ENGR 303 QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) ALREADY GRADED A+
Free Float Ans✓✓✓The amount of time that an activity can be delayed
without impacting the following activities or project duration (early
finish - lag - early start)
Implementation Gap Ans✓✓✓Lack of understanding and consensus on
strategy among top management and mid level managers
Resource Conflicts & Multitasking Ans✓✓✓Multi-project environment
creates relationships of shared resources; results in starting and stopping
projects
Portfolio Management System Ans✓✓✓Selection Criteria for projects:
-Financial: Payback model, NPV
-Non-Financial: Projects of strategic importance (ex: larger market
share, core technology, etc)
Multi-weighted scoring models which use several selection criterian
(financial & non)
Project Network Ans✓✓✓Flowcharts that graphically depict the
sequence of events that take place within a project. Done in order from
start to finish. Has a critical path.
How to Avoid Project Failure Ans✓✓✓Know what the major risks are,
and keep them in mind
,-scope changes
-delays
-lack of good administration
-lack of trust
-poor communication
Organizational Politics Ans✓✓✓Project selection is based more on the
persuasiveness & power of the people advocating said project rather
than more technical reasons
Project Charter Ans✓✓✓-Description of the project
-Goal
-Successful Criteria
-Need/Opportunity
-Objectives
-Stakeholders
-Risks
Locke's Right Based Ethics Ans✓✓✓All individuals are free and equal
-right to live, health, liberty, possessions & products of labour
-What happens when one person's rights infringe on another person's
rights?
,Aristotle's Virtue Based Ethics Ans✓✓✓Happiness is achieved by
developing virtues or qualities of character based on reasoning
-golden mean between extremes
Project Management Ans✓✓✓The art of directing and coordinating
human and material resources throughout the life of a project
-use modern management techniques to achieve goals
Mill's Utilitarianism Ans✓✓✓An action is ethically correct if it
produces a greater benefit for the greatest number of people.
-Who evaluates the benefits?
Project Ans✓✓✓A temporary endeavour undertaken to create a unique
product, service, or results.
-One time thing
-Established life span
-Specific time, cost, performance requirement
Main factors for project success Ans✓✓✓-identify stakeholders -
Stakeholders expectations known
-senior management support -clearly stated purpose
-goal oriented culture -technically competent team
-effective & committed team -excellent communication
-trust
, Stakeholders Ans✓✓✓Individuals/organizations who have something to
be gained should the project succeed and lost if the project fails
Program Ans✓✓✓-series of coordinated, related, multiple projects
Interfering Float Ans✓✓✓Total Float - Free Float
amount of total float that interferes with the following activities
Kan't Duty Based Ethics Ans✓✓✓Each person has a duty to follow
those courses of action that would be considered universal principle
(don't lie, don't kill)
-what if the lie saves someone's life?
Benefits of portfolio management Ans✓✓✓-builds discipline -Links
project selection to strategic metrics -Prioritizes project proposal -
allocates resources to projects strategically -Balances risk across projects
-Justifies killing projects that aren't supportive -Improves
communication
Four Activities of strategic management process Ans✓✓✓1) Review
and define the mission
2) Set long range goals and objectives
(VERIFIED ANSWERS) ALREADY GRADED A+
Free Float Ans✓✓✓The amount of time that an activity can be delayed
without impacting the following activities or project duration (early
finish - lag - early start)
Implementation Gap Ans✓✓✓Lack of understanding and consensus on
strategy among top management and mid level managers
Resource Conflicts & Multitasking Ans✓✓✓Multi-project environment
creates relationships of shared resources; results in starting and stopping
projects
Portfolio Management System Ans✓✓✓Selection Criteria for projects:
-Financial: Payback model, NPV
-Non-Financial: Projects of strategic importance (ex: larger market
share, core technology, etc)
Multi-weighted scoring models which use several selection criterian
(financial & non)
Project Network Ans✓✓✓Flowcharts that graphically depict the
sequence of events that take place within a project. Done in order from
start to finish. Has a critical path.
How to Avoid Project Failure Ans✓✓✓Know what the major risks are,
and keep them in mind
,-scope changes
-delays
-lack of good administration
-lack of trust
-poor communication
Organizational Politics Ans✓✓✓Project selection is based more on the
persuasiveness & power of the people advocating said project rather
than more technical reasons
Project Charter Ans✓✓✓-Description of the project
-Goal
-Successful Criteria
-Need/Opportunity
-Objectives
-Stakeholders
-Risks
Locke's Right Based Ethics Ans✓✓✓All individuals are free and equal
-right to live, health, liberty, possessions & products of labour
-What happens when one person's rights infringe on another person's
rights?
,Aristotle's Virtue Based Ethics Ans✓✓✓Happiness is achieved by
developing virtues or qualities of character based on reasoning
-golden mean between extremes
Project Management Ans✓✓✓The art of directing and coordinating
human and material resources throughout the life of a project
-use modern management techniques to achieve goals
Mill's Utilitarianism Ans✓✓✓An action is ethically correct if it
produces a greater benefit for the greatest number of people.
-Who evaluates the benefits?
Project Ans✓✓✓A temporary endeavour undertaken to create a unique
product, service, or results.
-One time thing
-Established life span
-Specific time, cost, performance requirement
Main factors for project success Ans✓✓✓-identify stakeholders -
Stakeholders expectations known
-senior management support -clearly stated purpose
-goal oriented culture -technically competent team
-effective & committed team -excellent communication
-trust
, Stakeholders Ans✓✓✓Individuals/organizations who have something to
be gained should the project succeed and lost if the project fails
Program Ans✓✓✓-series of coordinated, related, multiple projects
Interfering Float Ans✓✓✓Total Float - Free Float
amount of total float that interferes with the following activities
Kan't Duty Based Ethics Ans✓✓✓Each person has a duty to follow
those courses of action that would be considered universal principle
(don't lie, don't kill)
-what if the lie saves someone's life?
Benefits of portfolio management Ans✓✓✓-builds discipline -Links
project selection to strategic metrics -Prioritizes project proposal -
allocates resources to projects strategically -Balances risk across projects
-Justifies killing projects that aren't supportive -Improves
communication
Four Activities of strategic management process Ans✓✓✓1) Review
and define the mission
2) Set long range goals and objectives
