PROJECT MANAGEMENT MIDTERM

Question 1

Pros and cons of functional and projectized structure

Answer 1

Functional:

Advantages
No structural change
Flexibility
In-depth expertise
Easy post-project transition

Disadvantages
Lack of focus
Poor integration
Slow
Lack of ownership

Projectized:

Advantages
Simple
Fast
Cohesive
Cross-Functional Integration

Disadvantages
Expensive
Internal Strife
Limited Technological Expertise
Difficult Post-Project Transition

Question 2

Project Scope Checklist

Answer 2

1.1 Project objectives (SMART)
1.2 Deliverables
1.3 Milestones
1.4 Technical requirements
1.5 Limits and exclusions
1.6 Reviews with customer

Question 3

List the two broad approaches (main groups of methods) for estimating times and costs. For each approach, list and explain briefly one specific method

Answer 3

Types of Estimates
1. Top-down (macro) estimates: analogy, group
consensus, or mathematical relationships

Are usually derived from someone who uses
experience and/or information to determine the
project duration and total cost.

2. Bottom-up (micro) estimates: elements
   of the work breakdown structure

Can serve as a check on cost elements in the WBS
by rolling up the work packages and associated cost
accounts to major deliverables at the work package
level.

Question 4

Estimating

Answer 4

The process of forecasting or approximating the time and
cost of completing project deliverables.
–The task of balancing expectations of stakeholders and
need for control while the project is implemented.

Question 5

Organizational Breakdown Structure (OBS)

Answer 5

–Depicts how the firm is organized to discharge its
work responsibility for a project.

Question 6

Project Scope

Answer 6

–A definition of the end result or mission of the project—a
product or service for the client/customer—in specific,
tangible, and measurable terms.
–The range of the area that the project deals with
–What is included in the project AND what is not included

Question 7

Purpose of the Scope Statement

Answer 7

–To clearly define the deliverable(s) for the end user.
–To focus the project on successful completion
of its goals.
–To be used by the project owner and participants
as a planning tool and for measuring project success.

Question 8

SMART

Answer 8

Specific, Measurable, Achievable, Realistic, Time related