SCM300 Final UPDATED ACTUAL Questions and CORRECT Answers
o Attempts to achieve some measurable goals with a given
what is a project budget or resources and time; is unique
o Ex: making a movie
1. Define the project- what are you trying to achieve, define
this for project stakeholders
o Ex: filmmakers will develop an action movie around a
particular plot
2. Establish project priorities- project managers desire
high quality outcomes:
a. Projects that result in outstanding performance (quali-
ty)
b. Projects completed quickly (on time)
c. Projects completed with minimal resources (low cost)
o Ex: movie budget can't exceed $15M and it should be
ready for release before June 3, of next year
3. Work breakdown structure- the project needs to be
four steps in project management broken down into its smallest parts (activities) so that
reasonable estimates about time and resources can be
developed
a. The project must be reduced to its smallest activities
then organized sequentially into a chart and each individ-
ual activity's time and resource estimates must be made
b. Ex: the following listed activities can be established with
dates, people assigned/hired- script approval, casting,
filming
4. Track project progress- once the project begins, a pro-
ject manager will use a project management chart (AON
diagram) to track if the project is on/behind/ahead of
schedule
a. Ex: star actress will be unavailable for another three
, weeks due to other commitments so the filming will need
to be moved back ten days
cost, time, performance
project priorities triangle
o Break work items into smallest units
work breakdown structure
o Estimate of needs: people, time, cost
o The desired outcomes for the project (goals)- could be
in the areas of performance, cost, time and/or quality
objectives
o Ex: the movie will make at least $20M in ticket sales and
will not exceed budget
o A description of the products and/or services that should
be delivered by the end of the project; when the project is
deliverables
over, what does the client expect to be delivered?
o Ex: building, software, report, etc
o Specific events targeted as important to staying on track
that occur throughout the project
milestones
o Ex: critical dates to stay on track- filming starts May 1,
completed by July 31
Activity on node diagrams is an illustration where each
circle represents a single activity in the project and inside
AON diagrams
is given a name or symbol (A), along with a number to
indicate time to complete the activity
Add up all of the times leading the paths to find the longest
calculate length of critical paths
one
Slack is the amount of time a path or single activity can be
calculate slack for each path delayed without impacting the project duration; subtract
a path duration by the critical path
crash a project
, The act of finding a cost-effective way to decrease the
present length of the project by decreasing the time it
takes to complete the critical path
o A documented series of activities that when completed
properly aim to turn inputs (materials, equipment, labor)
effectively and eflciently into valuable products and/or
what is a business process
services
o Ex: how can a restaurant make the dishes on its menu
over again in a consistent but eflcient manner
o Consistency- outputs, resource utilization, employee
training should all be similar
o Managing from afar- companies that use consistent
business processes should be able to identify strengths
value of business processes
and weaknesses via analytics (EX service/wait times)
o Ability to grow- documented corporate business
processes allow the organization to more easily open new
locations through replication of the company
three characteristics of a good process
o Attempts to achieve some measurable goals with a given
what is a project budget or resources and time; is unique
o Ex: making a movie
1. Define the project- what are you trying to achieve, define
this for project stakeholders
o Ex: filmmakers will develop an action movie around a
particular plot
2. Establish project priorities- project managers desire
high quality outcomes:
a. Projects that result in outstanding performance (quali-
ty)
b. Projects completed quickly (on time)
c. Projects completed with minimal resources (low cost)
o Ex: movie budget can't exceed $15M and it should be
ready for release before June 3, of next year
3. Work breakdown structure- the project needs to be
four steps in project management broken down into its smallest parts (activities) so that
reasonable estimates about time and resources can be
developed
a. The project must be reduced to its smallest activities
then organized sequentially into a chart and each individ-
ual activity's time and resource estimates must be made
b. Ex: the following listed activities can be established with
dates, people assigned/hired- script approval, casting,
filming
4. Track project progress- once the project begins, a pro-
ject manager will use a project management chart (AON
diagram) to track if the project is on/behind/ahead of
schedule
a. Ex: star actress will be unavailable for another three
, weeks due to other commitments so the filming will need
to be moved back ten days
cost, time, performance
project priorities triangle
o Break work items into smallest units
work breakdown structure
o Estimate of needs: people, time, cost
o The desired outcomes for the project (goals)- could be
in the areas of performance, cost, time and/or quality
objectives
o Ex: the movie will make at least $20M in ticket sales and
will not exceed budget
o A description of the products and/or services that should
be delivered by the end of the project; when the project is
deliverables
over, what does the client expect to be delivered?
o Ex: building, software, report, etc
o Specific events targeted as important to staying on track
that occur throughout the project
milestones
o Ex: critical dates to stay on track- filming starts May 1,
completed by July 31
Activity on node diagrams is an illustration where each
circle represents a single activity in the project and inside
AON diagrams
is given a name or symbol (A), along with a number to
indicate time to complete the activity
Add up all of the times leading the paths to find the longest
calculate length of critical paths
one
Slack is the amount of time a path or single activity can be
calculate slack for each path delayed without impacting the project duration; subtract
a path duration by the critical path
crash a project
, The act of finding a cost-effective way to decrease the
present length of the project by decreasing the time it
takes to complete the critical path
o A documented series of activities that when completed
properly aim to turn inputs (materials, equipment, labor)
effectively and eflciently into valuable products and/or
what is a business process
services
o Ex: how can a restaurant make the dishes on its menu
over again in a consistent but eflcient manner
o Consistency- outputs, resource utilization, employee
training should all be similar
o Managing from afar- companies that use consistent
business processes should be able to identify strengths
value of business processes
and weaknesses via analytics (EX service/wait times)
o Ability to grow- documented corporate business
processes allow the organization to more easily open new
locations through replication of the company
three characteristics of a good process
