What is project management and why are companies turning to project management?
ID: 342679 • Letter: W
Question
What is project management and why are companies turning to project management?
What is the definition of a project?
What is the definition of a process? Can you compare and contrast a project vs process?
Describe what a project manager does?
Describe how programs and projects are related What are the 6 information elements of a project?
What is a critical path method of scheduling?
What does a forward pass mean? What does a backward pass? What basic information do you need to critical path?
Define what a RAM mean? What is the purpose of WBS and OBS?
What is control account and What is a work package? What is a resource? How do resources drive the cost of the project?
What are the basic types of a resource What do project cost, other investment cost, management reserve, and total project cost?
What do the mean and how are they related? What is the difference production and capital project?
Explanation / Answer
Answer:- The Project Management Methodology allows companies to select the delivery organization to tackle these projects smartly, thoroughly, and in a well-organized manner that mitigates and allows acceptable risk. This methodology provides benefits at the strategic, tactical and operational levels.
Answer:- Process in which all aspects of a proposed project are explored to examine the relationship between activities, events, durations, and costs. Areas of uncertainty or conflict are identified,
Answer:- The main activities performed by project manager are as below:-
Performing the basic project plan
Monitoring the progress of the project as decided in the project plan
Managing any change in the basic project plan
Maintaining the project workbook
Conveying the present status of project
Answer:- A critical path can be seen as the sequence of the project activities which are combined to the longest duration irrespective of the longest duration has any kind of float or not. It estimates the shortest possible time in which the project can be completed.
Answer:- Forward pass can be seen as a method for moving forward through a diagram for determining the activity duration.
Backward pass can be seen as a method for moving backward through a diagram for determining the activity duration.
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