Project Management Ch 7/8 homework

What are the impacts of resource-constrained scheduling?

Reduces Slack Reduces Flexibility Increase near critical and critical activities Extends project duration

The attempt to recognize and manage potential and unforeseen trouble spots that may occur when a project is implemented is known as

Risk management.

Adopting proven technology instead of experimental technology in order to eliminate technical failure would be an example of which risk response?

avoiding

If three copiers are needed to produce a final report on time and only two are available, the project is facing a(n) ________ type of resource constraint.

equipment

In order that the new product is on the shelf for the Christmas buying season, the development of the new product would be classified as a(n) ________ -constrained project.

time

When classifying projects, ________ constrained means that project duration is fixed and resources are flexible.

time

A key distinction between a risk response and a contingency plan is

A risk response is part of the actual implementation plan and action is taken before the risk can materialize, while a contingency plan goes into effect only after the risk has transpired.

What is the difference between budget reserves and management reserves?

Budget reserves are set up to cover identified risks; they are allocated to specific or deliverables of the project. Management reserves are needed to cover major unforeseen risks and, hence, are applied to the total project.

Which of the following is NOT involved in risk control?

Establishing contingency funds

Identify and briefly describe the three types of project constraints that could impact or change the structure of project network.

People - human resources, examples include programmers, electrical engineers, marketing director or supervisor Equipment - things needed to complete project--chemicals, concrete or survey data Material - machines or tools needed to complete project.

Which of the following groups should NOT be a part of the risk identification process?

Project team Customers Subcontractors Vendors All of these groups can be included in the risk identification process

Why is it important to make efforts to identify resource scheduling problems before the project is implemented?

To assist in determining the appropriate amount of time to complete project.

Change management systems are designed to accomplish all of the following EXCEPT

Track all changes that are to be implemented. Review, evaluate, and approve/disapprove proposed changes formally. Identify expected effects of proposed changes on schedule and budget. Reflect scope changes in baseline and performance measures. All of these are examples of what change management systems are designed to accomplish.

A fixed price contract is an example of

Transferring risk.

A list of questions that address traditional areas of uncertainty on a project is termed a

What is a "trigger" and why is it important when planning contingencies?

Many companies are ________ project work to contractors and consultants as a means of dealing with the peaks and valleys of resource allocation among projects.

outsourcing

All leveling techniques delay noncritical activities by using ________ to reduce peak demand.

positive slack

When classifying projects, ________ constrained means that a specific resource is fixed and the duration of the project is flexible.

resource

The cost impact of a risk event occurring as a project proceeds through its life cycle tends to

slowly rise

When the work in an activity is interrupted to work on another activity and is then resumed at a later point in time, it is called _________.

splitting or multi-tasking

Resource dependency takes priority over the technological dependency but does not violate ___________ dependencies.

technical