Chapter 8 Flashcards
(31 cards)
Project
A one off endeavour t achieve a specific objective
Repetitive operations
“business as usual” - The normal day to day operations of the business
Project Owner
The person for whom the project is being carried out and as such they are interest in the end result being achieved and their needs being met
Project manager
The leader of the project team, taking the ultimate responsibility for ensuring that the project meets its objective
Project team
Members are given individual responsibility for parts of the project, chosen by the project manager. Good to include internal staff and external specialists
Project customers/users
The end user, may or may not be the same party as the project owner
Steering Committee
Oversee the entire project
Scope Creep
changes, continuous or uncontrolled growth in a project’s scope, at any point after the project begins. This can occur when the scope of a project is not properly defined, documented, or controlled.
Project sponsor
The person or organisation who provides the resources
Project management
The term given to the processes undertaken to ensure that a project is completed on time, to budget and to the agreed quality standard
PMBOK
The project management institute published the body of knowledge guide - documents and standardises generally accepted project management information and processes
Earliest event time
The earliest time an activity can be completed by - determine the longest path up to the event and determine the minimum time that we can reach this point
Latest event time
The latest time any preceding activity must be completed by if the project is to be finished by its required completion date
Critical path
Activities in which any delay will lead to a delay in the overall project are for which EET = LET. It is the longest path through the network and the shortest time to complete the project
Total Float
The time available to an activity less the activity duration i.e. End LET - Start EET
Free float
The delay possible in an activity on the assumption that all preceding and subsequent activities start as early as possible i.e. End EET - duration
Independent float
The delay possible if all preceding activities have finished as late as possible and all succeeding activities are to start as early as possible i.e. End EET - Start EET - duration
EVM
A means of measuring the progress of a project by comparing performance on costs and time and thus identifying overruns/slippage. Provides an early warning signal
Common measure of EVM
The cumulative cost performance index (CPI) - the earned value to date/cost to date.
Buffering
Involves the inclusion of defined quantities to time within a project schedule to ensure the overall deliver date is met (building in slack to account for risky tasks)
Padding
The adding of additional time to estimates to provide slack, distorting plans and leading to inefficient allocation of resources
Feeding buffer
May be added to noncritical tasks that feed into critical tasks
Capacity buffer
May be used in a multi-project programme to reduce the likelihood of a project being adversely affected by resource usage by another project
Resource buffer
May be added to key resources to ensure that they are available when required
