(1, 2) – Major Programmes and Projects: Resources & Project Life Cycles

Question 1

What are the main types of resources which need to be considered when setting up a project or programme?

Answer 1

Personnel
ICT
Equipment
Plant
Premises
Financial budgets and funding sources

Question 2

What is resource loading and resource levelling?

Answer 2

• Assigning resources to activities based on individual resources that are required during specific periods
• Resource levelling is scheduling and reorganising activities so demand can be met efficiently

Question 3

When resourcing a project, what three criteria can be used to assess the effectiveness of the resource deployment?

Answer 3

• Resource utilisation managing peaks and troughs
• Schedule slippage time delivered after due date
• Resource effectiveness work delivered compared to resources utilised

Question 4

What problems did Eli Goldratt note in the way projects can run?

Answer 4

Safety margin - is built in which may not be necessary
Student syndrome - things take as long as the estimate
Passing on - late finishes get passed on
Postponements - activities which can be postponed generally do

Question 5

What is Eli Goldratts ‘Critical Chain’?

Answer 5

An approach to project management to combat behavioural issues:

• Identify constraints - e.g. capacity of a machine required for all parts
• Remove buffers - build a general buffer into the project rather than into activities
• Manage critical activities - ones which prevent the project being completed

Question 6

What is Cash Burn?

Answer 6

Cash burn is in the early stages when projects have a high rate of expenditure to get started and resources mobilised.

Question 7

What options are there for financing a project?

Answer 7

Debt finance – typically from banks, usually has interest

Equity finance – a form of capital injected by investors who own a stake in the business

Question 8

What is the Weiss and Wysocki proposed 5 stages of a life cycle?

Answer 8

Definition (project overview and objective definition) >
Planning (focuses on providing a work breakdown, identifying the critical path, estimating costs) >
Organising (obtaining resources, recruitment, undertaking work assignments) > Controlling (estalishes >
Controlling (establishes control tools and mechanisms, carry out reviews and understand variance) >
Closing (installing deliverables, issuing final report, conducting a review)

Question 9

What 3 key elements must be identified at the “Definition” of a project?

Answer 9

Objectives – clear, measurable and quantifiable
Scope – what will be covered, what won’t be?
Strategy – how the objectives will be met

Question 10

How can projects be “Organised”, give 3 examples?

Answer 10

Functional – project assigned to function with PM reporting into Head of Function
Project – team is separated from organisation and a self-contained unit, PM has authority over workforce
Matrix – cross functional teams with staff from over organisation

Question 11

What is RACI?

Answer 11

RACI is a commonly used tool for assigning roles and responsibilities during a project. A person is assigned to each box:
Responsible – responsible for performing task
Accountable – ultimately accountable for the task being done
Consulted – people whos input is needed to complete the task
Informed – people who are informed of the status of the task

Question 12

Control within a project is essential to ensure resources are used effectively; activities are undertaken and completed on time. What 3 types of control system are there?

Answer 12

1. Cybernetic control System (Based on measuring outputs compared to standards and reporting deviations)
2. Go/no-go control system (Based on checking whether particular conditions/standards have been met. If they are met then project is allowed to continue)
3. Post-control (Takes place after the event to ensure actions have been taken)

Question 13

The final stage of a project is closing, what is involved in closing a project? Why might projects terminate early?

Answer 13

A project should be measured against agreed targets to see if it met the original objectives. Some projects terminate early because:

• A cut in funding
• Personnel being withdrawn
• Objectives are no longer relevant