BUS 395 Final Exam Questions With Verified Answers

Project Schedule Management - Answer the processes we have to perform to ensure timely completion of the project (has 7 processes) 7 Project time management processes - Answer 1. Planning schedule management 2. Defining activities 3. Sequencing activities 4. Estimating activity resources 5. Estimating activity durations 6. Developing the schedule 7. Controlling the schedule What is the main output of planning schedule management? - Answer Schedule management plan Elements of a schedule management plan - Answer - Project schedule model development - Scheduling methodology - Level of accuracy and units of measure - Rules of performance measurement - Reporting formats - Process descriptions Defining activities involves - Answer identifying the specific actions that will produce the project deliverables in enough detail to determine resource and schedule estimates Outputs of defining activities - Answer activity list, activity attributes, list of milestones Activity list - Answer a tabulation of activities to be included on a project schedule (activity name, identifier or number, brief description) Activity attributes - Answer provide more information A milestone - Answer is a significant event that normally has no duration Sequencing activities. Sequencing process involves - Answer evaluating the reasons for dependencies (relationships) and the different types of dependencies (relationships) A dependency or relationship is the sequencing of project activities or tasks - Answer Mandatory dependencies Discretionary dependencies External dependencies Mandatory dependencies - Answer inherent in the nature of the work being performed on a project, sometimes referred to as hard logic. We can't start working on B until we finish activity A discretionary dependencies - Answer defined by the project team., sometimes referred to as soft logic and should be used with care since they may limit later scheduling options. Can perform either A or B independently, or have a sequence, determined by team members external dependencies - Answer involve relationships between project and non-project activities. A (project activity), B (non-project activity), we can't start working on A unless B is done by external parties Network diagrams - Answer graphical presentation that shows you all the relationships between the project activities and the sequence of the activities. The most widely used and preferred technique for showing activity sequencing. Two main formats of network diagrams: - Answer arrow and precedence diagramming methods Arrow diagramming method (ADM) - Answer - activities are represented by arrows - nodes or circles are the starting and ending points of activities - only show finish-to-start dependencies Precedence diagramming method (PDM) - Answer A network diagramming technique in which boxes represent activities Types of dependencies or relationships between activities - Answer 1. Finish-to-start: Task B cannot start until Task A finishes 2. Start-to-start: B cannot start until task A starts 3. Finish-to-finish: B cannot finish until A finishes 4. Start-to-finish: B cannot finish until task A starts Duration includes - Answer The actual amount of time worked on an activity plus elapsed time. Effort is the number of workdays or work hours required to complete a task and does not equal duration. A three-point estimate is an - Answer estimate that includes an optimistic, most likely, and pessimistic estimate Developing the schedule - Answer uses results of the other time management processes to determine the start and end date of the project Ultimate goal of developing the schedule - Answer is to create a realistic project schedule that provides a basis for monitoring project process for the time dimension of the project Important tools and techniques for developing the schedule - Answer 1. Gantt charts 2. Critical path analysis 3. Critical chain scheduling 4. PERT analysis Gantt charts (very common) - Answer provide a standard format for displaying project schedule information by listing project activities and corresponding start and finish dates in a calendar form Gantt chart symbols - Answer - black diamond: milestones (an activity with 0 durations) - thick black bars: summary tasks - light gray horizontal bars: duration of tasks - arrows: dependencies between tasks SMART criteria for milestones - Answer Specific, Measurable, Achievable/Assignable, Realistic, Time-framed Gantt Chart Disadvantages - Answer don't show the relationship between the activities critical path method (CPM) - Answer network diagramming technique used to predict total project duration. Critical path - Answer The series of activities that determine the earliest time by which the project can be completed; it is the longest path through the network diagram and has the least amount of slack or float. Slack or float - Answer amount of time an activity may be delayed without delaying a succeeding activity or the project finish date calculating the critical path - Answer develop a good network diagram and add the duration estimates for all activities on each path through the network diagram. Longest path is the critical path. Critical path misconceptions - Answer 1. the fact that its name includes the word critical doesn't mean that it includes all critical activities (only account for time) 2. there can be more than one critical path if the lengths of two or more paths are the same 3. critical path can change as the project progresses Using critical path analysis - Answer 1. free slack or free float: amount of time an activity can be delayed without delaying the early start of any immediately following activities 2. Total slack or total float: amount of time an activity may be delayed from its early start without delaying the planned project finish date 3. forward pass: determines the early start and finish dates 4. backward pass: determines the late start and finish dates using the critical path to shorten a project schedule - Answer main techniques: 1. shortening durations of critical activities/tasks by adding more resources or changing their scope 2. crashing activities by obtaining the greatest amount of schedule compression for the least incremental cost 3. fast tracking activities by doing them in parallel or overlapping them importance of updating the critical path data - Answer it is important to update the schedule with actual data - note actual activity durations as they are completed - revise estimates for activities in progress - monitor changes to make informed decisions critical chain scheduling - Answer considers limited resources when creating a project schedule and includes buffers to protect the project completion date Additional concepts - Answer - buffer: additional time to complete a task - project buffer: additional time added before the project's due date - feeding buffers: additional time added before tasks on the critical path Program Evaluation and Review Technique (PERT) - Answer a network analysis technique used to estimate project duration when there is a high degree of uncertainty about the individual activity duration estimates. - uses probabilistic time estimates: duration estimates based on using optimistic, most likely, and pessimistic estimates of activity durations controlling the schedule. goals of schedule control: - Answer - know the status of the schedule - influence the factors that cause schedule changes - determine that the schedule has changed - manage changes when they occur main inputs to schedule control: - Answer - project management plan - project documents - work performance data - organizational process assets