C722- Project Management

Which two processes are considered iterative processes?

(1) Planning (2) Executing

A project manager is creating a list of anticipated project tasks while building a calendarized budget. What is the key component of this budget called?

Activity estimates

What is another name for the lessons learned review that is often used by the military and other uniformed services?

After action report

A project manager wants to understand and document the approvals that must be obtained for each work package in the work breakdown structure (WBS). Which tools document the approval requirements for each work package?

(1) Project statement of work (SOW) (2) Requirements traceability matrix (RAM)

Which two organizations are examples of organizations with the functional organizational structure?

(1) The U.S. Department of State and (2) The U.S Department of Energy

To calculate whether revenue tomorrow is greater than costs today

Net present value

What is the name for the closing task where all project activities are reviewed to determine what went right and what went wrong?

Lessons learned review

A project team is gathered together to begin the planning process for a large office building. It is discussing estimates of each activity in the schedule. For all of the plumbing-related work, the team will use the information obtained from the plumber-in-residence in its organization. What estimating technique will be used?

One-point

Which output is needed prior to using the bottom-up estimating technique?

Work breakdown structure

Place the project activities in order of occurrence from first (1) to last (5).

(1) Collecting customer requirements (2) Developing the work breakdown structure (3) Working to produce project deliverables (4) Customers evaluating the project outcomes (5) Capturing lessons learned

Which tool could a project manager use to ensure that the project team will address the items that are important when developing and defining the project's scope?

Checklist

Which group is included in the five process groups?

Closing process group

A project manager is discussing the latest financial reports of a project to construct a grocery store and is approximately 90% into the planning phase. The project manager has been told by a project team member that other grocery stores in the area have an automated teller machine (ATM) for visitors. An ATM has not been discussed or incorporated into the planning of this project nor have any been incorporated into prior grocery store services. The leader calls for the immediate addition of an ATM into all prior grocery stores. Which non-numeric model is this leader using?

Competitive necessity

What is the correct term for an intermediate outcome of project work, such as a signed contract or obtaining a construction permit?

Deliverable

The customer of a project validates that the project scope has been completed, all invoices have been paid, and the expected benefits have been realized. Which closure practice does this describe?

Deliverable completion

In the work breakdown structure given for a software development, which component is the starting point for developing the project schedule?

Determine data format

Which activity is performed during the creating part of the initiating process?

Drafting the project charter

During which life cycle phase is the vast majority of the actual work to produce the project's deliverables completed?

Executing

Which PMBOK process group is described as the delivery part of project management where the main activity happens?

Executing

Which activity is accomplished as part of the executing process of a project?

Implementing the project plan

A firm begins its strategic business initiative of developing a new business model to enhance its competitiveness. What can be identified as a strategic business initiative for this firm?

Improvement in product design

A firm begins its strategic business initiative of developing a new business model that will allow the firm to deliver an efficient, tailored service to its customers. To accomplish this, the firm initiates a business management project. Which aspect of project management applies to this firm's project?

Interdependent Tasks

To calculate future cash flows using time and interest rate

Internal rate of return

A general contractor is managing a highway construction project that will repair a flood-damaged road. The project was documented in a cost-plus-incentive fee contract that specified a completion date of June 30. The Department of Transportation has offered an incentive for early completion of the repairs. Which triple-constraint baseline remains unchanged by the effects of the incentive?

Scope

A project is an operational necessity to repair a design flaw in the date field that constrains the year number to two digits, instead of permitting the year to be indicated with four digits. If the project is not completed before December 31, 1999, many legacy programs are expected to fail or produce unpredictable outcomes. The marketing department wants to upgrade its existing computer equipment and have the costs included in the budget for this project. The project team implemented the marketing department's request without completing the formal change control procedures. What has happened to the scope baseline in this scenario?

Scope creep has caused a scope variance.

The customer of a project validates that scope has been completed for the second of three segments of the project. Which closure practice does this describe?

Stage completion

A state college is launching a library building project. The project manager has constructed a work breakdown structure (WBS) for the project. A few elements from the WBS are shown in the table below (the WBS ID numbers and indentations of the descriptions are intentionally omitted). WBS ID Description ? Library project ? Facility needs ? Academic plan ? Stakeholder input ? Building proposal ? Siting ? Fundraising ? Potential donor list ? U.S. donors ? Florida donors Which two WBS elements of this project are on the same level as each other? Choose 2 answers

(1) Building proposal (2) Fundraising

A company specializes in high quality home improvements and remodels. The project for a living room consists of six primary tasks. As soon as the demolition is completed, the floor installation and electrical work can begin. The cabinet installers and painters may begin their work after the floor is installed. Finally, the interior decorators can finish up the project after the paint has dried. Which network diagram correctly represents this living room remodeling project?

???

Consolidated Systems, Inc. is initiating a project to develop a new Inventory system with a specific system launch date and fixed budget. The company had planned to use a software development tool it has used for past projects but is now considering instead using new state-of-art software that has the potential to speed development. The available staff is familiar with the old software development tool. What can the company do to avoid the risk of project delays?

Continue using the old software tool

In Project A, the contract specifies that time is very important. All of the scope must be completed, or the project will fail. The project's objective requires the project team to work as quickly as possible. Which triple constraint can be adjusted to permit the project team to work as quickly as possible?

Cost

A project manager is working on a large two-year IT project. At the end of the first year, the project is two months behind schedule because the interface programming is taking longer than planned. The sponsor will not extend the deadline or the budget but is willing to eliminate an interface. Which schedule compression technique can the project manager use?

Crashing

A project manager has identified activities in a calendarized budget. What is the appropriate next planning action this project manager should take to utilize the cost, duration, and sequencing information for these activities?

Creating project schedules

Which activity is accomplished as part of the planning process of a project?

Finalizing the project budget

Which activity is accomplished as part of the planning process of a project?

Finalizing the project schedule

Bantam Electronics, a leader in mobile communications, has fallen behind in technology. Competitors have introduced products using the latest technology. Resources with expertise in this technology are scarce since there are very few universities offering training in the technology. Bantam's market share has fallen from 70 % to under 50%. What can Bantam do to mitigate the risk of losing further ground in technology?

Hire technical staff from the competition

What information does this resource histogram display that can help during the planning phase of the project?

Opportunities to level resource usage patterns

To calculate the alternative use of money

Opportunity cost

What does PRINCE2 stand for?

PRojects IN a Controlled Environment

During a certain project phase, specific blueprints are drawn and approved, materials and labor costs are estimated, prototypes are created, and work activities and tasks are identified. Also, quality expectations, measurements, and costs are defined. During which project phase do these activities occur?

Planning

A project was authorized as an operational necessity to repair a design flaw in the date field on a computer system that constrains the year number to two digits instead of permitting the year to be indicated with four digits. During execution of the activity concerned with identifying the affected software, five relevant software modules were discovered that had not been included in the scope baseline. The project team must adjust the baselines to include the omitted scope. Which change management phase does this scenario describe?

Preparing for the change

A firm begins a strategic business initiative of developing a new business model that will allow the firm to deliver an efficient, tailored service to its customers.

Project sponsor

An organization expects to use a project management office (PMO) to support multiple projects that will be implemented within a projectized organizational structure. Which implied effect is a benefit to this organization?

Project team members gain access to historical data from other projects.

Regardless of the organizational structure used to manage a project, an organization elects to use a project management office (PMO). Which benefit will this organization gain?

Projects will coordinate resource usage by monitoring the status of shared resources.

Which activity is accomplished during the closing process of a project?

Reconciling the vendor accounts

A project manager is working on a large two-year IT project. At the end of the first year, the project is two months behind schedule because the interface programming is taking longer than planned. The sponsor will not extend the deadline or reduce the scope. The project manager decides to crash the schedule to meet the project deadline. What is the risk of this decision?

Reduced quality of deliverables

A general contractor is managing a highway construction project that will repair a flood-damaged road. The Department of Transportation offered an incentive fee if the repairs are completed early. Therefore, the project manager has established a rewards and recognition program and has communicated this program to the project team members. The project's recognition program will reward project team members who add value by accelerating the project while maintaining its ability to deliver the completed scope correctly. Which change management phase does this scenario describe?

Reinforcing the change

The World Fabrication Corporation is launching a project that calls for the heavy use of copper-clad bolts. The cost of these bolts fluctuates daily and it is difficult to estimate the project cost over several weekly purchases of bolts. The threat of cost increases is highly probable with a potentially significant budget impact. The company has decided to contract with the supplier to buy the bolts at a fixed price for the expected duration of the project. What risk response strategy is World Fabrication Corporation using?

Risk Avoidance

An organization has a surplus of project dollars in the operating budget. The senior leader's decision is to fund one more project with the remaining funds. Of the three projects proposed, one of the projects was selected without evaluation of feasibility or viability. Which non-numeric model is this leader using?

Sacred cow

The following table shows the Level 1 work breakdown structure (WBS) for Project A. WBS ID Description 0.0 Project A 1.0 Project started 2.0 Feasiblity 3.0 Design 4.0 Development 5.0 Manufacturing 6.0 Distribution 7.0 Project completed Which approach did the project manager use to structure the WBS?

Sequence of project phases

For the following collapsed work breakdown structure (WBS) for Project O, the project's steering committee held a phase gate review of the Feasibility results. That review determined that the project's proposed design would be obsolete before it would reach the marketplace. WBS ID Description 0.0 Project O 1.0 Project started 2.0 Feasibility 3.0 Design 4.0 Development 5.0 Manufacturing 6.0 Distribution 7.0 Project completed Which action should the project manager initiate?

Terminating the project as soon as possible and releasing the project's resources

What is the time value of money?

The concept that a dollar today is worth a dollar, but a dollar in a year will be worth less than a dollar

What is internal rate of return?

The discount amount when present value of cash intake equals the original investment

Which process involves determining who the project's stakeholders are?

The initiating process

A project team is gathered together to begin the planning process to create a new website for its client. Discussions have turned to website capacity. Some team members believe the bandwidth of the site needs to be higher to avoid the website freezing. Others believe the bandwidth is too high as it is right now. A finite capacity needs to be determined to define the estimated time to complete this task. What estimating technique will be used?

Three-point

In Project B, all of the scope must be completed, or the project will fail. The work is important but not urgent. Which triple constraint can be adjusted if the project's objective requires the project team to work at the lowest possible cost?

Time

To calculate money's worth today compared to in the future

Time value of money

What is the purpose of the schedule performance index (SPI)?

To determine a project's time efficiency

What is the purpose of cost variance (CV) analysis?

To determine if a project is meeting budget expectations

What is the purpose of the cost performance index (CPI)?

To measure a project's cost efficiency

Which deliverable from a work breakdown structure (WBS) is not specific enough to measure its completion at project closure?

User training

A general contractor is managing a construction project that will add a new conference room to an existing office building. The project was documented in a fixed-price contract that specified a completion date. The contract includes a damages clause imposing a late completion penalty if the conference room is not ready for use by the due date. One month into the implementation, the customer wants to modify the room's lighting equipment. The requested change will delay the project's critical path by three months. Which process should be used to maintain the existing baseline?

Using a change management system to influence performance

For the following collapsed work breakdown structure (WBS) for Project O, the project manager must complete the scope baseline. In addition to the WBS, the scope baseline will contain two additional documents. WBS ID Description 0.0 Project O 1.0 Project started 2.0 Feasibility 3.0 Design 4.0 Development 5.0 Manufacturing 6.0 Distribution 7.0 Project completed What are the other two documents that belong in the scope baseline?

WBS dictionary and project scope statement

A general contractor from Germany is managing a construction project in Norway that will add a new conference room to an existing office building. The project needs to collect requirements from the client prior to developing plans to build the new conference room. Which two actions would prove useful to plan the project's quality?

(1) Defining traceable and verifiable requirements that can be validated at project closure (2) Establishing metrics that describe what to measure and how to measure it

Each project team member generated a series of questions to evaluate three projects. The checklist was compiled into one list based on frequency of question content, such as personnel, materials, experience, and time. The more frequent the question content, the more likely the questions would be asked first. Which two benefits result from this checklist approach?

(1) Operational impact has been built in (2) Strategic impact has been integrated.

The general manager of a hotel has asked for a project to put in new landscaping around the building. The project manager has constructed a high-level work breakdown structure (WBS) for the project, which is provided below. WBS ID Description 1.0 Landscaping 1.1 Plans 1.2 Site preparation 1.3 Sprinklers 1.4 Sidewalks and curbing 1.5 Planting Which activity would it be logical to add to the approved high-level WBS to provide more detail on the work to be accomplished?

1.5.1 Lay sod

The project team is determining the duration for upgrading the software on the app used on its mobile devices. An experienced technician took 10 minutes to complete the task. Two other new technicians will be assisting and have little experience in software upgrades on mobile devices or desktop and laptop computers. One technician took approximately 28 minutes, while the other technician took 31 minutes to complete the task. Using three-point estimation, how many minutes will it take for each upgrade performed?

25

The project team is determining the duration for upgrading the software on the app used on its mobile devices. An experienced technician took 15 minutes to complete the task. Two other new technicians will be assisting. They have performed a few upgrades on mobile devices, desktop computers, and laptop computers, which took one technician approximately 25 minutes and the other 20 minutes to upgrade. Using three-point estimating, how many minutes will it take for each upgrade performed?

25

Each project team member generated a series of questions to evaluate three projects. A checklist was then compiled into one list based on the frequency of question content, such as personnel, materials, experience, and time. What is a disadvantage of using this checklist approach?

Biases have not been eliminated.

What are the three categories of risk in the project risk register?

External, technical, or organizational

Which advantage does the functional (departmentalized) organizational structure provide for a firm with multiple projects?

Lines of authority are clear.