Lecture 4 (project management)
What is the major assumption when determining the cost per unit of time to expedite each activity.
-A linear relationship between time and cost
Network planning models
-A project is made up of a sequence of activities that form a network representing a project -Critical path: the path that takes the longest time through this network of activities -Critical path provides a wide range of scheduling information useful in managing a project -Critical path method(CPM): helps to identify the critical path in the project networks -Why is this the longest time? Because shortening a path that does not control the entire project time yields no benefits
Which of the following are advantages of the functional project organizational structure?
-A team member can work on several projects. -Technical expertise is maintained within the functional area. -Functional-area experts creates synergistic solutions to technical problems. -The functional area is a home after the project is completed.
Earned value management (EVM)
-A technique for measuring project process in an objective manner -Has the ability to combine measurements of scope, schedule, and cost in a project -Provides a method for evaluating the relative success of a project in a point in time
What are the essential features of any earned value management (EVM) system?
-A valuation of each activity work. In the case of a project that generates revenue. -Predefined earning or costing rules to quantify the accomplishment of work. -A project plan that identifies the activities to be accomplished.
At what point in the project planning process is the organizational structure of the project decided?
-Before the project begins
Which of the following is not a step in CPM?
-Calculate the shortest path
A schedule that lists all activities by their early start times is a(n)
-Early start schedule
Which technique combines measures of scope, schedule and cost for evaluating project progress?
-Earned value management
A benefit of a pure project is that you share equipment and people across projects.
-False
True or false: It is not possible to have a process change project that accommodates a large amount of change.
-False
Critical path method (CPM)
-Identify each activity to be done and estimate how long it will take -Determine the critical path -Determine the required sequence and construct a network diagram -Determine the early start/finish and late start/finish schedule
How many immediate predecessors does an activity have?
-It depends
Which of the following are disadvantages of the matrix form of project organization?
-It is doomed to failure unless the project manager has strong negotiating skills. -There are two bosses. -Suboptimization is a danger.
A project has how many critical paths?
-It is possible to have multiple critical paths.
Which of the following is not a form of a matrix project?
-Major
Which project organizational structure minimizes the duplication of resources?
-Matrix
A project _____ is a specific event in a project.
-Milestone
Which of the following are disadvantages of the functional project organizational structure?
-Needs of the client are secondary and are responded to slowly. -Motivation of team members is often weak. -Aspects of the project unrelated to the functional area get shortchanged.
All of the following are types of project organizational structures except
-Process
Which of the following is not a major development project category?
-Product development
Which of the following can be part of a statement of work?
-Proposed schedule -Work to be done -Objectives to be achieved -Performance measures
A project where all members of the team work on the project full time is an example of which project organizational structure?
-Pure
Three types of project structure
-Pure project: A self-contained team works full time on the project -Functional project: Responsibility for the project lies within each functional area of the firm. Employees from that area work on the project, usually only part-time -Matrix project: A blend of pure and functional projects. People from different functional areas work on the project, possibly only part time
For some activities in a project there may be some leeway in when an activity can start and finish. This is called the
-Slack time
Completion of one or more subtasks results in the completion of a _____
-Task
The completion of all ________ is required to complete the project.
-Tasks
Which of the following are advantages of a pure project?
-Team members report to one boss. -Lines of communication are shortened. -The project manager has full authority over the project. -Team pride, motivation, and commitment are high.
Which of the following are disadvantages for pure projects
-The organization falls behind in its knowledge of new technology. -Organizational goals and policies are ignored. -Team members worry about their job once the project is over. -Duplication of resources.
The extension of the critical path model that considers trade-offs between activity times and costs is often referred to as
-Time cost models
True or false: A firm should have a mix of projects that best supports it's strategy.
-True
In a project, which of the following has the shortest duration?
-Work package
When a project is housed within a functional division, such as manufacturing, it is called a ________ project.
-functional
Crashing creates a Blank______ project that costs Blank______.
-shorter, more
Top management planning and execution
Planning: -Goal setting, project definition, and team organization Execution: -Scheduling ---relating people, money, and supplies to activities) ----then relating activities to one another -Controlling ----Monitoring resources, costs, quality, and budgets
If a delay of one activity delays the entire project, then this activity
is on the critical path.
Structuring projects: Matrix
Advantages: -Improved communication btwn functional divisions -Project manager is responsible for success/failure -Duplication of resources is minimized - Team members remain in functional home after project completion Disadvantages: -Two bosses, often the functional manager takes precedence over the project manager(who has the $$$$$) -Project failure risk is high if the project manager cant negociate across functional zones
Structuring projects: Functional
Advantages: -Team members can work on several projects -Technical expertise is maintained within the functional area even if individual team members leave the project -Functional area is a home after the project completion Disadvantages: -Aspects of the project that are not directly related to the functional area get lost or ignored -Motivation of the team members can be weak -Needs of the client are secondary and often handled slowly
Structuring projects: Pure
Advantages: -The project manager has full authority -Team members report to one boss -Shortened communication lines -Team pride, motivation, and commitment are high Disadvantages: -Duplication of resources -Organizational goals and policies are ignored -Lack of technology transfer -Team members have no functional area "home"
Project and project management
Project: -A series of related activities directed toward some major output and requiring a significant period time to perform Project management: -The planning, scheduling and controlling of resources (labor, equipment, material) to meet the technical, cost, and time constraints of a project -Most firms of significant size are juggling dozens, if not hundreds, of products
Defining the project
Statement of work: A written description of the objectives that need to be achieved Task: A further subdivision of a project, usually shorter than several months and performed by a single group or organization Work package: A group of activities combined to be assignable to a single organizational unit (activities=pieces of work that consume time) Project milestone: Specific events in the life of the project Work break down structure: Defines the hierarchy of project tasks, subtasks, and work packages Activities: pieces of work that consume time
