STUDY STUDY project management all of the items.
What is the best way for a project manager to address what the team could have done better during project execution? "Our stakeholders are unhappy with the final outcome so we need to fix the problem and make sure it does not happen again." "The team did a great job. Are there things we might do differently next time?" "I know the sponsor was demanding and some of this was beyond our control, but we still have a responsibility to make sure things like this never happen again."
"The team did a great job. Are there things we might do differently next time?
The ___________ assigns 0 percent to activities that have not been started and those that are in progress and completed activities are assigned 100%.
0-100 rule
According to the _________________ a project manager should avoid controlling tasks that take less than eight hours and should not let more than two weeks go by without checking in.
8 and 80 rule
Which of the following recommends that no task included in the WBS require less than one day or more than two weeks to complete? Deliverables 8/80 rule Project baseline Project budget
8/80 rule
What is the definition of "phase-gate"? A project with a deliverable Lessons learned A decision point between phases of iteration
A decision point between phases of iteration
The effectiveness of results achieved from a scoring model is improved by using: A diverse group of scorers Numeric selection models An individual scorer
A diverse group of scorers
The effectiveness of results achieved from a scoring model is improved by using: Numeric selection models A diverse group of scorers An individual scorer
A diverse group of scorers
What is a project schedule network diagram? A chart of milestones defined by project requirements A sequence of serial activities A list of concurrent activities A graphic representation of recognized dependencies
A graphic representaiton of recognized dependencies
Which statement about projects, programs, and portfolios is correct? A group of programs or projects that support the same business goal makes up a portfolio. Calling an endeavor a program justifies assigning more resources. Only programs can be a part of a portfolio. Any two projects make up a program.
A group of programs or projects that support the same buisness goal makes up a portfolio.
Which situation would present the best possibility of having a learning curve? You assign your most experienced developer to a complex series of tasks, knowing that she has significant expertise. A manufacturing operation automates 80% of the line to capitalize on time efficiencies. A junior team member with little experience is assigned to QA the instructional materials that are being produced at various points in the project.
A junior team member with little experience is assigned to QA the instructional materials that are being produced at various points in the project.
The project manager's interpersonal skills, communications, excellence, and vision about the project and responsiveness to issues and challenges are all essential to building what? A PMBOK A team A business scenario Project sponsorship
A team
if project management software is being used to manage the project, cost reports can be used to determine the _________ of the project
AC
When is the Gantt chart constructed in relationship to the deliverables and requirements being broken down into activities and tasks? After Before Simultaneously
AFter
The Association for Project Management (APM) is a UK-based charter organization. The association is a registered charity with more than 21,150 individual and 550 corporate members making it the largest professional body of its kind in Europe. Formed in 1972, its membership is primarily limited to the United Kingdom.
APM
is a joint venture between the government of the United Kingdom and Capita PLC. It was formed to manage and grow a number of standards and associated certifications developed by the Cabinet Office, including ITIL (Information Technology Infrastructure Library), PRINCE2, and Managing Successful Programs (MSP). The following table lists the organizations and standards.
AXELOS Ltd
Which organization is a joint venture between the government of the United Kingdom and Capita PLC? PMI IPMA APM AXELOS Ltd
AXELOS Ltd.
Which organization oversees the PRINCE2 certification? Association for Project Management (APM) Project Management Institute (PMI) AXELOS Ltd. International Project Management Association (IPMA)
AXELOS Ltd.
You have just found out that Celeste is leaving the country to go on vacation in Peru so she will not be available to be your accountant. You have other people you can go to in order to get this work done. What would be your risk response strategy in this case? Accept Transfer Avoid Mitigate
Accept
Which of the following is a key project management motivator? Conflict resolution Achievement of business results SMART project objectives Shifting organizational priorities
Achievement of business results
________________ is important to understand what others are saying, both verbally and nonverbally and for effective project management.
Active listening
When creating reliable duration estimates, which level is the best to begin with? Activities Project Major deliverables
Activities
What is the sum of the beta formula? Activity duration Single-point estimate Standard deviation
Activity duration
Which of the following can be impacted if the person completing a project activity will be repeating the same activity later in the project? Activity durations Critical path Beta distributions One-point estimates
Activity durations
is the total dollar value of costs incurred to date. This includes work and invoices already paid as well as any expenses that have been incurred but not paid
Actual Cost
A project manager is conducting an Earned Value Analysis and needs to know the total value of costs incurred to date. Which data element is the project manager evaluating? Actual cost (AC) Budget at completion (BAC) Planned Value (PV)
Actual cost
The ____ is the total dollar value of costs incurred to date.
Actual cost
includes work and invoices already paid as well as any expenses that have been incurred but not yet invoiced or paid.
Actual cost
There are no formal standards, processes, procedures or resources to constitute a project management discipline. Standard technologies are reporting methodologies are sporadic.
Ad Hoc Level 1
What is an example of project scope creep? Continually using change management procedures Having an incomplete project scope Adding functionality without considering impacts
Adding functionality without considering impacts
An organization's project management maturity level is determined by what?
Adherence to standards or guidelines set by recognized professional organizations.
____________ activities that occur during the project closing phase include preparation of performance reports, return of assets to the sponsoring organizations, archival of records, and documentation of lessons learned. Customer delivery activities Procurement Administrative Project justification
Administrative
When it is determined that a project will not be in alignment with company strategic goals, what is the best course of action?
Advise top management and seek direction from them
Which of the following is intended to help future project teams by discussing lessons learned? After action review Baseline project scope Requirements traceability matrix Risk register
After action review
What is the best description of a stakeholder? Anyone who is involved with the project from inside or outside of the organization who is either a user or contributor to the project and the organization A person from outside of the company who is interested in investing The C-level executives of the company who allocate resources The project manager's boss
Anyone who is involved with the project from inside or outside of the organization who is either a user or contributor to the project and the organization.
Which of the following is often used as the project transitions from the defining to the planning phase and it requires that an overall project cost be provided based on the customer's budget or similar projects? Bottom-up estimation method Apportion method Ratio method Project plans
Apportion method
Which question is answered by Earned Value Management? Are budget changes needed to complete the project as scheduled? Does the project scope seem feasible given the budgetary limitations? Is the quality of the project being monitored on a regular basis?
Are budget changes needed to complete the project as scheduled?
Which is a specific example of monitoring? Assessing whether the project plan is being implemented as designed Terminating a project because its outcomes are no longer needed Expanding a project's scope due to perceived needed functionalities.
Assessing whether the project plan is being implemented as designed
Which factors determine whether a project can be performed serially or concurrently? (Choose all that apply.) Availability of skills and resources Dependencies of the activities Label nodes Correct tools
Availability of sills and resources Dependencies of the activities
As a project manager, which strategy for responding to risks should be your first consideration, keeping in mind it is usually also the most expensive? Transfer the responsibility. Avoid risk. Mitigate the problem. Accept risk.
Avoid risk
A project manager has low to moderate influence in a ______ structure.
Balanced Matrix
Which of the following establishes the expected scope, the expected cost, and the expected schedule for a project so you can tell when you deviate from it? Cost of business Scrum Project budget Project baseline
Baselines
Which estimation method was developed as the project evaluation and review technique (PERT) to support the U.S. Navy's Polaris missile project? Beta distribution estimation method Project maturity model Configuration Management Plan Triangular distribution estimation method
Beta distribution estimation method
Which of the following estimation methods was developed as the project evaluation and review technique (PERT) to support the U.S. Navy's Polaris missile project? Configuration management plan Beta distribution estimation method Triangular distribution estimation method Project maturity model
Beta distribution estimation method
Which cost estimating method is keyed to the WBS? Baseline budget Top-down Bottom-up
Bottom up
Which estimating method experiences more problems with padding? Ratio and apportion Top-down Bottom-up
Bottom up
is the approved total baseline budget approved for the completed project
Budget at Completion
From the following list, select the item that is an example of a product that a project creates. Hiring temporary staff Buildings Teaching employees Delivering merchandise
Buildings
The answers and contains information about past, present, and future outcomes.
Business Scenarios
What is an example of a product specific deliverable? Hiring Budget Status meetings Business plan
Business plan
A _____________ represents an important business need or issue and provides an opportunity for others to create an appropriate, valuable solution. Business scenario Project sponsor Project objective Project charter
Business scenario
Anita, a project manager, determines that her project team is accomplishing more work at a cost less than anticipated. What did Anita calculate to determine this good news? CPI SV BAC
CPI
The __________ is an index that is used to calculate the Estimate to Completion.
CPI cost performance index
What is the difference between a calendarized budget and a simple budget? One is for fiscal reporting and the other is for calendar year reporting. Calendarized budgets show timing of expenditures. Simple budgets include indirect costs.
Calendarized budgets show timing expenditures
For a project selection model to be considered ____________ it must be able to integrate the relevant factors of the evaluation including: time, risk, cost, and the internal as well as external environments. Capable Realistic Flexible
Capable
____________ use a series of questions to evaluate each potential project and then the answers to the questions would be compared to determine whether a project is accepted or rejected. Checklist project selection models Numeric project selection models Profit/Profitability project selection models
Checklist project selection models
____________ use a series of questions to evaluate each potential project and then the answers to the questions would be compared to determine whether a project is accepted or rejected. Profit/Profitability project selection models Non-numeric project selection models Checklist project selection models
Checklist project selection models
During which phase does scope verification occur? Closing Executing Planning Defining
Closing
What activities happpen in this phase? occurs when the project is completed to the customers satisfaction. it signifies that the project deliverables have been delivered. includes the launch, review, and transfer of lessons learned.
Closing
this phase: project outcomes are delivered to the customer deliverables are ready, the budget and time requirements are met, quality is achieved, and lessons learned are documented.
Closing phase
Which of the following teams may allow the five team-building stages to progress more quickly and smoothly since team members have frequent interaction? Virtual Adjourning Co-located Closed-circuit television
Co-located
Which type of team makes face-to-face meetings easy at almost any time as it may only require a walk down a hallway to a conference room? Co-located Virtual Closed-circuit television Adjourning
Co-located
The project team is a virtual team and weekly meetings are scheduled. What are the goals of the status meeting? Collect individual status information, identify issues, and gain what is needed to inform the customer. Identify what has to be done to stay on plan, and ensure the team is working independently and together as needed. Use the meeting to motivate the team by having a social event, and then give the team a platform to complain. Collect individual status information, identify issues, and gain what is needed to inform the customer. Spend time with the team on how they would like it presented so that the team will look good. Collect information from each team member and congratulate them on staying alive.
Collect individual status information, identify issues, and gain what is needed to inform the customer. Identify what has to be done to stay on plan, and ensure the team is working independently and together as needed.
Which of the following are causes of conflict in teams? (Choose all that apply.) Combining people of different skills and backgrounds Asking people to work on the tasks needed without giving them the whole picture Setting aggressive deliverables and schedules Working on risk resolution through a variety of collaborative platforms
Combining people of different skills and backgrounds Asking people to work on the tasks needed without giving them the whole picture. Setting aggressive deliverables and schedules
Which characterizes the mindset of a team using extreme project management methods? Comfortable with not controlling outcomes Focused on planning Determined to avoid chaos
Comfortable with not controlling outcomes
What is a way to avoid conflict in a project? Using a team with varying skills and backgrounds Communicating with the team Requiring team members to resolve conflicts
Communicating with the team
Which of the following is the two-way process where the people involved share and respond to ideas and information via verbal, written or nonverbal means? Ethical behavior Leadership Teamwork Communication
Communication
Which of the following is the two-way process where the people involved share and respond to ideas and information via verbal, written, or nonverbal means? Communication Leadership Ethical behavior Teamwork
Communication
Includes processes to ensure timely and appropriate planning, creation, distribution, management, control, and monitoring of project information
Communication management
A(n) ____________ project selection model should be usable across a range of projects such that the outcomes of the model can be used to compare projects. Comparable Ease of use Low cost
Comparable
Projects evaluated under the ____________ model are approved based on whether implementing the project will ensure the viability of the company in the competitive market. Operating necessity Competitive necessity Sacred cow
Competitive necessity
The ____________ model evaluates projects based on whether implementing the project will ensure the viability of the company in the competitive market. Operating necessity Competitive necessity Sacred cow
Competitive necessity
Which phase of the project closeout includes the archiving of all records? Completing administrative closeout Closing all procurement activity Delivering project outcomes
Completing administrative closeout
Can be done at the same time
Concurrent
Staffing, order entry, and room design are examples of activities that can be completed at the same time because they use different resources. What is this type of activity called? Successor Predecessor Serial Concurrent
Concurrent
_________ activities are activities that can be performed simultaneously because they involve different resources.
Concurrent
What is true about contingency reserves? Contingency reserves are included in the baseline budget and the total budget presented to the customer but will not be used unless the situation occurs. In order for contingency reserves to be effective, the project team must identify areas where costs may rise and pad their estimates accordingly. The contingency reserve is only to cover things that were not anticipated.
Contingency reserves are included in the baseline budget and the total budget presented to the customer but will not be used unless the situation occurs.
Which of the following is/are not required unless, during monitoring, you detected changes that need to take place? Float time Controlling activities Measurable goals Scope creep
Controlling activities
Which of the following is an index that is used to calculate the Estimate to Completion? Actual Cost Earned Value Budget at Completion Cost Performance Index
Cost Performance Index
Includes the processes involved in planning, estimating, budgeting, managing, and controlling costs so that the project can be completed within the approved budget
Cost management
By using which of the following can you determine the actual cost of the project? Budget at Completion Cost reports Planned Value Earned Value
Cost reports
You are beginning to realize there is a lot involved in this project management stuff. Ted just smiles when you comment on this and says, "Just remember to keep track of your triple constraints. That is half the battle." What are the triple constraints Ted is talking about? Time, quality, reliability Cost, function, marketability Cost, time, scope Scope, quality, strategy
Cost time scope
Which of the following compares the difference between the EV and the AC to determine if the project is meeting its budget expectations? Schedule Variance 50-50 rule Budget at completion Cost variance
Cost variance
compares the difference between EV and the AC to determine if the project is meeting its budget expectations
Cost variance (CV)
In the project executing phase, what are major areas for monitoring? Project justification Sponsor requirements Cost, schedule, and scope
Cost, schedule, scope
What are the three triple constraints?
Cost,time, scope (budget, schedule)
What is an example of a risk that comes from an external influence? Technology availability Competition with other projects Customer expectations
Customer expectations
Immediate activites that take place in this phase are determing the projects sponsor and the project's manager Creating a project charter. The charter is a document that like a contract is agreed upon by the sponsor and key stakeholders. It defines the project and authorizes the resources, roles, responsibilites, and scope for the project. What phase?
Defining
What phase describes these actions? Clarify the size of the building Determine expected revenues Determine general project costs
Defining phase
Which phase of the project closeout is the first step to be conducted? Deliver project outcomes Close all procurement activity Complete administrative closeout
Deliver project outcomes
You are steaming along. You have identified the project requirements and deliverables. What do you need to do next? Determine the skills required to execute the project. Construct a Gantt chart to ensure tasks can be completed within the proposed schedule. Draft the project charter. Complete the scope statement.
Determine the skills required to execute the project
Which technique is used when activity durations are very predictable? Probabilistic Triangular distribution Deterministic
Deterministic
The estimation approach where an expert provides a single estimate for an activity based on either personal knowledge or historical information is called what? Deterministic duration estimation Project plan Probabilistic duration estimation Scoring model
Deterministic duration estimation
What is the estimation approach that requires that the team expert provide a reliable estimate of the time necessary to complete the activity called? Probabilistic duration estimation Deterministic duration estimation Scoring model Project plan
Deterministic duration estimation
Which of the following methods, also called the one-point estimate method, is where an expert provides a single estimate for an activity based on either personal knowledge or historical information? Deterministic duration estimation Project plan Probabilistic duration estimation Scoring model
Deterministic duration estimation
Which of the following describes the number of time periods required to finish work activities that lead to the completion of the project deliverables? Duration Beta distribution One-point estimate Learning curve
Duration
The forecast of how much more the project is expected to cost to complete is called what? SPI PCIC CPI EAC
EAC
An estimate of how much money will be needed to complete the project can be identified by using the
ETC
What is the estimate that provides an estimate of how much money will be needed to complete the project called? SPI PCIC ETC CPI
ETC
The cost variance (CV) would be calculated as __________
EV-AC
How do the phases of iteration differ from the phases of the project life cycle? The phases are not dependent upon each other. The phases are sequential. Each phase is a project with a deliverable.
Each phase is a project with a deliverable
The dollar value of all work completed to date.
Earned Value
What is the total dollar budget of the work that has been completed on a project called? Planned Value Budget at Completion Earned Value Actual Cost
Earned Value
is the dollar value of all work completed to date. This is based on the baseline budgeted cost of each activity.
Earned Value
A widely accepted method of measuring project performance and progress of actual cost against the budgeted/planned cost is called what? Earned Value Earned Value Management Actual Cost Planned Value
Earned Value Management
The assessment of _____ can be done any time during a projects execution phase.
Earned value
____________ project selection models should provide results in a reasonable amount of time which is easily understood by the decision makers. Low cost Comparable Ease of use
Ease of use
____________ project selection models should provide results in a reasonable amount of time which is easily understood by the decision makers. Low cost Ease of use Comparable
Ease of use
The _________ is the forecast of how much more the project is expected to cost to complete
Estimate at Completion (EAC)
Activities in this phase include: overseeing and managing all necessary work and assignments by members of the project team that are required over the life of the project. includes completion of the project deliverables in accordance with the approved schedule. Some challenges: unexpected changes that may present themselves in the competitive environment New organizational priorities Loss of key project resources Previously unidentified risks occuring that puts the project plans in jeopardy. What phase?
Executing
At which point of the project are you likely to need the most resources? Defining Planning Closing Executing
Executing
Monitoring and controlling goes in what phase?
Executing
Why does the planning process often require additional resources? Costs are passed down from the defining process. The quality of the project depends on it. Expert knowledge is required.
Expert knowlege is required
Which factor is most likely to increase the cost of using extreme project management methods? Evolving technologies Expertise of team members Planning processes
Expertise of team members
Which type of risks include those associated with partners or contractors, customer expectations and availability, and environmental factors? External Technical Organizational
External
Government regulation changes, economic recessions, and political unrest are examples of which source of project change? External events Contingencies Scope changes Improvement changes
External events
Which project management method addresses issues of extraordinary uncertainty or complexity where the project team must be able to collaboratively problem solve in the field to guide the project toward success? CCPM CPM Waterfall Extreme
Extreme
True or False. A cost of business includes travel expenses and technology investments necessary for the project
False
True or False. The key to creating a budget is careful and complete documentation of the assumptions that come from the project-defining phase. True False
False
True or False: Projects selected by an organization have no direct relation to the organization's strategy.
False
True or False: Projects can only result in a unique product or service that a company can sell.
False our purpose of a project is to create new, unique products or services, but a project can also be initiated to improve an existing product or service.
True or False: Organizational maturity is a reference to the age of the company.
False, Maturity has no relation to age; it is a reference to how the organization operates.
True or false. In a projectized structure, the PM has little or no formal authority, and any influence that the PM has will come from the PM's ability to negotiate with and influence others.
False, The PM has nearly total authority on all matters.
General management skills would include schedule development, PERT charts, work breakdowns, and risk management. True False
False, This is considered project manager skills
True or false. In a matrix organization, project managers have limited access to a large reservoir of technically skilled people.
False, in a matrix PM's have access to a large reservoir of technically skilled people. They are also potentially have more access to SMEs as needed and a better chance at getting the most appropriate SME for the task.
True or false. The availability of SMEs to work on multiple projects is a disadvantage of the functional organization.
False, the availabitly of SMEs to work on multiple projects is an advantage of the functional organization.
Before the project starts, your business partner insists that you need to do something to ensure that the kitchen renovations will be done before October 30. What is your best option? Backward pass Forward pass Schedule crashing Fast tracking
Fast tracking
From the following list, select the item that is not a product that a project creates. Flu vaccine Restaurant Filing documents Computer
Filing document
If an owner reviews the decor after it is purchased, the design will need to be refined with the owner's feedback. This indicates which kind of relationship with the purchasing tasks? Start-to-start Finish-to-finish Finish-to-start Start-to-finish
Finish to finish
The logical relationship where the successor task cannot be completed until the first task is completed is called what? Finish-to-start relationship Start-to-start relationship Finish-to-finish relationship Start-to-finish relationship
Finish to finish relationship
The purchase of restaurant materials, such as paint, flooring, furniture, and decorations, cannot be done until the design is approved by the owner. What kind of relationship is this an example of? Start-to-finish Finish-to-start Finish-to-finish Start-to-start
Finish to start
A project selection model is ____________ if it provides accurate measures across a reasonable range of conditions. Capable Flexible Realistic
Flexible
A project selection model is ____________ if it provides accurate measures across a reasonable range of conditions. Capable Realistic Flexible
Flexible
What are ways to access the Text Box function in Microsoft Windows? (Choose all that apply.) From the tools menu From the format menu From the task ribbon From the insert menu
From the task ribbon From the insert menu
What are advantages of the projectized organization? (Choose all that apply.) Full attention is given to stakeholder concerns. The project manager is the single source of authority to resolve conflicts. The project manager is identified as the person who attends all meetings. Delegation of project assignments is improved.
Full attention is given to stakeholder concerns The project manager is the single source of authority to resolve conflicts. Delegation of project assignments is improved.
A project manager has little to no influence in this structure.
Functional
Disadvantage: The organization does not focus on solving project business issues or utlizing resources across functions can be difficult.
Functional
SME's work in close proximity, which allows for exchanges of ideas between SME's.
Functional
The lines of authority are clar
Functional
What is the most basic form of organizational structure?
Functional
Which organizational structure is used by government entities?
Functional
The concept of ____________ tells us that in order to evaluate a project, we need to know the costs and benefits for the entire working life of the project outcome. Future net cash flows Opportunity cost Net present value
Future net cash flows
In a ____________, the key stages of a project and their duration are displayed as a bar chart, with the time scale across the top.
Gantt chart
In which of the following do the bars show when work on each activity will occur? Project charter Network diagram Resource histogram Gantt chart
Gantt chart
The rows down the left margin in a __________ display key activiites or stages of the project in sequence.
Gantt chart
You are considering which of several new vehicle development projects to approve. You have survey information that your customer base desires more fuel economy from their vehicles and that this may be the deciding factor in a new car purchase. You have also received business intelligence indicating one of your key competitors is developing a new, more fuel-efficient engine. What is the most appropriate action for you to take? Go for a big, high-powered SUV or truck. If the horsepower is high enough, no one will care about fuel economy. Go for the sportiest looking vehicle. Go for the most fuel-efficient vehicle.
Go for the most fuel-efficient vehicle
You ask Ted what types of skills he thinks are critical in a project manager role. Ted thinks for a minute, then responds, "I can think of three things right off the top of my head." What do you think are critical? (Choose all that apply.) Most popular person Great technician Conflict resolver Ability to communicate verbally and in writing Organization
Great technician Conflict resolver Ability to communicate verbally and in writing Organization
Which of the following organizes information in the WBS by deliverables and creates a picture of what activities and tasks will need to be completed for a particular project? Critical path Project justification Milestones Hierarchical format
Hierarchical format
is a pictorial representation of the resources needed at a specific time in the life of the project.
Histogram
Includes the processes that organize, manage, and lead the project team
Human resource management
The next largest project management organization is the International Project Management Association (IPMA). IPMA was the world's first project management association, founded in 1965. Currently, IPMA is composed of more than 55 Member Associations (MAs) that develop project management competencies in their geographic areas of influence. IPMA is the leading authority on competent project, program, and portfolio management (PPPM).
IPMA
Which organization is the world's leading authority in competent project, program, and portfolio management (PPPM)? PMI AXELOS Ltd. APM IPMA
IPMA
The task and activity information from the WBS assists in achieving which goal? Budgeting Identifying quality points Avoiding missing parts to project scope
Identifying quality points
How are serial activities performed? Simultaneously In a single stream of tasks In any order
In a single stream of tasks
When laying out the information for a network diagram into the Text Box function, how are task dependencies shown? Capitalization Bold print Indentation
Indentation
Once we have taken our deliverables and broken them into activities and tasks, we are in a position to validate our scope and to begin creating what? PERT charts Project budget Individual assignments Gantt charts
Individual assignments
More refined standards, processes, procedures, and resources are in place. More refined documentation exists Management support is consistent Execution is consistent there are efficiencies across all projects Metrics are in place to collect performance data
Integrated Level 4
Includes processes and activities needed to identify, define, and coordinate various processes and project management activities
Integration management
The ____________ is the rate of return which makes the cost of the project equal the future cash flows of the project. Time value of money Internal rate of return Payback period
Internal rate of return
Which organization issues competency-based certifications but does not have a standard such as the PMBOK? Association for Project Management (APM) International Project Management Association (IPMA) Project Management Institute (PMI) AXELOS Ltd.
International Project Management Association (IPMA)
In which way can conflict be an opportunity for a project? It can help to establish expectations. It can assure aggressive deliverable schedules. It can reveal something critical about the project.
It can reveal something critical about the project
What is/are the advantage(s) of a high organizational maturity level score? (Choose all that apply.) It justifies higher fees due to more paperwork required. It looks good in a project proposal to a customer. It indicates well-documented procedures across all process areas. It ensures higher quality work if all procedures are followed.
It indicated well documented procedures across all process areas. It ensures high quality work if all procedures are followed.
____________ can allow the project to move forward in phases when not enough information is known to plan the entire project. Iterative planning processes Scope management plans Procurement management plans Risk management plans
Iterative planning processes
You can use which of the following to provide a unique representation of each item on the network diagram? Label nodes Budgets Sequencing requirements WBS
Label nodes
If you use extreme project management methods, what can you anticipate? Project planning costs will be higher. Labor costs will be higher. The customer's appetite for risk will be low. Labor costs will be lower.
Labor cost will be higher
Which of the following is a challenge to effective project management? The company has a clear strategy and refuses to deviate from it. There are no consistent project management standards. Lack of clear and direct strategic alignment with the specific project. There aren't any online tools available to help in project documentation.
Lack of clear and direct strategic alignment with the specific project.
During the remodeling project of a retail store, several tasks are delayed due to the finishing of the hardwood flooring, which takes three days to become dry enough to be walked on and for other work to continue. What has been introduced to the process? Lead time Label nodes Successor activities Lag time
Lag time
If a project requires that a software test be run several times during the development of the application, the time required to run the test may decrease later in the project based on the concept of what? Work Breakdown Structures Beta distribution One-point estimates Learning curves
Learning curves
In describing a critical path, which is the only critical element? Dependencies Sequences Tools Length of time
Length of time
According to OPM3, what takes place during the fifth and final level of project management maturity?
Lessons and best practices are applied.
What is gathered and documented by the project manager during the project closing phase? Project outcomes Lessons learned Revised activities
Lessons learned
What is the purpose of doing lessons learned?
Lessons learned reviews teach current or future project mangers, teams, and others what works well and what may not work well.
At _________ of the OPM3, there are no formal standards, processes, methods, procedures, or staff constitute a project management discipline.
Level 1
At __________ of the OPM3 more refined documentation, consistent management support, consistent execution, and efficiency exist across all projects.
Level 4
Using an appropriate project selection method is important because organizations have: Employees to keep busy Shareholders to inform Unlimited resources Limited resources
Limited resources
Using an appropriate project selection method is important because organizations have: Shareholders to inform Unlimited resources Limited resources Employees to keep busy
Limited resources
The _____________ project selection model keeps the cost of gathering data and running the model low, relative to the scale of the project. Ease of use Comparable Low cost
Low cost
The _____________ project selection model keeps the cost of gathering data and running the model low, relative to the scale of the project. Low cost Comparable Ease of use
Low cost
The project baseline is critical, as it reminds us of our initial assumptions and allows us to do what when we move away from where we started? Make educated decisions Move to the project-closing phase Use iterative planning processes Prepare a budget
Make educated decisions
What are advantages of having a project management office? (Choose all that apply.) Makes sure proprietary information remains within the company Provides a place to assign people between projects Makes sure all projects implement best practices Keeps a central database of "lessons learned"
Makes sure all projects implement best practices Keeps a central database of "lessons learned"
Standards processes, procedures and resources are in plas as organizational standards. formal documentation exists. management support is consistent Execution is irregularly/inconsistently applied.
Managed Level 3
What should be covered in a risk management plan? Management of people and resources PMBOK Deliverables
Management of people and resources
is an amount added to the overall project budget to cover unknown risks.
Management reserve
Disadvantage: Resource balancing between projects can lead to friction and The person with decision making power is not always clearly identified.
Matrix
In a ________ organization, admin personnel are not duplicated in each project team.
Matrix
In which type of organizational structure does the project manager and the functional manager "share" authority?
Matrix
Resource balancing between projects is simpler and more efficient
Matrix
The PM has a better chance to get the most appropriate SME
Matrix
In addition to identifying responsibilities, the roles and responsibility matrix is an aid in identifying activities that do what? Are high priority May not have adequate personnel assigned Are low priority May have been forgotten
May not have adequate personnel assigned
In addition to people resource management, timing, and funding, what is another component that needs to be covered in a risk management plan? Practice standards Work Breakdown Schedules PMBOK® Methods and procedures
Methods and procedures
Which tasks of estimating project costs can be equated to checking budget performance and making corresponding adjustments? Monitoring and controlling General and administrative costs Ratio and apportion methods
Monitoring and controlling
Using the team's last prior weekly report and the customer meeting information from last month, the project manager compares project performance to schedule and financial performance for the project. Product and contract issues and discussions are also held at this time.
Monthly customer meeting
You are managing a project to design and develop a new type of solar battery for a SMARTcar program. A key stakeholder has just called to tell you that the deadline for completion of the project must be moved forward by 30 days in order to be able to introduce the new prototype at an important industry convention. The company president has warned the team that costs must stay within budget. Which of the following is your best course of action? Move some functions to a future phase. Prepare the team to start working overtime. Add resources. Tell the stakeholder the new deadline is impossible to meet.
Move some functions to a future phase
Completion date of last activity is later than project required completion date
Negative float
Which of the following is an important project management skill as it is the art of two or more parties reaching an agreement on their differences without litigation or physical conflict? Teamwork Communication Negotiation Leadership
Negotiation
____________ is a financial measure of the total future benefits of a project minus the cost of the project. Future net cash flows Opportunity cost Net present value
Net present value
____________ is a financial measure of the total future benefits of a project minus the costs of the project. Future net cash flows Opportunity cost Net present value
Net present value
What is a graphic representation for how a project will proceed? WBS Label node Network diagram
Network diagram
Which of the following is a graphic representation for how a project proceeds? WBS Deliverables Budget Network diagram
Network diagram
___________ project selection models use selection criteria that are not limited to traditional numeric performance measures such as ROI, profit, and revenue, etc. Non-numeric Profit/Profitability Scoring
Non-numeric
____________ project selection models use selection criteria that are not limited to traditional numeric performance measures such as ROI, profit, and revenue, etc. Profit/Profitability Scoring Non-numeric
Non-numeric
What is an example of a type of non-numeric model for selection criteria? Return on investment Operating necessity Revenue
Operating necessity
Manufacturing the same product every day or a retail store being open for business or a bus transportation service is an example of what?
Operation
Project or Operation The pharmaceutical company successfully develops the new vaccine and begins to manufacture and distribute it. There is no predetermined date to discontinue the manufacture and distribution of the vaccine. Medical healthcare facilities provide this vaccine to patients. There is no expectation to discontinue use of the vaccine as long as it remains effective.
Operation
Project or operation Bicycles are constructed on assembly lines.
Operation
Project or operation The toy manufacturer begins manufacture of the new toy. There is no specified date to end manufacture. Retail stores will sell the toy with no last date available for sales specified.
Operation
Are these examples of operations or projects? An automobile manufacturer produces automobiles An airline company provides transportation services for passengers A freight company moves products from one point to another
Operations
Project or Operations teaching the course getting work done by the mechanic delivering your meal
Operations
____________ are the on-going, daily activities of an organization that produces revenue and expense. Project charters PMBOKs Operations Projects
Operations
the ongoing, day to day activities that a company or entity engages in.no specific start date or end date. ongoing, daily activities that produce revenue and exposure
Operations
In the WBS that has been developed for the restaurant project throughout the module, which segment of the business plan has these three activities: design procedures, create training guide, and write job descriptions? Human resources plan Operations plan Marketing and communication Financial plan
Operations plan
Which of the following is a method of prioritizing risk by determining probability and severity? P*S score Project charter Portfolio Project phases
P*S score
the project manager and the customer have determined that the baseline budget is not sufficient so an increased budget has been approved. The percent complete should now be calculated using ____
PCIC
measures the percent complete based on the new Estimate at Completion (EAC).
PCIC the percent complete index
You are trying to figure out how best to determine estimated activity durations for several tasks. Which project management method could you use? Command and control PERT Waterfall Critical chain project management (CCPM)
PERT
You and the team have identified all the deliverables, activities, and tasks for the next phase of the restaurant. You know the dependencies and sequences of tasks and have a good estimate of the time each task will take. You are pretty sure about how tasks will be done in parallel or serial paths, and you have a reliable estimate of time for each path. What is a good tool for visually showing these dependencies and controlling a project? Crash analysis PERT chart Critical path diagram Gantt chart
PERT chart Critical path diagram
Because you want to be able to coordinate your project activities the __________ is the best standard to use for your restaurant project.
PMBOK
What is a standard that identifies the best practices in project management? PMBOK PERT CPM PRINCE2
PMBOK
Which organization includes standards for Organizational Project Management Maturity (OPM3)? AXELOS Ltd. APM IPMA PMI
PMI
With more than 400,000 members, the Project Management Institute (PMI) is the largest in the world. Founded in 1969, it is headquartered in Newton, PA, and has member chapters on every continent (except Antarctica). PMI publishes two types of standards: foundational and practice. The foundational standards provide frameworks and processes in the areas of project, program, and portfolio management and the Organizational Project Management Maturity (OPM3). The practice standards focus on specific knowledge areas or topics such as risk management, scheduling, and estimating.
PMI project management institue
____________ calculates the amount of time required to earn back the cost of doing the project. Payback period Internal rate of return Time value of money
Payback period
____________ calculates the amount of time required to earn back the cost of doing the project. Time value of money Payback period Internal rate of return
Payback period
In which team development stage is the team conducting work and making progress on the project? Performing Storming Norming Forming
Peforming
Which of the following team development stages is where team member have reached the point of working together comfortably? Storming Norming Performing Forming
Performing
Who is the best party to estimate the time that a task will take? Stakeholder Person completing the task Project manager Human resources manager
Person completing the task
Defining Planning Executing Closing
Phases of the project life cycle
Standards, processes, procedures, and resources exist in the organization but are not an orgnizational standard. Basic documentation exist. Managment support is inconsistent.
Planned Level 2
is the dollar value of all work scheduled to have been completed. This is based on the baseline schedule and the calendarized baseline budge.
Planned Value
Activities in this phase include a lot of efforts Technology Business process Staffing Training Testing Communications Budget constraints Integration of the project with operations and other other projects. What phase?
Planning
Based on the project expertise and effort required to develop bottom-up estimates, they are normally developed during which phase of a project? Defining Closing Execution Planning
Planning
The WBS is the secret weapon that begins to bring clarity for the team and organization for completing which phase of the project? Executing Planning Defining Closing
Planning
What creates a baseline for measuring progress as well as a road map for determining how to get the job done? Budgeting Negotiation Resource leveling Planning
Planning
Which of the following creates a baseline for measuring progress as well as a roadmap for determining how to get the job done? Negotiation Resource leveling Planning Budgeting
Planning
What phase describes these actions? Identify work activites/tasks Draft architectural blueprints Estimate materals and labor costs
Planning phase
A _________ is a group of activities that support company strategies.
Portfolio
A ____________ is a group of related programs which support a long term company goal or objective. Project charters Portfolio Program Project
Portfolio
is a group of related programs that support a long-term company goal or objective. The projects in a portfolio may individually address separate initiatives within the organization but collectively move the organization toward meeting a long-term goal or objective
Portfolio
Definition. Led by the business, business goal alignment, Business value alighnment, program selection, Optimization
Portfolio management
What needs to be completed before this work is started
Predecessor
A project manager asks the question "what went wrong" during a lessons learned review. What is most likely the project manager's objective? Assigning blame accurately Ensuring error documentation Preventing future project mistakes Motivating project team members
Preventing future project mistakes
What is an example of measurable goals? Business case Project justification Sponsor requirements Price point
Price point
Which of the following approaches use basic statistics to account for uncertainty in activity duration estimates? Project plan Deterministic duration estimation Probabilistic duration estimation Scoring model
Probabilistic duration estimation
Which of the following estimation approaches are used when there is uncertainty in how long an activity will take? Project plan Probabilistic duration estimation Scoring model Deterministic duration estimation
Probabilistic duration estimation
Which two scores on the risk register are multiplied together as a means of assessing risks according to priority? Severity/Impact Probability/Severity Severity/Risk Threshold
Probability/Severity
Includes the processes necessary to acquire products, services, or results needed from outside the project team
Procurement management
What are characteristics of a task? (Choose all that apply.) Allows for micromanagement of team members by the project manager Produces a useful piece of a deliverable Is further subdivided and assigned to different team members Can be completed in a realistic time frame
Produces a useful piece of a deliverable Can be completed in a realistic time frame
What describes the physical aspects of your restaurant, such as the size of the kitchen, the equipment you will use, and the number of tables and chairs? Product scope Project charter Project requirement Project scope
Product scope
Which of the following is the portion of the scope statement that defines the features and functions of the project outcome or deliverables? Project plan Resource histogram Project sponsor Product scope
Product scope
___________________ for project management were developed as a way to capture, codify, and allow for the systematic growth of the knowledge base of the practitioners.
Professional standards
Which of the following creates the perception of your appearance, behaviors, and actions as a project team member and influences how others act toward you? Ethical behavior Professionalism Communication Decisiveness
Professionalism
____________ measure the financial returns of the project and include: payback period, net present value, and internal rate of return as possible measure. Non-numeric project selection models Profit/Profitability-based Checklist project selection models
Profit/Profitability-based
____________ models measure the financial returns of the project and include: payback period, net present value, and internal rate of return as part of the measurement. Checklist project selection Profit/Profitability-based Non-numeric project selection
Profit/Profitability-based
is a group of related projects.
Program
sponsored by the business ownership of benefits Encompases multiple projects Alignment of protocols with overall program benefits Compliance with project management standands
Program management
A ____________ is an activity or group of activities to generate a new, unique product, service, or results to support a program. Project Portfolio Project charter PMI
Project
Is this an operation example or Project An automobile manufacturer developing a new passenger car or options to stay competitive and meet market demand. An airline company partnering with an aircraft manufacturer to develop a new passenger craft. A freight company designing a computer program to optimize the amount of cargo in a given trailer volume to ensure more resources. A construction company building a new facility for a customer. Technologists instituting new systems and procedures to provide better customer service or reduce costs to their customer.
Project
Operation or Project An insurance company improving its claims processing procedure to improve customer satisfaction and reduce costs. A small company refining training and procedures for their employees to make them more productive and provide improved customer service.
Project
Project or Operation: A pharmaceutical company determines that there is a market and a need for a new vaccine to protect people from pneumonia. The company decides on a start date and a desired completion date.
Project
Project or operation A toy manufacturer begins a project to develop a new toy to be introduced by the Christmas season. There is a known date by which manufacture must begin
Project
Project or operation: An automobile manufacturer determines they need to develop a new passenger car to remain competitive. They determine a start date to enable production for the new model year introduction. This determines the project start date, based on past experience.
Project
is a tempory endeavor with a specific start and end date.
Project
is an activity or group of activities that generate a new, unique product, service, or result to support a program. However, it is possible that not all projects will be part of a larger program. There could, for example, be a project to develop a new battery that is more adaptable to more extreme temperature conditions. The product of this project could be applicable to all existing automobiles and not strictly a single program.
Project
Delivery of product/service Scope, cost, schedule Responsible for quality of deliverables
Project Management
You ask Ted how many certifications he has in project management, and he tells you he has a PMP, a CAPM, and a PgMP. From which organization did Ted get these certifications? Project Management Institute (PMI) International Project Management Association (IPMA) Association for Project Management (APM) AXELOS Ltd. (Joint Venture between HM Cabinet Office and Capita PLC)
Project Management Institue (PMI)
Which certification has the largest number of practitioners registered globally? Certified Associate in Project Management (CAPM) APM Body of Knowledge Project Management Professional (PMP) PRINCE2
Project Management Professional (PMP)
Which organization would you go to if you wanted to become a certified PMP? Association for Project Management (APM) International Project Management Association (IPMA) Project Management Institute (PMI) AXELOS Ltd.
Project Managment Institute (PMI)
The purpose of which of the following is to authorize the project and serve as a contract document showing agreement by the key stakeholders? Triple constraints Project charter Stakeholder management plans Project scope
Project charter
Which of the following formally indicates that a project has been completed and that a customer is satisfied with the project deliverables? Project closeout document Corrective action document Vendor-closing checklist After action review analysis
Project closeout document
Which of the following is a verifiable outcome of work activities or the overall project? Milestone Critical path Project deliverable Requirements Traceability Matrix
Project deliverable
Meeting the triple constraints is often used as determinants of project success. Which other factors may be useful in determining if the project was successful?
Project is in line with corporate goals
____________is the act of running a project and encompasses the use of general management or specific project management knowledge, skills, tools, and techniques to ensure that the project meets its goals.
Project management
Common examples of which of the following include budgets, status reports, status meetings, and personnel management tasks? Milestone Project management deliverables Project scope Critical path
Project management deliverables
Every ____________ should be aware of the impact of project management challenges and anticipate how to avoid them in order to ensure the success of their projects. PMBOK Project charter Project Manager Customer
Project manager
Who manages the varying interests of stakeholders? Stockholders Senior management Project manager Advisory board
Project manager
Which of the following is a characteristic, function, or capability that must be present in the project's final outcome? Critical path Project requirement Requirements Traceability Matrix Milestone
Project requirement
Which of the following is a timeline that specifies when the project begins and when it is supposed to end? Configuration management plan Change management plan Process Improvement plan Project schedule
Project schedule
When a company has many project proposals from which to choose, ____________ involves both evaluating and prioritizing the project proposals. Opportunity cost Project selection Time value of money Payback period
Project selection
Which of the following are the concrete things you need to provide to the customer in order for the project to be complete? Project tasks Work Breakdown Structure Project-specific deliverables Project activities
Project specific deliverables
Which of the following are the concrete things you need to provide to the customer in order for the project to be complete? Tasks Work Breakdown Structure Activities Project-specific deliverables
Project specific deliverables
What is the definition of schedule compression? Functionality reduction Resource reduction Project timeline reduction
Project timeline reduction
What does a project baseline help to establish? Project cost Project schedule Project scope Projected scope, schedule, and cost
Projected scope, schedule, and cost
Disadvantage: Team members may lose access to a repository of functional or technical expertise. The PM must have enough work to keep SME's busy full time or risk the loss to another project or function.
Projectized
In which organizational structure does the project manager have the most authority?
Projectized
The project managers have FULL authority over SMEs
Projectized
The response to customer and stakholder issues is faster and clearer
Projectized
A project manager has high influence in this structure.
Projectized.
____________ are temporary endeavors with a specified start and end date that exist to develop a unique product, service, or result.
Projects
Which statement is correct? Projects and programs must support business strategy A portfolio is all the projects that a company is working on regardless of their being related If a company has more than one project, then it must have a program or a portfolio. There is no difference between a project and a program. They are different terms for the same activity.
Projects and programs must support business strategy
What does a formal acceptance of a project's deliverables do? (Choose all that apply.) Precludes the customer from ever taking action if something goes wrong. Provides a final opportunity to review all project documents before acceptance of the product of the project. Signals the end of the project life cycle. Indicates that the customer or sponsor have accepted the deliverables.
Provides a final opportunity to review all project documents before acceptance of the product Signals end of the project Indicates that the customer or sponsor have accepted the deliverables
You have found a vendor who will provide meats to your restaurant. He is local and only needs four hours notice to provide the best steaks possible at the best prices. Which of the triple constraints items are affected? (Pick all that apply.) Quality Function/Scope Schedule/Ordering Lead Time Schedule/Preparation/Cooking Time Budget/Cost
Quality Schedule/Ordering Lead Time Budget/Cost
Which of the following is a review of project performance conducted by experts outside of the project team? Earned Value Analysis Risk register analysis Quality audit Calendarized budgeting
Quality audit
Includes processes and activities that determine quality policies, objectives, and responsibilities
Quality management
What are the three key components of project quality? Quality assurance, quality control, and quality audits Quality control, quality management, and quality standards Quality management, quality assurance, and quality control Quality management, quality assurance, and quality standards
Quality management, quality assurance, and quality control
Serge and the architect estimate that the renovation of the restaurant space will cost $380/sq ft. What is this an example of? Work activity aggregate estimating Ratio estimating Apportion estimating Parametric estimating
Ratio estimating
Which of the following uses experience from prior projects to estimate the overall cost of the current project? Project objective Project charter Ratio method Business scenario
Ratio method
A project selection model is said to be ____________ when it accurately reflects the decision making context of the company including its capabilities and limitations. Capable Flexible Realistic
Realistic
A project selection model is said to be ____________ when it accurately reflects the decision making context of the company including its capabilities and limitations. Flexible Capable Realistic
Realistic
What does the project manager need to do during project closeout? (Choose all that apply.) Reassign project resources back to the company Verify that the completed project is transitioned over to the customer Create downstream communication plans Document the project results
Reassign project resources back to the company Verify that the completed project is transitioned over to the customer. Document the project results
Your company has just revised its long-term goals and objectives as well as its long-term strategic plans. What is the impact on an existing project? None. Proceed as planned. Reevaluate the project in view of the new long-term strategic plans. Accelerate the schedule before any directive to change the project. Finish the project. It conformed with the company's strategy at the time it was approved.
Reevaluate the project in view of the new long-term strategic plans.
The project deliverables come from the stakeholder requirements identified in which document? Statement of work Project charter Product scope Requirements Traceability Matrix
Requirements Traceability Matrix
Which of the following is a commonly used pictorial representation of resources required at specific time in the project life? WBS SOW Project baseline Resource histogram
Resource histogram
Which of the following is a commonly used pictorial representation of resources required at specific times in the project life? Statement of Work Project baseline Work Breakdown Structure Resource histogram
Resource histogram
What describes the purpose of resource leveling? Resource leveling keeps the expenses for resources even across the project life cycle. Resource leveling is the process of minimizing the variation in need of a specific resource over several time periods. Resource leveling keeps the project from going over budget.
Resource leveling is the process of minimizing the variation in need of a specific resource over several time periods.
When using schedule compression, you can generally meet the functionality desired if you add what? Resource histograms Resources Network diagrams Task relationships
Resources
In project management, we define what as any uncertainty in an event or condition that may impact the scope, schedule, cost, or quality associated with the project? Risk Risk mitigation The opportunity cost Work Breakdown Structure
Risk
Which of the following is defined as any uncertainty in an event or condition that may impact the scope, schedule, cost or quality associated with the project? Work Breakdown Structure Risk Cost opportunity Risk mitigation
Risk
is the degree of uncertainty an entity is willing to take on in anticipation of a reward.
Risk Appetite
refers to measurements along the level of uncertainty or the level of impact at which a stakeholder may have a specific interest. Below that risk threshold, the organization will accept the risk. Above that risk threshold, the organization will not tolerate the risk (PMBOK, 2015).
Risk Threshold
is the degree, amount, or volume of risk that an organization or individual will withstand.
Risk Tolerance
Which of the following is the default response strategy when the risk is low or the impact is low, and it is cheaper to deal with the risk rather than spending budget dollars circumventing it? Risk transfer Risk avoidance Risk acceptance Risk mitigation
Risk acceptance
is the degree of uncertainty an entity is willing to take on in anticipation of a reward.
Risk appetite
Identifying uncertainties as well as analyzing and prioritizing risks are all part of what? Risk assessment Risk aversion Risk appetite Risk threshold
Risk assessment
Which of the following involves identifying potential risks during the planning process and setting a path to circumvent the risk? Transfer of risk Risk avoidance Acceptance of risk Risk mitigation
Risk avoidance
Which of the following consists of measuring and mitigating risk as well as planning for emergencies? Float time Project scope Risk control Scope cree
Risk control
Includes the processes of conducting risk management planning, identification, analysis, response planning, and controlling risk on a project
Risk management
The primary objective of what is to help us make informed management plans in advance so we can minimize negative impacts or maximize opportunities associated with risk? Project plans Risk management Risk threshold Project sponsors
Risk management
is the proactive planning for risks that occur during the project management process from the time you define the project through project execution.
Risk management
Which of the following focuses on surviving the risk by deferring or reducing the impact? Risk management Risk threshold Risk mitigation Risk assessment
Risk mitigation
Which of the following focuses on surviving the risk by deferring or reducing the impact? Risk mitigation Risk threshold Risk management Risk assessment
Risk mitigation
Which of the following is the process of reviewing every aspect of the project to identify what risks may occur? Risk control Risk assessment Risk threshold Risk planning
Risk planning`
Which of the following is used to list all external, technical, or organizational risks and assigns scores for probability and severity? Project charter Project sponsor Risk register Project objective
Risk register
refers to measurements along the level of uncertainty or the level of impact at which a stakeholder may have a specific interest.
Risk threshold
Which of the following is the degree, amount, or volume of risk that an organization or individual will withstand? Risk tolerance Risk mitigation Risk threshold Risk appetite
Risk tolerance
Which response strategy is used when it is assumed that the third party has capabilities or financial resources beyond those found in the project to handle the outcomes should the risk occur? Risk mitigation Risk avoidance Risk transfer Risk acceptance
Risk transfer
Which is a characteristic of a project that is well-suited to traditional project management methods? Scope is likely to change. Project has high complexity. Resource is constrained. Risks are low and identifiable.
Risks are low and identifiable
The Schedule Variance (SV) is calculated by subtracting the Planned Value (PV) from the Earned Value (EV) using ____ formula
SV=EV-PV
What is an example of a milestone date? Safety inspection Project float Critical path
Safety inspection
What is an example of an expense that is included in the project costs? Cost of business expenses Recruiter fees Equipment which will be used after project Salaries
Salaries
The project officially launched a month ago, and the project manager is preparing for the first customer status meeting. She needs to do which of the following? Schedule a room, order food, and ensure everyone will be coming. Schedule the meeting, find a place, create an agenda, and prepare a presentation showing milestones, accomplishments, and where we are on the plan and where we are going. Ensure the customer/user is available, and find out what they want to talk about. Reduce the project plan to accomplishments and avoid talking about the difficult issues.
Schedule the meeting, find a place, create an agenda, and prepare a presentation showing milestones, accomplishments, and where we are on the plan and where we are going.
Sometimes the term quality and performance criteria is used in place of this word but means the same.
Scope
a project is successful if it meets the triple constraints of _________, schedule and budge.
Scope
Which of the following occurs when there are incremental additions to the project scope that are not subject to the formal scope change process? Float time Triple constraint Scope creep Statement of work
Scope creep
Includes the processes that ensure that all the work required is identified to complete the project successfully
Scope management
The ____________ project selection model extends the benefits of the checklist approach and uses quantitative or qualitative criteria that are answered using a scale. Opportunity cost Payback period Scoring
Scoring
What concludes the project defining phase? (Choose all that apply.) Selection of the project Creation of a work breakdown structure Brainstorming approaches for getting key stakeholders on board Creation of the project charter
Selection of the project Creation of the project charter
Which process do label nodes identify? Activities Resources Tasks Sequence
Sequence
Which of the following types of activities are performed in a single stream of tasks? Concurrent activities Successor activities Predecessor activities Serial activities
Serial activities
Which communication type is the best option when working in a widely dispersed virtual team? Point-to-point instant messaging Phone calls Email Shared threaded discussion
Shared threaded discussion
What are factors that can influence a learning curve? Amount of contact with customer Skill level required Number of SMEs on project team
Skill level required
Project managment must make certain that all project objectives are _______________, ____________________, achievable, relevant, and timely
Specific, Measurable
You need to figure out what kind of resource leveling you are going to need to do during various parts of the project. What will help you? Resource responsibility matrix KSA Stacked histogram Organizational skills
Stacked histogram
_______________is the process of communicating and interacting with stakeholders in a way that keeps them interested and focused on their involvement in the project
Stakeholder engagement
What are these types of? Senior Managment of the company Management and workers of all levels who will use the system Management and workers of all levels who will be on the project developing its deliverables. Suppliers and support groups in the org. or from the outside who will work on the project and create the resulting deliverables. Stockholders of the business Any other partners or organizations that will be involved with the end prject results.
Stakeholders
What specifically do PMBOK and PRINCE2 provide to projects? Feedback Certifications Standards
Standards
The painter does painting before the flooring is installed, but also must return after flooring installation to perform final painting touch-ups. What kind of relationship is this an example of? Start-to-finish Finish-to-start Finish-to-finish Start-to-start
Start to finish
You cannot end the first task until the second task has started in which type of relationship? Start-to-start Finish-to-start Start-to-finish Finish-to-finish
Start to finish
You need to document the actual work to be done. Which document will provide this information? Project traceability matrix Project scope statement Project charter Statement of work
Statement of work
Can only be done after this work is completed
Successor
Lessons learned and best practices are applied to continuously improve existing standards, processes, procedures, and resources. Metrics are collected and applied at the project, program, portfolio, and organizational levels. The organization is in the position to evaluate future decisions based on past perfomance in order to increase competitve performance.
Sustained Level 5
A project manager has learned that a project is currently running over budget. The project manager can determine how efficiently the project team must work for the remainder of the project in order to finish on budget by calculating __________. BAC TCPI SPI
TCPI
The _______ is a measure of how efficiently the team will need to perform for the remainder of the project in order to meet the baseline budget.
TCPI
Which of the following depend on project deliverables, project constraints, milestones, budgets, etc.? Resource histograms Task relationships Project charters Network diagrams
Task relationships
A group of people working together to reach a mutually agreed-upon goal or objective is called a what? Project sponsor Team Business scenario PMBOKs
Team
Which of the following is a disadvantage of the projectized organization? Response to customer needs is slow and difficult. The project does not have a single individual responsible for all aspects of the project. SMEs are not in daily contact with other SMEs for sharing of technical knowledge. Team members lose access to a repository of functional or technical expertise.
Team members lose access to a repository of functional or technical expertise.
_________________ reports are often updated in an online collaboration tool and published weekly.
Team status
Which of these factors contribute to uncertainty in project management? Many parts to a project Expanding project scope Government regulations Technologies
Technologies
Which is a specific example of controlling? Assessing whether the project plan is being implemented as designed Terminating a project because its outcomes are no longer needed Identifying a problem with a deliverable
Terminating a project because its outcomes are no longer needed.
What are the levels of a Work Breakdown Structure?
The WBS is done by program, project, deliverables, activities, tasks, and frequently, subtask
What is resource leveling? A method by which resources can be tracked on a day-to-day basis The act of leveling the amount of resources needed to be constant over a period of time A conflict management tool that ensures resources are being effectively utilized throughout the project life cycle The ability to replace a questionable resource asset on a team
The act of leveling the amount of resources needed to be constant over a period of time.
What is correct about a project baseline? (Choose all that apply.) The baseline document indicates what you based all your estimates on. The baseline can help determine how much, if any, float time has been used. The baseline provides a way for the project manager to assign blame when things go wrong. The baseline documents the initial project scope that was agreed to. The baseline provides a means of determining how much requested changes will cause deviation from original project plans
The baseline can help determine how much, if any float time has been used. The baseline documents the initial project scope that was agreed to. The baseline provides a means to determining how much requested changes will cause deviation from original project plans.
You are putting a project planning checklist together for the kitchen remodel. What is a potential drawback of a checklist like this? It is significantly more complex than the SOW. The checklist is only as good as the completeness of the items listed. It often includes ambiguous or unnecessary items. It is a waste of time.
The checklist is only as good as the completeness of the items listed.
What is the basis for determining the maturity level of an organizations project management processes?
The comprehensiveness of written procedures to accomplish task.
What is a project scope? The quality of a project Project assumptions The desired result for a project
The desired result for a project
When determining the organization's project management maturity level, each practice area is evaluated for adherence to accepted guidelines. If different practice areas are evaluated at different levels, then what is the overall level for the organization?
The lowest level attained of any of the levels
What is the overall organizational maturity level determined by?
The lowest maturity level of any of the processes.
One of the project manager's tools for communicating is the 8 and 80 Rule. What does the number 80 refer to in this rule? The maximum number of team members that a project manager can oversee The maximum number of hours that should go by before checking in with a team member The maximum number of hours for tasks that should not be controlled
The maximum number of hours that should go by before checking in with a team member.
This meeting includes three highlights, three lowlights, three issues, and milestones that show the project schedule performance compared to baseline, and a standard financial performance trend chart.
The montly management project review
When not enough information is available to fully plan the project, which benefits can companies gain by using iterative planning methods? Although the project cannot be cancelled, the team can take actions to get it back on track. The costs of project planning are kept in just one phase. The organization can discover more information through each subsequent phase.
The organization can discover more information through each subsequent phase.
On the risk register, the P*S score is followed by action plans to manage the risk and what else? Project charter The person responsible for managing the risk Project sponsor(s) Project objectives
The person responsible for managing the risk
identify which of the following are business scenarios. (Choose all that apply.) New battery technology has been developed. The price of oil is at a five-year high and expected to continue to rise. New technology can provide smaller batteries that can be recharged by movement of the mobile device, extending battery life. Oil prices are at a five-year high. Battery technology is improving. The price of oil is at a five-year high
The price of oil is at a five year high and expected to continue to rise. New technology can provide smaller batteries that can be recharged by movement of the mobile device, extending battery life.
Each of the following is a level in the WBS except: Programs Projects within programs The project charter Deliverables within projects
The project charter
What happens once the initiating processes are completed? The project is defined. The project outcomes are delivered. The project charter is issued. The project charter is created.
The project charter is issued
Which of the following is the strongest reason for terminating a project prior to completion? The project manager resigns from the organization. The project manager fails to order sufficient inputs. The project is no longer economically or technically feasible. The project is behind schedule due to staffing issues.
The project is no longer economically or technically feasible.
Your accountant cousin, Celeste, lives 450 miles away, so on top of having to deal with a number of different personality types, you have the added complication of having virtual team members on the project team. Ted tells you he lives by the 8 and 80 Rule for project manager communications. What are true about the 8 and 80 Rule? (Choose all that apply.) The project manager must be able to address 80% of stakeholder questions within 8 days. The project manager should prioritize the top 8 risk issues by level of importance and address these within 80 days of identification. The project manager should avoid controlling tasks of less than eight hours to avoid micromanaging. The project manager should not let more than 80 hours (or two weeks) go by without checking in.
The project manager should avoid controlling tasks of less than 8 hours to avoid micromanging The project manager should not let more than 80 hours go by without checking in.
What are valid reasons for terminating a project? (Choose all that apply.) The project no longer fits with company strategic objectives. Competitive pressures no longer require the product of the project. The project is no longer economically feasible. The project manager is "burned out."
The project no longer fits with company strategic objectives. Competitive pressures no longer require the product of the project. The project is no longer economically feasible.
What gets created during the executing process? Project scope, budget, schedule The project outcomes The Work Breakdown Structure
The project outcomes
You are nearing the end of the planning phase for your restaurant reconstruction. What will change as you move out of the planning and into the executing phase? You must revise the SOW so that it reflects each project requirements. Project deliverables should be defined in the charter. The project scope document and the project plan will not be able to be changed without going through a diligent change control process.
The project scope document and the project plan will not be able to be changed without going through a diligent change control process
In addition to the triple constraints, what other considerations may determine if the project is successful?
The requirements in the scope adequately define the projects objectives.
Which statement is true when it comes to your planning documents? Gantt charts, PERT charts, and the critical path are determined in the project charter prior to planning. Planning checklists are the only way of monitoring that activities and tasks have been addressed. It is possible to develop an accurate budget or schedule without identifying, understanding, and specifying each aspect of the project. They all need to be periodically reviewed to ensure that the plans are still valid.
They all need to be periodically reviewed to ensure that the plans are still valid.
What is correct about the PMBOK and PRINCE2 standards? They are best practices that may not apply to every project in every company in every industry. They dictate the project management processes and standards that a project manager needs to understand and adhere to. The review process is lengthy so standards may not be relevant and do not reflect the best practices of the time. They enforce systems and processes to ensure efficiencies and project safety.
They are best practices that may not apply to every project in every company in every industry.
Agile methods require continual communication and interaction with customers to manage changes. Which of the following is true about customers? They are not needed to contribute to project adjustments. They need to prepare any new deliverables generated by change requests. They are not always responsive.
They are not always responsive
Why are projects important to an organization? Select all They develop new products or services for the organization They give employees something to do They give managers something to manage They improve existing products or services for the organization
They develop new products or services for the organization They improve existing products or services for the organization
What is true of activities or tasks that can be performed concurrently? They involve different resources. They contain physical dependencies. They involve the same resources.
They involve different resources
Ted asks you what kinds of project reports you plan to use. You look at him blankly, so he proceeds to explain project reports. What are important reasons to keep project reports? (Choose all that apply.) They provide a history of the project, which can help the project manager track successes and failures. They are required by law. They are the only way to prove the project is meeting state and local guidelines. They represent an important source of evidence if there are disputes regarding project performance.
They provide a history of the project, which can help the project manager track successes and failures They represent an important source of evidence if there are disputes regarding project performance
Why are planning and executing considered iterative activities? They are critical to completing the project. They can be be performed in either order. They occur in sequence. They will occur repeatedly as problems are detected.
They will occur repeatedly as problems are detected
Which type of estimation technique includes an optimistic estimate? Single-point Deterministic Three-point
Three-Point.
Includes the processes required to manage the timely completion of the project
Time management
The concept of ____________ suggests that money is worth more to an organization now than in the future. Internal rate of return Time value of money Payback period
Time value of money
The concept of ____________ suggests that money is worth more to an organization now than in the future. Payback period Internal rate of return Time value of money
Time value of money
Which index is essentially what the CPI will need to be for the remainder of the project if the team intends to finish on budget? Estimate to Completion To Complete Performance Index Schedule Performance Index Cost Performance Index
To Complete Peformance Index
Which are reasons to have a project manager? (Choose all that apply.) To coordinate communication between and among stakeholders To have a responsible party to hold at fault for mistakes To be able to charge a customer higher fees To coordinate the efforts of various functional SMEs involved in the project
To coordinate communication between stakeholders To coordinate the efforts of various functional SMEs involved in the project
What are reasons for project management? (Choose all that apply.) To have a single point of contact for all project activities To have a person to blame if things go wrong To meet required government regulations To successfully coordinate activities between many different functions
To have a single point of contact for all project activates To successfully coordinate activities between many different functions.
Difference between finish date of last activity and project desired completion date
Total float
In looking over your project schedule, you notice that the subcontractor was able to finish the last task on the critical path three days before the estimated completion date. What are these three days called if it is part of the plan? Negative float Slack Total float Free float
Total float
Which applies to the PMO? (Choose all that apply.) Tracks "lessons learned" to be carried to new projects Forms a department to assign people of no value who cannot be dismissed from the organization Helps provide resources to projects as needed Creates a repository for all project knowledge in the organization
Tracks "Lessons learned" to be carried to new projects. Helps provide resources to projects as needed Creates a respository for all project knowledge in the organization.
Which project management method is characterized by having a linear path from project beginning to project end where sequential steps are followed? PERT Extreme Traditional Agile
Traditional
A calendarized budget distributes costs across the time periods of the project. True False
True
Companies can incur great expense during the planning processes of a project. True False
True
Direct overhead costs are costs such as work space, supervision, project administration, equipment, or other resources from the project that are shared across the work activities. True False
True
Integration control is one of the processes of monitoring and controlling. True False
True
Management reserves are costs included in the budget to cover unknown project risks. True False
True
Organizations vary significantly in how they apply the terms "product scope" and "project scope." True False
True
Schedule compression can be done after we get a look at the critical path. True False
True
T or F When projects officially end, the project manager and project team will transition to other assignments so there will not be anyone around to complete documentation or approve invoices for payment. True False
True
T or F Creating a bottom-up estimate requires people with expertise to do the work estimate of the labor, supplies, materials, equipment, and any other resources needed to complete each individual work activity.
True
The critical path identifies how long the project will take to complete. True False
True
The resource allocation histogram is a good tool to assist in generating a calendarized budget because it shows how much of each resource is required for each time period True False
True
The resource responsibility matrix includes the project activities to be completed as well as the stakeholders who are charged with completing those activities. True False
True
True or False. For health and safety reasons, the federal government is requiring an investment of $10,000 for the installation of special flooring. Neither the designer nor the chef have requested this level of flooring. You need to budget for the new flooring.
True
True or False. PERT was developed in the 1950s and uses a statistical approach to estimate the time that will be required to complete project work activities. True False
True
True or False. Project acceptance criteria, technical requirements, and project constraints are common components of project scope statements. True False
True
True or False: A Work Breakdown Structure is created to help ensure that stakeholders are satisfied that the project outcomes will be achieved and the project team understands the work that needs to be completed.
True
True or False: A project is a success if it meets the triple constraints of scope, schedule, and budget.
True
True or False: During the executing phase, the project team may need to return to the planning phase in order to make an adjustment to the budget, schedule, or scope. True False
True
True or False: In a functional organization, department managers have authority over SMEs who may be assigned to work some projects.
True
True or False: In a projectized organization, project managers have authority over SMEs who may be assigned to work some projects.
True
True or False: Project managers must not only manage people of all levels, but they must also manage costs, expectations, procurement, outside suppliers, and partners.
True
True or False: The concept of IRR is a numeric measure.
True
True or False: The concept of IRR uses time value of money.
True
True or False: The customer officially signs off on the project outcomes to accept the results during the closing phase of the project life cycle. True False
True
True or false. In a matrix organization, the person with decision-making power is not always clearly identified.
True
True or false. The functional organization is the oldest and most basic form of organization, and it is the type of organization most often represented in corporation shareholder reports and organizational reports.
True
True or false. The work breakdown structure separates project deliverables into activities and tasks to be completed in order to ensure deadlines are met and that the project is completed as expected. True False
True
Two examples of parametric estimating are the ratio and apportion methods. True False
True
The first step in the project closing phase is to: Turn the project deliverables over to the customer Prepare the project justification Close all procurement activities Complete administrative tasks to conclude the project
Turn the project deliverables over to the customer
What is a risk? Uncertainty in the business, organization, or project of an associated action that can impact the outcomes of the project Organizational instability caused by internal and external strife Political, competitive, and financial impacts that can change the outcomes of a project with no warning Changes in the business that cause concerns over the roles and responsibilities of the project personnel
Uncertainty in the buisness, organization, or project of an associated action that can impact the outcomes of the project.
An SPI value greater than 1 indicates that a project team is ________. Using time efficiently Behind schedule Meeting the budget
Using time efficiently
Which aspect of a project must be assessed during the planning process to ensure that a project is a good match for traditional project management methods? Volatility Stakeholders Team member evaluations
Volatilty
What has to be created first before a bottom-up estimate can be generated? WBS Gantt chart Project charter
WBS
You are getting ready to populate your resource reponsibility matrix. You need your _________ in order to complete this.
WBS
Which tool is commonly used for building a resource plan? Gantt chart The project charter WBS number
WBS number
What is combined to create a calendarized budget? Project scope, SOW, and WBS WBS, budget, and network diagram Ratio and apportion methods Top-down and bottom-up estimation methods
WBS, budget, and network diagram
During the meeting, each leader speaks to the status of their work. Risks and the status of any mitigation activities are discussed. Based on the discussion, the project manager assembles the team reports and updates them into one document.
Weekly internal status meeting
When using the ____________, senior management assigns a level of importance to each criterion which then assigns a value based on that level when calculating the total project score. Profit/Profitability project selection models Non-numeric project selection models Weighted factor scoring model
Weighted factor scoring model
Which of the following questions is answered by a corrective action document? What is the plan for repairing quality problems? How are quality risks being actively monitored? What are the customer's quality requirements? How are work delays affecting quality control?
What is the plan for repairing quality problems?
When does the project defining phase begin? When all aspects of the triple constraints are met When an idea for a project is identified by a company When management decides to select a project for implementation When the project charter is drafted
When an idea for a project is identified by a company
When is accepting the risk (the fourth strategy of managing risk) most commonly used? When risks are low impact. When risks can be mitigated. When risks are more critical.
When risks are low impact
When does the project planning phase end? When management decides to select a project for implementation When the project plan is approved When the first project deliverables are completed When the concept plan for an idea is initiated
When the project plan is approved
Which of the following is/are used to validate the scope of the project and helps the team to fully understand how to deliver everything in the scope? Work Breakdown Structure Deliverables Tasks Activities
Work Breakdown Structure
_______________ ensure that everyone understands what has to be delivered and who is responsible to do what when.
Work breakdown schedules
What is an example of a method used by project teams to gather information for collecting requirements? Internet searches Workshops Requirements Traceability Matrix
Workshops
Which is a task that occurs during the process of closing? Create the Work Breakdown Structure. Acquire project team members. Write the lessons learned. Create the project charter.
Write the lessons learned
In which instance would you use a bottom-up estimation method? You need to develop a calendarized budget that shows the timing of the expenditures. You want to use your contractor's experience from prior projects to estimate the overall cost of the current project. You need to allocate the overall budget estimate into subcategories. You want to develop a project proposal for the food truck you are thinking about buying.
You need to develop a calendarized budget that shows the timing of the expenditures
____________ consists of the activities, methods, tactics, etc. that will be employed to meet business goals. A business strategy The project lifecycle PMBOKs Customer retention
a business strategy
Google Drive is an example of what? Certification platform A scheduling tool A collaboration site A social networking site
a collaboration site
The project maturity model is ___________________.
a process for determing if the level of documentation and best practices is followed in project execution.
What does cost management measure? Rough costs Actual costs versus budget The baseline budget
actual costs versus budget
In examining the triple constraints for the opening of a coffee shop, which development will affect the project scope? Late winter freeze delays early spring start to construction Coffee cups have increased in price since they were selected Installation of parking lot takes an extra day due to weather Addition to building is cancelled due to unanticipated underground storage tank
addition to building is cancelled due to unanticipated underground storange tank
Which method of project management was developed for use on projects where the end product is not clearly defined in advance? Agile Traditional Extreme PRINCE2
agile
The _________ requires that an overall project cost be provided based on the customer's budget or similar projects. The overall budget is then allocated to the major work areas required in the project (design, programming, testing, documentation, and user training).
apportion method
You have been going in so many directions at once that you decide to hire an assistant project manager to help you keep track of all the project details. How should you bill this expense? as the cost of doing business as an operations cost as a project cost
as a project cost
For logistical reasons, the critical path for an art gallery's grand opening must be completed as close to the actual opening date as possible. Which would be used to calculate the latest possible start date?
backward pass
Which of the following describes when you start with the required end date of the project and fill in date estimates to determine the latest date you can start the project and finish on time? Resource reduction Backward pass Functionality reduction Forward pass
backward pass
in a ______ matrix. The PMS level of authority is low to moderate
balanced
Project costs will be monitored by comparing actual costs to the ______________. estimates baseline budget direct costs
baseline budget
Determing what went right provides _________ in the lessons learned review.
baseline from which to improve
one ________ of the iterative planning process is the fact that a project can be cancelled after any phase.
benefit
While it still uses the three duration estimates, the ____________________ places emphasis on the most likely estimate
beta distribution estimation method
Which of the following requires that estimates be made at the detailed work activity level of the WBS by functional experts with knowledge of the required/available resources to complete the activity? Parametric estimation methods Bottom-up estimation methods Apportion methods Ratio methods
bottom up estimation methods
In what way can crashing solutions challenge existing resources? By requiring build-in time By fast-tracking tasks By spreading resources too thin
by spreading resources too thin
A ____ budget distributes costs across the time periods of the project.
calendarized
A(n) ____________ project selection model should be usable across a range of projects such that the outcomes of the model can be used to compare projects. Low cost Ease of use Comparable
comparable
A project plan which involves a product with many parts and contributors is an example of ________.
complexity
Activities that can be performed simultaneously because they involve different resources are called what? Concurrent activities Successor activities Predecessor activities Serial activities
concurrent activities
Establishing expectations for the team on what they are to do, how they should communicate with each other, and what to do if there are issues is important for _____________.
conflict resolution
The project manager has identified a risk that food prices fluctuate with the weather. in order to cover the potential cost overrun, she could include the potentioal cost increse in the _____ reserve
contingency
PMO"s can help align project investment to __________________.
corporate strategy
To obtain the greatest amount of compression for the least incremental cost, project managers will often do what? Crash costs Control risk Mitigate risk Calculate the opportunity cost
crash costs
Projects are important to organizations because they provide organizations with the opportunity to:
create or improve products and services
Inspecting tasks to see if they can be made shorter is one method for reducing what? Total float Critical path Resources Functionality
critical path
decreasing ______ is possible by Inspecting tasks to see if they can be made shorter.
critical path
A negative value for the schedule variance indicates that the project is _______
currently behind schedule
The partnership of people involved in developing the project scope statement are the project manager, the project team, and the
customer
Projects have a ________ start and end date
definite
The intermediate outcomes from work activites are called ___________.
deliverables
the WBS is organized around which hierarchical format? Personnel Stakeholder history Deliverables Organization structure
deliverables
A project manager's level of authority in a matrix organization__________________.
depends on the type of matrix
the problem with using the __ estimation model is that people providing estimates can be too optimistic or too pesimitic, which results in unreliable duration estimates
deterministic
If the project team shares office space to complete their work activities, the cost of the office space will be included in the budget as a
direct project overhead cost
When closing out a project, the project manager should ____________.
document and share lessons learned
The activity durations will be integrated with the activity sequencing to become the approved schedule, so it is important that the team member doing the work has input into what? One-point estimates WBS Learning curves Duration estimates
duration estimates
__________for activity completion may be impacted if the person completing the activity will be repeating the activity later in the project.
durations
In the project scope statement, any limitations or boundaries to the project are listed as project _______
exclusions
The project deliverables and outcomes are created during the ______________ phase of the project life cycle.
executing
What is the term for tasks when they overlap despite their dependencies? Contingency planning Schedule crashing Compression Fast-tracking
fast tracking
__________ is the most common relationship between tasks
finish to start
Which team development stage is a team in when team members are meeting for the first time? Forming Norming Storming Performing
forming
A software company's release has been set for April 15. The project manager wants as much total float in the project to give ample time after development for debugging. To effectively achieve this, the critical path should be constructed using a
forward pass
What is it called when you start assigning dates based on the earliest start date, adding dates based on estimates for each task in the diagram? Resource reduction Backward pass Forward pass Functionality reduction
forward pass
Estimating the start and end dates of each task by starting from today and going forward to find out our estimated end date is called a
forward passq
Time/days that can be delayed without affecting completion date
free float
In estimating project activity for a calendarized budget, what does the acronym FTE represent? Functionable cost estimate Full-time equivalent Full-time employee
full time equivalent
A project manager has no authority in a ________ organization
functional
In a functional organization, SME's report to a _________.
functional manager
When using schedule compression, no loss of __ is the best outcome for most stakeholders
functionality
Which type of environment is characteristic of extreme project management methods? Low and identifiable risks Scope unlikely to change High stress
high stress
What are examples of resources used in project tasks? (Choose all that apply.) Humans Research Money Supplies
humans, money, supplies
Working to _________________________ is the first step to defining the critical path.
identify all the deliverables, activities, and tasks
Ally's first project management job is not going well. She is struggling to integrate the customer's change requests and has missed several deadlines. The requests that have been fulfilled are not complete and the team is frustrated by the cycle of constant change requests. All of this "back-and-forth" is time-consuming. The project charter is detailed and clearly defines the customer's requirements, and the organization is viewing the project as a priority. Which challenge is the key issue impacting this project? Lack of clearly defined triple constraints Lack of support Inadequate project management training, skills, and experience Shifting management and organizational priorities
inadequate project management training, skills, and experience
Which of the following is a common cause of problems during project execution? Inadequate resources Too much internal communication Excessive management support Lack of employee empowerment
inadequate resources
The ____________ documents how the various processes and planning areas will be kept in sync throughout the project life cycle. scope management plan integration management plan procurement management plan risk management pla
integration management plan
Which financial concept used for project selection evaluates projects in the same way that financial investments are evaluated? Internal rate of return Payback period Return on investment
internal rate of return
The planning step is __________
iterative
Recording the different point of a project where rework was required and where additional resources were added are examples of documenting ___________.
lessons learned
Key EVM measures and variances can be summarized using a __
line chart
All planning documents are _________
living documents
All planning documents need to be periodically reviewed to ensure that the contents are still valid. These documents are defined as what? Milestones Static documents Critical paths Living documents
living documents
The overall maturity level of the project management process is determined by the _____________ level of the other process areas.
lowest
The ___________ role played by a project manager focuses on leading project meetings and making sure team updates are delivered clearly.
managing
The base type of organizational structure are functional, projectized, and _________.
matrix
A project _________ part of a larger program
may be
As part of the project defining phase, customer requirements are refined into ____________ such as a product release dates, price points, and functionality. measurable goals project plans project charters project sponsors
measurable goals
What are the objectives of project management?
meeting scope, budget, and schedule
Ways of recognizing and managing risks in business include avoiding, ________ transfering, or accepting risk.
mitigating
Which type of risk management is represented by absorbing the impact of the risk and not allowing it to impact effort and cost? Accepting risk Avoiding risk Mitigating risk Transferring risk
mitigating risk
As part of the project ____________ process, the PM may need to intercede in order to correct the situation if the project is not being executed as planned. scoping monitoring and controlling closing defining
monitoring and controlling
Schedule variance (SV) measures the gap between the earned value (EV) and the planned value (PV). A ______________result indicates that the project is behind based on the baseline schedule
negative
occurs when the calculated completion date of the last project activity is later than the original targeted completion date.
negative float
Before a critical path is calculated a _ is uses to visually identify the possible paths among task in a work breakdown structure.
network diagram
The tool that shows the team and stakeholders how the project schedule will unfold is called what? Project charter Network diagram Project scope Resource histogram
network diagram
Which of the following shows the project team and stakeholders how the project schedule will unfold? Network diagram Project charter Resource histogram Project scope
network diagram
The initiating step is ____
noniteratve
project or operation A warehouse employee completes the quality report for an inbound order.
operation
project or operation Industrial robots are used at a bakery for food production
operation
project or operation Production of the new passenger car begins on schedule. The same car is produced day after day. There is no specified date when this model car will cease production
operation
The ____________ is a decision point in the iterative process that provides the opportunity for company leadership to decide if moving forward is prudent. project review meeting internal status meeting phase-gate customer meeting
phase-gate
The approval of the scope, budget, and schedule mark the end of the ____________ phase of the project life cycle.
planning
The initial scope statement is prepared as part of the defining phase. During which phase is the approved scope statement developed? Closing Planning Scope creep Executing
planning
There is another endeavor that is working on a mid-size passenger car and another developing a full-size luxury passenger car. These two endeavors, together, comprise a __________.
portfolio
What is the portion of the scope statement that defines the features and functions of the project outcome or deliverables called? Product scope Project plan Resource histogram Project sponsor
product scope
A ____________ is a group of related projects. PMI Portfolio Project charter Program
program
A ________ is an activity or group of activities that generate a new, unique product, service or result to support that progarm.
project
Project or operation chefs taste test a new recipe before sending it to the bakery for production
project
You work at an automotive manufacturer. This company has the goal of being able to supply a full family of passenger cars from small compact to large luxury. There is a huge endeavor being undertaken to design and develop an entirely new small passenger car. There are several groups of people working on different aspects of this endeavor: one group on the engine, one on the transmission, one on navigation system, and so on. Each group has its scheduled start and end dates and a definition of the unique product it will create. 13 Each of these groups is working on a _______
project
project or operation A senior technician tests a new propulsion system in a simulation lab.
project
project or operation The team drafts a plan of approach.
project
If a project is selected for implementation, then this information is written into a formal document called the ____________.
project charter
The end of the defining phase is marked by the approval of the ________________.
project charter
During the ____________ phase, the idea for the project is formalized into a project proposal and the decision on whether the project will be selected for implementation is made. project executing project defining project closing project planning
project defining
The ____________ phase involves completing the work required to achieve the project outcomes. project defining project closing project planning project executing
project executing
The ____________ phase is completed when all of the project work activities produce the promised deliverables and the project outcomes are ready to be delivered to the customer. project closing project defining project executing project planning
project executing
The ____________ phase is when the PM and the project team roll up their sleeves and complete the work activities identified in the project plan. project planning project closing project defining project executing
project executing
The Project Management Institute defines ____________ as "the application of knowledge, skills, tools and techniques to project activities." Project managers Operations PMBOKs Project management
project management
In a strong matrix, a SME's assignments come from the _________.
project manager
The _____________ is responsible and accountable for manaing the project to maximize the success of the project.
project manager
Who gathers and documents the project lessons learned? shareholders project manager team members
project manager
A ______________determines if the level of documentation and best practices are followed in a project's execution.
project maturity model
A ________ should indicate approved requirements, schedule resource plans, and budgeting requirements.
project plan
At the conclusion of the ____________ phase, the customer and the project team will have a schedule, budget, and scope that are sufficiently accurate and complete so that the work of creating the project outcomes can begin. project executing project defining project closing project planning
project planning
The level of detail documented in the ____________ phase can be aligned with project complexity and must be sufficient so stakeholders are satisfied that the project outcomes will be achieved and so the project team understands the work that needs to be completed. project planning project closing project defining project executing
project planning
Major project outcomes and deliverables, how the project will be completed, and high level estimate of the cost and completion time are included in the ____________.
project proposal
Which of the following is a characteristic, function, or capability that must be present in the project's final outcome? Project requirement Milestone Critical path Requirements Traceability Matrix
project requirement
A shortened ____________ may lead to increased labor costs to ensure that a project is completed on time. set of project milestones project schedule phase-gate project scope
project schedule
A reduction in the original ____________ can lead to lower project costs and/or a shortened project schedule. project plan project scope project sponsor project charter
project scope
The ____________ is a written statement summarizing the work that will be completed to provide a project outcome that will meet the customer's requirements. project plan project sponsor project charter project scope
project scope
Which of the following defines the product of the project and contains information such as the project objectives and project deliverables? Gantt chart project scope PERT chart cost of business
project scope
Which of the following documents the customer's expectations about when the project will be completed, how much the completed project will cost, and how project results will be measured? Project scope Scrum Project sponsor Project budget
project scope
While developing an understanding of the project overview, project justification, general objectives, risks, and constraints, who must the project team meet with to identify specific project requirements? Contractors Vendors Project sponsors Project stakeholders
project stakeholders
Choosing the reports that a project will use is closely linked with selecting the ___________.
project status meeting
In a ___________ structure, the PM has complete authority over matters from resource allocation to budget to schedule to scope trade offs.
projectized
In the ______________ organization, SMEs from different functional areas directly report to the project manager for specific projects.
projectized
The project manager always has a full time role on a project when the organizational structure being used is _________.
projectized
Timely decision making is an advantage of a __________ organization.
projectized
A ____________ documents how the quality of the project deliverables will be measured and what steps will be taken to monitor and assure that the quality meets the customer requirement. time management plan quality management plan configuration Management Plan cost management plan
quality management plan
the _________ uses experience from prior projects to estimate the overall cost of the current project.
ratio method
Building a future project plan based on a past success will __________
reduce risk
It is important that project status meetings are ____________.
regular and timely
The team has worked diligently on collecting project requirements. You need to put them into a ___________.
requirements traceability matrix
Which of the following must be identified for every activity and task in order to have the work performed? Slack time Label nodes Float time Resources
resources
Which of the following response strategies involves identifying potential risks during the planning process and setting a path to circumvent the risk? Acceptance of risk Transfer of risk Risk mitigation Risk avoidance
risk avoidance
process of reviewing every aspect of the project to identify what risk may occur is called _
risk planning
Which of the following is a chart used to list all external, technical, or organizational risks and assigns scores for probability and severity? Project charter Project objective Risk register Project sponsor
risk register
What is an example of information that might be found in a project proposal? Project charter Risks to the project Low-level estimate of the costs
risks to the project
is the term used for initial estimates in estimating project costs.
rough costs
In determining risk, what should the project manager consider? (Choose all that apply.) Safety requirements Special input from experienced stakeholders Suggestions from experienced team members Staying within the budget
safety requirements special input from experienced stakeholders suggestions from experienced members staying with in the budget
A project is successful if it meets the triple constraints of scope, ________, and budget. Schedule Initiating Closing Planning
schedule
The reduction of a project timeline to the least possible length for the least cost to the project is called what? Negative float Schedule compression Forward pass Backward pass
schedule compression
A Gantt chart is an example of a ______ tool.
scheduling
As part of monitoring and controlling, the project outcomes are compared against the ____________ to ensure that the customer's expectations will be met. project justification scope project charter project sponsor
scope
Caesar, your chef, came to you with a request for a specialized piece of equipment that was not in the original plans. What is this an example of? float a change in the critical path scope creep a milestone
scope creep
The ____________ project selection model extends the benefits of the checklist approach and uses quantitative or qualitative criteria that are answered using a scale. Payback period Opportunity cost Scoring
scoring
Can be done in a single stream of tasks
serial
Limited available resources dictates that a project is done in a single stream of tasks. What type of activity is this? Concurrent Critical Discriminatory Serial
serial
Project objectives should be ____________, measurable, attainable, relevant, and timely. Inaccessible Flexible Specific General
specific
The advantage of the __________ is that it shows each item and the total of all the items.
stacked histogram
In a ________relationship, you cannot end the first task until the second task has started.
start to finish
During the construction of a gas pipeline, as soon as the crew begins digging the trench and creates the start of the pipeline, the laying of the pipe can start. This is the process of filling the trench. What kind of relationship is this an example of? Finish-to-start Finish-to-finish Start-to-start Start-to-finish
start to start
Projects selected by an organization must be directly related to the organizations _________.
strategy
Understanding the project deliverables, project constraints, milestones, and budgets, etc., is essential for developing what? Task relationships Network diagrams Project charters Resource histograms
task relationships
Which of the following is critical for creating accurate and realistic project plans and schedules? Finish-to-start relationships Task relationships Successor activities Predecessor activities
task relationships
depend on project deliverables, project constraints, milestones, budgets, etc.
task relationships
An advanatage of the functional organization is _______________.
technical continuity exists within the organization.
EVM measures schedule and cost performance separately for a specific point in time and the value of work completed, actual cost, and budgeted cost will all be reported based on
that point in time
What is developed from the project scope and statement of work? the Work Breakdown Structure Gantt chart the project charter
the Work Breakdown Structure
What does opportunity cost mean?
the benefit that could have been realized if the money were used for another purpose
The planned value (PV) can best be described as what? The budget of work scheduled to date The value of completed work to date The total cost incurred to date The total project budget
the budget of work scheduled to date
Besides the project team and project manager, who is most important to the agile project management process? The customer Competitors Consumers
the customer
What is critical path?
the longest path look at the numbers on the chart.
A Cost Performance Index (CPI) value of less than 1.0 indicates what? The project is ahead of budget. The project is meeting budget expectations. The project is behind budget.
the project is behind budget
What does a Schedule Performance Index (SPI) value of less than 1.0 indicate? The project is behind schedule. The project is ahead of schedule. The project is meeting schedule expectations.
the project is behind schedule
Because the activity durations will be integrated with the activity sequencing to become the approved schedule, who should have primary input into the duration estimates? The team member doing the work Stakeholders The project sponsor The project manager
the team member doing the work
There are _________ basic types of organizational structures.
three
The matrix organization is often subclassified into ________ subtypes. These are _____, ____, and _________.
three, weak, balanced, strong
Why is it best for the project team to determine for themselves what will be the specific tasks to a project? In order to follow the 8/80 rule To avoid micromanagement To create a sense of ownership
to create a sense of ownership
Initial estimates of cost are most often developed using ___ estimation methods.
top down
Early cost approximations are most often developed using ____________ provided by someone at the organization who has knowledge or experience from prior projects similar to the project being considered. risk management project plans bottom-up estimation methods top-down estimation methods
top down estimation methods
Which of the following is used most often to develop early cost approximations? Project charter Bottom-up estimation methods Top-down estimation methods Beta distribution
top down estimation methods
What is more likely to be used during the defining phase of a project? Top-down methods Rough costs Bottom-up methods
top down methods
Scope, time, and budget are the __________ in project management.
triple constraints
Techniques for compressing a schedule include reducing the quality of the work. True False
true
True or false. A matrix organization has less clearly defined lines of reporting than other types of organizations.
true
As a project manager, when you come to a cliff and decide to mitigate the risk, you ________. let someone on your team jump off the cliff. walk away from the cliff. use a parachute or a hang glider for a soft landing. take all the responsibility and jump off the cliff yourself.
use a parachute or a hang glider for a soft landing
A PM has low influence in a _______ matrix.
weak
When evaluating the tasks planned in the WBS, what are possible sources of risk to look for? Risk appetite Positive opportunities Weather impacts
weather impacts
During ___________ meetings, each leader speaks to the status of their work, project risks, and explains the status of any mitigation activities.
weekly internal status
When using the ____________, senior management assigns a level of importance to each criterion which then assigns a value based on that level when calculating the total project score. Non-numeric project selection model Profit/Profitability project selection model Weighted factor scoring model
weighted factor scoring model
Which of the following is a tool for doing a WBS? Personnel management reporting Project planning software Whiteboard/sticky notes Learning management databas
whiteboards/sticky notes
Functional managers who also serve in the project manager role on a project are often called _______ project managers.
working
If the product design manager is also responsible for the overall delivery of the product, the PM is considered to be a _______ project manager.
working
