OMIS 352 Quiz 4

true

T/F Payback period is the amount of time it will take to recoup, in the form of net cash inflows, the total dollars invested in a project.

d. a Gantt chart

Which of the following items is not normally included in a project charter? a. the name of the project manager b. budget information c. stakeholder signatures d. a Gantt chart

change control system

formal, documented process that describes when and how official project documents and work may be changed

c. 20%

if estimates for total discounted benefits for a project are $120,000 and total discounted costs are $100,000, what is the estimated return on investment (ROI)? a. 20,000 b. 120,000 c. 20% d. 120%

elements of project mgmt plan

into of project description of project organized mgmt and technical processes used on project work to be done, schedule, budget info

project charter

output for initiating

1. develop the project charter 2. develop the project management plan 3. directing and managing project work 4. monitoring and controlling project work 5. performing integrated change control 6. closing the project or phase

project integration management processes (6)

inputs for project charter

project statement of work business case agreements enterprise environmental factors organizational process assets

payback period

the amount of time it will take to recoup, in the form of net cash inflows, the total dollars invested in a proect

project planning

IT planning stage: define potential projects. define project scope, benefits, and constraints

a. project controls

The _____ section of the project management plan describes how to monitor project progress and handle changes. a. project controls b. management objectives c. risk management d. technical processes

False

The introduction or overview of a project must only include a list of definitions and acronyms.

a. management systems

Which of the following are organizational process assets? Selected Answer: a. Management systems b. The organization's infrastructure c. Government standards d. Marketplace conditions

b. minimize change

Which of the following is not a suggestion for performing integrated change control? a. use good configuration management b. minimize change c. establish a formal change control system d. view project management as a process of constant communication and negotiation

d. It is always a percentage.

Which of the following is true of return on investment or ROI? a. It is always a positive number. b. The lower it is, the better. c. It is the result of adding the project costs to the profits. d. It is always a percentage.

project mgmt plan

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

configuration mgmt

ensures that the descriptions of the project's products are correct and complete

project execution tools and techniques

expert judgment, meetings, project mgmt information systems

project charter

document that formally recognizes the existence of a project's objectives and management

return on investment

(total discounted benefits - total discounted costs) / discounted costs

NPV, ROI, payback analysis

3 primary methods for determining the projected financial value of projects

impetus (whether it is a problem, opportunity, directive) time priority

3 ways to categorize projects

d. project charter

A _____ is a document that recognizes the existence of a project and provides direction on the project's objectives and management. a. directive b. risk register c. stakeholder register d. project charter

c. directive

A new government law requires an organization to report data in a new way. Which of the following categories would include a new information system project to provide this data? a. problem b. opportunity c. directive d. regulation

a. change control system

A(n) _____ is a formal, documented process that describes when and how official project documents may be modified, the people authorized to make modifications, and the paperwork required for these changes. a. change control system b. WBS c. performance report d. project charter

b. selecting projects that will take less than two years to provide payback

which of the following is not a best practice for new product development projects? a. aligning projects and resources with business strategy b. selecting projects that will take less than two years to provide payback c. focusing on customer needs in identifying projects d. assigning project managers to lead projects

a. developing the project business case

which of the following processes is not part of project integration management? a. developing the project business case b. developing the project charter c. developing the project management plan d. closing the project or phase

d. corrective action

An IT company revises its process parameters in response to complaints from vendors that products were not ready on time. This would be an example of _____. a corrective action Answers: a. cost forecasting b. a preventive action c. defect repairs d. a corrective action

True

Change requests are always made in writing

False

Corrective actions reduce the probability of negative consequences associated with project risks, while preventive actions should result in improvements in project performance.

business area analysis

IT planning stage: document key business processes that could benefit from information technology

resource allocation

IT planning stage: select information technology projects. assign resources

information technology strategy planning

IT planning stage: tie information technology strategy to mission and vision of org. identify key business areas

true

In project integration management, directing and managing project execution involves carrying out the project management plan by performing the activities included in it.

true

Interface management involves identifying and managing the points of interaction between various elements of a project.

false

Many projects fail because of unclear requirements and expectations, so starting with a payback analysis makes a lot of sense.

false

Opportunities and directives are essentially the same thing.

True

Organizational process asset updates are an important output of the closing process of a project.

false

Project integration management must occur just within the context of a particular project.

b. business area analysis

The _____ stage of information technology planning outlines business processes that are central to achieving strategic goals and helps determine which ones could most benefit from information technology. a. information technology strategy planning b. business area analysis c. resource allocation d. project planning

a. an elaborate timetable

The project schedule information section of the project management plan includes ____. a. an elaborate timetable b. a detailed budget c. a directory of staff involved in the project d. a list of key deliverables

a. configuration mgmt

___ ensures that the descriptions of the project's products are correct and complete a. configuration mgmt b. integrated change control c. integration mgmt d. a change control board

c. developing the project charter

____ involves working with stakeholders to create the document that formally authorizes a project. a. Developing the preliminary project scope statement b. Developing the project management plan c. Developing the project charter d. Performing integrated change control

a. corrective actions

_____ should result in improvements in project performance. a. Corrective actions b. Preventive actions c. Product acceptance plans d. Defect repairs

a. project charter

a ___ is a document that formally recognizes the existence of a project and provides direction on the project's objectives and mgmt? a. project charter b. contract c. business case d. project mgmt plan

SWOT analysis

analyzing strengths, weakness, opportunities, threats

baseline

approved project management plan plus approved changes

internal rate of return

finding the discount rate that makes the NPV equal to zero

methods for selecting projects

focusing on broad org needs categorizing IT projects performing NPV or other finance analyses weighted scoring model balanced scorecard

change control board

formal group of people responsible for approving or rejecting changes on a project

organizational process assets

include formal and informal plans, polices, procedures, guidelines, information systems, financial systems, mgmt systems, lessons learned, historical information

project integration management

involves coordinating all of the other project management knowledge areas throughout a project's life cycle

strategic planning

involves determining long term objectives by analyzing the strengths and weaknesses of an org, predicting future trends, and projecting the need for new products and services

interface management

involves identifying and managing the points of interaction between various elements of the project

integrated change control

involves identifying, evaluating, and managing changes through out the project life cycle

NPV

method of calculating the expected net monetary gain/loss from a project by discounting all expected future cash inflows and outflows to the present point in time higher the NPV the better

balanced scorecard

methodology that converts an org's value drivers, such as customer service, innovation, operational efficiency, and financial performance to a series of defined metrics

final product/service, organizational process assets updates

output for closing

deliverables, work performance data, project management plan updates

output for executing

change requests, project management plan updates, change log,

output for monitoring and controlling

project management plan

output for planning

mind mapping

technique that uses branches radiating from a core idea to structure thoughts and ideas (web)

need, funds, will

three important criteria for projects

d. resource allocation

what is the last step in the four stage planning process for selecting IT projects? a. IT strategy planning b. business area analysis c. mind mapping d. resource allocation

c. expert judgement

what tool and technique is used for all processes of project integration mgmt? a. project mgmt software b. templates c. expert judgement d. all of the above