Project Management Cheat Sheet by RGKaden via cheatography.com/145791/cs/31442/Week 1 Projects are unique focusedobjective goal and temporaryThere are 3 main constraintson a project:
Trang 1Project Management Cheat Sheet by RGKaden via cheatography.com/145791/cs/31442/
Week 1
Projects are unique focused(objective goal) and temporaryThere are 3 main constraintson a project: time, cost andscope all impacting quality.A project has seven maincharacteristics:
1) uniqueness; 2) focused; 3) temporary; 4) change orientated; 5) integrating; 6) social constructed 7) has emergent aspects anduncertainty
Every project has interactingkey constraints of time, cost andscope, known as the ProjectManagement “iron triangle”
Project management triangleis time, scope, cost and quality
Group is when 2 or morepeople who are connected bysocial relationships, whereas ateam is when 2 or more peoplewith common goals and sharedresponsibility
Teams go through 4 steps:forming, storming, norming andperforming It is important to beaware about these steps in yourproject and manage them effect‐ively
Week 2 (cont)
A high-performing team iscomprised of nine roles, someare task oriented, some arethinking-related and some aresocial-oriented
Week 3
The Project Start Updetermines what the project isabout and what is not
Develop knowledge on themanagement of these activities,PMI’s (2017) 5 processesgroups: initiating, planning,executing, monitoring andcontrolling and closing
Projects objectives should beSMART Specific, Measurable,Activity and Achievement based,Realistic and Relevant, andTimed
Stakeholders need to bemanaged as they can impactand are impacted by the project
The internal team project,core externals and rest of theworld are the main stakeholdergroups
Power(high/low) and intere‐st(high/low) of each stakeholderneeds to be considered
Project risks can arise frominternal (time, cost, scope,quality, health and safety legaland resources) and externalsources (PESTLE)
To effectively plan scopestakeholder engagement is vital– collect and manage requir‐ements
Week 4
The Project ManagementPlan includes key project inform‐ation and can be used tointroduce to the projectmembers Typical contents:What, Where, When, Who, Whyand How
Stakeholder engagement isvital for requirements collectionand measuring quality
Projects can spiral out ofcontrol through scope creep –this needs active management
WBS shows the scope of theproject and divides the work intomanageable tasks
Quality standards that can bemeasured aid in bridging thegap between expectation andperception
Product scope: The featuresand functions that categorise theproduct, service or result
Project scope: The workperformed to deliver a product,service or result with thespecified features and functions
Scope creep is the uncont‐rolled expansion to product orproject scope, without adjust‐ments to time, costs andresources
Manage this by focusing onensuring the project contains allthe work required and only thework required for the project tobe successful
Week 5
Network Analysis/CriticalPath Analysis is a tool to planand allocate resources and tominimise total project durationand costs
“Activities” are known as aspecific task, or set of tasks, thatare required by the project
“Network Diagram” is thecombination of all activities thatdefine the project and thesequence of relationshipsbetween them
A zero-duration activity, alsoknown as a “Milestone”, is a taskthat does not involve any work,but is acknowledged as a keyachievement
A Critical Path is thesequence of activities where ifdelayed, the entire project isdelayed
The Critical Path is theslowest/longest path in anetwork
To construct a networkdiagram, you first identify all theactivities undertaken in theproject, estimate the time eachactivity takes to complete, andpinpoint the order of activitiesthat need to be completed
Network diagrams usuallyinclude the duration of tasks, aswell as their earliest and lateststart/finish times
“Duration” is the total time ittakes to finish a task/activity
The earliest an activity canstart is known as the EarliestStart Time, or “EST”
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Week 5 (cont)
The earliest an activity canfinish is known as the EarliestFinish Time, or “EFT” The “EFT”can be calculated by adding theearliest start time and duration ofan activity
The latest an activity canfinish is known as the LatestFinish Time, or “LFT” The “LFT”of the activity can be calculatedby the lowest LST of theprevious activity/activites
The latest an activity can startis known as the Latest StartTime, or “LST” The “LST” canbe calculated by deducting thelatest finish time of the activitywith the duration of the activityThe difference between theEST + Duration and the LFT isknown as FLOAT (or Slack) Inother words the activity can“float” for a specific periodwithout it becoming a problem
Week 6
Project resources areanything that is necessary forthe project to be completedThefour resource categories presentwithin a project are HumanResources, Materials,Equipment, and Cash (Capital/‐Budget)
A resource constraint is anylimitation and/or risk associatedwith project resources
Week 6 (cont)
Resource ConstrainedProjects should be levelled,allowing end dates to move Itforces the resources scheduledto not exceed the limits ofresources available
Time Constrained Projectsshould be smoothed, to move orsplit tasks or to assign replac‐ement resources It ensuresresources are used as efficientlyas possible by utilising float/‐slack of activities to increase ordecrease resources needed atone specific activity and spreadit throughout the project
Costs can be required bytime, materials, capitalequipment, overheads, andcontingency
Top-down budgetingapproach are when budgets areprepared by top managementand imposed on the projectmanager This approach clearlyshows the business perfor‐mance goals and expectations oftop management, however itcan be unrealistic because theydo not incorporate the specialistinput and knowledge of theproject staff
Week 6 (cont)
The Bottom-Up approach isproject managers and planni‐ng/cost engineers prepare thebudget based on a detailedanalysis of all the resourcesneeded for the project tasks,and then the budget is passedup the chain of command forreview and approval Bottom-upbudgets tend to be more exactand can have a positive impacton project morale because staffhave played an active role in thebudgeting process
Risk management refers toactivities for minimizing projectrisks, therefore ensuringcompletion within time andbudget and fulfilling the scope.The risk management processconsists of 5 stages These areto Plan Risk Management,Identify, Analyse Risks,Response Plans, ImplementResponses
A risk matrix is a matrix that isused during risk assessment todefine the level of risk bycategorizing the probabilityagainst the impact of conseq‐uence
There are 5 risk strategiesthat can be used to respond torisk These are Escalate, Avoid,Transfer, Mitigate, and accept
Escalation is appropriatewhen the project team or projectsponsor agrees that a threat isoutside the scope of the projector that the proposed responsewould exceed the projectmanager's authority
Week 6 (cont)
Avoid is when the projectteam acts to eliminate the threator protect the project from itsimpact
Transfer involves shiftingownership of a threat to a thirdparty to manage the risk and tobear the impact if the threatoccurs
Action is taken to reduce theprobability of occurrence and/orthe impact of a threat Earlymitigation is usually moreeffective
To accept is to acknowledgethe existence of a threat, but noproactive action is taken
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Not published yet.Last updated 30th March, 2022.Page 2 of 2
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