Project Management Exam 3

Used information regarding resources from a previous similar project as the basis for estimating the future project

Analogous Estimating

A form of alternative dispute resolution is a way to resolve disputes outside the court

Arbitration

The information about assumptions and constraints and maybe be linked to specific stakeholders

Assumption Log

A documented economic feasibility study used to establish validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for the authorization of further project management activities

Business Case

A component of the project, program, or portfolio management plan that describes how, when, and by whom information about the project will be administered and disseminated.

Communications Management Plan

A written or spoken agreement, especially one concerning employment, sales, or tenancy that is intended to be enforceable by law

Contract or Agreement

Is a structured communication technique or method, originally developed as a systematic, interactive forecasting method which relies on a panel of experts?

Delphi technique

A methodology that combines scope, schedule, and resource measurement to assess project performance and progress. Also see page 261 for EV explained

Earned Value Management

The ability to identify, assess, and manager their personal emotions of oneself and other people, as well as the collective emotions of groups of people

Emotional Intelligence

A person who is within a functional organizational in an area of specialization and the project manager has limited authority to assign work and apply resources

Functional Managers

Is a diagram that shows the causes of an event and is often used in manufacturing and product development to outline the different steps in a process, demonstrate where quality control issues might arise and determine which resources are required at specific times.

Ishikawa diagram

A project management document where information about issues is recorded and monitored

Issue Log

Staying engage with the speaker and summarizing conversations to insure effective information exchange

Listening actively

Collect, project performance data, produce performance measures, and report then disseminate performance information

Monitor

Simulations are used to model the probability of different outcomes in a process that cannot easily be predicted due to the intervention of random variables.

Monte Carlo simulaiton

Is the difference between the present value of cash inflows and the present value of cash outflows over a period of time

Net present value

A graphic display of the project team members and their reporting relationships. Groups of people with shared goal who fulfill their roles with little o not time spent meeting face to face.

Organization Chart

A hierarchical representation of the project organization, which illustrates the relationship between project activities and the organization units that will perform the activities

Organizational Breakdown Structure (OBS)

Is used an algorithm or statistical relationship between historical data and other variables to calculate resource quantities need for an activity based on historical data and project parameters

Parametric Estimating

Stakeholders according to their level of authority (power), level of concern about the projects outcomes (interest) ability to influence the outcomes of the project (influence, or ability to cause changes to the projects planning or execution

Power/Interest Grids

The action of obtaining or procuring something

Procurement

Include the processes required to ensure timely and appropriate planning, collection, creation, distribution, storage and retrieval, management control monitoring and ultimately disposition of project information.

Project Communications Management

Includes the processes necessary to purchase or acquire products, services or results needed from outside the project team.

Project Procurement Management

Includes the processes to identify, acquire, and manage resources needed for the successful completion of the project.

Project Resource Management

Includes the processes of conducting risk management planning, identification, analysis response planning, resource implementation and monitoring risk on a project

Project Risk Managment

Include the processes required to identify the people, groups, or organizations that could impact or be impacted by the project to analyze stakeholder expectations and their impact on the project, and to develop appropriate management strategies for effectively engaging stakeholders in project decisions and execution.

Project Stakeholder Management

Designation of resource responsibilities for Responsibility, Accountability, Consult, Inform roles.

RACI Chart

Procurement is the process of finding and agreeing to terms, and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process

Request for Procurement or Proposal

A hierarchical representation of resources by category and type

Resource Breakdown Structure

The processes of defining how to estimate, acquire, manage and utilize physical and team resources

Resource Management Plan

A bar chart showing the amount of time that a resource is schedule to wok over a series of time periods

Resource histogram

Is a performance measure used to evaluate the efficiency of an investment or compare the efficiency of several different investments?

Return on Investment

A project management document where information about risks are recorded and monitored

Risk Log

It is the process of developing options and actions to enhance opportunities and reduce threats to project objectives

Risk mitigation

Describes classes of stakeholders based on assessment of their power (level of authority or ability to influence the outcome of a project), urgency (need for immediate attention, either time constrained or relating to stakeholders' high stake in the outcome, and legitimacy

Salience Model

A person or group who provides resources and support for the project, program, or portfolio and is accountable for enabling success.

Sponsor

An individual or group or organization that may be affected, be affected by or perceive itself to be affected by a decision, activity or outcome of a project, program or portfolio.

Stakeholder

Is a document routinely employed in the field of project management which defines project-specific activities, deliverables and timelines for a vendor providing services to the client?

Statement of Work

A periodic project manager report indicating the status of the project, usually addressing at least schedule scope, and cost status

Status report / Progress report

The general movement of a project over time showing the statistically detectable change

Trend report

You are working on a very critical and strategic project to develop a robust dynamic website, which will be available to approximate five million users your company has around the globe. You decide to survey the experts within your organization on any foreseeable risk with the design, structure, and intent of the website with an anonymous simple form. You later send out subsequent anonymous surveys to a group of experts with the collected information. This is an example of: a. A Delphi technique b. Identify Risk process c. Nominal group technique d. SWOT analyses

a. A Delphi technique

While working on a data mining project you realized that negotiations is essential to develop a good understanding and relationship with the seller as well as to obtain a fair reasonable price for the product, service and result. During which procurement process will procurement negotiation occur the most a. Conduct procurement b. Plan Procurement management c. 'control Procurements d. Close procurements

a. Conduct procurement

Project success is heavily dependent on the leadership and management style of the project manager. Even though we do not usually distinguish between leading and managing. It is generally believed that there is a difference between these two. Which of the following is typically considered to be responsivity associated with managing? a. Consistently producing key results expected by stakeholders b. Establish direction, mission and vision c. Aligning team member to the established direction Motivating and inspiring

a. Consistently producing key results expected by stakeholders

The project team members abilities or competencies, communication capability, relevant knowledge experience, cost for adding the team member, attitude or ability to work with others availability and other factors such as time zone and geographical location are some examples of selection criteria that can be used to rate and score the team members. Which one of the following looks at all these selection criteria while acquiring a team ember for the project? a. Decision making (multicriterial decision analysis) b. Monte Carlo analysis c. Team performance assessment Project performance appraisal

a. Decision making (multicriterial decision analysis)

You are asked by management to select a contract type that will obligate the seller to accept all liability for poor workmanship, engineering error, and consequential damages in the project. Which of the following contract types will you select? a. Fixed price b. Time and material c. Cost plus incentive fee d. Purchase order

a. Fixed price

You have identified several problems along with their causes in you web based application development project. Which one of the following have you probably used to show the problem and its causes and effects? a. Ishikawa diagram b. System flow diagram c. Process diagram Histogram

a. Ishikawa diagram

You are in the Plan Resource Management process of identifying and documenting project roles, responsibilities, required skill competencies, reporting, structure and other items. Which of the following Hierarchical Type chart can help you track project cost as it ties to the organizations accounting system? a. Resource Breakdown structure b. Organizational Breakdown Structure c. Responsibility Assignment Matrix Position description

a. Resource Breakdown structure

Steve is trying to figure out whether a stakeholder is an "unaware" state or not so that he can identify required actions and communications needed to minimize the gap between the desired and actual level of engagement of this stakeholder. Which of the following is a tool to assess the current and desired state of engagement of a stakeholder on the project? a. Stakeholder Engagement Assessment Matrix b. Issue log c. Stakeholder register d. Stakeholder engagement plan

a. Stakeholder Engagement Assessment Matrix

A project manager is overseeing a complex custom computer solution that has rigorous quality standards and tight schedule constraints. The project manager just found out that one of the key deliverables in the project was not completed because the team member responsible for it was assigned another higher priority project by her functional manager. Who will be the person for the project manager to address the issues within this situation? a. The sponsor a. The president of the company b. The customers The team

a. The sponsor

You have been managing a multiyear construction project for four of your most important clients. You requested you lead business analyst to develop a report that will capture project results for the last 4 years and illustrate whether project performance is improving or deteriorating. You are interested in which of the following reports? a. Trend report b. Variance report c. Forecasting report d. Progress report

a. Trend report

You have been asked to provide information about your project's current performance in terms of the relationships between scope, schedule, and budget. The most appropriate type of report that will accomplish this is: a. Progress report b. Earned Value Management report c. Trend report d. Status report

b. Earned Value Management report

A project manager is leading a team of 15 team members. One of the team members is not dedicated to the project and is having a performance issue. What form of communications can the project manager use to address this kind of situation? a. Informal written b. Informal verbal c. Formal written Formal verbal

b. Informal verbal

Which of the following is the process of documenting project purchasing decisions, specifying the approach, defining selection criteria to identify potential sellers, and putting together a Procurement Management Plan? a. Conduct Procurement process b. Plan Procurement Management process c. Close procurement process d. Control Procurement process

b. Plan Procurement Management process

You are the project manager of a data center project. You have just completed an analysis of project risks and have prioritized them using a probability and impact matrix. The approach you used to prioritize the risks is: a. Qualitative analysis b. Quantitative analysis c. Sensitivity analysis d. Earned value analysis

b. Quantitative analysis

Which of the following is contained in the risk management plan and describes a risk category? a. Risk response plan b. Risk Breakdown Structure c. Risk register d. Watch list

b. Risk Breakdown Structure

Which one of the following is a comprehensive way of ordering risk according to their source? a. Product description b. Risk categories c. Assumptions Constraints

b. Risk categories

You are performing stakeholder analysis and utilizing different models to identify the interests, expectations, and influence of the stakeholders to classify them. The model that helps to analyze a stakeholder's power or ability to impose his or her will, urgency, or need for immediate attention from the project team along with the legitimacy of his or her involvement is the a. Power/interest grid b. Salience model c. Power/influence grid d. Influence/impact grid

b. Salience model

A project manager overseeing a construction project notices that her team members are having constant conflicts over issues. The solution was causing her a lot of concern, and she decides to identify the key causes of the conflicts. While exploring the causes she finds the most common cause of conflicts amount team member are project priorities, resources and: a. Personality b. Schedule c. Technical options d. Administration procedures

b. Schedule

You are assigned as a project manager for one of the most imperative and strategic projects in your organization as the stakeholders will pay a vital role in the success of your project, you are trying to identify all your internal and external stakeholders. In which project management process group will you identify stakeholders in your project? a. Initiating b. Initiating and planning c. All process groups d. Planning and monitoring and control

c. All process groups

You have tried to close most of the concerns and areas of disagreement with the vendor while negotiating prior to signing the final contract. You still do not rule out the possibility of misunderstanding and situations that may adversely affect your project. As an alternative, cheaper method to court for dispute resolution, you have assigned a neutral, private third part to resolve the disputes. What is this referred to in contact terms and conditions? a. Force majeure b. Indemnification c. Arbitration d. Fait accompli

c. Arbitration

You have 13 stakeholders in the construction project that you are overseeing. Your initial study about these stakeholders tells you that the most important of them will actively support your project to be successful, but you have a couple of the stakeholders who may adversely impact your project. When do you think these stakeholders will the most influence on your project? a. Throughout the project life cycle b. At the completion of the project c. At the beginning of the project d. During Executing and monitoring and controlling process groups

c. At the beginning of the project

You are the project manager who believes steady employment leads to high employee satisfaction and morale, increased loyalty in the organization, and increased productivity. Which theory do you scribe to? a. McGregor, Theory AX and Theory Y b. Fred Fiedler's Contingency theory c. Dr. William Ouchi's Theory Z d. Victor Vroom's Expectancy theory

c. Dr. William Ouchi's Theory Z

What is the best way to manage stakeholders who are high on the power but low on interests? a. Monitor b. Keep informed c. Keep satisfied d. Manage closely

c. Keep satisfied

A project manager is in the process of ensuring that the information needed of the project stakeholders are met by monitoring and controlling communicators throughout the project life cycle. The project manager is involved in which process? a. Direct and manage project work b. Monitor and control project work c. Monitor communications Manage communications

c. Monitor communications

Designing redundancy in the system taking early action, adopting fewer complex processes, conducting more tests, a developing prototype are all examples of a. Risk avoidance b. Risk transfer c. Risk mitigation Risk acceptance

c. Risk mitigation

You are working on the project risk management process to decide how to approach, plan and execute risk management activities. All the following are inputs to the Plan Risk Management process except: a. Stakeholder register b. Project charter c. Risk register d. Project Management plan

c. Risk register

Which one of the following is not a noteworthy factor in the determination of the method that may be used to transfer information to, from and among project stakeholders? a. Availability of technology b. Urgency of the need for information c. Stakeholder identification d. Duration of the project

c. Stakeholder identification

As a buyer's project manager, what is the best way for you to ensure that the seller is not making extra profits in the cost-Plus fixed Fee contract? a. You only pay the fee when the project is competed b. You are not authorized any unexpended cost overrun c. You audit an invoice and make sure that you are not charged for items not chargeable to the project d. You ensure the sellers are not cutting scope

c. You audit an invoice and make sure that you are not charged for items not chargeable to the project

As a project manager you are required to report project performance to all your stakeholders on a regular basis. Which one of the following can utilize Earned Value Management in its preparation for management? a. Status reports b. Trend reports c. Progress reports d. All the above

d. All the above

Which communications method is used essentially for prominent documents that go into project records? a. Informal verbal b. Informal written c. Formal verbal d. Formal written

d. Formal written

You are working on a software development project to automate an accounting process. Your team and your senior manager all feel the work is completed. However, one of your important clients disagrees and feels that one of the deliverables is not acceptable, as it does not meet the requirements specifications. What is the best way to handle this conflict? a. Issue a change order b. Renegotiate the contract c. File a lawsuit to force the stakeholders to accept the deliverable d. Meet with the responsible team member to review the WBS dictionary

d. Meet with the responsible team member to review the WBS dictionary

You are overseeing a project to implement an accounting application and are currently in the Identification Risk process of identifying and documenting the risk project risks. All the following are tools and techniques for the Identify Risk Process except a. Data gathering b. Data analysis c. Prompt list d. Monte Carlo simulation

d. Monte Carlo simulation

You are in the Plan Resource Management process of identifying and documenting project roles, responsibilities, required skills competencies, reporting structure and other items. The structure that you are using is arranged according to an organizations existing departments, units or teams with their respective work packages. Which of the following are you using? a. Resource Breakdown Structure b. Responsibility Assignment Matrix c. Position descriptions d. Organizational Breakdown Structure

d. Organizational Breakdown Structure

A project manager is in the Manage Communications process of collecting and distributing performance information and is especially focused on repotting against performance baseline. Which of the of the following is an output of this process? a. Performance reporting b. Information Management System c. Communications methods d. Project Communications

d. Project Communications

You are in the Monitor Stakeholder Engagement process of evaluating and monitoring overall stakeholder relationships and ensuring stakeholders appropriate engagement in the project by adjusting plans and strategies as required. Which one of the following is an important input to the monitor Stakeholder Engagement process? a. Agreements b. Project Charter c. Change log d. Project document - issue log

d. Project document - issue log

After reviewing your project schedule and resource calendars, you realized that your resources are 100 percent occupied and will have no time to work on a new component. So, you decide to outsource the component and start negotiating with a couple of potential vendors. While outsourcing, which of the following should you be most concerned about? a. The technical background of the vendor b. The financial capability of the vendor c. The relevant experience of the vendor d. Proprietary data of your organization.

d. Proprietary data of your organization.

You are completed working on your staffing management plan and identified how human resources should be defined, staffed, managed and eventually release from the project. Which portion of the Resource Management Plan will help you the most to determine when to release resources from your project? a. Training needs b. Recognition and rewards c. Compliance considerations d. Resource histogram

d. Resource histogram

The risk associated with performance specifications is usually the responsible of the a. Project manager b. Buyer c. Project sponsor d. Seller

d. Seller

You are assigned as the project manager to implement a computer solution for one of the retailers in your area. Currently, you are working on identifying stakeholders and their level of involvement, roles, and responsibilities. Who will be able to help the team the most to identify what roles the stakeholders will play and how and what they will contribute to the project? a. The sponsor b. Senior management c. Functional manager d. Stakeholders

d. Stakeholders

A stakeholder register includes all the following items except: a. Stakeholder classification b. Identification information c. Assessment information d. Strategies

d. Strategies