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Project Management
Test #2
121
Engineering
Undergraduate 4
04/27/2011

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Term
ADV OF NETWORK SCHEDULING
Definition
-consistent framework
*shows interdependences
*shows when resources are needed
*ensures proper communication
*determines expected completion date
*i.d.'s critical activities
*shows what activites can be delayed
*determines start dates
*shows which tasks must be coordinated
*shows which tasks run in parallel
*relieves some conflict
*allow probabilistic estimates
Term
network scheduling techniques
Definition
*developed 58-59 for the Polaris missile/sub project
*at first CPM used deterministic while PERT used probabilistic
*Microsoft project blended them together
Term
activity
Definition
a specific task or set of tasks that are required by the project, use up resources, and take time to complete
Term
event
Definition
the result of completing one or more activites
Term
network
Definition
the combo of all activites and events that define a project (drawn left to right, connections represent predecessors)
Term
path
Definition
a series of connected activities
Term
adv/disadv of gantt chart
Definition
*easily understood
*provide a picture of the current state of a project


*difficult to follow w complex projects
Term
the most common approach to project scheduling is the use of network technique
Definition
PERT and CPM
Term
In AOA, dotted line arrows depict
Definition
dummy activities
Term
project's master schedule contains only major tasks and is oriented toward
Definition
overall PM rather than precise control of detailed work
Term
the critical time of the network is the ______ time in which the entire network can be completed
Definition
shortest
Term
A schedule is the conversion of a _____ into an operating time table
Definition
porject action plan
Term
it is good practice to create a schedule for every _____ in the WBS that will cover the work packages
Definition
major task level
Term
An ____ is the result of completing one or more activities
Definition
event
Term
the calculation of the st dev for the ____ dist is based on the assumption that the distribution's range is approx equal to six standard deviations
Definition
beta
Term
while performing a forward pass calculation to determine the CP of a network when multiple paths converge into a successor activity, the value carried forward is the
Definition
largest early finish
Term
while performing a backward pass calc for a network when multiple paths converge into a predecessor activity, the value carried backward is the
Definition
smallest late start
Term
the probabiity of completing the project on time
Definition
Z
Term
t/f: the critical activities in real-world projects typically constitute no less than 25% of the total activities in the project
Definition
false, typically constitute less than 10%
Term
dummy activity
Definition
an activity that doesn't have a duration and does not use resources
Term
milestones
Definition
do not have a duration
Term
free slack
Definition
as the time an activity can be delayed without affecting the start time of any successor activity
Term
parkinson's law
Definition
work expands to fill the allotted time
Term
ch 9
Definition
Term
crashing a project
Definition
*time and cost are interrelated
*the faster an activity is completed, the more it costs
*change the schedule and you change the budget
*thus many activities can be speeded up by spending more money
Term
crashing/crunching
Definition
*to speed up a project
*resources must be available
*all activity schedules are changed
*impact schedules for all subcontractors
*often produces unanticipated problems
Term
resource allocation problem
Definition
*CPM/PERT ignore resource utilization and availability
*may not be a problem with external resources
*schedules need to be evaluated in terms of both time and resources
Term
resource allocation
Definition
*manpower is more problematic but also applies to equipment and capital
*similar to capacity planning in productio management
Term
resource loading
Definition
*describes the amount of resources an existing schedule requires
*gives an understanding of the demands a project will make of a firm's resources
Term
resource leveling
Definition
*less hands on mgmt is required
*may be able to do JIT inventory
*improves morale
*fewer personnel problems
Term
resource leveling cont
Definition
*when an activity has slack, we can move that activity to shift its resource usage
*maybe possible to alter the sequence of activities to levelize resources
*small projects can be levelized by hand
*larger projects are levelized by software (w multple resources = very complex to levelize)
Term
heuristic approach
Definition
an approach, such as a rule of thumb, that yields a good solution that may or may not be optimal
Term
optimization approach
Definition
an approach such as linear programming that yields the ONE BEST solution
Term
heuristic methods
Definition
*the only feasible way on large projects
*CPM/PERT as baseline
*resources are moved based on one or more priority rules
*cant work forwards and backwards
Term
common priority rules
Definition
*as soon as possible
*as late as possible
*shortest task first
*most resources first
*min slack first
*most crtical followers
*most successors
*arbitrary
Term
optimization methods
Definition
*find the one best solution
*uses either linear programming or enumeration
*not all projects can be optimized
*approaches only work with small to medium projects
Term
multi-project scheduling and resource allocation
Definition
*one way is to consider each project as part of a much larger project
*must tell us if there are resources to tackle new projects we are considering
Term
standards to measure schedule effectiveness
Definition
*schedule slippage
*resource utilization
*in-process inventory
Term
schedule slippage
Definition
*the time past a project's due date when the project is completed
*may cause penalties
*expediting one project can cause others to slip
*taking on a new project can cause existing projects to slip
Term
resource utilization
Definition
*the percentage of a resource that is actually used
*we want a schedule that smoothes out the dips and peaks of resource utilization
*especially true of labor, where hiring and firing is expensive
Term
in-process inventory
Definition
*this is the amount of work waiting to be processed because there is a shortage of some resource
*similar to WIP in manufacturing
*the cost here is holding cost
Term
heuristic techniques
Definition
*multi-projects are too complex for optimization approaches
*many of the heuristics are extensions of the ones used for one project
Term
additional priority rules
Definition
*resource scheduling method
*min late finish time
*greatest resource demand
*greatest resource utilization
*most possible jobs
Term
goldratt's critical chain
Definition
1. optimism
2. capacity should be equal to demand
3. the "student syndrome"
4. multitasking to reduce idle time
5. assuming network complexity makes no difference
6. mgmt cutting time to "motivate" workers
7. game playing
8. early finishes not canceling out late finishes
Term
In CPM, two activity times and two ____ are specified
Definition
costs
Term
If deterministic time estimates are used and if project ____ are firm, there is a high likelihood that it will be necessary to crash the last few activities of most projects
Definition
deadlines
Term
this schedule compression technique expedites a project
Definition
fast-tracking
Term
the ________ approach to constrained resource scheduling probs is the only feasible method of attacking the large, nonlinear, complex problems that tend to occur in the real world of PM
Definition
heuristic
Term
The _____ heuristic provides a general solution for critical path and time. It is usually the default rule for a schedule.
Definition
as soon as possible
Term
the standard practice with PERT/CPM is to estimate activity times under the assumption of resource loadings that are
Definition
normal
Term
When using heuristic solution to schedule, _____ will always take precedence
Definition
technological necessities
Term
the usual purpose of the _____ scheduling heuristic is to delay cash outflows as long as possible
Definition
as late as possible
Term
a project task is said to be system constrained if it requires a fixed amount of ____ and known quantities of resources
Definition
time
Term
resource leveling aims to minimize the period-by-period variations in resource loading by shifting tasks within their
Definition
slack allowances
Term
t/f the formula for computing the cost/time slope for each activity that can be crashed is (crash cost-normal cost)/(crash time - normal time)
Definition
true
Term
ch 10
Definition
Term
monitoring
Definition
collecting, recording and reporting info concerning any and all aspects of project performance
Term
controlling
Definition
uses the data supplied by monitoring to bring actual performance into compliance with the plan
Term
evaluation
Definition
judgments regarding the quality and effectiveness of project performance
Term
P-M-C cycle
Definition
*must decide what is important enough to monitor
*want to monitor project performance, budget, and time
*must be operationalized meaning checked continuously or at milestones
Term
designing the monitoring system
Definition
*identify key factors to be controlled (performance, cost, time)
*info to be collected must be identified
*want to avoid collecting necessary data bc its hard to get
*dont collect too much data
*design a reporting system that gets the data to the proper ppl in a timely and understandable manner
Term
data collection
Definition
*frequency counts
*raw numbers
*subjective numeric ratings
*indicators
*verbal measures
Term
info needs and reporting
Definition
*project reports need to correspond to the schedule
*as work packages are finished, reports on those packages are no longer needed
*new work packages generate the need for new reports
*the nature of project reports changes over time
*reports should address each level (lower levels need detailed info and senior levels need overview reports)
Term
the reporting process
Definition
*reports must contain relevant data
*must be issued frequently
*should be available in time for control
Term
routine report type
Definition
reports that are issued on a regular basis or each time the project reaches a milestone
Term
exception report type
Definition
reports that are generated when an usual condition occur or as an informational vehicle when an unusual decision is made
Term
special analysis
Definition
reports that result from studies commissioned to look into unexpected problems
Term
meetings
Definition
*reports do not have to be written
*they can be delivered verbally in meetings
*projects have too many meetings
*the trick is to keep them to as few as possible
Term
meeting rules
Definition
*avoid regular status report meetings
*start and end on time
*have an agenda and stick to it
*publish the agenda early
*take minutes
Term
common reporting problems
Definition
*too much detail
*poor interface between the data/procedures of the project and the info system of the parent company
*poor connections between the planning process and the monitoring process
Term
earned value analysis
Definition
*earned value is an estimate of the percentage of work completed thus far
*can be difficult for a project
Term
cost variance
Definition
*negative variance indicates a cost overrun
*magnitude depends on the costs
Term
schedule variance
Definition
*negative variance indicates you are behind schedule
*measured using costs
Term
to complete and at completion
Definition
*project manager reviewing what is complete and what remains
*final cost and final completion date are moving targets
*the project manager compiles these into a complete forecast
*actual + forecast = final date and cost at completion
Term
milestone reporting
Definition
*reports that are created when a project reaches a major milestone
*they are designed to keep everyone up to date on project status
*for executives and clients, these may be the only reports they receive
Term
ch 11
Definition
Term
performance probs
Definition
*tech probs
*tech difficulties
*quality probs
*client wants changes
*inter-functional complications
*tech breakthroughs
*team conflict
*market changes
Term
cost
Definition
*may need more resources
*scope may increase
*bid was too low
*reporting was poor
*budget inadequate
*correction not in time
*input price changed
Term
time
Definition
*difficulties took long to solve
*initial estimates were optimistic
*sequencing was incorrect
*resources unavailable
*preceding tasks were incomplete
*change orders
*governmental regulations were altered
Term
project control
Definition
*the process of keeping the project on target and as close to plan as feasibly possible
*must have a plan first and must have a way of detecting when a project is off the target
Term
fundamental purposes of control
Definition
1. regulation of results
2. the stewardship of org assets
Term
physical asset control
Definition
*control over the use of physical assets
*includes preventive and corrective maintenance
*must also control inventory
Term
human resource control
Definition
*want to make sure people are used wisely
*employees need to be motivated to perform at their best
*PM may have to write performance appraisals
Term
financial resource control
Definition
*financial resource control is tied in with the other types of control
*similar to general control
*it is important the PM manage financial assets properly
*this is known as due diligence
Term
three types of control processes
Definition
1. cybernetic control
2. go/no-go control
3. post control
Term
cybernetic control
Definition
*a system is constantly monitored
*when a deviation is spotted, corrective action is take
*cybernetic controls are not common in projects
*negative feedback loop
Term
go/no-go controls
Definition
*testing to see if some present condition has been met
*most of p mgmt is go/no-go controls
*cannot be based on the calendar
*used at milestones, work package completion
*data to be collected will match the critical elements of the project plan
*actual is compared to what was expected in the plan
*regular reports given to the PM and senior mgmt
Term
phase-gated processes
Definition
*controls the project at various points throughout its life cycle
*most commonly used for new product/service development projects
*project must pass gate to continue funding
Term
post control
Definition
*these are controls that are applied after the fact
*their purpose is mainly for improving performance on future projects
*a final report is prepared comparing the plan with reality
*sometimes called "lessons learned"
Term
post control report sections
Definition
*the project objectives
*milestones, checkpoints, and budgets
*the final report on project results
*recommendations for performance and process improvement
Term
benchmarking
Definition
*promoting the benefits of project management
*personnel
*methodology
*results of project management
Term
control as a function of mgmt
Definition
*control is usually exercised through ppl
*also when monitoring flags a problem
*may come from any level of mgmt
*goal of control is to get the project back on track
Term
balance in a control system
Definition
*investment in control is subject to diminish returns
*too much control dampens innovation
*a control system should correct errors
*corrections should be the smallest needed
*it should minimize its impact on people
Term
common control system problems
Definition
1. placing too much weight on easy-to-measure factors
2. emphasizing the short-run at the expense of the long-run
3. ignoring changes to the environment or goals
4. over-control by top mgmt
5. "if it isn't measured, its not important"
Term
control of creative activities
Definition
*creativity is hard to control
*too much control will stifle creativity
*three general approaches of progress review, personnel reassignment, control of input resources
Term
control of change and scope creep
Definition
*controlling scope creep is the biggest problem that many project managers face
*scope creep is not always bad
*if they are not managed, they cause havoc with project schedules and budgets
Term
change guidelines
Definition
*all contracts specify how change will be handled
*any change requires a change order
*PM must be consulted
*must be approved in writing
*master plan should reflect changes
Term
ch 12
Definition
Term
project audit
Definition
*a formal review of any aspect of a project
*project "audits" are not limited to financial matters
*project audits may not be performed by accountants
Term
purpose of evaluation-goals of the system
Definition
*the main purpose of an audit is to help achieve the goals of the project
*a project audit is equivalent to the application of TQM to project management
Term
approach to project audit
Definition
*all facets of the project are studied
*the strengths and weaknesses are identified
*recommendations are prepared to help this and future projects
Term
indirect goals
Definition
*improve understanding by parent organization
*improve mgmt by parent org
*improve team effort on the project
*id strengths and weaknesses
*better id project risks
*all access by external stakeholders
*id way to improve the skills of project members
*id potential PMs
Term
probs with indirect goals
Definition
*difficult to hold ppl accountable for unstated goals
*difficult to separate indirect goals from personal goals
*lack of trust
*diff ideas ab the indirect goals
Term
the project audit
Definition
*current status of the project
*expected status of the project
*status of critical tasks
*an assessment of potential risks
*what lessons can be applied to other projects
*what are the limitations of the audit
Term
contraints
Definition
*need
*time
*money
*distracting
Term
audit timing
Definition
*all significant projects should be audited
*larger projects may be audited several times
*an audit may also be conducted after the project is over (post-project audits)
Term
construction and use of the audit report
Definition
*it should facilitate the comparison of actual vs predicted results
*significant deviations should be highlighted
*reasons for significant deviations should be given
*plans for resolving negative deviations should be discussed
Term
audit info
Definition
*intro
*current status
*future project status
*critical mgmt issues
*risk analysis
*caveats, limitation, and assumptions
Term
responsibilities of the project auditor
Definition
*be honest and ethical
*be independent
*tell the whole truth
*seek help for tech issues
Term
the project audit life cycle
Definition
*project audit initiation
*project baseline definition
*est an audit database
*preliminary analysis of the project
*audit report preparation
*project audit termination
Term
some essentials of a project audit
Definition
*need to select an audit team with experience and expertise
*auditors need access to top mgmt
*auditors need access to project personnel and others
*auditors need access to all records
Term
measurement
Definition
*many aspects are easy to measure
*performance against budget and schedule are usually straightforward
*measurement on projects that include a profit component is more difficult
Term
ch 13
Definition
Term
termination by extinction
Definition
*extinction occurs in any scenario where the project goes away
*when work on a project stops, some organizational work continues
Term
termination by addition
Definition
*applies to an in-house project
*when the project is successful, it is institutionalized
*while the project goes away, project personnel and assets are transferred to the new business
Term
termination by integration
Definition
*the most common way to terminate a project
*the project comes into the business (its absorbed into the existing structure)
*that structure absorbs the assets of the project
Term
termination by starvation
Definition
*involves greatly reducing the budget of a project
*used when it is politically dangerous to cancel a project
Term
when to terminate a project
Definition
*projects take on a life of their own
*it may be easy to terminate a project that is finished
*but it can be very difficult to terminate a project prior to its completion
Term
non-technical reasons for termination
Definition
*political
*cross-cultural
*senescence
Term
implementation process
Definition
*termination can be orderly or a "hatchet job"
*planning for an implementing an orderly shut down yields better results
*who leads the shut down project
*a special termination manager may be used
Term
the final report_ a project history
Definition
*project performance
*admin performance
*organizational structure
*project and admin teams
*techniques of project management
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