FINAL EXAMINATION

IN PROJECT MANAGEMENT

BINO, ABBYGAIL SHANE G.

BSOA 2-C

A.) Define a project with the help of an example.

This involves a thorough understanding of company resources and how to allocate them
to perform tasks, obligations, events, and other projects. A project is a collection of tasks that
must be accomplished in order to reach a specific objective or result. These activities may be
simple or complex, depending on the project's size and scope, but all projects can be broken
down into objectives and what needs to be done to fulfill them. Project management methods and
technologies are used in a wide range of sectors to complete projects. Construction, IT,
engineering, marketing, and advertising are just a few examples of these industries. Any group
that works together to achieve a common goal is involved in project management.

Project: A project is defined by PMI as "a temporary effort undertaken to create a unique
product or service" that must be completed in a logical sequence to meet established objectives
outlined by the client.

Example: building a petrochemical plant worthy of 100 million dollars at 30- month time
frame.

B. Explain briefly the Project Life Cycle and the phases involved with the help of an
example?

The purpose of the project life cycle is to complete project activities in order to achieve the
project's goals. Every project has a start, a middle stage during which actions take the project
closer to completion, and a conclusion. Initiation, planning, implementation, and closure are the
four major phases of a typical project. The project objective or requirement is defined at
initiation phase, which can be a business challenge. A study is undertaken to see if each option
address the project aims, and a final suggested solution is determined. The project solution is
further developed in as much detail as feasible in the next phase, the planning phase, and the
procedures required to achieve the project’s goal are planned. The activities, tasks, dependencies,
and timeframes are outlined in a project plan. By giving cost estimates for labor, equipment, and
the materials, the project manager organizes the production of a project budget. During project
implementation, the budget is utilized to track and regulate cost expenditures. It is important to
maintain control and communicate as needed during implementation. Progress is continuously
monitored and appropriate adjustments are made and recorded as variances from the original
plan. And last the final closure or completion phase, the emphasis is releasing the final
deliverables to the customer, handing over project documentation to the business, terminating
supplier contacts, releasing project resources, and communicating the closure of the project to all
stake holders

C. Explain with the help of a diagram the concept of the triple constraint and its effect on a
project.
THE COST
COST CONSTRAINT REFERS
ANSWERS: TO THE BUDGETED
AMOUNT AVAILABLE

THE

CONCEPT
SCOPE OF THE
TIM
TRIPPLE E

THE SCOPE
CONSTRAINT THE TIME CONSTRAINT
REFERS TO WHAT REFERS TO THE AMOUNT
MUST BE DONE TO OF TIME AVAILABLE FOR
PRODUCE THE TO COMPLETE A PROECT
PROJECT’S AND
These three constraints are often competing contrains, increased scope typically means
increases time and increased cost, a tight time constraint could mean increased cost and
reduced scope, and a tight budget could mean is increase time and reduced scope.

D. Explain briefly the project manager’s role and responsibilities.

A project manager is more than just a manager, in the traditional sense. This individual is the
leader of the project team and oversees every aspect of the project, from beginning to end. The
project manager will typically write the project plan, run team meetings, assign tasks and do
quality control tests to ensure everything is running smoothly. A project manager can’t carry the
entire project on their back, though. One of their key duties, in fact, knows how to entrust
various responsibilities to team members. With the help of their team, project managers will
create project schedules and budgets. They will also create project reports throughout the project
lifecycle.

As you can see, their responsibilities are widespread, but that doesn’t mean spreading too
thin. Ideally, a project manager creates the foundation of the project like the foundation of a
house. They then appoint other individuals to finish out each room.

Beside, managing the project effectively, he/she is expected to perform related roles by
leading, negotiating, communicating, running interface, prioritizing, and so on. The professional
responsibilities are: Professional conduct, integrity, responsibility for action of the team, self-
improvement, fairness, honesty, communication.

E. Describe briefly how and why the project originate.

Projects are born out of the desire to address human needs. A need appears and is recognized,
and management decides whether it is worthwhile to meet it. If this is the case, a project is set up
to meet the need. As a result, project needs are the primary motivator.

F. What are the four quantitative factors that are used for project selection, which tend to
focus on cost and explain each one of them with the help of an example,

-The four quantitative factors that are used for project selection are Net Present Value (NPV),
Payback period, Return of Investment and Makah/marks.

G. Explain in detail the needs assessment (functional and technical) and formulating Good
objectives using an example.
Needs assessment necessitates the existence of many levels of needs among the various project
stakeholders. This is due to the fact that everyone has distinct requirements. Consider the case of
a contractor who has been given a contract to construct a new bridge. This initiative serves the
needs of the client, the owner, the commuter, environmentalists, local politicians, and others. The
functional requirements are the things that the customer wants to happen. The project team
produces technical requirements to meet the technical needs.

Creating effective objectives: Objectives must be derived from carefully considered needs. They
should signify an agreement between individuals who require assistance and those who can offer
it. The five parts of the SMART model characterize well-developed objectives.

H. Describes Project Charter and Project Requirement Documentations and its relevance
to Project Management. Construct a sample Project Charter and Project Requirement
documents to explain your description.

-A project charter is a legal documents that begins a project or phase. It formally validates the
project’s existence and serves as a future reference point. From beginning to end, the charter
provides management with direction and a sense of purpose. The project requirements they
establish a foundation for product vision, scope, cost and schedule and they ultimately must
target finished product quality and performance.

I.Elaborate the statement “deliverable-oriented grouping of project elements that organizes

and defines the total work scope of the project. Each descending level represents on
increasingly detailed definition of the project work”. Also list the various benefit and
demonstrate your understanding by building a model.

-Deliverable – oriented means the project is result- oriented rather than task or activity –
oriented. Therefore, the focus is on productivity and achieving the target.

J. Explain in detail the Critical Path with the help of an example and demonstrate ways
spreading up the schedule whilst defining the term “crashing”

-The critical route is a series of interconnected job that has a direct impact on the project’s
completion deadline. If any critical route work is late, the entire project is late. It is also a string
of dates that regulates the project’s calculated start and finish dates. The project is finished when
the last critical route item is completed.