Answer To: BSBPMG512 Manage project time Student Assessment Tasks AISL Pty Ltd T/A Rosehill College RTO No:...
Sarabjeet answered on Aug 20 2021
Assessment Task 1 Instructions
Provide answers to all of the questions below:
1. Explain each of the following estimating techniques, and how each can be used to determine task duration and resource effort.
•Analogous estimation-analogy estimation is a process of comparing previous projects with present projects to estimate cost and time. When the data in the current project is limited, similar estimates will be made.
• Parametric model estimation-Parametric model estimation is a good estimate of how long and how much the present project will take by looking at past projects. It enables you to measure the various tasks in the project to obtain a more correct time frame and cost.
• Three-point estimation-Three-point estimation is a method that uses pessimistic and optimistic estimates to verify the ideal estimation of the project task. It’s an effective tool for solving PMP exam problems and is unlikely to change anytime soon. It enables the known threats to be built and quantified into project budget.
•Expert judgment estimation-Expert judgment refers to a technology that specifically refers to technology in which judgments are made depend on set of specific standards or expertise obtaine in a particular information field and product field, and a specific discipline and business, etc. This information base can be provide by one member of project group, several the project team members, or team leader or group leader.
• Supplier Bid Analysis-Supplier Bid Analysis (Supplier Analysis) is a method used to calculate the cost of project by comparing bids submitted by several suppliers. This can also be achieved by considering costs proposed for the project work (through quotations, bids, proposals, etc.).
• Reserve analysis- It’s a method used to examine project budgets. Through the reserve analysis period, the project will be analyzed from the perspective of cost overruns moreover the buffer zone will be placed in an appropriate location. These buffer zones are called emergency reserves and management reserves.
• Bottom-up analysis-evaluate where the product can be sold, sales of similar products as well as the present share of sales you can achieve.
2. Describe what the critical path of a project is, and explain the steps used to identify it using the Critical Path Method.
The critical path is a longest distance among the start or end of the project, which include all tasks or projects furthermore their time duration, which allows you to know the genuine progress of project.
Some of the most important steps to complete and successfully complete the project are:
I. List all tasks required to complete the project.
ii. Write down the duration of each task and make sure to determine how long each task will take to complete it and move on to the next task.
iii. A very important step is to determine whether there are any task dependencies, and you also need to ensure that they are interdependent. Task relevance refers to the time when a task does not start until another task is completed.
iv. You want to know the milestones in the project. What are the deliverables? Create all lists
3. Explain what a project baseline is.
It is the primary snapshot of the timeline when you save project data for the first time to compare updates and track progress. Benchmarks can help you to visualize as well as attain project progress, work or cost goals. Baselines are very helpful; particulary in case of small projects using agile growth, because they want to understand the difference among original plan moreover the present state every week.
4. Explain the procedure for establishing project baselines
The project baseline must always be among the planning stage and the begining of project. The baseline must only be reset when there are mian changes to the project, for example budget overruns, delays, and loss of the main resources. When conducting initial benchmarking and approving budgets, the correct time is the first baseline.
5. Explain how to manage adjustments to a project baseline due to a major change to scope or cost.
To manage the adjustments in the project baseline, it is necessary to perform analysis throughout the project. This is also essential for tracking and monitoring progress and comparing the location or status of earlier versions of the project.
6. Explain how project variance is most effectively managed.
· After requesting a change, it is necessary to predict its impact on all aspects of the project. It is necessary to ask ourselves and the team the following questions:
• Does change support your entire project strategy?
• If changes are not, what will happen to the project?
• If this changes is excuted, which other areas of project will be pretentious?
• Does change conflicts with your available project agenda?
• Is the positive impacts of this change bigger than negative impact?
• Can other change be executed instead of this change?
7. Summarise the project life cycle phases, and describe each phase.
• Initiation-In the initiation phase of a project, we identify business requirements, opportunities or problems, as well as brainstorm ideas on how the group can meet this need, resolve problems, or seize opportunities.
• Planning-At this stage, we break down bigger projects into small tasks, build your group, and arrange a timetable for finishing tasks.
• Execution-After receiving business approval, making a plan and forming a team, it is in the execution stage, which means putting the plan into practice.
• Closing-After completing the work on the project, we will start the closing stage, in which we will provide the final deliverables, discharge project resources as well as determine the project success.
8. Summarise the following key tools for project scheduling
• Planned network analysis-Planned network analysis is the graphical representation of the plan, showing every sequenced movement and time required to complete every activity. It is used to recognize the start and end dates, or the start and end dates of the unfinished parts of the project schedule activity.
• Critical path analysis-the critical path is the longest distance among the start moreover end of project, including all projects and their time, so that you can clearly know the real project progress.
• Schedule compression-It is a method use in PM to shorten the established schedule. This can be complete to meet updated delivery dates, new opportunities or planned delays. It can be done without change the program scope.
9. Explain three best-practice time management methodologies. For each, summarise their capabilities, limitations, applications and outcomes
• Activity log-An activity log is a written record of time spent and can be used to measure the time you and your employees spend on certain tasks. Some of the benefits are: increasing productivity, addressing weaknesses, improving time management, and minimizing low-value tasks.
• Action plan-plan is an important prerequisite for achieving the goals pursued by the enterprise. In all management activities, the first is due to the following advantages: bring more effective as well as quick success in some association; it adds strength to the stable growth and sustained prosperity of the enterprise; it ensures the unity of goals, focus on goals and directions And work hard. At the same time, energy, and money are needed in the analysis and collection of information and revision and formulation of strategy. Planning is only helpful when its expected benefits increase its costs. It is usually pointed out that cost of the planning exceeds its actual contribution.
• Task List-One of the basic tools of time management is to list the things you need to accomplish. It integrates all your tasks into one place. From there, you can determine their priority and resolve important issues first.
10. Explain how a work breakdown structure is used to create project schedules.
WBS is a key deliverable project that manages the team work into controllable parts. WBS will help break down the plan into smaller tasks.
Assessment Task 2: Conference schedule project
Task summary
Students are given a case study scenario, and are then required to create a Work Breakdown Structure, and Project Management plan, and a Project Schedule. They are then required to discuss these with the other members of their project team. Students then review their project documents, and send them to their team members for confirmation.
This assessment is to be completed in the simulated work environment in the SMC.
Required
Computer with Microsoft Office and access to the internet
Draft Project Management Plan Template
Draft Project Schedule Template
Place for a meeting
Role-play participants
Timing
The assessor will advise you of the due date of this submission.
Submit
Email to assessor with the following attached:
· Work Breakdown Structure
· Draft Project Management Plan
· Draft Project Schedule
Email to assessor with the following attached:
· Baseline Project Management Plan
· Baseline Draft Project Schedule
Assessment criteria
For students’ performance to be deemed satisfactory in this assessment task, they must satisfactorily address all of the assessment criteria. If part of this task is not satisfactorily completed they will be asked to complete further assessment to demonstrate competence.
Re-submission opportunities
Students will be provided feedback on their performance by their Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.
If any parts of the task are not satisfactorily completed your assessor will explain why and provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.
Students have the right to appeal the outcome of assessment decisions if they feel they have been dealt with unfairly or have other appropriate grounds for an appeal.
Students are encouraged to consult with their assessor prior to attempting this task if they do not understand any part of this task or if they have any learning issues or needs that may hinder them when attempting any part of the assessment.
Assessment Task 2 Instructions
Carefully read the following:
Manager Networks is an organisation that provides networking events for business people across Australia. The company runs regular networking events but has now decided to start an annual conference event focussing on an area of business considered to be of key importance. It is hoped that the conference will provide information on cutting edge leadership topics that focus on leadership skills, knowledge and trends.
It should also promote Management Networks, as well as providing professional development for its clients.
As the Administration Manager for Manager Networks, you have been asked by the CEO to develop and implement a project schedule for the conference. Although the CEO has ultimate responsibility for the conference, you will be responsible for the ongoing development of the congress in cooperation with several other staff members, who will use their expertise in different areas to support your project management.
Donna Chisholm, who is the co-ordinator of the Manager Networks’ trainers, will help with contacting and lining up the speakers. She has already drafted a Conference Program, which can be used until the speakers have been finalised.
Dan Streep, the Administration Assistant has had experience with the ground level work required for a conference, and he will help to determine and prepare the venue.
Edith Partridge, the Chief Financial Officer will be in control of the finances of the congress.
Erin O’Donnell, the Manager Networks Marketing Manager, will co-ordinate the marketing material.
The conference will be conducted on 04 October 2018. It will be a one-day event, from 9 am to 4 pm.
For the purposes of this assessment task, assume that the date of the project team meeting is 09 April 2018.
The conference style will be formal, with a balance of conference elements to ensure that outcomes are achieved.
Participant target group is managers in all industries. This group will be targeted by email using the Manager Networks data base and publicised through social media such as LinkedIn.
Conference facilities require a centrally located venue that...