Project Management in Matrix Organization: Roles, Risks, and Work Breakdown Structure, Exams of Nursing

Download Project Management in Matrix Organization: Roles, Risks, and Work Breakdown Structure and more Exams Nursing in PDF only on Docsity! PROJ 583 Week 8 Final Exam 1 (Multiple Choice and Explanatory) PROJ 583 Week 8 Final Exam 1 (Multiple Choice and Explanatory) Page 1 1. (TCO A) In the organization structure, the project manager is responsible for the project results, whereas the functional manager is responsible for providing the resources needed to achieve the results. (Points : 5) mixed-mode matrix autonomous project functional 2. (TCO H) What is the longest phase of the project life cycle? (Points : 5) Initiating Planning Performing Closing 3. (TCO B) The lowest level item of any one branch of the WBS is called a(n) . (Points : 5) object item task statement work package activity node 4. (TCO D) A is a predefined set of actions that will be implemented if the risk event occurs. (Points : 5) management proposal classification array contingency plan risk contingency matrix 5. (TCO F) the project involves measuring actual progress and comparing it to planned progress. (Points : 5) Planning Scheduling Forecasting Controlling 6. (TCO C) If is positive, it represents the maximum amount of time that the activities on a particular path can be delayed without jeopardizing the completion of the project by its required completion time. (Points : 5) PROJ 583 Week 8 Final Exam 1 (Multiple Choice and Explanatory) total time free time total slack cumulative slack 7. (TCO G) Which of the following is not an advantage of using project management software? (Points : 5) Accuracy The learning curve Speed Record keeping PROJ 583 Week 8 Final Exam 1 (Multiple Choice and Explanatory) B 4 months --- 0 4 0 4 0 C 4 months --- 0 4 3 7 3 D 1 month A 2 3 9 12 9 E 5 months B 4 9 4 9 0 F 2 months B, C 4 6 7 9 3 G 1 month C 4 5 8 9 4 H 3 months E, F, G 9 12 9 12 0 I 2 months D, E 9 11 12 14 3 J 2 months G, H 12 14 12 14 0 a) What are the critical path activities? (5 points) – B-E-H-J b) What is the project's scheduled completion time? (5 points) 14 Months Slack is calculated below using the formula Slack = (LF – ES – Duration) c) What is the slack or float for Activity A? Show your calculations. (5 points) Slack for Activity A = (LF – ES – Duration) = 9 – 0 – 2 = 7 d) What is the slack or float for Activity E? Show your calculations. (5 points) Slack for Activity E = (LF – ES – Duration) = 9 – 4 – 5 = 0 e) What is the slack or float for Activity F? Show your calculations. (5 points) Slack for Activity F = (LF – ES – Duration) = 9 – 4 – 2 = 3 f) What is the slack or float for Activity G? Show your calculations. (5 points) (Points : 30) Slack for Activity G = (LF – ES – Duration) = 9 – 4 – 1 = 4 Answer a) Critical path activities: B-E-H-J b) Project's scheduled completion time: 14 Months c) Slack for Activity A = (LF – ES – Duration) = 9 – 0 – 2 = 7 d) Slack for Activity E = (LF – ES – Duration) = 9 – 4 – 5 = 0 e) Slack for Activity F = (LF – ES – Duration) = 9 – 4 – 2 = 3 f) Slack for Activity G = (LF – ES – Duration) = 9 – 4 – 1 = 4 4. (TCO A) Part 1: Compare and contrast the responsibilities of a functional manager and a project manager in a matrix-type organization. (10 points) Part 2: A company manufactures furniture. Which organization structure is the most suitable? Why? (10 points) Part 3: An organization builds custom houses for urban-renewal areas. Which organization structure is the most suitable? Why? (10 points) (Points : 30) Answer Part 1 – In a matrix type organization, the team members report to both a functional manager and a project manager, with each manager being responsible for different aspects of the PROJ 583 Week 8 Final Exam 1 (Multiple Choice and Explanatory) project. The project manager manages the project and ensures that the project objectives are being met while and the functional manager manages the people, ensuring that the right set of resources are available are supported. The functional manager is responsible for the technical objectives, such as bringing in the required technical expertise that is needed to complete the project. Functional managers generally have a direct reporting relationship to the project team while the project manager does not, and hence must use a variety of management and facilitation skills to manage the team. Part 2 – Given that making different types of furniture requires very specialized technical and functional knowledge, and there are activities that are performed repeatedly, and there is not so much a need for interacting with other functions of the organization on a very regular basis with controlling the cost being a key project objective, the functional organization structure would be best suited for a company that manufactures furniture. Part 3 – Given that the work that is needed to build a custom house would be performed on site, and with team members needing to be on a project on a dedicated basis, with completion time of projects being very critical the projectized organization structure is most suitable as it brings in the close team working, in a dedicated fashion, with the various skills that are necessary to effectively complete the project. 5. (TCO D) A firm hosts data-mining servers and performs data mining for other companies that do not desire the costs of hardware, software, or expertise to data mine their data. The firm is planning to roll out faster data-mining software that will reduce the time to sift through customers' data by a fraction of the present time. Part 1: List and discuss the major risk-management functions from a project-management perspective for the data-mining software project. (15 points) Part 2: Describe a risk event, the consequences, and the risk-response plan for the data-mining software project. (15 points) Answer Part 1 – From a project management perspective for the data mining software project, the major risk management functions are discussed below - Risk Management Planning – The data mining project can use a risk management template if available in the organization to analyze the common risks that occur so that they can prepare for them, and which would help them start the risk management process - Risk Identification – The entire data mining project team should meet early in the project so that they can identify and discuss the various risks that they project could be exposed to - Qualitative and Quantitative Risk Analysis – Post identification of the risk, the team data mining project manager would determine the potential impact of each risk on the project that would help determine the risks that could cause the biggest impact and hence which need to be managed better - Risk Response Planning – Here the risks identified are then ranked in order of impact, the events that are to be managed identified and a response plan made for these events. This is essentially a guide that would help in being prepared with appropriate response should a risk event actually occur - Risk Monitoring and Control – The risks would need to be monitored throughout the project along with various strategies that would be best used for managing the risk. Therefore for the data mining project, at every stage of the project (such as design, analysis, development etc).the risk response plan must be updated, and various control strategies devised for the risks. Part 2 – A risk for the data mining project would be that the infrastructure that is needed (server, software, PROJ 583 Week 8 Final Exam 1 (Multiple Choice and Explanatory) licenses) are not available to installed in time, due to which the team cannot start working leading to delays in schedule and increase in project costs. Given that the impact of this risk is very high, and it has a high probability of occurrence as the project needs specialized infrastructure, this is a key risk that must be managed. The response for this risk is that infrastructure set up activities would be delegated (risk transfer) to the company IT team with they being informed in advance and having a deadline of getting this completed 5 days before project start. The project manager would be the person responsible for tracking and ensuring that this work gets completed, which would allow the development to start as per plan. 6. (TCO F) Analyze and compare the costs of the two projects in terms of performance efficiency, budget, and schedule. Make sure to show your calculations and analyze and explain the results. (Note: Providing just numbers will receive only partial credit.) Project A: The budgeted cost of work performed is $72,000, and the actual cost of work performed is $75,000. The budgeted cost of work scheduled is $73,000. (15 points) Project B: The budgeted cost of work performed is $48,000, and the actual cost of work performed is $100,000. The budgeted cost of work scheduled is $122,000. (15 points) Answer Project A – ACWP - $75,000 BCWS - $73,000 BCWP - $72,000 Cost Variance = BCWP-ACWP = 72000 – 75000 = -3000 CPI = BCWP/ACWP = 72000/75000 = 0.96 Schedule Variance = BCWP-BCWS = 72000 – 73000 = -1000 SPI = BCWP/BCWS = 72000/73000 = 0.986 From the above calculations, we can see that the project is slightly behind both in terms of its cost and schedule. The project would be performing as per cost and schedule if the CV and SV values are 0 and of CPI and SPI values are 1 and as we can see that the CV and SV values are negative and both CPI and SPI are less than 1, we can conclude that the project has slipped slightly and needs to do more to get back on track. Project B – ACWP - $100,000 BCWS - $122,000 BCWP - $48,000 Cost Variance = BCWP-ACWP = 48000 – 100000 = -52000 CPI = BCWP/ACWP = 48000/100000 = 0.48 Schedule Variance = BCWP-BCWS = 48000 – 122000 = -74000 SPI = BCWP/BCWS = 48000/122000 = 0.393 In case of project B, this project is also behind in terms of schedule and cost, as CV and SV values are negative, and the CPI and SPI values are less than 1. However, comparing both the projects together we can say that Project 1 is more efficient than Project 2,