IT project management.pdf

IT project management SECTION A Question one. List the process of a project lifecycle and mention any two events under each phase or stage?. Initiation = goals & specifications. Planning = schedule and budget. Execution = task assignments and progress monitoring....

IT project management SECTION A Question one. List the process of a project lifecycle and mention any two events under each phase or stage?. Initiation = goals & specifications. Planning = schedule and budget. Execution = task assignments and progress monitoring. Termination = final deliverable review and project documentation 3 Question two. 2 Sketch and give the details of a node or Legend as used in the project management network diagram. 1 Early start Activity ID Early finish Slack Description Slack Late start Duration Late finish Question three. Defined the term project and give three characteristics of the project. Project is a complex, non-routine, one-time effort, limited by time, budget, resources, and performance specifications designed to meet customer needs.. An established goal. Performing unique activities. Defined span with a beginning and an end 4 3 Question four. 2 Differentiate between projects programs and portfolio, using the criteria, definition and scope. 1 Project Program Portfolio Definition It is a temporary endeavor A collection of group of Group of programs to with a beginning and an projects. often made up of achieve a specific strategic  projects. often made up of achieve a specific strategic end year projects that are inter- business goal. related Scope It has a different objective. Has a larger scope and Has Organizational scope Scope is progressively provide more significant that changes with the elaborated throughout the benefits. strategic objectives of the project life cycle. organization Question five. Give two means each that projects can be accelerated when : A. resources are constrained.. Fast tracking. Critical chain B. resources are not constrained.. Adding resources. Outsourcing project work Question six. As a project manager give three ways by which you can identify the culture of an organization. Read about the organization. The physical characteristics of an organization. Observe how people interact within the organization Question seven. Risk and onset tea cannot be overlooked in the running of business A. List any four types of risk associated with projects and/or entrepreneurial ventures.. Financial risk. Operational risk. Regulatory risk. Markets risk B. Identify any four of the fundamental guidelines or managing risk and uncertainty.. Risk assessment. Diversification. Regular monitoring. Contingency planning Question eight. The term Smart is often used to describe the objects of any project. Explain what this represents in terms of project objectives.. Specific: objectives should be clear and well-defined specify exactly what has to be achieved. Measurable: objective must include criteria for measuring progress and success. Achievable: objective must be realistic and attainable, considering available resources and constraints. Relevant: objective needs to align with broader goals and be pertinent to overall vision of the project Question nine. List the priority rules or heuristics when resources needed exceeds the resource available. SECTION B A. Criteria Y0 Y1 Y2 Y3 Y4 total Cash out flow -100,000 -80,000 80,000 -60,000 -40,000 -360,000 Cash in flow 150,000 80,000 150,000 100,000 480,000 1. Net cash -100,000 70,000 - 90,000 60, 000 120,000 flow. 2. Discounted 1 0.9090 0.8264 0.7513 0.6830 factor. 3. Discounted -100,000 63,630 - 67,617 40,980 cash flow.. Net present value = 72, 227 Calculate payback period I. In year one. 63,630 + (-100,000) = -36,370 II. In year two. -36,370 + 0 = -36,370 III. In year three -36,370 + 67,617 = 31,247 in year three (67,617) /12months = 5,634.75 100,000/5,634.75 = 17.74 months B. As the project manager, this project is able to wanna take