Man 4583 Study guides, Class notes & Summaries

What is a project? - Temporary endeavor: beginning and end Creates a unique product Not a continuous operation! What is a project manager? - Assigned to achieve project objectives Leads project team Organizes project resources Can manage project at varying levels of complexity Can manage projects in different industries What are stakeholders? - persons or organizations actively involved in the project have interests that may be positively or negatively affected may influence the p...

What is an uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives? - Risk What are the 3 steps in understanding risks? - 1. Hold a brainstorming session 2. Industry specific risk categories 3. Look at WBS and identify risks by tasks or group of tasks What are the four ways to manage project risk? - Develop a risk management plan 1. Identify risks 2. Perform qualitative & quantitative risk analysis 3. Risk response plans 4. Risk regist...

What is a Project Network - A flow chart that graphically depicts the sequence, interdependencies, and start and finish times of the project job plan of activities that is the critical path through the network. What are some of the things to be considered in the critical path? - scheduling labor and equipment communication project's duration budgeting cash flow Identifies critical activities What is an activity? - An element of the project that requires time. What is a merge activi...

What constitutes a project? - - Temporary endeavor - Beginning and end - Creates unique product - Not continuous operation - Budget Project Manager - - Assigned to achieve projects objectives - Leads projects team - Organizes projects resources - Planning/ overseeing project in its entirety - COMMUNICATING - Authorization given through project charter Simple Project Life Cycle/ Knowledge Areas of Process Groups - Initiating, planning, executing, monitoring/controlling, closing ...

What is an uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives? - Risk What are the 3 steps in understanding risks? - 1. Hold a brainstorming session 2. Industry specific risk categories 3. Look at WBS and identify risks by tasks or group of tasks What are the four ways to manage project risk? - Develop a risk management plan 1. Identify risks 2. Perform qualitative & quantitative risk analysis 3. Risk response plans 4. Risk regist...

Which of the following represents an activity on an AON project network? - A node When translated into a project network, a work package will become - one or more activities Which of the following is provided by both the project network and the work breakdown structure? - activity duration On a project network, the activity times are derived from the - work package An activity that has more than one dependency arrow flowing into it is termed a - merge activity Which of the followi...

MAN 4583 EXAM 2 2024 WITH 100% CORRECT ANSWERS Which of the following represents an activity on an AON project network? - correct answer A node When translated into a project network, a work package will become - correct answer one or more activities Which of the following is provided by both the project network and the work breakdown structure? - correct answer activity duration On a project network, the activity times are derived from the - correct answer work package An activ...

MAN 4583 Exam 1 - Baz UCF Questions and Answers Already Passed MODULE 1 What constitutes a project? What is a project? • Temporary endeavor: beginning and end • Creates a unique product • Not a continuous operation! A project is a unique endeavor that has a specific goal, a beginning and an end, and usually a budget. Distinguish between projects and operations: A project is any that produces a specific end result and is temporary; always have a beginning and an end. An Oper...

MAN 4583 Final Exam UCF Questions and Answers Already Passed What is an uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives? Risk What are the 3 steps in understanding risks? 1. Hold a brainstorming session 2. Industry specific risk categories 3. Look at WBS and identify risks by tasks or group of tasks What are the four ways to manage project risk? Develop a risk management plan 1. Identify risks 2. Perform qualitative & quan...