Exit Strategies It’s difficult to believe that after going through everything it takes to get a small business up and off the ground, often times the next steps are to….
What are the strengths and weaknesses of using a Gantt chart for representing a project plan? How about a Network diagram and a PERT diagram?
Here I have a few questions that need answering. Please read carefully and answer questions separately.
1) What are the strengths and weaknesses of using a Gantt chart for representing a project plan? How about a Network diagram and a PERT diagram? When they should be used ? Is one method “better” than the other? Should we combine them together?
DQ 2.1: Based upon your assigned readings from sessions 1 and 2, how could you use tables or charts in:
- Ranking of project risks to scope
- Displaying risks to project resources or project budgets
- Identifying risks in scheduling that would ‘impact’ the critical path
Review formats of a Probability & Impact matrix (p.83), a Risk Breakdown Structure and other visual examples in the “Appendix D” of the Practice Standards for Risk Management (PMI, 2009) before posting your response.
3) DQ 2.2: Understanding the terms Project Risk Management is key to manage projects. Select any assigned readings from the worldwide standards PMBOK Guide (PMI, 2017) or “Practice Standards” (PMI, 2009) assigned for session 2 to cite in your response. Then explain why “estimating” (durations or projected budgets) can be one of the riskiest aspects of any project and why a PM needs to understand how to estimate time-on-task to mitigate schedule and/or scope risks.