IEM 3403 exam 3

1. Expensive to maintain (time and labor) 2. Used primarily on large, complex projects 3. Reduced decision-making authority by upper management 4. Too much detail than is necessary for a project

4 disadvantages of PERT charts

- lowering overall project costs -improving morale - reducing absenteeism & promoting accountability -lowering rework/scrap factors

4 primary objectives of the WBS:

1. GANTT Charts 2. Milestone Charts 3. Line Balancing 4. Networks

4 techniques to control complex projects & improve the overall performance of the project:

PERT (Program Evaluation & Review Technique) CPM (Critical Path Method) PDM (Precedence Diagram Method) GERT (Graphical Evaluation & Review Technique

4 types of networks

1. Time estimates (PERT uses 3, CPM uses 1) 2. Probabilistic (PERT) vs Deterministic (CPM) 3. One used in R&D, other in construction 4. PERT is used in projects where percent completion is difficult to asses. CPM is used where percent completion is easily identifiable 5. Both allow the use of "dummy" activities

5 differences between PERT and CPM

A. Resource reduction

Which of the following is not a commonly used technique for schedule compression? A. Resource reduction B. Reducing Scope C. Fast-tracking activities D. Use of overtime

B. Dummy activities

Activities with no time duration are called: A. Reserve activities B. Dummy activities C. Zero slack activities D. Supervision activities

C. Dummy activities

Activities with zero time duration are called: A. Low-slack activities B. No-slack activities C. Dummy activities D. Special activities

Advantage: finish early Disadvantage: increase cost

Advantage and disadvantages to crashing a project

B. 8

An activity in a network has the following characteristics: ES = 10, EF = 18, and LS = 12. The activity duration is: A. 6 B. 8 C. 10 D. Cannot be determined

B. 8

An activity in a network has the following characteristics: ES = 5, EF = 9, and LF = 12. LS = _______. A. 5 B. 8 C. 9 D. 12

They can be. However presented/included they need to be separately identified.

Are plans and specifications part of the SOW?

1. A selection must be made as to whether the events represent the start or the completion of the activity 2. Next, define the sequence of events

2 basic steps for constructing a network:

Plant capabilities, quality (imposed on vendors), materials requirements planning, etc.

A MPS (master production schedule) should consider what other characteristics?

C. Finish-to-start

A PERT network reflects what type of precedence diagram? A. Start-to-start B. Start-to-finish C. Finish-to-start D. Finish-to-finish

B. GERT

A network-based technique that allows for branching and looping is: A. PERT B. GERT C. PDM D. ADM

C. Subject matter experts

A project manager desires a work breakdown structure that goes through six levels of detail. Level 3 through level 6 would most likely be prepared by the: A. Project sponsor B. Project manager C. Subject matter experts D. Customer

D. What the project manager plans on doing but not necessarily what the customer has asked for

Baselines, once established, identify: A. What the customer and contractor agree to B. What the sponsor and customer agree to C. What the customer wants done but not necessarily what the project manager plans to do D. What the project manager plans on doing but not necessarily what the customer has asked for

C .$60K

Consider the WBS shown below: 1.00.00 1.1.0 1.1.1 1.1.2 1.2.0 1.2.1 1.2.2 If the total program costs $100,000 and 1.2.1 and 1.2.2 are each $20K, then the cost of 1.1.0 is: A. $20K B. $40K C. $60K D. Cannot be determined

the work that must be completed to achieve the final scope of the project, namely the products, services, and results

Define project scope

A. True

During competitive bidding, a contractor can submit inclusions and exclusions to the customer's preliminary statement of work A. True B. False

D. Let the sponsor make the decision on what to do

During the execution of a project, the customer asks you to perform additional tests, which the customer will pay for. Unfortunately, there are no resources available to perform the additional tests. The project manager should: A. Refuse to perform the tests B. Determine when the tests can be done and then inform the customer C. Tell the customer that the company policy is that the additional tests must be treated as an enhancement project and funded separately after this project is over D. Let the sponsor make the decision on what to do

-start date -completion date -phase out - distribution of project funds

Examples of project milestones

D. The work package

Generally speaking, the lowest level in the WBS is referred to as: A. Level 3 B. Level 4 C. Level 5 D. The work package

A. True

Generally speaking, work packages are assigned to one functional unit.

st. dev = (b-a)/6 b = most pessimistic end point a = most optimistic end point

How to calculate the standard deviation of expected time?

A. Activities not on the critical path will have additional slack

If an activity on the critical path takes longer than anticipated, then: A. Activities not on the critical path will have additional slack B. Activities not on the critical path will have less slack C. Additional critical path activities will appear D. None of the above

1. Clarification of dates and events 2. Proper sequencing....needs to show interrelations between events 3. Related to WBS 4. Time constraints and resources identified

In preparing schedules the following should be considered:

C. Performing series work in parallel

In which of the following schedule compression techniques is the cost of rework usually the greatest? A. Overtime B. Crashing C. Performing series work in parallel D. Outsourcing

B. Resource allocation or resource limited planning

Laying out a network diagram when you know before-hand the size of the available resource pool is called: A. Resource leveling B. Resource allocation or resource limited planning C. Better effort planning D. Slack utilization planning

1. Planning involved to create a major network 2. Determining probability of meeting specified deadlines 3. Evaluating the effects of "creeping scope" and changes in the program 4. PERT charts can display large amounts of data

Name 4 advantages of PERT charts

A. The forward pass going beyond the customer's end date and the backward pass is measured from the customer's end date

Negative slack is the result of: A. The forward pass going beyond the customer's end date and the backward pass is measured from the customer's end date B. Non-critical-path activity using up all of their slack C. The critical path can be completed before the customer's desired end date D. All of the above

the ability to show interdependencies between events and activities

Networks are known for what ability?

1. objective 2. program 3. schedule 4. budget 5. forecast 6. organization 7. policy 8. procedure 9.standard Remember it this way: One poor school boy found out Principal Powers sucked.

Nine major components of the planning phase

1. Prior understanding, much of work can be preplanned 2. If not understood, then changes in resource allocation, schedules, and priorities will happen when the task is executed 3. More uncertainty = more information processed = effective performance

One of the major objectives of planning is to completely define all work required. Why? (3 reasons)

B. Poorly defined statement of work

One of the most common reasons why projects undergo scope changes is: A. Poor work breakdown structure B. Poorly defined statement of work C. Lack of resources D. Lack of funding

B. Ask the contractor to put forth a change request

One of your contractors sends you an e-mail request to use high quality raw materials in your project stating that this will be value-added and improve quality. What should the project manager do first? A. Change the scope baseline B. Ask the contractor to put forth a change request C. Ask your sponsor for hi or her opinion D. Change the WBS

A. PERT

Optimistic, pessimistic, and most likely times are associated with: A. PERT B. GERT C. PDM D. ADM

time, resource leveling

PERT charts determine how much _______ is needed to complete a project, and also assist with ________ __________

D. Subsidiary plans

Plans such as cost plan, schedule plan, and quality plan are referred to as: A. Integration plan B. Specialized plans C. Functional plans D. Subsidiary plans

1. Projects cutting across the functional areas of the company 2. Responsibility over allocation/expenditures of funds 3. Project planning 4. Conflict Resolution 5. Problem solving

Project Managers need authority and the ability to delegate tasks because of: (5 things)

B. The scope statement

Project managers often rewrite the customer's SOW into a document that the project team can easily understand. The document is called: A. the redefined SOW B. The scope statement C. The deliverable statement D. The finalized SOW statement

1. Systematic - such that anyone can step in and run the project 2. flexible- enough to handle unique activities 3. disciplined - through reviews and controls 4. capable of handling multi-functional inputs

Project planning must be: ( 4 things)

B. False

Project sponsors within the contractor's company have the authority to change the scope of an external customer's project as they see fit

1. to eliminate or reduce uncertainty 2. to improve efficiency of the operation 3. to obtain a better understanding of the objectives 4. to provide a basis for monitoring and controlling

Reasons for project planning (4)

B. Manpower leveling

Reducing the peaks and valleys in manpower assignments in order to obtain a relatively smooth manpower curve is called: A. Manpower allocation B. Manpower leveling C. Resource allocation D. Resource commitment planning

The summation of all deliverables required as part of the project. This includes all products, services, and results

Scope

B. A poorly defined SOW

Scope creep is generally the result of: A. Having too many levels in the WBS B. A poorly defined SOW C. Too much detail in the specifications D. Having the wrong people assigned to the project

A. Scope baseline

The change control board, of which you are a member, approves a significant scope change. The first document that the project manager should update would be the: A. Scope baseline B. Schedule C. WBS D. Budget

B. False

The critical path is the path in the network with the greatest amount of risk. T/F

A. Project charter

The document that officially sanctions the project is the: A. Project charter B. Project plan C. Feasibility study D. Cost-benefit analysis

A. Listing of activities

The first step in the development of a schedule is a: A. Listing of the activities B. Determination of dependencies C. Calculation of effort D. Calculation of durations

B. Do not show dependencies between activities

The major disadvantage of using a bar chart on large projects is that bar charts: A. Cannot identify critical paths B. Do not show dependencies between activities C. Cannot identify milestones D. Cannot show slack

B. Costs, schedule, and scope baselines

The performance measurement baseline is most often composed of three baselines: A. cost, schedule, and risk baselines B. costs, schedule, and scope baselines C. cost, risk, and quality baselines D. Schedule, risk, and quality baselines

B. Project manager

The person with the ultimate responsibility to make sure that all work required by the SOW and only the work required by the SOW is performed is the: A. Customer B. Project Manager C. Appropriate subject matter expert for that work package D. Project Sponsor

B. Critical path

The shortest time necessary to complete all of the activities in a network is called the : A. Activity duration length B. Critical path C. Maximum slack path D. Compression path

B. Work packages

The work breakdown structure "control points" for the management of a project are the: A. Milestones B. Work packages C. Activities D. Constraints

-technical information -part/equipment specifications -schematics -drawings -contract

What are included in a set of plans and specifications?

customer still wants the project to finish on the baseline finish date. fast-tracking means to stack tasks including the critical path, which ultimately means adding resources and increasing costs

What are problems associated with fast-tracking?

1. customer changes scope 2. unexpected task that has to be done 3. Poor planning

What causes projects to fast-track?

other factors outside of the project

What is an external dependency?

PM's authority comes from upper management PM's power comes from subordinates seeing the PM as the project leader

What is the difference between power and authority?

an integral legal document identifying to the line managers and their personnel the project manager's authority and responsibility and the management and/or customer-approved scope of the project

What is the project charter?

D. The sponsor should not be involved in WBS development

What is the project sponsor's responsibility with regard to the WBS preparation? A. Make sure all work packages are well defined B. Make sure that the management levels of the WBS are correct C. Make sure that the technical levels of the WBS are correct D. The project manager should not be involved in WBS development

C. The effort in each activity

Which of the following cannot be determined after performing a forward pass and a backward pass on a network diagram? A. The critical path B. The end date of the project C. The effort in each activity D. The slack in each activity

D. How much overtime is scheduled

Which of the following cannot be identified after performing a forward and backward pass? A. Dummy activities B. Slack time C. Critical path activities D. How much overtime is scheduled

D. Network Diagrams

Which of the following documents is not defined in the text as one of the four critical documents for preliminary planning? A. SOW B. WBS C. Specifications D. Network Diagrams

C. Cost control

Which of the following generally cannot be validated using a work breakdown structure? A. Schedule control B. Cost control C. Quality control D. Risk management

D. All of the above

Which of the following is (are the benefit(s) of developing a WBS to low levels? A. Better estimation of costs B. Better control C. Less likely that something will "fall through the cracks" D. All of the above

D. PDM

Which of the following is an activity-on-node network diagramming method? A. PERT B. GERT C. ADM D. PDM

B. Which functional unit will perform the change

Which of the following is normally not addressed in a change control board meeting to approve a scope change? A. Cost of the change B. Which functional unit will perform the change C. Impact on the schedule D. Value-added opportunity for the client

C. VERT

Which of the following is not one of the four network diagramming techniques? A. PERT B. GERT C. VERT D. PDM

C. Internal

Which of the following is not one of the three types of dependencies? A. Mandatory B. Discretionary C. Internal D. External

B. Cost and size of contractual documentation

Which of the following is often overlooked when planning and budgeting a project? A. Customer's milestones B. Cost and size of contractual documentation C. Number of meetings with the customer D. Timing of the deliverables

C. The quality of the deliverables

Which of the following is usually not validated by using the WBS? A. The schedule B. The Risks C. The quality of the deliverables D. The budget

D. There should be only one WBS element covering the project manager's salary

Which of the following is usually preferred for the placement of the project manager with regard to the WBS? The project manager's salary should be: A. Divided up at each work package B. Divided up at each WBS element not lower than 3 of the WBS C. Divided up at each level 2 WBS element D. There should only be one WBS element covering the project manager's salary

B. GERT

Which of the following network diagramming methods allows for branching and looping? A. PERT B. GERT C. ADM D. PDM

D. PDM

Which of the following network diagramming methods do not use dummy activities? A. PERT B. GERT C. ADM D. PDM

B. Descoping

Which of the following schedule compression techniques is often the lowest risk and with the added benefit of lowering cost? A. Crashing B. Descoping C. Outsourcing D. Overtime

B. Crashing

Which of the following schedule compression techniques usually requires adding more resources to each work package that is being compressed? A. Overtime B. Crashing C. Outsourcing D. Descoping

D. Precedence charts

Which of the following scheduling techniques is most appropriate today for managing a project? A. BAR charts B. Milestone charts C. PERT charts D. Precedence charts

A. BAR charts

Which of the following scheduling techniques is most appropriate today for reporting project status to a customer during an interchange meeting? A. BAR charts B. Milestone charts C. PERT charts D. Precedence charts

primarily "top management" has responsibility but in most cases a committee provides a "preferred selection" for projects

Who has the responsibility of selecting projects?

it varies, most comon by the Contract Control & Administration office

Who normally issues a SWD (Subdivided Work Description)?

C. 8 weeks

You have an activity where the early start is week 6, the early finish is week 10, the latest start is week 14, and the latest finish is week 18. The slack in this activity is: A. 4 weeks B. 6 weeks C. 8 weeks D. 18 weeks

A. Resource leveling

Smoothing out project resources from period to period is called A. Resource leveling B. Resource allocation or resource limited planning C. Better effort planning D. Slack utilization planning

A. Do not show dependencies between activities

The major disadvantage of using bar charts to manage a project is that bar charts: A. Do not show dependencies between activities B. Are ineffective for projects under one year in length C. Are ineffective for projects under $1 million in size D. Do not identify start and end dates of a schedule

B. False

The measurement of lag is made within an activity whereas slack is measured between activities. T/F

Gantt chart

The milestone chart is typically part of what chart?

C. Finish-to-start

The most common "constraint" or relationship in a precedence network is: A. Start-to-start B. Start-to-finish C. Finish-to-start D. Finish-to-finish

releases funds so that scheduling, costs, budgets, and all other types of plans can be prepared prior to the release of operational cycle funds

What does work planning authorization do?

speeding up certain phases on a project

What is "crashing" a project?

A process used to select projects. Starts with 100 ideas, scrub down to 20, then to 2-3 top projects

What is "scrubbing and screening?"

The project manager structures work into small elements that are: - manageable, in that specific authority and responsibility can be assigned - independent, or with minimum interfacing with and dependence on other ongoing elements -integratable so that the total program package can bee seen - measurable in terms of progress

What is WBS?

A contract statement of work

What is a CSOW?

a short narrative description of the activities performed by the cost center. Allows work to be performed, amount of time to perform the activity, and the total number of hours available to complete the activity

What is a Subdivided Work Description?

soft logic - changes from project to project

What is a discretionary dependency?

a dependency that can't change ex. concrete must be poured before walls can be erected...lol

What is a mandatory dependency?

A diagram that shows dependencies between project tasks. Tasks are represented by boxes, or nodes, and task dependencies are represented by lines that connect the boxes

What is a pert chart?

A business case is a document that provides the reasoning why a project should be initiated. They should describe the boundaries, risks, specifications, economic justification, etc.

What is a project proposal/ business case?

A description of the end results (work activities and deliverables) to be provided under the contract.

What is a statement of work?

a production plan of how many units need to be made, when they need to be made, and any safety/bufferstock related to total demand

What is an MPS (Master Production Schedule)?

When forward slack extends beyond the customer's end date

What is negative slack?

Activities that are normally linked together in series are converted to parallel tasks allowing for the expedited execution of the project

What is project fast-tracking?

the shortest critical path based on limited available resources

What is resource allocation?

the smoothing of your resources from period-to-period without changing the due date

What is resource leveling?

The time differential between the scheduled completion date and the required date to meet critical path. Slack time = T(L) - T(E)

What is slack time?

-Event is the starting or ending point for a group of activities -Activity is the work required to move from one event to the next

What is the difference between Event/Activity and Summary Task/Subtask?

The project manager writes the proposal, assisted by project manager assistants

What is the most common way a proposal is prepared?

All of the tasks and objectives for the project are complete

What is the preferred reason to stop a project?

Lack of strategic direction from top management Incorrect Risk Assessment

What seems to be the central theme for why projects don't succeed?

SOW (statement of work)

What serves as a form of communication, legal document, and conflict resolution tool?

The release of planning SWD (subdivided work description)

What triggers the MPS (Master Production Schedule)?

4,5,6

Which levels of the WBS are generated by contractor for in-house control and managed by the functional manager(s)

1,2,3

Which levels of the WBS are usually specified by the client and managed by the project manager

PERT with CPM in it

Which network technique is the most popular?

C. ADM

Which of the following activity-on-arrow network diagramming methods does not require three estimates for durations? A. PERT B. GERT C. ADM D. PDM

C. It is the path that contains the greatest number of activities

Which of the following is false concerning the critical path in a network? A. It is the longest path in the network B. It is the shortest amount of time in which the project can be completed C. It is the path that contains the greatest number of activities D. It is the path where each activity has zero slack

A. Lower status reporting costs

Which of the following is not a benefit of having a highly detailed work breakdown structure? A. Lower status reporting costs B. Less likely that anything will be omitted C. Better estimating D. Better activity tracking

1. Mandatory dependencies 2. Discretionary dependencies 3. External dependencies

3 types of interrelationships

C. The customer is at fault for providing a statement of work that could be misinterpreted

A customer accepts a project, after go-ahead, the contractor discovers that the statement of work was ill-defined and pushed through scope changes that significantly alienate the customer. The customer pays for the scope changes and then files a law suit against the contractor to recover the cost of the scope changes. Neglecting the type of contract, the court will most likely rule that: A. The contractor is at fault for accepting a contract with ill-defined requirements and not discovering this initially B. The contractor is at fault for a misinterpretation of the wording in the statement of work C. The customer is at fault for providing a statement of work that could be misinterpreted D. The customer cannot recover the cost associated with the scope changes once the payment has been made.

D. Check with the line managers first to see if the cost and schedule can be reported at this level

A customer external to your company requests that a certain element of work be subdivided to lower-level work packages and that cost/schedule information be reported at the lower levels. You should: A. Grant the customer's request but bill the customer for the changes to the WBS B. Simply grant the customer's request C. Deny the request since the WBS is finalized and cannot change D. Check with the line manager to see if cost and schedule can be reported at this level

B. Perform the scope changes at the contractor's expense

A customer is unhappy with the performance thus far on a project. The customer states that, unless scope changes are made at the contractor's expense, the contractor would be removed from the customer's preferred bidders list for future contracts. The contractor would most likely: A. Refuse to perform the scope changes B. Perform the scope changes at the contractor's expense C. Perform the scope changes and then submit an invoice for payment to the customer D. Take no action and hope that the customer will forget about the scope change request

D. Not enough information is provided to make a determination

A network-based schedule has four paths, namely 7, 8, 9, and 10 weeks. If the 10-week path is compressed to 8 weeks, then: A. We now have two critical paths B. The 9-week plan is now the critical path C. Only the 7-week path has slack D. Not enough information is provided to make a determination

B. False

All work packages in a project must be at the same level of WBS. T/F

financial

From a _________ perspective closing out a project is one of the most critical steps in the project life cycle

longest amount (time path through network) = shortest amount of time to complete the project

CP (critical path) definition

-generally are discrete tasks that have known end products -typical duration: 60-80 hours

Characteristics of work packages (2)

1. Identifies associated costs for the change 2. Affect on quality 3. Cost/quality tradeoffs 4. Is the change needed 5. A mechanism for control not to replace design review and customer interface meetings 6. Establishes policies and procedures for the execution of changes

Configuration Management (CM) acts as a control mechanism to address the following issues (6):

activity schedules

Detailed schedules are primarily ____________ __________ used to determine how company resources are harmoniously integrated into the project

* make sure to indent descriptions Managerial tasks: Level description 1 Total program 2 Project 3 Task Technical Levels Level Description 4 Subtask 5 Work Package 6 Level of effort

Diagram of different indented levels in the WBS:

A. Continue on with your existing baseline until the customer confirms that the direction must change

During an interface meeting with your customer, the two of you have different interpretations of the raw data. If the customer's interpretation is correct, then the direction of the project should change. However, the customer states that they need more time to determine if their interpretation is correct. As the PM, you should: A. Continue on with your existing baseline until the customer confirms that the direction must change B. Change the direction of the project according to the customer's interpretation of the results and continue on C. Stop working on the project until you both agree on the direction D. Cancel the project and then, after an agreement is reached, submit a new proposal and price to restart the project

C. The customer uses his discretion in determining the meaning

If the customer's SOW contains words such as nearly or approximately, then: A. The project manager uses his discretion in determining the meaning B. The sponsor uses his discretion in determining the meaning C. The customer uses his discretion in determining the meaning D. Scope creep is likely

B. 13 weeks

If the optimistic time for an activity is 6 weeks, the pessimistic time is 24 weeks and the most likely time is 12 weeks, then the expected duration is: A. 7 weeks B. 13 weeks C. 22 weeks D. 24 weeks

D. 22

If the slack in a 12-week activity is 6 weeks and ES = 4, then LF = ________. A. 4 B. 10 C. 16 D. 22

B. Ask the contractor to put forth a change request

One of your contractors has sent you an email requesting that they be allowed to conduct only eight tests rather than the ten tests required by the specification. What should the project manager do first? A. Change the scope baseline B. Ask the contractor to put forth a change request C. Look at the penalty clauses in the contract D. Ask your sponsor for his or her opinion

1. Best possible use of resources within given time and cost constraints 2. Assists in the control of "one-of-a-kind" projects 3. Introduces the concept of "Slack" as a means of reducing time delays 4. Time Network Analysis 5. Interdependencies of activities 6. Tells us the longest or most critical path to the completion of a project 7. Scheduling risk analysis

What are some advantages that network techniques have over other scheduling methods?

1. Work Breakdown Structure 2. Work Planning Authorization 3. Master Production Schedule 4. Detailed Schedule 5. Program Plan 6. MCCS Budget

What are the 6 parts of the planning phase of the MCCS cycle?

1. Planning 2. Work Authorization and Release 3. Cost Data Collation and Reporting 4. Cost Accounting 5. Customer and Reporting

What are the five phases of a MCCS (management cost and control system)?

D. It is limited

What are the maximum number of inputs and outputs that can exist in a node in the precedence diagramming method? A. 3 each B. 5 each C. 10 each D. It is unlimited

D. Unlimited number

What are the maximum number of subsidiary plans a program management plan can contain? A. 10 B. 15 C. 20 D. Unlimited number

Work packages are low-level tasks or job assignments that describes the work to be accomplished by a company. WP's also are used as a means to monitor and track the progress of work.

What are work packages?

the work breakdown structure (WBS)

What breaks down work into smaller "more identifiable elements" which gives a higher chance that every task will be accounted for?

statement of work

What does SOW stand for?

1. Introduction 2. Project description 3. Academic-Literature review 4. Deliverables 5. Itemized cost summary 6. Project schedule (Gantt chart) Remember: Imagine Penny's artsy dog in Panama.

What does a statement of work include (6 things)?

-act as a negotiator for disagreements between project and line management - provide clarification of critical issues - provide communication link with customer's senior management

What does senior management (project sponsor) do during the planning phase?

-detailed task descriptions to implement objectives, requirements, and milestones -detailed schedules and manpower allocations to support budget and schedule -identification of areas of risk, uncertainty, and conflict

What does the line manager define during the planning phase?

- goals and objectives - major milestones - requirements - ground rules and assumptions - time, cost, and performance constraints - operating procedures - administrative policy - reporting requirements

What does the project manager define during the planning phase?

A. Understanding of the requirements

Which of the following would be the first item to be discussed in the initial kickoff meeting for a project? A. Understanding of the requirements B. Understanding of the plan C. Understanding of the schedule D. Understanding of the budget

-knowing where slack is allows for improved technical performance -companies that utilize slack were 30% more successful (on average) completing requirements

Why is it important to know where the slack is in a project (2)?

-No disagreement on project deliverables -reduce uncertainty (time, scope), quality -bidder & company both have a good understanding of project expectations -used as a guideline to derive standard costs for pricing out equipment

Why is it necessary to have specifications for a project?

Similar to a Plant Production Schedule where all planning for materials, labor, facilities, equipment/machinery, and financing for the plant are driven by MPS.

Why would MPS be part of a MCCS?

planned expenditures required to achieve or exceed objectives

describe the budget component of the planning phase

a projection of what will happen by a certain time

describe the forecast component of the planning phase

a goal, target, or quota to be achieved by a certain time

describe the objective component of the planning phase

design of the number and kinds of positions, along with corresponding duties and responsibilities, required to achieve or exceed objectives

describe the organization component of the planning phase

a general guide for decision making and individual actions

describe the policy component of the planning phase

a detailed method for carrying out a policy

describe the procedure component of the planning phase

strategy to be followed and major actions to be taken in order to achieve or execute objectives

describe the program component of the planning phase

a plan showing when individual or group activities or accomplishments will be started and/or completed

describe the schedule component of the planning phase

a level of individual or group performance defined as adequate or acceptable

describe the standard component of the planning phase