Man 4583 exam 2 questions - Study guides, Class notes & Summaries

MAN 4583 Exam 1 - Baz UCF Questions and Answers Already Passed MODULE 1 What constitutes a project? What is a project? • Temporary endeavor: beginning and end • Creates a unique product • Not a continuous operation! A project is a unique endeavor that has a specific goal, a beginning and an end, and usually a budget. Distinguish between projects and operations: A project is any that produces a specific end result and is temporary; always have a beginning and an end. An Oper...

MAN 4583 Final Exam UCF Questions and Answers Already Passed What is an uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives? Risk What are the 3 steps in understanding risks? 1. Hold a brainstorming session 2. Industry specific risk categories 3. Look at WBS and identify risks by tasks or group of tasks What are the four ways to manage project risk? Develop a risk management plan 1. Identify risks 2. Perform qualitative & quantitative...

MAN 4583 Final Exam UCF Questions and Answers Already Passed What is an uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives? Risk What are the 3 steps in understanding risks? 1. Hold a brainstorming session 2. Industry specific risk categories 3. Look at WBS and identify risks by tasks or group of tasks What are the four ways to manage project risk? Develop a risk management plan 1. Identify risks 2. Perform qualitative & quan...

What is a Project Network - A flow chart that graphically depicts the sequence, interdependencies, and start and finish times of the project job plan of activities that is the critical path through the network. What are some of the things to be considered in the critical path? - scheduling labor and equipment communication project's duration budgeting cash flow Identifies critical activities What is an activity? - An element of the project that requires time. What is a merge activi...

Creating the project schedule is incredibly important because once your sponsor approves it, the schedule will serve as a baseline for all the project work you and your team perform. List each activity on its own post-it note, and make sure that each activity has a name (the more self-explanatory, the better!) that is that is short and begins with a verb. String electrical wires (SEW) put any activities that can start immediately (in other words, they don't depend on any other project activi...

In a bottom-up approach, the estimated duration of project activities is based on __________ A. Work Packages B. the Budget C. Strategic Business Units D. the Schedule A. Work Packages Which of the following is NOT true about a network diagram? A. To construct it, activity duration estimates are unnecessary B. It illustrates logical dependencies among project activities C. It is necessary for identifying the critical path D. It shows start & finish calendar dates of project activities D. It s...