What is project management‚ and what are its main objectives? What is the relationship between tasks and events‚ or milestones? What is a work breakdown structure? How do you create one? What are task patterns‚ and how can you recognize them? Compare the advantages and disadvantages of Gantt and PERT/CPM charts. Define the following terms: best-case estimate‚ probable-case estimate‚ and worst- case estimate‚ and describe how project managers use these concepts. How does a project manager calculate
Premium Project management
However‚ in Scrum‚ there is a group which works on the project to achieve its aim. It works in full coordination with each other and comprises of professionals including software developers‚ product owners and experts from various fields. The basic difference between Project Management Professional (PMP) and Scrum is that the former tries to plan everything direct and straight‚ the later can bring about changes in the project during the process of development. This is rather a complex procedure and
Premium Project management Software engineering Software development process
What is a project schedule? A project schedule consists of a list of project (terminal) elements with an intended start and finish dates. The project terminal elements are the lowest element within a schedule that are not subdivided but estimated in terms of a resource requirement‚ a budget and duration. The project schedule is use by the project manager as a tool for the work breakdown structure known as the WBS. The project schedule remains preliminary until the resource assignments have been
Premium Project management Work breakdown structure
Chapter 1.Introduction 1.1 Research background One of the most critical issues facing today ’s employer is cost-effective sales training. Many firms are substantially increasing investment in sales training; however‚ little research has studied the usage and effectiveness of various sales training methods. There are numerous methods and materials available to help prepare and equip employees to better do their jobs. Indeed‚ with so many choices out there‚ it can be daunting to determine
Premium Sales Qualitative research
the software project‚ technical infrastructure project‚ and the combined projects. To better interpret the results of the EVA‚ you may choose to graph the cumulative spending over time for the software project‚ technical infrastructure project‚ and the combined projects. 3. Answer The questions below: 3.1. Which of the two components are underperforming according to the plan? How do you know this? 3.2. Are the components of the project within budget? How do you know? 3.3. What can you conclude
Premium Project management Plan Management
Waterfall vs Agile Development A Director of IT Programs at a large Aerospace Defense contracting company has been asked to develop a financial system that allows the Program Managers for the company to do their Earned Value Analysis. The development of this system will allow the company to manage their programs more efficiently and maintain the Government certification of their Earned Value systems. If the company loses their certification the government can withhold 5% of their profits on
Premium Waterfall model
**What is NPV?** a) If the value of NPV is greater than 0‚ then the project is a go! In other words‚ it’s profitable and worth the risk. b) If the value of NPV is less than 0‚ then the project isn’t worth the risk and is a no-go. So NPV takes risk and reward into consideration‚ which is why we use it in the world of corporate finance and capital budgeting. **Example** In order for us to calculate NPV‚ let’s use the following example. Suppose we’d like to make 10% profit on a 3
Premium Net present value
Strategic Portfolio Management and its Influence on Project Management In a project based organization‚ project management is directly controlled by strategic portfolio managers and a portfolio management department. This type of organization focuses on project development‚ progress and successful completion in relation to the strategic goals determined by top management. Multiple project proposals are constantly evaluated in terms of value‚ alignment to corporate strategies‚ and availability
Premium Project management Management
THE ROLE OF RISK MANAGEMENT IN PROJECT MANAGEMENT Risk Risk is an uncertain event or a set of circumstances whose occurrence will have an impact on achievement of one or more of the expected project goal and objectives. Probability – A risk is an event that "may" occur. The probability of it occurring can range anywhere from just above 0 percent to just below 100 percent. Impact – A risk‚ by its very nature‚ always has a negative impact. However‚ the size of the impact varies in terms
Premium Risk management Project management Risk
CHP:1 INTRODUCTION What is Stress? Stress is a complex phenomenon. It has been defined in many ways‚ but simply put; it is the wear and tear of everyday life. In everyday’s life people are subjected to a wide range of pressures. Similarly there are also a wide range of resources and strategies for coping with pressure. Sometimes people cope well and will not feel that the pressure is having any adverse effect upon them. At other times they will have difficulty in dealing with the
Premium Stress Management