I will have a online test on August 2 at 10:00 pm ~ 2:00 am in chicago time

Selected Answer:

 True

Answers:

 True

False

Response Feedback:

Last paragraph of page 2 in Morris/Pinto readings.

Selected Answer:

 False

Answers:

True

 False

Response Feedback:

A project plan must be in place BEFORE a project can be controlled.  In addition, project control is partially defined as comparing actual performance to the plan.

Selected Answer:

 True

Answers:

 True

False

Response Feedback:

Page 23 in Morris/Pinto readings.

Selected Answer:

C. 

Keeping a record of the project's original plan in order to compare what should have been done with what has been done

Answers:

A. 

Updating a project plan to reflect scope and budget changes in the project

B. 

Reporting of cost and schedule variances for use in predicting future project estimates

C. 

Keeping a record of the project's original plan in order to compare what should have been done with what has been done

D. 

None of the above.

Response Feedback:

Page 22-23 of Morris/Pinto readings.

Selected Answer:

 True

Answers:

 True

False

Response Feedback:

Page 19 in Morris/Pinto.

Selected Answer:

 False

Answers:

True

 False

Response Feedback:

See week 1 PPT slides.

Selected Answer:

Identifying changes to scope - New or modified artifacts are required to meet newly confirmed or more clearly understood requirements. You can also send a range change request to the project manager.

Assessing the need for the scope change - In this section, we will examine the effect of the change required to meet the requirements, the impact of the project on the overall product, the impact on project constraints.

Accepting or rejecting the scope change request - Here you can document the reason for the decision and tell set of altered artifacts (or some of the deliverables changed) to the stake holders of the other project. 

Adjusting the project plan - this is done taking into account the set of changed artifacts.

Correct Answer:

Identifying changes to scope
What new or changed deliverables are required to meet the newly identified, or more clearly understood, requirement. It also includes transmitting the request for scope change to the project’s management.

Assessing the need for the scope change
This includes deciding whether the change requested is genuinely needed to meet the requirements, any implications on the entire set of project deliverables, and the impact on project constraints (time, money, people, material).

Accepting or rejecting the scope change request
This includes documenting the reasons for the decision and communicating the changed set of deliverables (or that part of the deliverables changed) to those making them and to other project stakeholders.

Adjusting the project plan
This is done to take account of the changed set of deliverables (meaning changes to budget, schedule, people carrying out the work, etc.).

Response Feedback:

[None Given]

Selected Answer:

Key performance indicators are used to measure the progress of the project to achieve the goal not the details of the progress of the work package. It is used to measure project performance directly related to changes provided by these projects. Measure the project specific performance, that is, the performance of the project process. KPI is determined at the beginning of the project and you need to provide the progress information directly to the project goal. The information provided by these outcome measures helps determine the trade-off between various control actions required by the project manager. An example of a project KPI is to track the percentage of missed milestones. You can track missing milestones and restart the project to prevent these mistakes beforehand.

Correct Answer:

Key performance indicators (KPIs) are used to measure project progress toward achieving objectives, rather than the detail of progress of the work packages. They may be used to

• Measure project performance that is directly related to the change the project is delivering (which could be shareholder value, return on investment, market share, etc.)

• Measure project specific performance—that is, the performance of the project processes (e.g., effectiveness of project control mechanisms, degree of project cost reduction by using designated procurement practices, amount of change occurring in project, etc.).

KPIs must be determined at the beginning of the project and provide direct progress information toward project objectives. The information these measures of performance provide can help the project manager make decisions on  trade-offs between the various (usually conflicting) control actions needed.

EXAMPLE OF KPIs will vary.

Response Feedback:

[None Given]

Selected Answer:

Develop guidelines for tracking, reporting and management. It will be carried out at the start of the project just before the project is started. The general process is to define data categories and develop documentation of data. Classify control points. Implemented during the project. The general process, thanks to the cost of auditing scheduling function, thanks for the cost. Identify the implementation process. Act towards the end of the project. Some common processes are courses of corrective action compared to the goal schdule.

Correct Answer:

Page 20-21 from course textbook

I. Establishing guidelines for tracking, reporting, and control [TRACKING AND REPORTING] (planning phase)

  A. Define data requirements

  B. Develop data documents

II. Categorize control points [MEASUREMENT AND EVALUATION] (planning and execution phase)

  A. Schedule audit

  B. Performance audit

  C. Cost audit

III. Identify implementation process [CORRECTIVE ACTION] (execution phase)

  A. Comparison with targeted schedules

  B. Corrective course of action

Selected Answer:

$990.00

Correct Answer:

$990,000

Response Feedback:

[None Given]

Selected Answer:

$640.00

Correct Answer:

$640,000

Response Feedback:

[None Given]

Selected Answer:

$597.00

Correct Answer:

$597,000

Response Feedback:

[None Given]

Selected Answer:

$628.00

Correct Answer:

$628,000

Response Feedback:

[None Given]

Selected Answer:

0.95

This means that the project is behind schedule

Correct Answer:

0.95

The project is behind schedule.

Response Feedback:

[None Given]

Selected Answer:

0.93

This means that the project is over budget

Correct Answer:

0.93

The project is over budget.

Response Feedback:

[None Given]

Selected Answer:

$1,061.31

Correct Answer:

$1,061,310

Response Feedback:

[None Given]

Selected Answer:

Percent Complete Rule

-When the unit of work is completed during the work package period, the cost is allocated periodically to the baseline. This method is well done if it can be measured physically. If you are process-based rather than working, or if it is difficult to physically measure it, you can apply other methods.

50/50 rule

-Allow 50% to be added at the completion of packages acquired when 50% of the budget value of the work package is activated. Improvement of the 0/100% rule, the evaluation is over pessimistic and other overly optimistic at run time. Measuring the completion of the physical proportion is a good technique for difficult tasks. Still can surpass or underestimate the actual completion of the activity project.

0/100 percent rule

-You can earn 100% budget deduction at the same time, only if you are done. This method is an excellent conservative way to estimate the completion rate. Credit will not be added to the work done until it is over. On the negative side, the state of the project can be shaking, the project can underestimate unnecessarily.

Percent complete with weighted monitoring gates

-Longer activities can get the biggest  benchmark at each time interval. A hybrid of 50/50 rules that can find the progress of work using a predefined percentage. A more accurate measurement of completeness is possible, which is the best choice for evaluating work progress.

Correct Answer:

Percent Complete Rule

Costs are periodically assigned to a baseline as units of work are completed over the duration of a work package

If the work is something that can be physically measured (e.g., measure how many bricks out of the total bricks to install have been put in), then this method works well.  If the work is more process based or hard to measure physically, then other techniques may be more applicable.

Fixed Formula

0/100 percent rule

Assumes 100 % of budget credit is earned at once and only when the work is completed

This method is an excellent CONSERVATIVE method for estimating percent completion.  No credit is earned for work done until it is over.  On the negative side, may cause wild swings in project status (CV, SV, etc.) and may cause the project to be unnecessarily under-billed.

50/50 rule

Allows for 50% of the value of the work package budget to be earned when it is started and 50% to be earned when the package is completed

An improvement to the 0/100 percent rule, whereby the assessments are both overly pessimistic and overly optimistic at different times of execution.  A good technique for work that is hard to measure physical percent completion.  Still may over or underestimate the actual completion on an activity/project.

Other possible allocation rule may be 25/75 or 20/80

Milestone weights

Percent complete with weighted monitoring gates (a.k.a. - milestone method)

Longer activities have benchmarks worth a maximum value at each interval

A hybrid of the 50/50 rule whereby pre-defined percentage (can be any number, not just 1 or two set-points) can be used to find the progress of the work.  This is the best option for work progress assessment as it allows for more precise measurement of percent complete.  On the negative side, benchmarks or progress monitoring gates need to be fairly and accurately established at the beginning of the project and should reflect the actual level of effort used.

Other Methods:

• • Units Complete

• • • A very objective way to measure earned value but suitable really only suitable for a production environment.

  • Level of effort

• • • Mostly based upon time passage.  Good for activities that are well planned out and whose cost is directly related to time.

Selected Answer:

1. Difference between CPM and PERT

PERT

It is event oriented. It is based up 3 times values for an activity. It is used where time required to complete various activities is uncertain. It doesn't consider cost analysis. It is associated with probabilistic activity.

CPM

It is activity oriented. It is based upon single time to complete an activity. It is used for repetitive job where one has prior experience of handling similar project. It gives importance to cost analysis. Associated with deterministic activity.

2. Same

Scheduling and management. They define the project and signify activities or events. Both have only single start activity and a single finish activity. Drawing of network diagram connecting all the activities are similar in both.

Correct Answer:

CPM and PERT are both network based methods for project planning. PERT takes into account variability of project duration by using three time estimates for each activity to derive a time distribution for project completion with mean and variance parameters. These help managers better account for uncertainties in project scheduling. In contrast, CPM gives less attention to uncertainty and more to the tradeoff between time and cost in finishing a project. It uses a single, deterministic, time estimate for a given level of work effort. The two methods are similar in that both are network techniques that assist with the development of a schedule before a Gantt chart is finalized for project execution, communication and control.

Response Feedback:

[None Given]

Selected Answer:

 True

Answers:

 True

False

Selected Answer:

 True

Answers:

 True

False

Selected Answer:

 False

Answers:

True

 False

Selected Answer:

te = 4.833 and

s2= V = 0.25

Answers:

te = 4.667 and

s2= V = 1.5

te = 4.833 and

s2= V = 0.5

te = 5.000 and

s2= V = 2.5

te = 4.833 and

s2= V = 0.25

None of the above are true.

Response Feedback:

Good work.   The correct answer is Te = 4.833 and V = 0.25

Activity

Predecessor

a (days)

m (days)

b (days)

--

11

11

D,E

F,E

Selected Answer:

tm = (a+4m+b)/6

A-C-F-G this path.

So, the project will take 28.16. So it will be 29 days to completed. It will complete on 5/9/16

Correct Answer:

Part 1 - 9/13/2016 (27 working days)

Part 2 - Approximately 79%, but answers can vary greatly as each simulation will be different.

Response Feedback:

See answer key and answer files (for both @risk and Project and Excel are in the week 3 folder.)

Selected Answer:

p = 0.70

q = 1 - p

q = 1- 0.70 = 0.30

E = 0.05

z = 1.645, So, n = p*q(z/E)^2 = (0.70)(0.30)(1.645/0.05)^2 = 228

Therefore, 228 observations must be made.

Correct Answer:

226 observations; z=1.64 standard deviations; p = 0.3; and A = .05

n = (z2 / A2) (p(1-p)) = (1.64^2 / .05^2) x (.3X(1-.3)) = 225.9

Response Feedback:

[None Given]

Productive Work

Idle

Total

953

354

1307

Selected Answer:

Level of significance = (1-0.9545)/2 = 0.02275

z = 2.001

e= z*sqrt[(354*953)/1307^3)] = 0.02458468

relative accuracy = 0.02458468/(354/1307) = 0.090768 = 9% approx

for 5 % 

n = z*pq/e^2

e = 0.05*p

n = z*q/p*400

n = 2.001*953/354*400 = 2154.74915

So additional observation required = 2155-1307 = 848

Correct Answer:

A = z [p(1-p)/n]0.5 = 2 [(.2708)(.7291)/1307]0.5 = 0.0246

s = (0.0246 / .2708) = 9.07%

n= z2/a2 x [(p*(1-p)] = 22/(.05*.2708)2 x [(.2708)(.7291)] = 4307 total observations; about 3000 more observations needed

Response Feedback:

close on n, but off.  relative accuracy is correct.  see key

Selected Answer:

 False

Answers:

True

 False

Response Feedback:

It is essential that observations are taken at random intervals during a work sampling study so that the assumption of the binomial theory of constant probability of event occurrence is attained.

Selected Answer:

Work sampling helps project managers understand the ares where project members cannot function and the percentage of projects running. Sometimes members of the project are not fully utilized. Therefore, grasping these gaps and fields, the project will be strengthened. Work sampling is suitable for determining the criteria of indirect operations and service operations that will greatly help project managers. The advantage of performance control is to monitor and improve performance using achievable estimates. 

Three areas where work sampling is most suitable.

1. After the project manager assigns the task, you can sample the work.

2. Product designing for testing purposes.

3. During research.

Correct Answer:

The four main components of project control are: 1) setting a baseline plan, 2) measuring progress and performance, 3) comparing plan against actual performance, and 4) taking corrective actions.  Without adequate MEASUREMENT, it is impossible to complete parts 3 and 4.  Measurement, specifically at the work task level, is critical to project control.  According to our text (page 135), "The conventional functions of management include planning, organizing, leading, directing, and controlling.  Somewhere along the lines running through this spectrum of management lies the function of measuring."

Performance control allows project team members to better understand and improve work tasks through detailed observation and analysis.  "Measurement of productivity, human performance, and resource consumption are essential components of achieving organizational goals and increasing profitability (course text, pg 136)."

Three areas where work sampling is most suitable include: 1) machine utilization, 2) allowances for unavoidable delays, and 3) work standards for direct and indirect work.

Response Feedback:

See answer key for fuller explanation

Selected Answer:

Contract management is the selling process, managing contacts and relationships with sellers and sellers, the seller reviews sales and sales behavior for corrective actions required.

In terms of project management under contract management, it is as follows:

Acquisition plan, planning of contract strategy, request and proposal of SDO, evaluation of proposal from SDO. The core of contract management is procurement management. This is the process:

1. Quality, schedule, cost monitoring of all procured items.

2. Visit the facilities of subcontractors and suppliers, check.

3. Track progress and cost of external suppliers and suppliers.

4. Prepare for all major procurement products, equipment, parts, service situations.

Correct Answer:

Aspects of project control that fall within the area of contract administration include: on-going comparisons of actual project activities, changes, and accomplishments with requirements stipulated in contracts, invoicing of customers, and payment of bills. Such a system assesses change requests against contract agreements, specifying where contractual modifications are necessary before proceeding. Where project monitoring and reporting to meet customer requirements has been set forth in a contract, the control system needs to incorporate these into the internal performance tracking and reporting systems. Invoicing and billing schedules also must be included in the control system.

Response Feedback:

[None Given]

Selected Answer:

 True

Answers:

 True

False

Response Feedback:

See page 21 of the Kendrick external reading.  PMISs can also be highly complicated computerized system.  There are many ways to make information and processes readily available.

Selected Answer:

Contract change control system, performance reporting, and payment systems

Answers:

Contract change control system, payment systems, and payment requests 

Contract change control system, contract negotiations, and payment systems

Contract change control system, contract negotiations, and contract changes

Contract change control system, performance reporting, and payment systems

Response Feedback:

see pages 418-419 in Heldman book

Selected Answer:

 True

Answers:

True

 False

Selected Answer:

No, you need to manage the contract after contract. To ensure that executed tasks comply with the contract, the ongoing change in the project is up to date with respect to customer needs and builder capabilities.

Correct Answer:

Ideally the customer should retain some or a large measure of project oversight, especially in projects where the risks and stakes are high. This involves monitoring the contractor and the end-item progress to ensure that requirements and contract commitments are being met.  Lacking competency to do this, the customer might hire someone to assist him with this oversight role.

Response Feedback:

[None Given]