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Project Management
Midterm
| Question | Answer |
|---|---|
| All projects share a universal framework. What are the five process groups associated with the life cycle of any project? | initiate, planning, executing, monitor/control, closing |
| what process group would result in the creation of a project charter? | initiate |
| Any person that will be affected by the project in any way is identified a ______. | Stakeholder |
| Project should support business objectives. what might be some reasons to initiate a project? | financial, business need, responsibility |
| Hawkeye has just implemented a new print monitoring tool. identify at least three key stakeholders that are affected by this project. | students, CIS, Teachers |
| unfortunately, when gathering end user/customer input, one method has a tendency to become negitive providing limited direction. | focus groups |
| What method of gathering end user/ customer input can be done in either passive or active mode? | stakeholder observation |
| Define the major difference between passive and active modes of observation. | passive observers simply watch and document while an active observer interacts and may get involved in the work. |
| List three components of a stakeholder register document. | stakeholder ID info, Assessment info, stakeholder classification |
| Primary objective of the project charter is to identify ________. | the goal |
| why should the project charter clearly define the business need? | to show that the project supports the primary business need of the organization, provides an opportunity for the company, or solves a problem |
| a key component of the project charter is identifying key deliverables. What is meant by Key Deliverables? | primary products, services, or results |
| A key component of the project charter is identifying project purpose. Give an example. | "a purpose" |
| what is the definition of a project? | temporary endeavor to create a unique product or service |
| what should be used to determine or drive project implementation? | business needs |
| What is meant by "clarity is paramount"? | A project truly begins when you know exactly what the project will produce |
| there are two key outputs from the project initiation process group - identify them. | project charter |
| What is used to allow the project manager and customers to work together to find a solution to a problem? | Root Cause Analysis |
| What are the six steps to guide planning efforts? | define purpose of research in writing, determine what resources you will use during this research, delegate, get to work, organize and document, evaluate and do more research |
| What is a key component to insuring that a team does not get bogged down during research? | time |
| Who is sometimes helpful in determining the link between the business needs and project solution? | business anlayst |
| What is a business goal? | Scenario business wants to achieve |
| Give an example of a business goal. | Increase revenue by 20% |
| What is the desired future state identifying? | Where the company wants to go |
| What is benchmarking? | Comparing one component to a similar component. |
| ___ takes a larger problem and breaks it down into smaller, more manageable components. | Functional Decomposition |
| _____ is the study of the experienced effect and then seek out the associated cause. | Root Cause Analysis |
| What is the goal of conducting a feasibility study? | determine if a problem is solvable or whether an opportunity can be realized by the company |
| What are the two purposes associated with an Executive Summary portion of a Feasibility Study? | draw the reader into your findings, define key points of your plan. |
| Alternative identification is typically a component of what project planning report? | defined business problem or opportunity |
| What is an assumption? | something you believe to be true but you have not proven it to be true. |
| What is the primary purpose of the Financial Obligations section of a Feasibility Study? | provide an overview of the cost of the technology rather than a full-blown budget |
| What is the purpose of a Business Case? | Links the value of the project's solution to the organization |
| What four elements should ALWAYS be included in a business case? | benefit of the solution, cost of the solution, risk assessment, results measurement |
| What section of the business case is used to quantify the benefits, justify costs and define project ROI? | quantitative risk analysis |
| Cost, schedule, quality and scope can be referred to as _______. | Project Constraints |
| What document is considered the most important planning process document? | Project Scope Statement |
| List the four key inputs used to help create the scope statement. | Project requirements, feasibility study, business goals and objectives, business case document |
| Insuring that the project scope statement is in alignment with the stakeholder expectations is called ________? | Progressive Elaboration |
| List the six components of a scope statement. | Product Scope Description, product acceptance criteria, Project deliverables, project exclusions, project constraints, project assumptions |
| Define project constraints. | anything that limits the project manager's options |
| List four factors that may be considered in determining project priority. | value, project champion, current success rate of the project manager, purpose of a project |
| Required communications, scheduled meetings and expected types of communications are all components of a _______ plan. | Communications Management Plan |
| What is the difference between value and investment? | Value is what you think you'll have and investments are what you actually have |
| Technically speaking, what is the definition of quality? | Conformance to the project requirements and a fitness for use |
| Define gold plating? | Trying to use all the monies in thier budge by adding project extras |
| List the three common methods for VAR billing. | time and materials, fixed fees, cost plus contracts |
| What defines a micro project? | takes less than 2,000 hours of implementation and/or less than $250,000 to complete. |
| What is a WBS (Work Breakdown Structure)? | Provides a true reflection of all the deliverables the project will create, and using this, you can create an accurate and complete task list. |
| What software can be used to help simplify the creation and management of the WBS? | Microsoft Project |
| What is a contingency plan? | Predetermined decision that will be enacted should the project go awry |
| List 3 other names for contingency plan? | rollback plans, worst-case scenario, disaster recovery plans |
| ______ organizations are segmented into functional departments like Accounting and Sales. | Organizational |
| In which type of organization does a project manager have very little power? | Functional |
| What organizational model blends the team based on individual contributions and abilities? | Matrix |
| List the three variations of a matrix organization? | Communication is increased for project manager to keep all bosses up to date |
| what could be considered a core component of an excellent presentation? | the speakers intimacy with the topic |
| What does WIIFM stand for? | Whats in it for me |
| How is a feature different than a benefit? | a feature is backed by a benefit |
| What are the four major points of the WIIFM principle? | profitability, prouctivity, personal satisfaction, promotion |
| What three scopes or perspectivbes should a project manager consider when addressing an audience with a project proposal? | audience deliverables and technology |
| when distributing materials at the end of a presentation, what should always be included that provides project details and hard hitting facts? | stakeholder directory |
| what did Robert Louis Stevenson say? | Everyone lives by selling someone something |
| What are you selling? | ourselves and our projects |
| How long should it take to deliver a summary of technology and its benefits? | less than a minute |
| What is an elevator speech? | 20 second elevator ride to get your idea out there |
| "Capital" is another term for? | cash |
| What is the goal of using a murder board as a method for project selection? | Expose strength and weakness |
| when using a weighted scoring model, when completed, which projects take priortiy for implementation? | High scores |
| Why is using the payback period considered one of the weakest methods for project selection? | cash inflows are not discounted against the time it takes to begin creating the cash |
| What method of project selection does account for the time value of money? | Payback period |
| Why is NPV considered more accurate than the lump sum approach used by the present value (PV) formula? | Evaluates monies returned from a project |
| What does an NPV vlaue of greater than 0 indicate? | good and should be approved |
| What are the five needs identified by Maslow? | psychological, social, safety, esteem, self-actualization |
| What is considered the pinnacle of Maslows Hierachy of Needs? | Self-actualization |
| What are the needs identified by McClenlland? | Need for achievement, need for affiliation, need for power |
| According to McClelland, each person has three needs. What affects the order and magnitude of each of the needs? | Persons Experience |
| According to Herzberg, what two agents affect people's views toward their career? | Hygiene agents, motivating agents |
| According to McGregor - what traits are associated with X people? | They're lazy and must be micromanaged |
| What two things does an effective project manager do after assembling their team? | Build team cohesiveness, Individual performance appraisal |
| When leading a project, remember your authority is related to the ________ ________ you operate in. | Type of organization structure |
| What other business languages might you need to learn to speak as you present and communicate with senior managers? | ROI, productivity, and competitive advantage |
| If the project fails, who is responsible? | you (The project manager) |
| What is micromanagement? | management style whereby a manager closely observes or controls the work of subordinates or employees |
| what is a benefit associated with involving team members early in the project | better understanding of the project |
| What is a project kickoff | Meeting or event to introduce a project |
Created by:
demorkem