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Project Management

Project management is the discipline of planning, organizing, securing and managing resources for the successful completion of certain project objectives and goals. Its main challenge is to reach all engineering project objectives and goals while honouring project constraints.

Asked in Job Interviews, Job Applications, Project Management

How do you answer 'How did you go about planning for a recent event or project you handled' in a job interview?

The answer that I would give would follow general project management guidelines. First, identify what the objective is and time line for completion, then determine what you will need to solve the problem, information, facts, tools, resources. Gather the various elements, analyze and prioritize, link appropriate data, determine a direction, how and where to get missing information or additional resources, complete the task making adjustments along the way. In every aspect planning must be given a special consideration in order for a project to...
Asked in Project Management

What are the three project team structures?

A Project Team usually has the following people (as a bare minimum) One Project Manager One or more Project Leads/Technical Architects Many Team Members Depending on the organization where the project is being executed, the teams actual structure and the roles and responsibilities may vary. ...
Asked in Business Plans, Database Programming, Project Management

Why is delegation an important management concept?

No one person can do it all. It is important to share the work around and to make sure that subordinates can do the work and the business can functions when the management are not there, on holiday or leave the organisation. It is important to consider succession planning and to look at growing some of your next managers from within (otherwise your best staff will not see any promotion opportunities). It is a good way to provide on the job training...
Asked in Project Management

Why is slack important to the project manager?

Slack is important when managing a project because it's is very rare that things don't change while working on a project. Budgets change, schedules change, available resources change and so do task priorities. Without slack time it'll be very challenging to be able to manage the project in a flexible way without causing tasks to be stuck or not have time to handle urgent things that were introduced (that weren't planned ahead of time). ...
Asked in Project Management

Why is hard to control Discretionary Cost?

Organisations have to keep working so as to improve the living standards of people in the society and also to be competitive in the market. Therefore, most of the discretionary costs are bound to be incurred. For e.g. Research & Development, and organisation needs to spend this cost so as to find new methods of working, improve the technology etc. Another example could be training. ...
Asked in Business Plans, Project Management

What do you do after a feasibility study?

A feasibility study essentially determines the strengths and weaknesses of a business proposal. The output is normally a series of options or recommendations, ranging from do nothing, right through to technical development and project implementation, delivery and support. Importantly the feasibility study should also include the evaluation criteria, list of assumptions, study findings and context in which the study was run. As often happens, something considered not viable today, can often become viable with changing circumstances in the future. Always useful to keep...
Asked in Project Management

What does disruptive coloration mean?

When a population of of organisms have a special coloration or pattern that help them blend together so that it makes it harder for a predator to pick out any one individual. ...
Asked in Project Management

How corporate downsizing effect project management?

It can influence it in two ways: There will be fewer resources available to work on a project. It could be that critical resources (people holding a specific expertise) will not be available anymore and so the team will need to be reorganized. Many time people decide to lose the Project Manager hoping that the tasks will move forward without someone managing the process, maybe shifting responsibilities to other team members (product manager, team leaders etc). ...
Asked in Business Plans, Management and Supervision, Project Management

Difference between quality management and project management?

Quality Management is a subset of Project Management. Quality Management consists of quality planning, assurance, and control. Managing projects requires applying knowledge, skills, and tools and techniques to project activities in order to meet the project objectives. You do this by performing some processes at various stages of the project, as discussed in the previous chapter. That means processes are part of the knowledge required to manage projects. Each aspect of a project is managed by using the corresponding knowledge area. For example, each...
Asked in Project Management

What is EVM and how will you use it in managing projects?

EVM is Earned Value Management. Different steps in the project are assigned percentages of the complete work. E.g.: Designing a feature gives you 10%, starting to code another 10%, finishing coding another 30%, etc. By tracking EVM you can have a fairly accurate feeling as to the process of the project. A common technique to assess cost variance is called the earned value technique (EVT), also called earned value management (EVM). It is a commonly used method of performance measurement that has various forms....
Asked in US Constitution, Business Plans, Project Management

What does Audit Committee Terms of Reference mean?

It's the only way to define, focus and limit the terms of any audit committee Will it simply monitor? Will it try to detect fraud? Will it just balance the books? or any combination of functions ...
Asked in Business & Finance, Business and Industry, Management and Supervision, Project Management

Why is management theory important?

Management theory is important because it is the study of how to make all the people in your organization more productive. If you are self-employed and have others working for you, or you outsource certain jobs you are unable to do, then you know how hard it is to find qualified competent professionals to provide you a service or work for you. You want to maximize labor productivity and learning how to manage people is key. The key to business management is...
Asked in Project Management

Which is a better certification PMP or six sigma?

Both have their own importance and usage. PMP is for people who are project managers while Six Sigma is for people who are quality oriented ...
Asked in Business Plans, Economics, Project Management

What is the importance of strategic management towards the success of a business?

Strategic management used to play a different role in more predictable times after the Second Word War. Strategic plans of the past usually range 3 to 5 years. Some companies could even have plans for 10 good years. That's not possible today given rapid evolution of our society. What still matters in strategic management lies in the value of planning ahead. There's an old saying that if you fail to plan, you are planning to fail. By acting on this, strategic management actually...
Asked in Project Management

What is project cloverleaf?

A conspiracy theory with no evidence to support it at all.
Asked in Project Management

Vendor is not a key project stakeholder?

A Vendor is a Key Project Stakeholder. Let us say I am constructing an apartment and have chosen a Vendor to supply the toilet sinks for my building, if my vendor messes up the delivery, my apartment will not be completed on time. Sure, I can identify another vendor and buy the stuff I want, but a lot of time will be lost in the meantime. Hence, even vendors are key project stakeholders ...
Asked in Business and Industry, Management and Supervision, Project Management

Whaqt is level 1 project schedule?

Executive Summary, also called a Project Master Schedule (PMS). This is a major milestone type of schedule; usually only one page, it highlights major project activities, milestones, and key deliverables for the whole project. It is used to summarise the project schedule in reports and other documents when a more detailed schedule is not required. Frequently developed by the 'client' as part of its initial feasibility studies for the project and then maintained by the contractor; may be used to assist in the decision making process...
Asked in Project Management

Why do projects always seem to take longer than expected?

Many people use their most optimistic estimate of time to decide how long something should take, instead of the conservative or midrange estimate. Most also don't include extra time for things like slow days, errors, late tasks, and the like. Other examples can include: A task may take more than once to get right; People under estimate issues like change management and putting corrective actions in place; People can concentrate on the critical path tasks, and then forget to look at the problem holistically,...
Asked in Health, Business Plans, Project Management, The Difference Between

What is the difference between CPM and PERT?

The Major Differences and Similarities between PERT and CPM PERT(Program Evaluation and Review Technique) | CPM (Critical Path Method) _____________________________________ | ______________________________________ 1)PERT is a probabilistic tool used with three 1)CPM is a deterministic tool, with only single Estimating the duration for completion of estimate of duration. activities. _______________________________________________________________________________ 2)This tool is basically a tool for planning 2)CPM also allows and explicit estimate of and control of time. costs in addition to time, therefore CPM can control both time and cost. _______________________________________________________________________________ 3)PERT is more suitable for R&D related 3)CPM is best suited for...
Asked in Sales and Customer Service, Management and Supervision, Project Management

How do you work out commission structures?

Make sure you paying it from profits and not from capital. Also, know your break even point in the business and depending on your business and what you do, ie if there is a basic salary a staff member receives then it would make sense to only start paying a commission once break even has been reached. If not, just focus on paying from profits. The short answer is "however you want". Commissions are payed either on gross profit, net profit, or...
Asked in Management and Supervision, Project Management

What is passive management by exception?

Management-by-exception (passive) - Is a form of leadership in which the leader intervenes only if standards are not met and only take action after rules have been broken or mistakes are "brought to their attention." ...
Asked in Auto Loans and Financing, Repossession, Project Management

When purchasing a vehicle can you change to another vehicle if the papers have been signed but the financing not yet finalized?

absolutely but, beware..dealerships will try to get you to buy no matter what. even after the papers are finalized and you have even gevin them a down payment you can still either change cars or get out of the deal entirely. remember this, once that car is driven off the lot...then it is yours. they will say things to get you to buy it today and drive it home because they know that once you leave the lot its yours and...