Quiz 3 & 4

False Feedback: The project management plan is much more than a Gantt chart.

A Gantt chart is the same as a project management plan. True False

False Feedback: Project management is an integrative endeavor; decisions and actions taken in one knowledge area at a certain time usually affect other knowledge areas.

Decisions and actions taken in one knowledge area at a certain time rarely affect other knowledge areas. True False

agile approach agile method

If done well, the _________ can produce several releases of useful software.

False Feedback: Key outcomes of the closing process group are formal acceptance of the work and creation of closing documents, such as a final project report and lessons-learned report.

Key outcomes of the executing process group are formal acceptance of the work and creation of closing documents. True False

True Feedback: Payback analysis is another important financial tool when selecting projects. Payback period is the amount of time it will take to recoup the total dollars invested in a project, in terms of net cash inflows.

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

True Feedback: It is often easier to get approval and funding for projects that address problems or directives because the organization must respond to these categories to avoid hurting their business.

Projects that arise as a result of problems and directives must be resolved quickly to avoid hurting an organization's business. True False

False Feedback: The output of the stakeholder management strategy results is a stakeholder register.

The output of the stakeholder management strategy results is a project charter. True False

planning execution

In project integration management, project ______ and _______ are intertwined and inseparable activities.

True Feedback: Many information systems are classified as "strategic" because they directly support key business strategies. For example, information systems can help an organization support a strategy of being a low-cost producer.

Information systems can help an organization support a strategy of being a low-cost producer. True False

False Feedback: Initiating and closing tasks are usually the shortest (at the beginning and end of a project or phase, respectively), and they require the least resources and time.

Initiating and closing tasks are usually the longest and require the most amount of resources and time. True False

False Feedback: Initiating processes are also required to end a project. Someone must initiate activities to ensure that the project team completes all the work, documents lessons learned, assigns project resources, and that the customer accepts the work.

Initiating processes are not required to end a project. True False

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

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

zero Feedback: You can determine a project's internal rate of return (IRR) by finding what discount rate results in an NPV of zero for the project.

A project's internal rate of return can be determined by finding what discount rate results in an NPV of what value for the project? fifty percent zero a hundred percent one

risk management

A risk register is the output of _____.

True Feedback: A sprint review is a meeting in which the team demonstrates to the product owner what it has completed during the sprint.

A sprint review is a meeting in which the team demonstrates to the product owner what it has completed during the sprint. True False

stakeholder register

A(n) _____ is a document that includes stakeholders' roles, names, organizations, and contact information.

process

A(n)_____ is a series of actions directed toward a particular result.

project integration management Feedback: The closing process involves gaining stakeholder and customer acceptance of the final products and services and then bringing the project or project phase to an orderly end. It includes verifying that all of the deliverables are complete, and it often includes a final project report and presentation.

An organizational process assets update is the output of which closing process? project integration management project procurement management project quality management project time management

True Feedback: Two main methodologies are used on Six Sigma projects: DMAIC (Define, Measure, Analyze, Improve, and Control) is used to improve an existing business process, and DMADV (Define, Measure, Analyze, Design, and Verify) is used to create new product or process designs to achieve predictable, defect-free performance.

The DMAIC (Define, Measure, Analyze, Improve, and Control) methodology of the Six Sigma projects, is used to improve an existing business process. True False

False Feedback: The ROI is always a percentage. It can be positive or negative.

The ROI is always positive. True False

work breakdown structure

The _____ is a very important tool in project management because it provides the basis for deciding how to do the work.

monitoring and controlling

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.

Directives Feedback: Directives are new requirements imposed by management, government, or some external influence.

What are new requirements imposed by management, government, or some external influence referred to as? Charters Directives Opportunities Problems

project management plan Feedback: Developing a project management plan is a planning process falling under the Project Integration Management knowledge area.

What is developed in the Project Integration Management knowledge area? project management plan WBS quality management schedule management plan

tie the information technology strategic plan to the organization's overall strategic plan Feedback: The first step in the planning process, starting at the top of the hierarchy, is to tie the IT strategic plan to the organization's overall strategic plan.

What is the first step in the planning process? tie the information technology strategic plan to the organization's overall strategic plan choose which projects to do and assigning resources to work on them start defining potential IT projects in terms of their scope, benefits, and constraints perform a business area analysis

initiating Feedback: The project integration management knowledge area maps to the initiating process group through the activities of developing project charters.

What process group does the project integration management knowledge area map to through the activities of developing project charters? initiating planning executing monitoring and controlling

It is always a percentage. Feedback: The ROI is always a percentage. It can be positive or negative.

What statement is true regarding a return on investment or ROI? It is always a percentage. It is always a positive number. It is the result of adding the project costs to the profits. The lower it is, the better.

weighted scoring model

A(n) _____ is a tool that provides a systematic process for selecting projects based on many criteria. Correct!

True Feedback: A summary of the planned approach for managing the project should describe stakeholder needs and expectations, important assumptions, and constraints.

A summary of the planned approach for managing the project should describe stakeholder needs and expectations, important assumptions, and constraints. True False

balanced scorecard

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.

closing Feedback: Closing processes include formalizing acceptance of the project or project phase and ending it efficiently. Administrative activities such as archiving project files, closing out contracts, documenting lessons learned, and receiving formal acceptance of the delivered work as part of the phase or project are often involved in this process group.

Administrative activities, such as archiving project files, closing out contracts, documenting lessons learned, and receiving formal acceptance of the delivered work as part of the phase or project, are often involved in which processes? executing closing initiating monitoring and controlling

False Feedback: Agile is an adaptive product life cycle used when deliverables have a high degree of change and a high frequency of delivery.

Agile methods are used when deliverables have a low degree of change. True False

Configuration management Feedback: Configuration management ensures that the descriptions of the project's products are correct and complete. It involves identifying and controlling the functional and physical design characteristics of products and their support documentation.

What process involves identifying and controlling the functional and physical design characteristics of products and their support documentation, and ensures that the descriptions of the project's products are correct and complete? NPV analysis Project management information systems Configuration management Project time management

project human resource management Feedback: Enterprise environmental factors are an output of the executing process of project human resource management.

What process provides enterprise environmental factors as an output? project quality management project integration management project human resource management project procurement management

Planning Feedback: Planning processes include devising and maintaining a workable scheme to ensure that the project addresses the organization's needs. Projects include several plans, such as the scope management plan, schedule management plan, cost management plan, and procurement management plan.

What processes include devising and maintaining a workable scheme to ensure that the project addresses the organization's needs? Monitoring and controlling Initiating Executing Planning

Net present value Feedback: Net present value (NPV) analysis is a method of calculating 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.

What type of analysis involves calculating 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? Net present value Cash flow Cost of capital Payback

False Feedback: Opportunities are chances to improve the organization. Directives are new requirements imposed by management, government, or some external influence.

Opportunities and directives are essentially the same thing. True False

True Feedback: The executing process group takes the actions necessary to complete the work described in the planning activities. It should overlap the other process groups, and generally requires the most resources.

The executing process group generally requires the most resources. True False

False Feedback: Project integration management includes interface management, which involves identifying and managing the points of interaction between various elements of a project. The number of interfaces can increase exponentially as the number of people involved in a project increases.

The number of interfaces in a single project is limited, and does not depend on the number of people involved in the project. True False

False Feedback: A project charter, stakeholder register, stakeholder management strategy, and kick-off meeting would be created as part of initiation in a project using the Scrum method.

The pre-initiation phase of a project using the Scrum method does not involve project charters, stakeholder management strategy, and kick-off meetings. True False

integration management Feedback: The project management plan,which is part of the planning process, is the output of project integration management.

The project management plan is the output of which project planning process? quality management integration management procurement management scope management

Collecting requirements Feedback: Process improvement plans are an output of project quality management.

Which planning process is associated with project scope management? Estimating costs Planning schedule management Collecting requirements Performing qualitative risk analysis

change control system Feedback: A change control system is a formal, documented process that describes when and how official project documents may be changed. It also describes the people authorized to make changes, the paperwork required for these changes, and any automated or manual tracking systems the project will use.

Which term is used for a formal, documented process that describes when and how official project documents may be modified, the people authorized to make modifications, and the paperwork required for these changes? change control system performance report project charter WBS

Net present value - NPV NPV Net present value

_____ analysis is a method of calculating 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.

Directives

_____ are new requirements imposed by management, government, or some external influence.

User stories

_____ are short descriptions written by customers of what they need a Scrum system to do for them.

Enterprise environmental

_____ factors include relevant government or industry standards, the organization's infrastructure, and marketplace conditions.

Organizational process assets

_____ include formal and informal plans, policies, procedures, guidelines, information systems, financial systems, management systems, lessons learned, and historical information that can be used to influence a project's success.

Project integration management

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

Human resource

_________ issues often occur during project execution, especially conflicts.

project objective, high-level requirements, and time and cost goals Feedback: Many projects require a business case to justify their investment. Information in the business case, such as the project objective, high-level requirements, and time and cost goals, is included in the project charter.

Which information is included in a business case? project objective, high-level requirements, and time and cost goals business need for the project policies, procedures, guidelines, and systems that influence a project's success relevant government or industry standards