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MGMT 430- EXAM 2
Terms in this set (60)
a document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with authority to apply organizational resources to project activities
a person or group who provides resources and support for the project or program and is accountable for enabling success.
the point in time at which the start or completion of the project or a project phase is authorized
project charter elements
purpose, objectives, overview, schedules, resources, personnel, risk management plans, & evaluation methods
short summary for senior managers and anyone unfamiliar with he project. Entails a statement of general goals and their relationship to firm's objectives.
contains a detailed statement of the general goals, what constitutes success, and how the project will be terminated
this section describes both the managerial and the technical approaches to the work (big picture)
outlines the various schedules and lists all the milestone events and/or phase-gates. summary tasks are listed with estimated times
the 3 main aspects to this section include the budget, a complete list and description of contractual items, and the cost monitoring and control procedures
this section identifies the expected personnel requirements of the project, particularly the PM and the sponsor/approver of the project( also special skills)
risk management plans
this covers potential problems and potential lucky breaks that could affect the project as well al plans to deal with the un/favorable contingencies
This section ought to incorporate a brief description of the procedures to be followed in the monitoring, collecting, storing, auditing, and evaluating the project, as well as in the post-project (i.e., "lessons learned") evaluation that follows project termination.
project management plan
the document that describes how a project will be executed, monitored, and controlled (may be altered when a change request is approved)
project scope management
Includes those processes required to ensure that a project includes all the work required, and only the work required, to complete the project successfully...primarily concerned with defining and controlling what is and is not included in a project
Work Breakdown Schedule (WBS)
hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish project objectives and create the required deliverables
-most critical element in good scheduling & budgeting
continue to break down work packages for the next planning horizon until it has no less than 8 hours of effort and not more than 80 hours of effort (2 weeks)
A common type of responsibility matrix that uses responsible, accountable, consult, and inform statuses to define involvement of stakeholders in project activities
process of analyzing activity sequences, durations, resource requirements, & schedule constraints to create the project schedule model
precedence diagramming method (PDM)
technique used for constructing a schedule model in which the activities are represented by nodes and graphically linked by one or more logical relationships
an activity that logically comes before a dependent activity in a schedule
a dependent activity that logically comes after another activity in a schedule
may have a successor but no predecessor, may have predecessor but no successor, may have both predecessor and successor
A logical relationship in which a successor activity cannot start until a predecessor activity has finished.
A logical relationship in which a successor activity cannot finish until a predecessor activity has finished.
A logical relationship in which a successor activity cannot start until a predecessor activity has started.
A logical relationship in which a successor activity cannot finish until a predecessor activity has started.
amount of time whereby a successor activity can be advanced with respect to a predecessor activity
amount of time whereby a successor activity will be delayed with respect to a predecessor activity
Program Evaluation and Review Technique (PERT)
A technique for estimating that applies a weighted average of optimistic, pessimistic, and most likely estimates when there is uncertainty with the individual activity estimates.
critical path method
A method used to estimate the minimum project duration and determine the amount of scheduling flexibility on the logical network paths within the schedule model
the sequence of activities that represents the longest path through the project, which determines the shortest possible duration
earliest possible point in time when the uncompleted portions of a schedule activity can start (ES). upper left of each node in AON network
earliest possible point in time when the uncompleted portions of a schedule activity can finish (EF). upper right of each node in AON network
measured by the amount of time a schedule activity can be delayed or extended without negatively affecting other scheduling constraints (slack)
latest possible point in time in which the uncompleted portions of a schedule activity can start (LS). lower left of each node in AON network
latest possible point in time in which the uncompleted portion of a schedule activity can finish (EF). lower right of each node in AON network
amount of time a schedule activity can be delayed without delaying the ES date of a successor
A technique used to shorten the schedule duration for the least incremental cost by adding resources (approving overtime, add resources)
technique in which activities or phases that are normally done in sequence are performed in parallel for at least a portion of their duration.
most useful methods presenting project schedule information.
show planned & actual progress for a number of tasks displayed as bars against horizontal time scale.
advantages of gantt charts
effective & easy to read method indicating the actual current status for each set of tasks compared to the planned progress for each item of the set.
helpful in expediting, sequencing, & reallocating resources among tasks
highlight items of special concern to the situation being charted.
requires frequent updating, easy to maintain as long as task requirements are not changed
Skilled human resources (specific disciplines either individually or in crews or teams), equipment, services, supplies, commodities, material, budgets, or funds.
a constraint in PM, can't be inventoried. Can spend more or less of it
types of resources
People, materials, equipment...drawn on to accomplish something
human resources are classified by the skills they bring to the project
includes a large spectrum
usually presented by type, size, & quantity
individual types of labor, kinds of materials, specific facilities, pieces of equipment, & all inputs relevant to a project but limited in availability
the project must be finished by a certain time, using as few resources as possible. Time, not resource usage that it most critical
the project must be finished as soon as possible, but not exceeding some specific level of resource usage or some general resource constraint (resource focus)
resources are added to ensure project is completed on time (resource allocation)
restricted resources cause project delays (minimize the delays via heuristics)
System- Constrained Task
-requires fixed amount of time & known quantities of resources
-trade-offs not possible
-make sure that required resources are available when needed.
defines the amounts of individual resources a schedule requires during specific time periods. gives a general understanding of the resource demands.
identifies the working days and shifts on which each specific resource is available. specifies when and how long the identified project resources will be available.
a technique in which start and finish dates are adjusted based on resource constraints with the goal of balancing demand for resources with the available supply(caused original critical path to increase)
balances demand for particular resources
technique that adjusts activities of a schedule model where requirements for resources on a project do not exceed certain predefined resource limits.
-critical path not changed & completion date may not be delayed
any approach to problem solving, learning, or discovery that employs a practical method not guaranteed to be optimal or perfect, but sufficient for the immediate goals
minimum slack first
the heuristic orders activities by the amount of slack, least slack going first. Common to break ties by using the shortest-task-first rule.
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