MISY 4350 Ch. 4 – Flashcards
Unlock all answers in this set
Unlock answersquestion
_____ involves working with stakeholders to create the document that formally authorizes a project.
answer
Developing the project charter
question
_____ involves coordinating all planning efforts to create a consistent, coherent document.
answer
Developing the project management plan
question
The outputs of the _____ process include change request status updates, project management plan updates, and project document updates.
answer
monitoring and controlling
question
The first step in the planning process is _____.
answer
to tie the information technology strategic plan to the organization's overall strategic plan
question
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.
answer
business area analysis
question
In the _____ stage of selecting information technology projects, organizations define project scope, benefits, and constraints.
answer
project planning
question
In the _____ stage of selecting information technology projects, organizations select information technology projects.
answer
resource allocation
question
_____ are new requirements imposed by management, government, or some external influence.
answer
Directives
question
_____ 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.
answer
Net present value
question
Benefits minus costs is known as the _____.
answer
cash flow
question
The first step in determining the NPV is to _____.
answer
determine the estimated costs and benefits for the life of the project and the products it produces
question
Which of the following is true of return on investment or ROI?
answer
It is always a percentage.
question
The _____ is the minimum acceptable rate of return on an investment.
answer
required rate of return
question
Payback occurs when:
answer
the net cumulative benefits equal the net cumulative costs.
question
A project's internal rate of return can be determined by finding what discount rate results in an NPV of _____ for the project.
answer
zero
question
In a weighted scoring model, the sum of the weights of all the criteria must total _____ percent.
answer
100
question
A _____ is a document that recognizes the existence of a project and provides direction on the project's objectives and management.
answer
project charter
question
The business case includes information on _____.
answer
the project objective, high-level requirements, and time and cost goals
question
Which of the following are organizational process assets?
answer
Management systems
question
A _____ is a document used to coordinate all project planning documents and help guide a project's execution and control..
answer
project management plan
question
The _____ section of the project plan should describe the major project functions and activities and identify those individuals who are in charge of them.
answer
project responsibilities
question
The _____ section of the project management plan describes how to monitor project progress and handle changes.
answer
project controls
question
The project schedule information section of the project management plan includes ____.
answer
an elaborate timetable
question
The _____ section of the project management plan describes specific methodologies a project might use and explains how to document information.
answer
technical processes
question
The majority of time on a project is usually spent on _____, as is most of the project's budget.
answer
execution
question
_____ should result in improvements in project performance.
answer
Corrective actions
question
Which of the following is a proactive process undertaken to reduce the probability of negative consequences associated with project risks?
answer
Preventive actions
question
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 _____.
answer
a corrective action
question
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.
answer
change control system
question
_____ 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.
answer
Configuration management
