Project Management Midterm

_____ refers to the process of developing a working replica of the system or some aspect of the system A. Use case modeling B. Prototyping C. Variance D. Decomposition

Prototyping

In the _____ model, developers use a model to generate functional requirements and physical design specifications simultaneously. A. Prototyping Life Cycle B. Spiral Life Cycle C. Incremental Building Life Cycle D. RAD Life Cycle

Prototyping Life Cycle

Project _____ management involves defining and managing all the work required to complete the project successfully. A. Cost B. Time C. Human Resource D. Scope

Scope

Analogous estimates are also known as ___ estimates A. Budgetary B. Top-down C. Bottom-up D. parametric

Top-down

An activity is an element of work that has an expected duration, cost, and resource requirements

True

T/F: Some organizations initiate projects using a contract in place of a project charter

True

T/F: The Adaptive Software Development (ASD) life cycle model assumes that software development follows an adaptive approach because the requirements cannot be clearly expressed early in the life cycle

True

T/F: The DMAIC (Define, Measure, Analyze, Improve, and Control) methodology of the six sigma projects, is used to improve an existing business process.

True

T/F: The level of activity and length of each process group varies for every project

True

T/F: The scope management plan can be informal and broad or formal and detailed, based on the needs of the project

True

The _____ process involves gaining stakeholder and customer acceptance of the final products and services and bringing the project, or project phase, to an orderly end. A. Monitoring B. Planning C. Closing D. Executing

Closing

The main goal of the _____ process is to produce a cost baseline for measuring project performance and project funding requirements A. Cost estimating B. Cost planning C. Cost budgeting D. Cost controlling

Cost Budgeting

One of the main outputs of the _____ process is cost baseline A. Cost budgeting B. Cost planning C. Cost controlling D. Cost estimating

Cost budgeting

Which of the following is an output of the process of controlling costs? A. Project funding requirement B. Cost forecasts C. Scope baselines D. Basis of estimates

Cost forecasts

Describe critical path analysis. How is the critical path calculated?

Critical path analysis is a planning process for creating a project. It involves mapping out every task in the project and identifying an approximation of how long each task will take After you have mapped out every possible way through the project and calculated the duration of all possible paths, you can find the critical path. The critical path is found by adding all the durations from every path and choosing the path with the longest duration.

Subdividing the project deliverables into smaller pieces is known as _____ A. Decomposition B. Disconnecting C. Dividing D. Decommissioning

Decomposition

The first step in determining the NPV is to _____ A. Calculate the NPV B. Determine the estimated cost and benefits for the life of the project and the products it produces C. Determine the cash flows D. Determine the discount rate

Determine the estimated cost and benefits for the life of the project and the products it produces

Variances are calculated by subtracting the actual cost from _____. A. Schedule Variance B. Earned Variance C. Planned Value D. Rate of Performance

Earned Variance

Examples of _____ processes include acquiring and developing the project team, performing quality assurance, distributing information, managing stakeholders' expectations, and conducting procurements. A. Initiating B. Executing C. Planning D. Monitoring and Controlling

Executing

T/F: A milestone list is an output associated with the Project Scope Management knowledge

False

T/F: A project charter typically does not authorize the project manager to use organizational resources to complete the project.

False

T/F: An organization's project management plan expresses the vision, mission, goals, objectives, and strategies of the organization

False

Which of the following is a proactive process undertaken to reduce the probability of negative consequences associated with project risk? A. Performance reports B. Preventive actions C. Defect repairs D. Corrective actions

Preventive actions

The role of a _____ is to provide direction and funding for a project. A. Project Manager B. Support Staff Member C. Project Team D. Project Sponsor

Project Sponsor

Milestones are easy to achieve and always achieved through one main activity

False

T/F: A budgetary estimate is the most accurate of the three types of estimates

False

T/F: A merge occurs when one node precedes multiple nodes

False

T/F: The arrows in a network diagram represent missed milestones in a project

False

T/F: When you separate business and organizational issues from project management planning, you do a better job of ensuring project success

False

_____ is the amount of time an activity can be delayed from its early start without delaying the planned project finish date. A. Total Slack B. Forward Pass C. Backward Pass D. Free Float

Free Float

_____ provide(s) a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a calendar format A. Arrow Diagramming Method B. PERT analysis C. Gantt Charts D. Critical Path Analysis

Gantt Chart

Which of the following is true of the project life cycle? A. It is much more expensive to make major changes to a project during the earlier phases than the latter phases B. In the later phases of the project life cycle, the level of uncertainty is usually the highest C. In the early phases of a project life cycle, resources needed are usually the lowest D. More resources are usually needed during the initial phases of a project than during the middle or final phases

In the early phases of a project life cycle, resources needed are usually the lowest

Which of the following is true of virtual teams? A. It is important to select team members carefully B. Negative incentives do not impact virtual team C. As they never meet, virtual teams do not have conflict D. It is easier for virtual teams to build relationships and trust

It is important to select team members carefully

A difference between the Program Evaluation and Review Technique (PERT) and Critical Path Method (CPM) is that: A. Unlike CPM, PERT estimates only when there is no risk of uncertainty B. PERT uses different duration estimates whereas CPM uses one specific duration estimates C. CPM involves more work than PERT because it requires several duration estimates D. CPM addresses the risk associated with duration estimates whereas PERT does not

PERT uses different duration estimates whereas CPM uses one specific duration estimates

Project managers have the most authority in a pure _____ organizational structure. A. Functional B. Project C. Circular D. Matrix

Project

Which of the following documents is most likely to include planned project start and end dates which serve as the starting points for a detailed schedule? A. Project Charter B. Resource Breakdown Structure C. Organizational process asset update D. Milestones list

Project Charter

Which of the following project management knowledge areas involve generating, collecting, disseminating, and storing project information? A. Project Time Management B. Project Procurement Management C. Project Communications Management D. Project Cost Management

Project Communications Management

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

Project Integration Management

_____ includes people, hardware, software, or other assets.

Resources

Schedule Variance is: A. The planned value plus the rate of performance B. The earned value minus the actual cost C. The planned value plus the earned value D. The earned value minus the planned value

The earned value minus the planned value

T/F: An annual discount factor is a multiplier for each year based on the discount rate and year.

True

T/F: As projects progress, the organization must reevaluate the need, funding, and will for each project to determine if the project should be continued, redefined, or terminated

True

T/F: Details of kick-off meetings and the stakeholder details are usually recorded in a Word document

True

T/F: IT project managers must be able to present and discuss project information both financial and technical

True

T/F: Mind mapping allows people to write and even draw pictures of ideas in a nonlinear format

True

T/F: Project human resource management is concerned with making effective use of people involved with a project.

True

T/F: Scope refers to all the work involved in creating the products of the project and the processes used to create them

True

What is integrated change control? What are the main objectives of integrated change control?

Integrated change control is the monitoring and management of change throughout the project life cycle. There are 3 main objectives 1. making sure a change that will be implemented and will work in favor of the project 2. distinguish changes that have occurred during integration change 3. managing changes while they are occurring

Which of the following statements is true of project management? A. Its framework consists solely of project management knowledge areas B. It does not guarantee success for all projects C. It has specific tools which work universally across all kinds of projects D. It is a simple discipline with a limited scope

It does not guarantee success for all projects

Creating the WBS is a subprocess associated with the _____ process in project scope management A. Closing B. Monitoring and Controlling C. Executing D. Planning

Planning