Project Management Final 1-3

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stakeholders

define project related requirements and expectations, PM manages exepectations

scope or quality

deliver the specific aim of the project

What is the general aim of a Business Case?

describes the reason for initiating a project

methodology provides a skeleton for

describing every step in depth so that a project manager will know what to do in order to deliver and implement the work

social

dissemination of knowledge, improved safety, cleaner environment

Which one of the below project goals supports the attributes of MOV?

each quarter during the fiscal year we will increase our customer base by 10-15%

Which of the following we did not discuss in class as business values enabled by projects

employee work environment

Which one is not an attribute of project methodology

enables career progression of project team members

close and evaluate project

ensures that all the work is completed

"Project management processes serve to define, organize, ________, and assess the work to be delivered in a project through various tools and techniques"

execute

Which of the following PLC's deliverable is the SDLC?

execute

An executive will more likely sponsor a project if it:

exhibits an MOV, which aligns with organizational strategy and goals

a project has

expected output, start and end date, limited resources

define project

focused on providing business value to the organization, provides a clear focus and drives the other phases

Why is it important to have deliverables?

good way of checking progress

intangible

goodwill, brand recognition, public benefit, reputation, strategic management

functional

grouped by functional expertise area with clearly defined supervisor

weak matrix

helps coordinate, no decision making authority

Initiating a project to develop a product in the hope that it will be the first on the market before the competition is an example for the following project initiation context:

implement or change business or technological strategies

Which one is not an advantage of forming a cross-functional business case team:

include more experienced stakeholders who have been with the company longer

Which one of the below is not an attribute of MOV?

increase revenue

financial

increased revenue, lower costs

money or resources

limited funds and resources available

execute project plan

manage triple constraint to achieve project goals, progress must be documented and communicated

project team

managers and others work on specific tasks from diverse functional and knowledge areas

project life cycle is collection of logical stages that

maps the life of a project, from beginning to end, to define build and deliver the product

MOV must be

measurable, provide value, be agreed upon, be verifiable, guide the project through its lifecycle, align with the organizations strategy and goals

matrix based

mix of functional and projectized

tangible

monetary assets, stockholder equity, utility, market share

operational

more efficient processes, more effective processes

business value

net quantifiable benefit derived from business endeavor

strategic

new markets, increased market share, changing terms of competition

customer

new products or services, better quality products, lower priced products or services

Your team undertook a project to increase efficiency in the inbound order creation. Which area will your project directly impact?

operational

Project manager

person assigned to achieve the project objectives

"If your task is to do technological feasibility, which question would help you most to start your study?"

are we able to do it and is it worth doing

organizational value

better, faster, cheaper, do more

A PLC phase is a collection of logically related:

practices, methods, processes

a methodology is a system of

practices, techniques, procedures, and rules used by those who work in a discipline

projects are composed of

processes

project quality management

processes and activities of the performing organization that determine quality policies, objectives, and responsibilities so that the project will satisfy the needs for which it was undertaken

project cost management

processes involved in planning, estimating, budgeting, and controlling costs so the project is completed within budget

project time management

processes required to accomplish timely completion of the project

project scope management

processes to ensure that the project includes all the work required and only the work required to complete the project successfully

"When a company has a collection of related projects to develop a new product, in line with existing product line is considered a:"

program

plan project

project objectives, resources, controls

Which of the following Knowledge Areas is not part of the PM objectives?

project risk management

priorities are assigned by

project sponsor or customer

project lifecycle

project work divided up into phases

Which organizational structure gives the highest level of authorities and responsibilities to project managers?

projectized

PMBOK (Project Management Body of Knowledge) Guide has been developed by the PMI (Project Management Institute) to______________

promote generally recognized practices in project management

Which one of the below statements is the best example for metric or performance target of an MOV?

sales growth increase by 5-6% by next year

Project priorities are defined by the

sponsor

You are interning with a company and your task is to do market research on a market that the organization is currently not present but plans to enter. Which area will your project directly impact?

strategic

project methodology

strategic level plan for managing and controlling the project, game plan for implementing project and product lifecycles, recommends phases, processes, tools, and techniques for supporting an IT project, must be flexible and include best practices

project management methodology

strictly defined combination of logically related practices, methods, and processes that determine how best to plan develop control and deliver a project

project management process

supports the project throughout its life to ensure effective delivery, define organize, execute, and assess the work to be delivered

A project is a __________ endeavor to create a unique product, service, or a result."

temporary

project

temporary endeavor undertaken to create a unique product service or result

What measures the project s goal?

MOV

parts of business case

MOV, cross functional team, alternatives, feasibility and risk assessment, TCO, TBO, analyze alternatives, recommendation

What supports the MOV as discussed in class and on several slides?

PM Objectives

strong matrix

PM has much more decision making responsibility but not all

balanced matrix

PM has some decision making responsibilities, helps team stay on triple constraint

which is a project? Making ice cream Selling coffee Renovating the 4th Floor

Renovating the 4th floor

portfolio

a collection of projects and programs managed as a group to achieve strategic objectives

program

a group of related projects managed to obtain benefits

processes are

a series of actions to achieve a result

deliverable

a unique verifiable product that must be created to complete a process

Stakeholders are those who are

affected by the project

Which is the following project methodologies require less specific specification during the planning phase

agile

Which of the following is not a PLC phase?

change management

Which one of the below options is not a possible alternative of an IT Project discussed in class?

change organizational strategy to save cost of IT

projectized

co located team members based on project needs, most authority for PM

The Triple Contraint includes the following three project attributes

cost, time, scope

potential impact areas

customer, strategic, financial, operational, social

time or schedule

time period in which to produce an end product or service

"Project Scope Management is defined as: Processes to ensure that the project includes all the ___1___ required, and only the ___2___ required, to complete the project successfully"

work, work


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