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Questions and Answers of Project Management

The following information (in AOA format) concerns progress at day 40 of an Internet marketing project. Determine if the project is in control based on time and cost to date. If not, what is the cost
Give some examples of ancillary project objectives.LO3
When should an audit be conducted during a project? Is there a “best” time?LO3
What occurs in each stage of the audit life cycle?LO3
What items should be included in the audit status report?LO3
What access is required for an accurate audit?LO3
Why is measurement a particular problem in auditing?LO3
What is a “baseline”?LO3
What is the purpose of a risk analysis?LO3
What are the essential conditions of a credible audit?LO3
In a typical project, do you feel frequent brief evaluations or periodic major evaluations are better in establishing control? Why?LO3
Do you think that project evaluations cost-justify themselves?LO3
What steps can be taken to ease the perceived threat to team members of an external evaluation?LO3
What feedback, if any, should the project team get from the evaluation?LO3
During the project audit, a tremendous amount of time can be wasted if a systematic method of information handling is not adopted. Briefly explain how this systematic method may be developed.LO3
“Evaluation of a project is another means of project control.”Comment.LO3
Why is it better to rely on several sources of information than just a few?LO3
What could be some advantages and disadvantages of the following sources of information: (a) charts, (b) written reports, and (c) firsthand observation?LO3
Why is it important to use outside auditors rather than inside auditors who would be more familiar with the company and the project?LO3
What kinds of reports might be sent to funders?LO3
What would you identify as the ethical responsibilities of an auditor?LO3
Given the great variety of items for an auditor to evaluate, what should the PM do given that the project evaluation basis was clearly laid out in the project plan? What about ancillary goals?LO3
List and briefly describe the ways projects may be closed.LO2
What problems may occur if the PM does not have a follow-on project when the current project nears closeout?LO2
What are the primary duties of a closure manager?LO2
Upon closure of a project, what happens to the information gathered throughout the course of the project?LO2
What is a budget decrement?LO2
Identify the four reasons for project closure.LO2
What does the Project Final Report include?LO2
What factors are considered most important in the decision to close a project?LO2
What issues should be considered when using the closureby-integration method?LO2
What are the tasks involved for the PO when attempting to obtain the benefits desired from the project?LO2
How can the PO overcome employee “resistance?”LO2
Discuss the impact, both positive and negative, of closure on the project team members. How might the negative impact be lessened?LO2
If the actual closure of a project becomes a project in itself, what are the characteristics of this project? How is it different from other projects?LO2
Discuss some reasons why a Project Final Report, when completed, should be permanently retained by the firm.LO2
What elements of the closure process may be responsible for making a project unsuccessful?LO2
What are some characteristics of a good closure manager?LO2
How might one choose which closure method to use?LO2
Why might a failing project not be closed?LO2
How can shutdown for reasons other than achievement of project goals be avoided?LO2
What must the PM do in planning, scheduling, monitoring, and closing out the project?LO2
Which of the four major types of closures are Political?Cross-Cultural? Senescence?LO2
Would you suspect that most projects are closed for “nontechnical”reasons? Why or why not?LO2
How would you decide when the benefits have been “permanently”achieved in the Routine phase?LO2
If the functional manager is lukewarm on the change involved with the project, what would you do to help get him or her on board?LO2
Given the following information, calculate the CRs, and indicate which activities are on target and which need to be investigated.Comment on the situation for each of the activities. LO4 Actual
Calculate the CRs for the following activities and indicate which activities are probably on target and which need to be investigated. Comment on each activity. LO4 Actual Activity Progress
Given the following information about a showroom renovation, which activities are on time, which are early, and which are behind schedule? LO4 Budgeted Actual Critical Activity Cost Cost Ratio A:
Design and plot a CR for a computer installation project that had planned constant, linear progress from 0 to an EV of 200 over a 100-day duration. In fact, progress for the first 20 days has been:
Design and plot a CR for a website project that has planned constant, linear spending from 0 to a total of 1000 over a 100-day duration. In fact, daily spending for the first 15 days has been: 11,
Industrial Building, Inc., has two project teams installing virtually identical, four-story commercial buildings for a funder in two separate cities. Both projects have a planned daily cost of 100
Samson Building, Ltd., is also constructing an identical building for the same funder as in Exercise 6 and has the following EVs and costs for the first 6 days: EV: 90, 88, 95, 101, 89, 105; Cost:
Determine if the following test marketing project at week 6 is in control. If not, what is out of control? If it is in control, are both budget and schedule in control? LO4 Dura- Prede- tion Budget,
At week 24 of a project to shoot a television commercial, the PM is worried about her budget since costs have risen to$7,500. Is there a cost overage? If so, how much is it? Is the schedule ahead or
Consider the following network for conducting a 2-week(10 working days) computer training class:a. Construct a schedule showing:ESs for all activities LSs for all activities Slacks for all activities
Is partial crashing an appropriate assumption in this kind of project?4. Given the following highway rerouting project,a. Draw the network.b. Find the ESs, LSs, and slacks.c. Find the critical
The following data were obtained from a study of the times required to conduct a consumer test panel study:a. Find the all-normal schedule and cost.b. Find the all-crash schedule and cost.c. Find the
Given the data in Exercise 7, determine the first activities to be crashed by the following priority rules:LO9a. Shortest task firstb. Most resources first (use normal cost as the basis)c. Minimum
Consider the project network below. Suppose the duration of both activities A and D can be reduced to 1 day, at a cost of $15 per day of reduction. Also, activities E, G, and H can be reduced in
Given a network for an HR training project with normal times and crash times (in parentheses), find the cost-duration history. Assume indirect costs for facilities and equipment are $100 per day. The
Reconsider Exercise 2, assuming a fixed overhead cost of$30 per day but no project deadline. What is the least-cost crash program? What if the overhead cost was $40? What if it was $60? LO9
A simulation model was developed in Section 9.6 to illustrate the problem with assuming activity times were known with certainty. However, in the simulation analysis, the activity times were assumed
In Section 9.6 the consequences of not reporting early completion times were discussed. Modify the simulation model you created for Exercise 16 so that early completion of the tasks before the
Define monitoring. Are there any additional activities that should be part of the monitoring function? LO6
Identify the key factors that need to be considered when setting up a monitoring system. LO6
List some factors that would be difficult to monitor. LO6
Describe routine reports and some problems with them. LO6
What are the primary difficulties experienced in the design of project reports? LO6
Describe the three variances of an EV chart and explain their significance. LO6
Can you identify other symptoms of computer misuse besides those in Section 10.4? LO6
What is the purpose of “earned value”? How would the progress of the project as a whole be calculated? LO6
Describe the various ways that EV can be found. LO6
Discuss the benefits of timely, appropriate, detailed information.How can a value be assigned to these characteristics? LO6
What are the advantages for a PM of having a computerized system over a manual one? The disadvantages? LO6
A more intensive, and extensive, monitoring system is needed in project management than in a functional organization.Why? LO6
The EV chart is an attempt to put the three-dimensional concept of Figure 1.1 (see Chapter 1) into a two-dimensional format. Is it successful? What is missing? LO6
How might a variance be traced back to its source? LO6
Is it unethical, in an attempt to avoid a “shoot-the-messenger”response, to simply not mention bad news? LO6
Which method of estimating EV seems the most accurate?Which one would you recommend? Why? LO6
Find the schedule and cost variances for a project that has an actual cost at month 22 of $540,000, a scheduled cost of$523,000, and an EV of $535,000.LO1
A sales project at month 5 had an actual cost of $34,000, a planned cost of $42,000, and a value completed of $39,000.Find the cost and schedule variances and the CPI and SPI.LO1
A consulting project has an actual cost in month 10 of $23,000, a scheduled cost of $17,000, and a value completed of $20,000.Find the schedule and cost variances and the three indexes.LO1
At week 24 of a project to shoot a television commercial, what should the expenditures be? If the EV is right on schedule but the actual expenses are $9000, what are the cost and schedule variances?
Resolve Exercise 8b using MSP. Omit the calculations for CPI, SPI, and CSI.LO1
Resolve the EV example of Table 10.1 by recomputing Figures 10.5 and 10.6 using the 0–100% rule.LO1
Repeat Exercise 11 using the time proportionality rule and the following new data for % completion of each task:a: 100; b: 100; c: 80 (cost 600); d: 50 (cost 200); e: 0.LO1
Draw an EV chart for the end of the first week (5 days)assuming the time proportionality rule for the project illustrated in the following network diagram given the following costs and percentage
The following project is at the end of its sixth week. Find the cost and schedule variances. Also find the CPI, SPI, ETC, and EAC for the project.LO1 Activity Predecessors Duration (weeks) Budget, $
What is the purpose of control? To what is it directed?LO4
What are the three main types of control system? What questions should a control system answer?LO4
What tools are available to the PM to use in controlling a project?Identify some characteristics of a good control system.LO4
What is the mathematical expression for the CR? What does it tell a manager?LO4
How is creativity controlled?LO4
What are go/no-go controls?LO4
What is a champion?LO4
Describe a cybernetic control system.LO4
What should the postcontrol report include?LO4
How should change be controlled?LO4
Describe the phase-gate process.LO4

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