BUSM 4100 FInal - Project Management

In selecting the best activity to crash you would first select the activity with the

Least steep slope

Nancy tells her supervisor that as of right now, $1.05 worth of work has been accomplished for each $1 worth of scheduled work. Nancy got this information from viewing the

SPI

Project success or failure often is reliant upon the contributions of all of the following groups of stakeholders EXCEPT

- Customers - Suppliers - Contractors - Competitors. - Top management

Which of the following is NOT a wrap-up closure activity that might be found on a checklist?

- Getting delivery acceptance from the customer - Reassigning project team members - Closing accounts and seeing all bills are paid - Evaluation of team performance Creating a final report

All of the following are types of resource constraints EXCEPT

- Materials - People - Equipment - Information. - Human

Which of the following is NOT considered a project indirect cost

- Supervision - Consultants - Equipment. - Interest - The project managers salary

Identify four wrap-up activities that are included in the closure process.

1. Getting delivery acceptance from the customer 2. Shutting down resources and releasing to new uses 3. Reassigning project team members 4. Closing accounts and seeing all bills are paid 5. Delivering the project to the customer 6. Creating the final report.

Give two advantages gained when a project manager takes the time to map relationship dependencies.

1. Improved Communication and Collaboration. Advantage: By mapping relationship dependancies, a project manager gains a comprehensive understanding of how different tasks, activities, and team members are interrelated. This knowledge facilitates improved communication and collaboration amount team members and stake holders. 2. Risk Identification and Mitigation Advantage: Mapping relationship dependencies helps in identifying potential risks and dependencies that may impact the project timeline or objectives. This proactive approach allows the project manager to implement mitigation strategies before issues arise.

What are disadvantages of resource levelling or smoothing

1. Loss of flexibility 2. Increased risk of project delay 3. More critical or near critical activities

What are 3 types of project constraints

1. Technical (logic) 2. Resource 3. Physical Limitations

Why is a schedule not a schedule until resources have been assigned? Provide a real life example that illustrates your explanation.

Assigning resources to a schedule is crucial because it reflects the practical constraints and limitations of the project. A schedule outlines the planned timeline for project activities, but without considering the availability and capabilities of the resources required to execute those activities, the schedule may not be realistic or achievable Ex: Construction project - schedule might outline the phases of building a structure. - resource management states when tasks like foundation pouring or framing should occur. - When resources are assigned, it accounts for the availability of skilled labor, equipment, and materials

Physical Limitations Constraints

Based on space or environmental limits

The most common circumstance for project closure is simply a ________ project.

Completed

Because of circumstances beyond the control of the project team, many projects are easy for a review group to close down. This type of project closure is called

Failed project

What is the difference between functional conflict and dysfunctional conflict on a project? Provide real examples of each

Functional Conflict: refers to a type of conflict in a project that, despite involving disagreements or differences of opinion, contributes positively to the project's goals and outcomes. It can stimulate creativity, encourage diverse perspectives, and lead to constructive solutions. Functional conflict is typically task-oriented and focused on achieving the project objectives. Dysfunctional Conflict: Dysfunctional conflict, on the other hand, is a type of conflict that hinders the progress of a project and has negative implications for team dynamics. It often involves personal or emotional issues, communication breakdowns, or power struggles that distract from the project's objectives. Dysfunctional conflict can lead to reduced team morale, decreased productivity, and an unhealthy work environment.

In regard to a network of stakeholders there are three "rings" or "tiers." Describe each ring and give an example of a group of stakeholders found in each.

Inner Ring- Core stakeholders D: there is the core group of specialists assigned to complete the project or the project team. Ex: In a software development project, the core stakeholders could include the project sponsor, key executives from the client organization, and senior members of the development team. These individuals play a crucial role in shaping the project's direction, providing resources, and making key decisions. Middle Ring - Intermediate Stakeholders D: there are the groups of people within the performing organization who are either directly or indirectly involved with the project. These include other project managers, functional managers, administrative support, top management and project sponsors Ex: n the same software development project, intermediate stakeholders could include department managers from the client organization, team leads from various functional areas (e.g., testing, quality assurance), and project managers from collaborating teams. While they may not be making high-level decisions, they are affected by project outcomes and contribute to specific aspects of the project. Outer Ring - External Stakeholders D: s outside the organization such as contractors, government agencies and the customer. Ex: External stakeholders could include end-users or customers of the software, regulatory bodies overseeing compliance, and vendors providing external services or components. While these stakeholders may not participate actively in project activities, the success of the project can significantly affect their interests.

What is commonly associated with high-performing project teams

Mistakes are viewed as opportunities for learning

During which stage of team development do close relationships develop and the group demonstrates cohesiveness

Norming

When the project may be completed early with some parts of the project eliminated this is considered to be ___________ closure.

Premature

Loss of flexibility

Resource leveling can reduce the flexibility of the project schedule. Changes in task dependencies or resource availability may lead to a cascading effect, requiring adjustments and limiting the adaptability of the project plan.

Increased risk of project delay

Resource leveling may extend the project duration as it aims to balance resource demand over time. This elongation occurs when activities are delayed to resolve resource conflicts, potentially missing initial project deadlines.

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

Resource-constrained scheduling

The first step in the project control process for measuring and evaluating project performance is to

Set a baseline plan

Resource Project constraints

The absence of required people, materials, equipment, or working capital. Adding more resources like time and money.

Jessica just received the following information on her project: PV = 200, EV = 300, AC = 250, BAC = 1500, EAC = 1208. In terms of cost at completion.

The project will currently finish under budget

Technical (logic) constraints

The sequence that activates must be performed.

How would you calculate an activities slope and what does it represent?

The slope of an activity in a project network represents its sensitivity to changes in duration. It is also known as the "total float" or "slack" of an activity. The slope indicates how much an activity's duration can be extended without delaying the project's completion date. An activity's slope is the cost per unit of time to reduce its duration. It is calculated by dividing the rise by the run.

Why should a project manager be cautious when adding resources to reduce project duration

There are limits as to how much speed can be gained by adding staff. Doubling the size of the workforce will not necessarily reduce completion time by half. Additional workers increase the communication requirements to coordinate efforts.

Managing a project and leading a project are two different things. Project leadership is about coping with

change

More critical or near critical activities

refer to tasks in a project schedule that have some flexibility but are close to becoming critical, meaning they have the potential to impact the overall project timeline. When implementing resource leveling or smoothing, certain near-critical activities may be particularly susceptible to disadvantages.