Chapter 5 Project Management

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Questions and Answers

What type of elements are project deliverables classified as?

Projects

Nouns (correct)

Verbs

Adjectives

In the context of scheduling, what is the correct relationship between deliverables, work packages, and activities?

Deliverables are nouns, work packages are nouns, and activities are verbs. (correct)

Deliverables are nouns, activities are nouns, and work packages are verbs.

Deliverables and work packages are verbs while activities are nouns.

Deliverables are verbs, work packages are nouns, and activities are verbs.

What is the first step in Schedule Planning?

Create the activity list (correct)

Estimate activity durations

Sequence the activities

Develop the project schedule

Which of the following best describes a work package?

A smaller component of a deliverable. Signup and view all the answers

Which question pertains to estimating the duration of an activity?

How long will it take to perform the activity? Signup and view all the answers

What should be considered when defining the number of activities for a work package?

The available resources and the project timeline. Signup and view all the answers

During Schedule Planning, what is the second step that follows creating the activity list?

Sequence the activities and create a network diagram. Signup and view all the answers

What is the primary purpose of creating an activity list in project management?

To identify the necessary steps to complete work packages. Signup and view all the answers

Which term describes a smaller, detailed component of a deliverable in project management?

Work package Signup and view all the answers

What is a common method for determining the timing of project activities?

Identifying dependencies and scheduling. Signup and view all the answers

What approach did Sophie use to create her activity list?

Writing down work packages on paper and identifying activities. Signup and view all the answers

Which of the following is NOT a component listed in the activity list for the Promotional Video deliverable?

Create sign graphics/text. Signup and view all the answers

When breaking down a deliverable, which smaller component is NOT mentioned in the activity list for Communications?

Video Production Signup and view all the answers

Which factor is NOT considered when determining the number of activities in a work package?

The team members’ experience. Signup and view all the answers

In project management, what does the term 'deliverable' refer to?

A completed product or outcome of certain tasks. Signup and view all the answers

What is the first step in the project management process according to the content provided?

Initiate the project. Signup and view all the answers

What does the network diagram help to display in project management?

The sequence and dependencies between project activities Signup and view all the answers

What is the difference between duration and effort in project management?

Duration includes elapsed time, while effort is the actual time worked. Signup and view all the answers

What is the purpose of a three-point estimate in project management?

To account for uncertainty in activity duration estimates Signup and view all the answers

How can resource overallocations be addressed according to project management techniques?

By introducing additional dependencies based on resource availability Signup and view all the answers

What technique can be used for calculating a weighted average for project duration estimates?

Program evaluation review technique (PERT) Signup and view all the answers

What is a common issue related to estimating the duration of an activity?

Insufficient understanding of required resources can lead to underestimations. Signup and view all the answers

What potential problem can arise from adding contingencies to a project schedule?

It complicates the project timeline and expectations. Signup and view all the answers

What does the term 'resource leveling' refer to in project management?

Scheduling project activities to minimize resource contention Signup and view all the answers

Which of the following activities is considered a prerequisite for estimating activity durations?

Identifying the type of resources assigned to each activity Signup and view all the answers

Study Notes

Project Life Cycle Overview

Project Life Cycle consists of four phases: Initiating, Planning, Executing, and Closing.
Each phase includes various chapters relevant to planning and managing a project.

Stakeholder and Project Planning

Planning involves stakeholder planning, schedule planning, budget planning, scope planning, project team planning, quality planning, risk planning, communications planning, and procurement planning.
Effective stakeholder analysis is essential for project success.

Schedule Planning

Essential steps include creating an activity list, sequencing activities, and estimating activity durations.
Activities are derived from deliverables, broken down into work packages and defined as actions (verbs).

Work Breakdown Structure (WBS)

Projects are divided into deliverables (nouns), which can further break down into smaller deliverables (work packages).
Work packages are then segmented into specific activities required for their completion.

Estimating Activity Duration

Duration estimates must consider available resources and can be challenging due to uncertainties.
Different approaches to estimate include three-point estimates that factor optimistic, most likely, and pessimistic durations.

Network Diagrams

Useful for visualizing the sequence and dependencies of activities in a project.
Each activity is represented in rectangles, with arrows indicating their dependencies.

Resource Management

Resource leveling addresses resource allocation issues when multiple activities require the same resource simultaneously.
Adding human resources needs careful planning to avoid multitasking challenges.

Types of Project Schedules

Milestone-based schedules focus on key project milestones and deadlines.
Activity-based schedules detail all activities with their start and end dates.
Dependency-based schedules, such as Gantt charts, show activity dependencies and timelines visually.

Critical Path Method (CPM)

CPM identifies the longest sequence of dependent activities, determining the minimum project duration.
Total float refers to the time an activity can be delayed without impacting the overall project timeline.

Contingencies in Scheduling

Adding contingencies to the schedule can buffer uncertainties but may complicate overall project planning if not managed carefully.

Case Study Insights

Case study example highlights practical application of scheduling techniques through a fictional project (Deco Productions).
Activities for different deliverables were specified, with corresponding timelines and dependencies illustrated in network diagrams.

Key Components of Activity List

Detailed descriptions of activities required for deliverables (e.g., creating signage, press releases).
Organization of tasks into clear lists to facilitate scheduling and execution phases.

Reporting Project Status

Regular reporting is crucial for monitoring project progress against planned schedules and budgets.
Requires effective communication with stakeholders to relay updates and any necessary course corrections.

Closing the Project

Finalizing all project aspects includes ensuring all deliverables meet quality standards and securing stakeholder acceptance.
Documentation and lessons learned are captured for future reference.

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Description

This quiz covers key chapters from the Project Life Cycle, including stakeholder, schedule, budget, scope, team, quality, risk, and communications planning. Participants will also explore project execution, human resource management, status reporting, and project closing. Test your understanding of these essential concepts.