Although this last question is allocated only 2 points (so that the quiz total is exactly 100 points), I will score it anywhere between 0 points and 8 points, the added 6 points being extra credit. So, for example, if you scored 92 out of 98 in Questions 1 through 29, but you have a truly outstanding and very well thought out answer for this question, you could score the full 8 points and still get a perfect score on this quiz! If your score adds up to more than 100 after extra credit, I’ll give you 100 but make a note of the extra points (over 100) for consideration when determining your course grade.
Your numbers for Part 1 and Part 2 should have a surprisingly (even shockingly!) high difference (or else you likely made some data entry errors). If you were the project manager, which of the two numbers would you report and why? In practice, most project managers only simulate the critical path (and so do PM textbooks and publications). Having gone through these two simulations, do you think that simulating only the critical path is a good idea? Why or why not?
How would you explain why there was such a huge difference between the two probabilities in simple English and using just a bit of common-sense math to your team, sponsor, or executives?
But if a pupil does not feel they
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For a very large project with several hundreds or thousands of activities, it may be difficult to simulate the entire schedule (as we did in Part 2), so you may be forced to simulate only the critical or near-critical paths. Having completed this exercise, if you were managing such a large project, what other paths (besides the critical and near-critical paths) might you identify for simulation, and why?
What broad realizations have you gained from this lab assignment about the mindset, maturity, and judgment that a good project manager should have, and the what-if questions that a good project manager constantly needs to ask the project team and other stakeholders?
Please share constructive feedback and your honest impressions of this final exam in terms of assessing and adding value to your course learning, level of difficulty, time required, etc.
