CH15 - Project Management

Question 1

Project Initiation

Answer 1

Pre-initiating tasks

• > set objectives
• > select project manager
• > identify the project

Initiation tasks:

• > preparation of a business case
• > project initiation document

Question 2

Project benefits

Answer 2

Measuring benefits:

• observable
• measurable
• quantifiable
• financial

Question 3

Identifying project costs

Answer 3

• capital expenditure

- operating costs

Question 4

Cost-benefit evaluation

Answer 4

• accounting rate of return
• payback period
• IRR
• NPV

Question 5

Project execution and controls - Gateways

Answer 5

GATEWAYS - project review points
The point that certain criteria must be met before the project can pass through the gateway and proceed to the next stage

Question 6

Project execution and controls - Progress tests

Answer 6

PROGRESS TESTS - show the current status of the project, usually in relation to planned status

Question 7

Project execution and controls - Project slippage

Answer 7

PROJECT SLIPPAGE - occurs when a project is running behind schedule

• addressing slippage
• fast-tracking
• crashing

Question 8

Responding to project risk

Answer 8

TARA

• transference
• avoidance
• reduction
• acceptance

Question 9

Project completion - completion report

Answer 9

summarises the results of the project and includes client sign-off

Question 10

Project completion - the post-project review

Answer 10

a formal review of the project that examines the lessons learned and used for the benefit for future projects

Question 11

Project completion - the post-implementation review

Answer 11

are assessments of the completed working solution