3010 final short answer

If a project has a 50 percent probability of making $100 and a 50 percent probability of making no money at all, what is its expected monetary value?

$50

In face-to-face interactions, what percent of communications is through the actual spoken content?

38%

What does RACI stand for in a RACI chart?

A RACI chart is a type of RAM that shows Responsibility, Accountability, Consultation, and Informed roles for project stakeholders.

What is a black swan project?

A black swan project is a project that costs a business its livelihood and ultimately runs the organization out of business because of its failure.

The additional percentage or dollar amount by which actual costs exceed estimates is known as a(n) _____.

A cost overrun

What type of chart is used to show resource loading?

A histogram

What is the critical path on a project?

A series of activities that cand determine the earliest time the project can be completed

What is the difference between a status report and a progress report? Give an example of each.

A status report describes where the project stands at a specific point in time. An earned value analysis is an example of a status report. A progress report describes what the project team has accomplished during a certain period of time. A weekly activity report is an example of a progress report.

The ideal outcome of the _____ process group is to complete a project successfully by delivering the agreed-upon project scope within time, cost, and quality constraints. Monitoring and controlling

A(n) _____ describes how things should be done.

The _____ is a tabulation of activities to be included on a project schedule.

Activity list

A(n) _____ forces meeting organizers to plan the meeting and gives potential participants the chance to decide whether they need to attend.

Agenda

In Scrum, a(n) _____ is a useful object created by people.

Artifact

A(n) _____ is a strategic planning and management system that helps organizations align business activities to strategy, improve communications, and monitor performance against strategic goals.

Balanced scorecard

_____ is a technique by which a group attempts to generate ideas or find a solution for a specific problem by amassing ideas spontaneously and without judgment.

Brainstorming

What project management certifications can students earn without work experience?

CAPM

Many experts agree that the greatest threat to the success of any project, especially information technology projects, is a failure to _____.

Communicate

In the DMAIC process, the letter "C" stands for _____.

Control

What is the formula for calculating cost variance?

Cost Variance = Earned Value - Actual Cost

In practice, many people find that using a combination or hybrid approach involving analogous, bottom up, and/or parametric modeling provides the best _____.

Cost estimates

The main outputs of the _____ process are activity cost estimates, basis of estimates, and project document updates.

Cost estimating

Suppose you sell ten widgets per day on average, and the average cost per widget is $10. If you sold eleven widgets in one day, what would the effect on profits be?

Cost of the widgets is given and we need to estimate profits, but since I do not know what the average profit per widget is, it's possible we could lose profit by producing more widgets

The _____ ultimately decides if quality is acceptable.

Customer

Subdividing the project deliverables into smaller pieces is known as _____.

Decomposition

Which step in project time management sounds like it belongs under scope management?

Defining activites

In which process group should you spend the most time and money?

Executing

What types of influence are correlated with successful projects?

Expertise and work challenge

What is the most common type of task dependency?

Finish-to-start dependency

Three general classifications of organizational structures are _____, project, and matrix.

Functional

Some organizations prescribe the form and content for WBSs for particular projects. These are known as _____.

Guidelines

_________ issues often occur during project execution, especially conflicts.

Human resources

A major element of good practice concerns _____, which addresses the authority and control for key IT activities in organizations, including IT infrastructure, IT use, and project management.

IT Governance

One main output of the _____ process is a risk register.

Identifying risks

_____ communication happens when two or more people to exchange information via meetings, phone calls, or video conferencing.

Interactive

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

Interface management

_____ power is getting people to do things based on a position of authority.

Legitimate

_____ costing considers the total cost of ownership, or development plus support costs, for a project.

Life cycle

Modern project management began with what project?

Manhattan project

What type of organizational structure gives the least amount of authority to project managers?

Matrix

What type of organizational structure has project team members reporting to at least two bosses?

Matrix

Name two characteristics of organizational culture that help project management.

Member Identity, and Group emphasis

Risk _____ refers to reducing the impact of a risk event by reducing the probability of its occurrence.

Mitigation

What is the formula for determining the number of communications channels?

N * (N-1) / 2

Project managers must conduct cash flow analysis to determine _____.

Net present value

A(n) _____ is a schematic display of the logical relationships among project activities and their sequencing.

Network Diagram

Soft skills are also known as _____ skills.

People

_____ are normally provided as status reports or progress reports.

Performance reports

Which project management process group(s) includes activities from every single knowledge area?

Planning

_____ is the ability to influence behavior to get people to do things they would not otherwise do.

Power

_____ refer to undesirable situations that prevent an organization from achieving its goals.

Problems

A(n) _____ is the person responsible for the business value of the project and for deciding what work to do and in what order when using a Scrum method.

Product owner

Who created fishbone diagrams, and what are they used for?

Professor Kaoru Ishikawa, The technique uses a diagram-based approach for thinking through all of the possible causes of a problem.

What is PERT?

Program evaluation and review technique

Project costs, like project schedules, grow out of the basic documents that initiate a project, like the _____.

Project charter

Name two tools and techniques that are unique to project management.

Project chater, scope statement, wbs scope, gantt charts, network diagrams, and critical path analysis

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

Project integration management

The main goal of controlling communications is to ensure the optimal flow of information throughout the entire _____.

Project life cycle

What is the designation for people certified as project managers by the Project Management Institute?

Project management professional PMP

_____ includes the processes involved in defining and controlling what work is or is not included in a project.

Project scope management

What three knowledge areas comprise the triple constraint of project management?

Project scope, time, and cost

_____ issues that affect how people work and how well they work include motivation, influence and power, and effectiveness.

Psychosocial

All meetings must have a(n) _____ and intended outcome.

Purpose

Give an example of a hygiene factor, as defined by Herzberg.

Relationships with co-workers and supervisors

_____ is the ability of a product or service to perform as expected under normal conditions.

Reliability

What are the phases of the traditional project life cycle?

Requirement Analysis, system design, implementation, testing, deployment, maintenance.

Name one document that is a key input of a project scope statement.

Requirements management plan

What do the letters RAM stand for as they relate to project human resource management?

Responsibility Assignment Matrix

_____ involves accepting the consequences should a risk occur.

Risk Acceptance

_____ are numbers that represent the overall risk of specific events, based on their probability of occurring and the consequences to the project if they do occur.

Risk factors

What does risk mitigation mean? Provide an example of how to mitigate risk in a project.

Risk mitigation means reducing the impact of a risk event by reducing its probability of occurrence. For example, you could assign a very experienced project manager to a project to mitigate the risk of poor management.

A(n) _____ involves analyzing a company's strengths, weaknesses, opportunities, and threats, and is used to aid in strategic planning.

SWOT analysis

In a(n) _____, the closer data points are to a diagonal line, the more closely the two variables are related.

Scatter diagram

What are the seven main processes of integration management?

Scope, time, cost, quality, communication, risk, procurement

Watts S. Humphrey defines a(n) _____ as anything that must be changed before delivery of the program.

Software defect

A(n) _____ is a set period of time, normally two to four weeks, during which specific work must be completed and made ready for review when using Scrum methods.

Sprint

_____ involves determining long-term objectives by analyzing the strengths and weaknesses, studying opportunities and threats, predicting future trends, and projecting the need for new products and services.

Strategic planning

When using project management software, estimates of work time should be entered only at the work package level; the rest of the WBS items are just groupings or _____ tasks.

Summary

_____ are the screens and reports the system generates.

System outputs

_____ are sets of interacting components working within an environment to fulfill some purpose.

Systems

_____ addresses the business, technological, and organizational issues associated with creating, maintaining, and modifying a system.

Systems analysis

A hierarchy is used to show the levels of _____ in the WBS.

Task

The three spheres of systems management are business, organization, and _____.

Technology

What is the main purpose of a project management plan?

That everyone can use and be involved in the project to help communicate information and processes

What document describes detailed information about each WBS item?

The WBS dictionary

Some of the adaptive approaches to developing systems are becoming more popular. Are they better or more appropriate than prescriptive approaches in most cases? Why or why not?

The adaptive approach seems to be better for smaller projects or IT projects, while the traditional approach would be more effective for larger projects.

What approach to creating a WBS allows people to use a less structured, non-linear format?

The mind mapping approach

Which is better: Three Sigma, Four Sigma, Five Sigma, or Six Sigma?

Three Sigma allows for a greater number of defects per million, whereas Six Sigma requires near-perfect accuracy.

In a project schedule, the variable that has the least amount of flexibility is _____.

Time

A(n) _____ Gantt chart compares planned and actual project schedule information.

Tracking

_____ are indicators or symptoms of actual risk events.

Triggers

In project management, the three limitations of scope, time, and cost are referred to as the _____. Triple constraint

Triple constraint

What are the most important success criteria for information technology projects according to the Standish Group?

User involvement, executive management support, and a clear statement of requirements

Many information technology professionals work on _____ projects where they never meet their project sponsors, other team members, or other project stakeholders.

Virtual

A(n) _____ is a document that describes detailed information about each WBS item.

WBS dictionary

Name one of the unique outputs of planning used in Scrum.

Work for each day in the daily scrum and a list of stumbling blocks.

Methodology

_____ are people involved in or affected by project activities and include the project sponsor, project team, support staff, customers, users, suppliers, and even opponents to the project. Stakeholders

A _____ is a starting point, a measurement, or an observation that is documented so that it can be used for future comparison. changes.

baseline

Accountants define _____ as a resource sacrificed or foregone to achieve a specific objective.

cost

According to Maslow, only after meeting _____ needs can individuals act upon growth needs.

deficiency

_____ is the number of workdays or work hours required to complete a task.

effort

Herzberg called factors that cause job satisfaction _____.

motivators

_____ refer to chances to improve the organization.

opportunities

The International Organization for Standardization (ISO) defines _____ as "the totality of characteristics of an entity that bear on its ability to satisfy stated or implied needs."

quality

_____ refer to "conditions or capabilities that must be met by the project or present in the product, service, or result to satisfy an agreement or other formally imposed specification."

requirements

A project _____ is an uncertainty that can have a negative or positive effect on meeting project objectives.

risk

Define quality and what is meant by stated and implied needs.

the totality of features and characteristics of a product or service that bears on its ability to meet a stated or implied need