This is a set of questions that deals with project management. The questions ask about the basics of some of the items that can be found within a project such as schedule and scope. There are also questions that deal with risk and risk management.Risks should be identified and mitigated to avoid any problems.
Project Management
Project Schedule
To develop a schedule for a project, we will use the concept of a project network, which shows work activities taken from the work breakdown structure and organized according to the logical flow in time and relationships governing when the work will be performed.
Combining this network of work activities with estimates of the time duration for performing each of the activities, create a schedule for the project work.
When planning a project, one of the key steps is to develop a work breakdown structure for the project. This lets the project team know all the steps necessary to complete the project. Each activity can be broken down into a time estimate and then these can be compiled in an overall project schedule. Some of the activities can be completed at the same time while others will have to be finished before the next activity can begin. For example, in a construction project the foundation would have to be poured before the buildings frame could be erected; these tasks cannot be performed independently and one must be completed before the next can begin. Once the relationships are worked out, the critical path of activities can be identified. These are the activities that can change the project's schedule if the activity is delayed.
c. What types of information can we learn about the project by reviewing the project schedule and all the information used to generate it?
By documenting the lessons learned at the end of the project, the project team can share this information with other stakeholders. This allows knowledge to be transferred that can make future projects easier. There are many ways to transfer knowledge but documenting the lessons learned in the project, what went right, what went wrong, and why, allows people to avoid making the same mistakes that have already been made in previous projects.
2. Risk Management
This is the first time your organization has formally set up a risk team for a project, it is hoped that you will develop a process that can be used on all future projects. Develop an outline that describes how to handle project risks. Please include the following information in the outline:
• Team objectives
The first step in a risk management process is to identify the team's objectives. The team can sit down to together and brainstorm to identify all the potential risks that they may face during the course of the project and how these risks might influence the overall project objectives. Once the risks are in perspective of the project, the team can prioritize these risks and work through mitigation strategies.
• Process for handling risk events
There should be a standardized routine built that details how risks are handled. If a risks emerges, then this must be communicated to the project leadership quickly so that there can be a greater chance that the risk is mitigated. Some larger projects will have forms and procedures that can be communicated electronically. Other projects might have paper change forms or some other tool for reporting.
You’re 84% through this paper. Sign up to read the full paper.
Sign Up Now — Instant Access Already a member? Log inAlways verify citation format against your institution’s current style guide requirements.