Question 1

What is the difference between a project and routine operations?

Accepted Answer

A project is a temporary endeavour with a defined start and end, aimed at creating a unique product, service, or result. In contrast, routine operations are ongoing, repetitive activities that sustain the business. For example, developing a new software application is a project, while processing payroll each month is an operational task. Projects have a clear objective and are closed once completed, whereas operations continue indefinitely.

Question 2

How do I create a Work Breakdown Structure (WBS)?

Accepted Answer

To create a WBS, start by identifying the final deliverable of the project. Then break it down into major deliverables or phases (level 1). Decompose each level 1 element into smaller, manageable components (level 2, 3, etc.) until you reach work packages that can be assigned and estimated. Each work package should be clearly defined, with a single owner. Use a hierarchical format, such as a tree diagram or indented list, and ensure the total scope is covered without overlap.

Question 3

What is the critical path and why is it important?

Accepted Answer

The critical path is the longest sequence of dependent tasks in a project schedule. It determines the shortest possible time to complete the project. Any delay on a critical path task directly delays the project finish date. Identifying the critical path helps you prioritise resources and focus monitoring efforts on those tasks to avoid delays. Non-critical tasks have float (slack) time, meaning they can be delayed without affecting the overall timeline.

Question 4

How do I manage project risks effectively?

Accepted Answer

Effective risk management involves a systematic process: first, identify potential risks through brainstorming, checklists, or expert interviews. Then assess each risk based on its likelihood and impact, often using a probability-impact matrix. Prioritise high-priority risks and develop response strategies: avoid, mitigate, transfer, or accept. Continuously monitor risks throughout the project and update the risk register. Communicate risks to stakeholders and ensure contingency plans are in place.

Question 5

What is the role of a project sponsor?

Accepted Answer

A project sponsor is a senior executive who champions the project, provides resources, and removes obstacles. They are accountable for the project's success and ensure alignment with organisational goals. The sponsor approves the project charter, major changes, and key deliverables. They do not manage day-to-day activities but support the project manager by making high-level decisions and securing funding.

Question 6

How do I close a project properly?

Accepted Answer

Project closure involves several steps: confirm that all deliverables have been completed and accepted by the customer or stakeholder. Conduct a post-project review to document lessons learned, including what went well and what could be improved. Release project resources (team members, equipment) and close any contracts. Finally, archive all project documents and celebrate the team's success. A formal closure report should be submitted to the sponsor.

TLM Level 3 Award in Project Management Fundamentals

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