TERM 2 Topic 2.3 Transformation of a business plan into an action plan

Question 1

Provide the term of the following:

A detailed description of a proposed or existing business

Answer 1

Business plan

Question 2

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

Answer 2

Project management

Question 3

Name the NINE steps of a
B U S I N E S S P L A N

Answer 3

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

Question 4

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

Answer 4

action plan

Question 5

Name 4 characteristics of a GOOD PROJECT MANAGER

Answer 5

• allocates lots of time for meetings
• break down activities into smaller activities
• allocate money to each activity
• identify risks and plans

Question 6

4 STEPS of an Action Plan

Answer 6

1) Agree on OBJECTIVES
2) Set realistic TIME frames
3) Allocate RESPONSIBILITIES
4) Establish lines of COMMUNICATION

Question 7

What are the ADVANTAGES of an ACTION PLAN?

Answer 7

> 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

Question 8

Which questions would you ask to put an action plan in place?

(CONTROL questions)

Answer 8

• WHAT must happen?
• WHO is responsible?
• WHEN must it START?
• When will the activity END?
• What happened during an activity

Question 9

PROJECT MANAGEMENT TOOLS:

Name the tools

Answer 9

Timelines
# WBS (Work breakdown structure)
# Task analysis
# Gantt charts
# Critical path analysis

Question 10

Task analysis should be done ……… any other tool is introduced

Answer 10

before

Question 11

…………………… tasks can be done at the same time as other tasks

Answer 11

parallel

Question 11

Task analysis …………………. different tasks

Answer 11

evaluates

Question 11

Dependent tasks cannot….(a)… until other tasks are ………..(b)………………

Answer 11

a) begin
b) complete

Question 11

With this tool, you can plot an entire action plan on one line. What tool is this?

Answer 11

Timelines

Question 12

Which tool lists all the activities that need to be done in DATE order?

Answer 12

TIMELINES

Question 13

Timelines provide a ……………… picture of what is happening and when

Answer 13

visual

Question 14

Which tool breaks down all the tasks that must be performed?

Answer 14

WBS =
Work
Breakdown
Structure

Question 15

WBS uses a ………….. hierarchical structure from top to bottom

Answer 15

vertical

Question 16

All tasks are grouped together as …………….. of the WBS

Answer 16

branches

Question 17

Which tool helps to PLAN and MONITOR the progress of projects? It also shows how long it will take to finish the project

Answer 17

Gantt chart

Question 18

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

Answer 18

a) activities
b) same
c) certain
d) resources

(look at example on pg 50)

Question 19

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)..

Answer 19

a) large
b) least
c) delayed

(look at example on pg 51)

Question 20

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.

Answer 20

business

Question 21

Choose the correct word:

Each bar in a Gantt chart represents a (subtask/timeline) that must be completed as part of the main task.

Answer 21

subtask

Question 22

Choose the correct word:

A timeline appears (horizontally/vertically) and a WBS appears (horizontally/vertically)

Answer 22

horizontally;
vertically

Question 23

Choose the correct word:

A (timeline/Gantt chart/WBS) lists all the activities that must be done on a straight line, in date order.

Answer 23

timeline

Question 24

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.

Answer 24

Gantt chart

Question 25

What are the FOUR steps of an ACTION PLAN?

Answer 25

1) Agree on objectives
2) Set realistic timeframes
3) Allocate responsibilities
4) Establish lines of communication

Question 26

What are dependent tasks?

Answer 26

Tasks that cannot be started UNTIL certain other tasks have been completed

Question 27

Look on pg 52 and do no 5 (match the labels to the numbers in the WBS)

Answer 27

Answer is on pg 163

Question 28

Look on pg 52 and complete the MIND MAP SUMMARY

Answer 28

Answers is on pg 163