CMGT 570 Project Management Fall Semester 2018 Final Paper

Cmgt 570 Project Managementfall Semester 2018final Paperassignedmo

Answer the following questions using the information presented in class and available in the text. This paper is open-book and open-note and is to be completed individually. Late paper submissions, without prior approval, will not be accepted or graded. It is expected that each question can be answered by a short paragraph consisting of four to six sentences, or by a list of items each with an accompanying explanation. Submission: Each paper is to be individually prepared, be single space typewritten and submitted via e-mail as a single PDF file. Each paper must include a cover page with course and student information, and each page must have a footer with the student’s name and page number. Begin each question with a restatement of the question and ensure answers are complete and confined to each page.

Paper For Above instruction

Project management involves complex processes that require careful classification, scheduling, resource allocation, and control strategies. The initial step in understanding project scheduling problems is to classify projects based on their unique challenges and complexities. Two primary classifications include projects with fixed deadlines and those with flexible timelines. Fixed-deadline projects demand stringent adherence to schedules, often leading to increased risk of delays if issues arise, while flexible projects can accommodate some schedule adjustments.

Resource leveling and smoothing are techniques used to optimize resource utilization while maintaining project timelines. However, these approaches have disadvantages. Resource leveling can extend the project duration, potentially increasing costs and delaying delivery, and may create conflicting priorities among tasks. Similarly, resource smoothing might require re-sequencing activities, which could compromise project scope and quality, complicating the project management process.

Project managers should exercise caution when using the splitting scheduling technique, which involves dividing activities into segments to increase flexibility. While it can help manage delays and resource conflicts, excessive splitting can complicate project schedules, increase management overhead, and reduce the clarity of progress tracking, ultimately leading to confusion or miscommunication.

Identifying resource scheduling problems before project implementation is crucial because early detection allows for proactive resolution, minimizing costly delays and resource conflicts during execution. Anticipating issues enables adjustments to be made in project plans, improving the likelihood of meeting project goals efficiently and effectively.

When a project spends $50,000 against a budget of $45,000 and is a week ahead of schedule, it does not necessarily indicate success. Cost overruns can offset the benefits of schedule acceleration, as the project may have overspent resources or incurred additional costs. Conversely, being ahead of schedule might not compensate for the over-expenditure if the budget constraints are strict. Therefore, a comprehensive assessment of both schedule and budget status is essential to evaluate project health accurately.

Reducing project duration can be motivated by several reasons, including meeting stakeholder deadlines, reducing costs associated with prolonged project timelines, gaining competitive advantage, addressing technical issues promptly, improving cash flow, and responding to external market pressures. Each reason emphasizes the importance of timely project delivery for strategic or operational benefits.

Crashing involves accelerating project activities by allocating additional resources to reduce the overall project duration. Crash time refers to the shortest possible time to complete an activity with additional resources, typically involving overtime or specialized labor. Crash cost is the increased expense incurred by applying these additional resources. The goal is to achieve the maximum schedule compression at the minimum incremental cost.

While adding resources to reduce project duration can be effective, project managers must be cautious as over-allocation can lead to diminishing returns, increased complexity, and resource conflicts. Additional resources may cause coordination problems, communication breakdowns, or overburden team members, ultimately impairing project performance.

Scheduling overtime to add more labor hours presents disadvantages such as increased labor costs, employee fatigue, reduced productivity due to burnout, and potential quality issues. Long working hours may also negatively impact team morale and lead to higher attrition rates, undermining team stability and project continuity.

A project network is sensitive when small changes in activity durations significantly impact the overall project schedule. This sensitivity is crucial for project managers who need to compress or extend timelines because it indicates areas where delays or accelerations are most likely to have substantial effects, enabling more focused recovery or crashing strategies.

Managing a project involves coordinating tasks, resources, and stakeholder expectations, while leading a project entails motivating, communicating, and inspiring the team. Although related, they are not identical. Managing focuses on processes and control, whereas leadership emphasizes vision and interpersonal influence. Effective project managers need both skills to succeed, so they are complementary rather than the same.

The five organizational currencies include time, talent, information, relationships, and political support. These currencies represent intangible assets that organizations leverage to achieve strategic goals, influence decisions, and facilitate project success. Recognizing and managing these currencies helps project managers navigate organizational dynamics effectively.

Management by wandering (walking) around involves informal, spontaneous communication with team members and stakeholders. It fosters relationship-building, issue identification, and a better understanding of ongoing activities. For project managers, this technique promotes transparency, quick problem resolution, and a culture of openness, enhancing overall project performance.

The traits associated with successful project management include leadership, communication skills, adaptability, organizational ability, decision-making, client focus, negotiation skills, problem-solving, planning, and integrity. Developing these traits enables project managers to lead teams effectively and navigate complex project environments.

While these traits are often innate, they can also be learned through education, coaching, and experience. Formal training, mentorship, and practical application help develop skills such as effective communication, leadership, and decision-making, supporting the notion that all these traits can be cultivated with concerted effort.

The four steps to creating a control process include establishing performance standards, measuring actual performance, comparing performance against standards, and taking corrective action as needed. This systematic approach helps ensure project objectives are met and deviations are addressed promptly.

If a project is over budget by 10%, it doesn't automatically indicate trouble. It could be due to scope changes or one-time costs, and the project might still be on track if schedule and quality objectives are met. However, it warrants close monitoring and analysis of cost drivers, with corrective actions planned if overruns threaten project success.

Schedule variance (SV) in dollars indicates the monetary value of the schedule performance but does not directly measure time. Despite this, SV remains useful because it quantifies the cost impact of schedule delays or accelerations, helping managers understand financial implications and prioritize corrective actions.

Scope creep refers to uncontrolled changes or continuous growth in a project's scope, which can threaten project control by increasing costs, delaying schedules, and undermining objectives. Managing scope changes is vital to maintaining project scope, schedule, and budget integrity.

A rubber baseline is an adjustable project baseline that is modified after the fact to justify performance deviations. It undermines project control because it masks true project performance, giving a false impression of progress and making it difficult to identify issues or enforce accountability.

Before evaluating a project team, conditions such as clear objectives, defined roles, effective communication channels, and a culture of trust and openness must be in place. These conditions create an environment where feedback is constructive, and lessons learned are genuinely integrated into project improvements.

During project closure, the project manager keeps the team focused through continuous communication, recognizing accomplishments, and emphasizing remaining deliverables. Ensuring clear priorities and maintaining motivation until project completion helps meet stakeholder expectations and ensures a smooth transition.

Using an independent facilitator to gather and implement lessons learned provides objectivity, enhances credibility, and encourages open communication. It facilitates unbiased feedback, promotes better identification of lessons learned, and supports systematic process improvements for future projects.

The six barriers to effective lessons learned include lack of leadership support, poor documentation, inadequate communication, organizational politics, time constraints, and resistance to change. Addressing these barriers is essential to embed learning processes into project management practices.

The five common parts of a final project report are project objectives, methodology, results, lessons learned, and recommendations. The lessons learned section is often the most valuable as it directly contributes to improved practices and prevents recurring mistakes in future projects.

References

• Kerzner, H. (2017). Project Management: A Systems Approach to Planning, Scheduling, and Controlling. Wiley.
• PMI. (2013). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (5th ed.). Project Management Institute.
• Heldman, K. (2018). Project Management JumpStart (4th edition). Wiley.
• Meredith, J. R., & Mantel, S. J. (2014). Project Management: A Managerial Approach. Wiley.
• Schwalbe, K. (2018). Information Technology Project Management (9th ed.). Cengage Learning.
• Larson, E. W., & Gray, C. F. (2017). Project Management: The Managerial Process. McGraw-Hill Education.
• Turner, J. R. (2014). The Practice of Project Management. Routledge.
• Russell, R. S. (2016). Project Management: Cases, Applications, and Best Practices. Wiley.
• Wysocki, R. K. (2014). Effective Project Management: Traditional, Agile, Extreme. Wiley.
• Kerzner, H. (2014). Using the Project Management Maturity Model. Wiley.