Application Learning Assignment - Project Management Software

Three advantages of building a Gantt chart are: A Gantt chart provides a visual display of concurrent processes A Gantt chart provides a framework to develop PERT Unlike a flowchart, a Gantt chart shows estimated timelines A Gantt chart highlights decision points in a project.

A Gantt chart provides a visual display of concurrent processes A Gantt chart provides a framework to develop PERT Unlike a flowchart, a Gantt chart shows estimated timelines

Oval

Beginning or ending point (terminator)

The real value of a Monte ____ simulation is that it displays to the client and to the project planner the degree of uncertainty that is involved with any project.

Carlo

Diamond

Decision point

Arrow

Directional progress (flow)

Select three true statements regarding earned value management (EVM). Earned value multiplies the percentage of completion of each activity on the PERT network chart by the total value of the completed activity. Earned value management (EVM) tracks what is called the project "triangle" of scope, time, and costs. EVM was originally called PERT/COST because it enters cost data into the PERT network chart to evaluate a project's efficacy. EVM can be conducted with relatively simple software such as the templates provided with Microsoft Excel.

Earned value multiplies the percentage of completion of each activity on the PERT network chart by the total value of the completed activity. Earned value management (EVM) tracks what is called the project "triangle" of scope, time, and costs. EVM was originally called PERT/COST because it enters cost data into the PERT network chart to evaluate a project's efficacy.

Activities can be accomplished independently of each other, but both must be completed in order for the project to be completed.

FF

One activity must be accomplished before the dependent activity can be started.

FS

A horizontal bar chart commonly used by PMs that shows project activities on the Y-axis and time on the X-axis is called a ___.

Gantt chart

Select the true statement regarding a Gantt chart. A Gantt chart displays a critical path for project completion. A Gantt chart uses ovals to depict the start and finish point of a project. Gantt charts are primarily designed for internal stakeholders rather than external stakeholders. A process is displayed using a rectangle in a Gantt chart.

Gantt charts are primarily designed for internal stakeholders rather than external stakeholders.

Select 2 programs that can be used to construct relatively simple Gantt charts. Microsoft Excel Microsoft Word Apple Pages Apple Numbers

Microsoft Excel Apple Numbers

Because it is more responsible for PMs to tell clients the likelihood of a project's completion on a certain date than to simply state when the project will be completed, some PMs use a ___.

Monte Carlo simulation

By displaying activities with slack, a ___ allows project managers to direct resources to more critical activities, speeding the completion of the entire project.

PERT

Allowing managers to direct resources from activities that are not on this critical path and apply them to more critical processes is an advantage of .

PERT Chart

One reason to create a Gantt chart is that it provides the framework for the development of a ___.

PERT network chart

Rectangle

Process or step

Focuses on completing the project correctly

Project manager

Ensures that the client understands the project cost and timeline

Project planner

Ensures that the firm only accepts the right projects

Project portfolio manager

As with all goals, projects should meet the S.M.A.R.T. criteria; that is, the project must have a specific objective (S), progress must be measurable (M), as well as which 3 of the following? Realistic (R) Active (A) Time-based Attainable (A)

Realistic (R) Time-based Attainable (A)

One activity is not considered complete until the next task has been started.

SF

One activity cannot begin until another has begun

SS

Select the three correct statements regarding PERT and the critical path method. The PERT network chart displays the project activities, accounts for their interconnectivity and dependencies (relationships), and estimated start and completion dates. PERT network charts can provide realistic project timelines, but their complexity makes them difficult for most stakeholders to visualize. PERT network charts can quickly become exceedingly complex, especially for large projects involving hundreds or even thousands of activities. Once created the critical path method is rigid by design, allowing program managers to develop stable timelines.

The PERT network chart displays the project activities, accounts for their interconnectivity and dependencies (relationships), and estimated start and completion dates. PERT network charts can provide realistic project timelines, but their complexity makes them difficult for most stakeholders to visualize. PERT network charts can quickly become exceedingly complex, especially for large projects involving hundreds or even thousands of activities.

Select the reasons why project planners use project portfolio management (PPM) software. To ensure the project meets construction standards and state code. To reduce the likelihood of overworking staff and disappointing clients. To avoid the tendency to accept more projects than might be reasonable. To minimize the possibility of project delays due to equipment or worker overscheduling.

To reduce the likelihood of overworking staff and disappointing clients. To avoid the tendency to accept more projects than might be reasonable. To minimize the possibility of project delays due to equipment or worker overscheduling.

Select the true statements regarding the Monte Carlo simulation technique. The Monte Carlo simulation technique provides accurate risk assessments even if a project manager inputs erroneous data. When using a Monte Carlo simulation to estimate a project's timeline, optimistic (O), pessimistic (P), and expected or most likely (E or M) values from each activity are taken from the PERT network chart and placed in the simulation program. The Monte Carlo method was developed by the Polish-American mathematician and physicist Stanislaw Ulam. The Monte Carlo simulation provides outcome probabilities based on PM inputs.

When using a Monte Carlo simulation to estimate a project's timeline, optimistic (O), pessimistic (P), and expected or most likely (E or M) values from each activity are taken from the PERT network chart and placed in the simulation program. The Monte Carlo method was developed by the Polish-American mathematician and physicist Stanislaw Ulam. The Monte Carlo simulation provides outcome probabilities based on PM inputs.

One of the keys to success in any project is highly transparent ____ throughout each of the phases among all the parties involved.

communication

Because of the need to keep all stakeholders informed of a project's status, a ___ is an important aspect of project management and support systems are included in nearly all PM software.

communications plan

Once a program manager has developed a PERT network chart and determined the critical path for project completion (the critical path method (CPM)), the project manager will attempt to create efficiencies by addressing those activities along the critical path and focusing on how to make methods of making them as short as possible. This is referred to as project _____

crashing

By connecting each activity according to its dependencies in a PERT network chart, the program manager can establish a ____ path of project completion.

critical

The PERT describes the ___ of each project activity in terms of optimistic or best-case scenario (O), pessimistic (P), and expected or most likely (E or M).

duration

Tracking project progress and controlling costs remains a critical role for every project manager. To assist the PM in this evaluation the project manager body of knowledge (PMBOK) guide recommends using _____ value management (EVM)

earned

Every project needs a project manager to oversee a projects 4 phases of initiation, planning, _____, and closure

execution

One challenge that often faces project managers is managing the ___ of the client and other stakeholders.

expectations

If a task falls outside of the program manager's immediate control it is referred to as a(n) ___ dependency.

external

If your spouse needs to approve the grocery list (task A), before you can begin shopping(task B), task B has a(n) __ dependency on task A. This assumes you have no control over your spouse.

external

A ___ can serve as a building block to more sophisticated program management tools and help all stakeholders to better understand the intermediate steps required to complete a project.

flowchart

Because projects are comprised of four distinct phases (initiation, planning, execution, and closure) and because each phase has multiple steps that can be conducted in series, (one after the other), or in parallel (at the same time), using a _____ to visualize the overall process can be extremely beneficial in the overall process.

flowchart

Because they allow stakeholders a simple visualization of an entire project, a ___ is a commonly used tool of project managers.

flowchart

Being able to drag and drop shapes and lines quickly and easily greatly simplifies the ____ creation process

flowchart

Because they can alert all stakeholders to decision points, ____ are commonly used, simple visualization tools for program managers.

flowcharts

By allowing viewers to see the project's progress, project managers can reduce the anxiety caused by apparent inaction. For this reason, PMs often provide simple ___.

flowcharts

An important part of the planning phase of the project management process is the completion of the ___ chart

gantt

An important part of the planning phase of the project management process is the completion of the ____ chart.

gantt

Because some tasks in a project can be done concurrently while other tasks are dependent upon the completion of preceding tasks, the most widely used tool in project management is a horizontal bar chart known as the ___ chart

gantt

Select the three phases of a project typically managed by a project planner. initiation execution planning closure

initiation planning closure

In addition to the main four relationships, project managers also categorize relationships according to whether they are internally or externally dependent. With an ____ dependency, the project manager has a degree of control over the tasks.

internal

The PMBOK identifies six processes that project managers can use to assess risks. PMBOK stands for project management body of

knowledge

Adjusting task completion to maximize the use of limited resources is referred to as resource _____.

leveling

Project risk management remains an underdeveloped science. Often subject to the biases and prior experiences of the project manager, project risk ___ remains an underdeveloped science.

management

As each project activity is started or completed, the PERT network chart updates the critical path. The critical path estimates the project completion time. This process is called the critical path _____ (CPM).

method

The final step in the ___ phase involves scheduling a meeting with project stakeholders and allowing these key players to review the Gantt chart or project timeline.

planning

If required, a PERT network chart would be developed in the ____ phase of a project.

planning, second, or 2nd

If a client has a concept in mind, the ____ manager must ensure the feasibility of the concept, provide for flexibility with the outcome, and manage the expectations of the client and all stakeholders.

project

By reducing the duration of the most demanding activities on the critical path, the PM can expedite the entire project. This is referred to as ___.

project crashing

Focusing on project scheduling and sequencing to optimize the progress of all of the projects in a firm's portfolio is the role of a ___.

project planner

On the flowchart, a process is depicted by a

rectangle

Regardless of the project, every project manager faces physical limitations such as the number of available employees or the amount of available equipment, or constraints due to the physical environment. To mitigate these limitations, project managers use software that provides ___ .

resource leveling

Some project activities on the critical path can be allocated few resources or lower priority because they will include slack time. This is an advantage of using PERT and a critical path __ .

schedule

Most ____ programs, such as Microsoft Excel and Apple Numbers, provide templates for constructing Gantt charts.

spreadsheet

A major problem with the program evaluation and review technique (PERT), its critical path method (CPM), and the associated earned value management (EVM) methodologies is that they ___ .

underestimate risks