Every project has risks, and project managers routinely try to identify and address actual and potential risks as early as possible during a project. Consider past project schedules you have created. How many of these were altered during the project life cycle? Did you plan ahead for the unforeseen issues that arose? Did these alterations and issues affect the overall deadline of the project? What were you able to do to limit your project’s risks?
In this module, you continue to look at project planning. Specifically, you address concepts related to the project network diagram, Gantt chart and associated project evaluation methods. You learn how to create a project schedule and how to compress it when required. You also examine the risk management life cycle and mitigation strategies used to keep a project on track.
Assignment : Analysing a Project
Project managers have many responsibilities when developing a project plan. One of the first determinants of the plan is the development of and adherence to schedules. An additional area of responsibility lies in identifying any potential risks that may jeopardise a schedule so those risks can be mitigated as soon as possible. Like any schedule, a project plan schedule is based on the parameters given and is then revised as actual work does or does not occur.
In this module, you will complete Part 3: Time Variance. For this part, using ProjectLibre, create a network diagram and a Gantt chart for your selected project. Embed these items as images in an approximately 500-word analysis that also answers the following questions on your chosen project:
- What risks might you have to mitigate during your project?
- What strategies and tools would you suggest utilising to mitigate them?
- What impact do the effects of task dependencies have on the project network diagram you create for your project?
- When determining the project schedule/Gantt chart and network diagram, what factors did you need to take into account?
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