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    Use of a work break down structure in project planning

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    1. Describe the use of a work break down structure (WBS) in project planning.

    2. What considerations and issues would you explore in developing the organizational structure for a large mission critical project?

    3. How would you identify the risks that can hinder a project and what set of tools can you use to mitigate project risks?

    4. Define the concept of earned value. How would you use earned value to track the completion of a project?

    5. What are the components of a Gantt chart? Describe the use of a Gantt chart in project planning.

    6. What types of reports would you develop and use to communicate project progress?

    7. Define the components of SMART. Describe the use of a SMART in project planning.

    8. How does a project manager track project variance?

    9. How should a project manager use project variance to make course corrections during the execution of a project?

    10. What activities need to be considered during the termination of a project? Identify issues associated with successful and unsuccessful project completion.

    11. Describe the meaning of the following organizational structures:
    a. Functional
    b. Matrix
    c. Pure Project

    12. What are the goals and objectives of a project audit?

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    The response addresses the queries posted in 1600 Words, APA References

    Concepts of Project Management


    Work Break down Structure (WBS)

    The work breakdown structure (WBS) is the breakdown of the project into its component parts in a reasonable and methodical manner. It is an important tool which helps in determining all the activities and putting them in a sequence. The work breakdown structure helps in effective planning and proper execution of the project. It serves as an efficient planning and reporting tool in the area of project management (Phillips, 2003). The structure explains the series of activities which are to be performed to complete the project successfully. A project manager can develop the project schedule and can identify the resource required in the project.


    Issues in Organizational Structure

    The most important issue is to select the organization structure suitable for managing large complex projects. Considerations and issues in developing the organizational structure for a large mission critical project are:

    ü Leadership- The project organization should be led by a competent leader who is accountable for the project performance.

    ü Authority and responsibility issues. The authority delegated to the project manager and his team should be commensurate with their responsibility.

    ü Systems, procedures and methods should be well-defined.

    ü Proper attention must be given to the human side of the project.

    ü Effective and efficient communication system.

    ü Rewards and penalties to individual team members should be related to their performance.


    Risks in Project

    Every project is associated with some or other risk. The process of risk identification determines the risk and its characteristics affecting the project. Generally, qualitative risk analysis process is adopted by an organization. The process of risk identification is integrative and the participants in the process depend upon the situation. It is beneficial if the all the members of project team take part in it as it helps in developing trust and accountability among the members.

    The main risk identification techniques are:

    o Documentation reviews (Ritter, 2008).

    o Techniques of information gathering. (It includes brainstorming, SWOT analysis, root cause identification, assumption analysis, diagramming techniques) (Ritter, 2008).

    For mitigating the project risk, tools which can be used are simulation, prototyping, evolutionary development and alternative designs (Guidelines for Risk Management Process Review).


    Concept of Earned Value

    The concept of earned value is related to measurement of the work done in a project. It helps in knowing the performance of the project compared to the plan set. The project cost and completion time is estimated using statistical projection.

    Earned value tool measures the progress of the project through the standard techniques. The changes are tracked to the standards set. Project performance is measured by the cost, ...

    Solution Summary

    The response addresses the queries posted in 1600 Words, APA References