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c722 - WGU Terms in this set (160)What is the term for tasks when they overlap despite their dependencies? ... Critical Path Method is the longest sequence of activities in a project plan which must be completed on time for the project to complete on due date. Integration Management Includes processes and activities needed to identify, define, and coordinate various processes and project management activities SMEs (subject matter experts) An individual who exhibits the highest level of expertise in performing a specialized job, task, or skill within the organization. EX: SME might be a software engineer, a helpdesk support operative, an accounts manager A project is successful if it meets the triple constraints of scope, schedule, and budget. Portfolio Management *Led by the business Program Management *Sponsored by the business Project Management *Delivery of product/service project A _________ is an activity or group of activities that generate a new, unique product, service, or result to support a program. portfolio A ________ is a group of related programs that support a long-term company goal or objective. triple constraint Refers to the fact that all projects are constrained by cost (budget), schedule (time), and scope (deliverables). A change in any one of these three will impact the other two Key Motivators to Adopt Project Management Controlling costs One purpose of a project is create new, unique products or services, but a project can also be initiated to improve existing products or services. Projects selected must what? The commitment of resources to a project can be substantial, and the results of the project must support the organization's goals to ensure the organization's survival. Characteristic of a Project are ongoing activities with a specified start & end date. Projects and programs must support business strategy - why? A project commits the company resources. It must be directly related to a company strategy. Because a program is a group of related projects, by default, it must support a strategy. triple constraints defines the three elements of a project (time, cost, and scope). Project plans should include: approved requirements, schedule resource plans, and budgeting requirements. stakeholder analysis typically refers to the range of techniques or tools to identify and understand the needs and expectations of major interests inside and outside the project environment. At the beginning of the project, the project manager conducts the analysis to define the relevant stakeholders, their interests, and their communication needs. "Red Light" issues: Things that will immediately impact the success of the project and what decisions or resources are required. These often are potential change requests or emphasis on items planned for but not received. "Yellow Light" issues: Things that may be impending issues arising for the future of the project, plus recommendations for how to avoid these issues from becoming problems. Change requests (CR) A formally submitted artifact that is used to track all stakeholder requests(including new features, enhancement requests, defects, changed requirements, etc.) along with related status information throughout the project Change Control Board (CCB) refers to any group of individuals within a project team or project group who are responsible for making the ultimate decision as to when and if any particular changes are to be made in regards to work products or schedule events. Work Breakdown Structures (WBS) is developed to establish a common understanding of project scope. It is a hierarchical description of the work that must be done to complete the deliverables of a project. Each descending level in the WBS represents an increasingly detailed description of the project deliverables. The first two levels of the WBS (the root node and Level 2) define a set of planned outcomes that collectively and exclusively represent 100% of the project scope. 8/80 Rule a project manager should avoid controlling tasks of less than eight hours or team members will feel micromanaged. The project manager should not let more than 80 hours (or two weeks) go by without checking in. Which communication type is the best option when working in a widely dispersed virtual team? Shared threaded discussions allow the contents to be available for all the team members to access and contribute to, regardless of time zone.
A Gantt chart is an example of a _________tool. scheduling Which organization is the world's leading authority in competent project, program, and portfolio management (PPPM)? The International Project Management Association is the world's leading authority on PPPM. Which organization includes standards for Organizational Project Management Maturity (OPM3)? The Project Management Institute (PMBOK Guide) publishes both foundational and practice standards, including standards and frameworks for OPM3. Which organization is a joint venture between the government of the United Kingdom and Capita PLC? Formed to manage standards and certification for the Cabinet Office, AXELOS Ltd. (PRINCE2) is a joint venture between the UK and Capita PLC. Which organization issues competency-based certifications but does not have a standard such as the PMBOK? IPMA issues competency-based certifications but does not have a standard such as the PMBOK. Which certification has the largest number of practitioners registered globally? Project Management Professional PMP is the certification with the largest number of practitioners registered globally. project management office (PMO). is usually an internal department that oversees all project management activities, with the goal of standardizing processes and improving efficiency across the organization. But this work can be outsourced to an external group as well.
What are the five levels of project management maturity ? Initial process What is the overall organizational maturity level determined by? Overall maturity level is determined by the lowest maturity level of any of the processes. What is the basis for determining the maturity level of an organization's project management processes? The comprehensiveness of written procedures to accomplish tasks According to OPM3, what takes place during the fifth and final level of project management maturity? Lessons and best practices are applied. True or false. A projectized organization has less clearly defined lines of reporting than the other types of organizations. False: In a projectized organization, lines of authority are clear. In addition, the project manager has full authority. True or false. Having a skilled project team that can support several successive projects of the same type is a real advantage within the projectized organization. True: In the projectized organization, SMEs are assigned to directly report to the project manager for a specific project. Project Selection is the process of evaluating and choosing projects that both align with an organization's objectives and maximize its performance. program a group of related projects is a program. portfolio A group of projects, or programs, undertaken by a company in order to achieve strategic business goals is called a portfolio. Models are used to provide a representation of __________??? a future reality. What is a possible shortcoming of using a project selection model? Because of their singularity of vision, models can ignore other aspects of a future project. Why is having an appropriate project selection method important? To budget limited resources Non-numeric project selection models Include techniques that are not based on quantitative techniques. Examples: The Sacred Cow, operating necessity, competitive necessity competitive necessity model projects are introduced and offered a lot of backing, so they can help a business uphold a competitive advantage over other companies. The product line extension model is applied when a project is projected to improve and dispense a new product or service. Operating Necessity Model is used when projects are started because they are required to maintain the system in operation. Usually, such a situation is life-threatening such as floods, droughts and landslides. Sacred Cow The project is suggested by a senior member of the organization, the boss...where a project is identified and proposed by an influential person in a particular organization What is an example of a type of non-numeric model for selection criteria? The most common examples for non-numeric selection criteria models are competitive necessity, operating necessity, and sacred cow payback period model refers to the number of time periods that a project requires to recover your investment. When you have recovered the project investment, it is known as the break even point. At this point, the project is neither at profit nor at loss. weighted factor scoring model. In the traditional scoring model approach, each criterion is treated equally. weighted factor scoring models require that senior management assigns a weight to each criterion, which places some emphasis on selected criteria when calculating the total project score. When adding the consideration of the time value of money to a payback period model, cash flows are ________ to reflect a more accurate estimate for the payback period. discounted Net present value (NPV) is a financial measure of the total future benefits of a project minus the costs of the project. Project Charter also known as project definition, or project statement ... it is a statement of the scope, objectives, and participants in a project. It provides a preliminary portrayal of roles and responsibilities, outlines the project's key goals, identifies the main stakeholders, and defines the authority of the project manager. What is an example of information that might be found in a project proposal? A complete project proposal includes any risks that might derail the project. Major project outcomes and deliverables, how the project will be completed, and a high-level estimate of the cost and completion time are included in the project proposal. deliverables The intermediate outcomes from work activities. EX: If your project is to create a restaurant, one of the important activities would be to select the location. An intermediate outcome that will move you toward opening the restaurant would be the deliverable of obtaining the location for the restaurant. Even more specifically, the deliverable may be identified as the signed contract for use of the facility What is an example of project scope creep? Adding functionality without considering impacts to the project's budget, schedule, and resources is an example of scope creep. The boss has asked you to research project management tools that will help with building and planning tasks on a timeline. Which type of tool would you most likely consider? a scheduling program A project that you manage is behind schedule. You have identified an approach that would get the project back on track, but it would require you to break one of your organization's policies. What is the best course of action? Determine if the rule is one that can be broken and come up with an alternative plan of action if your approach doesn't work. Tiko and Camille's boss has a project in which the solution is a bit unclear. Tiko wants to use a waterfall approach and Camille wants to use the Agile approach. Which approach is best and why? Agile is best because it delivers partial solutions at regular intervals. Your organization runs numerous projects and wants to choose the most appropriate resources for each project team. Which of the following is the best tool for identifying project resources? Enterprise project management software offers tools to find resources with the right skills and availability. During which process group does the project manager orient team members to the project and expectations? At the beginning of the executing process group, you kick off the project, get resources on board, and explain the rules for the project. What are the components that differentiate a project from operational work? The definition of a project is "a temporary endeavor that has a unique goal and usually a budget." James is managing a project in which he has some authority to make decisions. In which type of organizational structure is James most likely managing this project? a matrix organization.This organizational structure can be weak or strong, but does allow the project manager to have some authority to make decisions. Ravi took on a system implementation project that he estimated would take six months to complete, but the work keeps continuing. What is the likely cause? When the work on a project keeps going, it is a sign the project is not well defined. Which organizational factor would you use when having to make a difficult decision? the organization's mission Which of the following skills is not crucial for a project manager to possess? accounting You are hiring a new project manager to take over a project with several teams that often disagree on what they are supposed to do. Which competency would you feel is most important in a candidate for this situation? strong leadership skills Your project seems to be going off track, so you take action to resolve the problem. In which project management process group are you working? Monitoring and controlling Rosanne's boss asks her to manage a project. Which question requires understanding of objectives, requirements, deliverables, and success criteria to answer? How will you know when you are done? Rudolph, the project manager, is trying to obtain customer approval of project deliverables. It is taking longer than he anticipated because the customer wants to discuss the results. What is the most likely reason for these delays? The success criteria aren't clear and quantifiable. Banton is defining his project deliverables. Which statement describes what a project deliverable is? Deliverables are the results that the project delivers and help define the project scope. The sponsor of Project T5 assigned you as the project manager, and the project has already been approved. What is the first thing you need to do as the project manager? Review what has been done and complete any tasks not addressed. As part of the project definition, Bisa identifies risks for the project. What is the purpose of doing this during project initiation? so management can decide whether the risks are serious enough to warrant denying the project After the plan is approved and project work begins, Tara's boss is not happy about a project delay for an upgrade. The vendor thought Tara's team would do the upgrade, and Tara thought the vendor would do it. What was missed in this situation? An assumption was not identified. You are managing a project that is implementing a new financial system. You need to include some of the finance department's resources on the team. Which stakeholder should you approach? a functional or line manager Why is it important to document the project scope? to remind stakeholders what they agreed to and to prevent scope creep Sakait has done some extra work to appease a client. Now the client is asking her to do one more task, which is significant and not part of project scope. What should Sakait do? Sakait should tell the client the task is not within scope and add the task using the change control process. You are the project manager for a healthcare system implementation project. The sponsor has asked you to create a project definition. What will the sponsor use this document for? to decide whether to approve the project Krisha is gathering information on her stakeholders, such as department names, factors that motivate them, who they listen to, and their contributions on the project. What is this document called? a stakeholder analysis Your boss has asked you to be the project manager of an approved software implementation project. Which project document identifies your authority and responsibilities? a project charter Several stakeholders for a project disagree on the priorities of many project objectives. Who would you ask first for help resolving this issue? the project sponsor Your client has asked for a project that will fix productivity concerns with the customer service department. After asking "why" several times, you are able to determine the cause and create a _____. problem statement Project objectives help you flesh out a project by _____. defining project scope Ramesh is creating objectives for his project. Which SMART step will help him identify actual progress? Measurable Your team has identified possible strategies for a project. The team is now evaluating them using a decision matrix. What is the purpose of weighting the objectives? identifying the importance of each objective Which technique would you most likely use to gather valid requirements and get buy-in from various departments? focus groups Your boss is asking you to take on a reengineering project. The company hasn't run reengineering projects before, but has hired several project managers with reengineering experience. Which technique is best to use in this situation to estimate time and cost? Delphi technique Your boss is asking you to take on a reengineering project. The company hasn't run reengineering projects before, but has hired several project managers with reengineering experience. Which technique is best to use in this situation to estimate time and cost? the average of the worst-case value and the 50% probability value on the normal distribution Your coworker has to develop a cost estimate but is unsure which is the best one based on a bell curve of costs for past projects. What is a general practice for choosing the best estimate? Choose a point halfway between the average and worst-case values. This approach will give the project the best probability for overall success, including contingency. Turkan is developing a resource management plan for his project. Which part of this plan articulates who makes decisions, who performs work, and who needs to receive status on the project? responsibility matrix To create a project schedule, you need to perform several tasks. Which choice is not one of these tasks? Set a deadline for the project. You are building your project schedule. You have the tasks in the right sequence. What is the next step you should take? Once you have tasks in the right order, you can add the estimated time for each task. Candace is a new project manager and has asked for your help with the project budget. Which type of cost typically represents the largest portion of a project budget? labor Mariko has created a work breakdown structure diagram to show work broken down into manageable pieces. Which choice is not a reason for creating the WBS? identifying deliverables George is building his work breakdown structure (WBS) to organize and distribute the project work to various departments. Which type of tasks would he use to represent a department's responsibility? summary tasks -These tasks are the higher-level tasks that organize work in some way, such as work for a department. Which factor is a test you can use to determine whether you have broken down the work to the right level? The work package is between 8 and 80 hours to complete. When would you create a work package document that describes the work to be done in explicit detail? the assigned resource is inexperienced Kendra has a project team of varying skills and experience. Since the WBS task names are short and may not be enough for the team members to know what to do, what should Kendra do? Kendra should have her team leaders create work package documents. Your client has just asked you to make changes to some features in the project. What would you do first? Ask the client to document and submit a change request form. Linde has a tight budget for her project. She needs to potentially seek outside sources. Which plan should she consult to understand the products or services that are available? the procurement plan The change review board can't get through all the change requests that are submitted. They want to focus on requests with significant impact. What process change would you propose to allow the review board to focus on significant changes? Set thresholds so you or team leads can decide what to do with small change requests. You are considering a vendor to help with a project. You are confident about how much work and time is needed, but you want the vendor to accept the risk. Which type of contract would you likely use? a fixed-price contract. This contract is used for well-defined projects and places the risk with the vendor, regardless of the time and cost it takes. The IT department says that there are several products that do what the project needs. What is the most important thing that will help you choose the right product? understanding your project needs Raghbir has done all the project planning and is ready to obtain stakeholders' approval. However, the stakeholders are not colocated. What is the best possible approach for getting their approval? Have a video conference with all stakeholders. Jivan is preparing an agenda for the project plan approval meeting. Which item should she not include in her agenda? schedule the project definition meeting Angela is about to start the project plan for a financial system migration project. What information should she identify first because it drives most of the plan? the work that must be done Izzy has finished identifying risks for her big project, but is unsure how to account for unknown risks from a time and cost perspective. What is the general practice most companies use for projects? Set aside a percentage of the budget and project duration based on past projects. If you don't have past experience, use 15%. You have created a risk management plan for your project. Which type of response would you use if the scope was changed to remove a risky section of the project? avoidance Chloe is developing her risk management plan and wants to make sure that she can get early warning that a risk might occur. What is the key item she should document in her risk information forms? the events that might trigger the risk The development team has encountered a problem with a software feature. They need to handle this problem quickly, but they can't make a face-to-face brainstorming session because they aren't local. Which alternative solution is best? videoconferencing One risk to your schedule is that a hard drive with customized software fails and you lose the work that was done. Resources on the project team regularly back up their work so they can resume work quickly after a hard drive failure. What type of risk management strategy do backups represent? Risk mitigation -which means you limit the impact or probability of the risk, which is what the team is doing by backing up their work regularly. Madhukant's project includes testing software functions. Which part of the quality management plan would address the processes that will be used to ensure the software is meeting the standards? quality assurance plan Why are planning and executing considered iterative activities? They will occur repeatedly as problems are detected. How do the phases of iteration differ from the phases of the project life cycle? Each phase is a project with a deliverable. What is the definition of "phase-gate"? A decision point between phases of iteration Float time is is the difference between the time required for the critical path to complete and the time for another path to complete. What is an example of a milestone date? as safety inspections Which of the following are elements of a project kickoff meeting? ALL Below: What happens once the initiating processes are completed? The project charter is issued. Which is a characteristic of a project that is well-suited to traditional project management methods? Risks are low and identifiable Which aspect of a project must be assessed during the planning process to ensure that a project is a good match for traditional project management methods? Volatility- is the level of instability in a project environment. Agile project management is an iterative approach to project management where the project team works closely with the customer to deliver projects in usable chunks. Which activity is not part of the Adapt stage? Although the Adapt stage includes a review of what was completed, you do not choose the features for the next iteration. How can using an Agile approach help a company improve delivery? by using an iterative approach to deliver value sooner What are the names for the stages in an Agile iteration? speculate, explore, adapt, These are the three stages a team cycles through for each iteration. The customer has identified several new features since the original backlog was built. What do you do to address them? The customer can add features at any time, at which point you estimate and prioritize them in the backlog. Because things can change, at the beginning of each iteration, you re-estimate, reevaluate and reprioritize backlog features before you decide which ones to add to that iteration. The Agile team is building and implementing features. The team lead runs a daily meeting to review the status on completed and incomplete work. Which Agile stage is the team in? explore During which phase does scope verification occur? Closing The project deliverables come from the stakeholder requirements identified in which document? Requirements Traceability Matrix Risk Appetite is the degree of uncertainty an entity is willing to take on in anticipation of a reward. Risk Tolerance is the degree, amount, or volume of risk that an organization or individual will withstand. Risk Threshold refers to measurements along the level of uncertainty or the level of impact at which a stakeholder may have a specific interest. Below that risk threshold, the organization will accept the risk. Above that risk threshold, the organization will not tolerate the risk (PMBOK, 2015). Which process do label nodes identify? Sequence What is a graphic representation for how a project will proceed? Network diagram indentation When laying out the information for a network diagram into the Text Box function, how are task dependencies shown? After When is the Gantt chart constructed in relationship to the deliverables and requirements being broken down into activities and tasks? Total Float the difference between the finish date of the last activity on the critical path and the project completion date. negative float the calculated completion date of the last activity is later than the targeted completion date established at the beginning of the project. Free Float The amount of time that a schedule activity can be delayed without delaying the early start date of any successor or violating a schedule constraint. Length of time...The critical path is the longest path, and its length of time is the only critical element. In describing a critical path, which is the only critical element? Fast-tracking What is the term for tasks when they overlap despite their dependencies? Project timeline reduction What is the definition of schedule compression? The requirements traceability matrix provides the standard by which the quality of project deliverables is measured. What serves as a key reference tool when monitoring project quality? scope change, contingencies, improvement plans, and external events (not internal events). What are the four categories of change: Are budget changes needed to complete the project as scheduled? Which question is answered by Earned Value Management? Actual cost (AC) A project manager is conducting an Earned Value Analysis and needs to know the total value of costs incurred to date. Which data element is the project manager evaluating? The budget of work scheduled to date The planned value (PV) can best be described as what? Cost variance (CV) compares the difference between the EV and the AC to determine if the project is meeting its budget expectations. CV = EV − AC Schedule Variance (SV) compares differences between the EV and the PV to determine if the project is meeting its schedule expectations or if there is a variance. SV = EV − PV The Cost Performance Index (CPI) uses the same inputs as the CV measure but combines them using a ratio that creates a measure of cost efficiency. CPI = EV/AC Schedule Performance Index (SPI) uses the same inputs as the SV measure but combines them using a ratio that creates a measure of time efficiency. SPI = EV/PV To Complete Performance Index (TCPI) is essentially what the CPI will need to be for the remainder of the project if the team intends to finish on budget. . The difficulty of this estimate is that the measure of remaining budget changes depending on whether you are
currently over budget or currently under budget. The percent complete index a measure of how much of the total project work has been completed. While it is officially called an index, it is actually an estimate of project
completeness and is included as an estimate rather than with the previous efficiency indexes. There are two methods to calculate : The Cost Performance Index (CPI) -uses a ratio that creates a measure of cost efficiency (CPI = EV/AC). CPI values greater than 1 or 100% mean that the project team is completing more work with less cost than expected. Anita, a project manager, determines that her project team is accomplishing more work at a cost less than anticipated. The To Complete Performance Index (TCPI)- allows the project manager and key stakeholders to determine if it is feasible for the team to improve their cost efficiency on the remaining work. A project manager has learned that a project is currently running over budget. The project manager can determine how efficiently the project team must work for the remainder of the project in order to finish on budget by calculating __________. The Estimate at Completion (EAC) is the new forecast of how much more in total the project is expected to cost once completed. EAC = AC + ETC Estimate to Completion (ETC) Provides an estimate of how much money will be needed to complete the project. It is based on the CPI measure of cost efficiency and how much of the baseline total budget has already been expended. ETC = (BAC − EV)/CPI Students also viewedProject Management Foundations Exam Study Guide106 terms emmameike00 Project Management Exam24 terms Casiornis IT Project Management Exercise 112 terms Raelyn_Marie7 PM Foundations43 terms anhco82 Sets found in the same folderLinkedIn PM Exam 180 terms mimodona Project Management160 terms mimodona Software ENG Quiz 4,5,631 terms mimodona Project Management Foundations Exam Study Guide106 terms mimodona Other sets by this creatorFrench RS L3 U1 L4145 terms mimodona French RS L3 U1163 terms mimodona MT Foundation 8170 terms mimodona MT Foundation 7159 terms mimodona Recommended textbook solutions Information Technology Project Management: Providing Measurable Organizational Value5th EditionJack T. Marchewka 346 solutions Service Management: Operations, Strategy, and Information Technology7th EditionJames Fitzsimmons, Mona Fitzsimmons 103 solutions
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Information Technology Project Management: Providing Measurable Organizational Value5th EditionJack T. Marchewka 346 solutions Other Quizlet setsAnimal care and Health23 terms heart888 Unit 3 RQ Questions17 terms carolinegreenholtz05PLUS Exsc 340 Exam 138 terms avarga11 HY 204 Final Exam63 terms Breanna_McDonald Which of the following are steps in the research project management lifecycle?The project management lifecycle consists of four steps: initiating, planning, executing, and closing.
What are the 5 phases of a project's lifecycle?What are the five stages of the project life cycle?. Initiating.. Planning.. Executing.. Monitoring/controlling.. Closing.. Which of the following are the 4 main stages of the project management cycle?Planning, build-up, implementation, and closeout.
What are the 5 phases on managing a research project?Developed by the Project Management Institute (PMI), the five phases of project management include conception and initiation, project planning, project execution, performance/monitoring, and project close.
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Which of the following are steps in the research project management lifecycle quizlet?
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