PRM3701 Assignment 6
(COMPLETE ANSWERS)
Semester 2 2024
(705306) - DUE 1 October
2024 ; 100% TRUSTED
Complete, trusted
solutions and
explanations.
, QUESTION 1 [15 MARKS] You have been invited to deliver a speech to
young graduates about important issues in project management. To educate
them properly answer the questions that follow. • Please note you will be
required to do research on the questions below. • Also indicate your
references 1.1 Discuss five constraints, besides a project budget, that a
project manager must balance to successfully complete a project. (5 marks)
1.2 Describe each phase of the project life cycle, referring to two core
activities that usually occur in each phase. (10 marks)
Here’s a structured response to your questions, along with references you can explore further.
1.1 Five Constraints in Project Management
Aside from budget, project managers must balance the following five constraints:
1. Scope: This defines the boundaries of the project—what is included and what is not.
Project managers must manage scope creep (the uncontrolled expansion of project scope)
to ensure the project stays aligned with its objectives.
2. Time: Time constraints relate to the project schedule. A project manager must ensure that
tasks are completed on time and that deadlines are met. Delays can lead to increased costs
and affect the overall project success.
3. Quality: Quality constraints involve the standards and criteria that the project's
deliverables must meet. A project manager must ensure that the work meets the required
quality standards, balancing quality with scope and time.
4. Resources: This encompasses the physical and human resources needed to complete the
project. Project managers must allocate and manage these resources efficiently to avoid
shortages or over-allocation.
5. Risk: Projects inherently involve risks that could affect their outcome. A project manager
must identify, assess, and mitigate risks throughout the project lifecycle to ensure
successful delivery.
1.2 Phases of the Project Life Cycle
The project life cycle typically consists of five phases: initiation, planning, execution, monitoring
and controlling, and closure. Here’s a brief overview of each phase with core activities:
1. Initiation:
o Defining the Project: Establishing the project’s objectives and scope.
o Feasibility Study: Analyzing whether the project is viable and justifiable based
on costs, time, and resources.
2. Planning:
o Developing a Project Plan: Creating a detailed plan outlining tasks, timelines,
resources, and budget.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Seller28. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.50. You're not tied to anything after your purchase.
