Manage Project Time

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Help 1 Manage Project Time
Assessment Task 1 Instructions as provided to students
Provide answers to all of the questions below:
1) Explain each of the following estimating techniques, and how each can be used to determine task duration and resource effort within a project.
a. Analogous Estimating
b. Parametric Model Estimating
c. 3 Point Estimating
d. Expert Judgment Estimating
e. Vendor Bid Analysis
f. Reserve Analysis
g. Bottom Up Analysis
2) Describe what the critical path of a project is, and explain the steps used to identify it using the Critical Path Method.
The procedure for identifying the critical path is:
Explain the steps in detail …
Step 1:
Step 2:
Step 3:
Step 4:
Step 5:
3) Explain the concept of a project baseline.
Consider the following points for your answer
A project baseline is a starting point that defines from where to begin the project,
how to judge obtained results each status reporting period, and
how to compare the project against initial expectations.
4) Explain the procedure for establishing project baselines
Consider the following points for your answer
1) active stakeholders involved in the execution side will meet to develop the baseline,
2) key assumptions,
3) clarifications and
4) key exclusion.
5) Explain how to manage adjustments to a project baseline due to a major change to scope or cost.
Consider the following points for your answer
once the project baseline is created it should not be changed anymore.
Keep Base line and create forecast
6) Explain how project variance is most effectively managed.
Consider the following points for your answer
Project managers should be thinking ahead and prevent variances were possible…
7) Summarise the project life cycle phases and describe each phase.
Initiation phase
Planning phase
Implementation (execution) phase
Closing phase
8) Summarise the following key tools for project scheduling
Some points to consider for the answer ..
a. Schedule Network Analysis
b. Critical Path Analysis
c. Schedule Compression
9) Explain three (3) best-practice time management methodologies. For each, summarise their capabilities, limitations, applications and outcomes
Consider theses points as minimum …
A. The 20/80 rule. The Pareto Principle
summarise their capabilities, Advantage
limitations, Disadvantage
applications and
B. Develop a solid risk management strategy.
C. Effectively delegate tasks.
D. Conduct productive team meetings.
E. Maintain an effective communication system.
F. The fudge factor.
10) Explain how a work breakdown structure is used to create project schedules.
The work breakdown structure provides a common framework (WBS)

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