STUDY OUTLINE FOR CHAPTER 17
PROJECT MANAGEMENT
1. What is a project?
2. What are the five phases of a project life cycle?
1)
2)
3)
4)
5)
3. How is project management different from general management?
1)
2)
3)
4. Why is it used?
1)
2)
5. What are the key project metrics?
1)
2)
3)
6. What are the main tools?
1) 3)
2) 4)
7. What are the key decision steps in project management?
1)
2)
3)
4)
5)
6)
8. What is the project manager responsible for?
1) 5)
2) 6)
3) 7)
4)
9. What is a project champion, and why are project champions used?
10. What are some of the Pros and Cons of working on projects?
Pros
Cons
11. What is a work breakdown structure, and what is its purpose?
12. What is a Gantt chart?
13. Define these terms:
PERT
CPM
Precedence diagram
AOA diagram
AON diagram
Path
Critical path
Slack
14. Define these terms:
Optimistic time
Pessimistic time
Most likely time
15. Write the formula for
Expected time of an activity
Variance of an activity
Standard deviation of a path
16. What probability distribution is used to describe activity times?
17. What probability distribution is used to describe path times?
18. How is the z-value of a path computed?
19. What rule of thumb is used to assign a probability of 1.0000 to timely path completion?
20. What assumption is made about path durations and activity durations in PERT analysis?
21. Explain the importance of budget control for projects.
22. Explain what is meant by the term crashing.
23. Which activities are potential candidates for crashing?
24. As a general rule, to what extent should a project be crashed?
25. What is the critical chain approach to project management?
26. In what ways can project management software be helpful?
1)
2)
3)
4)
27. What are the Key Points of the chapter?
1)
2)
3)
4)
5)