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Project Management & Revenue Management Essay

684 words - 3 pages

Project Management
Question I: (Discussion and Review Questions No.6)
What is a work breakdown structure, and how is it useful for project planning?

Work breakdown structure (WBS) – a hierarchical listing of what must be done during a project.

It is useful due to the fact that large projects usually involve a very large number of activities, planners need some way to determine exactly what will need to be done so that they can realistically estimate how long it will take to complete the various elements of the project and how much it will cost.

Question II:
What kind of projects need project management? What are the five phases of project management? To your understanding, what ...view middle of the document...

(1) Construct an AOA network diagram.

Shop for a new computer (Sh)
Select and purchase computer (Sel)
Install software (Inst)
Choose a topic (Ch)
Library research on chosen topic (Lib)
Outline the paper (Out)
Write the paper using the word-processing software (Write)
Use grammar-checking routine and make corrections (Ck)
Submit paper to instructor (Sub)

(2) Construct an AON diagram.

Shop for a new computer (Sh)
Select and purchase computer (Sel)
Install software (Inst)
Choose a topic (Ch)
Library research on chosen topic (Lib)
Outline the paper (Out)
Write the paper using the word-processing software (Write)
Use grammar-checking routine and make corrections (Ck)
Submit paper to instructor (Sub)

c. Determine the critical path and the expected duration time.

Critical Path = Path 1,2,4,6,7,8,9 is the longest path (7.5 hours), so that is the critical path.
Expected Duration Time = 7.5 hours

d. What are some possible reasons for the project to take longer than the expected duration?
1. Out of stock on the particular model of computer you decide to buy
2. Taking longer to chose topic to...

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