OMIS 352 Quiz 4
true
T/F 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.
d. a Gantt chart
Which of the following items is not normally included in a project charter? a. the name of the project manager b. budget information c. stakeholder signatures d. a Gantt chart
change control system
formal, documented process that describes when and how official project documents and work may be changed
c. 20%
if estimates for total discounted benefits for a project are $120,000 and total discounted costs are $100,000, what is the estimated return on investment (ROI)? a. 20,000 b. 120,000 c. 20% d. 120%
elements of project mgmt plan
into of project description of project organized mgmt and technical processes used on project work to be done, schedule, budget info
project charter
output for initiating
1. develop the project charter 2. develop the project management plan 3. directing and managing project work 4. monitoring and controlling project work 5. performing integrated change control 6. closing the project or phase
project integration management processes (6)
inputs for project charter
project statement of work business case agreements enterprise environmental factors organizational process assets
payback period
the amount of time it will take to recoup, in the form of net cash inflows, the total dollars invested in a proect
project planning
IT planning stage: define potential projects. define project scope, benefits, and constraints
a. project controls
The _____ section of the project management plan describes how to monitor project progress and handle changes. a. project controls b. management objectives c. risk management d. technical processes
False
The introduction or overview of a project must only include a list of definitions and acronyms.
a. management systems
Which of the following are organizational process assets? Selected Answer: a. Management systems b. The organization's infrastructure c. Government standards d. Marketplace conditions
b. minimize change
Which of the following is not a suggestion for performing integrated change control? a. use good configuration management b. minimize change c. establish a formal change control system d. view project management as a process of constant communication and negotiation
d. It is always a percentage.
Which of the following is true of return on investment or ROI? a. It is always a positive number. b. The lower it is, the better. c. It is the result of adding the project costs to the profits. d. It is always a percentage.
project mgmt plan
document used to coordinate all project planning documents and help guide a project's execution and control
configuration mgmt
ensures that the descriptions of the project's products are correct and complete
project execution tools and techniques
expert judgment, meetings, project mgmt information systems
project charter
document that formally recognizes the existence of a project's objectives and management
return on investment
(total discounted benefits - total discounted costs) / discounted costs
NPV, ROI, payback analysis
3 primary methods for determining the projected financial value of projects
impetus (whether it is a problem, opportunity, directive) time priority
3 ways to categorize projects
d. project charter
A _____ is a document that recognizes the existence of a project and provides direction on the project's objectives and management. a. directive b. risk register c. stakeholder register d. project charter
c. directive
A new government law requires an organization to report data in a new way. Which of the following categories would include a new information system project to provide this data? a. problem b. opportunity c. directive d. regulation
a. change control system
A(n) _____ is 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. a. change control system b. WBS c. performance report d. project charter
b. selecting projects that will take less than two years to provide payback
which of the following is not a best practice for new product development projects? a. aligning projects and resources with business strategy b. selecting projects that will take less than two years to provide payback c. focusing on customer needs in identifying projects d. assigning project managers to lead projects
a. developing the project business case
which of the following processes is not part of project integration management? a. developing the project business case b. developing the project charter c. developing the project management plan d. closing the project or phase
d. corrective action
An IT company revises its process parameters in response to complaints from vendors that products were not ready on time. This would be an example of _____. a corrective action Answers: a. cost forecasting b. a preventive action c. defect repairs d. a corrective action
True
Change requests are always made in writing
False
Corrective actions reduce the probability of negative consequences associated with project risks, while preventive actions should result in improvements in project performance.
business area analysis
IT planning stage: document key business processes that could benefit from information technology
resource allocation
IT planning stage: select information technology projects. assign resources
information technology strategy planning
IT planning stage: tie information technology strategy to mission and vision of org. identify key business areas
true
In project integration management, directing and managing project execution involves carrying out the project management plan by performing the activities included in it.
true
Interface management involves identifying and managing the points of interaction between various elements of a project.
false
Many projects fail because of unclear requirements and expectations, so starting with a payback analysis makes a lot of sense.
false
Opportunities and directives are essentially the same thing.
True
Organizational process asset updates are an important output of the closing process of a project.
false
Project integration management must occur just within the context of a particular project.
b. business area analysis
The _____ stage of information technology planning outlines business processes that are central to achieving strategic goals and helps determine which ones could most benefit from information technology. a. information technology strategy planning b. business area analysis c. resource allocation d. project planning
a. an elaborate timetable
The project schedule information section of the project management plan includes ____. a. an elaborate timetable b. a detailed budget c. a directory of staff involved in the project d. a list of key deliverables
a. configuration mgmt
___ ensures that the descriptions of the project's products are correct and complete a. configuration mgmt b. integrated change control c. integration mgmt d. a change control board
c. developing the project charter
____ involves working with stakeholders to create the document that formally authorizes a project. a. Developing the preliminary project scope statement b. Developing the project management plan c. Developing the project charter d. Performing integrated change control
a. corrective actions
_____ should result in improvements in project performance. a. Corrective actions b. Preventive actions c. Product acceptance plans d. Defect repairs
a. project charter
a ___ is a document that formally recognizes the existence of a project and provides direction on the project's objectives and mgmt? a. project charter b. contract c. business case d. project mgmt plan
SWOT analysis
analyzing strengths, weakness, opportunities, threats
baseline
approved project management plan plus approved changes
internal rate of return
finding the discount rate that makes the NPV equal to zero
methods for selecting projects
focusing on broad org needs categorizing IT projects performing NPV or other finance analyses weighted scoring model balanced scorecard
change control board
formal group of people responsible for approving or rejecting changes on a project
organizational process assets
include formal and informal plans, polices, procedures, guidelines, information systems, financial systems, mgmt systems, lessons learned, historical information
project integration management
involves coordinating all of the other project management knowledge areas throughout a project's life cycle
strategic planning
involves determining long term objectives by analyzing the strengths and weaknesses of an org, predicting future trends, and projecting the need for new products and services
interface management
involves identifying and managing the points of interaction between various elements of the project
integrated change control
involves identifying, evaluating, and managing changes through out the project life cycle
NPV
method of calculating the expected net monetary gain/loss from a project by discounting all expected future cash inflows and outflows to the present point in time higher the NPV the better
balanced scorecard
methodology that converts an org's value drivers, such as customer service, innovation, operational efficiency, and financial performance to a series of defined metrics
final product/service, organizational process assets updates
output for closing
deliverables, work performance data, project management plan updates
output for executing
change requests, project management plan updates, change log,
output for monitoring and controlling
project management plan
output for planning
mind mapping
technique that uses branches radiating from a core idea to structure thoughts and ideas (web)
need, funds, will
three important criteria for projects
d. resource allocation
what is the last step in the four stage planning process for selecting IT projects? a. IT strategy planning b. business area analysis c. mind mapping d. resource allocation
c. expert judgement
what tool and technique is used for all processes of project integration mgmt? a. project mgmt software b. templates c. expert judgement d. all of the above