M03 Assignment - Knowledge Areas, Schedule, Cost, and Quality

Purpose

The purpose of this assignment is to check your understanding of the readings from (Schwalbe). You will use this knowledge gained in the readings to display your understanding of Project Management Project Methodologies. Your responses will be graded on the content, grammar, and citations. Refer to the grading rubric for further explanation. Make sure you read each question thoroughly because there may be multiple responses needed for the question.

Question 1: (points 15) Planning Schedule Management requires sequencing the activities and identifying the dependencies. Describe what Sequencing Activities means and what are the impacts of incorrectly sequencing the activity. Describe what establishing Dependencies means to a project. What are the impacts if the dependencies are not identified in the beginning of the project versus in the middle of the project timeframe?

Question 2: (points 15) Describe what a Critical Path is and how is it used for project scheduling. What is Slack or Float? Explain how to calculate the Critical Path.

Question 3: (points 10) Explain how to develop cost estimates and basis of estimates. Define level of accuracy in cost estimation.

Question 4: (points 10) Describe how control thresholds are used in cost management