Project Management MG 417

Major characteristics of a project are:

1. An established objective 2. A defined life span with a beginning and an end 3. Usually, the involvement of several departments and professionals 4. Typically, doing something that has never been done before 5. Specific time, cost, and performance requirements

A common rule of thumb for high technology products is that a six month delay in project execution can result in lost market share of what amount? Multiple choice question. 10% 25% 33% 50%

33%

Program

A group of related projects designed to accomplish a common goal over an extended period of time

Project

A temporary endeavor undertaken to create a unique product, service, or result.

(blank) methodologies emerged out of frustration with using traditional project management processes to develop software.

Agile

Project management is a results oriented management system that necessitates which of the following? Relying solely on project management software. Building collaborative relationships with diverse stakeholders. Holding a certification in project management from the Project Management Institute. Working with a specific set of tools.

Building collaborative relationships with diverse stakeholders.

Project Life Cycle

Defining, Planning, Executing, Closing

Project management is the best fit for which type of work? Running a production line Training employees Distributing end-of-month reports Developing a new product

Developing a new product

Defining phase of project life cycle

Goals Specifications Tasks Responsibilities Specifications of the project are designed; project objectives are established; teams are formed; major responsibilities are assigned

How does a project scope statement help a project team? It provides clarity of purpose for the project. It defines the project team organization. It explains the project priority.

It provides clarity of purpose for the project.

In project management, the term program would best fit which of the following examples? Launching a chain of restaurants Designing a new automobile Managing a production line in a factory Building a skyscraper

Launching a chain of restaurants

Identify the necessary sociocultural skills for project managers. Managing corporate politics Managing customer communication and expectations Motivating project team members Using project software to plan, control, and schedule a project

Managing corporate politics Managing customer communication and expectations Motivating project team members

Which of the following statements are typical of most project life cycles? Project planning is done throughout most of a project's life. The "defining" stage of a project must be complete before a project can begin. Project stages have clean cut off points when work will stop. Different stages will see different amount of effort during the project.

Project planning is done throughout most of a project's life. Different stages will see different amount of effort during the project.

Planning Stage of the project life cycle

Schedules Budgets Resources Risks Staffing The level of effort increases, and plans are developed to determine what the project will entail, when it will be scheduled, whom it will benefit, what quality level should be maintained, and what the budget will be

Executing Stage of the project life cycle

Status reports Changes Quality Forecasts A major portion of the project work takes place-both physical and mental. Physical product is produced. Time, cost, and specification measures are used for control.

Program management

The process of managing multiple interdependent projects to improve the performance of an organization

Who manages the Agile team? The client The project manager A senior executive The team

The team

Closing stage of project life cycle

Train customer Transfer documents Release resources Evaluation Lessons Learned Closing includes three activities: delivering the project product to the customer, redeploying project resources, and conducting a post-project review.

True/False: the major goal of a project is to satisfy a customer's need.

True

The (blank) stage includes three activities: delivering the project product to the customer, redeploying project resources, and conducting a post-project review.

closing

Increased (blank) has placed a premium on customer satisfaction.

competition

The growth in new (blank) has increased the complexity of projects.

knowledge

Project uncertainty varies according to the extent the technology to be used is (blank) and (blank)

known, proven

The role/title "project manager" carries with it many responsibilities, including: managing customer expectations. ultimate responsibility for project success. coordinating project team members that often have competing or different priorities. changing the scope of the project when required.

managing customer expectations. ultimate responsibility for project success. coordinating project team members that often have competing or different priorities.

Select all that apply Project management is a necessary discipline in many businesses because ___. (Select all that apply.) few college programs are teaching project management. projects play an increasing role in the strategic direction of firms. corporate priorities are expanding to include environmental and social issues. new products must be developed and introduced to the market quickly.

projects play an increasing role in the strategic direction of firms. corporate priorities are expanding to include environmental and social issues. new products must be developed and introduced to the market quickly.

What a project is not

routine, repetitive

Traditional project management focuses on thorough planning _____. . by the client during the closing phase up front. throughout the project

up front.