Q1: Explain the importance and need of Project Management.

Ans: Goal Achievement: Project management ensures that projects are aligned with
organizational goals and objectives. It helps to define clear project objectives and
deliverables, ensuring that resources are used efficiently to achieve desired outcomes.

Resource Management: Projects often involve multiple resources such as human

resources, finances, time, and materials. Effective project management ensures that
these resources are allocated appropriately, maximizing efficiency and minimizing waste.

Risk Management: Every project involves risks, such as budget overruns, schedule delays,
or unforeseen obstacles. Project management involves identifying, assessing, and
mitigating these risks to minimize their impact on the project's success.

Communication: Clear and effective communication is essential for project success,

especially in teams with diverse members or stakeholders. Project management facilitates
communication by defining roles and responsibilities, establishing communication
channels, and ensuring that information is shared timely and accurately.

Stakeholder Management: Projects often involve various stakeholders with different

interests and expectations. Project management helps in identifying stakeholders,
understanding their needs, and managing their expectations throughout the project
lifecycle.

Quality Management: Ensuring quality deliverables is critical for project success and
customer satisfaction. Project management involves defining quality standards,
implementing quality control processes, and continuously monitoring and improving
project deliverables.

Time Management: Time is a valuable resource, and effective project management

ensures that projects are completed within the specified time frame. This involves creating
realistic schedules, setting milestones, and closely monitoring progress to avoid delays.

Cost Management: Budget overruns can significantly impact project success and
organizational finances. Project management involves budget planning, cost estimation,
tracking expenses, and implementing cost control measures to ensure that projects are
completed within the budget.

Continuous Improvement: Project management methodologies such as Agile or Six

Sigma promote continuous improvement by encouraging feedback, reflection, and
adaptation throughout the project lifecycle. This allows organizations to learn from past
experiences and enhance future project performance.
Client Satisfaction: Ultimately, project management aims to deliver value to clients or
stakeholders. By ensuring that projects are completed on time, within budget, and
according to quality standards, project management contributes to customer satisfaction
and enhances the organization's reputation.

Q2: Explain the term “PROJECT”.

Ans: Project: It is a network of tasks/activities which have a definite start and end. It
should be completed within a definite time and cost/budget.

Q3: Explain the terms in context of Project Management:

1. PERT
2. CPM
3. Network Diagram
4. NODE
5. ACTIVITY
6. Critical Time
7. Optimistic Time
8. Pessimistic Time
9. Float

Ans:

PERT

PERT stands for Program Evaluation and Review Technique. It's a project management tool
used to analyze and represent the tasks involved in completing a project, especially those
with uncertainties in duration. PERT provides a visual representation of the project
schedule, highlighting critical paths and estimating the time needed to complete the
project.

CPM

CPM stands for Critical Path Method. It is a project management technique used to
determine the longest sequence of dependent tasks (the critical path) and to estimate the
minimum time required to complete a project.
Network Diagram

A Network Diagram is a visual representation of project activities and their dependencies.

It provides a graphical illustration of the sequence and relationships between various tasks
or activities required to complete a project. Network diagrams typically use nodes to
represent activities and arrows to represent the dependencies between them.

NODE

A Node refers to a point or representation within a network diagram that signifies an

individual activity or task. Nodes are typically depicted as shapes such as circles or
rectangles, and they represent specific actions or milestones that must be completed as
part of the project.

ACTIVITY

Activity refers to a specific task or action that needs to be accomplished as part of a

project. Activities are the building blocks of project plans, representing the work that must
be done to achieve the project's objectives. Each activity is typically defined by its
duration, resources required, dependencies on other activities, and the desired outcome
or deliverable.

Critical Time

“Critical Time” generally refers to the duration or period of time within which certain
activities must be completed to ensure that the project meets its overall deadline or target
completion date.

Optimistic Time

“Optimistic Time” refers to the shortest possible duration in which an activity can be
completed under ideal conditions. It represents an optimistic or best-case scenario
estimate of how long it will take to finish a particular task.

Pessimistic Time
“Pessimistic Time” refers to the longest possible duration that an activity might take to
complete under unfavorable or adverse conditions. It represents a worst-case scenario
estimate of how long it will take to finish a particular task.

Float

"Float" refers to the amount of time that a specific task or activity can be delayed without
causing a delay to subsequent tasks or the overall project completion date. Also known as
"slack," float represents the flexibility within a project schedule.

Q4: What are the differences between PERT and CPM?

PERT CPM
Focus It is for projects where things are It is for projects where things are
uncertain or variable. more certain and predictable.
Estimation It uses a range of estimates for each It typically uses just one estimate
of Activity task to handle uncertainty. for each task because things are
Durations more certain.
Calculation It calculates project duration It calculates project duration based
of Project considering uncertainties and on the longest path of certain tasks.
Duration variability.
Critical It may have multiple critical paths It usually has one critical path
Path due to uncertainties. based on the longest sequence of
tasks.
Application It is used in projects with a lot of It is used in projects with clear,
unknowns, like research or defined tasks, like construction or
innovation. manufacturing.

Q5: What are the different types of Project Management?

Ans: Waterfall Project Management: Waterfall is a traditional sequential approach where

each phase of the project is completed before moving on to the next. It's suitable for
projects with well-defined requirements and little change expected throughout the project
lifecycle.

Agile Project Management: Agile is an iterative and incremental approach that

emphasizes flexibility, adaptability, and customer collaboration. It breaks the project into
small increments, allowing for continuous feedback and adjustment. Agile is popular in
software development but is also applied in various other industries.
Scrum: Scrum is a specific Agile framework that focuses on delivering small, shippable
increments of work in short iterations called sprints. It emphasizes self-organizing teams,
regular meetings (such as daily stand-ups), and continuous improvement.

Kanban: Kanban is another Agile framework that visualizes the workflow on a Kanban
board. Tasks are represented as cards moving through different stages of the process,
helping teams manage work in progress and optimize flow.

Lean Project Management: Lean project management aims to maximize value while
minimizing waste. It focuses on identifying and eliminating non-value-added activities to
streamline processes and improve efficiency.

Six Sigma: Six Sigma is a data-driven methodology focused on reducing defects and
variation in processes. It uses statistical analysis and quality management techniques to
improve process performance and eliminate errors.

Critical Chain Project Management (CCPM): CCPM is a method that focuses on

managing the resources and constraints of a project to maximize throughput and minimize
delays. It emphasizes resource optimization and buffer management to protect project
timelines.

PRINCE2 (Projects IN Controlled Environments): PRINCE2 is a structured project

management methodology widely used in the UK and internationally. It provides a
comprehensive framework with defined roles, processes, and principles for managing
projects effectively.

PMI/PMBOK (Project Management Institute/Project Management Body of Knowledge):

PMBOK is a guide published by the Project Management Institute that outlines best
practices in project management. It covers a wide range of knowledge areas, processes,
and techniques applicable to various project types and industries.

Hybrid Project Management: Hybrid approaches combine elements of different project

management methodologies to suit the specific needs of a project or organization. For
example, a project might use a combination of Agile and Waterfall practices, known as
"Agile-Waterfall" or "Wagile."

Q6: Explain different steps in PERT.

Ans: PERT typically involves several steps:

Identify Activities: The first step in PERT is to identify all the individual tasks or activities
required to complete the project. These activities should be specific and measurable,
representing the various components of the project's scope.

Sequence Activities: Once the activities are identified, the next step is to determine the
order in which they need to be performed. This involves identifying dependencies between
activities, such as which tasks must be completed before others can start.

Estimate Activity Durations:

PERT uses three-time estimates for each activity:

Optimistic time (O): The shortest possible time the activity could take under ideal
conditions.

Most likely time (M): The best estimate of the time required for the activity under normal
conditions.

Pessimistic time (P): The longest possible time the activity could take under adverse
conditions. These estimates help account for uncertainties and variability in activity
durations.

Calculate Expected Duration: The expected duration (TE) of each activity is calculated
using a weighted average formula: TE = (O + 4M + P) / 6 This formula gives more weight to
the most likely estimate while considering the range of possibilities represented by the
optimistic and pessimistic estimates.

Construct Network Diagram: Once the expected durations for each activity are
calculated, they are used to construct a network diagram. The network diagram represents
the sequence of activities and their dependencies graphically, typically using nodes to
represent activities and arrows to represent dependencies.

Identify Critical Path: The critical path is the longest sequence of dependent activities
that determines the minimum time needed to complete the project. Activities on the
critical path have zero float or slack, meaning any delay in these activities will directly
impact the project's overall duration. The critical path is identified by calculating the
earliest start and finish times for each activity.

Analyze Schedule and Risks: Once the critical path is identified, project managers can
analyze the project schedule to determine potential risks and areas for optimization.
Activities with the least amount of float are most vulnerable to schedule changes and
should be closely monitored.
Q7: What is the PERT chart and how does it work?

Ans: A PERT chart is like a roadmap for a project. It shows all the tasks that need to be
done, the order they need to be done in, and how long each task might take.

Here's how it works:

Listing Tasks: First, you list out all the things that need to be done to finish the project.

Drawing Arrows: Then, you draw arrows to show which tasks depend on others. For
example, you can't start painting a wall until you've finished priming it.

Estimating Times: Next, you estimate how long each task might take. You make three
guesses: one for the best-case scenario, one for the worst-case scenario, and one for the
most likely scenario.

Making the Chart: With all this information, you draw a chart. Each task is a circle, and the
arrows show the order they need to be done in. You write the estimated times next to each
task.

Finding the Critical Path: Finally, you find the longest path through the chart. This is called
the critical path. It shows the shortest time the project could take. If any task on the critical
path gets delayed, the whole project will be delayed.

Q8: What should a PERT Chart template Include?

Ans: PERT chart template, include:

Task Names: List all the tasks needed to finish the project.

Boxes or Circles: Represent each task with a box or circle.

Arrows: Draw arrows to show which tasks depend on others.

Time Estimates: Add space for estimating how long each task might take.

Critical Path: Highlight the longest sequence of tasks that determines the shortest project
duration.

Milestones: Optionally, mark important checkpoints in the project timeline.

Key: Provide an explanation of symbols or colors used in the chart.

Q9: What are the benefits of using PERT chart?

Ans: Visual Representation: It provides a clear and visual representation of tasks,
dependencies, and timelines, making it easy to understand the project's structure and
flow.

Task Dependencies: It helps identify task dependencies, ensuring that tasks are
completed in the correct sequence.

Critical Path: It highlights the critical path, showing which tasks are most important for
meeting project deadlines.

Time Estimation: It helps estimate task durations more accurately by considering

optimistic, pessimistic, and most likely scenarios.

Resource Allocation: It aids in resource allocation by identifying tasks that can be done in
parallel and those that require specific resources.

Risk Management: It allows for better risk management by identifying potential delays and
providing a basis for contingency planning.

Communication: It facilitates communication among team members, stakeholders, and

project managers by providing a common understanding of project timelines and
milestones.

Q10: What are the essential parts/elements of PERT?

Ans: The essential parts of PERT (Program Evaluation and Review Technique) include:

Nodes (Events): Represent specific events or milestones in a project.

Activities: Individual tasks or work packages that need to be completed to achieve project
goals.

Precedence Relationships: Dependencies between activities, indicating the order in

which they must be executed.

Duration Estimates: Time estimates for each activity, typically expressed as optimistic,
pessimistic, and most likely values.

Critical Path: The longest path of interconnected activities, determining the minimum
time needed to complete the entire project.
Float (Slack): The flexibility or buffer time available for non-critical activities without
impacting the project’s overall duration.

PERT Chart: A visual representation of the project schedule, illustrating the sequence of
activities and their dependencies.

Probability and Risk Analysis: Assessing the likelihood of meeting project deadlines by
considering the variability in activity duration estimates.

Q11: Where should CPM be used?

Ans: CPM can be used:

i) Construction Projects: Optimizing construction timelines and resource allocation.

ii) Engineering Projects: Planning and coordinating complex tasks efficiently.
iii) Software Development: Scheduling coding, testing, and deployment activities.
iv) Event Planning: Coordinating various event activities to ensure timely execution.
v) Manufacturing Processes: Managing production activities and supply chain
operations.
vi) Research and Development Projects: Planning and managing complex workflows
effectively.

Q12: Explain the following terms in context of CPM:

i) Earlier Start Time

ii) Latest Start Time
iii) Earliest Finish Time
iv) Float
v) Forward or Backward Path in CPM

Ans:

Earlier Start Time: The "Early Start Time" refers to the earliest possible time at which a
particular activity can begin within a project schedule, based on the dependencies and
constraints of preceding activities.
Latest Start Time: The "Latest Start Time" refers to the latest allowable time at which a
particular activity can begin without delaying the project's completion date. It helps project
managers identify the flexibility or float available for non-critical activities.

Earliest Finish Time: The "Earliest Start Time" refers to the earliest possible time at which
a particular activity can begin within a project schedule, given the dependencies and
constraints of preceding activities.

Float: "Float," also known as "slack," refers to the amount of time an activity can be
delayed without causing a delay in the overall project completion date. It represents the
flexibility or cushion available for non-critical activities within the project schedule.

Forward or Backward Path in CPM:

Forward Pass:

Purpose: The forward pass calculates the earliest start (ES) and finish (EF) times for each
activity in the project.

Method: It begins with the project's start date and moves forward through the network
diagram, one activity at a time. For each activity, the earliest start time is determined by
the maximum of the early finish times of all its immediate predecessors. The earliest finish
time is then calculated by adding the activity's duration to the earliest start time.

Calculation: The forward pass ensures that activities are scheduled as early as possible
while maintaining the logical dependencies between them. It helps identify the critical
path by determining the earliest possible project completion time.

Backward Pass:

Purpose: The backward pass calculates the latest start (LS) and finish (LF) times for each
activity in the project.

Method: It starts from the project's end date and moves backward through the network
diagram, one activity at a time. For each activity, the latest finish time is initially set to the
project's end date. The latest start time is then calculated by subtracting the activity's
duration from the latest finish time. This process is repeated recursively until all activities
have their latest start and finish times determined.
Calculation: The backward pass helps identify the flexibility or float available for non-
critical activities. It ensures that activities are scheduled as late as possible without
delaying the project's overall completion.

Q13: What are the various steps in CPM?

Ans : Identify Activities: Break down the project into smaller, manageable activities or
tasks. Each activity should be clearly defined and have a specific duration.

Sequence Activities: Determine the logical sequence in which activities must be

performed. Identify dependencies between activities, including finish-to-start, start-to-
start, finish-to-finish, and start-to-finish relationships.

Construct Network Diagram: Create a network diagram, such as an Activity-on-Node

(AON) diagram or a Precedence Diagramming Method (PDM), to visually represent the
sequence of activities and their dependencies. This diagram serves as the foundation for
CPM analysis.

Estimate Activity Durations: Estimate the time required to complete each activity. Use
historical data, expert judgment, and other estimation techniques to make realistic
duration estimates.

Identify Critical Path: Perform the forward pass and backward pass calculations to
determine the earliest start and finish times (ES and EF) and the latest start and finish
times (LS and LF) for each activity. Identify the critical path, which consists of activities
with zero float or slack, meaning any delay in these activities will delay the project's
completion.

Calculate Float: Calculate float or slack for non-critical activities. Float represents the
amount of time an activity can be delayed without delaying the project's overall
completion. Positive float indicates flexibility in scheduling non-critical activities.

Schedule Optimization: Analyze the schedule to identify opportunities for schedule

optimization. Adjust resource allocation, activity sequences, or durations to minimize
project duration or resource constraints while maintaining project objectives.

Resource Allocation: Allocate resources, such as personnel, equipment, and materials,

to activities based on their requirements and availability. Ensure resources are effectively
utilized throughout the project.
Monitoring and Control: Continuously monitor project progress against the planned
schedule. Track actual start and finish times, identify any deviations from the schedule,
and take corrective actions as necessary to keep the project on track.

Update Schedule: Regularly update the project schedule based on actual progress,
changes in requirements, or unforeseen circumstances. Adjust activity durations,
sequences, or resource allocations as needed to reflect the most current project status.