- Which type of WBS takes more time but is more accurate?
- What is a work packet?
- How is vacation overtime calculated?
- What is the 100% rule?
- Who creates a WBS?
- How do you create a work breakdown structure?
- What are the different types of WBS?
- What is included in a WBS?
- Why is WBS important?
- Which of the following should adhere to the 8 80 rule?
- What are the rules of the WBS?
- What is control account PMP?
- What are the levels of WBS?
- What is Control Account example?
- How does a control account work?
Which type of WBS takes more time but is more accurate?
The top-down approach, in my opinion, generates a complete and more accurate WBS.
In this approach, the WBS is derived by decomposing the overall project into sub-projects or lower-level tasks.
The decomposition continues until the tasks or work units reach a level where they can be accurately defined and estimated..
What is a work packet?
A work package is a group of related tasks within a project. Because they look like projects themselves, they are often thought of as sub-projects within a larger project. Work packages are the smallest unit of work that a project can be broken down to when creating your Work Breakdown Structure (WBS).
How is vacation overtime calculated?
Overtime and Vacation The employee must physically work at least 40 hours for the workweek to qualify for overtime. Therefore, if she works 35 regular hours and takes 6 vacation hours, the employer pays the entire 41 hours at her regular pay rate.
What is the 100% rule?
The 100-percent rule says that if you want to achieve personal success in any endeavor, you must be 100 percent committed to it. Jack Canfield, author of The Success Principles, famously wrote, “Successful people adhere to the ‘no exceptions rule’ when it comes to their daily disciplines.
Who creates a WBS?
After the project sponsor defines the scope (overall objective), the project manager and team members begin creating the WBS. They decompose (break down) the scope into 4 to 7 major deliverables that are measurable.
How do you create a work breakdown structure?
How to Create a WBS: The High-Level ViewDetermine and describe the project statement.Highlight all the necessary phases of the project.Create and list the deliverables (as well as how success will be measured)Divide the deliverables into manageable tasks.More items…
What are the different types of WBS?
There are two types of WBS: 1) Deliverable-Based and 2) Phase-Based. The most common and preferred approach is the Deliverable-Based approach. The main difference between the two approaches are the Elements identified in the first Level of the WBS.
What is included in a WBS?
WBS is a hierarchical and incremental decomposition of the project into phases, deliverables and work packages. It is a tree structure, which shows a subdivision of effort required to achieve an objective; for example a program, project, and contract.
Why is WBS important?
The main purpose of a WBS is to reduce complicated activities to a collection of tasks. This is important for the project manager because she can oversee the tasks more effectively than the complex activities. Tasks must be measurable and independent, with clearly defined limits.
Which of the following should adhere to the 8 80 rule?
Follow the 8/80 rule as a good rule of thumb that ensures that no task is less than 8 hours or more than 80 hours in the WBS. If a task is greater than 80 hours then it needs to be decomposed further into work packages.
What are the rules of the WBS?
100% rule: Every level of decomposition must make up 100% of the parent level. It should also have at least two child elements. Mutually exclusive: All elements at a particular level in a WBS must be mutually exclusive. There must be no overlap in either their deliverables or their work.
What is control account PMP?
Control Account is a management control point where scope, cost, and schedule are integrated and compared to the earned value for performance measurement. Control Accounts are placed at selected management points in the WBS. … A Control Account usually has one or more work packages.
What are the levels of WBS?
It shows all the work that needs to be accomplished. The WBS contains 100% of all the work in the project. At the top level is the project ultimate goal, the second level contains the project objectives, the third level has the project outputs and the fourth level with activities.
What is Control Account example?
In accounting, the controlling account (also known as an adjustment or control account) is an account in the general ledger for which a corresponding subsidiary ledger has been created. … For example, “accounts receivable” is the controlling account for the accounts receivable subsidiary ledger.
How does a control account work?
A control account is a summary-level account in the general ledger. This account contains aggregated totals for transactions that are individually stored in subsidiary-level ledger accounts. … The ending balance in a control account should match the ending total for the related subsidiary ledger.