Project Management

A project is:

• An organisational function performing the ongoing execution of activities that produce the same product or provide a repetitive service

• A function of operations that focuses on sustaining business that may have a one-time configuration or ongoing processes.

• A seemingly insurmountable challenge that when approached in a systematic way makes it appear doable, if only temporarily

• A temporary endeavor undertaken to create a unique product, service or result.

What is the purpose of identifying milestones?

• To keep track of your finances

• To help you keep track of each key stage of the project

• To speed up your work process

• To delegate all your tasks to others

What is contingency?

• An identified verifiable stage of the project that you can tick off once it's done

• The term given to describe the different stages a project goes through

• The allocated amount of time/money identified as a buffer for minimising risks

• The tasks that may or may not be included in the project

How often should a status meeting ideally be held to catch up on people's progress?

• Weekly

• Daily

• Monthly

• None as long as you keep in touch by Email

Who are the stakeholders in a project?

• Those who are sponsoring your project and provide its resources

• Those who will be affected by the project's outcome and are involved at specific stages

• Those who will aid you in the project

• The shareholders of the compnay

What is this?

• Gantt Chart

• PERT Chart

• RACI Matrix

• Critical Path Analysis

What most distinguishes projects from day-to-day operation?

• It has a definite budget

• It has to deliver specific outcomes at a predefined time

• It brings changes to the organization

• It requires planning

If you were only allowed one tool to manage a project, which of the following would you choose and why?

(a) Work breakdown structure

(b) Gantt chart

(c) Resource chart

(d) Risk register

Changes are inevitable for every project. The implication is:

• Project planning is not important as it will always be changed later

• A proper change control process has to be implemented

• It is mandatory to have customer signoffs for all planning documents to avoid subsequent changes

• Skills in handling changes are more important than those in project planning for a project manager

An accepted deadline for project approaches. However, the project manager realises only 75% percent of the work has been completed. The project manager then issues a change request. What should the change request authorise? Choose from:

1) Additional resources using the contingency fund

2) Escalation approval to use contingency funding

3) Team overtime to meet schedule

4) Corrective action based on causes

Justify your answer