BBA 3626 Unit III Assessment

BBA 3626 Unit III Assessment

6. Identify what three time management processes need to be accomplished even if you use scheduling software and explain why.

Although scheduling software can be very helpful within the scheduling process the three time management processes of activity definition, activity sequencing, and activity duration estimating must still be accomplished. Activity definition simply means defining all of the various work activities and it is crucial within this step not to omit any single work activity. To develop this, the team needs to continually ask what else needs to be done until they research the lowest level possible. After the activities are defined the process of putting them into sequence begins. This is accomplished by determining the most logical order in which activities need to be accomplished. Once the activities are defined and placed in a sequence, the activity duration estimating phase can begin. One key aspect to accurately estimating durations is that each activity should be evaluated independently (Kloppenborg, 2015).

Reference:

Kloppenborg, T.J. (2015). Contemporary project management (3rd ed.). Stamford, CT: Cengage Learning.

7. List at least four potential problems in creating accurate duration estimates for activities. Describe at least two methods for dealing with each potential problem

Numerous potential problems can arise when creating duration estimates for projects, some of which are: omissions, general uncertainty in estimates, special cause variation, and common cause variation (Kloppenborg, 2015).

Remedies for omissions can include refining scope and work breakdown structure (WBS), using checklists/templates, playing devils advocate, and by applying lessons learned. The work breakdown structure (WBS) is essentially a tool used by project teams to progressively divide deliverables within a project into smaller and smaller pieces (Kloppenborg, 2015).

Two remedies to general uncertainty in estimating include rolling wave planning and learning curve. “Rolling wave planning is an iterative planning technique in which the work to be accomplished in the near term is planned in detail, while the work in the future is planned at a higher level” (Kloppenborg, 2015, p. 156). The concept behind learning curve is a simple one stating that the more times a person accomplishes a specific task, the better they will be at performing the task. This concept is applied to activity duration estimating because the rate of improvement can be studied and predicted (Kloppenborg, 2015).

Remedies to special cause variation include risk analysis and the resolution of risk events. Risk analysis involves deciding which risks are major and should be managed more carefully, and which risk are minor and can be handled in a more casual manner. Identifying risks and implementing appropriate corrective actions will aid in reducing and resolving associated risk events (Kloppenborg, 2015).

Common cause variation can be remedied using a number of techniques, including program evaluation and review technique (PERT), and Monte Carlo simulation tools. PERT allows teams to better understand how specific variables within the individual activity durations will impact the entire project schedule (Kloppenborg, 2015). Monte Carlo simulation is “a process which generates hundreds of thousands of probable performance outcomes based on probability distributions for cost and schedule on individual tasks. These outcomes are then used to generate a probability distribution for the project as a whole” (Kloppenborg, 2015, p. 191).

Reference:

Kloppenborg, T. J. (2015). Contemporary project management (3rd ed.). Stamford, CT: Cengage Learning.

8. Identify advantages and disadvantages of Monte Carlo simulation. Also, define Monte Carlo simulation.

Monte Carlo simulation is “a process which generates hundreds of thousands of probable performance outcomes based on probability distributions for cost and schedule on individual tasks. These outcomes are then used to generate a probability distribution for the project as a whole” (Kloppenborg, 2015, p. 191). One major advantage to Monte Carlo simulation is its great flexibility. It allows for more realistic estimates while providing a greater extent of information regarding individual activities, the overall project, and different aspects of the project that may turn critical. Disadvantages to Monte Carlo include the amount of time the simulation takes to estimate not just a most likely duration for an activity, but an entire range of outcomes. Additionally, Monte Carlo requires a great deal of specialized software and skill to use the program (Kloppenborg, 2015).

Reference:

Kloppenborg, T. J. (2015). Contemporary project management (3rd ed.). Stamford, CT: Cengage Learning.

9. Describe the five factors that may limit how fast a project can be completed. Give an example of each.

The five factors that can limit how fast a project can be completed are: logical order, activity duration, resource availability, imposed dates, and cash flow. Logical order simply describes the logical order for which specific activities need to be completed. For example, you need to load a gun with bullets before you can shoot it. Activity duration concerns how long each individual activity will take to complete. It concerns methods for estimating durations, problems with estimates, and remedies to these problems. Setting a time cap for loading the gun with ammo before shooting would be one activity duration. Resource availability identifies the amount of vital resources available at specific points throughout a project. Key resources for the gun scenario would be how much ammo id available each time the gun is required to be loaded. Imposed dates concerns considerations for holidays, work schedules, planned downtime, and required completion dates among other things. If the gun being fired operates on government ammo, and the government is out of ammo until the new fiscal year starts, then this must be considered. The final factor is cash flow, which describes how projects cannot start until money has been approved. Cash flows can slow progress until the required revenue arrives to cover expenses. If a gun range is required to be built to fire the weapon and cash flows do not provide for the range to be funded, then the firing of the weapon might be delayed (Kloppenborg, 2015).

Reference:

Kloppenborg, T. J. (2015). Contemporary project management (3rd ed.). Stamford, CT: Cengage Learning.