TPV1 POST-ASSESSMENT
Project XYZ promises to be worth $587,000 in three years. Assuming that the rate of return is currently six percent, what is the maximum amount of funds that Project XYZ can cost and still be initiated if the organization wants to earn at least $75,000 on the project?
$492,856 To answer this question, you'll need to determine the present project value and then subtract $75,000 from that value. The formula for present value is provided below: PV=FV(1+i)^n where i is the interest rate (six percent is expressed as 0.06) and n, the number of time periods. Substituting the values expressed in this question, here's how the formula reads: PV=FV/(1+i)^n PV=587,000/(1+.06)^3 PV=587,000/1.191016 PV=$492,856 This result reveals the present value, but because management wants to earn at least $75,000 on this project, the present value to invest in the project should not be more than $492,856. Lesson: Project Process Groups and the Project Charter Objective: Creating the Project Charter
You're manager of the NHQ project, which has a budget of $750,000 and is scheduled to last two years. The project's currently 25 percent complete, though it was scheduled to be 40 percent complete by this time. The project has spent $210,000 to date. What's the project's current cost variance?
-$22,500 The cost variance is found by subtracting actual costs from earned value. The earned value is the percentage of work completed times the budget at completion. In this question, the earned value is $187,500 and the actual costs are $210,000, resulting in a cost variance of -$22,500. Cost variance (CV) is a measure of project cost performance. A variance is used to determine if costs are higher or lower than budgeted. Cost variance is calculated by the following formula: CV = Earned value (EV) - Actual cost (AC) A positive value means that spending is less than budgeted, whereas a negative value indicates that project costs are higher than originally planned. Lesson: Controlling the Project Objective: Controlling Cost with Earned Value Measurement
Given the following values: PV = 85, AC = 83, and EV = 81, What's the CV?
-2 The formula for CV is EV minus AC (in this case, 81 - 83 = -2). Lesson: Controlling the Project Objective: Controlling Cost with Earned Value Measurement
You work as a project manager for Tech Perfect, Inc. You're looking for project performance efficiencies. The related key values are provided in the table below: Measurements Values EV 320 PV 310 AC 400
-80 According to the question, you're required to calculate the project cost variance (CV), which is a measure of project cost performance. The variance indicates whether costs are higher or lower than budget and is calculated using the following formula: Cost variance (CV) is a measure of project cost performance. A variance is used to determine if costs are higher or lower than budgeted. Cost variance is calculated by the following formula: CV = Earned value (EV) - Actual cost (AC) A positive value means that spending is less than budgeted, whereas a negative value indicates that project costs are higher than originally planned. Now, substituting the provided values in the formula: CV = EV - AC = 320 - 400 = -80 The negative CV (-80) indicates that costs are higher than budget. Lesson: Controlling the Project Objective: Controlling Quality
Your subject-matter expert tells you that her most likely estimate is 40 hours, pessimistic estimate is 65 hours, and optimistic estimate is 24 hours. What's the final three-point estimate?
43 hours Three-point estimates are an average of most likely, pessimistic, and optimistic estimates. Three-point estimate= (most likely estimate + optimistic estimate + pessimistic estimate)/3 For more information, please see Chapter 4. Lesson: Schedule Planning Objective: Activity Duration Estimates
Which of the following is not true regarding a project's work breakdown structure (WBS)?
A WBS defines what will or will not be included in a project. A WBS doesn't define what will or won't be included in a project. Project scope defines what will or will not be included in a project. Therefore, project scope is the number and complexity of tasks to be performed by a software solution. It consists of overall project requirements and incorporates constraints imposed on the project by resources, time, and other limiting factors. Lesson: Planning a Project Objective: Creating the Work Breakdown Structure (WBS)
Which of the following represents money expended for completed work during a given period?
AC AC is actual costs expended for work completed during a given period, PV is planned value, EV is earned value, and BAC is budget at completion. For more information, please see Chapter 9. Lesson: Controlling the Project Objective: Controlling Cost with Earned Value Measurement
Jane is manager of the GBB project for her company. A vendor has offered her project a 10 percent discount if her company will order 100 units for the project. It's possible that the GBB project may need them, but their cost may be an issue. Jane documents the offer and tells the vendor she'll keep the offer in mind and continue with the project as planned. What risk response has been given in this project?
Acceptance Acceptance happens when project risk is acknowledged but not necessarily addressed. Jane will accept the discount if her project needs the 100 units, but she makes no promise to order them. Acceptance response is a part of risk response planning. Acceptance response indicates that the project plan will not be changed to deal with the risk. Management may develop a contingency plan if the risk does occur. Acceptance response to a risk event is a strategy that can be used for risks that pose either threats or opportunities. Acceptance response can be one of two types: Passive acceptance: A strategy in which no plans are made to avoid or mitigate the risk. Active acceptance: These responses include developing contingency reserves to deal with risks in case they occur. Acceptance is the only response to both threats and opportunities. Reference: "Project Management Body of Knowledge (PMBOK Guide)" Lesson: Defining the Cost, Quality, and Risk Plans Objective: Review Questions
Tom works as a project manager for BlueWell, Inc. He's determining which risks can affect his project. Which of the following inputs of the "identify risks" process is useful in doing so and provides a quantitative assessment of likely cost to complete scheduled activities?
Activity cost estimates An activity-cost-estimates review is valuable in identifying risks, as it provides a quantitative assessment of expected cost to complete scheduled activities and is expressed as a range, with range width indicating degrees of risk. Reference: "Project Management Body of Knowledge (PMBOK Guide)" Lesson: Defining the Cost, Quality, and Risk Plans Objective: Cost Estimating
You're project manager of your organization. Marcy, a project team member, has identified an issue with a piece of hardware that could affect project implementation. What should you do with this hardware issue?
Add the issue to the project issue log for resolution. Issues—all issues—should be added to a centralized project issue log. It's possible to categorize issues within the log, but this document identifies the issues and their conditions, an issue owner, and a required resolution date. What is a Work Breakdown Structure (WBS)? In project management and systems engineering, a work breakdown structure (WBS) is a tool that defines a project and groups its discrete work elements in a way that helps to organize and define its total work scope. A WBS element can be a product, data, service, or any combination thereof, and it provides the necessary framework for detailed cost estimating and control, along with providing guidance for schedule development and control. Additionally, the WBS is a dynamic tool that can be revised and updated, as needed, by the project manager. Lesson: Executing the Project Objective: Forming and Developing the Project Team
Which of the following is the stage of team development in which team members are released?
Adjourning Adjourning is the team development stage in which team members are released. The other stages of team development are forming, storming, norming, and performing. Lesson: Executing the Project Objective: Forming and Developing the Project Team
Which of the following cost estimation methods uses historical information from similar projects and expert judgment to determine total project cost?
Analogous Analogous estimation uses parameter values such as scope, cost, and budget, and duration or measures of scale such as size, weight, and complexity, from a previous, similar activity as basis for estimation of a similar parameter in a future activity. It's a top-down estimating technique that's also a form of expert judgment; however, it provides a lower degree of accuracy than other estimation techniques. Analogous estimation is used primarily when there's a limited amount of detailed information about a project or program. Lesson: Defining the Cost, Quality, and Risk Plans Objective: Cost Estimating
This procedure performed in the administrative closure process assures that you can produce sign-offs and other project documents should the need arise, and it provides a reference for future projects.
Archiving project documents Archiving project documents assures that you can produce sign-offs and other project documents should the need arise, and it provides a reference for future projects. Lesson: Closing the Project Objective: Steps in Closing Out a Project
Risk analysis includes all of the following except for which one?
Avoid, transfer, mitigate, and accept "Avoid, transfer, mitigate, and accept" are negative risk strategies used in risk response process. For more information, please see Chapter 6. Lesson: Defining the Cost, Quality, and Risk Plans Objective: Risk Planning
Which of the following cost estimation methods is most accurate, costly, and time consuming?
Bottom-up The bottom-up cost estimation method is most accurate, costly, and time consuming. Lesson: Defining the Cost, Quality, and Risk Plans Objective: Cost Estimating
Which of the following is calculated by dividing the number of days projected for a task by its budgeted cost?
Budgeted Cost of Work Scheduled (BCWS) or (PV) The BCWS is calculated by dividing the number of days projected for a task by its budgeted cost. The BCWS, also known as planned value (PV), is the authorized budget assigned to the scheduled work to be accomplished for a schedule activity or WBS component. Lesson: Controlling the Project Objective: Controlling Cost with Earned Value Measurement
Which of the following is a time-phased budget used to measure and monitor cost performance throughout a project life cycle?
Cost baseline Cost baseline is an approved time-phased budget used to monitor and measure cost performance throughout a project life cycle. It includes a budget contingency to accommodate a risk of incurring unidentifiable but normally occurring costs within a defined scope. Cost baseline varies from project to project, depending on the project's budget and schedule. Reference: http://www.project-management-knowledge.com/definitions/c/cost-baseline/ Lesson: Defining the Cost, Quality, and Risk Plans Objective: Cost Estimating
After reviewing the project work progress report, a key stakeholder has sent an email to the project manager conveying her dissatisfaction with the project's progress. Which of the following would be the best ways for the project manager to address stakeholder concerns? Each correct answer represents a complete solution. Choose all that apply.
Call the stakeholder to address the concerns. Have a face-to-face meeting with the stakeholder. To address stakeholder concerns regarding project progress, the project manager should immediately call the stakeholder to acknowledge her. During their conversation, the project manager should also schedule a face-to-face meeting with the stakeholder to clearly understand her perspective and concerns about the project and in turn meet her needs. Lesson: Controlling the Project Objective: Managing Stakeholder Expectations
You're manager of the NGH project for your organization. A stakeholder has requested a significant project change that will cause a 15 percent increase in project budget and add six months to its schedule. As project manager, you don't have the power to make this type of change decision. To whom should you forward the request?
Change control board A change control board is a group of executives with the authority to determine if a project change request should be approved or declined. They evaluate cost benefits of the change request and make a decision as to its value. Some change requests, such as new laws, are requirements but should still pass through a change control board whenever possible. Lesson: Executing the Project Objective: Organizational Governance
When a project manager creates a presentation and project scope document, she implements a method that ensures any modification to a project's scope follows a standardized process. Which of the following methods does the project manager implement?
Change management Change management is a method of transitioning individuals, teams, and organizations to a desired future state. A project manager implements change management to ensure that modification of a project's scope follows a standardized process that includes: Change request forms A change request log A change control board Coordination and communication with appropriate stakeholders Updating the affected project-planning documents Lesson: Processing Change Requests Objective: Overview
You're project manager for your organization. Your current project has 18 project team members throughout the United States. You'll be managing these remote team members through email, Web conferencing, and phone meetings. All of the following are things you must consider when you plan for project team management and meetings except for which one?
Change management issues Although change management issues are an important consideration in project control, they're not the most pressing planning consideration for virtual teams. Lesson: Defining the Cost, Quality, and Risk Plans Objective: Project management plan sign-off and transition
There are four inputs to the risk-control process. For the project you're currently managing, which of these choices will not help you prepare for risk monitoring and control?
Change requests Change requests aren't one of the four inputs to the risk-control process. The four inputs are a risk register, a risk management plan, work performance data, and work performance reports. Reference: "Project Management Body of Knowledge (PMBOK Guide)" Lesson: Controlling the Project Objective: Controlling Quality
Choose the project process group that's least frequently performed.
Closing The closing process is one that's typically forgotten and not performed but should be, for every project. Its primary purpose is to document formal acceptance of project work and hand off the completed product to the organization for ongoing maintenance and support. Closing processes include project sign-off, archiving of documents, turnover to a maintenance group, release of project team members, and review of lessons learned. Lesson: Closing the Project Objective: Preparing for Project Closure
You're a project manager for uCertify, Inc. Two of your team members are in conflict over a project module assigned to them. You've told them to work together to find a mutually beneficial solution. Which of the following conflict resolution techniques will your team members follow to do so?
Collaboration Collaboration is a method of resolving conflict in which two people jointly work to find a mutually beneficial solution. It's the only "win-win" solution to conflict, but it can be time-intensive and unsuitable without enough trust, respect, or communication among participants for collaboration to occur. Lesson: Executing the Project Objective: Overview
This process defines what people or groups need project information, when and how often it should be distributed, and its format.
Communications planning Communications planning defines the type of project information, as well as the frequency, format, and method of its distribution to project stakeholders throughout its duration. For more information, please see Chapter 5. Lesson: Communicating the Plan Objective: Communications Planning
During the monitoring and controlling phase, a project manager determines that his project is very close to completion (no further modification is required), yet he discovers a conflict between two team members. Which of the following conflict resolution techniques will he use to resolve this issue?
Confrontation Confrontation is the best way to resolve conflict. A key action of this technique is to go on a fact-finding mission to find the one right solution to the problem. Once you uncover the facts, you present them to the parties, thus making the decision clear and rendering it permanent. Project managers use this conflict resolution approach most often; it's an example of a win-win solution. Lesson: Executing the Project Objective: Overview
You're manager of the NQK project for your organization. Your project team has both internal and contract-based employees. What document should define how the contract-based employees will be managed?
Contract The contract between buyer and seller should address how contract-based project team members will be managed. The contract might defer to the buyer's human resource management plan, but not necessarily. Contract Contract is an exchange of promises of action between two or more parties. The obligations defined by this legal agreement are enforceable in a court of law and mutually bind seller (to provide a specified product, service, or result) and buyer (to pay for it). Reference: "A Guide to the Project Management Body of Knowledge, ISBN: 978-1-933890-51-7.", "IT Project Management: On Track From Start to Finish by Joseph Phillips, ISBN: 978-0072232028" Lesson: Communicating the Plan Objective: Procurement Planning
Which of the following is the process of monitoring cost performance and controlling changes to the cost baseline?
Cost control Cost control is the process of monitoring cost performance and controlling changes to the cost baseline. Lesson: Controlling the Project Objective: Controlling Cost with Earned Value Measurement
The cost variance (CV) of a project is a negative value. What does this result indicate?
Costs are higher than originally planned for the project. Cost variance (CV) is a measure of project cost performance. A variance is used to determine if costs are higher or lower than budgeted. Cost variance is calculated by the following formula: CV = Earned value (EV) - Actual cost (AC) A positive value means that spending is less than budgeted, whereas a negative value indicates that project costs are higher than originally planned. Reference: http://www.project-management-knowledge.com/definitions/c/cost-variance-cv/ Lesson: Controlling the Project Objective: Controlling Cost with Earned Value Measurement
A project's cost variance (CV) is positive. What does this result indicate?
Costs are less than that budgeted. Cost variance (CV) is a measure of project cost performance. A variance is used to determine if costs are higher or lower than budgeted. Cost variance is calculated by the following formula: CV = Earned value (EV) - Actual cost (AC) A positive value means that spending is less than budgeted, whereas a negative value indicates that project costs are higher than originally planned. Reference: http://project-management-knowledge.com/definitions/c/cost-variance-cv/ Lesson: Closing the Project Objective: Steps in Closing Out a Project
You work as a project manager for uCertify, Inc. You have to keep resources levelly loaded, but will require them to be flexible in their start time. You have to quickly switch between tasks and task chains to keep the whole project on schedule. Which of the following methods will you use to accomplish the above task?
Critical chain project management (CCPM) Critical chain project management (CCPM) is a method of planning and managing projects that emphasizes resources required to execute project tasks. This is in contrast to the more traditional critical path and PERT methods, which emphasize task order and rigid scheduling. A critical chain project network tends to keep resources levelly loaded, but requires them to be flexible in their start times and to quickly switch between tasks and task chains to keep the whole project on schedule. Reference: CompTIA Project+ Study Guide: Exam PK0-003, Contents: "Executing the Project" Lesson: Schedule Planning Objective: Creating the Project Schedule
What are the three constraints in project management "iron triangle"?
Time, cost, and quality The "iron triangle" of project management is a representation of the constraints of time, cost, and quality as the three sides of an equilateral triangle. Lesson: Processing Change Requests Objective: Implementing Change Control Systems
You're manager of an IT project that's currently in its monitoring and controlling phase. A user approaches you with a change request that you evaluate and find necessary, even though the change will result in a large impact to scope. What's your next step?
Determine whether there's an alternative solution that would have less impact on the scope, and discuss the trade-off with the stakeholder. The best alternative in cases in which there would be large impacts to scope is to determine whether there's a trade-off or alternative that would meet stakeholder needs while reducing impact to project scope. Lesson: Processing Change Requests Objective: Implementing Change Control Systems
What's one important step that new project managers might overlook when faced with a possible scope change?
Determining an alternative solution When faced with the possibility of a scope change, a project manager must try to find alternatives that would lessen the impact of the proposed change. For more information, please see Chapters 8. Lesson: Processing Change Requests Objective: Implementing Change Control Systems
From the following list, choose the item that represents the monitoring of quality control.
Development of a Pareto diagram A Pareto diagram is used to rank a problem's importance by its frequency of occurrence. The actions taken following completion of a quality activity are accepting found defects, reworking deliverables to correct defects, or changing processes to prevent defects from occurring in the future. Lesson: Controlling the Project Objective: Controlling Quality
You're project manager for your organization. A vendor has told you that the cost of resources you'll use in your project will increase by 40 percent, but they can deliver the product within 10 days. Another vendor has a substantially lower price, but they can only deliver the product in 21 days. How should you document the increase in price?
Document the scenario consideration in both the schedule change control system and the cost change control system. The best solution is to consider which is more important in your context—cost or schedule. Cost change and schedule change control systems can help you determine the driving factor for your project. Change control system A change control system is a collection of formal documented procedures that define how project deliverables and documentation will be controlled, changed, and approved. Change control is a part of the configuration management system. Reference: "A Guide to the Project Management Body of Knowledge", "IT Project Management: On Track From Start to Finish by Joseph Phillips, ISBN: 978-0072232028." Lesson: Schedule Planning Objective: Creating the Project Schedule
Ned's manager of a new project. He's determining which project team members he should recruit for the eight months it's slated to last. All of the following are enterprise environmental factors to consider in acquiring project team members, except for which one?
Duration as an employee When selecting project team members, you don't consider the duration of their employment. The most important factors to consider are their experience and ability. Lesson: Controlling the Project Objective: Managing Stakeholder Expectations
During execution of a construction project, a project manager requires personnel who can work outdoors, atop tall buildings. Which of the following solutions would best mitigate risk of injury to those personnel without affecting the approved project schedule?
Ensure that personnel are furnished with slip-resistant boots. Whenever personnel work on a construction project and are required to work atop tall buildings, they must wear slip-resistant boots to avoid accidental risk. Lesson: Defining the Cost, Quality, and Risk Plans Objective: Risk Planning
You've developed a project plan and scope document. The project plan has been approved, and you're moving forward with project implementation. What process have you begun?
Executing You're now in the executing process of the project, which means that your project is underway and team members are working on project deliverables. Lesson: Executing the Project Objective: Forming and Developing the Project Team
This positive risk strategy looks for opportunities to take advantage of positive project impacts if a risk event occurs.
Exploit Exploit is a positive risk-response strategy that looks for opportunities to take advantage of positive impacts of a potential risk event. Lesson: Defining the Cost, Quality, and Risk Plans Objective: Risk Planning
You're manager of the HNG project, which is slated to last eight months, but management has asked that you create a method for reducing its duration. You elect to allow certain project phases to overlap, which is a feature of what schedule compression technique?
Fast-tracking This is an example of fast tracking, which allows entire project phases to overlap, thus compressing total project duration. Fast-tracking a project Fast-tracking is a technique frequently used to compress a project's schedule. It's often the most effective way to shorten project duration. You fast-track a project by rescheduling tasks originally scheduled to run in sequence to run in parallel. This technique shortens the project schedule without reducing its scope or compromising its quality. The problem with fast-tracking is that there's no "free lunch." Additional resources—even "seasoned" ones—pulled in to take on the parallel tasks might make mistakes, skip crucial steps, or make assumptions because results from the required parallel step were as yet unavailable. If something goes wrong, your schedule could slip or its quality, scope, or budget suffer. In general, the risks of fast-tracking are small. However, to make the most of this technique, first look at the longest tasks on the critical path. These provide the largest potential decrease in duration with the fewest number of risks to manage. Lesson: Processing Change Requests Objective: Implementing Change Control Systems
You're a project manager working on a midsize project well into the executing phase. One of your more powerful stakeholders is somewhat overbearing at regular project status meetings and insists that hers is the only solution. What conflict resolution technique does this scenario describe?
Force Force is a technique of imposing a solution on the other parties involved, which results in a "win-lose" scenario. Lesson: Executing the Project Objective: Forming and Developing the Project Team
Mark is a project manager in his organization. He finds that two of his team members are in conflict, and important principles are at stake. What type of conflict resolution method should Mark use in this instance?
Force Because important principles are at stake, Mark will have to use force to resolve the conflict. Force is a conflict resolution method in which one party wins while ignoring the needs and concerns of the other party. As conflict intensity increases, the tendency for forced conflict becomes more likely. Thus, one party wins at the expense of the other. Lesson: Executing the Project Objective: Overview
You're a new project manager for your company, a position that your predecessor left abruptly. While reviewing his last project, you find that its scope document was poorly formulated and missing several key elements. What two steps will you now take?
Gain project sponsor and stakeholder sign-off on a new document. Research and document the missing elements in a new scope statement. In this scenario, first you'll research and document the missing elements of the scope statement, write a new scope statement, and obtain sponsor and stakeholder buy-in, approval, and sign-off. Lesson: Processing Change Requests Objective: Monitoring and Controlling Project Work
Which of the following is a tool for helping a company compare its actual performance with its potential performance?
Gap analysis Gap analysis is a technique that helps a company compare its actual performance with its potential performance. It's a formal study of what a business is doing currently and what it would like to do in the future. Gap analysis provides a foundation for measuring investment of time, money, and human resources required to achieve a particular outcome. The goal of gap analysis is to identify any gap between optimized allocation and integration of inputs, and the current level of allocation; it helps provide the company with insight into areas that might be improved. The gap analysis process involves determining, documenting, and approving variance between business requirements and current capabilities. Lesson: Communicating the Plan Objective: Procurement Planning
"Install an interactive voice response system to increase customer response time by an average of 15 seconds and decrease the number of customer service interactions by 40 percent" is an example of which of the following elements of a project charter?
Goals and objectives Goals and objectives are specific and measurable. A project description describes key characteristics of a product, service, or project result, but the clue in this question is the quantifiable results you're looking for at the conclusion of the project. The project description describes the project as a whole, and milestones describe its major deliverable or accomplishments. For more information, please see Chapter 2. Lesson: Project Process Groups and the Project Charter Objective: Creating the Project Charter
Which of the following is the core function and primary responsibility of project managers?
Integrating the project work and assuring the satisfaction of stakeholders Project integration is the core function of project managers, and assuring the satisfaction of the stakeholders is their primary responsibility. Lesson: Initiating the Project Objective: Understanding the Project Management Knowledge Areas
During the planning process, a project scope document provides a description of the work necessary to complete a project. Which of the following components would be included in the project scope document? Each correct answer represents a complete solution. Choose all that apply.
Key performance indicators (KPIs) Detailed project objectives Project constraints The project scope documents product description, key deliverables, success and acceptance criteria, key performance indicators, exclusions, assumptions, and constraints. The scope statement is used as a baseline for future project decisions. Lesson: Project Process Groups and the Project Charter Objective: Project Process Groups
Organizational planning happens during the human resource planning process. Each of the following is an environmental factor you should take into consideration when performing organizational planning except for which one?
Labor union agreements Labor union agreements are a constraint you should consider when planning for human resources. Other environmental factors applicable to human resource planning are organizational and technical. Lesson: Communicating the Plan Objective: Human Resources Planning
What term describes time and costs associated with loss of efficiency and productivity an organization experiences while employees learn how to use a new technical deliverable that's been implemented?
Learning curve The learning curve describes the backwards nature of efficiency that an organization experiences when a new solution is implemented into an organization. What is a learning curve? Learning curve refers to a graphical representation of an "average" rate of learning for an activity or tool. It can represent, at a glance, the initial difficulty of learning something and, to an extent, how much there is still to learn after initial familiarity. Lesson: Communicating the Plan Objective: Resource Planning
What component of a project's documentation do team members typically want to keep out of project archives?
Lessons learned Lessons learned are something that project team members don't typically want to include in project archives for fear of being perceived as not having performed adequately. It's important to document lessons learned without placing blame. It can be very helpful to review project archives and pick up some pointers on what not to do. Lesson: Controlling the Project Objective: Managing Stakeholder Expectations
You would use this type of analysis during procurement planning to determine cost effectiveness.
Make-or-buy You would use make-or-buy analysis during procurement planning to determine the cost effectiveness of either making goods and services in-house or procuring them from an outside vendor. For more information, please see Chapter 5. Lesson: Communicating the Plan Objective: Procurement Planning
You work as project manager for uCertify, Inc. Which of the following techniques will you use to determine whether it would be more cost effective to produce a product or service in house or using an outside vendor?
Make-or-buy analysis Make-or-buy analysis is a technique used to determine whether it would be more cost effective to produce a product or service in-house or using an outside vendor. A make-or-buy analysis is used to verify whether a particular work can best be accomplished by the project team or must be purchased from outside sources. Budget constraints can influence make-or-buy decisions; thus, make-or-buy analysis must consider all related costs, both direct and indirect support costs. Lesson: Communicating the Plan Objective: Procurement Planning
Which of the following can convey the completion of an interim key deliverable?
Milestone Milestones signal the completion of key project deliverables. For more information, please see Chapter 4. Lesson: Schedule Planning Objective: Creating the Project Schedule
Which of these statements describes an assumption?
Our most senior web developer will be available to work on this project. Assumptions are those things we believe to be true. Options B and D describe risks, while option A describes a constraint. For more information, please see Chapter 2. Lesson: Project Process Groups and the Project Charter Objective: Creating the Project Charter
You ask your team members for a quantitative task duration estimate. What technique will they use to determine this?
Parametric estimating Parametric estimates are quantitatively based estimates typically calculated by evaluating rate times quantity. Lesson: Defining the Cost, Quality, and Risk Plans Objective: Cost Estimating
During the monitoring and controlling process, a quality manager indicates that certain project requirements can't be fulfilled during quality testing. Thus, to keep the project on schedule, some requirements will have to be modified. Which type of action will this be?
Risk avoidance Risk avoidance is an action taken to mitigate threat. This is done by altering a project management plan to either eliminate risk completely or protect project objectives from its impact. You can remove the risk event entirely by either adding steps to do so or reducing project scope requirements. Lesson: Processing Change Requests Objective: Overview
Select the component that's not a function of the planning process group.
Risk control Risk identification, quantification, and response development occur in a project's planning stage. Risk control occurs during the monitoring and controlling stage. For more information, please see Chapter 8. Lesson: Processing Change Requests Objective: Risk Monitoring and Control
You work as a project manager for uCertify, Inc. You have to create a graph so that you can see where the biggest problems are in relation to other categories of failure. Which of the following charts will help you accomplish this task?
Pareto chart A Pareto chart displays categories of failure as a bar chart, from largest to smallest instances of project failure, defects, or even successes, depending on what's being measured. Its primary advantage is that you can see where the largest problems lie in relation to the other categories of failure. A Pareto chart is a histogram used to ranks problems, defects, or issues by their frequency of occurrence. It helps show where the majority of project effort should be applied, as well as identify smaller problems that can be addressed later. A Pareto chart is both bar chart and line graph: it uses bars to plot values in descending order and a line to graph cumulative totals for each category from left to right. The chart is named after Vilfredo Pareto; its use in quality assurance was popularized by Joseph M. Juran and Kaoru Ishikawa. A Pareto chart is a histogram in which items (such as number of defects) are ordered by frequency of occurrence Reference: CompTIA Project+ Study Guide: Exam PK0-003, Contents: "Closing the Project" Lesson: Controlling the Project Objective: Controlling Quality
You're manager of the NHQ project for your organization. Management wants you to create a quality control chart to show categories of project failure from largest to smallest. What type of quality control tool does management want you to create?
Pareto chart Explanation: Answer option C is correct. A Pareto chart displays categories of failure as a bar chart, from largest to smallest instances of project failure, defects, or even successes, depending on what's being measured. Its primary advantage is that you can see where the largest problems lie in relation to the other categories of failure. Pareto chart A Pareto chart is a histogram used to ranks problems, defects, or issues by their frequency of occurrence. It helps show where the majority of project effort should be applied, as well as identify smaller problems that can be addressed later. A Pareto chart is both bar chart and line graph: it uses bars to plot values in descending order and a line to graph cumulative totals for each category from left to right. The chart is named after Vilfredo Pareto; its use in quality assurance was popularized by Joseph M. Juran and Kaoru Ishikawa. A Pareto chart is a histogram in which items (such as number of defects) are ordered by frequency of occurrence, as shown in the figure below: Lesson: Controlling the Project Objective: Controlling Quality
Quality planning identifies quality standards applicable to a project and determines how the project will meet these standards. Which of the following techniques are used by a project manager to assist with quality planning? Each correct answer represents a complete solution. Choose all that apply.
Peer review Benchmarking Inspection Techniques used by a project manager to assist with quality planning are: Peer review: An examination process in which colleagues evaluate project work such as documents, code, and so on for technical content and quality. Benchmarking: Compares actual or planned practices, such as processes and operations, to those of comparable organizations to identify best practices, generate ideas for improvement, and provide a basis for measuring performance. Inspection: Examines, measures, or tests work results for compliance with quality standards and the project plan. Lesson: Defining the Cost, Quality, and Risk Plans Objective: Quality Planning
What term is assigned to project completion that allows its next phase to begin?
Phase gate A phase gate describes conditions that allow the next phase of a project to begin, depending on past performance in the project. Lesson: Executing the Project Objective: Organizational Governance
Which of the following scheduling techniques identifies successor and predecessor activities to assist a project manager in sequencing project work?
Precedence diagramming method The precedence diagramming method (PDM) uses both predecessors and successors as nodes in the project network diagram. The PDM approach is the most common network diagram approach in use. Lesson: Schedule Planning Objective: Creating the Project Schedule
Who's responsible for stakeholder expectations management in a high-profile, high-risk project?
Project manager A project manager, as an expert in the field of project management, is responsible for stakeholder expectations management. She/he is responsible for the entire project, from inception to completion. Thus, the project manager leads the team and helps negotiate the multiple relationships in any project environment, whether with clients, team members, firm principals, or any variety of partners and functions as project hub. Project managers can have the authority of the planning, execution, and closing of any project typically related to construction industry, architecture, computer networking, telecommunications, or software development. Many other fields in production, design, and service industries also employ project managers. A project manager is responsible for accomplishing project objectives. Important project management responsibilities include creating clear and attainable objectives, building requirements, and managing its triple constraints—cost, time, and scope. Project managers possess the following traits: Communications skills: General management skills used to exchange information. Organizational skills: Management skills for organizing various project components toward successful project completion. Budgeting skills: Include knowledge of finance and accounting principles. A project manager requires these skills to perform cost estimates for project budgeting. Problem-solving skills: Include defining and analyzing problems, deciding how to solve them, and implementing the solutions. Reference: "A Guide to the Project Management Body of Knowledge from the Project Management Institute" Lesson: Executing the Project Objective: Project Kickoff
You're a project manager at uCertify, Inc. You and your team are working on executing processes. Which of the following components of the project plan will you use during these processes? Each correct answer represents a complete solution. Choose all that apply.
Project schedule Quality management metrics Change management form Components of the project plan that you'll use during the executing processes include: Risk register Communications plan Issues log Change management form Quality management metrics Project schedule WBS Budget Resource requirements Scope statement Reference: CompTIA Project+ Study Guide: Exam PK0-003, Content: "Executing the Project" Lesson: Executing the Project Objective: Forming and Developing the Project Team
You work as project manager for uCertify, Inc. You're in the project kickoff meeting. Which of the following documents will you review at the meeting? Each correct answer represents a complete solution. Choose all that apply.
Project scope Project budget Project charter Documents you'll review at the project kickoff meeting are: Project charter Project scope Project budget Lesson: Defining the Cost, Quality, and Risk Plans Objective: Cost Estimating
You're a project manager in a matrix environment, and management is concerned about your utilization of project team resources and when you'll release them. What project management plan will guide how and when you'll release resources from your team?
Project staffing management plan A staffing management plan is not a project resource; it's a subsidiary of an overall project management plan and defines when project team members will be brought onto and released from the project. It describes when and how human resource requirements will be met. Depending on project needs, it can be formal or informal, highly detailed, or broadly framed. The staffing management plan can include staff acquisition, resource calendars, a staff release plan, training needs, recognition and rewards, compliance, and safety. The staffing management plan should be updated throughout the project. According to the PMBOK guide, the staffing management plan should include the following elements: Staff acquisition: Describes how team members are acquired (from inside or outside an organization), where they're located, and the costs for specific skills and expertise. Resource calendars: Defines time frames in which project resources will be needed and when the recruitment process should begin. Resources can be described individually, by teams, or by function (programmers, testers, and so on). Many staffing management plans use a resource histogram, usually in chart form, with project time along the horizontal axis and hours needed along the vertical axis. Staff release plan: Attention should be given to how to release project team members at the end of their assignments. You should have reassignment procedures in place to move them to other projects or back to their pre-project assignments. Doing so reduces overall project costs because you pay them only for their work time, then release them, thus avoiding the need to keep them busy between assignments or until the scheduled end date, should they complete their activities early. Having these procedures in place will also maintain morale, because everyone will be clear about their reassignment, thus reducing post-project employment anxiety. Training needs: Describes training plans necessary for team members without the required skills or abilities to perform project tasks. Recognition and rewards: Describes systems you'll use to reward and reinforce desired work behavior. Compliance: If your project involves regulations or contractual obligations (such as union contracts) that must be met, the staffing management plan should detail these and any human resource policies that deal with compliance issues. Safety: Include in the staffing management plan any safety policies and procedures applicable to the project or its field of industry. Lesson: Executing the Project Objective: Project Kickoff
Ishikawa diagrams, Pareto diagrams, trend analyses, flowcharts, statistical sampling, and run charts are tools and techniques used in which process?
Quality control Quality control is the review of project results to determine whether they comply with standards documented in a quality management plan. This process uses the tools and techniques stated in the question. For more information, please see Chapter 9. Lesson: Controlling the Project Objective: Controlling Quality
Fred is project manager for his organization, and he is helping management to create a project charter for a new project. Once it's officially approved, it will formally initiate the project. The project charter should identify all of the following except for which one?
Quality improvement processes A project charter doesn't define quality improvement processes, which are included later in project planning, in a process improvement plan. Project charter A project charter is a document that officially recognizes and acknowledges that a project exists. It helps define requirements and expectations for everyone involved in the project. It's issued by a project sponsor. A project charter can be as simple as a one-page form, for a very small project, that briefly describes the project, and authorizes and lists a project manager's responsibilities. However, it can be much longer, depending on project size. In addition to formally authorizing the project, the charter provides the project manager with authority to apply organizational resources to project activities. Project charters are important to project success. It's a good idea to assign a project manager prior to the start of planning, and preferably during project charter development. Lesson: Defining the Cost, Quality, and Risk Plans Objective: Quality Plannin
A feasibility test was performed to determine whether a critical project could be successfully completed. The test indicated that there are insufficient human resources to complete the project. What should the project manager suggest in this case?
Raise the budget to hire contractors. Because the project's human resources are insufficient to complete it, the project manager should suggest raising the budget to hire contractors, who will be responsible for testing and validating project quality, and its budget will track actual expenses incurred against estimates. Lesson: Communicating the Plan Objective: Human Resources Planning
You're manager of the NDF project. You need to specify how often a complete project report must be made, including forecasted project completion information. How often will you require a project report?
Regularly or on an exception basis A performance report should be created regularly or on an exception basis. The performance report tracks performance of program/project team members. A template can be created to track performance, such as work results, schedule, costs, and other factors. The performance report must include both positive and negative staff performance information. Lesson: Executing the Project Objective: Forming and Developing the Project Team
A project manager has to allot team members to a new project. Which of the following must the project manager have before the allotments are made? Each correct answer represents a complete solution. Choose all that apply.
Resource availability A work breakdown structure A project manager must have the following before assigning team members to project work: Resource availability: Inspects project requirement for a resource with respect to availability of resources across an organization. A work breakdown structure: As a deliverables-oriented hierarchy, it defines all project work. Lesson: Planning a Project Objective: Creating the Work Breakdown Structure (WBS)
You're manager of the NJY Electrical Grid Project. Cathy, an electrical engineer on your project team, will complete all electrical design activities as part of her duties. Cathy's electrical engineering duties are best described by what project management term?
Responsibility A responsibility is the work that a project team member is expected to perform during a project. Reference: A Guide to the Project Management Body of Knowledge, (PMBOK Guide) Lesson: Executing the Project Objective: Project Kickoff
A project manager assigns team members from four different countries to work on the same project. While generating a resource management plan, which of the following should be considered first?
Reviewing holiday and vacation schedules with all team members A resource management plan identifies and documents project roles, responsibilities, required skills, and reporting relationships. While generating a resource management plan, a project manager should first review holiday and vacation schedules with all team members. This helps in planning a project scope document, according to which the team will work to accomplish a project completion date. In short, a resource management plan will determine project duration. Lesson: Communicating the Plan Objective: Human Resources Planning
In what organizational structure is a project manager often referred to as project coordinator or expeditor?
Weak matrix Weak matrix structures are similar to functional structures; project managers are often called project coordinators or expeditors. Lesson: Initiating the Project Objective: Understanding Organizational Structures
You've been assigned to manage a new project that involves deployment of a new software application to all your organization's users. You've identified the scope and related scope management activities. You plan to develop a schedule that your project team can follow. You've begun to define activities required to complete work packages. Which of the following would not serve as an input in this process?
Risk matrix A risk matrix is a tool for analyzing risks, their impact, their probability, and so on and doesn't serve as a direct input for defining activities. Risk matrix A risk matrix is a tool used in the risk assessment process. It allows the severity of a risk event to be determined. In a risk matrix, a table of risks, their probability, and their impact equate to a risk score. Lesson: Defining the Cost, Quality, and Risk Plans Objective: Risk Planning
Risk assessment is the gathering of information from different resources to identify risk events. Which of the following techniques are included in initial risk assessment? Each correct answer represents a complete solution. Choose all that apply.
SWOT analysis Brainstorming Delphi technique Information gathered from resources for initial risk assessment includes: SWOT analysis: A planning technique that defines project strengths, weaknesses, opportunities, and threats. Brainstorming: A technique for gathering general data from team members or subject matter experts, specifically used to identify project risks, ideas, or solutions. Delphi technique: A communication technique for forecasting risk events that employs a panel of experts. Lesson: Defining the Cost, Quality, and Risk Plans Objective: Overview
You've been assigned as manager for a major IT project. Brett is the functional manager who will provide human resources for your development team; however, he's also supplying resources to other concurrent projects. You have a "dream-team" list of people you want on your team, but you're worried that other project managers may want these same people. What's the best way to approach Brett regarding the assignment of people to your project?
Schedule a meeting with Brett to discuss resources. Explain your project deliverables and the skill sets you need. Obtaining the right resources for your project will require good planning and skillful negotiating skills. The best approach is to set up a meeting with each functional manager and negotiate the resources you need and their availability. Lesson: Communicating the Plan Objective: Human Resources Planning
Your project is running late, and management has asked that you remove elements from the project scope that aren't core requirements. This removal of project deliverables will allow your project to reach its predetermined deadline. What document should you update to reflect this decision?
Scope baseline Whenever project scope changes, the scope baseline should be updated to reflect the change. Recall that the scope baseline includes the project scope statement, the WBS, and the WBS dictionary. What is a Work Breakdown Structure (WBS)? In project management and systems engineering, a work breakdown structure (WBS) is a tool that defines a project and groups its discrete work elements in a way that helps to organize and define its total work scope. A WBS element can be a product, data, service, or any combination thereof, and it provides the necessary framework for detailed cost estimating and control, along with providing guidance for schedule development and control. Additionally, the WBS is a dynamic tool that can be revised and updated, as needed, by the project manager. Reference: "A Guide to the Project Management Body of Knowledge" Lesson: Executing the Project Objective: Forming and Developing the Project Team
This document describes the procedures for preparing a WBS (work breakdown structure), how changes to scope will be addressed, how deliverables will be verified, and other elements.
Scope management plan A scope management plan describes procedures for preparing a scope statement and WBS, a definition of how deliverables will be verified, and a description of the process for controlling changes. Lesson: Planning a Project Objective: Documenting the scope management plan
Why should you obtain formal sign-off when you conclude your project? Each correct answer represents a complete solution. Choose all that apply.
Sign-off acknowledges that the project team's no longer accountable for its product. Sign-off allows the project manager to start a new assignment. Sign-off indicates that the project meets its documented requirements and the client's accepted project deliverables. Sign-off is the trigger for releasing team members back to their functional organization. A sign-off is formal project acceptance. Team members are released according to the staffing management plan, but both the project manager and team members may continue their project involvement until all closure activities are complete. Lesson: Closing the Project Objective: Steps in Closing Out a Project
Mark works as a project manager in an organization. He finds that two of his team members are in conflict over their project's database server configuration. Mark intervenes and tells them they both have good points, but server configuration will be decided during project planning. Both team members agree with this. What type of conflict resolution has Mark used in this instance?
Smoothing This method of conflict resolution is known as smoothing, in which areas of agreement are emphasized and areas of disagreement are downplayed. However, conflicts often aren't resolved this way. Reference: http://www.brighthub.com/office/project-management/articles/66409.aspx Lesson: Executing the Project Objective: Overview
You're manager of the NGHQ project for your organization. Your project team has 21 members dispersed throughout the US. You've created some ground rules regarding work performance, communications, and working hours for the project team to follow. Who's responsible for enforcing the ground rules once they're established?
The project team Once ground rules are established, it's up to a project manager and project team to enforce them. Ground rules for communication Ground rules contribute significantly to improved communication among project team members, improved work relationships, and a better end result for the project. The project manager should assemble key players to establish a shared understanding of the project and share ground rules that will help focus the team and provide the required results. Here are a few common ground rules vouched for by successful project managers: Define how the team will work together: Include information such as frequency of team meetings, names of chairperson and attendees, consensus method, maximum time allowed per speaker, and so on. Define a decision-making process: Will you make decisions by consensus, or by majority vote? What type of verifiable evidence will you require? In case of a tie, who has final say? Who will record decisions? Define a conflict resolution procedure: What process will you use to address conflict? What ground rules, such as a time period, will you set for doing so. Ground rules allow for meaningful dialogue with the aim of producing effective project results, and they must be agreed upon and signed off by everyone involved. Ground rules are not guaranteed to be effective and may need to be revised as needed. Reference: "A Guide to the Project Management Body of Knowledge, ISBN: 978-1-933890-51-7.", " IT Project Management: On Track From Start to Finish by Joseph Phillips, ISBN: 978-0072232028." Lesson: Executing the Project Objective: Project Kickoff
You work as project manager in your company, and you're determining the cost of project resources. Which of the following is not a project resource?
Staffing management plan A staffing management plan is not a project resource. A staffing management plan is not a project resource; it's a subsidiary of an overall project management plan and defines when project team members will be brought onto and released from the project. It describes when and how human resource requirements will be met. Depending on project needs, it can be formal or informal, highly detailed, or broadly framed. The staffing management plan can include staff acquisition, resource calendars, a staff release plan, training needs, recognition and rewards, compliance, and safety. The staffing management plan should be updated throughout the project. According to the PMBOK guide, the staffing management plan should include the following elements: Staff acquisition: Describes how team members are acquired (from inside or outside an organization), where they're located, and the costs for specific skills and expertise. Resource calendars: Defines time frames in which project resources will be needed and when the recruitment process should begin. Resources can be described individually, by teams, or by function (programmers, testers, and so on). Many staffing management plans use a resource histogram, usually in chart form, with project time along the horizontal axis and hours needed along the vertical axis. Staff release plan: Attention should be given to how to release project team members at the end of their assignments. You should have reassignment procedures in place to move them to other projects or back to their pre-project assignments. Doing so reduces overall project costs because you pay them only for their work time, then release them, thus avoiding the need to keep them busy between assignments or until the scheduled end date, should they complete their activities early. Having these procedures in place will also maintain morale, because everyone will be clear about their reassignment, thus reducing post-project employment anxiety. Training needs: Describes training plans necessary for team members without the required skills or abilities to perform project tasks. Recognition and rewards: Describes systems you'll use to reward and reinforce desired work behavior. Compliance: If your project involves regulations or contractual obligations (such as union contracts) that must be met, the staffing management plan should detail these and any human resource policies that deal with compliance issues. Safety: Include in the staffing management plan any safety policies and procedures applicable to the project or its field of industry. Lesson: Communicating the Plan Objective: Human Resources Planning
What's one of the first things you must know before determining risk probability and impact?
Stakeholder risk-tolerance levels Stakeholder risk tolerance levels are one of the most important pieces of information you need going into the risk analysis process. If your organization has a high tolerance for risks, this will cause you to score potential risk events differently than if it had a low tolerance. Lesson: Defining the Cost, Quality, and Risk Plans Objective: Risk Planning
Which of the following techniques assures the project manager that work results are meeting project specifications when there are many such results to inspect?
Statistical sampling When numerous work results require inspection or testing, it's appropriate to use statistical sampling. In statistical sampling, a project manager gathers a subset of all applicable work results and randomly selects a small representative sample for testing or examination. Statistical sampling can be very cost-effective, especially for projects resulting in multiple versions of the same product. Lesson: Controlling the Project Objective: Controlling Quality
Gary, a project manager, and his project team have completed a qualitative risk analysis and are about to begin quantitative risk analysis. However, Mary, the project sponsor, wants to know what their quantitative risk analysis will review. Which of the following best defines what their quantitative risk analysis will review?
The effect of risk events that might substantially impact the project's competing demands Once risk events have passed through qualitative risk analysis, they must be reviewed to determine their effect on the project's competing demands. Reference: "Project Management Body of Knowledge (PMBOK Guide)" Lesson: Defining the Cost, Quality, and Risk Plans Objective: Risk Planning
Which of the following statements best defines quantitative risk analysis?
The process of numerically analyzing the effect of identified risks on overall project objectives Quantitative risk analysis is the process of numerically analyzing the effect of identified risks on overall project objectives. It's performed on risk that has been prioritized through qualitative risk analysis. Lesson: Defining the Cost, Quality, and Risk Plans Objective: Risk Planning
Mary is project manager for her organization. She's working with a project team to define project activities. She's concerned about some dependencies of project work that might affect the project schedule. Which of the following is the best example of a project constraint likely to affect the project's ability to finish by a given deadline?
The project must use the BGH company to deliver the software portion of the project. Of all the constraints listed, only this is an external dependency that can directly affect a project manager's control over project work. If the BGH company is late delivering the project software, this will likely have an effect on the project's ability to complete the project on time. Lesson: Schedule Planning Objective: Creating the Project Schedule
You're manager of a large, high-priority project. There are several negative risks that might affect its ability to finish on time. Should the project be late, your organization will face fines of $100,000 per day past the due date. However, should your project complete early, your organization will receive $100,000 per day. Management has asked you to analyze the project to determine how early it might finish. What project plan and its section can help you most in this scenario?
The project schedule management plan and its float calculations The project schedule management plan and its float calculations can help you determine the earliest date for project completion. Float, or slack, is the amount of time an activity can be delayed without affecting subsequent activities. There are two types of floats: Free Float: The amount of time a schedule activity can be delayed without delaying the early start date of any immediately following schedule activities. Total Float: The total amount of time a schedule activity can be delayed from its early start date without delaying the project finish date or violating schedule constraint. You calculate float using the critical path method technique. Lesson: Executing the Project Objective: Forming and Developing the Project Team
During project execution, its manager carries out an earned value management and determines that the CPI is 1.2 and the SPI is .75. What do these figures indicate?
The project's under planned cost and behind schedule. Cost performance index (CPI) is a measure of the value of work completed at a given measurement date against its actual cost. Schedule performance index (SPI) is a measure of progress to date against planned progress. Because, in this scenario, the CPI is greater than 1 and the SPI is less than 1, it indicates that the project is under planned cost and behind the schedule, respectively. Lesson: Controlling the Project Objective: Overview
According to a project's schedule, the project continues through its life cycle and the project manager approves some changes. What effect do approved changes have on the project? Each correct answer represents a complete solution. Choose all that apply.
They can increase overall project cost. They can decrease overall project cost. They can hold project cost. As a project continues through its life cycle, approved changes have the following effect on it: They can increase overall project cost. They can hold project cost. They can decrease overall project cost. Lesson: Controlling the Project Objective: Overview
You're a project manager for uCertify, Inc. You need definite dates for deliverables to be transferred to the organization. Which of the following objectives of the transition plan will you use to accomplish the above task?
Transition dates The objectives of a transition plan are: Transition dates: There needs to be a definite date for deliverables to be transferred to the organization, and an account of conditions for deliverables to be moved from project management to operations management. Ownership: When you've completed a project and created a set of deliverables, someone must now be responsible for management of deliverables. The transition plan describes ownership of project deliverables and designates someone responsible for maintenance and upkeep of deliverables. Training: The project team needs to train recipients of deliverables and define their use and maintenance through training manuals, train-the-trainer sessions, hands-on exercises, or a combination of knowledge transfer events. Extended support: It's important to provide some extended support, depending on the type of project and the deliverables. Extended support requires the project team and operations team to work together as the new technology is applied, so that the operations team can learn about the deliverables and their implementation. Warranties: There must be some warranty information about project deliverables if the project was completed by a vendor for a client. The warranty must be detailed in the project contract and discussed during the operations transfer. Reference: CompTIA Project+ Study Guide: Exam PK0-003, Contents: "Executing the Project" Lesson: Defining the Cost, Quality, and Risk Plans Objective: Project management plan sign-off and transition
You're a project manager at uCertify, Inc. You have to describe ownership of project deliverables and authorize someone for their maintenance and upkeep. Which of the following plans will you use to accomplish the above task?
Transition plan The objectives of a transition plan are: Transition dates: There needs to be a definite date for deliverables to be transferred to the organization, and an account of conditions for deliverables to be moved from project management to operations management. Ownership: When you've completed a project and created a set of deliverables, someone must now be responsible for management of deliverables. The transition plan describes ownership of project deliverables and designates someone responsible for maintenance and upkeep of deliverables. Training: The project team needs to train recipients of deliverables and define their use and maintenance through training manuals, train-the-trainer sessions, hands-on exercises, or a combination of knowledge transfer events. Extended support: It's important to provide some extended support, depending on the type of project and the deliverables. Extended support requires the project team and operations team to work together as the new technology is applied, so that the operations team can learn about the deliverables and their implementation. Warranties: There must be some warranty information about project deliverables if the project was completed by a vendor for a client. The warranty must be detailed in the project contract and discussed during the operations transfer. Reference: CompTIA Project+ Study Guide: Exam PK0-003, Contents: "Executing the Project" Lesson: Defining the Cost, Quality, and Risk Plans Objective: Project management plan sign-off and transition
You work as a project manager for uCertify, Inc. You're working with your team to validate a project. A new team member wants to know the steps involved in validating a project. How will you reply? Each correct answer represents a complete solution. Choose all that apply.
Validate the business case. Identify and analyze the stakeholders. The steps involved in validating a project are as follows: Validate the business case, which includes feasibility analysis, justification for the project, and alignment to the strategic plan. Identify and analyze the stakeholders. Reference: CompTIA Project+ Study Guide: Exam PK0-003, Content: "Initiating the Project" Lesson: Initiating the Project Objective: Defining the Project
Which of the following documents is described in the statement below? "It's a companion document to a WBS that describes each component of the WBS. It includes a brief definition of scope or statement of work, defined deliverables, a list of associated activities, and a list of milestones. It details all work packages in the WBS, including estimates and billing information."
WBS dictionary The work breakdown structure (WBS) dictionary is a companion document to the WBS that describes each WBS component. It includes a brief definition of scope or statement of work, defined deliverables, a list of associated activities, and a list of milestones. It details all work packages in the WBS, including estimates and billing information. The WBS dictionary describes Deliverables Acceptance criteria Quality requirements Time estimates and milestones Cost estimates Contract information (if applicable) A responsible individual or department Lesson: Planning a Project Objective: Creating the Work Breakdown Structure (WBS)
You work as a project manager for uCertify, Inc. You have to detail all work packages in a WBS, including estimates and billing information. Which of the following documents will you use to accomplish the task?
WBS dictionary The work breakdown structure (WBS) dictionary is a companion document to the WBS that describes each WBS component. It includes a brief definition of scope or statement of work, defined deliverables, a list of associated activities, and a list of milestones. It details all work packages in the WBS, including estimates and billing information. The WBS dictionary describes Deliverables Acceptance criteria Quality requirements Time estimates and milestones Cost estimates Contract information (if applicable) A responsible individual or department Reference: CompTIA Project Study Guide: Exam PK0-003, Contents: "Planning a project" Lesson: Planning a Project Objective: Creating the Work Breakdown Structure (WBS)
You work as a project manager for Honeywell, Inc. You've been distributing performance information, including status reports, progress measurements, and forecasts to various stakeholders. A company trainee wants to know the various inputs for generating performance reports. What will you tell her? Each correct answer represents a part of the solution. Choose two.
WPI WPM For this scenario, you can use the following inputs to generate performance reports: WPI (work performance information): The data gathered on status of project schedule activities performed to accomplish project work. The data are collected as part of the direct and manage-project-execution processes. WPI includes: Deliverables status Schedule Progress Costs incurred WPM (work performance measurements): Created from the WPI, WPMs are an output of control schedule, control cost, and control scope processes, which are themselves monitoring and controlling processes. WPMs consist of planned versus actual performance indicators with respect to scope, schedule, and cost. They're documented and communicated to stakeholders, and used to make project activity metrics such as: Planned versus actual technical performance and scope performance Planned versus actual schedule performance Planned versus actual cost performance Lesson: Executing the Project Objective: Forming and Developing the Project Team
When should you seek a sponsor's recommendations to either kill a project or come up with an alternative strategy? Choose three options.
When costs grossly exceed the original budget When an activity is insurmountable When the time it takes to complete one or more tasks grossly exceeds original estimates When a project's costs exceed its budget, you must solicit input from its sponsor regarding what to do next. When the time it takes to complete one or more tasks grossly exceeds original estimates, or you find that a project activity is impossible to perform, it's time to visit with the stakeholders and project sponsor to see whether you need an extension or whether it's time to kill the project. If the sponsor loses interest, it's time to talk with the sponsor, not necessarily to pull the plug on the project. For more information, please see Chapter 8. Lesson: Processing Change Requests Objective: Establishing Performance Measures
Which document are you working on when you're decomposing project deliverables?
Work breakdown structure A work breakdown structure is created by decomposing deliverables to a level at which cost and time estimates can be performed. Lesson: Planning a Project Objective: Creating the Work Breakdown Structure (WBS)
