TERM 2 Topic 2.3 Transformation of a business plan into an action plan Flashcards
Provide the term of the following:
A detailed description of a proposed or existing business
Business plan
Provide the term of the following:
USING KNOWLEDGE, SKILLS AND TOOLS TO PLAN AND IMPLEMENT ACTIVITIES SO THAT THE GOALS OF THE PROJECT ARE MET
Project management
Name the NINE steps of a
B U S I N E S S P L A N
1) front cover
2) table of CONTENTS
3) executive summary
4) business description
5) production plan
6) marketing plan
7) management plan
8) SWOT analysis
9) financial plan
Provide the term of the following:
A detailed description of how a business plan will be implemented; taking a business plan and working out how to put it into action
action plan
Name 4 characteristics of a GOOD PROJECT MANAGER
- allocates lots of time for meetings
- break down activities into smaller activities
- allocate money to each activity
- identify risks and plans
4 STEPS of an Action Plan
1) Agree on OBJECTIVES
2) Set realistic TIME frames
3) Allocate RESPONSIBILITIES
4) Establish lines of COMMUNICATION
What are the ADVANTAGES of an ACTION PLAN?
> Projects can be done in a specific TIME
frame
ORGANIZE plans in a logical way
It’s a CONTROL MEASURE
It helps the project manager to be
ORGANIZED
Which questions would you ask to put an action plan in place?
(CONTROL questions)
- WHAT must happen?
- WHO is responsible?
- WHEN must it START?
- When will the activity END?
- What happened during an activity
PROJECT MANAGEMENT TOOLS:
Name the tools
Timelines
# WBS (Work breakdown structure)
# Task analysis
# Gantt charts
# Critical path analysis
Task analysis should be done ……… any other tool is introduced
before
…………………… tasks can be done at the same time as other tasks
parallel
Task analysis …………………. different tasks
evaluates
Dependent tasks cannot….(a)… until other tasks are ………..(b)………………
a) begin
b) complete
With this tool, you can plot an entire action plan on one line. What tool is this?
Timelines
Which tool lists all the activities that need to be done in DATE order?
TIMELINES
Timelines provide a ……………… picture of what is happening and when
visual
Which tool breaks down all the tasks that must be performed?
WBS =
Work
Breakdown
Structure
WBS uses a ………….. hierarchical structure from top to bottom
vertical
All tasks are grouped together as …………….. of the WBS
branches
Which tool helps to PLAN and MONITOR the progress of projects? It also shows how long it will take to finish the project
Gantt chart
The ‘Gantt chart’ sequences the ….(a)… to be done. It indicates tasks that can be done at the …..(b)…. time. It also highlights what activities must be completed at a …(c)…. time. The ‘Gant chart’ identifies the ….(d)….. needed to get the job done
a) activities
b) same
c) certain
d) resources
(look at example on pg 50)
The ‘CPA’ - Critical path analysis is used for …(a)… projects. It is useful for calculating the ….(b)… amount of time needed for each task.
It calculates the maximum time for each task to be completed.
It identifies tasks that can be …(c)..
a) large
b) least
c) delayed
(look at example on pg 51)
Choose the correct word:
The (business/action) plan is also used to convince other people of how profitable your business i, especially when applying for a loan or looking for investors.
business
Choose the correct word:
Each bar in a Gantt chart represents a (subtask/timeline) that must be completed as part of the main task.
subtask
Choose the correct word:
A timeline appears (horizontally/vertically) and a WBS appears (horizontally/vertically)
horizontally;
vertically
Choose the correct word:
A (timeline/Gantt chart/WBS) lists all the activities that must be done on a straight line, in date order.
timeline
Choose the correct word:
A (timeline/Gantt chart/WBS) is a bar graph that shows the start and end dates of various tasks within a project.
Gantt chart
What are the FOUR steps of an ACTION PLAN?
1) Agree on objectives
2) Set realistic timeframes
3) Allocate responsibilities
4) Establish lines of communication
What are dependent tasks?
Tasks that cannot be started UNTIL certain other tasks have been completed
Look on pg 52 and do no 5 (match the labels to the numbers in the WBS)
Answer is on pg 163
Look on pg 52 and complete the MIND MAP SUMMARY
Answers is on pg 163
