Project Management Concepts | My Assignment Tutor


Term 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 1 of 23Instructions Sheet1. Write all answers in the spaces provided in this examinationpaper.2. Answer all eight questions.Term 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 2 of 23TOTAL 50 MARKSStudents MUST answer all EIGHT questions.Write ALL answers in the space provided in this examination paper.Question 1 5 Marks(a) According to Larson et al., a project life cycle typically passes through fourstages. Briefly describe the major activities and deliverables in the projectclosure stage. (3 marks)Question 1 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 3 of 23Question 1 continued(b) What is meant by the “triple constraints” in a project? (1 mark)(c) Give an example of the “trade-offs” between the triple constraints. (1 mark)Term 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 4 of 23 Question 25 Marks(a) Explain what is involved in “portfolio management” and discuss at least twobenefits of good portfolio management.(3 marks) (b) What does it mean if net present value (NPV) for a project is negative?(1 mark)(c) Project A has a NPV of +$54,000, project B has a NPV of -$20,000, project Chas a NPV of +$70,000 and project D has a NPV of -$80,000. Assuming allother factors are equal which project would you select if you had to choosebetween project A, B, C and D? Explain. (1 mark)Term 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 5 of 23Question 3 6 Marks(a) Why is it important to assess the culture of an organisation before decidingwhat project management structure (matrix, dedicated team or functional)should be used? In your answer you must discuss what would influence yourdecision and what structure(s) you would recommend in different culturalenvironments. (2 marks)(b) How does the culture of an organisation influence the quality of estimates? Inyour answer discuss at least two cultural aspects of an organisation thatinfluence the quality of estimates and explain how these would impact on thequality of the estimates. (2 marks)Question 3 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 6 of 23Question 3 continued(c) There are four basic treatment strategies for dealing with negative project risks.Briefly describe each strategy. (2 marks)Term 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 7 of 23Question 4 6 Marks(a) What is “scope creep” and what is the likely impact of scope creep on aproject? (2 marks)(b) How can “scope creep” be reduced? (2 marks)(c) What is quality assurance? (1 mark)(d) What is quality control? (1 mark)Term 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 8 of 23Question 5 6 Marks(a) How can the project manager and organisations (parent organisation and/orprofessional bodies) influence the ethical behaviour of a project team and itsteam members? (2 marks)(b) Normally highly cohesive teams are the most productive. However, there areproblems that can be experienced by highly cohesive teams. One of the pitfallsis called “groupthink”. Briefly describe what is meant by “groupthink”. (1 mark)(c) If you were managing a highly cohesive team project team exhibiting symptomsof “groupthink” what are two strategies you might employ to improve thesituation? (1 mark)Question 5 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 9 of 23Question 5 continued(d) Compare traditional project management with agile project management bycircling the appropriate answer in each cell of the table below. (2 marks) TraditionalAgileDesignUpfront/ContinuousUpfront/ContinuousUncertaintyHigh/LowHigh/LowScopeFixed/FlexibleFixed/FlexibleChangeEmbrace/AvoidEmbrace/Avoid Term 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 10 of 23Question 6 6 MarksThis question relates to the project described in the network diagram and resourcerequirements table below.Question 6 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 11 of 23Question 6 continuedResource Requirements TaskResources (workers) requiredfor the duration of the taskA2B2C3D2E1F3G1H1I4 Assume that the number of workers required for a task does not change for theduration of the task.(a) Complete the table below to show the current resource requirements for theduration of the project. (2 marks) MONTHS1234567891011121314151617181920ABCDEFGHITotalnumber ofworkers Question 6 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 12 of 23Question 6 (continued)(b) What is the total number of “worker months” for this project? (1 mark)(c) You are informed that resources are constrained for the project and you canonly have a maximum of 5 workers working on the project at any one time.Perform resource constrained scheduling for this project. Show the final result inthe table labelled “Final Answer”. You are provided with extra tables to showyour working. (2 marks) MONTHS1234567891011121314151617181920ABCDEFGHITotalnumber ofworkers Question 6 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 13 of 23Question 6 continued MONTHS1234567891011121314151617181920ABCDEFGHITotalnumber ofworkers MONTHS1234567891011121314151617181920ABCDEFGHITotalnumber ofworkers Question 6 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 14 of 23Question 6 continued MONTHS1234567891011121314151617181920ABCDEFGHITotalnumber ofworkers Final Answer: MONTHS1234567891011121314151617181920ABCDEFGHITotalnumber ofworkers (d) Has the resource constrained scheduling had an impact on the sensitivity of thenetwork? Explain you answer.(1 mark)Term 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 15 of 23Question 7 7 MarksThese questions are based on the following network diagram for a project:Question 7 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 16 of 23Question 7 continued(a) Given that the customer would like the project completed in 35 weeks,complete the table below listing the following values for each activity: earlieststart time (ES), earliest finish time (EF), latest start time (LS), latest finish time(LF), total slack (TS). (3 marks) ActivityESEFLSLFTSABCDEFGHIJ (b) What is the most critical path(s) for this project? (If there is more than one path,list the activities on each path separately.) (1 mark)Question 7 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 17 of 23Question 7 continued(c) Only the activities in the following table can be shortened (crashed). They canall be crashed by up to 2 weeks. The costs to crash each activity are shown inthe table. ActivityCost to shorten task by 1 weekA$1200B$300C$2000D$250F$700G$900H$600I$400 Note that activities not listed in the table cannot be crashed.i. You are required to shorten the project in the network diagram by 1week less than your earliest finish time for the smallest possible cost.What activity or activities would you shorten/crash to achieve thereduction in the project duration of 1 week and why? You must explainyour choice(s). (1 mark)Question 7 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 18 of 23Question 7 continued ii.You are then asked to shorten the project in the network diagram by asecond week. What activity or activities will you shorten to reduce the project by a second week and why? You must explain your choice(s). (1 mark)(d) In some circumstances it may be possible to shorten the critical path and alsosave money. Explain when this could occur.(1 mark)Term 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 19 of 23Question 8 9 MarksThe formulae required to answer this question are provided in the table below. ValueDescriptionFormulaEVEarned ValueEV =% completed *original budgetCVCost varianceCV = EV-ACSVSchedule VarianceSV = EV-PVCPICost performance indexCPI =EV/ACSPISchedule performance indexSPI =EV/PVEACfForecasted estimate ofcompletion or forecasted costat completion (if we continueat the same efficiency on theproject)EACf = AC + [(BAC-EV)/CPI]BAC is the total planned value ofthe project This question relates to the following network diagram and baseline budget table.Question 8 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 20 of 23Question 8 continued ActivityTotalBudgetedCostMONTH1234567891011121314A202020B1515151515C10101010101010D5510151055E1025302510F3030TotalCumulative Table 1: Budget Table (values are in thousands of dollars)Question 8 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 21 of 23Question 8 continued(a) Complete the following table to provide a status report for the project at the endof month 9: (3 marks) End of Month 9ActivityActual %completeEV(EarnedValue)AC(ActualCost)PV(PlannedValue)CV(CostVariance)SV(ScheduleVariance)A100%46B100%80C90%55D20%35E90%90F0%0Cumulative totals Table 2: Status Report (Actual costs are in thousands of dollars)(b) Based on the data in tables 1 and 2 (and any necessary calculations you needto perform using this data), complete the following assessment of the projectstatus at the end of month 9 by completing (i) – (vi) in the sentences below.You are required to either fill in the dollar value in the blanks or circle thecorrect answer where you are given a choice of answers. Note: Whenanswering the questions below requiring a dollar value, show the exact amount(e.g. $100,000) not in thousands of dollars as shown in Tables 1 and 2.Show all your working clearly in Tables 1-2 and in the space provided at theend of the question.The project is currently (i) $ (ii) (under) / (over) budget and isgetting (iii) $ worth of work for each dollar spent. (2 marks)Question 8 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 22 of 23Question 8 continuedThere is (iv) $ worth of (v) (additional work that has been done)/ (work that was supposed to have been done that has not been done).(1 mark)If the project continues at the same rate of efficiency calculated by the CPI, theforecasted cost at completion would be (vi) $ . (1 mark)Show your working for part (b) below:CPI :Forecasted cost at completion:Any other calculations:Question 8 continued over pageTerm 1 Standard Examination 2018Project Management Concepts – PPMP20007Page 23 of 23Question 8 continued(c) Based on the status data in part (b) what are the issues (if any) that the projectmanager must deal with? Discuss the status of the project overall and also bespecific. If there are particular activities that are of concern, discuss thoseactivities. (1 mark)(d) If this project has a priority matrix that is time-constrain, scope-enhance,cost-accept, what should the project manager do? (1 mark)– End of paper –

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