PMnote

Flashcard maker : Lily Taylor
A project is:
A temporary endeavor undertaken to create a unique product, service, or result.
Project management is:
The application of knowledge, skills, tools, and techniques to project activities to meet project requirements.
Managing a project typically includes:
Balancing the competing project constraints including scope, quality, schedule, budget, resources, and risk.
Portfolio management refers to:
Identifying, prioritizing, authorizing, managing, and controlling projects, programs, and other related work, to achieve specific strategic business objectives.
Project success is measured by:
Product and project quality, timeliness, budget compliance, and degree of customer satisfaction.
A program is a:
Group of related projects managed in a coordinated way.
A primary function of a project management office (PMO) is to support the project manager in a variety of ways which generally include all of the following
“Managing shared resources across all projects administered by the PMO.
Identifying and developing project management methodology, best practices, and standards.
Coaching, mentoring, training, and oversight.
All of the following are true about projects and operations
“Operations are ongoing, repetitive, and permanent endeavors while projects are temporary endeavors.
Projects require project management while operations require business process management or operations management.
Projects can intersect with operations at various points during the product life cycle. At each point, deliverables and knowledge are transferred between the project and operations for implementation of the delivered work.”
The PMBOK® Guide is the standard for:
Managing most projects most of the time across many types of industries.
Enterprise environmental factors refer to both internal and external environmental factors that surround or influence a project’s success. All of the following are true about these factors
“Enterprise environmental factors include organizational culture, structure, and processes.
Enterprise environmental factors include government or industry standards, such as regulatory agency regulations, codes of conduct, product standards, quality standards, and workmanship standards.
Enterprise environmental factors include project management information systems (e.g., an automated tool, such as a scheduling software tool, a configuration management system, an information collection and distribution system, or web interfaces to other online automated systems).”
The collection of generally sequential and sometimes overlapping project phases, whose name and number are determined by the management and control needs of the organization or organizations involved in the project, is known as the:
Project life cycle.
All of the following are true about project phases and the project life cycle
“Stakeholder influences, risk, and uncertainty are greatest at the start of the project. These factors decrease over the life of the project. The ability to influence the final characteristics of the project’s product, without significantly impacting cost, is highest at the start of the project and decreases as the project progresses towards completion.The cost of changes and correcting errors typically increases substantially as the project approaches completion.
Which of the following is true about project stakeholders
“They are persons or organizations who are actively involved in the project.
They are persons or organizations whose interests may be positively or negatively affected by the performance or completion of the project.
They are persons or organizations that may exert influence over the project, its deliverables, and the project team members.
In considering project stakeholders, the project management team must do all of the following
“Identify both internal and external stakeholders.
Determine project requirements and expectations of all parties involved.
Manage the influence of the various stakeholders in relation to the project requirements to ensure a successful outcome.
Organizational cultures and styles:
May have a strong influence on a project’s ability to meet its objectives.
The project manager has the greatest level of independence and authority in a _______________ organization.
Projectized
The project manager has the lowest level of authority in a __________________ organization:
Functional
A project coordinator may typically be found in a _____________________ organization.
Weak matrix
The project manager is more likely to have a full-time role in a organization:
Projectized
A common title for the project manager’s role in a projectized organization is:
Project Manager.
All of the following are generally true about the project management office (PMO)
“It may provide project management support functions.
It may provide training, mentoring, and coaching of project managers.
It may actually be responsible for the direct management of a project.”
Different or conflicting objectives among project stakeholders:
Can make it difficult for project managers to manage stakeholder expectations.
For a large, complex project with cross-functional project needs, the following organizational structure gives considerable authority to the project manager:
Strong matrix organization.
All of the following statements about the level of authority of the project manager are true
“In a functional organization, the project manager has little or no authority.
In weak matrices, the project manager role is more that of a coordinator or expediter than that of a manager.
The balanced matrix organization does not provide the project manager with the full authority over the project and project funding.”
All of the following statements about the project life cycle and the product life cycle are true
“The product life cycle consists of generally sequential, non-overlapping product phases determined by the manufacturing and control need of the organization.
The last product life cycle phase for a product is generally the product’s retirement.
Generally, a project life cycle is contained within one or more product life cycles.
The five Project Management Process Groups are:
Initiating, Planning, Executing, Monitoring and Controlling, and Closing.
Project Management Process Groups are:
Overlapping activities that occur throughout the project.
The linkages between Project Management Process Groups are best described by the following:
Process Groups are linked by the outputs they produce—the output of one process generally becomes an input to another process or is a deliverable of the project.
The relationship between Project Management Process Groups and project life cycle phases is best described by the following:
Process Groups interact within each project phase and are normally repeated for each phase.
For a project to be successful, the project team must generally do all of the following
“Comply with requirements to meet stakeholder needs and expectations.
Balance the competing demands of scope, time, cost, quality, resources, and risk to produce the specified product, service, or result.
Select appropriate processes within the Project Management Process Groups to meet the project objectives.
All of the following are characteristics of Project Management Process Groups
“Project Management Process Groups are linked by the outputs they produce.
The Process Groups are seldom either discrete or one-time events; they are overlapping activities that occur throughout the project.
When a project is divided into phases, the Process Groups are invoked as appropriate to effectively drive the project to completion in a controlled manner.
The Initiating Process Group consists of the processes performed to
Define a new project or a new phase of an existing project by obtaining authorization to start the project or phase.
Invoking the Initiating processes at the start of each phase:
Helps keep the project focused on the business need the project was undertaken to address.
Identifying quality requirements and/or standards for the project and product and documenting how the project will demonstrate compliance should be developed in the:
Planning process.
The schedule control process for a project:
Is necessary for monitoring the status of the project and managing changes to the schedule baseline.
All of the following processes are performed in the Executing Process Group
“Completing the work defined in the project management plan to satisfy the project specifications.
Coordinating people and resources in accordance with the project management plan.
Integrating and performing the activities of the project in accordance with the project management plan.
Which process is included in Project Integration Management?
Develop project management plan.
All of the following are characteristics of the project charter
“It formally authorizes a project or a phase.
Projects are authorized by someone external to the project at a level that is appropriate to funding the project that either creates the project charter or delegates that duty to the project manager.
It provides the project manager with the authority to apply resources to project activities.
Which of the following is true about tools and techniques of integrated change control?
“Include expert judgment.
Include change control meetings.
A change control board is responsible for meeting and reviewing change requests and approving or rejecting them.
Which of the following is an acceptable cause for ”re-baselining” a $10 million project?
The client has approved an addition to the scope of the project with a $150,000 budget increase and a 2-week extension of the scheduled completion.
A configuration management system with integrated change control provides a standardized, effective, and efficient way to centrally manage approved changes and baselines within a project. Configuration control is focused on:
The specification of both the deliverables and the processes while change control is focused on identifying, documenting, and controlling changes to the project and the product baselines.
A change control board (CCB) is:
A formally constituted group of stakeholders responsible for reviewing, evaluating, approving, delaying, or rejecting changes to a project, with all decisions and recommendations being recorded.
The Perform Integrated Change Control process includes all of the following change management activities
“Reviewing, analyzing, and approving change requests promptly, which is essential, as a slow decision may negatively affect time, cost, or the feasibility of a change.
Maintaining the integrity of baselines by releasing only approved changes for incorporation into the project management plan and project documents.
Coordinating changes across the entire project (e.g., a proposed schedule change will often affect cost, risk, quality, and staffing).
All of the following are characteristics of the project management information system (PMIS)
“It is part of the enterprise environmental factors.
It provides access to an automated tool, such as a scheduling software tool, a configuration management system, an information collection and distribution system, or web interfaces to other online automated systems.
It is used during the Direct and Manage Project Execution effort.
Outputs of the Monitor and Control Project Work process include all of the following
“Change requests.
Project management plan updates.
Project document updates.
Actions and activities necessary to satisfy completion or exit criteria for the phase or project and to transfer the project’s products, services, or results to the next phase or to production and/or operations are addressed:
As part of the Close Project or Phase process.
All of the following are true about the project scope management plan
“It provides guidance on how project scope will be defined, documented, managed, and controlled.
It provides guidance on how project scope will be verified.
It may be formal or informal, highly detailed, or broadly framed, based upon the needs of the project.
Collect Requirements is the process of defining and documenting stakeholders’ needs to meet the project objectives. All of the following are true about this process
“The project’s success is directly influenced by the care taken in capturing and managing project and product requirements.
Requirements include the quantified and documented needs and expectations of the sponsor, customer, and other stakeholders.
Requirements become the foundation of the WBS. Cost, schedule, and quality planning are all built upon these requirements.
All of the following are true about the project scope statement
“It describes, in detail, the project’s deliverables and the work required to create those deliverables.
It provides a common understanding of the project scope among project stakeholders.
It may contain explicit scope exclusions that can assist in managing stakeholder expectations.
All of the following are true about the Control Scope process
“Control Scope is the process of monitoring the status of the project and product scope and managing changes to the scope baseline.
Project scope control is used to manage the actual changes when they occur and is integrated with the other control processes.
Scope control includes determining the cause and degree of variance relative to the scope baseline and deciding whether corrective or preventive action is required.
Scope control includes determining the cause and degree of variance relative to the scope baseline and deciding whether corrective or preventive action is required.
Scope control includes determining the cause and degree of variance relative to the scope baseline and deciding whether corrective or preventive action is required.
Which of the following statements is true about the work breakdown structure (WBS)?
The WBS is a deliverable-oriented hierarchical decomposition of the work to be executed by the project team to accomplish the project objectives and create the required deliverables.
The following is an example of a constraint associated with the project scope that limits the team’s options in scope definition:
Lists and describes the specific project constraints associated with the project scope that limits the team’s options, for example, a predefined budget or any imposed dates or schedule milestones that are issued by the customer or performing organization. When a project is performed under contract, contractual provisions will generally be constraints. Information on constraints may be listed in the project scope statement or in a separate log.
An input to the Define Scope process is:
“Project Charter
Requirements Documentation
Organizational Process Assets “
What is the WBS typically used for?
To organize and define the total scope of the project.
The following is true about the WBS:
Each descending level of the WBS represents an increasingly detailed definition of the project work.
An output of the Define Scope process is:
“Project Scope Statement
Project Document Updates
Which of the following is true about the Verify Scope process
It is the process of formalizing acceptance of the completed project deliverables.
Which of the following is an output of the Control Scope process?
“Work Performance Measurements
Organizational Process Assets Updates
Change Requests
Project Management Plan Updates
The Project Time Management processes include:
Define Activities, Sequence Activities, Estimate Activity Resources, Estimate Activity Durations, Develop Schedule, and Control Schedule.
In rolling wave planning:
The work to be accomplished in the near term is planned in detail and future work is planned at a higher level of the WBS.
The precedence diagramming method (PDM):
is a method used in Critical Path Methodology (CPM) for constructing a project schedule network diagram that uses boxes or rectangles, referred to as nodes, to represent activities, and connects them with arrows that show the logical relationships that exist between them.
The duration of the activity is affected by all of the following
“The estimated activity resource requirements.
The resources assigned to the activity.
The availability of the resources assigned to the activity.
The ”fast tracking” method of schedule compression involves:
Performing in parallel activities that are normally performed in sequence, which may result in rework and increased risk. Fast tracking only works if activities can be overlapped to shorten the duration.
Mandatory dependencies.
Mandatory dependencies are those that are contractually required or inherent in the nature of the work. The project team determines which dependencies are mandatory during the process of sequencing the activities. Mandatory dependencies often involve physical limitations, such as on a construction project where it is impossible to erect the superstructure until after the foundation has been built, or on an electronics project, where a prototype must be built before it can be tested. Mandatory dependencies are also sometimes referred to as hard logic.
Discretionary dependencies.
The project team determines which dependencies are discretionary during the process of sequencing the activities. Discretionary dependencies are sometimes referred to as preferred logic, preferential logic, or soft logic. Discretionary dependencies are established based on knowledge of best practices within a particular application area or some unusual aspect of the project where a specific sequence is desired, even though there may be other acceptable sequences.
Define Activities: Inputs
“Scope Baseline
Enterprise Environmental Factors
Organizational Process Assets
A schedule compression technique to determine how to obtain the greatest amount of compression for the least incremental cost is called:
Crashing.
Bar charts.
These charts, with bars representing activities, show activity start and end dates, as well as expected durations. Bar charts are relatively easy to read, and are frequently used in management presentations. For control and management communication, the broader, more comprehensive summary activity, sometimes referred to as a hammock activity, is used between milestones or across multiple interdependent work packages, and is displayed in bar chart reports.
The critical path is established by calculating the following dates:
Early start, early finish, late start, late finish.
All of the following are true about resource leveling
“It can be used to keep resource usage at a constant level during certain time periods.
It can often cause the original critical path to change.
It is used to optimize the distribution of work among resources.
The following is true about the critical chain:
It is a schedule network analysis technique that modifies the project schedule to account for limited resources.
”Crashing” in time management is:
A schedule compression technique that typically includes reducing schedule activity durations and increasing the assignment of resources on schedule activities.
All of the following choices represent inputs to the Estimate Activity Resources
“Activity List
Activity Attributes
Resource Calendars
Enterprise Environmental Factors
Organizational Process Assets
Output from the Estimate Activity Resources process includes:
Identification of the types and quantities of resources required for each activity.
As one of the tools and techniques of the Sequence Activities process, a lead:
A lead allows an acceleration of the successor activity. For example, on a project to construct a new office building, the landscaping could be scheduled to start 2 weeks prior to the scheduled punch list completion. This would be shown as a finish-to-start with a 2-week lead.
Program evaluation and review technique (PERT) uses:
The weighted average of three point duration estimates to calculate the expected activity duration.
Analogous duration estimating is:
“Analogous duration estimating is frequently used to estimate project duration when there is a limited amount of detailed information about the project for example, in the early phases of a project. Analogous estimating uses historical information and expert judgment.
Analogous estimating is generally less costly and time consuming than other techniques, but it is also generally less accurate.
The critical chain:
Adds duration buffers that are non-work schedule activities to manage uncertainty and focuses on managing remaining buffer durations against the remaining durations of task chains.
Project Cost Management includes all of the following processes
“Estimate Costs.
Determine Budget.
Control Costs.
All of the following are true about cost estimates
“Cost estimates are generally expressed in units of some currency (i.e., dollars, euro, yen, etc.), although in some instances other units of measure, such as staff hours or staff days, are used.
Costs are estimated for all resources that will be charged to the project.
Cost estimates are quantitative assessments of the likely costs for resources required to complete project activities.
Project cost control includes all of the following
“Informing appropriate stakeholders of all approved changes and associated cost.
Monitoring cost performance to isolate and understand variances from the approved cost baseline.
Monitoring work performance against funds expended.
An activity cost estimate includes all of the following resource categories
labor, materials, equipment, services, and facilities, as well as special categories such as an inflation allowance or contingency costs.
Parametric estimating involves:
Using a statistical relationship between historical data and other variables to calculate an estimate for activity parameters, such as cost, budget, and duration.
Analogous cost estimating:
Relies on the actual cost of previous, similar projects as the basis for estimating the cost of the current project.
Which of the following represents processes concerned with establishing and controlling the cost baseline?
Determine Budget and Control Costs.
The cost performance baseline has all of the following
“It is an authorized time-phased budget at completion (BAC) used to measure, monitor, and control overall cost performance on the project.
It is developed as a summation of the approved budgets by time period.
It is typically displayed in the form of an S-curve.
The cost management plan has all of the following characteristics
“It may specify variance thresholds for monitoring cost performance to indicate an agreed-upon amount of variation to be allowed before some action needs to be taken.
It may be formal or informal, highly detailed or broadly framed, based upon the needs of the project.
It sets out the format and establishes the criteria for planning, structuring, estimating, budgeting, and controlling project costs.
Earned value management (EVM) is a commonly used:
Method of project performance measurement.
Earned value (EV) involves all of the following
“Value of work performed expressed in terms of the approved budget assigned to that work for an activity or work breakdown structure component.
Budgeted cost of work performed.
Budgeted amount for the work actually completed.
Understanding, evaluating, defining, and managing expectations are essential to satisfying:
Customer requirements.
One of the fundamental tenets of modern quality management states that:
Quality is planned, designed, and built in—not inspected in.
All of the following are primary benefits of meeting quality requirements
The primary benefits of meeting quality requirements can include less rework, higher productivity, lower costs, and increased stakeholder satisfaction. A business case for each quality activity compares the cost of the quality step to the expected benefit.
Inputs to quality control include all of the following
“Project Management Plan
Quality Metrics
Quality Checklists
Work Performance Measurements
Approved Change Requests
Deliverables
Organizational Process Assets
Design of experiments (DOE) is a statistical method used to:
identify which factors may influence specific variables of a product or process under development or in production. DOE should be used during the Plan Quality process to determine the number and type of tests and their impact on cost of quality.
The quality management plan provides input to ____________ and includes quality control, quality assurance, and continuous process improvement approaches for the project.
The overall project management plan.
Perform Quality Assurance is the process of:
Auditing the quality requirements and the results from quality control measurements to ensure appropriate quality standards and operational definitions are used.
A ____________________ is a specific type of histogram, ordered by frequency of occurrence, which shows how many defects were generated by type or category of identified cause.
Pareto chart.
Cost of quality
Cost of quality includes all costs incurred over the life of the product by investment in preventing nonconformance to requirements, appraising the product or service for conformance to requirements, and failing to meet requirements (rework). Failure costs are often categorized into internal (found by the project) and external (found by the customer). Failure costs are also called cost of poor quality.
Due to the temporary nature of a project, the _______________________ may choose to invest in product quality improvement, especially defect prevention and appraisal:
Sponsoring organization.
Tools and techniques of the Perform Quality Control process include all of the
.1 Cause and Effect Diagrams
.2 Control Charts
.3 Flowcharting
.4 Histogram
.5 Pareto Chart
.6 Run Chart
.7 Scatter Diagram
.8 Statistical Sampling
.9 Inspection
.10 Approved Change Requests Review
Project Quality Management includes the 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.
Quality and grade are not the same. A fundamental distinction is that:
Quality is ”the degree to which a set of inherent characteristics fulfill requirements” Grade is a category assigned to products or services having the same functional use but different technical characteristics. While a quality level that fails to meet quality requirements is always a problem, low grade may not be.
Control charts have all of the following characteristics
They are used to determine whether or not a process is stable or has predictable performance.
They are used to monitor various types of output variables.
They are used to illustrate how a process behaves over time and when a process is subject to special cause variation, resulting in an out-of-control condition.
Perform Quality _____________________ is the process of auditing the quality requirements and the results from quality control measurements to ensure appropriate quality standards and operational definitions are used.
Assurance.
In using cost-benefit analysis in the Plan Quality process it can be noted that:
The primary benefits of meeting quality requirements can include less rework, higher productivity, lower costs, and increased stakeholder satisfaction.
All of the following are characteristics of benchmarking
Benchmarking involves comparing actual or planned project practices to those of comparable projects to identify best practices, generate ideas for improvement, and provide a basis for measuring performance. These other projects can be within the performing organization or outside of it and can be within the same or in another application area
All of the following are true about Six Sigma
It is a quality improvement initiative undertaken by the performing organization.
It should improve the quality of the project’s management.
It should improve the quality of the project’s product.
The major processes of Project Human Resource Management are the following:
Develop Human Resource Plan, Acquire Project Team, Develop Project Team, and Manage Project Team.
The Acquire Project Team process includes obtaining the team necessary to complete project assignments. The enterprise environmental factors that can influence this process generally include all of the following
” Availability.
Prior experience.
Personnel administration policies such as those that affect outsourcing.
It is important that the staffing management plan addresses how team members will be released when they are no longer needed on the project for all of the following reasons
“To reduce project costs.
To improve morale when smooth transitions to upcoming projects are already planned.
To help mitigate human resource risks that may occur during or at the end of the project.
To be effective, recognition and rewards systems should have the following characteristics
“There should be clear criteria for rewards and a planned system for their use.
Recognition and rewards should be based on activities and performance under a person’s control.
Cultural differences should be considered when determining recognition and rewards.
Co-location is one of the tools and technique used to:
Develop the project team.
Tools and techniques to acquire the project team include all of the following
.1 Pre-assignment
.2 Negotiation
.3 Acquisition
.4 Virtual Teams
The human resource plan should generally include all of the following
“Roles and responsibilities
Project organization charts
Staffing management plan
All of the following are true about conflict
It is inevitable in a project environment and should be addressed early.
It should be addressed usually in private.
It should be addressed using a direct, collaborative approach.
The responsibility assignment matrix (RAM) is:
used to illustrate the connections between work packages or activities and project team members. On larger projects, RAMs can be developed at various levels. The matrix format shows all activities associated with one person and all people associated with one activity. This also ensures that there is only one person accountable for any one task to avoid confusion.
A resource histogram has all of the following characteristics
This bar chart illustrates the number of hours a person, department, or entire project team will be needed each week or month over the course of the project. The chart can include a horizontal line that represents the maximum number of hours available from a particular resource. Bars that extend beyond the maximum available hours identify the need for a resource leveling strategy, such as adding more resources or modifying the schedule.
Team building has all of the following
Team-building activities can vary from a five-minute agenda item in a status review meeting to an off-site, professionally facilitated experience designed to improve interpersonal relationships.
Team-building strategies are particularly valuable when team members operate from remote locations without the benefit of face-to-face contact.
Team building is an ongoing process. To effectively manage inevitable changes in the project environment, a continued or renewed team-building effort is required.
Training has all of the following characteristics
It includes all activities designed to enhance the competencies of the project team members.
It can be formal or informal. Examples of training methods include classroom, online, computer-based, on-the-job training from another project team member, mentoring, and coaching.
If project team members lack necessary management or technical skills, such skills can be developed as part of the project work.
Effective team development strategies and activities are expected to increase the team’s performance, which increases the likelihood of meeting project objectives. The evaluation of a team’s effectiveness may include all of the following indicators
“Improvements in skills that allow individuals to perform assignments more effectively.
Improvements in competencies that help the team perform better as a team.
Reduced staff turnover rate.
During the course of many projects, negotiation is:
An integral part of project management and likely for staff assignments.
Questions that may arise when planning staff acquisition for a project generally include all of the following
Whether the human resources come from within the organization or from external, contracted sources.
The costs associated with each level of expertise needed for the project.
The extent of assistance that the organization’s human resource department and functional managers can provide to the project management team.
Generally acknowledged techniques for resolving conflict include:
• Withdrawing/Avoiding. Retreating from an actual or potential conflict situation.
• Smoothing/Accommodating. Emphasizing areas of agreement rather than areas of difference.
• Compromising. Searching for solutions that bring some degree of satisfaction to all parties.
• Forcing. Pushing one’s viewpoint at the expense of others; offers only win-lose solutions.
• Collaborating. Incorporating multiple viewpoints and insights from differing perspectives; leads to consensus and commitment.
• Confronting/Problem Solving. Treating conflict as a problem to be solved by examining alternatives; requires a give-and-take attitude and open dialogue.
The major processes of Project Communications Management are:
Identify Stakeholders, Plan Communications, Distribute Information, Manage Stakeholder Expectations, and Report Performance.
Inputs to the Plan Communications process include:
Stakeholder register, stakeholder management strategy, enterprise environmental factors, and organizational process assets.
The communications management plan usually provides all of the following
Information to be communicated, including language, format, content, and level of detail.
Time frame and frequency for the distribution of required information.
Methods or technologies used to convey the information, such as memos, e-mail, and/or press releases.
Manual filing systems, electronic databases, electronic communication tools, and web interfaces to scheduling and project management software are examples of:
Information distribution tools.
Factors related to communication technology that can affect the project generally include all of the following
“Duration of the project.
Availability of technology.
Urgency of the need for information.
Tools and techniques for the Report Performance process generally include all of the following
.1 Variance Analysis
.2 Forecasting Methods
.3 Communication Methods
.4 Reporting Systems
As part of the communications process, the sender is responsible for:
making the information clear and complete so that the receiver can receive it correctly, and for confirming that it is properly understood
As part of the communications process, the receiver is responsible for:
making sure that the information is received in its entirety, understood correctly, and acknowledged
Information typically used to determine project communication requirements includes all of the following
Project organization and stakeholder responsibility relationships.
Disciplines, departments, and specialties involved in the project.
Logistics of how many persons will be involved with the project and at which locations.
The performance reporting process involves the periodic collection and analysis of baseline versus actual data. A simple status report might show performance information, such as percent complete, or status dashboards for:
Each area (i.e., scope, schedule, cost, and quality).
Communication activity has many potential dimensions that generally include all of the following
• Hard-copy document distribution, manual filing systems, press releases, and shared-access electronic databases;
• Electronic communication and conferencing tools, such as e-mail, fax, voice mail, telephone, video and web conferencing, websites and web publishing; and
• Electronic tools for project management, such as web interfaces to scheduling and project management software, meeting and virtual office support software, portals, and collaborative work management tools.
All of the following are information distribution tools
• Hard-copy document distribution, manual filing systems, press releases, and shared-access electronic databases;
• Electronic communication and conferencing tools, such as e-mail, fax, voice mail, telephone, video and web conferencing, websites and web publishing; and
• Electronic tools for project management, such as web interfaces to scheduling and project management software, meeting and virtual office support software, portals, and collaborative work management tools.
Lessons learned documentation generally includes all of the following
” the causes of issues, reasoning behind the corrective action chosen, and other types of lessons learned about information distribution.
Lessons learned are documented and distributed so that they become part of the historical database for both the project and the performing organization.
The major processes of Project Risk Management are:
Plan Risk Management, Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, Plan Risk Responses, and Monitor and Control Risks.
Strategies for Negative Risks or Threats
Three of the following strategies typically deal with threats or risks that may have negative impacts on project objectives if they occur. The fourth strategy, accept, can be used for negative risks or threats as well as positive risks or opportunities. These strategies, described below, are to avoid, transfer, mitigate, or accept
Risk transference nearly always involves:
Payment of a risk premium to the party taking on the risk.
To be successful, the organization should be committed to address risk management:
Proactively and consistently throughout the project.
In the Plan Risk Responses process, an accept strategy indicates that the project team has decided:
Not to change the project management plan to deal with a risk, or is unable to identify any other suitable response strategy.
The main output of the Identify Risks process is:
Risk register.
A thorough analysis of the ____________________ will help identify potential risks to the project.
Risk identification checklist based on historical information and knowledge
All of the following are inputs to the Identify Risks process
.1 Risk Management Plan
.2 Activity Cost Estimates
.3 Activity Duration Estimates
.4 Scope Baseline
.5 Stakeholder Register
.6 Cost Management Plan
.7 Schedule Management Plan
.8 Quality Management Plan
.9 Project Documents
.10 Enterprise Environmental Factors
.11 Organizational Process Assets
Plan Risk Responses: Outputs
.1 Risk Register Updates
.2 Risk-Related Contract Decisions
.3 Project Management Plan Updates
.4 Project Document Updates
Tools and techniques of the Perform Quantitative Risk Analysis process are:
Data gathering and representation techniques, quantitative risk analysis and modeling techniques, and expert judgment.
As an output of the Perform Quantitative Risk Analysis process, the risk register is updated. These updates include:
Prioritized list of quantified risks.
Risk impact assessment to investigate the potential effect on a project objective such as schedule, cost, quality, or performance has the following characteristics
Evaluation of each risk can be conducted using a probability and impact matrix that leads to rating the risks as low, moderate, or high priority.
Approaches used in evaluating risk impacts related to project objectives could be relative, numeric, linear, or nonlinear.
Usually, risk-rating rules are specified by the organization in advance of the project and can be tailored to the specific project.
Monitor and Control Risks: Outputs
.1 Risk Register Updates
.2 Organizational Process Assets Updates
.3 Change Requests
.4 Project Management Plan Updates
.5 Project Document Updates
The Delphi technique has all of the following characteristics
It is a way to reach a consensus of experts on a subject such as project risk.
It is a technique in which project risk experts participate anonymously.
It helps reduce bias in the data and keeps any one person from having undue influence on the outcome.
The risk rating:
Is calculated by multiplying the probability of the occurrence of a risk times its impact (relative scale) on an objective (e.g., cost, time, scope, or quality) if it were to occur.
Sensitivity analysis:
Examines the extent to which the uncertainty of each project element affects the objective being examined when all other uncertain elements are held at their baseline values.
All of the following are characteristics of a decision tree
A decision tree is a diagram that describes a decision under consideration and the implications of choosing one or another of the available alternatives.
Decision tree analysis is a risk analysis tool that can be used to choose the most appropriate responses.
Decision tree analysis uses expected monetary value (EMV) analysis to help the organization identify the relative values of alternative actions.
The risk management plan generally includes all of the following
” Methodology.
Definitions of risk probability and impact.
Probability and impact matrix.
The Perform Qualitative Risk Analysis process assesses the priority of identified risks using all of the following
“Relative probability or likelihood of occurrence of identified risks
Impact on project objectives if the identified risks occur.
The organization’s risk tolerance associated with the project constraints of cost, schedule, scope, and quality.
As an output of the Monitor and Control Risks process, an updated risk register generally includes some or all of the following .
Outcomes of risk reassessments, risk audits, and periodic risk reviews.
Identification of new risk events, updates to probability, impact, priority, response plans, ownership, and other elements of the risk register.
Outcomes of the project’s risks and of the risk responses.
Expected monetary value (EMV) analysis has all of the following
“It is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.
The EMV of opportunities will generally be expressed as positive values, while those of risks will be negative.
EMV is calculated by multiplying the value of each possible outcome by its probability of occurrence and adding the products together.
All of the following are inputs to the Plan Procurements process
1 Scope Baseline
.2 Requirements Documentation
.3 Teaming Agreements
.4 Risk Register
.5 Risk-Related Contract Decisions
.6 Activity Resource Requirements
.7 Project Schedule
.8 Activity Cost Estimates
.9 Cost Performance Baseline
.10 Enterprise Environmental Factors
.11 Organizational Process Assets
Generally, a bid differs from a proposal in that the term:
Bid is used when the seller selection decision will be based on price.
The buyer structures procurement documents to accomplish all of the
” Facilitate an accurate and complete response from each prospective seller.
Include a description of the desired form of the response.
Include the relevant procurement statement of work (SOW) and any required contractual provisions.
Approved change requests (Contract) can generally include all of the following
Modifications to the terms and conditions of the contract.
Modification to pricing.
Modification to the description of the products, services, or results to be provided.
Advertising
Existing lists of potential sellers can often be expanded by placing advertisements in general circulation publications such as selected newspapers or in specialty trade publications. Some government jurisdictions require public advertising of certain types of procurement items, and most government jurisdictions require public advertising of pending government contracts.
Payment Systems
Payments to the seller are typically processed by the accounts payable system of the buyer after certification of satisfactory work by an authorized person on the project team. All payments should be made and documented in strict accordance with the terms of the contract.
The buyer, usually through its authorized procurement administrator, provides the seller with _______________ as an output of the Close Procurements process.
Formal written notice that the deliverables have been accepted or rejected.
In which type of contract must buyers precisely specify the product or services being procured?
Fixed-price contract.
Which of the following is one of the terms used to describe contested changes and potential constructive changes where the buyer and seller cannot reach an agreement on compensation for the change, or cannot agree that a change has occurred?
Claims.
Constructive changes are:
Requested but unresolved changes can include direction provided by the buyer, or actions taken by the seller, that the other party considers a constructive change to the contract. Since any of these constructive changes may be disputed by one party and can lead to a claim against the other party, such changes are uniquely identified and documented by project correspondence.
The procurement audit has all of the following characteristics
It is a structured review of the procurement process.
It is a review of the procurement process originating from the Plan Procurements process through the Administer Procurements process.
Its objective is to identify successes and failures that warrant recognition.
Different types of contracts may be in the best interests of the project. Contracts generally fall into one of the following broad categories
Fixed-price contracts.
Cost-reimbursable contracts.
Time and material contracts (T&M).
All of the following are true about the statement of work (SOW) for a procurement
It describes the procurement item in sufficient detail to allow prospective sellers to determine if they are capable of providing the products, services, or results.
It can include specifications, quantity desired, quality levels, performance data, period of performance, work location, and other requirements.
It can be revised and refined as required as it moves through the procurement process until incorporated into a signed contract award.
Outputs from the Close Procurements process generally include all of the following
Closed procurements.
Formal written notice that the deliverables have been accepted or rejected.
Lessons learned documentation.
Source selection criteria are developed and used to rate or score seller proposals. These criteria have generally all of the following characteristics
They are often included as a part of the procurement solicitation documents.
They can be objective or subjective.
They can be limited to the purchase price if the procurement item is readily available from a number of acceptable sellers.
Cost-plus-fixed-fee contracts (CPFF) have all of the following characteristics
Seller is reimbursed for all allowable costs for performing the contract work.
Seller receives a fixed fee payment calculated as a percentage of the initial estimated project costs.
The fixed fee does not change due to seller performance unless the project scope changes.
Acceptance Criteria:
Must be met before project deliverables are accepted.
The baseline is the approved:
Plan for a project, plus or minus approved changes.
A code of accounts:
Is any numbering system used to uniquely identify each component of the work breakdown structure.
A stakeholder is a(n):
Person or organization that is actively involved in the project, or whose interests may be positively or negatively affected by execution or completion of the project.
The project scope statement:
Provides a documented basis for making future project decisions and for confirming or developing a common understanding of project scope among the stakeholders.
In what way does free float differ from total float?
Free float is the amount of time that a schedule activity can be delayed without delaying the early start date of any immediately following schedule activities, whereas total float is the total amount of time that a schedule activity may be delayed from its early start date without delaying the project finish date, or violating a schedule constraint.
The approved project baseline should be changed:
When a change request is generated and approved through the Perform Integrated Change Control process.
Workaround is:
A response to a negative risk that has occurred. Distinguished from contingency plan in that a workaround is not planned in advance of the occurrence of the risk event.
All of the following are generally true about leadership in a project environment
It involves focusing the efforts of a group of people toward a common goal and enabling them to work as a team.
It is the ability to get things done through others.
Respect and trust, rather than fear and submission, are the key elements of effective leadership.
Team building has all of the following characteristics
It is the process of helping a group of individuals, bound by a common sense of purpose, to work interdependently with each other, the leader, external stakeholders, and the organization.
It can be enhanced by obtaining top management support, encouraging team member commitment, introducing appropriate rewards, recognition, and ethics.
It can be enhanced by creating a team identity, managing conflicts effectively, promoting trust and open communication among team members, and providing leadership.
Motivating involves creating an environment to meet project objectives while offering maximum self-satisfaction related to what people value most. These values generally include all of the following
A sense of accomplishment, achievement, and growth.
Sufficient financial compensation.
Opportunity to apply one’s professional skills to meet new challenges at work.
Project managers spend the majority of their time communicating with team members and other project stakeholders. To communicate effectively, the project manager should generally do all of the following
Develop an awareness of the communication styles of other parties involved in the project.
Develop an awareness of cultural issues, relationships, and personalities of project stakeholders.
Understand what information to provide, what information to receive, and which interpersonal skills will help communicate effectively with various project stakeholders.
Cultural differences:
Can impact the speed of working, the decision-making process, and the impulse to act without appropriate planning.

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