mgmt308 tutorial 5 and 6

MGMT308 Project Management

Tutorial Week 5

Tutorial 5a – Resource Utilization

(Answer questions after going through Video, Lecture Notes and relevant book chapter) Video: https://youtu.be/CxapGqlh3Fg Jennifer Witt Title: How to Manage Resources

1. What are the steps suggested to use good resource management?

2. When using “real time” time tracking, what is to be avoided to ensure timely tracking?

Tutorial 5b – Determining Costs, Budget, and Earned Value (Answer questions after going through Video, Lecture Notes and relevant book chapter)

Video: https://youtu.be/VI0Qh_VpIEw Phill Alzinwale Title: Earned Value Management Basics

1. What are the three basic questions to ask regarding the budget and earned value management in a project?

2. What are formulas for earned value management?

3. What is the criteria to determine if the cost or schedule variance is over budget or under budget and over schedule or under schedule?