project scope is to define the deliverables of the project and to avoid misunderstandings.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What are the causes of Project Trade-Offs?

A
  • Changes in budget costs
  • Changes in time schedule
  • Changes in the performance scope
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

How do you manage changes in priorities of Project Trades-Offs?

A
  • Constrain: a parameter is a fixed requirement
  • Enhance: optimising a criteria over others
  • Accept: reducing a criteria
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is a project scope and what is included?

A

A project scope is a document in project planning that refers that contains a projects objectives, deliverables, milestones, limits and reviews with the customer.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Define Scope Creep and provide an example

A

Refers to the tendency for a project to expand over time due to changes in priorities, requirements and specifications.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Define a Work Breakdown Structure

A

A hierarchical outline that identifies products and work elements in a map, it also identifies deliverables into sub deliverables and their relationship to the work package.

17
Q

Define Work Package

A

Refers to individual project activities as part of the overall project. Included in the work package is the type of work, the cost, required resources, time etc.

18
Q

How does the WBS help the project manager?

A
  • Evaluates the cost, time and performance of an organisation on a project.
  • Provides management with information appropriate to each organisational level
19
Q

Describe the term ‘estimate’ in the context of project management? What are the two methods of estimation and define those?

A

Refers to the estimation of the approximate time/cost for the deliverable. The two types of methods involved in estimation include:

  • The top-down approach (macro): group consensus and mathematical relationships
  • the bottom-up approach (micro): elements of the work breakdown structure
20
Q

What is a critical path?

A

Is the shortest expected time in which the project can be completed in the activity network.

21
Q

What is a non-renewable resource?

A

Refers to resources that are exhausted as a result of being used over the entire project horizon. Examples include raw capitals and materials.

22
Q

What is a renewable resource?

A

Refers to resources that are not exhausted and are available over the entire length of the project. Example include Machinery, Materials

23
Q

What is a time constrained project?

A

A project that must be completed by a fixed date.

24
Q

What is a resource constrained project?

A

A project were the level of resources cannot be exceeded.

25
Q

What is a limiting assumption?

A

Splitting activities is not allowed, once an activity is started it must be carried until the end.

26
Q

How to you resource allocate time constrained projects? And describe the solution.

A

The application of leveling techniques focuses on balancing and smoothing out the demands by using positive slack time to manage resources over the duration of the project.

By applying levelling the peak resource demands are reduced and the resources over the life of the project is reduced.

27
Q

What are the advantages of resource leveling?

A

The advantages of resource levelling falls under two categories including managerial implications in which managers require less hands on if the use of a given resource is constant over the period of use.

The cost implications are that when resources are levelled, the associated costs also tend to be levelled.

28
Q

How do you schedule a resource-constrained project?

A

Schedule the following in the following order.

  1. Minimum slack
  2. Smallest (least) duration
  3. Early start
29
Q

What are the impacts of resource-constrained scheduling?

A

Reduces flexibility because of the reduction in delay, it also increases scheduling complexity and makes the critical path no-longer meaningful.

30
Q

In-time constrained projects, using the resource levelling technique for resources will?

A

reduced peak demand for the resource

31
Q

The impacts of resource levelling in time constraint projects will cause?

A

A decrease in the flexibility of time constrained projects

32
Q

Jan is trying to reallocate resources in a time-constrained project to create smoother resource utilization with a low level of risk. She should move to activities with the?

A

Most Slack

33
Q

If, for some reason, the project must be expedited to meet an earlier date, which of the following actions would the project manager take first?

A

check to see which activities are on the critical path

34
Q

Activities that are not on a critical path but have little slack need to be monitored closely because

A

A. near-critical paths could become critical paths with small delays in these activities
they have a high risk of not being completed

35
Q

If resources are not adequate to meet peak demands, the resulting reschedule is termed?

A

Resource-constrained scheduling

36
Q

In a resource-constrained project, usually the first priority in assigning resources is usually given to activities with the?

A

Least slack

MBA (5 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions