1. Identify several resources that may need to be considered when scheduling projects.

● Financial Resources: Budget allocation and financial planning are crucial resources to
consider for project scheduling. This includes funds for procurement, equipment, materials,
and other project-related expenses.
● Equipment and Tools: Project schedules need to account for the availability and allocation of
specific equipment and tools required for the project. This can include specialized machinery,
technology infrastructure, software licenses, and hardware.
● Materials and Supplies: Projects often require various materials and supplies, such as raw
materials, components, consumables, and office supplies. Planning and scheduling should
consider the timely procurement and delivery of these resources to ensure smooth project
execution.
● Technology and Information Systems: Depending on the project's nature, scheduling should
account for access to necessary technology infrastructure, software systems, databases, or
other information systems needed for data processing, communication, or analysis.
● Expertise and Skills: The availability of skilled personnel and subject matter experts is critical
for project success. Scheduling should consider the availability of individuals with specific
expertise, certifications, or qualifications required to perform certain tasks or provide
guidance.
● Space and Facilities: Apart from office space, some projects may require specific facilities,
such as labs, workshops, testing environments, or specialized rooms. Availability and
scheduling of these spaces need to be considered to ensure efficient project execution.
● Suppliers and Vendors: When projects involve outsourcing or procurement from external
suppliers or vendors, their availability, lead times, and coordination should be factored into the
project schedule.
● Stakeholder Availability: Project schedules should consider the availability and involvement of
key stakeholders, including project sponsors, clients, decision-makers, and other relevant
parties who may need to provide inputs or approvals at various stages of the project.
● Regulatory and Legal Considerations: Projects that operate within regulated industries or
require adherence to specific legal requirements need to account for compliance-related
resources, such as obtaining permits, certifications, or legal documentation.
● Time and Calendar: Time itself is a critical resource to consider when scheduling projects.
This includes defining project milestones, deadlines, and task durations to ensure efficient
utilization of time and timely completion of deliverables.

1. Define "Monitoring":
Monitoring refers to the process of systematically observing, tracking, and evaluating the progress,
performance, and outcomes of a project or task. It involves collecting and analyzing data, comparing it
against predetermined standards or targets, and identifying any deviations or areas requiring
corrective action. The purpose of monitoring is to ensure that the project remains on track and that
issues or risks are identified and addressed in a timely manner.

2. Describe the three variances of an earned value chart and explain their significance:
In earned value management (EVM), an earned value chart provides a visual representation of the
project's performance by tracking three key variances:

● Schedule Variance (SV): Schedule variance measures the difference between the earned
value (EV) and the planned value (PV) at a given point in the project. It indicates whether the
project is ahead or behind schedule. SV = EV - PV. A positive SV indicates being ahead of
schedule, while a negative SV indicates being behind schedule.
● Cost Variance (CV): Cost variance measures the difference between the earned value (EV)
and the actual cost (AC) at a given point in the project. It shows whether the project is under
 or over budget. CV = EV - AC. A positive CV indicates being under budget, while a negative
CV indicates being over budget.
● Cost Performance Index (CPI): The cost performance index is the ratio of earned value (EV)
to actual cost (AC). CPI = EV / AC. It indicates the cost efficiency of the project. A CPI greater
than 1 indicates cost efficiency, while a CPI less than 1 indicates cost inefficiency.
These variances help project managers assess the project's progress, identify potential issues, and
make informed decisions regarding schedule and cost management.

3. What is the purpose of "earned value":

The purpose of earned value is to provide an objective measurement of a project's progress and
performance. It integrates project scope, schedule, and cost information to determine the value of
work accomplished in relation to the planned value. By comparing the earned value to the actual cost
incurred, earned value analysis helps assess project efficiency, identify potential problems, and make
data-driven decisions for effective project control.

4. Describe the various ways that earned value can be found:

Earned value can be determined using different methods:
● Planned Value (PV): Also known as the budgeted cost of work scheduled (BCWS), PV
represents the authorized budget for the planned work scheduled to be completed at a
specific point in the project schedule.
● Earned Value (EV): Also known as the budgeted cost of work performed (BCWP), EV
represents the value of the work actually accomplished or completed at a specific point in
time. It is based on an objective measurement of completed work.
● Actual Cost (AC): Also known as the actual cost of work performed (ACWP), AC represents
the actual cost incurred in completing the work at a specific point in time. It includes all direct
and indirect costs.
These values are used in earned value analysis to calculate variances, performance indices, and
other key metrics for project monitoring and control.

5. What are the three main types of control system? What questions should a control
system answer?
Input Control System: This type of control system focuses on the project's inputs or resources. It
ensures that the necessary resources are available and effectively utilized. The key question that an
input control system answers is, "Do we have the necessary resources for the project?"
Process Control System: Process control systems monitor and control how project activities and
processes are carried out. They ensure that the project is proceeding as planned and that activities
are carried out in an efficient and effective manner. A process control system's primary function is to
answer the question, "Is the project progressing as planned?"
Output Control System: Output control systems evaluate the project's results and outputs. They
compare the achieved results to the project's objectives and success criteria. The main question that
an output control system answers is, "Did we achieve the desired results?"

6. What tools are available to a project manager to use to control a project?

*Gantt Charts: Gantt charts visually display project schedules, tasks, and dependencies, allowing
project managers to track progress and identify potential scheduling issues.
*Earned Value Management (EVM): EVM provides metrics and techniques to assess project
performance and variances, enabling project managers to monitor and control project scope,
schedule, and cost.
*Critical Ratio Charts: Critical Ratio Charts depict the ratio of time remaining to complete a task or
activity compared to the available time. It helps identify tasks that are at risk of delay or potential
bottlenecks.
Risk Management: Risk management tools, such as risk registers and risk assessment matrices,
help identify, analyze, and mitigate project risks to minimize their impact on the project's success.
Change Control Systems: Change control tools, including change request forms and change logs,
facilitate the management and control of changes to project scope, requirements, and deliverables.
Communication and Collaboration Tools: Tools such as project management software,
collaboration platforms, and communication channels help project managers stay connected with
team members, stakeholders, and track project progress in real-time.
Quality Management Tools: Quality control and assurance tools, such as checklists, inspections,
and quality metrics, help ensure that project deliverables meet the specified quality standards.

7. Primary Objective of the Oresund Bridge project:

The primary objective of the Oresund Bridge project was to construct a combined bridge and tunnel
link between the cities of Copenhagen in Denmark and Malmo in Sweden, creating a direct
connection between the two countries across the Oresund Strait. The primary goal was to establish a
reliable and efficient transportation infrastructure that would enhance connectivity, facilitate
cross-border trade, and improve regional integration.
Ancillary Objectives of the Oresund Bridge Project:
● Economic Development: The project aimed to stimulate economic growth and development in
the region by improving transportation networks, attracting investments, and fostering
business opportunities between Denmark and Sweden.
● Social Integration: The bridge aimed to promote social integration and cultural exchange by
facilitating easier travel and interaction between residents of Copenhagen and Malmo. It
aimed to enhance collaboration and strengthen social ties between the two communities.
● Environmental Considerations: The project also aimed to address environmental concerns by
reducing the dependence on air travel and car traffic, thereby minimizing carbon emissions
and promoting sustainable transportation options.
● Tourism and Recreation: The Oresund Bridge aimed to enhance tourism and recreational
activities in the region by providing easy access to popular tourist destinations, scenic spots,
and leisure facilities on both sides of the strait.
● Infrastructure Development: The project sought to improve the overall infrastructure in the
region, including roads, railways, and utilities, to support the efficient operation of the bridge
and ensure smooth transportation flow.
● Symbol of Cooperation: The Oresund Bridge project served as a symbol of collaboration and
cooperation between Denmark and Sweden, highlighting their shared commitment to regional
development and integration.
8. Suppose your team has just completed a new product development. What are the
dimensions of this product project?
Project Efficiency:
● Meeting time goals: Assessing whether the project was completed within the planned
timeframe.
● Meeting budget goals: Evaluating whether the project was completed within the allocated
budget.
Customer Satisfaction:
● Meeting operational specification: Verifying if the product meets the intended operational
requirements.
● Meeting technical specification: Ensuring that the product meets the specified technical
standards.
● Fulfill customers' needs: Determining if the product addresses the needs and requirements of
the target customers.
● Solve major operational problems: Assessing whether the product successfully resolves
significant operational challenges.
 ● Actually used by the customer: Evaluating the adoption and utilization of the product by the
customers.
● Customer satisfaction: Assessing customer feedback and satisfaction levels with the new
product.
Business Success:
● Level of commercial success: Evaluating the financial performance and market acceptance of
the new product.
● Generated a large market share: Determining the extent to which the product captured a
significant share of the market.
Future Potential:
● Opened a new market: Assessing if the new product successfully entered and established a
presence in a previously untapped market.
● Opened a new line of products: Determining if the new product development project led to the
creation of a new product line within the organization.
● Developed a new technology: Evaluating whether the project resulted in the development or
advancement of new technologies that can be leveraged in future projects.

9. What is the success of your team assignment project in consideration of four

dimensions of project success?
● Efficiency: The efficiency dimension assesses whether the project objectives were achieved
with minimal efforts and within the allocated time. To determine the project's efficiency, you
would need to evaluate factors such as adherence to deadlines, effective resource utilization,
and meeting the project's objectives within the given timeframe. If your team successfully
completed the assignment within the required time and resources, it can be considered
efficient in this dimension.
● Satisfaction: The satisfaction dimension focuses on the satisfaction of the lecturer, who acts
as the customer in this scenario. To determine satisfaction, you would need to consider
factors such as meeting the lecturer's expectations, delivering high-quality work, and
receiving positive feedback. If the lecturer is satisfied with your team's assignment,
considering its quality and alignment with their expectations, it can be seen as successful in
this dimension.
● Business Success: In the context of your team assignment project, the business success
dimension refers to the contribution of the project to the success of the course. This can be
evaluated by considering factors such as the impact of the assignment on your overall course
performance, the relevance of the project to the course objectives, and the value it adds to
your learning experience. If the project positively influenced your course success and
contributed to achieving the intended learning outcomes, it can be seen as successful in this
dimension.
● Future Potential: The future potential dimension considers the project's implications for future
opportunities such as advancement to the next advanced course or graduation. This
dimension assesses whether the assignment serves as a prerequisite or stepping stone for
further academic or career advancement. If the successful completion of the team assignment
project opens up future opportunities, such as progressing to the next course or meeting
graduation requirements, it can be deemed successful in this dimension.

10. What is resource loading? How does it differ from resource leveling?
- The level of demand placed on individual resources during a specific time interval in a project
schedule is referred to as resource loading.
- The goal of resource leveling is to reduce fluctuations in resource demand caused by a project.
- Current and prospective employees may prefer to work somewhere else where the
The environment has become more stable. It’s expensive to alter the employment relationship
in the case of any resource.
Resource Consumption:
The process of allocating resources, such as personnel, equipment, or materials, to specific tasks or
activities within a project schedule is referred to as resource loading. It entails determining the
quantity and timing of resources needed for each task. The goal of resource loading is to ensure that
the project schedule is feasible and that the required resources are available when they are needed.
The following procedures are involved in resource loading:
a. Identifying the project's tasks or activities.
b. determining the types and quantities of resources needed for each task.
c. Assigning resources to tasks based on their availability and needs.
d. Estimating the total resource requirements for the project.
The end result of resource loading is a detailed resource allocation plan that specifies which
resources are assigned to which tasks and when.

Resource distribution:
Resource leveling is a technique used to address resource conflicts or imbalances that may arise
during the project execution phase. It aims to optimize resource allocation by adjusting the project
schedule to avoid resource overutilization or underutilization. The goal is to smooth out resource
usage over time to reduce resource demand peaks and valleys.
Resource leveling entails the following procedures:
● Recognizing resource conflicts, such as when multiple tasks require the same resource
simultaneously or when demand for help exceeds availability.
● Examining the project timeline and resource constraints to determine the scope of the
conflicts.
● Changing the timing of tasks or activities to resolve resource conflicts. This may entail
delaying specific tasks, dividing them into smaller parts, or rearranging the sequence of
activities.
● Re-evaluate the schedule and resource allocation to ensure a balanced and feasible plan.
● The result of resource leveling is a revised project schedule that takes into account resource
constraints and aims to create a smoother resource utilization pattern.
In summary, resource loading focuses on initially assigning resources to tasks based on their
requirements, whereas resource-leveling aims to balance resource demand and availability by
adjusting the project schedule. Both techniques are required for effective resource management in
project planning and execution.

Resource Loading Resource Leveling

Purpose Assigning resources to tasks in a Balancing resource demand and

project schedule availability

Goal Ensure resource availability and Optimize resource allocation and

feasibility of the schedule minimize conflicts

Focus Initial resource allocation Adjusting the project schedule

Steps 1. Identify tasks<br> 1. Identify resource conflicts<br>

2. Determine resource 2. Analyze schedule and
requirements<br> constraints<br>
3. Assign resources to tasks 3. Adjust task timing<br>
4. Re-evaluate schedule

Outcomes The detailed resource allocation plan Revised project schedule

Key Resource requirements and availability Resource demand, constraints, and

considerations utilization
 Timing Done during the project planning phase Done during the project execution
phase

Objective Ensure tasks have the necessary Smooth out resource utilization and
resources minimize peaks

11. What is the most important task for top management to do in bottom-up budgeting?
The most important task for top management in bottom-up budgeting is to provide guidance and
oversight. To summarize, top management is critical to guiding and overseeing the bottom-up
budgeting process in order to ensure strategic alignment and effective resource allocation.
● Communicating strategic goals to ensure the budget is aligned with company objectives.
● Establishing clear budget guidelines and parameters for departments.
● Creating resource allocation criteria in order to prioritize projects and initiatives.
● Examining and challenging departmental budgets to ensure accuracy and alignment.
● Increasing collaboration and coordination across departments.
● Prioritization and budget consolidation based on strategic importance and available
resources.
● Budget execution is tracked and monitored, and variances and risks are addressed.

LONGER VERSION:
The most important task for top management in bottom-up budgeting is to provide guidance and
oversight throughout the process. While bottom-up budgeting entails the participation and input of
various teams and departments within an organization, top management is critical in setting the
overall direction and ensuring alignment with strategic goals. Here are some key bottom-up budgeting
tasks for top management:
● Communicate strategic objectives: Top management should clearly communicate to all
departments and teams the organization's strategic objectives, priorities, and financial targets.
This ensures that the budgeting process is in line with the company's overall goals.
● Establish budget guidelines: Executives must establish clear budgeting guidelines and
parameters for departments to follow. Budget assumptions, cost drivers, performance metrics,
and any specific guidelines or constraints to consider during the budgeting process are all
part of this.
● Provide resource allocation criteria: Top management should define resource allocation
criteria among departments. Prioritizing specific projects, initiatives, or departments based on
strategic importance, potential returns, or other relevant factors may be involved.
● Review and challenge departmental budgets: Top management should review and analyze
each department's budget. This entails investigating the budget proposals' assumptions,
justifications, and expected outcomes. If necessary, top management should challenge or
question proposed budgets to ensure that they are realistic, aligned with strategic goals, and
adequately support the organization's financial health.
● Encourage collaboration and coordination: During the budgeting process, top management
should encourage departmental collaboration and coordination. This includes facilitating
communication, resolving conflicts, and promoting a shared understanding of organizational
priorities and resource constraints.
● Consolidate and prioritize budgets: After all departmental budgets have been submitted, top
management must consolidate and prioritize the budgets based on strategic importance,
financial feasibility, and available resources. This includes making budget allocation, trade-off,
and resource distribution decisions across departments.
● After the budget has been finalized and approved, top management should monitor and track
budget execution throughout the fiscal year. This includes analyzing budget variances,
identifying potential risks or deviations, and implementing corrective actions as needed.
 12. Assume your team has recently completed new product development. What are the
primary and secondary outcomes that your team may have obtained?
Primary Outcomes:
● Product Development: The successful creation and development of a new product.
● Product that is both functional and marketable: The product meets all requirements and is
ready for sale.
● Improved Product Performance or Efficiency: Improved product performance or efficiency.
● Creation of new intellectual property, such as patents, is an example of intellectual property.
Ancillary Outcomes:
● Specifications and documentation: Comprehensive documentation for future reference.
● Product quality and compliance were ensured through quality assurance.
● Market Research and Analysis: Using research to make informed decisions.
● Collaborative Teamwork: Improved teamwork and problem-solving abilities.
● Knowledge and Experience: Acquired knowledge and experience for future projects.
● Customer Satisfaction and Feedback: Customer satisfaction was measured and feedback
was obtained.

LONGER VERSION:
Primary Findings:
● Product Development: The primary outcome is the successful creation and development of
the new product itself. This includes product design, prototyping, and manufacturing to
specifications.
● Product that is functional and marketable: The new product meets the functional requirements
and specifications that were defined during the development process. It is ready for market
introduction and provides value to potential customers.
● Improved Performance or Efficiency: When compared to existing alternatives, the new
product may have improved performance, functionality, or efficiency. This can be a significant
selling point as well as a competitive advantage.
● Intellectual property: Your team may have created new intellectual property during the
development process, such as patents, copyrights, or trade secrets, which can provide legal
protection and exclusivity for your product.
Ancillary Results:
● Documentation and specifications: Your team may have created extensive documentation and
specifications outlining the new product's design, features, and manufacturing processes.
These documents will be used as references in the future for production, maintenance, and
support.
● Quality Assurance: Your team ensures that the new product meets the required standards
and complies with regulations through rigorous testing and quality control measures. This
contributes to consumer confidence in the product's dependability and safety.
● Market Research and Analysis: Your team may have conducted market research during the
development process to identify customer needs, analyze competitors, and validate the
product's market potential. This information can guide marketing and sales strategies.
● Collaborative Teamwork: Completing a new product development successfully necessitates
effective collaboration and teamwork. Your team may have formed strong bonds, improved
communication, and fostered an environment of innovation and problem-solving.
● Knowledge and Expertise: The knowledge, skills, and expertise gained during the new
product development process are invaluable to your team. This understanding can be applied
to future projects, promoting continuous improvement and innovation.
● Customer Satisfaction and Feedback: Launching a new product allows you to collect
customer feedback and measure customer satisfaction. Positive customer feedback and
adoption can indicate a new product's success.