630 Exam 1

if one triple constraint is expanded then the others need to be __:

adjusted

define high end PM software tools

also called enterprise pm software, often licensed on a per user basis

Project Closing: Involves gaining SH and customer __ of final products and services. Even if projects are not completed, they should be formally closed in order to __ on what can be learned to improve future projects.

approval/acceptance reflect

Project Closing: Key outputs -Project a__ -Lessons l__ The above mentioned are examples of what? Most projects also include a final report and presentation to whom?

archives learned these are organizational process assets Sponsor and top management

In a Cost-Benefit Analysis, you compare expected costs to potential __. A benefit cost ratio of 1.5 means? -If CBA <1 then the benefits derived do not __ costs, but you still may pursue projects because it may be __ mandated/boss telling you etc.

benefits the revenue is 1.5 times the cost outweigh government

It is unacceptable to select a project without a sound __ case. It must fit the strategies of the business and add __ to the system(s) and processes

business value

Change control system Step 2. __ __ As early in project as possible. When potential for change emerges, people may get fearful of impact - give them facts rather than rumors so you're all on same page

communicate change

Describe each of these types of suggested skills for successful PMs -communication skills -organizational skills -team building skills -leadership skills -coping skills -technology skills

communication: listens, persuades organizational: plans, sets goals, analyzes team building" shows empathy, motivates, promotes espirit de corps leadership: sets examples, provides vision (big picture) delegates, positive, energetic -coping: flexible, creative, patient, persistent -technology: experience, project knowledge

Project Planning: Main outputs -A team __ -__ Statement -WBS -Project __ (Gantt chart) -List of prioritized __ (part of risk register)

contract scope schedule risks

PM Int Process Continued: 4.) Monitor and __ Project Work: Oversee project work to meet the performance objectives of the project 5.)Perform __ Change Control: Coordinate changes that affect the projects deliverables and org process assets 6.) Close the Project: Finalize all project activities and __close the project

control integrated formally

Many experts believe that underlying causes of many companies' problems are not the structure or staff, but the __

culture

is a set of shared assumptions, values, and behaviors that characterize the functioning of an organization.

culture

What are some goals of PMOs? -Collect, organize, and integrate project __ for the entire organization. -Develop and maintain __ for project documents. -Develop or coordinate __ in various project management topics. -Develop and provide a formal __ path for project managers. Provide project management __ services. -Provide a structure to __ project managers while they are acting in those roles or are between projects.

data templates training career consulting house

Project plans are unique and should be -d__ -f__ -Updated as __ occur

dynamic flexible changes

There are activities from __ knowledge area under the planning process group All __activities are a part of the Project Integration Management Knowledge area

each initiating

Change Control System: Step 3. __ __ What and how this change will be achieved. The more interactions you have, the more you learn how to guide team through change journey and how to lead

educate stakeholders

Organizational standards and guidelines help PMs be more __. Senior Mgmt can encourage: -Use of standard forms and __ for PM -The development and use of __ for writing project plans or providing status information -The creation of a __ __ __ or center of excellence

effective software guidelines PMO

effective PMs provide leadership by __: A __ focuses on long term goals and big picture objectives while inspiring people to reach those goals. A __ deals with the day-to-day details of meeting specific goals.

example leader manager PMs often take on both roles

project plans should first and foremost guide project __ by helping the PM lead the project team and assess status

execution

Project Planning: Main purpose of project planning is to guide __ -Every knowledge area includes __ info

execution planning

The majority of time and money in a project is spent in the __ phase. The application area of the project directly affects project execution because the products of the project are being __ during project execution.

execution produced

To close a project, you must __ all activities and transfer the completed or cancelled work to the appropriate people.

finalize

__ considerations are often an important aspect of the project selection process.

financial

advanced planning -- __ decisions

focused

Change Control System Step 1. __ __ __ __ plan of activities. Consider variety of activities appealing to various stakeholders. As part of this plan, ensure that you and SH clearly understand obj of change, what the change means to org and as well as your SH as individuals

formulate and plan change

Org Structures: __ These managers report to CEO

functional

define mid range PM software tools

handle multiple projects and users; cost $200-500 per user (most popular is Project 2003)

define low end PM software tools

handle single or smaller projects well; cost under $200 per user

This necessary PM skill includes product knowledge and knowing how to use project management tools and techniques.

hard skills

Financial Consideration Methods: IRR -The __ the IRR the better -An IRR is the "__" discount rate that an investment yields -Mathematically, IRR = the DR that yields a NPV of $__ when applied to the CFs of an invst -IRR needs to be compared to hurdle rate, and even if it is acceptable you still need to eval __ factors

higher ture $0 qualitative

In general, the systems approach means to take a __ approach to solving complex problems

holistic

What are the ten characteristics of org culture: -Member i__ -Group e__ -People f__ - Unit i__ -C__ -Risk t__ -Reward c__ -Conflict t__ -Means-end o__ -Open systems f__

identify emphasis focus integration control tolerance criteria tolerance orientation focus

process for making changes: -Evaluate the i__ -Identify __ -Get the change request approved __ -Get customer __-in (if internal)

impact (esp. on trip constraint) options internally buy

In the middle phases of a project life cycle: -The certainty of completing a project __ -More __ are needed

increases Resources

Predictive Life Cycle Models: __ __ __ Provides for progressive development of operational software. This provides for less disruptive installations and gets people used to a system before they have to get used to the whole thing at once.

incremental build model

project planning and execution are intertwined and __ activities. PMs must solicit input from the team to develop __ plans

inseparable realistic

many people consider __ mgmt to be the key to overall project success

integration

when you divide up the project into pieces, but the pieces dont fit back together

integration risk

A balanced scorecard measures how a company organizes __ __ __(KPIs)

key performance indicators

Management reviews, also called phase exits or __ __, should occur after each phase to evaluate the project's progress, likely success, and continued compatibility with org __.

kill points goals

PMs must coordinate all of the other __ __ throughout a projects LC

knowledge areas

In the early phases of a Project Life Cycle: -Resource needs are usually at their __ -The level of __ is the highest -Project SH have greatest opportunity to __ project.

lowest uncertainty influence

Project Initiation: Key Outputs -Assigning project __ -Identifying key stake__ -completing a business __ -completing a project __and getting signatures on it

manager stakeholders case charter

some people argue that the pyramids were a project, or the great wall of china. most people consider which project to be the first project to use "modern" project management

manhattan project this 3 year $2 billion project had a separate project and technical manager

Org Structures: __ Middle ground between functional and project structures; personnel often report to two or more bosses. Structure can be weak, balanced or __ matrix.

matrix strong

change control system step 5: Put __ in place to assess change's __. May have to plan interim as tested and then again as stabilized. (ex. Of new machinery in a factory - people need to learn how to use it so not as effective right away)

measurements, effectiveness

What are the 3 important criteria for projects? -There is a __ for the project -There are __ available -There is a strong __ to make project succeed

need funds will

Change Control System Step 4: Examine __ or __ roles New roles need to be in place and working well for change to be effective. New roles can be opp for SH to transform feared change to one that inspires growth and way to contribute to org. can motivate SH but only if role is understood and planned appropriately otherwise there can be chaos and unfulfilled project objectives or disappointed SH

new or changed

this work done to sustain the business. This is routine work.

operations

many new managers try to change __ __ when other changes are needed

org structure

Projects cannot be run in isolation because they tie together. They must operate in a broad __ environment.

organizational

Elements of a PM Plan Introduction or __ of the project. Description of how the project is __. Management and technical __ used on the project. Work to be done, __, and budget information.

overview organized processes schedule

Financial Consideration Methods: Length of time to recover an investment

payback period

Monitoring project work includes collecting, measuring and disseminating __ info. Two important outputs of monitoring and controlling include -recommended __ actions -recommended __ actions

performance corrective preventative

Project Initiation: Initiating a project includes recognizing and starting a new project or project __. Some orgs use a pre-business phase while others include items such as developing a business __ as part of initiation.

phase case

PMs must lead by example to demonstrate the importance of creating and then following good project __ Org culture can help execution by -providing guidelines and __ -tracking __ based plans

plans templates performance

A series of actions directed toward a particular result PM can be viewed as a number of interlinked processes

process

program managers oversee __ and often act as bosses for __ __

programs project managers

Project Monitoring and Controlling: -Involves measuring __ toward project objectives, monitoring deviation from __, and taking corrective action to match progress with the plan. -Affects all other process groups and occurs during __ phases of project life cycle

progress, plan all

a project is developed using __ __:

progressive elaboration (investigation, planning, analysis, design, development, implementation, maintenance)

Org Structures: __ Program managers report to the CEO

project

Where is the project purpose outlined

project charter/scope statement

the application of knowledge, skills, tools and techniques to project activities to meet project requirements.

project management

a document used to coordinate all project planning documents and help guide a project's execution and control. It integrates all of the other plans including baselines.

project management plan Plans created in other knowledge areas are subsidiary parts of the overall pmp

which other people do PMs work with the complete or meet project goals?

project sponsors project teams and other people involved in projects.

Predictive Life Cycle Models: __ __ Used for developing prototypes to clarify user requirements

prototyping model

"Other Methods" for selecting projects: Focus on something other than the #s -An invst effect on the __of products and services offered -An invst effect on __ that prod and svcs can be produced and given to cust -Other qualitative factors -Government __ -Pollution control/__ protection -Worker __ -Preferences of __ and mgmt Cost, quality and time must all be taken into consideration

quality time regulations environmental safety owners

Many organizations today have a new or __ interest in project management

renewed

Project Monitoring and Controlling: Key outputs -Performance ___ -Requested __ -Updates to various __

reports changes plans

In the final phase of a project life cycle -The focus is on ensuring that the project __ were met -the sponsor approves __ of the project

requirements completion

Top managers can help PMs: -Secure adequate __ -Get __ for unique project needs in a timely manner -Receive __ from people throughout the organization -Learn how to be better __

resources approval cooperation leaders

A project often involves uncertainty. This is akin to __: uncertain if we can finish project within budget, on time, competency of employees, natural disasters, global economy - this list is endless

risk

Financial Consideration Methods: Payback Period -Crude measure of investment __. How long will it take for cash inflow to = __ __ __? -What is equation?

risk initial cash outlay initial inv/inflows=PP time (where x's cross on graph)

What are the 15 PM Job Functions? -Define s__ of project -Identify s__, decision makers, and escalation procedures -Develop detailed t__ list(WBS) -Estimate time r__ -Develop initial project mgmt f__ c__ -Identify required resources and b__ -Evaluate project r__ -Identify and evaluate r__ -Prepare c__ plan -Identify inter__ -Identify and track critical m__ -Participate in project phase r__ -Secure needed r__ -Manage the c__ control process -Report project s__

scope stakeholders task requirements flow chart budget requirements risks contingency interdependencies milestones review resources change status

triple constraint

scope time cost PMs duty to balance these three often competing goals

what are the 10 knowledge areas of PM

scope time cost quality HR Communication Risk Procurement management project integration management stakeholder management

What is the document that is used to develop and confirm a common understanding of the project scope? It is an important tool for preventing scope creep A good practice is to develop a preliminary or __ scope statement during project initiation and a more __scope statement as the project progresses

scope statement initial detailed

Project Initiation: The main goal of project initiation is to formally __ and start off projects

select

Steps in identifying a weighted scoring model: -Identify criteria important to the project __ process -Assign __ (%) to each criterion so they add up to 100)% -Assign scores to each __ for each project -Multiply the scores by the weights to get total weighted scores (the higher the better)

selection weights criterion

This necessary PM skill includes being able to work with various types of people.

soft skills

PM int. is not the same thing as __ integration

software integration

A project should have a primary customer or __. This person/group usually provides the direction and funding for the project.

sponsor

These docs are important info about stakeholders that are often sensitive and kept private

stakeholder analysis Like maybe if Erik likes Mexican food you can take him to get some @Cole

these are the people involved in or affected by project activities.

stakeholders Stakeholders include: Project sponsor Project manager Project team Support staff Customers Users Suppliers Opponents to the project

Project managers must take time to identify, understand, and manage relationships with all project __. They must also understand __.

stakeholders expectations

__ __: Determine long term objectives, predict future trends and project the need for new products and services.

strategic planning

Which of the 4 frames is most often focused on? Why?

structural - most people understand what org charts are

4 frames of PM: __ Focuses on roles and responsibilities, coordination, and control. Organization charts help define this frame Ex?

structural frame Ex: should IT personnel be centralized in one department or distributed throughout the organization in various departments?

A project should __ pass through each section of the project phases in order to continue on to the next

successfully

Systems Thinking: problem solving approach

systems analysis

Systems Thinking: __ __:address business, technological, and organizational issues before making changes to your systems

systems management

Systems Thinking: View things as systems, which are interacting components that work within an environment to fulfill some purpose.

systems philosophy

Project management tools and __ assist project managers and their teams in various aspects of project management.

techniques

what is scope creep

the tendency of a project to keep getting bigger

As part of strategic planning, orgs should identify potential __, use realistic methods to __ projects to work on and __ project initiation by using a project charter.

threats, select, formally

"What the winners do" Companies that excel in project delivery capability: -Build an integrated project management __(use standard/advanced PM tools, lots of templates) -Grow competent project leaders, emphasizing business and __ skills -Develop streamlined, __ project delivery processes -Install a sound but comprehensive set of project performance __

toolbox soft consistent metrics

Several studies cite __ __ commitment as one of the key factors associated with project success.

top management

Financial Consideration Methods: NPV -Projects with positive NPV should be considered if financial __ is key criterion. -The __ the NPV the better -The higher a project's risk, the higher its __ rate

value higher discount

Predictive Life Cycle Models: __ __ Has well defined, linear stages of systems development and support

waterfall model shaped like an arrow

In a Gantt chart, the __ __ __ is shown to the left and each task's start and finish dates are shown on the right.

wbs

This is a project selection tool that provides a systematic process for selecting projects based on many criteria.the higher the weighted score, the better. This is a good way to evaluate multiple __ of a project.

weighted scoring model facets - pretty subjectively

unforeseen risks

white space risk (govt regulations, 9/11)``

Computer hardware, software, networks, and the use of interdisciplinary and global work teams have radically changed the __ __

work environment

What are the 9 advantages of using formal PM

Better control of financial, physical, and human resources. Improved customer relations. Shorter development times. Lower costs. Higher quality and increased reliability. Higher profit margins. Improved productivity. Better internal coordination. Higher worker morale (less stress)

What are the 3 basic org structures?

Functional Project Matrix

What are the project management process groups? -I__ -P__ -E__ -M__ and Controlling processes -C__ processes

Initiating Planning Executing Monitoring Closing

What are the two types of SLDC models?

Predictive Adaptive

What is a business case?

What benefits will derive from spending the time and money on this project over another

This is a project selection process methodology that converts an org's value drivers, (i.e. cust service, innovation, op efficiency, and fin. perf.) to a series of defined metrics. It views the org from __ different perspectives

balanced scorecard 4

the approved PM plan plus approved changes

baseline

Having a strong methodology can have broad range of __ for org

benefits

senior managers need to make sure projects continue to support current __ needs.

business

PM should be comfortable with __, understand the __ they work with (who to go to, standard op proc etc.), and __ teams to accomplish goals. they need both __ and soft skills

change organizations lead hard

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

change control board

A formal, documented process that describes when and how official project docs and work may be changed. It describes who is authorized to make changes/how to make them

change control system

__ to the baselines are considered __. There is typically a change __ system

changes carefully control

Initially, project management(PM) was mainly used for very large, __ projects

complex

things planned are never completed

execution risk

Change Control boards provide __ for preparing change requests, evaluating change requests and managing __ of approved changes. They include SHs from entire org

guidelines implementation

SDLC is a framework for describing the phases involved in developing __ __

information systems

What you give up by selecting a project

opportunity cost (can be financial or something like customer service, response time, etc)

Many firms follow a __ process for selecting IT projects. Crucial to align IT projects with business __.

structured strategy

what is systems thinking

taking a holistic view of a project and understanding how it relates to the larger organization

specific tools and techniques used by PMs are

-Project charters, scope statements, and WBS (scope). -Gantt charts, network diagrams, critical path analyses, critical chain scheduling (time). -Cost estimates and earned value management (cost).

48 hour policy

A "48-hour policy" allows project team members to make a decision and have 48 hours to seek approval from top management. If the team decision cannot be implemented, management has 48 hours to reverse a decision; otherwise, the team's decision is approved.

What is a program?

A group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually

when does a project end?

A project ends when its objectives have been reached, or the project has been terminated.

define project

A project is "a temporary endeavor undertaken to create a unique product, service, or result."* Instead of "temporary", we may think of a project as at least having an end date

SDLC Model: Projects are mission driven and component based, and use time-based cycles to meet target dates.

Adaptive Software Development life cycle

in the survey, which 2 skills were the top IT skills according to respondents

App development and PM

Need for org commitment to IT: -Having a __ at a high level in the org helps IT projects. It generally means the company thinks highly of IT since they invited one to the board. Assigning non-__ people to IT projects also encourages more commitment

CIO non-IT people

This type of software integrates information from multiple projects to show the status of active, approved, and future projects across an entire organization. It also provides links to more detailed information on each project.

Enterprise PM Software

Adaptive Life Cycle Models: __ __ (XP) Developers program in pairs and must write the tests for their own code. XP teams include developers, managers, and users.

Extreme Programming

4 frames of PM: __ Focuses on providing harmony between needs of the organization and needs of people. Mismatches exist between orgs and __. The org needs to resolve these potential problems. ex?

HR Frame individuals Ex: Unrealistic time schedules

what are the 4 categories in the project portfolio risk matrix

High Risk, High Payoff Low Risk, High Payoff High Risk, Low Payoff Low Risk, Low Payoff

Financial Consideration Methods: Unadjusted Rate of Return -Equation? - Refers to the fact that calculations are not adjusted for TVM. based on __ not cash flow measures

Increase in Future Avg NI / Initial Invst Cost income

Financial Consideration Methods: To calculate the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time.

NPV

In a __ __ chart, each box is a project task from the WBS. Arrows show __ between tasks. The bolded tasks are on the critical path. If any task on the critical path takes longer to complete than planned, the whole project will slip unless something is done. These were first used in 1958 on the __ __ project before project management software was available.

Network Diagram dependencies Navy Polaris

Describe a PMO

Organizational group that coordinates the PM function throughout an org.

what is the business strategy of project portfolio management

Organizations group and manage projects as a portfolio of investments that contribute to the entire enterprise's success.

4 frames of PM: __ Assumes organizations are coalitions composed of varied individuals and interest groups. Conflict and power are key issues. Project managers need to be aware of politics and __

Political Frame Power

SDLC Model: The scope of the project can be clearly articulated and the schedule and cost can be predicted.

Predictive Life Cycle

PM Int. Process: 1.) Develop __ __: Work with SH to create the doc that formally authorizes the project 2.)Develop the __ __ plan: Coordinate all planning efforts to create a consistent, coherent document. 3.)Direct and manage __ __: Carry out the PM plan by performing activities included in it

Project Charter Project Management Plan Project Execution

What is a collection of project phases that defines: What work will be performed in each phase. What deliverables will be produced and when. Who is involved in each phase. How management will control and approve work produced in each phase.

Project life cycle

what are the typical size and length of projects?

Projects can be large or small and take a short or long time to complete.

Predictive Life Cycle Models: __ __ __ Used to produce systems quickly without sacrificing quality (uses prototyping and spiral/iterative development)

RAD

Project Execution: -Usually takes the most time and __ -PMs must use their __ skills to handle the many challenges -Many project sponsors and customers focus on __ related to providing the products, services, or results from desired project. -A __ report can keep the focus on completing major milestones

Resources Leadership deliverable milestone

rapid results initiatives: completing smaller project __ within shrunken time span __ oriented: measurables result rather than recommendations or analysis. this allows the project planner to test whether the activities in overall plan will add up together vertical: includes a little bit of several __ activities and people from those activities. This is beneficial because it allows us to find problems earlier than regular method fast: does not last longer than __ days this is beneficial because it fosters a sense of personal challenge and urgency

Result horizontal 100

Adaptive Life Cycle Models: __ Iterative development in which repetitions are referred to as sprints, which normally last thirty days. Teams often meet each day for a short meeting, called a scrum, to decide what to accomplish that day. Works best for object-oriented technology projects and require strong leadership to coordinate the work.

Scrum

Predictive Life Cycle Models: __ __ Shows that software is developed using an iterative or spiral approach rather than linearly. Same steps as in SDLC 620

Spiral Model

SWOT Analysis

Strengths Weaknesses Opportunities Threats

What are the 4 frames of PM

Structural HR Political Symbolic

using the 4 frames of orgs can help you meet SH expectations and needs. What are the 4 frames

Structural Political HR Symbolic Senior execs are v important SHs

4 frames of PM: __ Focuses on symbols and meanings related to events. Ex?

Symbolic frame Org culture is important (dress, hours, etc.) Ex: Was it good or bad that the CEO came to the kickoff meeting of a new project

what are the 3 parts of the Systems Approach?

Systems philosophy Systems analysis Systems management

what 3 talents make up the PMI talent triangle?

Technical Project Management Leadership Strategic and Business Management

what is a deliverable

a product or service produced or provided as part of the project. Could be a webpage, software app or something manufactured. Also PM doc such as GANTT chart or charter