MBAC734 – Project Management (NWU MBA) Core Concepts Summary

MBAC734 (NWU MBA) focuses on the core managerial logic behind how projects are initiated, planned, executed, monitored, and closed—while balancing time, cost, scope, quality, risk, and stakeholder expectations. This study guide consolidates the key concepts typically assessed in the module: project life cycles and governance, scope and scheduling fundamentals, cost estimation and budgeting, quality management, risk and procurement basics, communication and stakeholder management, and project performance metrics. Emphasis is placed on practical decision-making, exam-style reasoning, and how core concepts interlock across the project lifecycle.

1) Project Fundamentals, MBAC734 Vocabulary, and Project Governance (NWU MBA Core Lens)

What is a Project? Why “Project” Is Different from “Operations”

A project is a temporary endeavor undertaken to create a unique product, service, or result. In MBAC734, this “temporary” and “unique” character matters because it drives different management needs than ongoing operations (which are repetitive and run continuously).

Key differences you should be able to articulate in an exam:

Temporary vs. Continuous
- Projects end when objectives are met or when the project is cancelled.
- Operations persist beyond any single goal.
Unique Outputs vs. Routine Outputs
- Projects produce something not previously delivered in exactly the same way (e.g., a new IT system, a new facility, a new product launch).
Uncertainty and Change vs. Predictable Processes
- Projects carry uncertainty requiring assumptions, risk analysis, and adaptive planning.

Exam angle: If a question asks whether a task is a project or an operation, the correct answer is usually based on uniqueness + temporariness. For example, “running monthly payroll” is operations; “implementing a payroll system migration from SAP to an alternative platform within 9 months” is a project.

Project Constraints: The Classic Triple (and the Expanded Quadruple)

The iron triangle (or “triple constraint”) is often tested:

Scope
Time/Schedule
Cost/Budget

But MBA-level project management usually expands the view to include:

Quality/Performance (quality is not always the same as “less defects”; it is the degree to which requirements are met)
Risk and Stakeholder Satisfaction (modern governance expects these to be managed, not ignored)

A practical way to reason in exams:

If the project asks for more scope without changing time/cost, a trade-off is necessary—quality may reduce, schedule may slip, or costs may rise.
If management requests shorter deadlines, either more resources must be added (increasing cost) or scope must be reduced or quality reworked.

Stakeholders and Their Power: Mapping Who Matters

In MBAC734, stakeholder management is not only “communications”; it is power, influence, expectations, and legitimacy. A strong exam answer shows:

Who the stakeholders are (sponsor, project manager, customers/users, functional managers, suppliers, regulators, communities)
What they want (value, compliance, speed, cost control, transparency)
How they influence decisions (formal authority vs. informal influence)

Common stakeholder categories:

Project Sponsor: provides funding and strategic direction; authorises major changes.
Project Manager: accountable for delivery within constraints.
Customers/Users: define requirements and accept deliverables.
Functional Managers: supply people/resources; influence staffing availability.
Suppliers/Vendors: provide components/services; impact procurement schedules.
Regulators/Assurance Bodies: require compliance; affect quality gates.
Community/End-users: impact social license, adoption, and reputational outcomes.

Power-interest matrix logic (conceptually):

High power + high interest: manage closely, co-create decisions.
High power + low interest: keep satisfied; communicate high-level updates.
Low power + high interest: keep informed; ensure engagement.
Low power + low interest: monitor with minimal effort.

Project Governance: From Idea to Authorised Execution

Governance describes the structures, rules, and decision rights that ensure projects deliver value and are controlled. Typical NWU-style governance elements that appear in assessments include:

Steering Committee / Project Board
Stage-gates
Terms of Reference and Business Case
Change control authority

A project governance model often follows a lifecycle with decision points:

Initiation / Concept (business need identified)
Feasibility / Planning (scope, estimates, risks, schedule developed)
Execution (deliverables built/implemented)
Monitoring & Control (continuous oversight during execution)
Closure (handover, benefits review, lessons learned)

Stage-gates are critical in exam answers: projects do not “run forever” without decisions. At each gate, management reviews whether to proceed, revise scope, re-estimate costs, or stop.

Business Case and Strategic Alignment

A business case justifies why the project should exist. It includes:

Problem/Opportunity statement
Options considered (sometimes at least two options)
Costs, benefits, and risks
Strategic alignment (how the project supports organisational goals)
Assumptions and constraints

Exam-quality answers often distinguish:

Business value (why it matters)
Project objectives (what the project will deliver)
Success criteria (how success is measured)

Project Life Cycle Models: Predictive vs. Adaptive

MBAC734 usually expects you to understand predictive and adaptive approaches (and that many real projects blend them).

Predictive (plan-driven):

Emphasises detailed upfront planning
Works best when requirements are stable and variability is low
Common in construction-like environments and regulated settings

Adaptive (change-friendly):

Emphasises iterative development and learning
Works best when uncertainty is high or requirements evolve
Common in software, product development, and innovation environments

Hybrid:

Planning remains essential for governance and budgeting
Execution adapts via iterative cycles or rolling-wave planning

Key exam insight: The life cycle model is not only a “method”; it is a risk response to uncertainty. Unstable requirements require an approach that manages change intentionally.

Project Management Core Processes: The Big Picture

At MBA level, the process set is usually summarised across:

Initiating
Planning
Executing
Monitoring & Controlling
Closing

However, exam questions frequently test that these processes are not linear in practice. Monitoring and controlling occur throughout execution. Change control is ongoing. Closing includes administrative closure and benefits/learning activities.

A strong exam answer will link outputs to process stages, such as:

Business case → project charter
Charter → scope statement and WBS
WBS → schedule and cost baseline
Baseline → performance measurement and variance analysis
Risks → mitigation actions and contingency triggers
Deliverables → acceptance and closure documents

2) Scope, Work Breakdown, Scheduling, and Cost Control (Practical Exam Mechanics for MBAC734)

Scope Management: Defining What “Included” Means

Scope management ensures the project includes all and only the work required to complete the project successfully. Scope problems are among the most frequent reasons for project failure, including:

Unclear requirements
Expanding features without adjusting cost/time
Missing deliverables during acceptance

Core scope documents/concepts:

Project Charter: high-level objectives and authority
Scope Statement: detailed description of deliverables and boundaries
Work Breakdown Structure (WBS): hierarchical decomposition of deliverables into manageable work packages

Exam tip: When asked “what should you do first to manage scope?” the standard reasoning is: clarify objectives, develop scope statement, create WBS, verify and control changes.

Work Breakdown Structure (WBS): The Backbone of Control

A WBS breaks the project into smaller components. The purpose is to:

Clarify deliverables
Enable estimation at a more accurate granularity
Support scheduling and responsibility assignment
Improve control and reporting

A typical WBS structure:

Level 1: Major deliverables (e.g., “System Development”)
Level 2: Sub-deliverables (e.g., “User Interface Module”)
Level 3+: Work packages (e.g., “Design screens,” “Build UI components,” “Test UI flows”)

Work packages are small enough for estimation and monitoring. In exam questions, when you’re given tasks, you may be asked to group them into a WBS and identify which tasks belong together.

WBS Dictionary and Control Accounts (Where Detail Matters)

A WBS dictionary describes each work package:

Deliverable description
Acceptance criteria
Assumptions
Constraints
Responsible team/function

Sometimes MBAC734 exam questions reference:

Control accounts (a cost/schedule measurement concept)
Planning packages (work scheduled for measurement)

Even when the exam is not full Earned Value, WBS granularity supports measurement logic.

Scheduling Fundamentals: Activities, Dependencies, and Critical Thinking

A schedule translates the WBS work into time. The main elements:

Activities: tasks/work packages to be performed
Dependencies: relationships between activities (finish-to-start is most common)
Resources: people/equipment
Durations: time needed per activity
Milestones: points in time representing achievements

Exam-quality answers should include dependency logic, for example:

If Activity B depends on Activity A, B cannot start until A finishes (finish-to-start).
If Activity C must wait for two activities to complete, you treat it as having multiple predecessors.

Network Diagrams and the Critical Path Concept

The critical path is the longest sequence of dependent activities that determines project duration. Activities on the critical path typically have:

Zero or minimal slack
No flexibility without affecting completion date

You may be asked to interpret:

Early start / early finish
Late start / late finish
Total float (slack)

Common exam scenario: Given a small network with durations, compute:

earliest start/finish times
latest start/finish times
slack per activity
identify critical path

Even if MBAC734 focuses on conceptual understanding, exam questions often use arithmetic.

Gantt Charts vs. Network Scheduling

Gantt chart shows planned timeline by activity and is widely used for communication.
Network diagram (and critical path analysis) supports schedule logic and risk identification.

In exam reasoning:

If asked how to ensure the schedule is realistic, you reference dependencies and critical path rather than only visually arranging tasks.

Resource Allocation and Realism: Avoiding the “Optimistic Schedule Trap”

Schedules fail when resources are assumed unlimited. MBAC734 emphasizes:

Staff availability constraints
Skills and roles
Equipment lead times
Parallel work limitations

Common scheduling improvement approaches:

Resource leveling: smooths peaks and avoids over-allocation
Rolling-wave planning: detailed planning for near-term, less detailed for far-term
Buffering: in uncertain work, include contingency for delays

Cost Management: Estimation, Budgeting, and Baselines

Cost management ensures the project is delivered within approved budget.

Key steps:

Cost estimation: predict costs for each work package (labour, materials, equipment, overheads)
Budgeting: allocate estimated costs across time and deliverables to create a cost baseline
Cost control: track actual costs vs. baseline; manage variances

Cost Estimation Techniques: From Analogous to Bottom-Up

Common techniques include:

Analogous estimation: use similar past projects as reference
Parametric estimation: use statistical relationship (e.g., cost per unit)
Bottom-up estimation: estimate each work package then aggregate

Exam-quality choice reasoning:

Use bottom-up when scope is clear and WBS is detailed.
Use analogous when early estimates are needed and only historical data exists.
Use parametric when you can define reliable unit rates and drivers.

Budgeting and Baselines: Why Baselines Matter

A baseline is the reference plan approved by management used for comparison. Without a baseline, “cost control” becomes opinion rather than measurement.

A typical baseline includes:

Total approved project budget
Planned spending over time (time-phased budget)
Resource cost assumptions
Scope boundaries

Cost Control: Variance Thinking

Even without deep Earned Value calculations, you should understand:

Variance = Actual vs. Planned
Positive variance (actual less than planned) might indicate under-spending but could be risky if due to reduced quality or missing scope.
Negative variance indicates overspending and requires corrective action.

Corrective actions may include:

Re-forecast remaining work costs
Re-scope deliverables
Negotiate supplier costs
Adjust schedule to reduce idle time
Change resource mix (e.g., more junior staff, different shift patterns—if quality remains acceptable)

Integrated Change Control: The Scope-Cost-Time Link

Change control is where scope, schedule, and cost collide. A strong MBAC734 exam answer describes:

How change requests are raised
How impacts are assessed (time, cost, risk, quality, stakeholders)
Who approves changes (change control board, sponsor, steering committee)
How approved changes update baselines

Mini Case Example (Exam-Style Reasoning)

Scenario: A project to implement a document management system has a WBS including:

“Requirement gathering”
“System configuration”
“User training”
“Go-live and stabilization”

During execution, stakeholders request additional features (e.g., advanced search and custom reporting). The project manager should:

Log change request
Assess impact on scope (new deliverable)
Assess schedule impact (new configuration and testing activities)
Assess cost impact (developer hours, testing effort, training updates)
Assess risk (complexity increases likelihood of defects)
Recommend options:
- approve with increased budget
- approve with schedule extension
- approve by reducing scope elsewhere
- reject if non-essential

Key exam point: The project manager must prevent unapproved scope creep and tie every change to baseline impact.

3) Quality Management, Risk Management, Procurement & Stakeholder Communications (What Marks High in MBAC734)

Quality Management: From “Inspect” to “Plan”

Quality management ensures deliverables meet requirements and acceptance criteria. At MBA level, quality is proactive, not just inspection at the end.

Core quality concepts:

Quality planning: define standards, acceptance criteria, quality metrics
Quality assurance: ensure processes used will produce compliant outcomes
Quality control: verify the output meets those standards

Quality standards may be:

Regulatory standards (e.g., sector compliance)
Customer requirements (functional performance)
Internal policies
Industry frameworks

Quality Metrics and Acceptance Criteria

In many exam scenarios, you’re asked what “quality” means. A good answer includes:

measurable criteria (e.g., defect rate, performance thresholds, compliance checks)
process controls (review/approval steps)
acceptance procedures (user sign-off, test criteria)

Example: For a website project, quality criteria could be:

Page load time under a specified threshold on agreed devices
Accessibility requirements met (if required)
Security tests passed
UAT sign-off obtained

Lessons from Quality Failures

Quality failures often appear due to:

rushed delivery without adequate testing
unclear acceptance criteria
misalignment between stakeholders on what “done” means
weak change control leading to inconsistent deliverables

A strong MBAC734 exam response links quality to scope definition: if scope requirements are unclear, quality management cannot be effective.

Risk Management: Identifying, Analysing, and Responding

Risk management deals with uncertainty that can affect project objectives.

Key risk steps:

Risk identification
Risk analysis (qualitative and/or quantitative)
Risk response planning
Risk monitoring and control

Risk Register: Structure and Use

A risk register typically contains:

Risk description
Category (technical, schedule, cost, external, etc.)
Probability and impact
Risk owner
Response strategy
Trigger conditions
Contingency actions

Risk categories help you structure brainstorming:

Technical: requirements complexity, integration issues
Schedule: dependencies, resource constraints
Cost: price escalation, labour rate changes
External: regulatory changes, supplier delays
People/stakeholders: resistance, adoption issues

Probability-Impact Matrix: Interpreting Scores

A qualitative approach often uses:

Probability (e.g., low/medium/high)
Impact (e.g., low/medium/high)
Risk rating = combination

Exam logic: You don’t just compute; you justify:

High probability + high impact is prioritized
Low priority risks may be monitored without full response plans

Risk Response Strategies: Avoid, Mitigate, Transfer, Accept

Common strategies:

Avoid: change plan to eliminate risk
Mitigate: reduce probability/impact (e.g., additional testing)
Transfer: shift impact (e.g., insurance, contract terms)
Accept: acknowledge risk and plan contingency if it occurs

Exam answers often fail when they list strategies without linking to plausible actions. Always provide an action example.

Procurement Basics: Contracts and How They Affect Risk

Procurement management covers acquiring goods and services from external parties.

Key procurement concepts:

Make-or-buy decisions
Sourcing strategy (number of bidders, qualification criteria)
Contract types (e.g., fixed price, cost-reimbursable)
Vendor selection and evaluation criteria
Contract management: deliverables, SLAs, change procedures

In exams, procurement links to risk:

Fixed price contracts shift certain cost risks to the supplier.
Cost-reimbursable contracts shift less risk to the supplier but require stronger oversight.

Example: Procurement as a Risk Controller

Scenario: A project requires specialised equipment with a long lead time. The risk is supplier delay. Procurement response may include:

ordering early (mitigate schedule risk)
requiring delivery milestone penalties (transfer risk contractually)
holding a buffer stock or alternative supplier (contingency)
verifying supplier capacity and past performance (preventive action)

Stakeholder Communication: Plan, Execute, and Adjust

Communication management ensures stakeholders receive relevant information at appropriate times.

Communication planning includes:

who needs what information
format and channels (meetings, reports, dashboards)
frequency
escalation paths

Common communication deliverables:

Status reports
Issue logs
Risk reports
Change request updates
Steering committee presentations

Exam answers often use a “communication plan” structure:

stakeholder group
purpose
message content
method
timing
owner

Managing Issues vs Risks

A common exam distinction:

Risk: uncertain event that may happen.
Issue: problem that has happened or is actively happening.

Issue management includes:

documenting the issue
determining impact
deciding resolution approach
tracking until closed

Integrated Monitoring and Control: One System, Many Lenses

Monitoring & control integrates:

schedule progress
cost performance
quality checks
risk status
stakeholder engagement
change control outcomes

The best exam answers show that you cannot treat these as separate silos. For instance:

A schedule slippage may increase costs.
Cutting scope could affect quality.
New risks appear when scope changes.

Micro Case Study: A Rollout with Stakeholder Resistance

Scenario: A municipality introduces an online billing system. Users complain about usability; call centre workload rises; adoption slows.

This is not merely a “communications” problem. It may require:

quality adjustments (user interface changes)
training plan updates
risk re-evaluation (adoption risk)
change control for new features

A high-mark answer addresses:

stakeholders: end-users, call centre supervisors, IT vendor
root cause: usability and training gaps
actions: usability testing, revised training, updated documentation
monitoring: adoption metrics (e.g., percentage using online billing), complaint rates

4) Earned Value, Performance Measurement, and Project Control Logic (Core Quant Skills Often Tested in MBAC734)

Why Performance Measurement Is Necessary

MBAC734 is examined heavily around control logic—how managers determine whether the project is truly on track. Merely comparing planned vs actual dates is insufficient because:

You can spend money without producing deliverables.
You can finish activities on time but with poor quality or missing scope.

Performance measurement creates a common fact base.

The Three Measures: PV, EV, AC (Core Foundation)

The Earned Value Management (EVM) logic often tested uses:

PV (Planned Value): budgeted value of planned work scheduled up to a point in time
EV (Earned Value): budgeted value of completed work up to that point
AC (Actual Cost): actual cost incurred up to that point

From these, you derive:

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

Interpretation:

CV < 0: spending more than earned (cost overrun for the work completed)
SV < 0: behind schedule (less work earned than planned)
CPI < 1: poor cost efficiency
SPI < 1: behind schedule efficiency

Exam-Ready Numeric Example (Use as a Pattern)

Assume at a given reporting date:

PV = R 800 000
EV = R 650 000
AC = R 720 000

Compute:

CV = EV − AC = 650 000 − 720 000 = − R 70 000
SV = EV − PV = 650 000 − 800 000 = − R 150 000
CPI = EV / AC = 650 000 / 720 000 ≈ 0.90
SPI = EV / PV = 650 000 / 800 000 = 0.8125

Meaning:

Project is behind schedule (SV negative, SPI < 1)
Project is over budget for the earned work (CPI < 1)

Forecasting with EAC and ETC (How Exams Go Further)

EVM supports forecasting:

ETC (Estimate to Complete): predicted cost of remaining work
EAC (Estimate at Completion): forecast total project cost

A common exam formula uses CPI:

EAC ≈ BAC / CPI
Where BAC is the Budget at Completion.

If BAC = R 2 000 000 and CPI = 0.90, then:

EAC ≈ 2 000 000 / 0.90 = R 2 222 222.22

This suggests likely cost overrun if performance continues.

TCPI and Management Pressure (Advanced but Sometimes Present)

Some exams include:

TCPI (To-Complete Performance Index): efficiency needed to meet a specific target

You may see:

TCPI = (BAC − EV) / (EAC − AC) or (BAC − EV) / (BAC − AC) depending on whether target is EAC or original BAC.

Even if not explicitly asked, you should understand that TCPI answers: “If performance stays at a new required level, what efficiency must we achieve?”

Baselines for EVM: The Budget Structure Must Be Coherent

EVM depends on a consistent work package budget:

WBS deliverables must map to budgets
planned schedule must map to PV calculations
earned value measurement rules must be defined (e.g., 0/100, percent complete, milestones)

Exam pitfalls:

Using inconsistent cost allocation
Measuring EV incorrectly (e.g., claiming partial completion without acceptance criteria)

Earned Value Measurement Rules

Common rules:

0/100: no EV until completion (used when objective completion is clear)
50/50: EV at halfway and completion (used for tasks with known milestones)
Percent complete: EV proportional to completion (requires robust measurement and credible verification)
Milestone method: EV earned at pre-defined milestones

Exam advice: If the question indicates ambiguous completion criteria, the best answer is to avoid naive percent complete and use milestone-based measurement or objective verification.

Integrating EVM with Change Control and Risk

EVM results should trigger managerial actions:

CV negative → reduce cost overruns (resource efficiency, scope re-evaluation, vendor renegotiation)
SV negative → adjust schedule (look for parallelization, remove bottlenecks, refine dependencies)

Risks influence EAC and EVM assumptions. If risks materialise, the remaining work cost and time estimates change:

update risk register
revise forecast
adjust plans and baselines if changes are approved

Performance Reporting: What to Show in a Steering Committee

Typical steering committee style:

Key variances: CV and SV
Indices: CPI and SPI
Forecast: EAC (and maybe ETC)
Root causes: why variances occurred
Actions: what is being done next reporting period
Decisions needed: re-baseline approval or scope adjustments

A high-mark answer is one that moves from numbers to decisions.

5) Project Closure, Benefits Realisation, Learning, and Exam-Style Scenario Mastery (NWU MBA Capstone Skills)

Closing the Project: More Than Administrative Wrap-Up

Project closure includes:

completion of deliverables
formal acceptance by customer/users
documentation and handover
releasing resources
final financial reconciliation
closure of contracts with suppliers

MBAC734 assessments may ask what closure activities to perform and what documents are needed.

Handover and Acceptance: Ensuring “Done” Means Accepted

Acceptance ensures deliverables meet agreed criteria. Handover typically requires:

operational documentation (user manuals, SOPs)
training completion
technical support transition
warranty/maintenance terms where applicable

Exam-quality answer:

define acceptance criteria earlier in the project
verify acceptance at closure using those criteria

Benefits Realisation: Linking Project Output to Organisational Outcomes

A common weakness in student answers is confusing deliverables with outcomes. MBAC734 emphasises:

Outputs: what the project delivers (e.g., system built)
Outcomes: value achieved (e.g., reduced processing time, increased compliance, improved customer satisfaction)

Benefits realisation may occur after closure. Therefore:

track benefit indicators
assign owners for ongoing benefits
plan follow-up review periods

Post-Implementation Review (PIR) and Lessons Learned

A strong closure process includes:

lessons learned workshop
documentation of what worked and what did not
capturing improvement recommendations
updating organisational process assets

Lessons learned should be actionable:

include root cause analysis
identify process changes for future projects
specify who will implement improvements and by when

Termination vs Normal Closure

Sometimes projects end early. Exam questions may test:

termination reasons (business strategy change, funding cut, unacceptable risk, failure to meet minimum conditions)
termination processes (contract handling, asset disposal, stakeholder communication)
benefits impact analysis (what can be salvaged)

A high-mark answer does not treat termination as “failure only”; it treats termination as a risk and resource protection decision.

Documenting and Completing Administrative Processes

Closure typically includes:

final project report
project archive and records
audit evidence (especially in regulated environments)
contract closure documentation

Exam concept: if auditors ask for evidence, closure documents matter. Weak documentation can create compliance and reputational risk.

Scenario Mastery: Exam-Style Integrated Answers

MBAC734 tends to reward candidates who can answer a scenario question by connecting concepts across areas rather than listing definitions. The following integrated patterns show how to approach typical exam tasks.

Scenario Pattern 1: “Project is behind schedule and costs are rising—what do you do?”

A top answer should include:

Establish status using measurement: PV/EV/AC if provided or justify how to measure progress.
Identify whether the issue is schedule, cost, or scope.
Diagnose causes:
- scope creep?
- resource constraints?
- quality rework?
- supplier delays?
Decide actions:
- reschedule critical path activities
- compress schedule selectively (if appropriate)
- increase resources (if cost justification exists)
- adjust scope via change control
Update forecasts (EAC/ETC if using EVM)
Communicate to stakeholders with clarity and escalation.

This shows integrated performance control: numbers + diagnosis + decisions + communication.

Scenario Pattern 2: “Stakeholders demand new features mid-project—how handle change?”

A top answer should include:

Log change request formally.
Assess impact:
- scope: new deliverables
- schedule: additional activities and revised dependencies
- cost: estimation impact
- risk: increased complexity, new testing requirements
- quality: updated acceptance criteria
Evaluate options (approve with change, defer, reject, or trade off scope/time/cost).
Obtain approval from the right authority.
Update baselines and communicate.

This ensures you demonstrate governance and integrated change control.

Scenario Pattern 3: “Risk materialised—what is the response and how do you update the plan?”

A top answer should include:

confirm whether it was a risk or has become an issue
execute contingency response
assess new impact on time/cost/quality
update risk register (new risks may be triggered)
update schedule/cost forecasts and communicate decisions

This demonstrates maturity: project management is responsive and iterative.

Practical Templates and Structures Commonly Asked in Exams

Even when not explicitly requested, you may score well by presenting structured responses.

Template: Risk Register Entry (Example Structure)

Risk: “Supplier may deliver equipment 4 weeks late due to production backlog.”
Category: Schedule / External
Probability: Medium
Impact: High
Risk Rating: High (justify based on matrix)
Owner: Procurement Manager
Response:
- Mitigate: order early, require delivery plan from supplier, add milestone checks
- Transfer: contract penalty for late delivery
- Contingency: identify secondary supplier; adjust installation sequence
Trigger:
- supplier confirms production delay or misses milestone dates
Status: Active / Monitoring / Closed

Template: Change Request Impact Assessment

Requested change description
Reason (business need)
Affected WBS components
Schedule impact (activities affected, critical path check)
Cost impact (estimate for labour/material/testing)
Quality impact (updated acceptance criteria)
Risk impact (new/updated risks)
Stakeholder impact
Recommendation and approval required

NWU MBA Context: Applied Management Rather Than Theory Alone

MBAC734 is typically assessed by testing your ability to apply concepts to realistic project constraints. That means:

you must justify decisions logically
you must use consistent reasoning and show process (not just definitions)
you must link governance, planning, monitoring, and closure

A strong exam response often reads like:

What to do
Why it matters
How it connects to cost/schedule/scope/quality/risk
What decisions are required from sponsors or boards

Final Exam “Control Mindset” Summary

If you want a compact but high-performing mental model, remember this:

Define success (scope, quality, acceptance)
Plan control (WBS, schedule logic, budgets, baselines)
Measure reality (progress, cost performance, quality checks)
Respond deliberately (change control, risk response, corrective actions)
Close properly (acceptance, handover, benefits and lessons)

Cross-Section Consistency Checklist (For Exam Reliability)

To maintain internal consistency across common exam computations and scenario answers, always ensure:

Scope boundaries are clear before estimating schedule and cost.
Cost baseline and time-phased budgets align with WBS deliverables.
Earned value measurement rules match how progress is verified.
Any change request updates baselines and forecasts via approved governance.
Quality acceptance criteria are defined before closure.
Risk registers distinguish between risks and issues.
Closure includes acceptance and benefits realisation planning, not only paperwork.

Quick Revision: High-Yield Concepts MBAC734 Frequently Tests

Project vs operations: uniqueness + temporariness
Governance: steering, stage-gates, decision rights
Business case alignment: value justification and assumptions
WBS: decomposition to work packages for estimation/control
Scheduling: dependencies, network logic, critical path, slack
Cost management: estimates → budgets → baseline → control
Quality: planning, assurance, control; measurable acceptance criteria
Risk: register, probability/impact, response strategies, triggers
Procurement: contract type impacts risk allocation and schedule
EVM: PV, EV, AC; CV, SV, CPI, SPI; forecasts like EAC
Change control: impacts assessed across scope-time-cost-quality-risk
Closure: acceptance, handover, contract closure, lessons learned, benefits realisation

If you want, I can also generate MBAC734 exam question bank practice (with full worked solutions) covering the exact computation patterns (network/critical path and EVM PV/EV/AC) and scenario responses (change control, risk response, stakeholder communication).