Download Project Management Essentials: Planning, SOW, and WBS and more Exams Project Management in PDF only on Docsity!
MGMT 5220 EXAM 2 2025|ACTUAL 240 QUESTIONS
AND ANSWERS|GRADED A+
How can one know if a project is going to succeed or fail? Because the project manager in advance has documented a plan. Most difficult and most unappreciated process in project management Project planning Main purpose of a project plan To guide execution; a reference point; measure and adjust from Permeates every aspect of project management - the pm's lifeline Project planning Most managers do not like planning due to the following: (4)
- It takes time.
- You have to think.
- It involves paper work.
- You are committed to achieve a specific result within a specified time period. 5 reasons for planning
- To eliminate or reduce uncertainty
- To improve efficiency of the operation
- To obtain a better understanding of the objectives
- To provide a basis for monitoring and controlling work
- To provide a reference point for pricing An effective plan will be _____, _____, ______, and _____. Explicit; intelligible; flexible; controllable Stated in detail, leaving nothing merely implied Explicit It must be understood and be comprehensible. Intelligible
Sow; charter; scope statement Base document for any project; written by the project manager, ideally before the project starts; a narrative description of products, services, or results to be supplied Sow (statement of work) Ultimate reference document for project Sow Indicates customers requirements and "written" expectations Sow Lists goals, constraints, and success criteria for the project Sow Avoiding ______ now in the sow prevents future problems. Ambiguity
Effective sows contain....(4)
- Introduction and background
- Technical description
- Timeline and milestones
- Client expectations Sow is often a __________. Word document Typical contents of a sow (9)
- Purpose statement
- Scope of work
- Location of work
- Period of performance
- Deliverables
- Costs & schedule estimates
- Applicable standards
- Acceptance criteria
- Special requirements
- create an elevator pitch 2 parts of reviewing the project documentation
- create an sow
- create a purpose statement Lists specific deliverables, describe them in detail, and specify when they are due Deliverables Describes the costs estimates for the work to be done and the details on how estimates were developed Costs & schedule estimates Specifies any company or industry specific standards that are relevant to performing the work Applicable standards Describes how the buyer organization will determine if the work is acceptable Acceptance criteria
7 points to address when developing a statement of work (sow)
- Purpose
- Exclusions
- Quantities
- Schedule
- Deliverables
- Acceptance criteria
- Responsibility A document issued by the project initiator or sponsor that formally authorizes the existence of a project, and provides the project manager with the authority to apply organizational resources to project activities. Project charter A _____ is often a powerpoint presentation created from the sow with some simplifications and some additions. Charter A document that gives concise, comprehensive, and high level information about the project
Scope management Scope mangement consists of....(6)
- Conceptual development
- Scope statement
- Work authorization
- Scope reporting
- Control systems
- Project closeout Includes the processes involved in defining and controlling what is or is not included in the project - including change Scope management 4 steps of the scope statement process
- Establish the project goal criteria
- Develop the management plan for the project
- Establish a work breakdown structure
- Create a scope baseline
5 goal criteria
- Cost
- Schedule
- Performance
- Deliverables
- Review gates You cannot manage your customer without management of your project management ___________________. Change process When your customer initiates a change request, you must be able to predict _______ the impact on schedule, cost, and technical performance. Immediately The purpose of wbs structure It is to structure an assigned project into various activities in order that: (a) detailed planning can be performed, (b) costs and budgets can be established, (c) objectives can be linked to available resources in a logical manner, and (d) specific authority and responsibility can be assigned.
A process that sets a project's scope by breaking down its overall mission into a cohesive set of synchronous, increasingly specific tasks. Work breakdown structure What does wbs accomplish?
- echoes project objectives
- offers a logical structure
- establishes a method of control
- communicates project status
- improved communication
- demonstrates control structure 2 forms of a wbs
- Indented format
- Graphical tree format 4 tiers of work breakdown structure tree format 1.0 the project is the overall project under development. 1.1 deliverables are major project project components. 1.1.1 sub deliverables are supporting deliverables 1.1.1.1 work packages are individual project activities
A project plan will have a ______ and a _______. Wbs; schedule A simulation of project work - early identification of "problematic" areas; definition and clarity of roles and work - provides "fit" and coordination; reference point for changes Pm plan A single document that "captures" the project; comprehensive description of the project and how it will be run; assembling the planning results; a working document - short and concise Pm plan 3 common project documents that are the output of conceptualization
- Sow
- Charter
- Scope statement Typical contents of a sow
Specifies when the work is expected to start and end, working hours, and related schedule information Period of performance Lists specific deliverables, describe them in detail, and specify when they are due. Deliverables A document issued by the project initiator or sponsor that formally authorizes the existence of a project, and provides the project manager with the authority to apply organizational resources to project activities Project charter Often a powerpoint presentation created from the sow with some simplifications and some additions Charter Document that gives concise, comprehensive, and high level information about the project Project charter
Purpose of a wbs structure It is to structure an assigned project into various activities in order that detailed planning can be performed; costs and budgets can be established; objectives can be linked to available resources in a logical manner; and specific authority and responsibility can be assigned How to develop a wbs structure
- can be developed using a top-down or bottom-up approach
- can be hardware-related, function-related, or combination
- depth of wbs must balance out management effort against planning accuracy (influences technical and cost-control)
- for accuracy purposes the wbs should be taken down several levels
- the wbs must be structured for objective control & evaluation Principles for creating wbs
- each unit of work; only one place in the wbs
- the work content of a wbs item is the sum of the wbs items below it (rollup)
- a wbs item is the responsibility of one one individual
- the wbs must be consistent with the way in which work is actually going to be performed. The _____ serves the project team first, but can be useful to all stakeholders.
- Offers a logical structure
- Establishes a method of control
- Communicates project status
- Improved communication
- Demonstrates control structure Two forms of a wbs
- Indented format
- Graphical (tree) format Tree format level: the project is the overall project under development
Tree format level: deliverables are major project components 1.x Tree format level: sub-deliverables are supporting deliverables 1.x.x
Tree format level: work packages are individual project activities 1.x.x.x A project plan will have a _____ and a ______. Wbs; schedule Most contracts contain...(3) Requirements; valid consideration; contracted terms Contracts range from _______ to _________. Lump sum (aka turnkey) to costs plus A _____ is the lowest level of the wbs. Work package A work package is _________ in that it: defines work (what); identifies time to complete a work package (how long); identifies a time-phased budget to complete
