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PMGT T4 (Ch6) & T5 (Ch7) (Basic network techniques (Activity-on-Node…
PMGT T4 (Ch6) & T5 (Ch7)
Basic network techniques
Activity-on-Node (AON) (p.167)
Forward pass - earliest times (p.171)
Backward pass - latest times (p.173)
Determining slack (or float) (p.175)
Free slack (p.177)
Activity numbering
Project network (p.164)
Developed from the WBS
Visual representation of the project
Identifies dependencies, sequencing and timing
Construction (p.166)
Terminology
Activity (p.166)
Element of project that consumes time - either working or waiting (p.164)
Burst activity - has 2 or more activities flowing OUT of it
Merge activity - has 2 or more activity flowing INTO it
Activity (normal/general)
Parallel activities - activities that can happen concurrently
Hammock activity - (p.188)
Path
Critical path - longest route through project
Eight basic rules
Extended techniques
Lag times (p.183)
Hammock activities (p.188)
Laddering (p.182)
The risk management process (p.210)
Risk response control
Risk register (p.226)
Change control management (p.226)
Process and outcomes of system (p.227)
See Fig 7.10 (p.228) for example change request form
Most changes are:
Scope changes
Implementing contingency plans
Improvement changes proposed by project team
See Fig 7.11 (p.229) Change request log
Risk response development (p.216)
Responses
Transferring (p.217)
No change to risk, but change to who bares it
e.g. fixed-price contract or insurance
BOOT - Build-Own-Operate-Transfer
Mitigiation (p.216)
Reduce probability or...
Reduce impact
Accepting (retaining) (p.218)
Just accept the risk may eventuate
Make a contingency plan in case it does
Avoiding (p.217)
Change project plan to avoid it
e.g. indoor wedding to avoid risk of weather
When risk occurs
Contingency planning (p.219)
Alternative plan IF the risk occurs
Risk response matrix fig 7.8 (p.220)
Contingency funding
Budget reserves - for specific parts of the project (p.224)
Management reserves - for overall or unknown risks (p.224)
Time buffers (p.225)
Types
Technical risks (p.220)
Schedule risks (p.222)
Cost risks (p.222)
Funding risks (p.222)
Opportunity management for risks with positive outcomes (p.223)
Risk assessment
Probability analysis (p.215)
PERT (program evaluation and review technique) (p.216)
PERT simulation (software based)
Considers overall project risk and need for contingencies
Uses optimistic/pessimistic range estimates (as per video in T3)
Scenario analysis (p.213)
Probability of event
Impact of event (customisable table in Fig 7.5 p.214)
Detection (p.215)
Failure Mode and Effects Analysis (FMEA)
Impact X Probability X Detection = Risk Value
Some add detection to the equation (how much reaction time will there be)
Combine into 'risk severity matrix' (p.215)
In any case, maths or matrices should NOT override discussion and human judgement
Risk identification
Risk profile (p.211)
Compiles a list of questions past of learnings from past projects
See example in Fig 7.4 p.212
Risk breakdown structures (RBSs) (p.210)
See Fig 7.3 p.211
Looks at risk from project level down to WP level
Best results
Vast brainstorm of ideas, things can be excluded later
Engages as many stakeholders ideas as possible
From a group, not individual
High levels of critical thinking