Written by students who passed Immediately available after payment Read online or as PDF Wrong document? Swap it for free 4.6 TrustPilot
logo-home
Exam (elaborations)

PROJECT MANAGEMENT LATEST EXAM SUMMARY

Rating
-
Sold
-
Pages
5
Uploaded on
18-05-2025
Written in
2024/2025

PROJECT MANAGEMENT LATEST EXAM SUMMARY WITH BOTH QUESTION AND ANSWERS

Institution
Course

Content preview

dmuwodmfdmuwodmfdmuwodmf-f49534e796c33dce4f7512cfc174abaf




2. Project Scope Management

¥ Define the term project scope management.
o Processes to identify and define the work and deliverables required
¥ Which aspects of scope are important for a project?
o Define end state of project to achieve clarity
o Detailed description of project and product (for example by WBS)
o Inclusion and exclusion of requirements
o Contribution to strategic goals
o Communicating scope (importance of project)
¥ What is a Work Breakdown Structure (WBS)?
o Deliverable-orientated hierarchical decomposition of work to be executed
o Identification and definition of all work required
o Group of work packages lead to several levels of accuracy à most detailed level is activity
¥ What is an Organizational Breakdown Structure (OBS) and how is it linked to the WBS?
o Displays organizational units responsible for each work elements of WBS
¥ Define the term activity list and explain how it is created.
o Activity is lowest level of WBS with detailed information about work to be done
o Activity list contains all activities to be done to fulfil project objectives



3. Scheduling

¥ What are the main characteristics of CPM networks?
o AoA-network
o Single-valued
o No cycles, no loops, no parallel arrows
¥ Discuss what happens when the project deadline is shortened. What necessary measures have to be applied?
o Clarify if project can be done in shorter time
o If not, search for solutions to execute project activities faster (more employees, more resources à
higher expenses; less quality)
¥ What are the main types of project or activity networks in project management? What are advantages and what
are disadvantages?
o AoA-networks:
+ Stochastic network techniques like GERT & PERT use AoA
+ fewer arrows generated than in AoN
+ arrow denotes time à better suited for tasks
- Dummy frequent source of error
- Only minimum time lags can be modelled
o AoN-networks:
+ most project management software uses AoN
+ do not need dummy activities
+ clearer diagrams
- not clearly show the timeline
- large networks require dedicated maintenance and analysis
- not easy to reproduce
¥ How can activity precedencies be depicted? What are the different possibilities to depict a project network?
o Finish to start o Start to finish
o Start to start o Project networks like CPM, PERT, GERT,
o Finish to finish MPM
¥ How can the critical path and its activities be characterized?
o Activities with no time buffers/floats before or after their planned schedule time
o Every delay on critical path leads to project delay



Find more resources on this topic on

, dmuwodmfdmuwodmfdmuwodmf-f49534e796c33dce4f7512cfc174abaf




¥ What are characteristics of cumulative resources?
o Limited capacity o Predefined minimum and maximum
o Used by activities in different degrees capacity
¥ What are the main characteristics of PERT networks?
o Multi valued (expected activity o All activities are performed
durations) o Directional graph
¥ What are pre-conditions to apply the label-correcting algorithm for project scheduling?
o No cycle of positive/negative length in case of longest/shortest path to be searched
¥ Discuss what happens, when the resource availability changes during project execution. What necessary or
potential measures might be applied?
o Execution of activities might not be o Prolongation of Project duration
possible anymore o Higher cost possible
o Measures:
à Reduction of dependencies
à Need to find replacing resource
à Shift of workload
¥ What are possible solution algorithms for project scheduling?
o Label correcting algorithm o Heuristics (Greedy heuristic, priority
o Branch & Bound rule heuristic, …)
o Simplex algorithm
¥ How can multiple modes of project activities be defined?
o Multiple ways to perform an activity à specific time, resource and cost demand
¥ What does MRCPSP mean? What are advantages of MRCPSP?
o Multi-mode resource-constrained project scheduling problem
o More planning flexibility
¥ What are potential application cases for multi-mode resource scheduling?
o Dismantling of buildings
o Dismantling of nuclear power plants
o Batch Scheduling of paints



4. Cost management

¥ Which processes are included in cost management? Define the term.
o Estimate the costs o Monitor progress and control costs
o Develop the budget
¥ What is the difference between “cost estimation” and “budget development”?
o Costs are approximated for each activity as well as for the whole project
o Budget development determines where and when costs will be spent
o Close relation between both topics
¥ Give three possibilities to estimate costs.
o Order of magnitude estimates o Definitive estimates
o Study estimates o Detailed estimates
o Preliminary estimates
¥ Describe how to develop a budget.
o Top-down budgeting (hierarchical planning): Top manager issues global budget à passed to lower level
managers, who break down budget in specific components à passed to lower level …
o Bottom-up budgeting: detailed estimates with support of functional organizations included
àaggregation of estimates
¥ What does “time/cost trade-off” mean?
o Reduction of activity duration increases the costs and vice versa
¥ Why do we use multi-mode activities for modelling a time/cost trade-off?
o Modelling different approaches with modes (Mode = different possibility to work on an activity)
o Every mode has specific duration and costs

Save time with the right summary on

Written for

Course

Document information

Uploaded on
May 18, 2025
Number of pages
5
Written in
2024/2025
Type
Exam (elaborations)
Contains
Unknown

Subjects

$3.49
Get access to the full document:

Wrong document? Swap it for free Within 14 days of purchase and before downloading, you can choose a different document. You can simply spend the amount again.
Written by students who passed
Immediately available after payment
Read online or as PDF

Get to know the seller
Seller avatar
lecturerdylan

Get to know the seller

Seller avatar
lecturerdylan Arizona State University - West Campus
Follow You need to be logged in order to follow users or courses
Sold
-
Member since
1 year
Number of followers
0
Documents
105
Last sold
-

0.0

0 reviews

5
0
4
0
3
0
2
0
1
0

Recently viewed by you

Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their tests and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can instantly pick a different document that better fits what you're looking for.

Pay as you like, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

Student with book image

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

Working on your references?

Create accurate citations in APA, MLA and Harvard with our free citation generator.

Working on your references?

Frequently asked questions