Project Management Questions on Constraints Triangle and Project Management Types PDF

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Summary

1. With the aid of a suitable diagram, explain the classic triple constraint triangle.
2. List eight (8) fundamental components of project management and explain any
four (4) of them.
3. Define project management and state four types of project management.
4. List six (6) sou...

Description

Instructions Answer all questions. Any late submission will amount to zero mark. 1. With the aid of a suitable diagram, explain the classic triple constraint triangle. 2. List eight (8) fundamental components of project management and explain any four (4) of them. 3. Define project management and state four types of project management. 4. List six (6) sources of the project or where the project comes from as a project manager.

Question 1 When it comes to Project Management, there are three main constraints for every project. These three constraints are Time, Cost and Scope. These three constraints are usually shown on a triangle as seen below which is also known as the Project Management Triangle.

Time: When it comes to time management, it can be difficult to predict unforeseen circumstances that will affect the project progress. It is therefore included in the triangle as one of the constraints a project manager needs to consider when working on any particular project. Cost: Cost is another very import constraint that is needed to be considered by a project manager. It's crucial for the project manager as well as the organization to have an estimated cost of the scope that needs to take place when undertaking a project. Budgets will need to ensure that the project is developed within a certain cost. There are times when the managers will have to allocate additional resources and funds in order to meet the certain deadlines. Big projects often have penalties in place so certain deadlines are met. Project managers need to avoid all penalties. Scope: The third constraint from Project Management Triangle is the Scope. The scope looks at the outcome of the given project. The project scope will identify and outline the boundaries of the project. The scope helps project managers understand what the project is and what the project is not. This consists of a list of deliverables, which need to be addressed by the project team. A successful project manager will know to manage both the scope of the project and any change in scope which will impact time and cost. Quality: While quality is not one of the 3 main constraints, it is directly affected by all 3 of the constraints shown above on the Project Management triangle. Quality should be reviewed timely at the end of each project phase, and the standard quality standard should be well-defined and accessible.

Question 2 1.

Project Schedule: It is crucial for a project manager to always be aware of the project

schedule. Project managers need to be aware of the planned dates as set out in the master plan. The schedule will include planned dates for starting and completing the project. Often external stakeholders are involved in the determination of the deadline dates. Likewise, changes in the schedule mid-project are usually issues that require active management. The project schedule and the project budget are mostly integrated together. 2.

Know your Quality: This implies the standard and criteria to which the project or product

must be delivered in order for the project or produced to perform effectively and efficiently in order to satisfy the needs of the customer and the project sponsors. There are also several aspects to quality management. Each of these items need to be addressed and monitored closely.

3.

a.

Determining quality standards.

b.

Developing a strategy to meet the standards (quality assurance)

c.

Measuring quality (quality control)

Know your Risks: There are many things that can go wrong on a project. Good project

managers try to anticipate every possible scenario that could disrupt the project, and while that is an extremely challenging task, there are many pitfalls that can be predicted. In the risk management plan, the project manager will identify certain risks that could occur on the project as well as include the likelihood of such risks materializing. Having identified these risks, the project manager will need to put certain strategies in place in order to mitigate them. The project manager will need to seek input from the project sponsor, project team, stakeholders, and internal experts in order to create a good plan. 4.

Stakeholders: These are the people or organizations that are actively involved in the project,

such as; customers, sponsors and the public whose interests may be positively or negatively impacted by the execution and outcome of the project. For that reason, a stakeholder list should be developed and stored within the project management master plan and consulted with on a regular basis. A proper stakeholder analysis includes a classification of the stakeholders power to influence the project as well as their level of interest in the outcome of the project. 5.

Project Scope

6.

Project Objectives

7.

Project Budget

8.

Strategy

Question 3 The definition of Project Management is: The art and critical practice that applies

knowledge

of

process,

skills,

organising,

leading, reporting,

deliverables, techniques, as well as using the project management principles, to ensure a solid path to project success by meeting goals and requirements. 1. General Management 2. Portfolio Management 3. Programme Management 4. Process Management Question 4 1. New Technology 2. Economic Changes 3. Market Demand 4. Political Changes 5. Strategic Opportunities 6. Stakeholders Demand...