PROJECTMANAGEMENT314 (Project Management 314) Exam Notes: Stellenbosch Business School Study Guide (USB Project Management Programme Guides)

Project Management 314 (PROJECTMANAGEMENT314) is typically assessed through a mix of conceptual understanding, applied scenarios, and calculation-based questions—especially around planning, risk management, scheduling, cost control, quality, and stakeholder communication. In this study guide (written in the style used by Stellenbosch Business School Programme Guides), the focus is on exam-ready clarity: definitions, frameworks, and “how to answer” patterns that help you score consistently.

This guide is aligned to common themes that show up in South African university project management assessments (including those like USB Project Management modules, and closely comparable coverage in modules commonly found at institutions such as Unisa and CUT). You’ll see practical examples, step-by-step processes, typical exam traps, and scenario-based reasoning that mirrors what you are likely to encounter in a PROJECTMANAGEMENT314 paper.

1) Project Foundations & Governance for PROJECTMANAGEMENT314 (USB Exam Focus)

What “Project” Means (and Why It Matters in Exam Answers)

A recurring exam issue is that students describe activities as projects when they are actually operations. In PROJECTMANAGEMENT314, you must clearly distinguish:

Project: a temporary endeavour with a defined start and end, creating a unique product/service/result.
Operations: ongoing, repetitive work with predictable outputs.

Exam-ready indicators of a project:

Temporary: has a timeline to completion.
Unique outcome: not a routine repeat of prior work.
Constraints: scope, time, cost, quality, and risk are controlled.
Cross-functional involvement: multiple roles/teams collaborate.

Practical example:

“Launching a new e-commerce platform in 9 months” is a project (unique outcome, time-bound).
“Handling monthly customer support tickets” is operations.

The examiner usually rewards wording like: “This work is a project because it is temporary and creates a unique deliverable under constraints.”

Project Governance: Who Decides What?

Project governance is how decisions are made and how accountability is structured. Many students understand project management processes but lose marks because they can’t map responsibilities to governance levels.

A typical governance structure includes:

Sponsor (executes authority, ensures funding and strategic alignment)
Project Steering Committee / Project Board (oversight, approves major changes)
Project Manager (day-to-day leadership, integrates plan and execution)
Functional Managers / Team Leads (provide resources, manage staff in their functions)
Project Team (delivery of work packages/activities)
Customers / Stakeholders (requirements, acceptance, feedback)

How to respond in an exam:
When asked “who should approve this change?”, don’t guess. Use a rule-based answer:

Routine decisions: project manager (within delegated authority).
Major scope/time/cost changes: steering committee / project board.
Strategic misalignment / funding changes: sponsor (often with board approval).

Scenario (typical):
A vendor offers to reduce cost but requires adding two weeks and reducing warranty service. This affects scope/quality and cost/schedule. The correct response usually is:

Document the change impact (scope, cost, risk, schedule)
Run change control
Seek approval from the appropriate governance body (often board/sponsor depending on magnitude)

Stakeholder Identification and Power/Interest Mapping

Stakeholders include anyone affecting or affected by the project. In PROJECTMANAGEMENT314, stakeholder management is usually assessed both conceptually and as part of planning/communication.

A common exam tool: power/interest grid. Categories:

High power, high interest: manage closely (keep informed, involve frequently)
High power, low interest: keep satisfied (minimal but sufficient engagement)
Low power, high interest: keep informed (regular updates, solicit input)
Low power, low interest: monitor (watch for issues)

Concrete USB-style example (South African context, realistic):
A municipality building a water infrastructure upgrade includes:

High power, high interest: municipal engineers, treasury/funding officers, regulator
High power, low interest: national department representatives
Low power, high interest: local community committees, school principals near construction sites
Low power, low interest: distant media groups with limited project visibility

In an exam question, you might be asked: “Propose a stakeholder communication plan.” Your answer should mention:

What message content is needed for each group
Frequency and channel (meetings, emails, notices)
Responsible owner (project manager vs communications officer)
Trigger events (e.g., when road closures begin)

Project Life Cycle and Phase Gates

A life cycle breaks a project into phases, with decision points (“phase gates”) where approval is obtained before moving forward.

Common life cycle phases:

Initiation (business case, feasibility, appointment of project manager)
Planning (scope, schedule, budget, risk, procurement, communications)
Execution (resource allocation, delivery)
Monitoring & Controlling (track progress and correct variances)
Closing (handover, lessons learned, contract closure)

Phase gate example:
Before moving from planning to execution, management might require:

Approved project charter
Baseline schedule and cost estimate
Risk register reviewed
Procurement strategy agreed
Stakeholder communication plan

Exam trap:
Students talk about “phases” but forget the governance approval that makes phase gates meaningful.

Project Charter: Minimum Content That Scores Marks

A project charter typically includes:

Project purpose and justification
Objectives and success criteria
High-level scope boundaries
Milestones (high-level timeline)
Key stakeholders and roles
High-level budget estimate
Summary risk considerations
Authority and appointment of project manager

In answers, include phrasing such as:

“Success criteria” (measurable outcomes)
“Assumptions and constraints” (important for later planning and risk)

2) Planning & Scheduling (Work Breakdown, Networks, Critical Path, and Cost Baselines)

From Business Need to Work Breakdown Structure (WBS)

Planning is where marks are often won or lost. PROJECTMANAGEMENT314 expects you to:

Break down deliverables into manageable work packages
Assign responsibility
Define sequences
Estimate durations and costs
Establish a baseline

A Work Breakdown Structure (WBS) is hierarchical. A common format is deliverable → components → work packages.

Example: Construction of a small community clinic (project scope simplification):

1.0 Site preparation
- 1.1 Surveying
- 1.2 Earthworks
- 1.3 Temporary facilities
2.0 Building works
- 2.1 Foundations
- 2.2 Structural walls
- 2.3 Roofing
3.0 Electrical and plumbing
4.0 Finishes and equipment
5.0 Commissioning and handover

Why this matters in exams:

A WBS provides the structure for schedule development, cost estimating, and scope control.
If the WBS is missing or too vague, later answers like “how do you control scope?” become weak.

Work Packages, Deliverables, and “Control Points”

In exam scenarios, you may be asked to propose:

milestones
acceptance criteria
control points

A high-scoring approach:

Identify deliverables that represent meaningful completion states
Define acceptance (who signs off, what evidence proves completion)

Example:
Deliverable: “Roof installed and watertight.”
Acceptance evidence:

inspection certificate
visual checklist completed
leak test (if specified)

This supports quality control and reduces disputes during closing.

Activity Sequencing: Dependencies and Logic Links

Once the WBS is created, you develop activities and define dependencies:

Finish-to-Start (FS): predecessor must finish before successor starts (most common)
Start-to-Start (SS): successor can start when predecessor starts
Finish-to-Finish (FF): successor finishes when predecessor finishes
Start-to-Finish (SF): rare in practice, but taught as a concept

Exam-ready dependency explanation:
If “electrical wiring inspection” requires completed wiring, that is FS:

Wiring completion (finish) → inspection scheduling (start)

Estimating Durations: Deterministic vs Probabilistic Thinking

Many exams include time estimation and variance logic.

Deterministic estimate: single duration (e.g., 5 days).
Probabilistic estimate: includes uncertainty (used in PERT/three-point estimates):

Optimistic (O)
Most likely (M)
Pessimistic (P)

PERT expected duration formula:
[
TE = \frac{O + 4M + P}{6}
]

Standard deviation approximation (for exam knowledge):
[
\sigma = \frac{P – O}{6}
]

Even if your course emphasizes standard scheduling, probabilistic thinking strengthens risk-based answers.

Network Diagrams: A & B Nodes and Exam Logic

Network planning questions may use:

Activity-on-Node (AON)
Activity-on-Arrow (AOA)

If you can’t rely on a specific diagram type, focus on the principle:

Draw logic
Ensure correct dependency ordering
Identify forward pass (earliest times)
Identify backward pass (latest times)
Determine critical path and total float

Critical Path Method (CPM): How to Score When Calculations Appear

Critical path: the sequence of activities that determines project duration (zero or minimal float). If any activity on the critical path slips, the overall completion date usually slips (unless recovery actions are applied).

Forward pass:

earliest start (ES) and earliest finish (EF)
EF = ES + duration

Backward pass:

latest finish (LF) and latest start (LS)
LS = LF − duration

Total float:
[
TF = LS – ES = LF – EF
]

Exam strategy:
Write a clean table with columns like:

Activity
Duration
ES/EF
LS/LF
TF

Even if the numeric values are complex, your method earns partial credit.

Example Scheduling Mini-Case (Integrated Logic)

Consider a simplified project: “Install and commission a solar PV system” with activities:

A: Site survey — duration 3 days
B: Procure panels — duration 6 days
C: Prepare mounting structure — duration 4 days
D: Install panels — duration 5 days (depends on A and C)
E: Electrical connection — duration 3 days (depends on D)
F: Commissioning and testing — duration 2 days (depends on E)

Logic:

A has no predecessors
B has no predecessors
C depends on A (assume mounting needs survey results)
D depends on both B? (optional) and C and A
Let’s keep it realistic but consistent:
D depends on B and C (so procurement and structure are ready)
E depends on D
F depends on E

Critical path concept (qualitative):

If B (6 days) and C (A+C sequencing) determine D’s start, then delays in procurement can dominate.

To compute precisely:

ES(A)=0, EF(A)=3
ES(B)=0, EF(B)=6
C depends on A: ES(C)=3, EF(C)=7
D depends on B and C: ES(D)=max(EF(B), EF(C)) = max(6,7)=7, EF(D)=12
E depends on D: ES(E)=12, EF(E)=15
F depends on E: ES(F)=15, EF(F)=17

So project duration = 17 days, and the critical activities are those with zero float (A→C→D→E→F; B might not be critical if it finishes earlier than C, depending on the exact network constraints).

Why this matters:

In exam scenarios, the question might ask which activity to crash to meet an earlier deadline. If you crash a non-critical activity, you may not reduce project duration.

Baselines: Schedule Baseline and Cost Baseline

A baseline is the approved plan used for measuring performance. In PROJECTMANAGEMENT314, you must connect the baseline to controlling:

Schedule baseline: planned start/finish dates, durations by activity
Cost baseline: planned budget over time

Common exam question types:

“Define baseline”
“Why baseline is necessary”
“What happens when changes occur”

Your answer should mention:

baseline is the reference
deviations are measured
changes require change control
approved changes update the baseline (version control)

Resource Planning and Procurement Alignment

Resource planning links human/equipment availability to the schedule. Procurement planning links vendor lead times to activity dependencies.

Mini-example:

If procurement lead time is 4 weeks but schedule assumes 2 weeks, the baseline is invalid or unrealistic. Your project plan should include:
- procurement lead time as a dependency input
- buffer/risk response for supplier delay

3) Risk, Cost Management, and Earned Value (The Core Calculation Territory)

Risk Management: From Identification to Response

A risk is an uncertain event or condition that, if it occurs, affects objectives (time, cost, quality, scope, safety, etc.). A structured risk process typically includes:

Plan risk management (how you will manage risk)
Identify risks (brainstorming, interviews, checklists, historical data)
Perform qualitative analysis (severity/likelihood rating)
Perform quantitative analysis (expected monetary value, simulation, PERT)
Plan risk responses (avoid, mitigate, transfer, accept, exploit)
Implement responses (assign owners, due dates)
Monitor and control risks (track triggers and emerging risks)

Exam expectation:

Identify risks that are relevant to the scenario
Provide responses using risk strategies
Assign an owner and indicate a trigger or sign that the risk is materializing

Qualitative Risk Matrix: Likelihood vs Impact

A typical matrix could rate:

Likelihood (Low/Medium/High)
Impact (Low/Medium/High)
Then derive risk level (e.g., Medium/High).

Example risk: “Supplier delay for HVAC units.”

Likelihood: High (based on vendor history)
Impact: High (affects commissioning)

Response options:

Mitigate: dual sourcing, buffer inventory, alternative vendor qualification
Transfer: contractual penalties or advance payment terms requiring delivery dates
Avoid: change design to standard units with faster availability
Accept: only if alternatives are too costly, with contingency

Quantitative Risk: Expected Monetary Value (EMV)

EMV is a simple but exam-friendly technique:
[
EMV = \sum (Probability \times Impact)
]

Example:

Risk: equipment arrives late causing cost of $12,000 additional labour and disruption
Probability: 25%
EMV = 0.25 × 12,000 = $3,000

If you propose mitigation costing $2,200 to reduce probability to 10%, then:

EMV after mitigation = 0.10 × 12,000 = $1,200
Net expected savings = 3,000 − (2,200 + 1,200?)
Be careful: subtract mitigation cost from savings.

Let’s compute properly:

Expected cost without mitigation = $3,000
Expected cost with mitigation = mitigation cost ($2,200) + EMV residual ($1,200) = $3,400
In this case mitigation is not cost-effective.

This kind of “decision under uncertainty” appears frequently in exams.

Cost Management: Estimates, Budgeting, and Control

Cost management aims to ensure the project is completed within the approved budget.

Main components:

Cost estimating: how much will activities cost?
Cost budgeting: allocate estimate to work packages/time periods
Cost control: monitor variances, adjust plans, implement changes

Costs can be categorized:

direct costs (labour, materials)
indirect costs (project overhead)
contingency (for known unknowns)
management reserve (for unknown unknowns)

Exam trap:
Confusing contingency with management reserve—contingency is usually reserved for identified risks; management reserve for broader unknowns.

Earned Value Management (EVM): BAC, BCWP, BCWS, ACWP

EVM integrates scope, schedule, and cost. You’ll see terms such as:

BAC: Budget at Completion (total budget)
PV (planned value / BCWS): planned cost for work scheduled
EV (earned value / BCWP): budgeted cost for work actually performed
AC (actual cost / ACWP): actual costs incurred

Core metrics:

Schedule Variance (SV) = EV − PV
Cost Variance (CV) = EV − AC
Schedule Performance Index (SPI) = EV / PV
Cost Performance Index (CPI) = EV / AC

Forecasting:

Estimate at Completion (EAC): varies by assumptions
Estimate to Complete (ETC): EAC − AC
Variance at Completion (VAC) = BAC − EAC

A common exam assumption:

If performance continues as in the past:
[
EAC = \frac{BAC}{CPI}
]

Worked Example: EVM Calculation for a USB-Style Scenario

Assume a project with:

BAC = R 2,400,000 (total budget)
At a reporting date:
PV (planned value) = R 1,200,000
EV (earned value) = R 900,000
AC (actual cost) = R 1,000,000

Compute:

SV = EV − PV = 900,000 − 1,200,000 = −R 300,000
- Negative SV indicates behind schedule.
CV = EV − AC = 900,000 − 1,000,000 = −R 100,000
- Negative CV indicates over budget.
SPI = EV / PV = 900,000 / 1,200,000 = 0.75
- Works only 75% as fast as planned.
CPI = EV / AC = 900,000 / 1,000,000 = 0.90
- Spending efficiency is poor (cost higher than budgeted for the work done).

Forecast (basic assumption: future performance continues with same CPI):
[
EAC = \frac{BAC}{CPI} = \frac{2,400,000}{0.90} = 2,666,666.67
]

So:

EAC ≈ R 2,666,667
VAC = BAC − EAC = 2,400,000 − 2,666,666.67 = −R 266,666.67
Meaning an overrun is expected.

Exam-marking tip:
Always interpret results in plain language:

“Behind schedule because SV is negative.”
“Over budget because CV is negative.”
“Forecast implies likely overrun.”

EVM Interpretation: Common Mistakes

Students lose marks when they:

Swap PV and EV
Interpret negative SV/CV backwards
Use EAC formulas incorrectly without stating assumption

Correct logic:

EV (earned) tells you “how much value you earned” in budget terms.
PV (planned) tells you “what you should have earned by now.”
AC (actual) tells you “what you actually spent.”

If EV < PV, you’re behind schedule.
If EV < AC, you’re over budget.

Risk Response Planning in Cost Terms

A well-scored answer connects cost management and risk:

For a risk with cost impact, add contingency or schedule buffer.
For a risk response, state cost of the response and the change in likelihood/impact.

A good approach in exam writing:

Identify risk
Quantify expected impact (even approximate)
Propose response
Show how it reduces EMV or improves schedule reliability
Conclude which risks get contingency funding

4) Quality Management, Change Control, and Project Execution Controls

Quality Management vs Gold-Plating: The Core Distinction

Quality management ensures the project output meets requirements and is fit for purpose. Quality is not “highest possible”; it is “right requirements.”

Key exam terms:

Quality planning: define standards and how you will measure quality
Quality assurance: systematic activities to ensure processes meet standards
Quality control: operational techniques to verify deliverables meet acceptance criteria

A common exam phrasing:

Quality planning answers: “What quality standards do we need and how will we satisfy them?”
Quality assurance answers: “How will we ensure the process is capable?”
Quality control answers: “How do we verify the deliverables are correct?”

Quality Tools You Can Use in Scenario Answers

Depending on how your assessment is designed, you may be expected to mention or apply some quality tools.

Common tools:

Checklists: ensure steps and acceptance criteria are not missed
Control charts: track process stability over time
Pareto analysis: identify “vital few” defects that cause most problems
Cause-and-effect (Ishikawa/Fishbone): structure root causes by categories (methods, materials, people, machine, measurement, environment)

Example:
A software project experiences recurring defects in user authentication.

Pareto may show a small defect type accounts for 60–80% of failures.
Fishbone categories might include requirements ambiguity, code review gaps, inadequate test coverage, etc.

Quality Acceptance Criteria and Evidence

A strong exam answer specifies acceptance in measurable terms:

performance thresholds
inspection results
test pass/fail criteria
sign-off requirements (client representative, regulator, internal audit)

Avoid vague statements like “it should be good quality.”
Instead write: “Deliverable will be accepted if inspection checklist items are complete and test results meet specified standards.”

Change Control: Managing Scope, Cost, and Schedule Impacts

Change control ensures that changes to the project baseline are:

identified
evaluated
approved/rejected
implemented properly
documented

Typical change control flow:

Change request submitted (what/why)
Impact analysis (scope, schedule, cost, quality, risk)
Decision by approval authority
Implementation plan if approved
Update baselines and project documents
Communicate change to stakeholders

Exam question style:
“During construction, the client requests additional features. What steps do you take?”
Your answer should include:

evaluate impact and justify decision
use correct governance
update baseline if approved

Delegation of Authority: Avoid “Approve Everything” Errors

Not all changes require board-level approval. Delegation defines thresholds. Even if your course doesn’t require specific dollar thresholds, you should demonstrate awareness of authority levels.

A strong response:

Project manager approves minor changes within authority and documented procedure.
Major changes affecting scope/time/cost/quality require steering committee/sponsor approval.

Execution Controls: Monitoring Work, Managing Variance

Execution is where the plan becomes reality. Monitoring & controlling ensure performance matches the plan or corrective actions are taken.

Typical performance dimensions:

schedule performance (progress vs baseline)
cost performance (budget vs actual, EVM)
quality performance (defects, inspection results)
risk status (emerging threats)
stakeholder satisfaction (acceptance, issues)

Corrective actions:

fast tracking (where appropriate)
crashing (add resources to critical path)
re-planning (resequence tasks)
adjusting scope (trade-offs)
revising schedule assumptions

Exam trap:
Fast tracking without assessing risk can increase defects or cost. Mention risk considerations when recommending aggressive schedule compression.

Communication Management: Content, Frequency, Channels

A project communication plan should specify:

information needs by stakeholder
communication formats
frequency
owner and approval
escalation path for issues

Common deliverables:

status reports (weekly/biweekly)
meeting minutes
dashboard metrics (schedule, cost, risk)
risk alerts and change notices

A strong stakeholder communication response includes:

“what they care about”
“how often”
“how it will be delivered”

Lessons Learned and Closing: Finalizing What “Done” Means

Closing is not only administrative. It includes:

acceptance/handover of deliverables
contract close-out
documentation and archives
lessons learned and recommendations

In exam scenarios, closing can affect marks when asked:

“What should happen at closure?”
“What document must be updated?”

Your answer:

lessons learned captured
project documents archived
final reporting completed
resources demobilized appropriately

5) Integrated Scenario Skills: Exam Problem Solving, Common Patterns, and Revision Checklists (USB-Style)

How PROJECTMANAGEMENT314 Exam Questions Usually Work

Most problem-based questions follow patterns:

Provide a scenario (project description, constraints, timeline, budget, risks, stakeholders)
Ask you to apply a concept (e.g., WBS creation, critical path, EVM calculation, risk response, change control step)
Sometimes include a data table or partial calculations

Your goal is to answer in the correct “exam language”:

define key term in one line
apply framework to scenario
show steps for calculations
interpret results in plain meaning
propose actions linked to governance and controls

Building a High-Scoring Answer Structure (Reusable Template)

For any calculation question (especially EVM/CPM), use:

Extract given data
- PV/EV/AC, or durations and dependencies
Compute metrics
- show formula and substitution
State result
- SV/CV, SPI/CPI, EAC; or ES/EF etc.
Interpret
- behind schedule? over budget? critical path? float?
Recommend
- corrective action tied to interpretation

For any process/concept question (change control, quality planning, stakeholder engagement), use:

Define the process (1–2 sentences)
List step sequence (numbered steps)
Assign roles (who owns which step)
Tie to scenario (use the scenario details)
Mention outputs/documents (what artefacts are produced)

Detailed Integrated Mini-Case (One Scenario Across Multiple Topics)

Consider this integrated scenario for practice:

A project sponsored by a municipal authority is building a small solar-powered street lighting system for a township road upgrade. The project objectives:

deliver lighting in time for the festive season
keep within budget
ensure safety and compliance inspections pass

Project summary assumptions:

Approved budget (BAC) = R 2,400,000
Reporting occurs at the end of a month (Day 30)
Planned performance expects certain activities completed by now
A risk is flagged: delay in electrical components due to supplier backlog

You are asked three parts:

identify key project governance and stakeholders
compute EVM at month-end and interpret performance
propose a risk response and change control steps if schedule slips due to procurement

Part 1: Governance and Stakeholders (How to Write It)

Include:

Sponsor: municipal authority (funding and strategic alignment)
Steering committee/board: approves changes above delegated authority
Project manager: controls daily integration and reporting
Regulatory inspector: compliance acceptance (quality gate)
Community representative: stakeholder interest in safety and disruption
Supplier: procurement deliverables and delivery timelines

Then link:

“Minor changes managed by PM within authority; major schedule/cost changes escalated to steering committee.”

Part 2: EVM Computation (Fully Worked)

At month-end:

PV (planned value) = R 1,200,000
EV (earned value) = R 900,000
AC (actual cost) = R 1,000,000

Compute:

SV = EV − PV = 900,000 − 1,200,000 = −R 300,000
CV = EV − AC = 900,000 − 1,000,000 = −R 100,000
SPI = EV / PV = 0.75
CPI = EV / AC = 0.90

Forecast:

EAC = BAC / CPI = 2,400,000 / 0.90 = R 2,666,667
VAC = BAC − EAC = −R 266,667

Interpretation:

Negative SV: behind schedule
Negative CV: over budget
CPI < 1: costs higher than planned for work achieved
EAC indicates expected overrun if performance continues

Part 3: Risk Response + Change Control Steps (Governance-linked Answer)

Risk: supplier delay of electrical components.

Risk response strategy:

Mitigate: identify alternative supplier or expedite shipping where contract allows
Transfer: include penalties/SLAs if not already in place (contractual transfer)
Accept with contingency if no alternatives exist and cost is too high to mitigate

Now tie to change control:

Submit change request: “Reschedule installation sequence due to late components”
Impact analysis:
- schedule impact (new dates)
- cost impact (expedite cost or idle labour)
- quality impact (inspection windows)
Approval decision:
- if within delegated authority, PM updates schedule
- if it changes baseline beyond thresholds, steering committee approves
Update baseline and communicate stakeholders

A top-score addition:

mention that corrective actions must consider critical path. If procurement is non-critical now, crashing might not reduce total duration. If it is critical, crashing/expediting may help.

CPM Practice: Quick Critical Path Logic for Short Exam Scenarios

When you see a diagram or activity list:

find dependencies
compute earliest start/finish sequentially
identify the longest-duration chain

Then answer:

“Critical activities have zero total float.”
“To reduce duration, prioritize actions on critical path activities.”

Common mistake:
Students treat “latest finish” as “best” rather than “latest allowed without affecting completion.”

Quality and Acceptance: What to Mention in Integrated Scenarios

In integrated cases involving physical or regulated work (like solar systems or construction), quality must show up. Your answer should include:

inspection scheduling (regulatory gates)
test evidence and acceptance criteria
nonconformance handling: corrective and preventive action (CAPA)

Nonconformance scenario:

If a lighting unit fails compliance testing, you need:
- record defect
- root cause analysis (fishbone)
- corrective action (replace/repair)
- preventive action (supplier change controls)

This supports both quality management and stakeholder confidence.

Revision Checklist: “Last 30 Minutes” Smart Review

Use this checklist to quickly verify you can answer typical exam prompts:

Definitions that must be crisp

project vs operations
governance vs management
WBS purpose
baseline meaning
risk categories and response types
quality planning/assurance/control
change control workflow
EVM: PV/EV/AC, SV/CV, SPI/CPI, EAC

Processes you must be able to sequence

risk management steps (identify → analyze → respond → monitor)
change control steps (request → impact → approve → implement → update baseline)
quality process (plan → assure → control)

Calculations you must be able to do quickly

EVM formulas and interpretation
PERT expected duration (if included in your paper style)
CPM critical path with ES/EF/LS/LF/float

Communication you must demonstrate in answers

stakeholder mapping (power/interest)
communication plan elements: frequency/channel/owner/content
escalation path for major issues and changes

Section-Specific Study Links (USB Project Management Programme Guides Mindset)

Because this guide is part of a Stellenbosch Business School (USB) Project Management Programme Guides collection, the emphasis is on applied exam thinking rather than purely theoretical lists. Many students across South African university systems (including Unisa and CUT course styles) struggle not because they lack knowledge, but because they fail to demonstrate:

structure
methodical steps
clear interpretation
correct governance and change escalation

In PROJECTMANAGEMENT314, examiners frequently look for these markers:

You show your method (especially for EVM/CPM).
You interpret metrics into operational decisions.
You tie recommendations to constraints and approval authority.

Final Consolidation: High-Yield Summary of the “Must Know” Themes for PROJECTMANAGEMENT314

Project governance ensures accountability and correct approvals. Always specify who decides what when interpreting change requests.
WBS → scheduling → baseline is the logic chain. A good WBS supports accurate estimating, scheduling, and scope control.
Scheduling tools (dependencies, critical path, float) determine where delays matter most and where crashing/fast-tracking can reduce duration.
Risk management must include response strategies and, where possible, a quantitative logic (EMV/PERT) or at least clear impact/likelihood reasoning.
EVM is central in many exam papers: PV, EV, AC; compute SV/CV and SPI/CPI; forecast EAC; interpret results in plain language.
Quality management is not “more is better.” It is fitness for requirements with acceptance criteria and evidence.
Change control requires request → impact analysis → approval → implementation → baseline update → communication.
Execution and closing include monitoring, corrective action, stakeholder reporting, and structured lessons learned.

If you can consistently apply these themes to new scenarios—using the correct formulas, correct terminology, and governance-aware reasoning—you are prepared for the majority of question styles in Project Management 314 (PROJECTMANAGEMENT314).