Ch.17+Project+Management

  ** Chapter 17: Project Management ** Project Management is a __**Team-Based Approach**__ for managing projects. Project managers have various responsibilities that include: · __Organizing workload__ : making sure that work is done in the appropriate sequence, and goals are met __·__ __Human resources__ : providing motivation and direction to people working on the project __·__ __Communications__ : making sure that people on the project have the information and communciation needed to complete the project __·__ __Time__ : Scheduling and making sure projects are being completed as scheduled __·__ __Costs__ : Staying within the budget __·__ __Quality of work:__ meeting the objectives of the project

There are a number of tools used, such as work breakdown structure, network diagrams, and Gantt charts. **Slack** is the allowable amount of slippage for a path and is found by taking the difference of the particular path and the critical path (late start MINUS early start or late finish MINUS early finish). To **crash** a project means to shorten it and managers should do this one period at a time. Two similar and commonly used techniques--PERT and CPM depict the sequential relationship among the activities.

** Project Life Cycle ** The size, length, and scope of the projects vary widely according to the nature and the purpose of the project. However, all projects have one common aspect, a life cycle which consists of four phases: 1. **//Definition //** has two parts: (a) concept, at which point the organization recognizes the need for a project or responds to a request for a proposal from a customer or client. (b) feasibility analysis, examines the expected costs, benefits and risks of carrying out the project. 2. **//Planning //** outlines the details of the work and estimates the necessary HR, time and cost required. 3. **//Execution //** Time during which the project itself is done. Often accounts for the majority of time and resources used in the project. 4. **//Termination //**<span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;"> Phase during which closure is achieved. It can involve reassigning personnel and dealing with any leftover materials, equipment, or any other resources associated with the project. One phase does not have to be fully completed before the next phase can begin. This can reduce the time needed to move through the life cycle and perhaps even generate a competitive advantage and save cost.

<span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">Projects are single operations designed to accomplish a specific set of instructions under a limited period. Members of different projects will vary in skill and knowledge, therefore organization and functionality as a unit are important to the success of the project. Projects undergo different stages of a life cycle. Software is implemented to help design prototypes, organize information, decrease costs and estimate time. Project Management ** Managers are usually confronted with making unique decisions based on a specific environment and business operation. Project management is a unique, one- time operation designed to accomplish a specific set of objectives in a limited time. With limited time and a variety of activities involved, unique problems arise for the project manager. Projects go through a series of stages known as a life cycle: Definition, planning, execution, and delivery. To coordinate and plan large scale projects, PERT and CPM are two techniques most commonly used.

Decisions need to be prioritized in order to accomplish a task. Logically, the book states the decisions systematically: deciding what project to implement, selecting the project manager, selecting the project team, planning and designing the project, managing and controlling project resources, and deciding if and when the project should be terminated. Full responsibility lays on the selected project manager, so they must be diligent. Diligence does not just apply to just his/her actions, but also the work delegated to the project team. Constantly, every aspect of the project must be accounted for; this includes the work, workers, team communication, performance

ed three certain times of the activity as variables: the **optimistic time** (time it would take under ideal conditions, to), **pessimistic time** (time it would take under worst conditions, tp), and **most likely time** (time it would take under probable conditions). Managers use statistical analysis to further examine activity times. They use the like of **beta distribution** to graphically look at the variability of time estimates (see figure 17.8, pg 782). By adding the weighted averages (te) of different activities in a certain path one may find the critical path. Then by finding its variance one may find out the uncertainty of an activity's time. When computing probabilistic time estimates, one can find the probability that the project will be done by a deadline or longer.

Projects are usually composed of a unique set of activities established to realize a given set of objectives in a limited time span. Projects go through a life cycle that involves definition, planning, execution, and deliver. Project Evaluation and Review Technique (PERT) and the Critical Path Method (CPM) are two normally used techniques for developing and monitoring projects. CPM models the activities and events of a project as a network. It is currently little difference between the two of them. For constructing a network diagram you can use two slightly different conventions. One designates the arrows as activities, the other designates the nodes as activities.

** Project Management Software Technology has played a key role in project management. The use of computer-aided design (CAD ) to produce updated prototypes .One of the software programs discussed in this chapter to help manage projects is Microsoft Project. As many of us have used Microsoft Project in our homework assignments as well as in lab, one has learned that it can be customized to accommodate specific needs. Microsoft Project can be use to successfully estimate cost, track progress and create schedules. Nonetheless, Microsoft Project makes communication easier among organizations by enabling its users to share a project plan with others, format & print custom reports and easily present project status. Some of the advantages in using Project management software packages are that it provides logical planning structure, enhances communication among team members, flags the occurrence of constant violations, automatically formats reports, and generates various chart types such as the Gantt chart used in lab. ** A Recap Summary ** Project management is a team-based approach for managing project. The nature of the project may vary in different situations. That is why it is the management’s responsibility to make key decision on deciding which projects to implement, selecting the project managers, selecting the project team, planning and designing the project, managing and controlling project resources, and deciding if and when a project should be terminated. Risk management and budgeting are some of the factors that play an important role for managers when deciding if a project is worth selecting and proceeding with. A typical project life cycle can be broken down into four phases: Definition, planning, execution, and termination. PERT (program evaluation and review technique) and CPM (critical path method) are two methods that managers often use for planning and coordinating large-scale projects. These methods can either be probabilistic or deterministic.

__Project Champions__

 * These project champions are people who usually work within the company who promote and support the project for the company. They will "talk up" the project to other managers who will need to be resources to the project, or might be asked to work on the project. The work project champions put in is essential for the success of the project, thats why team members need to support the project champions. **

1. All of the following are tools used in project management **__EXCEPT__**? a) Network diagram b) Gantt charts d) Risk management e) Work breakdown structure
 * c) Control charts**


 * Answer: C (Pg.783-785)**

2.Which of the following best describes the critical path? a) The most used b) The shortest path d) The least liked e) The most efficient
 * c) The longest path**


 * Answer: C (Pg. 786)**

3.Which of the following is **__NOT__** a phase of the project life cycle? a) Planning c) Definition d) Execution e) Termination
 * b) Implementing**


 * Answer: B** **(Pg.783)**

4.Managers should crash projects: a) By grouping related activities c) By choosing the most important activity on the path d) By choosing the most expensive activity on the path e) With the approval of the crash specialist
 * b) One period at a time**


 * Answer: B (Pg.803)**

5. Which of the following information is __**NOT**__ provided by the PERT technique**?** a) An estimate of how long the project will take c) Graphical display of project activities d) An indication of which activities are most critical to timely project completion e) An indication of how long any activity can be delayed without delaying the project
 * b) An estimate of how much each activity will cost if delayed**


 * Answer: B (Pg. 784-785)**

6). The phases of project life cycle are : a. Enter, growth, maturity, decline b. Beginning, middle, and end. d. Definition, execution, termination e.None of the above
 * c. Definition, planning, execution, termination.**


 * Answer: C (pg. 783)**

7). The pros of working on projects are: a. Disrupts friendships and daily routines b. Increases morale and motivation c. Opportunities to meet new people e. None of the Above
 * d. b and c**


 * Answer: D (pg. 782)**

8). A Project manager is responsible for: a. Designing prototypes. b. Organizing information. c. Time, costs, communications d. Human resources
 * e. Both C & D**


 * Answer: E (pg. 780)**

9)What is used to estimate the cost and time to complete the various elements of the project? a. The four life cycle phases of the project. b. Hiring someone to figure it out for them. d. PERT e. CPM
 * c. Developing the (WBS).**


 * Answer: C (pg. 783)**

10). Given the information of activity 3-4: ES = 5, EF = 10, LS = 15 and LF = 20, we can determine that the amount of slack associated with the activity is : a. 20 b. 50 d. 30 e. 15
 * c. 10**

<span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;"> 11) What is the term used to describe when time estimates are fairly certain?. a) Concrete b) Definite c) Probabilistic e) Actual
 * Answer****: C (pg. 795)**
 * d) Deterministic**


 * Answer: D Pg(781)**

12) Slack can be determined by: a) Late Start minus Early Finish b) Late Start minus Early Start c) Early Start plus Late Start d) Late Finish minus Early Finish ANSWER: E (Pg. 795)**
 * e) Both B and D

13) When there is zero slack indicated by activities then the path is: a) Operational path b) Optimal path c) Active Path e) Deterministic
 * d) Critical path**


 * Answer: D (Pg. 772)**

14) To determine crashing requires information about (d) a) Regular time and crash time estimates for each activity b) Regular cost and crash cost estimates for each activity c) a list of activities that are on the critical path e) none of the above
 * d) all of the above**


 * ANSWER: D (Pg. 788)**

15) PERT's features allows: a) a graphic display of the project and its major activities b) identification of activities that should be closely watched and activities with slack time c) organization of available information and identify additional information needed. e) none of the above
 * d) all of the above**


 * Answer: D (Pg.784)**

16.) The two most widely used techniques for planning and coordinating large scale projects are: a. AOA and AON b. PERT and AOA d. CPM and AOA e. PERT and AON
 * c. PERT and CPM**

//**Answer: C (Pg. 784)**//

17.) Which of the following are the 4 stages in the project life-cycle? b. definition, coordination, delivery, termination c. definition, growth, maturity, decline d. planning, definition, delivery, execution e. Planning, coordination, execution, termination
 * a. definition, planning, execution, delivery**

//**Answer: A (Pg. 783)**//

18.) What method establishes a logical framework for identifying the required activities for a project? a. Net work diagram c. CPM d. PERT e. Activity method
 * b. Work breakdown structure (WBS)**

//**Answer: B (Pg. 783)**//

19.) A person who promotes and supports a project is called a: a. Project manager c. Project supporter d. Project leader e. Project coordinator
 * b. Project champion**

//**Answer: B (Pg. 781)**//

20.) The _ is the main person in charge of a project. The success or failure is contributed from this person. They are in charge of effectively managing the work, human resources, communications, quality of products, time and budget costs. b. Project champion c. Project supporter d. Project leader e. Project investor
 * a. Project manager**

//**Answer: A (Pg.779-780)**//

21) Which is **not__** a key decision in project management? (page 778) a. Deciding which projects to implement b. Selecting the project team c. Managing and controlling project resources e. None of the Above
 * d. Eliminating current projects.**


 * Answer: D (Page 778)**

22) The project manager is responsible for managing which of the following? a. Time, so that the project is completed on schedule b. Control, so that one can control the whole group c. Costs, so that the project is complete within budget e. None of the Above
 * d. A and C**


 * Answer: D (Page 780)**

23) Which the following is excluded in Project Life Cycle? a. Definition b. Planning c. Execution d. Termination
 * e. Growth**


 * //Answer: E (Page 783)//**

24) Probabilistic time estimates include all but which of the following? a. Optimistic Time c. Pessimistic time d. Most Likely time e. None of the Above
 * b. Sure time**


 * //Answer: B (Pg.773)//**

25. Which of the following contain 3 of the 6 project manager's responsibilities? b) costs, time, materials c) quality, punishment, costs d) communication, rewards, time e) costs, human resources, materials.
 * a) work, human resources, communication**


 * //Answer: A (Page 778)//**

26. To effectively manage a project: a) a project manager must bring food to every meeting. b) a project manager must reward the team for high quality work. c) a project manager must plan for daily meetings until the tasks are fulfilled. e) a project manager must make the team criticize each other.
 * d) a project manager must employ a certain set of skills.**


 * //Answer: D (Page 780)//**

27. The position of project manager has: a) low visibility b) some visibility c) no visibility d) varying visibility
 * e) high visibility

//Answer: E (Page 780)//**

28) The Project Management Triangle: a) says schedule in the middle b) says cost in the middle d) says quality on the side e) says performance objectives in the middle
 * c) says quality in the middle**


 * //Answer: C (Page 780)//**

29) In project management, selecting a project manager: a) is the final step. c) is less of a priority than forming the project team. d) is unnecessary considering someone will naturally take the position. e) is unnecessary because project teams work better without a leader. <span style="display: block; font-family: 'Calibri','sans-serif'; font-size: 11pt; text-align: center;"> **//Answer: B (Page 779)//**
 * b) is the first and most important decision.**

<span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">30)If a manager doesn't know what the activity time for a certain situation would s/he use ? a) Microsoft Excel b) Crash Time Approach d) Conditioning Approach e) both a and b
 * c) Probabilistic Time Approach**


 * //Answer: C (Pg.781)//**

31) Which of the following times is not the time estimates needed is the probabilistic time approach b) Optimistic Time c) Most Likely Time d) Pessimistic Time e) None of these times are needed in the approach
 * a) Probable Time**


 * //Answer: A (Pg.781)//**

32) Which distribution describes the inherent variability of time estimates for activities? a) Alpha Distribution b) Time Distribution c) Deadline Distribution d) Activity Distribution
 * e) None of these distributions describe the variability of time estimates**


 * //Answer: E (Pg.782)//**

33) Slack time can be computed as a. ES – LS b. ES – EF d. LF – LS e. None of the above
 * c.** **LS – ES**


 * Answer: C (Pg. 795)**

34) The expected time of a path is equal to the sum of what? (pg 782) a) Optimistic Times b) Path Variance d) a and c e) b and c
 * c) Time Estimates of activities**


 * Answer: C (Pg.782)**

35) The length of time required under optimal conditions is: a) **Optimistic time** b) Pessimistic time c) Beta distribution d) Most likely time e) None of the above


 * Answer: A (Pg.796)**

36) The most probable length of time to be required is: a) Optimistic time b) Pessimistic time c) Beta distribution d) **Most likely time** e) None of the above


 * Answer: D (Pg.796)**

37) The definition of Crash is: a) **Shortening activity duration** b) Extending activity duration c) A budget control activity d) a and c e) None of the above


 * Answer: A (Pg.803)**

38) Budget control is a aspect of a a) not critical project b) **critical project** c) good budget d) not goo budget e) None of the above


 * Answer: B (Pg.802)**

39) What is a sequence of activities that leads from the starting node to the finishing node? a) Slack b) **Path** c) PERT d) CPM e) Events


 * Answer: B (Pg.786)**

40) Which of the following is NOT an advantage of using a Project Management Software Package? A) Automatically format reports B) Enables "what-if" scenarios C) Generates various chart types E) Imposes a common project management terminology
 * D) Provides illogical planning structures**


 * Answer: D (Pg.794)**

41) The probability of occurrence of risk events is: A) highest near the beginning of a project B) lowest near the beginning of a project D) lowest near the beginning of a project & highest near the end E) None of the above
 * C) highest near the beginning of a project & lowest near the end**


 * ANSWER: C (Pg.793)**

42) What do project planners use when dependent cases occur? B) Crashing C) Slack D)Probability E) PERT
 * A) Simulation**


 * ANSWER: A (pg.787)**

43) What are some typical factors to take into account when deciding which projects to implement? A) Cost-Benefit B) Skill Personnel C) Budget D) C and B (**//This type of questions are confusing, can you provide 1 option, instead of 2?)//**
 * E) All of the above**


 * ANSWER: E (pg. 765)**

44) The Beta distribution is: A) symmetrical or skewed only to the right B) used to describe the inherent variability in activity time estimates C) mean and variance can be readily obtained from optimistic time, most likely time and pessimistic time D) A and C
 * E) B and C**


 * ANSWER: E (pg. 782)**

45) All of the following are stages of the project life cycle, except a)Termination b)Planning d)Execution e)Termination
 * <span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">c) Maturity **<span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">


 * Answer: C (pg.783)**

46) Which is the first step in developing a workdown breakdown structure (WBS)? a)Identifying list of activities that need to be accomplished c)Identifying amount of time needed to complete each activity d)Identifying supporting activities e)Identifying work force needed to identify elements
 * <span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">b)Identifying major elements **<span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">


 * Answer: B (pg. 783)**

47) The longest path that determines expected project duration is a. Critical dummy activity b. Critical Slack c. Critical event d. CPM e. **<span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">Critical path **<span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">


 * Answer: E (pg.786)**

48) Early Finish (EF) can be defined as the a)The latest time the activity can start and not delay the project b)Expected project duration c)The earliest time activity can start, assuming all preceding activities start as early as possible e)The latest time the activity can finish and not delay the project
 * <span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">d)The earliest time the activity can finish **<span style="font-family: 'Calibri','sans-serif'; font-size: 11pt;">

<span style="font-family: 'Calibri','sans-serif'; font-size: 11pt; line-height: 150%;"> 49) What is the correct formula for path probabilities A. Specified time-path mean B. Specified time/path mean C. (Specified time-path mean)/path standard deviation D. Specific time/path standard deviation E. (Specified time-path mean)*path standard deviation
 * Answer: D pg.789**


 * Answer is C: (Pg. 799)**

50) Which of the followings is not the forecast based on judgment and opinion?

A) Consumer surveys B) Sales force opinions C) Time series D) Delphi method E) Executive opinions


 * Answer is C (p. 77-78)**

51) Shortening activity durations is called:

A) Speeding B) Expediting C) Crashing D) All of the above E) None of the above


 * Answer is C (p. 803)

52) Project Champions are people who:

A) Create the project B) Select team members **
 * C) Promotes and supports the project**
 * D) Critiques the team members **


 * Answer: C

53) Work Breakdown Structure (WBS) is a/an: **

C) Map of employees positions D) How to breakdown work ** E) Both b and c
 * A) Hierarchical listing of what must be done during a project**
 * B) Assignment of who does what
 * Answer: A**