Week 12 Questions

Project Management

1. Explain the triple constaint and its importance in project management.

A project's vision needs to be clear, concise and comprehensible and the same to all stakeholders. Projects consunme vast amounts of resources. It is imperative to understand how the organisation allocates its scarce and vaulable resources in order to get the big picture.
There are three primary variables in any project - time, cost and scope. These variable are interdependent. All projects are limited in some way by these three constraints. The project Management Institute calls the framework for evaluating these competing demands the triple constraint.



Triple Constraint - Project Management Interdependent Variables



2. Descibe the two primary diagrams most frequently used in project planning

The two primary diagrams most frequently used in project planning are PERT and Gantt charts.

PERT Chart
A PERT (program evaluation and review technique) chart is a graphical network model that depicts a project's tasks and the relationships between those tasks. PERT charts define dependancy between project tasks before those tasks are scheduled. PERT charts frequently display a projects critical path (a path from the start to the finish that passes through all the tasks that are critical to completing the project in the shortest amount of time).

Gantt Chart
A Gantt chart is a simple bar chart that depicts project tasks against a calender. In a Gantt chart, tasks are listed vertically and the project's time frame  is listed horizontally. A Gantt chart works well for representing the project schedule. It also shows actual progress of tasks against the planned duration.

PERT Chart vs. Gantt Chart

3. Identify the three primary areas a project manager must focus on managing to ensure success

A project manager must focus on three primary areas to ensure success:

• People - resolving conflicts within the team and balancing the needs of the project with the personal and professional needs of the tearm are two of the challeneged facing project managers. Many times, the people management side of project management makes the difference in pulling off a successful project.
• Communications - the key to excellent project management. The project manager must plan what they are going to communicate as a formal part of the project management plan. An important aspect of a project management communications plan is to provide a method for coninually obtaining and monitoring feedback from and for all stakeholders.
• Change - successful organisation and people learn to anticipate and react appropriately to change. Effective chain management is a critical core competency. Change management is a set of techniques that aid in evolution, composition and policy management of the design and implementation of a system.

4. Outline 2 reasons why projects fail and two reasons why projects succeed.

Reasons for Failure:

• Unrealistic expectations - when a company does not align their expectations with reality there is a high risk of failure, and the business generally ends up disappointed
• Poor project management - If the project is not managed correctly, that is organised and well structured, then it's chances of success are limited

Reasons for Success:

• Good communication - this is a vital element of any project, as the communication accross a team needs to be clear and understood in order for the project to be successful
• Good project management - when a project is well managed, organised, on time and within financial budgets, it is very likely to succeed