What are the key characteristics of a work package

Assignment Help Project Management

Reference no: EM133349120

Questions:

1) What are the key characteristics of a work package?

2) Why is cost estimation such an important component of project planning? Discuss how it links together with the Work Breakdown Structure and the project schedule.

3) Would you prefer the use of bottom-up or top-down budgeting for project cost control? What are the advantages and disadvantages associated with each approach?

4) How does the Work Breakdown Structure differ from the project network (be specific)?

5) Do you agree with the following statement: "With proper planning it is possible to eliminate most/all risks from a project"? Why or why not?

6) Identify the following terms: PV, EV and AC. Why are these terms important? How do they relate to one another?

7) Identify and describe the major deliverables included in the Project Closure step.

8) Using the information provided below, construct a network activity diagram

and answer the following questions:

a) Conduct a forward and backward pass using AON notation. What is the estimated total duration for the project?

b) Identify all paths through the network. Which is the critical path?

c) Which activities have slack time?

Reference no: EM133349120

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