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| Question | Answer |
|---|---|
| Project Management Body of Knowledge (PMBOK Guide) | The project management standard developed by the Project Management Institute. |
| benefit measurement methods | provide a means to compare the benefits obtained from project requests by evaluating them using the same criteria. |
| co-located | meaning they work together at the same physical location. |
| constrained optimization methods | are mathematical models, some of which are very complicated. They are typically used in very complex projects and require a detailed understanding of statistics and other mathematical concepts |
| cost-benefit analysis | A commonly used benefit measurement method that calculates the cost of producing the product, service, or result of the project and compares this to the financial gain the project is expected to generate. |
| decision model | A formal method of project selection that helps managers make the best use of limited budgets and human resources. Includes benefit measurement methods and constrained optimization models. |
| discounted cash flow | Compares the value of the future cash flows of the project to today's dollars. |
| economic model | A type of benefit measurement method. It is a series of financial calculations that provide data on the overall financials of the project and is generally used as a project selection technique. |
| expert judgment | A technique used in project selection, determining estimates, and determining other related project information that relies on the knowledge of those with expertise on the requested subject matter. |
| feasibility | study Undertaken to determine whether the project is a viable project, the probability of project success, and the viability of the product of the project. |
| functional organization | A form of organizational structure. are traditional organizations with hierarchical reporting structures. |
| internal rate of return (IRR) | The discount rate when the present value of the cash inflows equals the original investment. Projects with higher IRR values are generally considered better than projects with lower IRR values. Assumes that cash inflows are reinvested at the IRR value. |
| matrix organization | An organizational structure where employees report to one functional manager assign employees to projects and carry out administrative duties and at least one project manager that assign tasks associated with the project to team and execute the project. |
| net present value (NPV) | Evaluation cash inflows using discounted cash flow, applied to each period the inflows are expected. The total present value of the cash flows is deducted from the initial investment; this assumes that cash inflows are reinvested at the cost of capital. |
| operations | typically involve ongoing functions that support the production of goods or services. They don't have a beginning or an end. |
| payback period | The length of time it takes a company to recover the initial cost of producing the product or service of the project. |
| program | A grouping of related projects that are managed together to capitalize on benefits that couldn't be achieved if the projects were managed separately. |
| define a project | brings about a unique product, service or result and has definite beginning and ending dates. |
| project-based organization | focused on projects. Project managers have final say over the project, and sometimes departments like human resources and accounting might report to the project manager. are responsible for making project decisions and acquiring and assigning resources. |
| project management | Applying skills, knowledge, and project management tools and techniques to fulfill the project requirements. |
| Project Management Institute (PMI) | The world's leading professional project management association. |
| Project Management Knowledge Areas | The nine project management groupings, or Knowledge Areas, that bring together common or related processes. They are Integration, Scope, Time, Cost, Quality, Human Resource, Communications, Risk, and Procurement. |
| project managers | The person responsible for applying the skills, knowledge, and project management tools and techniques to the project activities to successfully complete the project objectives. |
| project selection methods | Used to determine which proposed projects are approved to move forward. |
| scoring model | One of the benefit measurement methods. It contains a predefined list of criteria against which each project is ranked. Each criterion has a scoring range and a weighting factor. can be a tool to select from among competing vendors. |
| Four common benefit measurement methods | are cost-benefit analysis, scoring model, payback period, and economic model. |
| project | Temporary in nature, with a definite start and end date; creates a unique product, service, or result. It is completed when the goals and objectives of the project have been met and signed off on by the stakeholders. |
| The project team is nearing the end of development and is ready to start testing the entire application. Which kind of testing will they perform? | System |
| In the planning stages monies need to be budgeted for which one of the following after Close Out tasks? | Maintenance |
| Which of the following are included in the goals of the Close Out phase? | User Acceptance |
| As part of the project closure process the project manager should document the: | Formal acceptance from stakeholder |
| a vendor contacts the project manager requesting a delay in product by two weeks. The project manager explains to the vendors that a delay in shipment will cause the project to run beyond schedule, How might this situation BEST be handled? | Explain the impact of a late shipment to the vendor, request at least partial shipment to avoid running beyond the scheduled time of completion, and call a meeting to inform the stakeholders of the project situation. |
| How should the project manager BEST handle this situation? | Break the issue into logical sub-issues. |
| Given a limited resource from a cost-functional group, which of the following will help insure follow-through? | Get approval from the manager of the resource. |
| Which tool is the MOST effective for classifying issues by their frequency of occurrence? | Pareto diagrams |
| The project manager has been asked by the customer to make significant changes to the project. These changes were not addresses in the Design Document or Project Scope. What is the BEST way for the project manager to respond to the request? | Submit a Change Request to the Change Control Board. |
| What performance reporting technique will the project manager use to determine project results over time to determine if performance is improving or deteriorating? | Trend analysis |
| A Confronting (or Collaborating) conflict resolution mode will handle conflicts by: | Having the parties work through their disagreement directly. |
| Which tasks characteristics affects the estimated effort for human resources? | Task scope |
| The project team is in the process of designing and developing a CBT (Computer Based Training) application to support the deployment of a new system.Which strategy would contribute to assuring a quality CBT (Computer Based Training)? | Developing an understanding of the project sponsor's acceptance criteria. |
| Which factor has the greatest impact on the actual duration of project tasks? | Resource capabilities |
| Identifying and managing the critical path is vital to the success of a project because: | Activities on the critical path do not have any slack time. |
| As the project manager builds the project team, recruiting the right personalities for the work can be key to the success of the project.Which of the following is the BEST match of project focus to personality types? | Problem resolution focus. attention to detail, high integrity |
| A necessary task in preparation of the Close Out phase is: | Project review |
| A project charter and a list of high level project requirements enables the project manager to identify: | The high level value of the project to the sponsors and users |
| As part of the overall scope definition and project planning in the initiation phase of a project, the project charter and SOW (Statement of Work) require the project manager to: | Investigate industry specific regulations for impact on the plan. |
| If the risk probability is 35% and the consequence is determined to be $74,500, what is the risk exposure? | . $26.075 |
| Which component is part of an effective communication plan? | Frequency |
| The IT Project Manager recognizes that quality is of utmost importance. Which fundamental tenant of mechanism can be implemented to ensure quality is MOST likely to be achieved? | Planning it into the project. |
| The SOW (Statement of Work) is another name for the: | Narrative description of the work to be accomplished. |
| starvation and integration is that starvation results in funding or resource cuts, integration results in reassignment or redeployment of the resources. Which one of the following processes is MOST significant to meeting quality management objectives? | Planning |
| Which assumption would be the MOST important in creating a high level budget? | The hourly rate for project members. |
| "Fast-tracking" a project means: | That project activities which are normally done in a series are done in parallel. |
| The column chart that shows the number of resources assigned to a project over time is called a: | Resource histogram |
| A checkpoint review in the project plan indicates a: | Go / no-go |
| What is a reason for reviewing the user requirements document with the client? | To verify mutual understanding of targeted product performance. |
| The first step for initiating the planning process of a project is to: | Plan the scope of the project. |
| QA (Quality Assurance) plans must include: | The activities of defect tracking, unit testing, technical reviews, integration testing and system testing. |
| the project manager recognizes the team is running behind. The project manager realizes that this project cannot run late.Which control mechanism or method can the project manager use get the project completed on time without over scheduling resources? | Use a Gantt chart and resource histogram to determine critical path, slack and resource leadings. |
| production of the initial project plan. The project manager needs to define the tasks needed for the production of the Physical Design Specification. Which approach should be taken in planning the production of this deliverable? | Develop a complete list of tasks with estimate of effort, time and resources. |
| What is the BEST approach to conflict resolution? | Mutual respect and cooperation |
| user requested that a function be included in the system manager has examined it and is unsure which option is the best, manager decides that it provided valid. he meet with the user but is unable to persuade them to change Which is the appropriate? | Put the issue to the project board for resolution and document the outcome of their deliberations. |
| A project is performing well under budget, however, in order to meet the customer deliverables, the delivery date to the customer will be over two weeks late. There are no additional resources to assign to the project. What should the project manager do? | Notify the customer of the delay, and get the proper approval documented. |
| large project has been in progress for some time. The team has just completed the design phase and is working on the implementation stage. At this point, which change is possible without incurring the risk of reworking the entire design phase? | Delivery date |
| Under what circumstances would the project manager be required to send a change request to the sponsor and stakeholders? | When the costs exceed budgeted allowable variances. |
| Which type of Conflict Resolution is MOST likely to produce a win / win outcome? | Compromising |
| During the course of a database development project, the project manager conducts a review, and notices that the project is running over budget and over schedule. What is the MOST common, non-behavioral reason for projects that exceed budget and schedule? | A project with a poorly defined scope. |
| When it appears that a technical limitation will interfere with meeting customer performance objectives, the preferred response is to: | Develop alternative solutions to the problem. |
| If an issue cannot be resolved and remains a serious threat, it then becomes: | A critical issue |
| Which management theory assumes that individuals like to work, want to achieve, and can direct their own efforts? | Theory Y |
| Measurements were specified for American Units, but the overseas programmers used International Units. Where in the project could this problem have been avoided? | Project planning |
| One of the technologies used in the development has become obsolete. The third party proposes an alternative. Which action should the project manager take first? | Determine the impact on the overall project. |
| A critical vendor has just notified the project manager that due to circumstances outside of their control, they will be delivering critical supplies for the project two weeks later than originally planned.What is the BEST immediate course of action? | Adjust the project schedule, and seek approval for the changes from the major stakeholders. |
| Select the MOST effective communication method for providing work instructions and directions. | Written communication |
| Verbal is easier and less hard than written communication an excellent way to get across messages. instructions are better written it provides reader way to go over info they not quit sure about. Identify the MOST efficient intra-team communication tool. | Brainstorming |
| Project and operations within a business share many characteristics. Which of the following characteristics specifically relates to projects? | Temporary and unique. |
| In the second week of implementation,. the project manager receives a request from the customer to add functionality to the designed solution. What should the project manager do? | Analyze the customer's request. |
| What should be developed first when allocating resources? | WBS (Work Breakdown Structure) |
| The power strategy that involves using one's personal knowledge to get people to change their behavior is called: | Expert power |
| To reduce project coordination and communication complexities, regular status meetings should be held frequently with the: | Project team |
| The purpose of Pareto Analysis is to observe the problems and determine their: | Frequency of occurrence |
| The company is experiencing financial problems and has The budget for an in-house project is cut in half. The manager of the project feels that the project is close to termination. What termination strategy is being used by the company? | Termination by starvation |
Created by:
mfwhite817
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