Podcast
Questions and Answers
What is the focus of step nine in the project management process?
What is the focus of step nine in the project management process?
- Monitoring project progress. (correct)
- Adjusting project plans.
- Reviewing project outcomes.
- Assessing team performance.
What challenge is associated with monitoring costs during a project?
What challenge is associated with monitoring costs during a project?
- Identifying areas of excess spending.
- Calculating the total budget from estimates.
- Allocating funds to different project phases.
- Distinguishing between real overspends and underspends. (correct)
In which step is it necessary to readjust the project plan?
In which step is it necessary to readjust the project plan?
- Step 10: Cost Monitoring.
- Step 11: Plan Readjustment. (correct)
- Step 12: Project Review.
- Step 8: Planning.
What is often overlooked during the project process according to the description?
What is often overlooked during the project process according to the description?
What must be admitted to stakeholders during step 11 if adjustments are required?
What must be admitted to stakeholders during step 11 if adjustments are required?
What is the first step in the 12-step project management process?
What is the first step in the 12-step project management process?
What tool is recommended for organizing tasks and estimating durations in the planning process?
What tool is recommended for organizing tasks and estimating durations in the planning process?
What is the purpose of adding a safety margin to the project plan?
What is the purpose of adding a safety margin to the project plan?
Which step addresses what to do when the project duration is unacceptable?
Which step addresses what to do when the project duration is unacceptable?
In which step do you analyze whether sufficient resources are available for the project?
In which step do you analyze whether sufficient resources are available for the project?
What is the main function of a Gantt chart in project management?
What is the main function of a Gantt chart in project management?
What should be done in the final planning step regarding potential obstacles?
What should be done in the final planning step regarding potential obstacles?
What is the significance of estimating durations for tasks during project planning?
What is the significance of estimating durations for tasks during project planning?
Flashcards
Project Monitoring (Step 9)
Project Monitoring (Step 9)
Tracking project progress to ensure timely completion.
Cost Monitoring (Step 10)
Cost Monitoring (Step 10)
Tracking project costs to stay within budget.
Project Plan Adjustment (Step 11)
Project Plan Adjustment (Step 11)
Adapting the project plan if needed, due to time or resource constraints.
Project Review (Step 12)
Project Review (Step 12)
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Underspend/Overspend
Underspend/Overspend
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Project Definition
Project Definition
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Project Planning
Project Planning
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Critical Path Diagram
Critical Path Diagram
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Task Duration Estimation
Task Duration Estimation
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Contingency Planning
Contingency Planning
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Project Crashing
Project Crashing
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Gantt Chart
Gantt Chart
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Resource Management
Resource Management
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Study Notes
12-Step Project Management Process
- Step 1: Project Definition: Crucial initial step. Clearly define project scope, quality expectations, cost, and timeline for the customer. Lack of clarity is a frequent cause of project failure.
Project Planning (Steps 2-8)
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Step 2: Task Listing: Create a comprehensive list of all project tasks. This is the foundation of the planning process.
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Step 3: Critical Path Diagram (CPD): Organize tasks in the correct order using post-it notes to visually represent the critical path. Determine task duration and calculate total project timeline.
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Step 4: Safety Margin: Include a safety margin in the project schedule to account for unforeseen delays or variations. Accurately determine contingency levels.
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Step 5: Project Crashing: Evaluate if the estimated project timeline is too long. Identify ways to shorten the project timeline—known as "crashing" the project plan.
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Step 6: Gantt Chart: Transform the refined project plan into a Gantt chart for visual representation of tasks, deadlines, and dependencies.
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Step 7: Resource Management: Assess resource availability (personnel). Evaluate if current resources are sufficient for the project and for multiple projects.
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Step 8: Risk Assessment: Analyze potential project risks, including likelihood and severity. Outline mitigation strategies to reduce risks.
Project Execution (Steps 9-11)
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Step 9: Progress Monitoring: Track project progress against the planned schedule and identify any deviations from the original schedule.
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Step 10: Cost Monitoring: Monitor project expenses and ensure adherence to the budget. Distinguish genuine cost fluctuations (e.g. underspends due to early completion of tasks) from actual cost overruns.
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Step 11: Plan Readjustment: Adjust the project plan if necessary. Communicate changes to stakeholders (e.g. request for additional time or budget).
Project Closure (Step 12)
- Step 12: Project Review: Conduct a thorough project review to gather lessons learned and improve future project execution. Regularly scheduled reviews are vital for organizational learning.
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