& SOLUTIONS
What is a project - ANSWERA unique undertaking in which resources (human, material,
and/or financial) are organized to achieve an end goal or outcome
Four steps in project management - ANSWER1. define the project
2. establish project priorities
3. work breakdown structure
4. track project progress
Project priorities triangle from lecture - ANSWERCost, time, performance (Quality in the
middle)
Objectives (provide examples) - ANSWERDesired outcomes for the project. These
outcomes could be in the areas of performance, cost, time and/or quality.
Example: Performance: The movie will make at least $20 million in ticket sales and will
not exceed a budget of $15 million. The movie will be released by June of next year.
The movie will get a fresh rating on Rotten Tomatoes
Deliverables (provide examples) - ANSWERA description of the products and/or
services that should be delivered by the end of the project.
Example: A motion picture with a PG-13 rating. Three different trailers for the film.
Movie posters and graphic designs that can be used for promotion of the film
Milestones (provide examples) - ANSWERSpecific events targeted as important to
staying on track that will occur throughout the project. These might include start dates,
end dates, decisions that will be made, expected due dates for deliverables, etc.
Example: Actors should be chosen and under contract by July 1. Shooting locations for
the film should be finalized by August 15. Filming should begin by September 1. Filming
should be completed by September 24. The final version of the film should be ready by
January 10. The movie will be shown at a film festival on February 1
Activity-on-node (AON) Diagrams - ANSWERAn illustration where each circle
represents a single activity in the project
Critical Path - ANSWERThe critical path is the project path with the longest total
duration. The critical path defines the expected length of the project
Slack - ANSWERSlack is the amount of time a path or single activity can be delayed
without impacting the project duration. Any activities on the critical path have zero slack.
, Crash a project - ANSWERCrashing the project is the act of finding a cost-effective way
to decrease the present length of the project. This is done by decreasing the time it
takes to complete the critical path(s)
Business Process Improvement (BPI) - ANSWERAn incremental approach to move an
organization toward business process centered operations
Focuses on reducing variation in process outputs by identifying the underlying cause of
the variation
Desired state vs Present State - ANSWERDesired state- the goal (must be measurable
and detailed)
ex. 80 percent of customers served immediately in a system where system costs are
less than $250 per hour
Present state- present state in same terms as the goal
ex. 35 percent of customers served immediately in a system where system costs are
$180 per hour
Gap Analysis - ANSWERMeasure and compare the difference between the desired
state and the present state.
ex. Presently, the system is 45 percentage points short of the desired state. The costs
are $70 per hour less than the maximum desired level
Project Scope - ANSWERThe work performed to deliver a product, service, or result
with the specified features and functions.
ex. Our project will consider both staffing levels and process design. Our project will not
look at the price to the consumer. A timeline and budget might be provided
Block Diagram vs Flow Chart - ANSWERBlock diagrams help process managers see
and discuss an entire system. They are used to see the big picture - the world around
their process. They are simple flowcharts that use only rectangles and arrows
(rectangles represent large business functions/processes and arrows represent the
order that the functions/processes are executed in)
Swimlane flowcharts (Functional) - ANSWERMore detail than standard process maps.
In these charts we can see the individual or group that is responsible for each activity.
Additional lanes can be added to illustrate the amount of time each activity would take.
These types of flow charts could be very helpful in communicating individual
responsibilities to multiple stakeholders impacted by the process
Value of flowcharts for the organization - ANSWERDeveloping and improving business
processes can benefit from flow charts that help managers illustrate the process for
both the benefit of the development team as well as those that will ultimately execute
and manage the process