Project Management Chapter 4

In a weighted scoring model, the sum of the weights of all the criteria must total _____ percent.

100

_____ involves identifying and controlling the functional and physical design characteristics of products and their support documentation, and ensures that the descriptions of the project's products are correct and complete.

Configuration management

_____ should result in improvements in project performance.

Corrective actions

_____ involves working with stakeholders to create the document that formally authorizes a project.

Developing the project charter

_____ involves coordinating all planning efforts to create a consistent, coherent document.

Developing the project management plan

_____ are new requirements imposed by management, government, or some external influence.

Directives

Which of the following is true of return on investment or ROI?

It is always a percentage

Which of the following are organizational process assets?

Management systems

_____ analysis is a method of calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time.

Net present value

Which of the following is a proactive process undertaken to reduce the probability of negative consequences associated with project risks?

Preventive actions

An IT company revises its process parameters in response to complaints from vendors that products were not ready on time. This would be an example of _____.

a corrective action

The project schedule information section of the project management plan includes ____.

an elaborate timetable

The _____ stage of information technology planning outlines business processes that are central to achieving strategic goals and helps determine which ones could most benefit from information technology.

business area analysis

Benefits minus costs is known as the _____.

cash flow

A(n) _____ is a formal, documented process that describes when and how official project documents may be modified, the people authorized to make modifications, and the paperwork required for these changes.

change control system

The first step in determining the NPV is to _____.

determine the estimated costs and benefits for the life of the project and the products it produces

The majority of time on a project is usually spent on _____, as is most of the project's budget.

execution

The outputs of the _____ process include change request status updates, project management plan updates, and project document updates.

monitoring and controlling

A _____ is a document that recognizes the existence of a project and provides direction on the project's objectives and management.

project charter

The _____ section of the project management plan describes how to monitor project progress and handle changes.

project controls

A _____ is a document used to coordinate all project planning documents and help guide a project's execution and control.

project management plan

In the _____ stage of selecting information technology projects, organizations define project scope, benefits, and constraints.

project planning

The _____ section of the project plan should describe the major project functions and activities and identify those individuals who are in charge of them.

project responsibilities

The _____ is the minimum acceptable rate of return on an investment.

required rate of return

In the _____ stage of selecting information technology projects, organizations select information technology projects.

resource allocation

The _____ section of the project management plan describes specific methodologies a project might use and explains how to document information.

technical processes

Payback occurs when:

the net cumulative benefits equal the net cumulative costs.

The business case includes information on _____.

the project objective, high-level requirements, and time and cost goals

The first step in the planning process is _____.

to tie the information technology strategic plan to the organization's overall strategic plan

A project's internal rate of return can be determined by finding what discount rate results in an NPV of _____ for the project.

zero