Project Management

Question 1

What is project management?

Answer 1

Process of planning/ organising activities to help achieve objectives (planning, executing, monitoring, completing).

Question 2

What is CPA (Critical Path Analysis)?

Answer 2

Process of project network activities used to determine critical path.

Question 3

Explain the CPA diagram?

Answer 3

Circle split into 3, one half on the left and the other 2 on the right.
The half on the left is the node number.
The top right is the earliest start time.
The bottom right is the latest finishing time.
The arrow coming off the node shows the activity on top of the line and the amount of time taken to carry out this activity on the bottom.

Question 4

How do you work out the earliest start time?

Answer 4

EST of previous + activity duration

Question 5

Explain how the earliest start time of the CPA works?

Answer 5

When 2 activities meet, the highest EST is put down.
Last activities EST is total length of the project.

Question 6

How do you calculate the latest finishing time?

Answer 6

LFT of next activity - activity duration

Question 7

Explain the latest finishing time of the CPA?

Answer 7

When 2 activities meet, lowest LFT is put down.

Question 8

What is the critical path?

Answer 8

• sequence of activities which add up to overall duration.
• determines shortest time to complete project.

Question 9

What is float?

Answer 9

How much an activity can over run.

Question 10

What is total float?

Answer 10

Longest time activities start time can be delayed without affecting length of project.

Question 11

How do you calculate the total float?

Answer 11

LFT of activity - EST - duration

Question 12

What is free float?

Answer 12

Amount of time activity can be delayed without delaying the EST of next.

Question 13

How do you calculate free float?

Answer 13

EST of next activity - duration - EST of activity

Question 14

What are the advantages and disadvantages of CPA?

Answer 14

Advantages:
- simple/ visual way to show activities.
- identify critical activities.
- knowing EST, allows JIT.

Disadvantages:
- value of CPA depends on accuracy of activity times.
- critical activities may be bad quality (rush to get done).
- doesn’t show cost implications.

Question 15

What is a gantt chart?

Answer 15

Graphical representation of order and duration of tasks in project.

Question 16

What are Gantt charts used for?

Answer 16

• plan/ monitor progress.
• calculate how long task will take.
• show activities to be competed at given time.

Question 17

What are the advantages and disadvantages of Gantt charts?

Answer 17

Advantages:
- simple/ visual representation of project.
- see at glance what activities should happen at given time.

Disadvantages:
- cant see critical activities.
- cant see EST or LFT at glance.
- calculation of floats an be difficult.

Question 18

What is PERT analysis?

Answer 18

• tool used to schedule/ organise/ coordinate tasks in project.
• similar to CPA but more pessimistic in time taken for each task.

Question 19

How do you calculate PERT analysis?

Answer 19

(Optimistic time + 4 x most likely time + pessimistic time) / 6

(OT + 4 x ML + PT) / 6

Question 20

What are the advantages and disadvantages of PERT analysis?

Answer 20

Advantages:
- more realistic as pessimistic view.
- simple formula.
- lot of data can be visually represented to help decision making.

Disadvantages:
- guess work.
- complicated to use.