AD-642 Project Management

is sometimes used to mean the extent of the project

"scope" As in, "scope creep" which is the tendency for the project to grow. The project may grow in any dimension: the spec content (usually), the SOW, the cost, the deliverables, the schedule, etc.

The lowest level deliverables are called__________

"work packages." should be written as actions

what involves project scope managment

5.1 - Collect Requirements 5.2 - Define Scope 5.3 - Create WBS 5.4 - Verify Scope 5.5 - Control Scope

A critical factor to ensure the success of integrating the strategic plan with projects lies in a process that A) is open and published for all participants to review B) starts with top management's directives C) with projects first and integrates them with the strategic plan D) both b and c are correct E) a, b, and c are all correct

A

The assessment of the external and internal environments is called _______ analysis. A) SWOT analysis B) competitive C) industry D) market E) strategic

A

Which of the following terms is often used to denote a project that a powerful, high-ranking official is advocating? A) sacred cow B) pet project C) political necessity D) special undertaking E) strategic ploy

A

how does a project start?

A project starts with an end deliverable.

when are specifications written?

A specification statement is written during Scope planning. Specification planning encompasses the process of determining what the overall objectives of the project are and defining what deliverables will fall within those parameters.

Which of the following is not one of the traditional components found in mission statements? A) major products and services B) profitability C) target customers and markets D) geographic domain E) contribution to society

B

Which of the following is not one of the characteristics of effective objectives? A) Realistic B) Assignable C) Flexible D) Specific E) Measurable

C

Which of the following is the correct order for the strategic management process? A) strategies, mission, goals, projects B) goals, projects, mission, strategies C) mission, goals, strategies, projects D) goals, mission, strategies, projects E) projects, mission, strategies, goals

C

decisions based on the end justifying the means.

Teleological decisions type: Utilitarianism

Projects are usually classified into all but one of the following categories. Which one is not one of the typical classifications? A) compliance and emergency B) operational C) strategic D) political necessity E) all of these are typical classifications

D

The textbook indicated that ________is the major dimension of strategic management. A) responding to changes in the external market B) allocating scarce resources of the organization C) beating competition to the market D) both a and b are correct E) both a and c are correct

D

Which of the following is a main reason why project managers need to understand their organization's mission and strategy? A) They can better focus on the immediate customer. B) They can make appropriate decisions and adjustments. C) So they can be effective project advocates. D) both B and C are correct E) A, B, and C are all correct

D

decisions based on what you regard as an inherent duty. You do it because you think it is "right".

Deontological decisions type: Self-Improvement

Which of the following financial models are typically included in project selection? A) payback B) net present value C) Internal rate of return D) both a and b are correct E) a, b, and c are all correct

E

Which of the following is not one of the requirements for successful implementation of strategies through projects? A) allocation of resources B) prioritizing of projects C) motivation of project contributors D) adequate planning and control systems E) all of these are requirements

E

Which of the following is not true of multi-weighted scoring models? A) will include quantitative criteria B) will include qualitative criteria C) each criterion is assigned a weight D) projects with higher scores are considered more desirable E) All of the above are true

E

emv formula - lecture 11 mod 6

EMV (Expected Monetary Value) = Sum of [ Probability (P) * Amount (A) ]

project structures

Functional Projectized Matrix Network University Construction Defense Contracting Fashion Apparel

________ are are well defined pathologies that can infect projects.

Groupthink Team Spirit becomes Team Infatuation Bureaucratic Bypass Syndrome Going Native

what are the processes of PM?

INITIATING PLANNING EXCUTING MONITOR AND CONTROL CLOSING

________________is an organizational body or entity assigned various responsibilities related to the centralized and coordinated management of those projects under its domain.

Project Management Office

Project network times are not a schedule until resources have been assigned.

Project network times are not a schedule until resources have been assigned.

what is the The Strategic Management Process

Responding to changes in the external environment Internal response to new action programs

what are the characteristics of objectives

SMART0 Specific - Detailed, thorough, comprehensive and meticulous Measurable - If you can't measure it, it is irrelevant Assignable - Who is responsible? Realistic - Hard to define, but you know it when you see it Time based - What is the schedule for it? 0- OPEN

monte carlo analysis

applied using specialized software, accounts for all of the positive and negative factors (risks) that could affect the duration of an individual activity. The tool uses the mathematical probability of the various factors occurring over the course of the project, and estimates the overall impact on the cost and schedule.

heuristic estimating

base their estimates on historical data they have accumulated from past projects, as well as their own experience. "Rule of Thumb" and "expert judgment" are types of heuristic estimating.

How are risks analyzed?

based on Probability & Consequences, or amount at stake

________involves both duration and cost estimates. For _________, duration and cost estimates start at the lowest level of activity on the work breakdown structure (WBS), then work up toward the highest level of activity on the WBS.

bottom up estimating

________is the document that formally authorizes a project.

charter The charter gives a very high level description of the project and its objectives, which are the quantifiable criteria that indicate completion of the project. The charter also grants to the project manager the authority to spend money and use the organization's resources to accomplish project activities.

________________ is a factor that limits the options for the project.

constraint

is a point where scope, costs, and schedule are integrated and compared to the earned value performance measurement.

control account

WHAT IS THE wbs?

deliverable-oriented hierarchical decomposition of the work to be executed by the project team to accomplish the project objectives and create the required deliverables, with each descending level of the WBS representing an increasingly detailed definition of the project work.

what are the elements of a specification?

description justification or opportunity goals/objectives deliverables risks/assumption/constraints

________is a situation where it is difficult to determine whether conduct is right or wrong.

ethical dillema Ethical dilemmas are those in which it is difficult to determine the right decision.

________involves recognizing and articulating the need for change, and then motivating people to work together to realize the new objective.

leadership

__________includes marshal resources, interface to customers, direct and coordinate the team, ensure that appropriate trade-offs are made, and orchestrate the completion of projects. These are "management" flavored activities.

management

matrix

merges the functional and purely project organizational forms to combine their advantages and overcome their disadvantages. Since each organization is different, no two organizations will have the same matrix design.

what is the process of a project?

mission, strategy, tactics, golas/objectives,

___________ include the common knowledge regarding how to get the work done, what is acceptable, and who is influential.

norms

_____________is the management of the portfolio, which involves prioritizing, managing, and controlling all of the items in the portfolio.

portfolio management

______________is a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually.

program

a temporary endeavor undertaken to create a unique product or result is a

project

network

requires a "hub" or "core" firm with strong core competencies. The core firm outsources activities to a collaborative cluster of satellite organizations

The work that needs to be accomplished to deliver the product, service, or result with the specified features and functions.

scope scope is the definition of what is to be delivered The scope is the most important document and its most important part is the spec. While the SOW is a contractual document, and one cannot neglect it, it is much easier to write.

___________is the tendency of the requirements to grow over time.

scope screep

_is a tool that will help you choose the best project team available

skills inventory

__________ are the features and functions that characterize the product, service, or result.

specification

The __________ is a document that completely and precisely specifies the requirements for the project.

specification The SOW and Spec together define what the project is and how it will be developed.

____________is a description of the products and services to be supplied during the project.

statement of work - sow SOW is the basis of the contract between the customer and the organization doing the project

functional structure

the project is assigned to the functional department either that has the most expertise, or that can provide the most resources, or that can be the most supportive in implementing the project, or that can ensure the project's success.

projectized

the project is separated from the parent organization and is a self-contained unit. In a projectized set-up, the project team tends to have much more freedom and may or may not use the administrative and financial resources of the parent organization.

what is the goal of PM?

to achieve the defined objectives for scope, time, and cost, and all with suitable quality, that have been identified for the project

utilizes a previous project's scope to compute the effort based on the requirements stated in the scope and parameters the company has developed. When using ______, you assume that estimates for past projects accurately apply to the new project. It is important that the projects be very similar, or the estimate for the new project will be inaccurate.

top down estimating

define project characteristics

unique established objectives defined lifespan complex interdependencies

parametric estimating

uses historical data and statistical relationships to estimate the duration, cost, or resource expenditures.