Ucf man 4583 exam - Study guides, Class notes & Summaries

MAN 4583 Exam 1 - Baz UCF Questions and Answers Already Passed MODULE 1 What constitutes a project? What is a project? • Temporary endeavor: beginning and end • Creates a unique product • Not a continuous operation! A project is a unique endeavor that has a specific goal, a beginning and an end, and usually a budget. Distinguish between projects and operations: A project is any that produces a specific end result and is temporary; always have a beginning and an end. An Oper...

MAN 4583 Final Exam UCF Questions and Answers Already Passed What is an uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives? Risk What are the 3 steps in understanding risks? 1. Hold a brainstorming session 2. Industry specific risk categories 3. Look at WBS and identify risks by tasks or group of tasks What are the four ways to manage project risk? Develop a risk management plan 1. Identify risks 2. Perform qualitative & quantitative...

What is an uncertain event or condition that, if it occurs, has a positive or negative effect on project objectives? - Risk What are the 3 steps in understanding risks? - 1. Hold a brainstorming session 2. Industry specific risk categories 3. Look at WBS and identify risks by tasks or group of tasks What are the four ways to manage project risk? - Develop a risk management plan 1. Identify risks 2. Perform qualitative & quantitative risk analysis 3. Risk response plans 4. Risk regist...

What constitutes a project? • Temporary endeavor: beginning and end • Creates a unique product • Not a continuous operation What is a project? A project is a unique endeavor that has a specific goal, a beginning and an end, and usually a budget. Explain the role of a Project Manager: • Assigned to achieve project objectives • Leads project team • Organizes project resources • Can manage project at varying levels of complexity • Can manage projects in different industries Water...

Creating the project schedule is incredibly important because once your sponsor approves it, the schedule will serve as a baseline for all the project work you and your team perform. List each activity on its own post-it note, and make sure that each activity has a name (the more self-explanatory, the better!) that is that is short and begins with a verb. String electrical wires (SEW) put any activities that can start immediately (in other words, they don't depend on any other project activi...

Known unknowns risks you are aware of like weather delays, technology, widely dispersed project team, deliverable issues, limited options Unknown unknowns risks you can't predict and they come from super unlikely events like 9/11 event and you plan for them by setting up contingency funds based on past experiences. Risk management plan documents which risks to worry about and how you will handle them 1. evaluate risk 2. rate risk by probability and impact plan for risks of 9 or more risk res...