Exam (elaborations)
PRM3701 Assignment 6 (COMPLETE ANSWERS) Semester 2 2024 (705306) - DUE 1 October 2024
PRM3701 Assignment 6 (COMPLETE ANSWERS) Semester 2 2024 (705306) - DUE 1 October 2024
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
Content preview
,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)
Speech to Young Graduates on Project Management
Introduction
Good [morning/afternoon], graduates! It’s an honor to speak to
you today about key issues in project management. As you
embark on your careers, understanding the complexities of
project management will be crucial for your success. Let’s dive
into the important aspects of managing projects effectively.
1.1 Five Key Constraints in Project Management (5 marks)
In addition to budget, project managers must balance several
critical constraints to ensure project success:
, 1. Scope: This defines what is included and excluded from the
project. Managing scope involves ensuring that project
deliverables meet stakeholder expectations while avoiding
scope creep, where additional tasks are added without
adjusting resources.
2. Time: Every project has a timeline, and managing time
effectively is crucial. This involves setting deadlines and
ensuring tasks are completed on schedule. Delays can lead
to increased costs and reduced quality.
3. Quality: Quality ensures that the project meets certain
standards and fulfills stakeholder requirements. Project
managers must balance quality with the other constraints,
ensuring that deliverables are not just completed on time
and within budget but also meet agreed-upon standards.
4. Risk: Identifying and managing risks is essential. Project
managers must foresee potential issues that could derail
the project and implement strategies to mitigate these
risks, balancing risk-taking with caution to maintain project
momentum.
5. Resources: This includes human resources, equipment,
and materials. A project manager must effectively allocate
and manage resources to ensure that the project can
proceed without unnecessary delays or shortages.
1.2 Phases of the Project Life Cycle (10 marks)
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 EFT, 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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller THEBLAZE1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R46,75. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
70055 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now