Week 12: Project Management

1. Explain the triple constraint and its importance in project management.

The triple constraint is the framework for evaluating the competing demands of cost, time and scope. The relationship between these variables is such that if any one of the three factors changes, at least one other factor is likely to be affected. For example, increasing the scope of a project may result in an increase in time and/or cost. It is important consideration of project management as all projects are limited in some way by these three interdependent constraints. A project manager must make intelligent trade-offs between time, cost and scope.

(Above: http://projectmanagementblog.globalknowledge.com/2009/06/01/triple-constraints-model)

2. Describe the two primary diagrams most frequently used in project planning.

PERT (Program Evaluation and Review Technique) chart is a graphical network model that depicts a project's tasks and the relationships between those tasks. PERT charts frequently display a project's critical path; the critical path is a path from the start to the finish that passes through all the tasks that are critical to completing the project in the shortest amount of time.

(Above: http://en.wikipedia.org/wiki/Pert)

Gantt chart is a simple bar chart that depicts project tasks against a calendar, with tasks listed vertically and the project's time frame listed horizontally.

(Above: http://support.sas.com/rnd/app/or/pm/gantt.html)

3. Identify the three primary areas a project manager must focus on managing to ensure success.

A project manager must focus on managing people, communications and change to ensure success.

4. Outline two reasons why projects fail and two reasons why projects succeed.

Two reasons why projects fail:

• Scope creep: the projects grows beyond its intended size resulting in time delays and increased costs.
• Poor planning: a failure to properly plan can be detrimental to the success of a project. Good planning uses tools such as a project plan (a formal document that manages and controls project execution), Gnatt charts and PERT charts.

Two reasons why projects succeed:

• Change management: A project managers ability to anticipate and react appropriately to change will better position a project for success.
• Communication: good communication is essential for the success of a project. A project manager should distribute timely, accurate and meaningful information regarding project objectives that involve time, cost and scope and quality, and the status of each.