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CMPM FINAL TERM > PLANNING AND SCHEDULING > Flashcards

PLANNING AND SCHEDULING Flashcards

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1
Q

is the process of IDENTIFYING all the activities necessary to successfully complete the project.

A

Project Planning

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2
Q

in general, can best be described as the function of SELECTING the enterprise OBJECTIVES and establishing the POLICIES, PROCEDURES, and PROGRAMS necessary for achieving them

A

Planning

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3
Q

is the process of DETERMINING the sequential order of the planned activities, assigning realistic durations to each activity, and determining the start and finish dates for each activity.

A

Project Scheduling

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4
Q

Desired Results of Project Planning and Scheduling

A
  1. Finish the Project on Time
  2. Continuous flow of work
  3. Reduced amount of rework

/4. Minimize Confusion and Misunderstandings

  1. Knowledge of scheduled times of key parts of the projects (critical)
  2. Meaning and timely report
  3. Run the project instead of the project running you
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5
Q

Key Principles of Planning and Planning and Scheduling

A
  1. Begin before starting work
  2. Involve people who will actually do the work
  3. Include all aspects of the project
  4. Build flexibility into the plan
  5. Remember schedule is not precisely correct
  6. Keep the plan simple
  7. Communicate plan to all parties ; any plan is worthless unless it is known!
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6
Q

is a document that provides the REASONING WHY A PROJECT SHOULD BE INITIATED. Historically, ____________ were small documents or presentations and the decision to initiate the project was based upon the rank of the person making the request.

A

business case

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7
Q

This identifies the gap that currently exists and the need for the investment

A

Business need in business case

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8
Q

this identifies how the project is linked to strategic business objectives

A

opportunity options in business case

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9
Q

this identifies the value/benefits that can be obtained whether they are cost savings, additional profits, or opportunities

A

benefit realization plan in business case

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10
Q

The_______________ is a financial metric used in cost-benefit analysis to assess the viability of a project by comparing the present value of its benefits to the present value of its costs

A

Benefit-Cost Ratio (BCR)

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11
Q

This identifies the financial and nonfinancial metrics that will be used to track the performance of the project

A

Project Metrics in Business Case

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12
Q

This identifies the cancellation criteria to be used to cancel the project if necessary

A

Exit Strategies in Business Case

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13
Q

This identifies the human and nonhuman resources needed

A

Resources needed in Business case

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14
Q

This identifies the major milestone for the project

A

Timing in Business Case

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14
Q

Why might a change in executive leadership affect the success of a project?

A

Because new leaders may not understand the project’s benefits, may not be as committed, or may prioritize other projects they see as more important.

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15
Q

How can changes in assumptions impact a project’s expected benefits over time?

A

If assumptions change and are not tracked, the project may no longer align with the expected benefits, potentially reducing its effectiveness or relevance.

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16
Q

Why is it important to track metrics related to assumptions throughout a project’s duration?

A

To ensure that any changes in assumptions still support the project’s original goals and expected benefits.

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17
Q

What types of market conditions can lead to changes in project constraints?

A

Changes in the markets served, consumer behavior, or risks can lead to changes in project constraints.

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18
Q

How can companies respond to changes in constraints such as cash flow or consumer behavior?

A

By approving scope changes to seize new opportunities or reducing funding to align with new financial limitations.

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19
Q

What are the 4 main factors that can induce changes in the business case or benefits realization plan?

A

Changes in executive leader, changes in assumptions, changes in constraints, and changes in resource availability

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20
Q

Planning begins with an understanding of the _________, constraints, and ___________.

A

requirements, assumptions

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21
Q

Project planning is based upon the expectation that future results can be extrapolated from _________________. If experience is lacking or if extrapolation will generate misleading information, then __________ must be made to predict future outcomes.

A

past experiences, assumptions

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22
Q

“The interest rate will remain stable over the next year.”

A

Enterprise Environmental Assumption:

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23
Q

Skilled developers will be available when we start development.

A

Organizational Assumption

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24
List three examples of Enterprise Environmental Factors.
Interest rates, market conditions, and government policies.
25
What are Organizational Process Assets (OPAs)?
OPAs are assumptions about present and future company assets that can impact the success of a project.
26
Give three examples of Organizational Process Assets.
Project management methodology, templates and checklists, and skill level of resources.
27
How do Enterprise Environmental Factors differ from Organizational Process Assets?
EEFs are external conditions affecting the project, while OPAs are internal resources and tools within the organization
28
are clearly stated or communicated. They are directly expressed in writing or speech and leave little room for interpretation.
Explicit assumptions
29
are unstated or implied. They are taken for granted without being openly acknowledged, and may require inference.
Implicit assumptions
30
Why is documenting assumptions important in a project?
It is important to track changes and understand the evolving context and risks in a project.
31
What might happen if the cost of borrowing money changes during a project?
It could affect the project’s financial feasibility or lead to budget overruns.
32
What characteristics should project objectives have?
Objectives should be specific, measurable, attainable, action-oriented, realistic, and bound by time.
33
Why are clearly written and well-understood objectives important in a project?
They help the project team know when the project is completed.
34
What issue is mentioned regarding the timing of assigning the project manager?
Project managers are often assigned too late to participate in establishing the objectives.
35
What is the problem with imposing objectives on project managers?
It prevents them from contributing to the development of the objectives, which can affect project clarity and ownership.
36
it is a goal, target, or quota to be achieved by a certain time
objective
37
A plan sowing when individual or group activities or accomplishments will be started and/or completed
schedule
38
planned expenditures required to achieve or exceed objectives
budget
39
a projection of what will happen by a certain time
forecast
40
design of the number and kinds of positions, along with the corresponding duties and responsibilities, required to achieve or exceed objectives
organization
41
a general guide for decision making and individual actions
policy
42
In planning a project, the project manager must structure the work into small elements that are:
- manageable -independent -Integratable -measurable
43
A __________________________ is a product-oriented family tree subdivision of the hardware, services, and data required to produce the end product.
work breakdown structure (WBS)
44
What are the components of a Project Work Plan
Directory Tasks Schedule Budget Measurement
45
What are the two Network Planning Techniques:
Program Evaluation and Review Technique (PERT) and ( Critical Path Method) CPM
46
Developed to manage the Polaris missile project
Program Evaluation and Review Technique (PERT)
47
Many tasks pushed the boundaries of science and engineering (task's duration = probabilistic)
Program Evaluation and Review Technique
48
Developed to coordinate projects in the chemical industry
Critical Path Method
49
A complex undertaking, but individual tasks are routine (task's duration = deterministic)
Critical Path Method
50
was developed by Du Pont and the emphasis was on the trade-off between the cost of the project and its overall completion time (e.g. for certain activities it may be possible to decrease their completion times by spending more money - how does this affect the overall completion time of the project?) (crash)
CPM
51
was developed by the US Navy for the planning and control of the Polaris missile program and the emphasis was on completing the program in the shortest possible time. In addition _______had the ability to cope with uncertain activity completion times (e.g. for a particular activity the MOST LIKELY completion time is 4 weeks but it could be anywhere between 3 weeks and 8 weeks).
PERT
52
activities are shown as a network of precedence relationships using activity-on-node network construction
CPM
53
for the jobs of REPETITIVE in nature where the activity time estimates can be predicted with considerable certainty due to the existence of past experience.
CPM used in Production Management
54
activities are shown as a network of precedence relationships using activity-on-arrow network construction Multiple time estimates Probabilistic activity times
PERT
55
for non-repetitive jobs (research and development work), where the time and cost estimates tend to be quite uncertain. This technique uses probabilistic time estimates.
PERT used in Project Management
56
_______prioritizes minimizing project duration, while _____ focuses on cost optimization by identifying critical paths and slack.
PERT, CPM
57
____________ are quite commonly used. They provide an easy graphical representation of when activities (might) take place.
Gantt Chart
58
These deficiencies can be eliminated to a large extent by showing the INTERDEPENDENCE of various activities by means of connecting arrows called network technique.
PERT-CPM
59
a time consuming effort that is required to perform a part of the work.
ACTIVITY
60
Indicate EVENT, a point in time where one or more activities start and/or finish
Node
61
The amount of time an activity may be delayed without delaying the completion of the project
Total Float (TF)
62
The amount of time an activity may be delayed without delaying the early start time of the immediately following the activity.
Free Float ( FF)
63

CMPM FINAL TERM (4 decks)

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