Project Management Principles
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Questions and Answers

What is the main focus of the project described in the objectives?

  • Enhancing the quality of customer interactions
  • Improving the speed of customer service resolutions (correct)
  • Increasing customer call volume
  • Reducing customer service costs

    • Which of the following is NOT one of the three competing demands in the project Iron triangle?

  • Cost
  • Customer satisfaction (correct)
  • Time
  • Quality

    • What should be done first when establishing project scope?

  • Anticipate trade-offs
  • Brainstorm alternatives
  • Define the problem (correct)
  • Identify stakeholders and their needs

    • How are scope and quality related in the context of the project Iron triangle?

    <p>Customers perceive deliverables in terms of both scope and quality.</p> Signup and view all the answers

    What is the expected outcome if the time variable in the project Iron triangle is changed?

    <p>Both cost and quality will also change.</p> Signup and view all the answers

    Which role is responsible for ensuring that senior management supports project decisions?

    <p>Project Sponsor</p> Signup and view all the answers

    What does the project sponsor do when organizational objectives change?

    <p>Adapts the project objectives accordingly</p> Signup and view all the answers

    What is one of the key characteristics of SMART objectives?

    <p>Actionable and achievable</p> Signup and view all the answers

    How should project objectives be treated in the early stages of a project?

    <p>They may need to be refined</p> Signup and view all the answers

    Which of the following describes one of the responsibilities of a project sponsor?

    <p>To eliminate organizational obstructions</p> Signup and view all the answers

    What is the first step in establishing the project scope?

    <p>Define the problem</p> Signup and view all the answers

    What aspect is NOT part of defining SMART objectives?

    <p>Flexibility</p> Signup and view all the answers

    What is essential for successfully meeting project objectives?

    <p>Clear and understandable objectives</p> Signup and view all the answers

    What is the first step in drafting a project schedule?

    <p>Use the Work Breakdown Structure to develop a list of specific activities</p> Signup and view all the answers

    What is a key consideration when developing a project schedule?

    <p>Know which deadlines are rigid and which are flexible</p> Signup and view all the answers

    What should be done after identifying bottlenecks in a project schedule?

    <p>Determine ways to remove bottlenecks or build in extra time</p> Signup and view all the answers

    What is a good practice when recording time segments in a project schedule?

    <p>Record all time segments in the same increments</p> Signup and view all the answers

    Why is flexibility important in project scheduling?

    <p>To facilitate handling of unforeseen problems</p> Signup and view all the answers

    What is the purpose of assigning a deliverable to each activity in a project?

    <p>To provide a clear target for each task</p> Signup and view all the answers

    What is crucial when developing the project schedule based on deliverables?

    <p>Set realistic milestones and due dates</p> Signup and view all the answers

    Which activity should be prioritized first for crashing to reduce the project duration?

    <p>Activity F</p> Signup and view all the answers

    What is the purpose of identifying the critical path in project management?

    <p>To allocate resources more efficiently</p> Signup and view all the answers

    Which of the following activities is NOT on the critical path?

    <p>Activity E</p> Signup and view all the answers

    When is it advisable to create a budget in the project management process?

    <p>During the Conceptualization phase</p> Signup and view all the answers

    What can be a consequence of crashing activities that are not on the critical path?

    <p>Increased overall project costs</p> Signup and view all the answers

    Which sequence of activities constitutes the critical path in the given project?

    <p>A – C – D – F – H</p> Signup and view all the answers

    What does a project budget translate into?

    <p>Measurable expenditures and anticipated returns</p> Signup and view all the answers

    Why would reducing the time for task C not affect the overall project duration?

    <p>Task C is not on the critical path</p> Signup and view all the answers

    What is the first step in establishing the project scope?

    <p>Define the problem that your project needs to solve</p> Signup and view all the answers

    Which of the following is a symptom rather than an underlying problem?

    <p>We can't get the data out fast enough</p> Signup and view all the answers

    What is the purpose of asking probing questions in project management?

    <p>To explore underlying problems that need addressing</p> Signup and view all the answers

    What should you avoid when brainstorming solutions for a project issue?

    <p>Rushing into the most obvious solutions</p> Signup and view all the answers

    Which question is most important when evaluating alternatives for a project solution?

    <p>Will this alternative result in a complete fix of the problem?</p> Signup and view all the answers

    What is a potential consequence of not addressing underlying problems in a project?

    <p>Wasted time and resources</p> Signup and view all the answers

    What should be anticipated during the project planning process?

    <p>Trade-offs between different solutions</p> Signup and view all the answers

    Which question should be considered when generating alternative solutions?

    <p>What type of data do users require?</p> Signup and view all the answers

    Study Notes

    Defining the Project Scope

    • Before rushing into solutions, first define the problem the project aims to solve.
    • Ask probing questions that uncover the practical and business issues the project will address.
    • Avoid describing symptoms, instead delve deeper to understand the underlying problems.
    • Brainstorm alternative solutions, and evaluate them based on cost, effectiveness, and ability to provide a complete fix.
    • Select the best alternative after analyzing the options.

    Identifying Stakeholders and Their Needs

    • Stakeholders can include customers, users, sponsors, and other parties impacted by the project.
    • Analyze their needs and align project objectives with their expectations.

    Defining Objectives for the Project

    • Project objectives should clearly and concisely define what the project aims to achieve.
    • Objectives should reflect stakeholders' needs and be specific, measurable, actionable, realistic, and time-bound (SMART).
    • Be prepared to refine objectives as conditions change during the project's initial stages.

    Anticipating Trade-offs

    • Every project faces trade-offs among quality, time, and cost.
    • Adjusting one variable will impact the other two.
    • It's crucial to identify potential trade-offs and make informed decisions regarding resource allocation.

    The Project Sponsor

    • The sponsor is a key stakeholder, often a senior manager, authorized to:
      • Authorize and champion the project.
      • Ensure support from senior management.
      • Define the scope of work.
      • Provide necessary resources for the project.
      • Approve or reject the project's final deliverables.
      • Communicate project progress to the organization.
      • Eliminate organizational obstructions.
      • Monitor changes in organizational objectives that might affect the project.
      • Resolve difficulties regarding team members' time allocation between project tasks and regular assignments.

    Project Schedule and Budget

    • Develop a realistic schedule based on specific activities and deliverables.
    • Identify potential bottlenecks and create contingencies to avoid delays.
    • Use a Work Breakdown Structure (WBS) to outline the project's activities and tasks.
    • Establish control and communication systems for updating and revising the schedule.
    • Allocate resources strategically to minimize costs while ensuring timely completion.
    • Critical Path Diagram: Helps identify the longest sequence of tasks that determines the project's total duration. Helps optimize resource allocation and minimize project length.

    Crashing a Project

    • Crashing involves reducing project duration by expediting specific activities.
    • Prioritize crashing activities on the critical path to maximize impact and minimize costs.

    Creating a Project Budget

    • Create a financial plan that translates the project plan into measurable expenditures and anticipated returns over a given period.
    • This plan should be revisited during the implementation phase if circumstances change.
    • Project success is measured, in part, by achieving project completion within the budget.

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    Related Documents

    Project Management Principles PDF

    Description

    Explore the essential principles of project management, focusing on defining the project scope, identifying stakeholder needs, and setting clear objectives. This quiz will test your understanding of effective project planning and execution strategies.

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