Project Management Final 1-3
stakeholders
define project related requirements and expectations, PM manages exepectations
scope or quality
deliver the specific aim of the project
What is the general aim of a Business Case?
describes the reason for initiating a project
methodology provides a skeleton for
describing every step in depth so that a project manager will know what to do in order to deliver and implement the work
social
dissemination of knowledge, improved safety, cleaner environment
Which one of the below project goals supports the attributes of MOV?
each quarter during the fiscal year we will increase our customer base by 10-15%
Which of the following we did not discuss in class as business values enabled by projects
employee work environment
Which one is not an attribute of project methodology
enables career progression of project team members
close and evaluate project
ensures that all the work is completed
"Project management processes serve to define, organize, ________, and assess the work to be delivered in a project through various tools and techniques"
execute
Which of the following PLC's deliverable is the SDLC?
execute
An executive will more likely sponsor a project if it:
exhibits an MOV, which aligns with organizational strategy and goals
a project has
expected output, start and end date, limited resources
define project
focused on providing business value to the organization, provides a clear focus and drives the other phases
Why is it important to have deliverables?
good way of checking progress
intangible
goodwill, brand recognition, public benefit, reputation, strategic management
functional
grouped by functional expertise area with clearly defined supervisor
weak matrix
helps coordinate, no decision making authority
Initiating a project to develop a product in the hope that it will be the first on the market before the competition is an example for the following project initiation context:
implement or change business or technological strategies
Which one is not an advantage of forming a cross-functional business case team:
include more experienced stakeholders who have been with the company longer
Which one of the below is not an attribute of MOV?
increase revenue
financial
increased revenue, lower costs
money or resources
limited funds and resources available
execute project plan
manage triple constraint to achieve project goals, progress must be documented and communicated
project team
managers and others work on specific tasks from diverse functional and knowledge areas
project life cycle is collection of logical stages that
maps the life of a project, from beginning to end, to define build and deliver the product
MOV must be
measurable, provide value, be agreed upon, be verifiable, guide the project through its lifecycle, align with the organizations strategy and goals
matrix based
mix of functional and projectized
tangible
monetary assets, stockholder equity, utility, market share
operational
more efficient processes, more effective processes
business value
net quantifiable benefit derived from business endeavor
strategic
new markets, increased market share, changing terms of competition
customer
new products or services, better quality products, lower priced products or services
Your team undertook a project to increase efficiency in the inbound order creation. Which area will your project directly impact?
operational
Project manager
person assigned to achieve the project objectives
"If your task is to do technological feasibility, which question would help you most to start your study?"
are we able to do it and is it worth doing
organizational value
better, faster, cheaper, do more
A PLC phase is a collection of logically related:
practices, methods, processes
a methodology is a system of
practices, techniques, procedures, and rules used by those who work in a discipline
projects are composed of
processes
project quality management
processes and activities of the performing organization that determine quality policies, objectives, and responsibilities so that the project will satisfy the needs for which it was undertaken
project cost management
processes involved in planning, estimating, budgeting, and controlling costs so the project is completed within budget
project time management
processes required to accomplish timely completion of the project
project scope management
processes to ensure that the project includes all the work required and only the work required to complete the project successfully
"When a company has a collection of related projects to develop a new product, in line with existing product line is considered a:"
program
plan project
project objectives, resources, controls
Which of the following Knowledge Areas is not part of the PM objectives?
project risk management
priorities are assigned by
project sponsor or customer
project lifecycle
project work divided up into phases
Which organizational structure gives the highest level of authorities and responsibilities to project managers?
projectized
PMBOK (Project Management Body of Knowledge) Guide has been developed by the PMI (Project Management Institute) to______________
promote generally recognized practices in project management
Which one of the below statements is the best example for metric or performance target of an MOV?
sales growth increase by 5-6% by next year
Project priorities are defined by the
sponsor
You are interning with a company and your task is to do market research on a market that the organization is currently not present but plans to enter. Which area will your project directly impact?
strategic
project methodology
strategic level plan for managing and controlling the project, game plan for implementing project and product lifecycles, recommends phases, processes, tools, and techniques for supporting an IT project, must be flexible and include best practices
project management methodology
strictly defined combination of logically related practices, methods, and processes that determine how best to plan develop control and deliver a project
project management process
supports the project throughout its life to ensure effective delivery, define organize, execute, and assess the work to be delivered
A project is a __________ endeavor to create a unique product, service, or a result."
temporary
project
temporary endeavor undertaken to create a unique product service or result
What measures the project s goal?
MOV
parts of business case
MOV, cross functional team, alternatives, feasibility and risk assessment, TCO, TBO, analyze alternatives, recommendation
What supports the MOV as discussed in class and on several slides?
PM Objectives
strong matrix
PM has much more decision making responsibility but not all
balanced matrix
PM has some decision making responsibilities, helps team stay on triple constraint
which is a project? Making ice cream Selling coffee Renovating the 4th Floor
Renovating the 4th floor
portfolio
a collection of projects and programs managed as a group to achieve strategic objectives
program
a group of related projects managed to obtain benefits
processes are
a series of actions to achieve a result
deliverable
a unique verifiable product that must be created to complete a process
Stakeholders are those who are
affected by the project
Which is the following project methodologies require less specific specification during the planning phase
agile
Which of the following is not a PLC phase?
change management
Which one of the below options is not a possible alternative of an IT Project discussed in class?
change organizational strategy to save cost of IT
projectized
co located team members based on project needs, most authority for PM
The Triple Contraint includes the following three project attributes
cost, time, scope
potential impact areas
customer, strategic, financial, operational, social
time or schedule
time period in which to produce an end product or service
"Project Scope Management is defined as: Processes to ensure that the project includes all the ___1___ required, and only the ___2___ required, to complete the project successfully"
work, work
