Unit 4

4 CO Answer the following

4
1 Analyze the key objectives of project monitoring and evaluate its role in 5
achieving project success.
Answer:
Key Objectives of Project Monitoring:
1. Tracking Progress Against the Plan
 Monitoring ensures that project activities are progressing
according to the timeline, scope, and budget established in the
project plan.
 It highlights any deviations early so corrective action can be
taken promptly.
2. Ensuring Quality Standards
 By continuously evaluating deliverables and processes, project
monitoring helps maintain adherence to quality benchmarks and
client expectations.
3. Risk Management
 Regular monitoring identifies new risks and evaluates the impact
of existing risks.
 It enables proactive management to mitigate threats or capitalize
on opportunities.
4. Resource Management
 Monitoring tracks how resources (people, equipment, materials)
are utilized and ensures they are allocated efficiently.
 It prevents overuse, bottlenecks, or shortages that could derail the
project.
5. Stakeholder Communication
 It ensures stakeholders are kept informed of progress, challenges,
and changes, promoting transparency and trust.
 Regular reporting allows for timely feedback and support.
6. Budget Control
 Monitoring costs helps detect overspending early and allows
financial corrections to be made before problems escalate.
Role of Project Monitoring in Achieving Project Success:
 Early Detection and Correction.
 Maintaining Alignment with Goals
 Increased Accountability
 Enhanced Risk Preparedness
 Optimized Resource Usage
 Improved Stakeholder Satisfaction
 Supports Continuous Improvement
2 How can project monitoring be used to detect and assess potential project risks? 5
Answer :
1. Tracking Key Indicators:
Monitoring involves keeping a close eye on critical project parameters —
like schedule, budget, resource usage, and quality metrics. Any deviation
from the plan can hint at an emerging risk.
2. Regular Progress Reviews:
Frequent project status meetings and reviews allow teams to discuss
issues openly. During these reviews, new risks can be identified based on
recent developments, changes in the environment, or performance gaps.
3. Performance Trend Analysis:
Tools like Earned Value Management (EVM) help analyze cost and
schedule performance trends.
4. Stakeholder Feedback:
Ongoing communication with stakeholders through surveys, interviews,
or informal check-ins helps surface concerns that may not be visible in
project metrics.
5. Risk Audits and Health Checks:
Structured audits and project health checks, performed periodically,
assess how well the risk management plan is working and if new risks
have emerged.
6. Issue Logs and Risk Registers:
Monitoring maintains active issue logs and risk registers.
7. Change Control Processes:
When change requests are submitted, monitoring their frequency and
nature can highlight areas where risks are materializing.
3 Examine the essential components of an effective project monitoring and control 5
system and their impact on project performance.
Answer:
Clear Project Business Case Document
 Business Case Document for scope, schedule, cost, and quality against
which project performance can be measured.
 Without clear baselines, it's impossible to objectively measure progress or
identify deviations. Baselines set the standard for performance and guide
corrective actions.
2. Performance Measurement Tools and Techniques
 Key Performance Indicators (KPIs), milestone tracking, and dashboards.
 Accurate measurement improves decision-making and enhances project
predictability.
3. Regular Status Reporting
 Scheduled communication of project status to stakeholders through
reports, meetings, or briefings.
 Frequent updates build trust, maintain stakeholder engagement, and help
in rapidly adjusting plans when issues arise.
4. Risk Management
 Continuous identification, assessment, and mitigation of project risks.
  Proactive risk management reduces uncertainty, increases resilience, and
minimizes negative impacts on cost, time, and quality.
6. Issue and Action Management
 A system for logging, tracking, and resolving project issues and actions.
 Quick resolution of issues prevents escalation into major problems,
improving project delivery and team morale.
4 How can Key Performance Indicators (KPIs) be analyzed to measure and improve 5
project progress?
Answer:
. Define the Right KPIs
 Make sure KPIs are SMART: Specific, Measurable, Achievable,
Relevant, and Time-bound.
2. Collect Data Regularly
 Gather data consistently (daily, weekly, monthly depending on project
size).
3. Analyse the Trends
 Are they improving, staying flat, or declining?
 Look at variance: Where are you ahead or behind plan?
 Identify patterns: Are delays happening at specific project phases or with
certain teams?
4. Benchmark Against Targets
 Compare current performance to predefined benchmarks or baselines.
5. Identify Root Causes
 Understand why targets aren't being hit, not just that they aren't.
6. Take Corrective Actions
 Adjust project plans, resources, workflows, or priorities based on insights.
7. Communicate Findings
 Use clear visuals: charts, graphs, traffic light status indicators
(red/yellow/green).
8. Continuously Improve
 Treat KPI analysis as a feedback loop.
5 Compare and contrast proactive and reactive approaches to project monitoring in 5
terms of effectiveness and impact.
Answer:
Proactive Project Monitoring
Proactive monitoring involves anticipating problems before they occur and taking
preventive actions to keep the project on track.
 High effectiveness when risks are correctly identified early.
 Helps maintain control over project scope, schedule, and budget.
 Encourages continuous improvement and early risk mitigation.
 Positive project atmosphere—team feels supported and prepared.
 Can lead to higher client satisfaction due to fewer surprises.
 Requires more resources planning, monitoring, risk assessments.
 Reactive Project Monitoring
Reactive monitoring involves addressing issues after they arise, focusing on
problem-solving and damage control.
 Variable effectiveness—depends on how quickly and competently the
team responds.
 Good for unexpected, low-frequency issues that could not have been
anticipated.
 Often less consistent in maintaining project performance.
 Can cause stress and chaos when problems accumulate.
 Resource-intensive at the time of crisis (emergency meetings, quick
fixes).
 Potential for higher costs (both financial and reputational) if issues
escalate.
 Sometimes necessary for rare or unforeseeable problems.
6 What critical factors should be analyzed when designing an effective project 5
monitoring and control system?
Answer:
The critical factors you should definitely analyze:
1. Clear Objectives and KPIs
 Define what success looks like.
 Set measurable key performance indicators (KPIs) for schedule,
cost, quality, and scope.
2. Baseline Plans
 Establish solid baselines for scope, schedule, and budget.
 These serve as the point of comparison for actual performance.
3. Real-Time Data Collection
 Ensure timely, accurate, and consistent data gathering.
4. Risk Management Integration
 Monitor risks continuously, not just during planning.
 Include early warning systems and plans.
5. Communication Channels
 Build clear, fast communication paths for reporting and escalation.
 Stakeholders at all levels must receive the right information at the
right time.
6. Change Management Process
 Design a structured process for identifying, analysing, and
approving changes.
 Uncontrolled changes can wreck monitoring accuracy.
7 How can a project monitoring system be adapted to accommodate projects of 5
varying sizes and complexities?
Answer :
 Build the system with modules (e.g., reporting, risk tracking, budgeting)
that can be turned on/off based on the project's needs.
 Have lightweight processes for small projects and more rigorous, formal
ones for large, complex projects.
 Allow users to pick relevant key performance indicators (KPIs) depending
 on the project's scope.
 Let small projects set simple milestones, while larger ones track multiple
detailed metrics.
 Fewer roles, maybe a single project owner and contributors.
 Hierarchical roles like project managers, sponsors, team leads,
stakeholders with different levels of access.
 Simple status updates for small projects.
 Only critical risks/issues are logged.
 Risk registers, categorization, mitigation plans, continuous monitoring.

8 Evaluate the role of technology and software tools in enhancing project 5

monitoring and control processes.
Answer:
1. Software tools like MS Project, Trello, and Jira allow project
managers to monitor progress in real-time.
2. Dashboards and live reporting features provide immediate insights into
project status, milestones achieved, resource usage, and budget
adherence.
3. Tools like Slack, Microsoft Teams, and Zoom support instant
communication among geographically dispersed project teams.
4. Centralized platforms reduce misunderstandings, promote
transparency, and ensure that stakeholders are aligned with project
goals and changes.
5. Technology collects and analyzes large volumes of project data (e.g.,
timelines, costs, risks).
6. Analytics and AI-driven tools help predict project outcomes, identify
risk factors, and recommend actions, enabling informed and strategic
decisions.
7. Automated scheduling, reminders, progress tracking, and document
management save time and reduce the likelihood of human error.
8. For instance, change request management and approval workflows can
be automated, leading to faster process cycles.
9. Risk management software identifies potential risks early, categorizes
them, and suggests mitigation strategies.
10. Tools optimize resource allocation by tracking workload, skills, and
availability.
11. They prevent overallocation, underutilization, and burnout, ensuring
better team performance and project outcomes.
12. Modern tools often integrate with ERP systems, financial management
software, and CRM platforms.
9 Evaluate the common challenges in implementing a monitoring and control 5
system,
Answer:
1. Setting up a monitoring and control system often requires significant
investment in hardware (sensors, controllers), software, and skilled
personnel.
 2. New systems must often be integrated with older, legacy systems that
may not be fully compatible.
3. Monitoring systems can generate massive amounts of data.
4. Connected monitoring systems (especially IoT-based) are potential
targets for cyberattacks.
5. Setting up and maintaining the system may require specialized
technical knowledge in fields like networking, automation, and data
analytics.
6. Employees or operators may resist new systems due to fear of job
displacement, added complexity, or skepticism about benefits.
7. Monitoring and control systems themselves can fail due to hardware
malfunctions, software bugs, or network issues.
8. Each organization often has unique monitoring needs.
10 Assess the impact of real-time data collection on the efficiency and accuracy of 5
project monitoring.
Answer:
1. Real-time data collection significantly enhances the speed at which
project status can be monitored and adjusted. It enables project managers
and teams to:
2. Identify issues immediately, minimizing delays and reducing the risk of
project overruns.
3. Streamline decision-making by providing up-to-date information,
allowing quicker, evidence-based responses.
4. Automate reporting, cutting down on manual data entry and analysis,
freeing up team resources for more strategic activities.
5. Real-time updates reduce human error associated with periodic or
manual data collection by:
6. Providing continuous, automated updates from reliable data sources.
7. Allowing for constant validation and verification of project data,
ensuring that project status reflects the actual situation rather than
outdated estimates.
8. Real-time visibility fosters:
9. Better stakeholder communication, as reports and dashboards reflect
the real status at any given time.
10. Accountability among team members, since progress (or lack thereof)
is continuously tracked and visible.
11 Analyse the primary sources of conflict in a project environment, and how do 5
they influence project outcomes?
Answer:
Primary Sources of Conflict in a Project Environment
1. Conflict arises when: Multiple tasks or teams compete for limited
resources (people, equipment, budget).
Influence on project: Delays, incomplete tasks, lowered morale, and
increased project costs.
2. Conflict arises when: Different stakeholders or teams have competing
deadlines or priority views.
 Influence on project: Missed deadlines, rushed work, or poorly
coordinated deliverables.
3. Conflict arises when: Team members are unclear or disagree about who is
responsible for what.
Influence on project: Duplication of efforts, overlooked tasks,
accountability issues.
4. Conflict arises when: Information is misunderstood, withheld, or poorly
shared.
Influence on project: Mistrust, errors, wasted time, and misalignment of
project goals.
5. Conflict arises when: Team members have conflicting working styles,
attitudes, or values.
Influence on project: Tension within the team, reduced collaboration, and
overall productivity loss.
6. Conflict arises when: Team members or stakeholders have different
opinions on technical solutions or approaches.
Influence on project: Stalemates in decision-making, slowed innovation,
or inferior technical outcomes.
12 Analyze different types of conflict that may arise in a project and their potential 5
consequences.
Answer:
Disagreements about the work itself—how tasks should be performed, priorities, or
technical decisions.
 Positive: Can lead to better solutions, innovation, and improved processes if
managed well (healthy debate).
 Negative: If not resolved, can cause delays, reduced productivity, and frustration
among team members.
Personal incompatibilities among team members (personality clashes, communication
styles, etc.).
 Negative: Decreases morale, increases stress, damages team cohesion, and may
cause members to avoid working together.
 Long-term: Can lead to high turnover rates if toxic relationships persist.
Competition over limited resources like budget, tools, personnel, or time.
 Negative: Leads to bottlenecks, incomplete tasks, and a scramble for resources
that affects project scope and deadlines.
 Organizational impact: Can escalate into departmental friction if multiple
teams are involved.
Unclear roles, overlapping responsibilities, or disputes about authority and decision-
making.
 Negative: Causes confusion, duplication of work, and tasks being neglected.
Also lowers accountability and ownership of tasks.
 Wider impact: Damages trust in leadership and project organization.
Disagreements about what tasks or objectives should be prioritized.
 Negative: Misaligned goals, wasted effort on less important tasks, and overall
project inefficiency.
 Positive (rare): Can promote dialogue on strategic alignment if handled openly.
13 Compare and evaluate key conflict resolution styles and their effectiveness in 5
various project scenarios.
Answer:
Style Description Strengths Weaknesses
One person pursues Quick Can breed
their own concerns at decisions, resentment,
Competing
the expense of others. shows harm
"Win-lose" approach. strength. relationships.
Both sides work Time-
Builds trust,
together to find a consuming,
long-term
Collaborating mutually beneficial requires
solutions,
solution. "Win-win" commitment
innovation.
approach. from all parties.
Each side gives up Faster than
May result in
something to reach an collaboration,
Compromising suboptimal
acceptable solution. maintains
outcomes.
"Partial win" for all. relationships.
Good for
Unresolved
Sidestepping the minor issues
conflicts can
Avoiding conflict without or when
worsen over
directly confronting it. emotions are
time.
high.
Preserves
May lead to
One party gives in to harmony,
Accommodating exploitation or
the wishes of another. good for
resentment.
minor issues.

Best Conflict
Scenario Why
Style(s)
Decisions need to be made fast;
Tight Deadlines Competing or competing can enforce quick
(urgent issues) Compromising action, compromising can
maintain team morale.
Encourages innovative solutions
Cross-Functional
Collaborating and builds understanding across
Team Disputes
different departments.
Minor issues don't derail the
Low-Impact Avoiding or
project; keeps momentum going
Disagreements Accommodating
without unnecessary escalation.
Collaboration builds strong
High-Stakes Project Collaborating or ownership of outcomes;
Deliverables Competing competing might be necessary
when delays are unacceptable.
Ensures durable solutions and
Long-Term Strategic
Collaborating strong relationships, critical for
Initiatives
sustained project success.
Resource Allocation Helps fairly distribute limited
Compromising
Disputes resources without major fallout.
14 Point out how effective communication strategies be utilized to prevent and 5
resolve project conflicts?
Answer:
 Prevent conflicts by clearly defining project goals, individual roles,
deadlines, and responsibilities from the start.
 Misunderstandings are reduced when everyone knows what is expected.
 Resolve conflicts by ensuring all parties feel heard and understood.
 Listening without interrupting helps uncover the real issues behind a
disagreement.
 Prevent conflicts by fostering a culture where people feel comfortable
raising concerns early.
 Resolve conflicts by sharing all relevant information honestly to avoid
hidden agendas.
 Prevent conflicts by providing regular, constructive feedback rather than
letting small issues grow into big ones.
 Early correction helps maintain trust and alignment.
 Prevent conflicts by matching the channel to the message:
 Use face-to-face (or video calls) for sensitive or complex
discussions.
 Email or project management tools for simple updates.
 Resolve conflicts by choosing private, respectful settings for delicate
conversations.
 Prevent conflicts by having clear procedures in place for handling
disagreements.
 Resolve conflicts systematically (e.g., identify the issue → discuss calmly
→ find common ground → agree on actions).
15 Outline which stakeholder conflict management strategies can project managers 5
implement to maintain project stability?
Answer:
 Identify stakeholders early in the project and analyze their interests,
influence, and potential conflicts.
 It helps to Anticipates and reduces misunderstandings before they
escalate.
 Maintain open, frequent, and honest communication channels with all
stakeholders.
 It helps to Builds trust, clarifies expectations, and minimizes rumors or
assumptions.
 Use a Responsibility Assignment Matrix (like RACI) to make stakeholder
roles crystal clear.
 It helps to Reduces overlaps and gaps that can cause conflict.
 Establish formal conflict resolution procedures
 It helps to Provides a structured approach to resolving issues quickly and
fairly.
  Involve stakeholders in decision-making processes, especially those who
are most impacted.
 It helps to Increases buy-in and reduces resistance to project outcomes.
 Create feedback loops through regular surveys, meetings, or informal
check-ins.
 It helps to Surfaces issues early and allows adjustments before problems
grow.
16 Analyze the concept of risk and its critical role in project management. 5
Answer:
Risk in Project Management
Risk refers to any uncertain event or condition that, if it occurs, can have a
positive or negative impact on a project's objectives, such as scope, schedule,
cost, and quality.

Critical Role of Risk in Project Management

1. Risk Identification
Early recognition of potential risks allows teams to anticipate problems
rather than react to them. Techniques like brainstorming, SWOT
analysis, and expert interviews help uncover hidden risks at the
beginning and throughout the project.
2. Risk Analysis
Not all risks are equal. Through qualitative and quantitative analysis,
project managers assess the probability of occurrence and potential
impact of each risk. This prioritization ensures focus on the most
significant risks.
3. Risk Response Planning
Once identified and analyzed, teams develop strategies:
 Avoidance (changing the plan to sidestep the risk),
 Mitigation (reducing the likelihood or impact),
 Acceptance (acknowledging the risk and choosing to deal with it
if it occurs),
 Exploitation or Enhancement (for positive risks).
4. Proactive Decision Making
Risk management enables better, faster decisions. By understanding
potential threats and opportunities, project managers can create
contingency plans, allocate resources more efficiently, and maintain
project momentum.
5. Maintaining Project Stability
Managing risks effectively reduces unexpected disruptions. Projects that
actively monitor and control risks are more likely to stay on schedule,
within budget, and meet quality standards.
17 Illustrate how does a structured risk management process enhance the likelihood 5
of project success?
Answer: ( Elaborate each point with help of a common example)
Identify Risks → Analyze Risks → Plan Responses → Monitor & Control Risks
→ Achieve Project Goals
18 Examine the key steps in the risk management process and their 5
interdependencies.
Answer: : ( Elaborate each point )
Identify Risks → Analyze Risks → Plan Responses → Monitor & Control Risks
→ Achieve Project Goals
Interdependencies Between Steps
 Identification → Assessment:
You can't assess or prioritize risks that you haven't identified. Solid
identification improves the quality of assessment.
 Assessment → Planning:
Assessment determines which risks are significant enough to require a
formal response. Planning is useless without clear understanding from
assessment.
 Planning → Monitoring:
Without planning, there is nothing to monitor. Monitoring is based on
pre-planned strategies and triggers.
 Monitoring → Re-identification:
During monitoring, new risks often emerge, leading back into
identification — the process is iterative rather than strictly linear.
19 Analyze how internal and external project risks differ, and what are their 5
respective implications?
Answer:
Internal Project Risks:
 Definition: Risks that originate within the project or organization.
 It includes
 Poor project planning
 Team skill gaps
 Budget miscalculations
 Equipment failures
 Miscommunication among stakeholders
 Implications:
 If not managed well, internal risks can erode trust, derail
schedules, and inflate costs.
 However, because they are internal, there’s usually a clear path to
intervention and correction.
External Project Risks:
 Definition: Risks that come from outside the project or organization.
 It includes
 Regulatory changes
 Economic downturns
 Supply chain disruptions
 Natural disasters
 Competitor actions
 Implications:
 External risks can force major project pivots.
  They often require agility and resilience — being able to adapt
quickly to external shocks is key.
 Sometimes, you can only influence (not control) them by
lobbying, diversifying suppliers, buying insurance, etc.

20 Assess the significance of risk identification and assessment in proactive project 5

management.
Answer:
Key Benefits of Risk Identification and Assessment
1. Early Detection and Mitigation: By systematically identifying and
evaluating risks at the project's outset, teams can implement strategies to
prevent or lessen their impact, thereby reducing the likelihood of delays
and cost overruns.
2. Informed Decision-Making: Understanding potential risks allows project
managers to make strategic choices regarding resource allocation,
scheduling, and contingency planning, leading to more resilient project
execution.
3. Enhanced Stakeholder Confidence: A proactive risk management plan
demonstrates due diligence and preparedness, fostering trust among
stakeholders and potentially leading to increased support and investment.
4. Continuous Improvement: Regular risk assessments encourage a culture
of continuous monitoring and learning, enabling teams to adapt to new
challenges and refine processes over time.
21 Examine how is a risk matrix utilized in project management to assess and 5
prioritize risks?
Answer:
A risk matrix is a simple but powerful tool used in project management to
assess and prioritize risks. It helps teams visualize and rank risks based on two
main factors:
1. Likelihood (or probability) — how likely it is that a risk will occur.
2. Impact — how severe the consequences would be if the risk happens.
How it works:
 Step 1: Identify Risks
List all possible risks that could affect the project.
 Step 2: Assess Each Risk
For each risk, determine:
 How likely it is to happen (e.g., rare, unlikely, possible, likely,
almost certain).
 How big the impact would be (e.g., insignificant, minor,
moderate, major, catastrophic).
 Step 3: Plot Risks on the Matrix
You place each risk into a cell of the matrix, where the x-axis typically
shows the likelihood and the y-axis shows the impact.
 Step 4: Prioritize
Risks that are high likelihood and high impact (top right corner) are the
most urgent.
 Risks with low likelihood and low impact (bottom left corner) are less
critical.
22 Analyze the four main risk response strategies and how they apply in different 5
project contexts.
Answer:
1Avoidance
 Changing the project plan to eliminate the threat or protect project
objectives from its impact.
 How it's used:
 High-risk projects (e.g., building a nuclear facility, health-related
projects) where safety or compliance is critical.
2. Mitigation
 Reducing the probability or impact of a threat to an acceptable threshold.
 Technology projects (like software development) where risk can rarely
be fully avoided but can be minimized.
3. Transfer
 Shifting the risk and its impact to a third party.
 Construction, engineering, or insurance-heavy projects, where
contracts or warranties are common tools.
4. Acceptance
 Acknowledging the risk and deciding not to take any action unless the risk
occurs.
 Low-budget or agile projects where some level of risk is acceptable, or
mitigation is too costly.
23 Examine how do risk mitigation strategies contribute to improving project 5
success rates?
Answer:
Risk mitigation strategies play a crucial role in improving project success rates
by anticipating, reducing, and managing potential threats before they escalate.
1. Early Identification of Problems
 Risk mitigation encourages teams to identify risks early in the
project lifecycle.
 Early detection means more options for dealing with threats at
lower costs and effort, increasing the likelihood of staying on
schedule and budget.
2. Proactive Planning
 Instead of reacting to crises, teams proactively plan how to avoid
or minimize risks.
 This leads to greater control over project outcomes and helps
maintain stakeholder confidence.
3. Resource Optimization
 By knowing what risks are most probable and impactful, project
managers can allocate resources efficiently (money, time,
manpower) to areas of greatest need.
 This ensures that critical tasks are not derailed unexpectedly.
4. Improved Decision-Making
  Risk strategies create structured frameworks for decision-making
under uncertainty.
 Teams can make faster, more informed decisions, preventing
paralysis during critical moments.
5. Enhanced Communication and Team Alignment
 Risk management fosters open communication about potential
issues.
 Everyone knows what to watch for, what to prioritize, and how to
act if problems arise, leading to stronger team coordination.
24 Explain the concept of risk transfer and evaluate its practical applications in 5
projects.
Answer:
Concept of Risk Transfer
Risk transfer is a risk management strategy where the responsibility (and often the
financial consequences) of a risk is shifted from one party to another. Instead of
trying to eliminate or reduce the likelihood of the risk, you simply move its impact
to someone else, typically through contracts, insurance, or outsourcing.
Application
Example of Risk Transfer Impact
Area
Reduces
financial
Construction Hiring subcontractors and requiring them to
exposure from
Projects carry liability insurance.
accidents or
defects.
Transfers
operational
Using cloud services with service-level
IT Projects risks (like
agreements (SLAs) that guarantee uptime.
server failures)
to vendors.
Protects against
Event losses due to
Purchasing event cancellation insurance.
Management unforeseen
cancellations.
Reduces the
Engineering Consultants sign contracts agreeing to bear project's
Design the cost of errors. liability for
design flaws.

Strengths:
 Predictability: It provides more certainty around costs and legal
exposures.
 Focus: Project teams can concentrate on core activities without being
distracted by risks they've transferred.
 Professional Handling: Risks are often better managed by specialized
parties (like insurance companies)
25 Analyze the four main risk response strategies and how they apply in different 5
project contexts.
26 Assess the importance of continuous risk monitoring and its impact on project 5
sustainability.
Answer:
Continuous risk monitoring is a critical aspect of project management that
significantly influences the long-term sustainability of a project. It involves
systematically identifying, assessing, and managing risks throughout the lifecycle
of a project to ensure that potential threats are addressed promptly and effectively.
 By continuously monitoring risks, project managers can anticipate
potential issues before they become serious problems. This proactive
approach ensures that there is enough time to mitigate risks and find
solutions, reducing the likelihood of project failure.
 Risks evolve over time, and without ongoing monitoring, a project may
be caught off-guard by new risks that were not initially identified.
Continuous monitoring helps keep the team aware of any emerging
risks, allowing them to take corrective actions immediately.
 Identifying risks early allows for the allocation of resources to mitigate
or avoid them, often preventing the need for costly emergency
responses later in the project.
 Delays are one of the biggest threats to project sustainability. By
monitoring risks continuously, a project team can avoid delays by
addressing issues as they arise, keeping the project on schedule.
 Continuous risk monitoring communicates that the project team is
dedicated to the project’s success and is taking steps to minimize
uncertainty.
27 Analyze commonly used project management techniques and their role in 5
effective planning and execution.
Answer:
Waterfall Method
 The Waterfall method is a traditional, linear project management approach
where each phase must be completed before moving on to the next. It is
often used in industries where requirements are well-defined at the
beginning, such as construction or manufacturing.
Agile Method
 Agile is an iterative and incremental approach, particularly popular in
software development. Projects are broken into small, manageable units
called sprints, with regular reviews and adaptations based on feedback.
Scrum
 Scrum is a specific Agile framework that divides projects into cycles
known as "sprints," typically lasting 2-4 weeks. It involves regular
meetings (daily stand-ups) to ensure the team stays aligned.
Kanban
 Kanban is a visual project management technique that focuses on
workflow optimization by visualizing work items on boards (physical or
digital). Work is limited in progress to improve efficiency and flow.
 Six Sigma
 Six Sigma aims to improve quality by identifying and removing the
causes of defects or variability in processes. It uses statistical analysis
to make data-driven decisions.
28 Evaluate the role of Earned Value Management (EVM) in measuring project 5
performance and progress.
29 Outline the benefits and limitations of using Gantt charts in project management 5
Answer:
Benefits of Gantt Charts:
1. Clear Visualization of the Project Timeline
 Shows the start and end dates for all tasks.
 Helps everyone easily understand the project flow at a glance.
2. Improved Task Management
 Breaks down complex projects into smaller, manageable tasks.
 Assigns responsibilities clearly to team members.
3. Enhanced Communication
 Provides a visual tool for updates during meetings.
 Keeps team members, stakeholders, and clients aligned.
4. Tracks Progress
 Helps managers see if tasks are on schedule, behind, or ahead.
 Allows quick identification of potential delays.
Limitations of Gantt Charts:
1. Can Become Overly Complex
 For large projects with hundreds of tasks, charts can become
cluttered and hard to read.
2. Time-Consuming to Maintain
 Requires frequent updates to stay accurate, especially in dynamic
projects.
3. Focuses on Schedule, Not Quality
 Emphasizes deadlines and timelines, which can sometimes
overshadow quality or value delivery.
4. Hard to Show Task Flexibility
 Gantt charts are rigid; adapting to rapid changes can be tricky
without major reworking.

30 Assess the importance of continuous risk monitoring and its impact on project 5
sustainability.