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82 Cards in this Set
- Front
- Back
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A stakeholder wants a change; you estimate two additional weeks. What do you do now?
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See how the proposed change impacts the project cost, quality, risks, resources, and possible customer satisfaction. A change in one constraint should be evaluated against all other constraints
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Benefit Cost Ratio can be described as…?
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1. Greater than 1, means benefits are greater than the costs 2. Less than 1, means the costs are greater than the benefits 3. Equal to zero the benefits and costs are the same
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Change Control Board can be described as…?
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1. Part of Perform Integrated Change Control 2. It approves and rejects change requests and typically has automatic approval of defined categories and changes 3. Typically headed by the project sponsor 4. Roles and responsibilities should be clearly defined 5. For projects under contract, changes must be approved by the customer
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Change Control System contains what?
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1. Standardized forms 2. reports 3. processes 4. procedures and 5. software to track and control changes
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Change Management has important aspects to remember?
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1. Change is inevitable and should not be viewed in a negative light 2. Change is inevitable but un-managed change will kill your project 3. It is important to identify a change as soon as it occurs, so that it may be better managed 4. The project manager alone cannot do it; all team members must understand the project definition well enough to recognize and report changes they see.
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Change management plan includes what…?
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1. Procedures 2. Standards for Reports 3. Meetings 4.Change control procedures 5. authorization levels 6. creation of change control board 7.org tools to track changes
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Change request initiation has three types, what are they?
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1. Can be direct or indirect 2. Externally or internally initiated 3. Can be optional or legally/contractually mandated.
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Change Requests are issued and may modify what?
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1. Policies or procedures 2. project scope 3. Project cost or budget 4. Project schedule 5. Project Quality
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Change requests can include what four type of actions?
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1. Corrective action 2. Preventative action 3. Defect repair 4. Updates
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Change requests can require new or revised what?
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1. Cost estimates 2. Activity sequences 3. Schedule dates 4. Resource requirements 5. Analysis of risk response alternatives 6. require adjustments to the PM plan 7. Other project management plans/documents
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Change: Should the PM prevent change?
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Generally the PM should prevent the root cause of the need for changes. Often it was poor PM planning
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Change: What are the steps to make a change to a project or project scope?
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1. Evaluate the impact 2. Create options 3. Get the change request approved internally 4. Get customer buy-in
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Change: What do you need to effectively evaluate a change?
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Realistic Project Management Plan to measure against and a complete Product scope and project scope
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Close Project or Phase process can be described as…?
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1. finalizes all activities across all process groups to formally close the project or phase 2. The project manager will review the project management plan to ensure that all project work has been completed
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Close Project or Phase process is different when it comes to the cancelled or terminated project which can be described as...?
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Procedures are established to investigate and document the reasons for the termination of the project
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Lessons learned can be described as...?
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1. Should be collected throughout the project 2. Obtained from project participants who may already have left the project 3. Will be useful to the extent that an organization makes them readily available to other project teams 4. Many organizations use knowledge management systems for the purpose
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Closing activities include…?
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1. Confirm work was done to requirements 2. complete procurement closure 3. gain formal acceptance 4. complete final performance reporting 5. archive records 6. update lessons learned 7. hand-off completed product 8. release resources
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Configuration control and Change Control are different how?
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1. Configuration control is focused on the specification of both the deliverables and the processes 2. Change Control id focused on identifying, documenting, and controlling changes to the project and product baselines
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Configuration management activities included in the integrated change control process includes?
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1. Configuration identification 2. Configuration status accounting 3. Configuration Verification & Audit
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Configuration identification can be defined as…?
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Selection and identification of a configuration item provides the basis for which a product configuration is defined, products and documents labeled, changes are managed, and accountability is maintained
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Configuration Status Accounting can be defined as…?
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Information is recorded and reported as to when appropriate data about the configuration item should be provided. Includes listing of approved configuration identification, status of proposed changes to the configuration, and the implementation status of approved changes
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Configuration Verification & Audit Accounting can be defined as…?
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Configuration verification and confirmation audits ensure the composition of a project's items is correct and that corresponding changes are registered, assessed, approved, tracked, and correctly implemented
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Configuration Management Plan can be described as...?
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Defines how you will manage changes to the deliverables and the resulting documentation, including which org tools you will use
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Configuration Management System can be defined as?
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1. A Configuration Management System provides a standardized, effective, and efficient process to centrally manage changes within a project 2. Establishes an evolutionary method to consistently identify and request changes to established baselines, and to assess the value / effectiveness of those changes 3. Provides opportunities to continuously validate and improve the project by considering the impact of each change 4. Provides the mechanism for the project management team to consistently communicate all approved and rejected changes to SHs
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Constraints are documented where?
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The project scope statement
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Corrective action can be defined as?
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Documented direction for executing the project work to bring expected future performance of the project work in line with the project management plan.
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Cost Baseline contains what?
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The time-phased cost budget
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Cost Benefit Analysis is defined as…?
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Compares the expected costs of the project to the potential benefits
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Defect repair can be defined as?
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Defect repair is formally documented identification of a defect in a project component with a recommendation to either repair the defect or completely replace the component?
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Develop Project Charter can be defined as?
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1. Formally recognizes (authorizes) the existence of the project 2. Gives the PM authority to spend money & commit resources 3. Provides high-level requirements 4. It links the project to ongoing work of the organization
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Develop Project Charter inputs are…?
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1. Constraints and assumptions 2. Project Statement of Work (SOW) 3. Charters with Work Under Contract 4. Enterprise environmental factors 5. Org Process Assets
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Develop Project Charter is done during Process Group...
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Initiating
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Develop Project Management Plan
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1. Document actions necessary to define, integrate, and coordinate all subsidiary plans into a project management plan 2. Define how the project will be executed, monitored and controlled, and closed 3. The plan is progressively elaborated during the life of the project as additional information is discovered 4. Content varies depending on the application area and complexity of the project 5. Updated and revised through the Perform Integrated Change Control process.
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Develop Project Management Plan is done during Process Group...
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Planning
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Direct and Manage Project Execution is done during Process Group...
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Executing
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Direct and Manage Project Execution process has what activities?
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1. Perform activites to accomplish project requirements 2. Create deliverables 3. Staff, train, and manage team members 4. Manage other resources, such as materials, tools, equipment, and facilities 5. Implement planned methods and standards 6. Manage risk and risk response 8. Manage sellers & suppliers 9. collect lessons learned 10. generate project data
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Direct and Manage Project Execution process can be defined as?
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The process of performing work defined in the Project Management plan to achieve the projects objectives
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Earned Value Management can be defined as?
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One of the techniques used to both integrate the various processes and to measure performance of the project. This technique integrates project performance measurement for schedule and budget.
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Economic Models for Project Selection
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1. Present Value 2. net present value 3. internal rate of return 4. payback period 5. benefit-cost ratio
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Economic Value Added (EVA) is defined as…?
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Whether or not the project returns to the company more value than the initiative costs
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Integrated Change Control is done during Process Group...
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Monitoring and Controlling
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Integration can be described as?
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Balancing all the processes in the knowledge area
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Internal Rate of Return is defined as…?
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The rate at which the project inflows (revenue) and project outflows (costs) are equal
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Management Plans can be described as...?
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1. They are the strategy for managing the project and the processes in each knowledge area 2. How you will define, plan manage, and control the project 3. look forward in time
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Management plans can be found in which knowledge areas?
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All but Integration
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Monitoring and Control Project Work is concerned with?
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1. Comparing actual project performance against the project management plan 2. Assessing performance to determine if corrective or preventive actions are necessary 3. Analyzing, tracking, and monitoring project risks 4. Tracking, reviewing, and regulating the progress to meet the performance objectives defined in the PM Plan 5. Monitoring includes status reporting, progress measurement, and forecasting
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Monitoring and Control Process Group is defined as…
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Those processes required to track, review, and rgulate the progress and performance of the project; identify any areas in which changes to the plan are required; and initiate the corresponding changes
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Net Present Value is defined as…?
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The present value of the total benefits minus the costs over many time periods
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On the exam, what is the most commonly described benefit or use of the Project Charter?
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Gives the PM authority to spend money & commit resources. Since in most orgs the project team doesn't report to the PM, this leads to issues of how to gain cooperation and performance.
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Opportunity Costs is defined as…?
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The opportunity given up by selecting one project over another
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Payback Period is defined as…?
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The length of time it takes for the organization to recover its investment in the project
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Perform Integrated Change Control process can be described as?
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1. The process of reviewing all change requests, approving changes, and managing changes to the deliverables, OPA, project documents, and the project management plan 2. The Project Management Plan, Scope Statement, and other deliverables must be maintained by carefully and continuously managing changes 3. The objective is to ensure that only approved changes are incorporated into the project baselines 4. Performed from project inception through completion.
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Perform Integrated Change Control Process has three objectives. What are they?
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1. Establish an evolutionary method to consistently identify and request changes and assess value and effect of those changes 2. Provide opportunities to continuously validate and improve the project by considering the impact of each change 3. Provide the mechanism to project management team to consistently communicate all changes to all stakeholders
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Perform Integrated Change Control process contains what activities?
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1. Influencing the factors that circumvent integrated change control so that only approved changes are implemented 2. Reviewing, analyzing and approving change requests 3. Managing the approved changes 4. Maintaining the integrity of baselines 5. Reviewing, approving, or denying recommended corrective/preventative actions 6. Coordinating changes across the entire project 6. Documenting impact of change requests
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Performance Reports can be described as?
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1. Prepared by the project management team detailing activities, accomplishments, milestones, issues and problems 2. come from the Report Performance process, and are generally based primary on work performance information from the Direct and Manage Project Execution process.
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Present Value is defined as…?
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The value today of future cash flows
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Preventive action can be defined as?
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Preventive action is documented direction to perform an activity that can reduce the probability of negative consequences associated with project risks.
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Primary responsibility for making changes to the project charter?
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Sponsor
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Project Assumptions can be defined as?
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Project Assumptions are factors that for planning purposes are considered true, real or certain without proof of demonstration. Affects all aspects of project planning. Identified, documented, and validated as part of the planning process. Generally involve a degree of risk. Assumptions are documented in the project scope statement.
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Project Charter includes what?
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1. Project Title & Description 2. PM assigned and authority level 3. Business Case 4. Resources Assigned 5. Stakeholders 6. Stakeholder requirements as known 7. Product description/deliverables 8. Measurable project objectives 9. Project approval requirements 10. High-level project risks 11. Project Sponsor authorizing this project
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Project charter: How is the project charter handled in multi-phase projects?
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During subsequent phases of multi-phase projects, this process (Develop Project Charter) validates the decisions made during the original chartering of the project. If required, it also authorizes the next project phase, and updates the charter.
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Project Constraints can be defined as?
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1. An applicable restriction or limitation, either internal or external to the project, that will affect the performance of the project or process 2. Factors that will limit the project management team's options (e.g. schedule, contractual provisions, regulations, pre-set budget)
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Project Integration Management can be defined as?
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1. the processes and activities needed to identify, define, combine, unify, and coordinate activities within the Project Management Process Groups 2. Unify, consolidate, articulate, and integrate actions crucial to project completion, managing stakeholder expectations, and meeting requirements 3. Involves making tradeoffs among competing objectives and managing interdependencies between knowledge areas
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Project integration requires an emphasis on
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Effective communications
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What are the management plans and scope baselines included in the Project Management Plan?
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1. The management plans for Scope, Schedule, cost, quality, HR, Communications, Risk, and procurement 2. Scope, schedule, & Cost baselines 3. A Change Management Plan 4. A Configuration Management Plan 5. A Process Improvement plan
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Project Management Plan contains which scope baselines?
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1. Scope 2. Schedule 3. Cost
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Project Management Plan document can be defined as?
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The Project Management plan integrates and consolidates all subsidiary plans and baselines from the planning processes. It includes: 1. The life cycle selected for the project - How work will be executed 2. Processes selected by PM team 3. Level of implementation (rigor) 4. Description of tools and techniques to be used 5. How selected processes will be used
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Project Manager's role is primarily what?
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To perform integration management
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Project Statement of Work (SOW) can be defined as?
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1. A narrative description of products or services to be supplied by the project 2. Describes the business need 3. Describes the Product Scope 4. Describes the relationship between the project and the business need
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Project Statement of Work (SOW) is created by who?
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The customer/Sponsor; describes their needs, product scope, and how project fits with strategic needs
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Requirements Management Plan can be described as…?
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How requirements will be identified, managed and controlled
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Schedule Baseline contains what?
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1. The agreed upon schedule 2. start and stop times
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Scope Baseline contains what three things?
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1. Project Scope statement 2. WBS 3. WBS Dictionary
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Should sunk costs be considered when deciding to continue with a troubled project?
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No
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What are some of the differences between managing a large project compared with a small project?
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1. Larger stakeholder group 2. more diverse team 3. broader more complex communications 4. more formal change process 5. lager activities / tasks
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What are the actions that must be completed on both large and small projects?
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1. Identify stakeholders 2. Confirm high-level requirements, project scope, risks and issues 3. Define product scope 4. Define project objectives and success criteria 5. Documenting risks
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What do you do if a project deviates significantly from established baselines?
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Review the projects risk Management process; deviations from baselines are often due to an incomplete risk identification and risk Management
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What do you do when the project doesn't go as planned?
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1. gather information to adjust and react as the project progresses to meet the project objectives 2. accurate information is needed about what is happening in the project.
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When is a project manager identified and assigned?
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A project manager is identified and assigned as early in the project as feasible, and before planning begins.
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Why is it a bad idea to prevent changes in the project?
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Generally, changes happen during the life of the project for many reasons, most of which turn out to be valid and important. Foremost is the phenomenon of progressive elaboration. We learn as we go in a project, and this will result in discovery of the need to change the project management plan or the project scope the team should be supportive of these changes, but MUST control them so that they happen in an orderly way.
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Work Performance Information can be described as…?
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Information on the status of the project activities performed to accomplish the project work, collected as part of project execution. 1. Includes, but is not limited to: 1. Schedule progress and status info 2. Status of deliverables 3. Extent of quality compliance 4. Costs authorized and incurred 5. Estimates to complete started activities 6. Completion state of in-progress deliverables 7. reported percent of work completed
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Work Performance Information is done during what process…?
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Direct and manage reject execution processes
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