Flashcards
Mgmt206 Project Management
Cards in this deck (10)
- 1What are the key steps to schedule a project?1. Define
2. Plan
3. Schedule
4. Control - 2What is the critical path?The sequence of activities that takes the longest time and defines the total project completion time - delays will delay whole project.
- 3What are the seven key issues eased with critical chain method?1. DEPENDENCIES VISIBLE
2. LONG AND COMPLEX PROJECTS SYSTEMATICALLY APPROACHABLE
3. SHOWS SLACK TIME
4. DURATION REDUCTION
5. OPTIMISED EFFICIENCY WITH RESOURCE ALLOCATION
6. PREDICT RISK OF GOING OVER SCHEDULE
7. SHOWS IMPACT OF SCHEDULE REVISION - 4What is the equation for expected time?(a + m(4) + b)/6
- 5What is the equation for variance?(b - a)^2 /36
- 6How do you calculated expected project time?By adding up the sum of all the expected times on the CRITICAL PATH
- 7How do you calculate expected variance?By adding all the variances from the CRITICAL PATH
- 8What is the z equation?(T - Expected time) / (square root of expected variance) then go on to find PROBABILITY from distribution table.
- 9What is PERT?A 'best estimate' in the absence of better information
- 10How can we get better information to avoid using best guesses?1. Frequency of activity will give more accurate 'best guesses'
2. Paying for better information.
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- Flashcards on Mgmt206 Project Management, created by Hannah Lucas on 15/06/2015.
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- Hannah Lucas
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