It is only after everybody has settled into their new roles that the team starts performing. Initial requirements as seen by stakeholders and the outcomes of the project also are listed in it. To determine what exactly is to be procured, ensure they are procured at the best price and is made available to the project team at the right time. “Closing” phase makes sure the temporary activities related to the project are closed systematically. 0000002500 00000 n Work performance is monitored periodically to find if there is any variance in efforts so that corrective actions could be taken. Please wait while the activity loads. 0000008053 00000 n 0000004753 00000 n Crashing and fast tracking are two methods of accelerating a project time schedule. These are temporary, in the sense that they are not routine work like production activity but most often one time set of activities undertaken. Final set of activities are related to the systematic closure of the project. How do you estimate in the three point estimating method? 0000001866 00000 n 0000005984 00000 n PM is charged with managing all aspects of the project. 3. This is a qualitative assessment and will determine the kind and details of communications they need on the project. This is a document where it all begins. Planning set of activities are required to plan the activities to be undertaken to achieve the defined goals. Requested changes will have to be reviewed by a change control board. Same goes for quality management too. Project baselines are the starting versions of all related plans of a project, be it the time schedule, the quality plan, the communication plan or whatever. 0000343681 00000 n In this type of contracts the contractor gets paid for time used on the project and expenses for material used and other agreed upon expenses. The document which contains all project related information. What is Work Breakdown Structure (WBD) and how does it affect the work estimates of tasks/activities? 23. 0000004624 00000 n Are there distinct kinds of activities in a project? It is the difference in estimated effort and the effort actually needed. These could be categorized as technical, external, internal/organizational, etc. If earned value is equal to the planned value then the project is achieving what it is supposed to. Provide some examples.A project for a product will result in a complete product or part of a product. 24. A portfolio is a collection of projects, programs and even other portfolios that help an organization achieve some common high level business purpose. When activity scheduling is done there will be activities whose start time and/or end times are not critical. 37. 46.What does procurement administrator involve? 0000001965 00000 n 0000267579 00000 n H�\��n�0E�|������=�J(R��R����8yH/9d���ܪ����p����f���oqhw~2�>tџ�Kl���c�Ei������g{j�,O�w���O�p��6�{. 34. What are some techniques used for defining scope? Strong Answers to Top 10 Interview Questions 2 Flagship Management Brogan House Kinvara, Co.Galway, Ireland Tel: +353 1 905 9100 email: [email protected] 1. Besides being a good professional manager, the PM needs to have additional personal skills for being effective. Make use of additional resource do not implement anything that does not come under the scope. Product breakdown, requirements analysis, systems engineering, systems analysis, value engineering, value analysis and alternatives analysis. 0000102086 00000 n Why does a PM need to be very proactive? A Point in Project schedule when some objective, a part of a result or a part of the planned services planned are achieved. Goals are set, questions are asked about what improvements can be made and metrics (measurements that tell us something about the process) are carried out. 0000003271 00000 n A project is a set of task/activities undertaken to create a product, services or results. 0000003984 00000 n The … If loading fails, click here to try again, A set of task/activity that are a routine, A set of task/activity with a undefined timeframe, A set of task/activity with a defined timeframe, It’s a collection of program and portfolio, It’s a collection of projects and portfolio. A Particular Time in project schedule when some objective, a part of a result or a part of the planned services planned are achieved. 29. Search Search When assessing risks the project team also tries to determine the probability of the risk actually happening and the impact it will have on the project when it does. A Process in project schedule where some objective, a part of a result or a part of the planned services planned are achieved. Process improvements help mistakes in processes and thus help improve quality. Improving self and the team knowledge is equivalent to the continuous improvement of A process and should impact the quality of the project outcome. Crashing method tries to optimize the schedule making use of the time floats available while keeping costs under control.