Project Optimization, Coursework Example

Question 1: Name at least ten (10) keywords you might use in an electronic search for literature. Refer to a thesaurus to see if they are valid for use in the database you plan to access?

The main objective of this section of the capstone project is the identification of the optimization of any given project. This will be done with the aim of the optimization of project processes and the project management lifecycle. A comprehension of techniques, tools, activities and processes that can be employed in project optimization is essential for this section. There are a numerous keywords that are essential for this activity. These key words would trigger and formulate the focus activities related to the optimization of projects. The following are the words:

1. Project Definition: the success of any project is pivoted on the definition of the project. This usually entails the project mission, goals, scope, quality and performance criteria, deliverables, constraints and risks involved.
2. Project Task: this is any activity that is required to be completed in a given time period and require resources and effort in the process.
3. Project Resource: this is any material, service, equipment r personnel that is needed for the completion of any given project task.
4. Project Schedule: this is a timeline of activities and events that is used as an operational timetable, usually represented as a calendar.
5. Project Risk Analysis: the procedure of qualitatively or quantitatively analyzing risks by the estimation of the risks uncertainty and impact
6. Project Risk Management: the development of strategies to mitigate, evade or transfer the risks identified through risk analysis
7. Project Schedule Risk: this is the risk that a project consumes more time than initially planned
8. Project Cost Risk: this is the risk that a project consumes more financial resources than initially planned
9. Project Performance Risk: this is the risk that the project, upon completion, fails to live up to the expected requirements that had validated it
10. Project Scope: this is the sum total of a project’s products, requirements and/or features
11. Project Scope Creep: this is the uncontrolled alterations to a project’s scope
12. Project Critical Path: this is an analysis tool that visually depicts the tasks that should be completed and at which time in a diagram form.

Question 2: Name the logical operators described in this topic you will use between half of your keyword, and explain why. After you have read published research on your topic, if needed, redefine some of your definitions of each variable in light of how other researchers have defined them.

There are logical operators that are required to facilitate the search when conducting searches on the keywords. These logical operators are usually generated from Boolean algebra. Boolean algebra represents variables as either true or false, i.e. as truth values. In the optimization of projects, Boolean algebra is essential in the search capability of projects returning the necessary and specific requested information.The logical operators that are needed in this circumstance first start out in the area of the basic operations including “and”, “or”, and “not”. The “and” provides the connection between two variables which is called conjunction. The next that is needed is the “or” operation. The “or” provides the ability to choose between two variables and the variable would provide results based on either of the search criteria. The last basic function required is the “not”. This is an exclusionary function or referred to as a negation of the operations. When variables are placed in to the search criteria the criteria is removed from the results. All three of these logical operators are needed for the use with the keywords.

Question 3:Name the headings and subheadings you anticipate using to organize your literature review.(Note that these may change after you have carefully examined all the literature on your topic.)

Project Management Framework (Project Management Institute, 2008)

Project Lifecycle

• Project Initiation
• Project Planning
• Project Execution
• Project Closure and Evaluation

Project Management Processes

• Initiating Process
• Planning Process
• Execution Process
• Monitoring and Controlling Process
• Closing Process

Project Management Knowledge Areas

• Project Integration Management
• Project Scope Management
• Project Time Management
• Project HR Management
• Project Quality Management
• Project Cost Management
• Project Communications Management
• Project Risk Management
• Project Procurement Management

Question 4: Will you use sampling to obtain participants for your research? If yes, do you plan to use random sampling, systematic sampling, or some other method of sampling? Explain.

For this particular object we will employ sampling to obtain participants for the research. This will ensure that the project variables, i.e. limit the dynamic variables in order to ensure concise results from the research. Sampling is the best fit method for this kind of project. This is because sampling will provide a general overview of the general opinions of a given population.

The sampling method will be systematic sampling. This will be done through a survey. The survey will be conducted in one center. This will increase access to information by having all the information collected from one center as opposed to having information collected in different centers or areas. This reduces the dynamic variables associated with having a dispersed sample.

The survey tool that will be employed will be a web based program that enables the users to login and create their survey in their own time. It is important that any and all participants taking the survey have enough time to take the survey and have access to the internet. This will allow for the participants to complete the survey at their own time and in their own desired location.

Question 5: Do you anticipate collecting demographics? If yes, list them and explain why you made thatdecision.

We do anticipate to collect demographics. They will involve:

• Work Years
• Age
• Sex
• Education
• Current Position
• Auxiliary or Professional Certification
• Preferred Optimization Tools
• Industry

These demographics will be essential in understanding the results of the survey. They will validate any and all information from the data analysis and expose any prevailing trends.

Question 6: In light of the information in this topic and in the previous topic, what is your anticipated sample size? Explain the basis for your decision

The sample size for this research will involve the members of a project management education institute. The sample will entail from 40 to 50 individuals. The reason for having such a sample is the centralization of the participants. This will enable the research team to be able to collect all the data in one place. This will reduce the man power required to conduct the research, cutting on costs that will be associated with the research. This will also ensure the quality of the information.