examsheet.docx

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Department
Global Management Studies
Course Code
GMS 450
Professor
Armand Gervais

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Description
financial methods – payback period. Outflow/inflow = PBP… discounted cash flow NPV = -I + sum (netcash in period/(1+k)^period k = discount/rate of return. . 4 phases – initiation, planning/development, execution(implementation), closeout (terminate) . 1. Goals, specs, tasks ,responsibilities, 2. Schedule, budget, resources, risk, staffing, 3. Status reports, changes, quality, forecast. 4.train customer, transfer document, evaluation, lesson learned, .Burst Activity: an activity that has more than one activity immediately following it (more than one dependency arrow flowing from it). Parallel (Concurrent) Activities: Activities that can occur independently and, if desired, not at the same time. Critical path: the longest path through the activity network that allows for the completion of all project-related activities; the shortest expected time in which the entire project can be completed. Delays on the critical path will delay completion of the entire project. Event: a point in time when an activity is started or completed. , top down overall project cost estimated by estimated costs of major tasks, adv. Accuracy of estimating overall budget. Errors need not be individually identifieBottom up – WBS, those responsible estimate resource requirements, adv. More accurate in detailed tasks, disadv. Risk of overlooking tasks. activity budgeting, based on historical data based on activity based accounting system, program budgeting – each project divided by task and time period. Learning curves T  T n r where Tn= the time required to complete the n unit T 1 the time n 1 required to complete the first unit r = log(learning rate)/log(2)Failure Mode and Effects Analysis (FMEA)Impact × Probability × Detection = Risk Value Expected value - E = value x probability of outcome. Forward Pass—Earliest TimesHow soon can the activity start? (early start—ES) How soon can the activity finish? (early finish—EF) How soon can the project finish? (expected time—ET)Backward Pass—Latest Times How late can the activity start? (late start—LS) How late can the activity finish? (late finish—LF) slack = ls – es or lf- ef Function of Gantt Chart - illustrates a project schedule. illustrate the strt and finish dates of the terminal elements and summary elements of a project. WBS - deliverable oriented decomposition of a project into smaller components. critical path method (CPM) is an algorithm for scheduling a set of project activities. RACI describes the participation by various roles in completing tasks (responsible, accountable, consult, inform. Project Network Diagram- sequence in which a project's terminal elements are to be completed Failure Mode and Effects Analysis (FMEA) was one of the first systematic techniques for failure analysis Type of estimates, top down (macro) – analogy, group consesnsu, mathematical relationship, Botom up micro) estimate elements of WBS. Macro better for decision making, high uncertainty, internal, small projects, and unstable scope.. micro is better for cost and time importance, customer wants details, fixed price contract. Weighted average time standard deviation b= pessimistic propbability of completing project. S – scheduled. E – critical path duration. Project Termination - Project Extinction project activity suddenly stops because it has been successfully completed or has a high expectation of failure Termination-by-addition when an in-house project is successfully and is institutionalized as a new formal part of the organization Termination-by-integration the output of the project becomes a standard part of the operating system of the sponsoring firm or the client Termination-by-starvation occurs when it is impolitic to terminate a project but it’s budget can be squeezed until it is a project in name only Pseudoactivities are those which have duration but require no resources Fast Tracking - an expediting technique in which one phase of the project is started before preceding p
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