Essay on Project Mgt Chap 4

1961 Words May 7th, 2014 8 Pages
Chapter 4

Chapter Outline

1. Step one: Defining the project scope A. Employing a project scope checklist 1. Project objective 2. Deliverables 3. Milestones 4. Technical requirements 5. Limits and exclusions 6. Review with customer
2. Step two: Establishing project priorities
3. Step three: Creating the work breakdown structure A. Major groupings found in a WBS B. WBS development
4. Step four: Integrating the WBS with the organization
5. Step five: Coding the WBS for the information system
6. Project rollup
7. Process breakdown structure
8. Responsibility matrices
9. Summary
10. Key terms
11. Review questions
12. Exercises
13. Case: Manchester United
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3. What does it mean if the priorities of a project include: Time – Constrain, Scope-Accept, and Cost –Enhance?

The project must be completed on a specific date, the scope can be scaled back in order to meet cost and time objectives, and when possible seek opportunities to reduce costs.

4. What kinds of information are included in a cost account?

Cost accounts include one or more work packages linked to a deliverable and an organizing unit.

5. What kinds of information are included in a work package?

Work packages include the following types of information: a. work to accomplish a segment of the project b. time to accomplish the work package c. time-phased budget for the work package and total cost to complete the work package d. resources needed to complete the work package e. single person responsible for accomplishment of the work package f. monitoring points for measuring progress during implementation of the work package g. any specifications critical to the work package

6. What is a time-phased budget in a work package?

A time-phased budget for a work package is one that sets up cost (budget) for each time period over the duration of the work package. A time-phased budget for a work package is needed for primarily two purposes. A time-phasing work package budget is especially important in work packages over one-week duration. First, accounting and finance departments need

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