Lesson 14 Project And Program Management
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Jules Dupuit | French Engineer
Developed the cost benefit analysis in 1848
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| Cost Benefit Analysis - when did it become common practice? | Became common as a result of the Federal Navigation Act of 1956
Navigation Act: required that the US Army Corps undertake waterway systems projects when the total benefit exceeds the costs of the project
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| Cost Benefit Analysis (1) | Analysis requires that all costs and benefits be converted to a monetary value
In order to determine the cost-benefit, the proposed project is compared against the current situation without the project
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| Cost Benefit Analysis (2) | If the ratio of benefits over costs is greater than one, then the monetary benefits of the project outweigh its monetary
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| Cost-Effective Analysis | Method for selecting among completing projects when resources are limited, was developed by the military
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| Cost-Effectiveness Ratio | CE = (cost of new strategy - cost current practices) / (effective new strategy - effect current practice)
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| New Present Value | Shows the net monetary value of a project, discounted to today's present value
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| Internal Rate of Return (1) | Alternative calculation to net present value
Projects net present value is at zero and the interest rate is blank
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| Internal Rate of Return (1) | If the calculation results in an interest greater than the available market interest rate than the project wold be financially beneficial
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| Project Management Techniques | Goals Achievement Matrix (GAM)
Gantt Chart
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| Goals Achievement Matrix (1) | Comprehensive way to evaluate a project
A project evaluation matrix that includes completing projects in rows and the evaluation criterion columns
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| Goals Achievement Matrix (2) | The evaluation criteria are based on the various stakeholder groups that be impacted by the costs or receive benefits
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| Gantt Project | Developed by Charles Gantt in 1917
Chart focuses on the sequence of tasks necessary for project completion
Tool to help you think through the task involved in a project
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| Linear Programming | Project management method that attempts to find the optimum design solution for a project
The system takes a set of decision variables within constraints and comes up with an optimum design solution
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| Program Evaluation and Review Technique (PERT) | A scheduling method that graphically illustrates the interrelationships of project tasks
Good choice when precise time estimates are not available for projects tasks
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| Critical Path Method (CPM) | The analysis results in a "critical path" through the project tasks
Project management technique that helps with decision making
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| Fiscal Impact Analysis | Purpose is to estimate the impact of a development, land use change or plan
FIA projects cash flow to the public sector
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| Economic Impact Analysis | Focuses on cash flow to the private sector
Measured in income, jobs, output, indirect impacts, etc.
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| Working with Consultants | Comply with local and state procurement requirements
Do not play with consultants
Understand consultant's costs
Identify the best way to use consultants hired to supplement or replace staff
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
amshinn18
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