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PM FINAL – Flashcards

Adam Howard

8 July 2022

question

The project management framework includes five process groups and ten _____________

answer

Knowledge Areas

question

An Individual proposes an IT project that will upgrade sales employees laptops to Windows 8. In this situation, the IT investment is targeted toward ____________

answer

Technology Renewal

question

A(n) ______________ is a document that provides financial justification for investing in a project

answer

Business Case

question

A stakeholder analysis is a technique for analyzing information to determine which stakeholders' interests to focus on and how to increase stakeholder ________

answer

Support

question

A(n) is a product or service produced or provided as part of a project:

answer

Deliverable

question

ALL systems operate within a larger environment (T/F)

answer

True

question

List two reasons why top management support is critical to project success

answer

1. Cooperation 2. Resources (people) 3. Timely Project Approvals 4. Mentor that also encourages young PM's

question

________ is formal acceptance of completed project deliverables by the customer or designated stakeholders

answer

Scope Validation

question

________refers to uncontrolled changes in a project's scope

answer

Scope Creep

question

Analysis of ______ related documents helps project managers create lessons learned reports (assume you could only pick one set of documents listed below) A. Scope B. Cost C. Quality D. Risk E. Integration

answer

D. Risk

question

If your current schedule performance index is 1.6, your project is (behind/on-time/ahead) of schedule?

answer

Ahead of Schedule

question

The _______ should include requirements for formal acceptance and closure of contracts

answer

Contract itself

question

You cannot control the scope of a project unless you have first clearly defined the scope and set a scope validation process in place (T/F)

answer

True

question

______ is a project performance measurement technique that integrates scope, time, and cost data.

answer

Earned Value Management

question

Earned Value= _______multiplied by rate of performance

answer

Planned Value

question

If the budget at completion for a project is $100,000 and the cost performance index is .5, what is the estimate at completion?

answer

$200,000

question

A _____ chart helps show if there is a relationship between two variables

answer

Scatter

question

Updating the risk register is an optional part of project monitoring and control (T/F)

answer

False

question

Answering questions such as "What will you do differently on the next project based on your experience working on this project?" is part of a _____

answer

Lessons learned report

question

Earned Value analysis can be conducted at any level of a work breakdown structure (T/F)

answer

True

question

If your current cost performance index is 1, your project is: A. Under Budget B. Over Budget C. Ahead of Schedule D. Behind Schedule E. None of the above

answer

E. None of the above Project is actually meeting budget

question

Evaluation of any change to a project should include an impact analysis(T/F)

answer

True

question

When developing a(n) ____ plan, the project team should work with managers in affected operating departments, and the contents of the plan should be tailored to fit the support needs of the project

answer

Transition

question

_____ are reviews often performed during contract closure to identify lessons learned in the entire procurement process.

answer

Procurement audits

question

You must have a project baseline in order to conduct earned value analysis (T/F)

answer

True

question

_____ predict future project status and progress based on past information and trends

answer

Forecasts

question

A(n) ______ milestone refers to a milestone activity that was actually completed later then planned A. Stalled B. Uncontrolled C. Tracked D. Missed E. None of the Above

answer

E. None of the Above

question

List three Characteristics of Agile Development Methodologies

answer

1. Scum 2. Sprint - Breaks up overall project into smaller iterations 3. Prioritizing features (Backlogging) 4. Reduces project uncertainty - All processes/testing in two week sprints that produce something that customers/stakeholders can review each time

question

Agile Manifesto (name 3 of the four parts)

answer

- People over processes - working software over comprehensive documentation -collaboration w/ customers over contract negotiation

question

List four topics that should be addressed in a project close-out meeting

answer

- Management of the big 3 (scope/time/cost) - Major changes - Lessons learned - Transition plan

question

The project management framework includes five process groups and ten _____

answer

Knowledge Areas

question

An individual proposes an IT project that will upgrade sales employees' laptops to Windows 8. In this situation, the IT investment is targeted toward _____

answer

Technology Renewal

question

_______is the application of knowledge, skills, tools and techniques to project activities to meet project requirements

answer

Project Management

question

Project portfolio management addresses _____goals of an organization, while project management addresses____ goals A. Strategic, Tactical B. Tactical, strategic C. Internal, external D. External, Internal

answer

Strategic,tactical

question

What is a crucial part of the project charter-a section in which key project stakeholders acknowledge their agreement on the need for the project?

answer

Sign-Off

question

IT investments that lower current inventory costs are examples of ______benefits

answer

Cost Reduction

question

A (n) is a document that provides financial justification for investing in a project

answer

Business Case

question

A(n) ____ strategy tailors and shapes products/services to fit a specific customer segment

answer

Customer intimacy

question

______ is not a potential advantage of using good project management techniques. A. Shorter Development time B. Higher worker morale C. Higher profit margin D. Lower cost of capital

answer

Lower Cost of capital

question

An individual proposes an IT project that will allow your organization to become the first rental car company to introduce a 'frequent driver' customer loyalty program. In this situation, the IT investment is targeted toward___

answer

competitive advantage

question

____feedback answers the question, is the system designed appropriately given its environment ?

answer

Second-order

question

All projects involve uncertainty(T/F)

answer

True

question

Your organization decides to install an information system that will streamline existing customer order processes. In this situation, the IT investment is targeted toward_______

answer

Business process improvement

question

In which of the five project management process groups is the most time and money usually spent?

answer

Executing

question

A stakeholder analysis is a technique for analyzing information to determine which stakeholders interests to focus on and how to increase stakeholder _____

answer

support

question

A(n) is a product or service produced or provided as part of a project

answer

Deliverable

question

During the course of most project life cycles, ___ increases and ____decreases

answer

Cost of changes;Stakeholder influence

question

All systems operate within a larger environment (T/F)

answer

True

question

A _____formally recognizes the existence of a project and provides direction on the project's objectives and management

answer

Project Charter

question

The project ____usually provides the direction and funding for the project

answer

Sponsor

question

A(n) strategy provides customers with reliable products/services at competitive prices.

answer

Operational excellence

question

A(n) is an arrangement of components that re related to accomplish common objectives

answer

System

question

Project ____may be defined as a test of whether a project has met scope, time, and cost goals

answer

Success

question

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

answer

Project

question

Meeting ____goals is not part of the triple constraint of project Management A. Scope B. Quality C. Time D. Cost

answer

B. Quality

question

The main purpose of project planning is to guide project _____

answer

Execution

question

The main planning tasks peformed as part of project scope management include planning scope management, collecting requirements, defining scope, and creating the ____

answer

Work breakdown structure

question

A _____is a significant event or point in time on a project

answer

Milestone

question

______includes the actual amount of time spent working on an activity plus elapsed time

answer

Duration

question

In a ____ dependency, the dependent task cannot begin until the task that it depends on is completed

answer

Finish-to-start

question

A(n) ___ path for a project is the series of activities that determine the earliest time by which the project can be completed

answer

Critical

question

The main disadvantage of ____ is that it can end up lengthening the project schedule, because starting some tasks too soon often increases project risk and results in rework

answer

Fast tracking

question

The critical path can change as the project progresses (T/F)

answer

True

question

A work breakdown structure should include ______

answer

Tasks

question

Spot develops three duration estimates for activity A: Optimistic is 6 days, pessimistic is 16 days, and most likely is 8 days. The PERT weighted average for activity A is ____days

answer

9 Days 6+6+(8*4)=54 22+32=54 54/6=9

question

Scope statements should include, at a minimum, a product scope description, product user acceptance criteria, and detailed information on all project _____

answer

Deliverables

question

_____dependencies involve relationships between project and non-project activities

answer

External

question

In a _____dependency, the dependent tasks cannot be completed until the tasks that it depends on is completed

answer

Finish-to-Finish

question

A(n) ____ links requirement source to implementation and verification

answer

Requirements traceability matrix

question

Work that is not included in the scope statement should be performed as needed (T/F)

answer

False

question

Name four strategic roles of IT in organizations

answer

1. Empowerment 2. Automation 3. Control 4. Collaboration

question

Project ___management involves generating, collecting, disseminating, and storing project information

answer

Communication

question

Project ___management includes acquiring or procuring goods and services for a project from outside the organization

answer

procurement

question

After thoroughly evaluating a supplier, many organizations summarize evaluations using a supplier ____ matrix-a type of weighted scoring model

answer

Evaluation Criteria Rating weight score Cost 8 .6 = 4.8 history 7 .4 = 2.8 =7

question

A RACI chart is a type of _______

answer

Responsibility Assignment Matrix

question

What two dimensions should you use when evaluating project risks?

answer

Probability and Impact

question

In a project setting, the ____creates and furnishes the request for proposal

answer

Buyer

question

A _____depicts how authority and responsibility are distributed within the project

answer

Project Organization Chart

question

Generally speaking, a cost-reimbursable contract creates more risk for the ______

answer

Buyer

question

______ Generates ideas for quality improvements by comparing specific project practices or product characteristics to those of other projects or products within or outside the organization

answer

Benchmarking

question

According to Douglas McGregor, people who believe in Theory ____ assume that workers dislike and avoid work if possible, so managers must use coercion, threats, and various control schemes to get workers to make adequate efforts to meet objectives

answer

Theory X

question

Resource____is a technique for resolving resource conflicts by delaying tasks

answer

Leveling

question

Spot and Fifi plan to get married next spring. Spot suggests that they have an outdoor ceremony. Fifi tells Spot that, due to the risk of bad weather, having an outdoor ceremony is a terrible idea. Moving the ceremony from an outdoor location to an indoor location - because of the risk of weather - is an example of risk _____

answer

Avoidance

question

Cost ___involves allocating the overall cost estimate to individual tasks over time to establish a baseline for measuring performance

answer

Budgeting

question

______ cost estimating techniques can increase the accuracy of the estimate but often take more time and money to develop

answer

Bottom-Up

question

Generally speaking, the more virtual a team, the harder it is for the team to establish trust AND a shared group identity (T/F)

answer

True

question

Virtual teams offer cost advantages to organizations(T/F)

answer

True

question

Ultimately it is the ____who decides if the quality level is acceptable

answer

Customer

question

A _____shows the number of resources required for or assigned to a project over time

answer

Resource histogram

question

Purchasing insurance is an example of risk

answer

Transference

question

In a project setting, the ____creates and furnishes the contract statement of work

answer

Buyer

question

Maslow suggests that each level of his hierarchy of needs is prerequisite for the level above (T/F)

answer

True

question

______ cost estimating techniques can increase the accuracy of the estimate but often take more time and money to develop

answer

Bottom-Up

question

The bottom four needs in Maslow's hierarchy are referred to as deficiency needs, and the highest level, ____, is considered a growth need

answer

Self-Actualization

question

Seller selection criteria should be specific AND Objective (T/F)

answer

True

question

A _____is a time-phased budget that project managers use to measure and monitor cost performance

answer

Cost Baseline

question

_____is the degree to which a set of inherent characteristics fulfill requirements A. Scope B. Quality C. Requirement fit D. Requirement Conformance E. None of the above

answer

None of the above

question

The project manager should be concerned with____

answer

Product quality and process quality

question

A ____maps project work to people in charge of performing the work

answer

Responsibility Assignment Matrix

question

A ____describes how the project team will engage stakeholders in project decisions and activities

answer

Stakeholder management plan

question

A(n) _____ links requirement source to implementation and verification

answer

Requirements traceability matrix

question

A project ____is an uncertainty that can have a negative or positive effect on meeting project objectives

answer

Risk

question

Project _____ management ensures that the project will satisfy the stated or implied needs for which it was untertaken

answer

Project Quality Management

question

What are the five levels of team development?

answer

- Form - Storm -Norm -Perform -Adjourn

question

A contract statement of work should be clear, ____ and ____

answer

Concise and Complete

question

List three of the five steps of effective delegation

answer

1) Define Task 2) Define deadline for task (schedule) 3) Define level of authority

question

List three of the four specific recommendations we discussed for managing virtual teams

answer

1) Emphasize teamwork skills 2) Promote self-leadership 3) Arrange face to face

question

Compared to a person with no goals, a person with goals will persist in the face of failure. List two more characteristics of a person with goals (compared to one without goals)

answer

1)More motivated 2)Clearer path to meet objectives 3) Attendance 4) Harder working 5) Higher chance of success

question

List four types of chronic time abusers

answer

1) Perfectionist 2) Procrastinator 3) People Pleaser 4)Preemptive

question

According to guest speaker Rusty Searle, project management is a science AND an art (T/F)

answer

True

1 of

Unlock all answers in this set

Unlock answers

question

The project management framework includes five process groups and ten _____________

answer

Knowledge Areas

question

An Individual proposes an IT project that will upgrade sales employees laptops to Windows 8. In this situation, the IT investment is targeted toward ____________

answer

Technology Renewal

question

A(n) ______________ is a document that provides financial justification for investing in a project

answer

Business Case

question

A stakeholder analysis is a technique for analyzing information to determine which stakeholders' interests to focus on and how to increase stakeholder ________

answer

Support

question

A(n) is a product or service produced or provided as part of a project:

answer

Deliverable

question

ALL systems operate within a larger environment (T/F)

answer

True

question

List two reasons why top management support is critical to project success

answer

1. Cooperation 2. Resources (people) 3. Timely Project Approvals 4. Mentor that also encourages young PM's

question

________ is formal acceptance of completed project deliverables by the customer or designated stakeholders

answer

Scope Validation

question

________refers to uncontrolled changes in a project's scope

answer

Scope Creep

question

answer

D. Risk

question

If your current schedule performance index is 1.6, your project is (behind/on-time/ahead) of schedule?

answer

Ahead of Schedule

question

The _______ should include requirements for formal acceptance and closure of contracts

answer

Contract itself

question

You cannot control the scope of a project unless you have first clearly defined the scope and set a scope validation process in place (T/F)

answer

True

question

______ is a project performance measurement technique that integrates scope, time, and cost data.

answer

Earned Value Management

question

Earned Value= _______multiplied by rate of performance

answer

Planned Value

question

If the budget at completion for a project is $100,000 and the cost performance index is .5, what is the estimate at completion?

answer

$200,000

question

A _____ chart helps show if there is a relationship between two variables

answer

Scatter

question

Updating the risk register is an optional part of project monitoring and control (T/F)

answer

False

question

Answering questions such as "What will you do differently on the next project based on your experience working on this project?" is part of a _____

answer

Lessons learned report

question

Earned Value analysis can be conducted at any level of a work breakdown structure (T/F)

answer

True

question

If your current cost performance index is 1, your project is: A. Under Budget B. Over Budget C. Ahead of Schedule D. Behind Schedule E. None of the above

answer

E. None of the above Project is actually meeting budget

question

Evaluation of any change to a project should include an impact analysis(T/F)

answer

True

question

When developing a(n) ____ plan, the project team should work with managers in affected operating departments, and the contents of the plan should be tailored to fit the support needs of the project

answer

Transition

question

_____ are reviews often performed during contract closure to identify lessons learned in the entire procurement process.

answer

Procurement audits

question

You must have a project baseline in order to conduct earned value analysis (T/F)

answer

True

question

_____ predict future project status and progress based on past information and trends

answer

Forecasts

question

A(n) ______ milestone refers to a milestone activity that was actually completed later then planned A. Stalled B. Uncontrolled C. Tracked D. Missed E. None of the Above

answer

E. None of the Above

question

List three Characteristics of Agile Development Methodologies

answer

question

Agile Manifesto (name 3 of the four parts)

answer

- People over processes - working software over comprehensive documentation -collaboration w/ customers over contract negotiation

question

List four topics that should be addressed in a project close-out meeting

answer

- Management of the big 3 (scope/time/cost) - Major changes - Lessons learned - Transition plan

question

The project management framework includes five process groups and ten _____

answer

Knowledge Areas

question

An individual proposes an IT project that will upgrade sales employees' laptops to Windows 8. In this situation, the IT investment is targeted toward _____

answer

Technology Renewal

question

_______is the application of knowledge, skills, tools and techniques to project activities to meet project requirements

answer

Project Management

question

answer

Strategic,tactical

question

What is a crucial part of the project charter-a section in which key project stakeholders acknowledge their agreement on the need for the project?

answer

Sign-Off

question

IT investments that lower current inventory costs are examples of ______benefits

answer

Cost Reduction

question

A (n) is a document that provides financial justification for investing in a project

answer

Business Case

question

A(n) ____ strategy tailors and shapes products/services to fit a specific customer segment

answer

Customer intimacy

question

______ is not a potential advantage of using good project management techniques. A. Shorter Development time B. Higher worker morale C. Higher profit margin D. Lower cost of capital

answer

Lower Cost of capital

question

answer

competitive advantage

question

____feedback answers the question, is the system designed appropriately given its environment ?

answer

Second-order

question

All projects involve uncertainty(T/F)

answer

True

question

Your organization decides to install an information system that will streamline existing customer order processes. In this situation, the IT investment is targeted toward_______

answer

Business process improvement

question

In which of the five project management process groups is the most time and money usually spent?

answer

Executing

question

A stakeholder analysis is a technique for analyzing information to determine which stakeholders interests to focus on and how to increase stakeholder _____

answer

support

question

A(n) is a product or service produced or provided as part of a project

answer

Deliverable

question

During the course of most project life cycles, ___ increases and ____decreases

answer

Cost of changes;Stakeholder influence

question

All systems operate within a larger environment (T/F)

answer

True

question

A _____formally recognizes the existence of a project and provides direction on the project's objectives and management

answer

Project Charter

question

The project ____usually provides the direction and funding for the project

answer

Sponsor

question

A(n) strategy provides customers with reliable products/services at competitive prices.

answer

Operational excellence

question

A(n) is an arrangement of components that re related to accomplish common objectives

answer

System

question

Project ____may be defined as a test of whether a project has met scope, time, and cost goals

answer

Success

question

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

answer

Project

question

Meeting ____goals is not part of the triple constraint of project Management A. Scope B. Quality C. Time D. Cost

answer

B. Quality

question

The main purpose of project planning is to guide project _____

answer

Execution

question

The main planning tasks peformed as part of project scope management include planning scope management, collecting requirements, defining scope, and creating the ____

answer

Work breakdown structure

question

A _____is a significant event or point in time on a project

answer

Milestone

question

______includes the actual amount of time spent working on an activity plus elapsed time

answer

Duration

question

In a ____ dependency, the dependent task cannot begin until the task that it depends on is completed

answer

Finish-to-start

question

A(n) ___ path for a project is the series of activities that determine the earliest time by which the project can be completed

answer

Critical

question

The main disadvantage of ____ is that it can end up lengthening the project schedule, because starting some tasks too soon often increases project risk and results in rework

answer

Fast tracking

question

The critical path can change as the project progresses (T/F)

answer

True

question

A work breakdown structure should include ______

answer

Tasks

question

Spot develops three duration estimates for activity A: Optimistic is 6 days, pessimistic is 16 days, and most likely is 8 days. The PERT weighted average for activity A is ____days

answer

9 Days 6+6+(8*4)=54 22+32=54 54/6=9

question

Scope statements should include, at a minimum, a product scope description, product user acceptance criteria, and detailed information on all project _____

answer

Deliverables

question

_____dependencies involve relationships between project and non-project activities

answer

External

question

In a _____dependency, the dependent tasks cannot be completed until the tasks that it depends on is completed

answer

Finish-to-Finish

question

A(n) ____ links requirement source to implementation and verification

answer

Requirements traceability matrix

question

Work that is not included in the scope statement should be performed as needed (T/F)

answer

False

question

Name four strategic roles of IT in organizations

answer

1. Empowerment 2. Automation 3. Control 4. Collaboration

question

Project ___management involves generating, collecting, disseminating, and storing project information

answer

Communication

question

Project ___management includes acquiring or procuring goods and services for a project from outside the organization

answer

procurement

question

After thoroughly evaluating a supplier, many organizations summarize evaluations using a supplier ____ matrix-a type of weighted scoring model

answer

Evaluation Criteria Rating weight score Cost 8 .6 = 4.8 history 7 .4 = 2.8 =7

question

A RACI chart is a type of _______

answer

Responsibility Assignment Matrix

question

What two dimensions should you use when evaluating project risks?

answer

Probability and Impact

question

In a project setting, the ____creates and furnishes the request for proposal

answer

Buyer

question

A _____depicts how authority and responsibility are distributed within the project

answer

Project Organization Chart

question

Generally speaking, a cost-reimbursable contract creates more risk for the ______

answer

Buyer

question

______ Generates ideas for quality improvements by comparing specific project practices or product characteristics to those of other projects or products within or outside the organization

answer

Benchmarking

question

answer

Theory X

question

Resource____is a technique for resolving resource conflicts by delaying tasks

answer

Leveling

question

answer

Avoidance

question

Cost ___involves allocating the overall cost estimate to individual tasks over time to establish a baseline for measuring performance

answer

Budgeting

question

______ cost estimating techniques can increase the accuracy of the estimate but often take more time and money to develop

answer

Bottom-Up

question

Generally speaking, the more virtual a team, the harder it is for the team to establish trust AND a shared group identity (T/F)

answer

True

question

Virtual teams offer cost advantages to organizations(T/F)

answer

True

question

Ultimately it is the ____who decides if the quality level is acceptable

answer

Customer

question

A _____shows the number of resources required for or assigned to a project over time

answer

Resource histogram

question

Purchasing insurance is an example of risk

answer

Transference

question

In a project setting, the ____creates and furnishes the contract statement of work

answer

Buyer

question

Maslow suggests that each level of his hierarchy of needs is prerequisite for the level above (T/F)

answer

True

question

______ cost estimating techniques can increase the accuracy of the estimate but often take more time and money to develop

answer

Bottom-Up

question

The bottom four needs in Maslow's hierarchy are referred to as deficiency needs, and the highest level, ____, is considered a growth need

answer

Self-Actualization

question

Seller selection criteria should be specific AND Objective (T/F)

answer

True

question

A _____is a time-phased budget that project managers use to measure and monitor cost performance

answer

Cost Baseline

question

_____is the degree to which a set of inherent characteristics fulfill requirements A. Scope B. Quality C. Requirement fit D. Requirement Conformance E. None of the above

answer

None of the above

question

The project manager should be concerned with____

answer

Product quality and process quality

question

A ____maps project work to people in charge of performing the work

answer

Responsibility Assignment Matrix

question

A ____describes how the project team will engage stakeholders in project decisions and activities

answer

Stakeholder management plan

question

A(n) _____ links requirement source to implementation and verification

answer

Requirements traceability matrix

question

A project ____is an uncertainty that can have a negative or positive effect on meeting project objectives

answer

Risk

question

Project _____ management ensures that the project will satisfy the stated or implied needs for which it was untertaken

answer

Project Quality Management

question

What are the five levels of team development?

answer

- Form - Storm -Norm -Perform -Adjourn

question

A contract statement of work should be clear, ____ and ____

answer

Concise and Complete

question

List three of the five steps of effective delegation

answer

1) Define Task 2) Define deadline for task (schedule) 3) Define level of authority

question

List three of the four specific recommendations we discussed for managing virtual teams

answer

1) Emphasize teamwork skills 2) Promote self-leadership 3) Arrange face to face

question

Compared to a person with no goals, a person with goals will persist in the face of failure. List two more characteristics of a person with goals (compared to one without goals)

answer

1)More motivated 2)Clearer path to meet objectives 3) Attendance 4) Harder working 5) Higher chance of success

question

List four types of chronic time abusers

answer

1) Perfectionist 2) Procrastinator 3) People Pleaser 4)Preemptive

question

According to guest speaker Rusty Searle, project management is a science AND an art (T/F)

answer

True

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