Chapter 4 - Project Scope Management

Front 1

TRUE/FALSE:

Project scope management includes the processes involved in defining and controlling what is only included in a project

Back 1

False

Front 2

TRUE/FALSE:

Initiation involves committing the organization to begin a project or continue to the next phase of a project.

Back 2

True.

Front 3

TRUE/FALSE:

SWOT analysis is used to aid in strategic planning.

Back 3

True.

Front 4

TRUE/FALSE:

Payback analysis is used to determine and rank project risks.

Back 4

False.

Front 5

TRUE/FALSE:

A weighted scoring model is a tool that provides a systematic process for selecting projects based on one criteria.

Back 5

False.

Front 6

TRUE/FALSE:

A work package is a deliverable or product at the highest level of the WBS.

Back 6

False.

Front 7

TRUE/FALSE:

A unit of work should appear at only one place in the WBS.

Back 7

True.

Front 8

TRUE/FALSE:

JAD uses highly organized and intensive workshops to bring together project stakeholders.

Back 8

True.

Front 9

TRUE/FALSE:

Scope creep is the tendency for project scope to keep getting bigger and bigger.

Back 9

True.

Front 10

The project charter does these (3) things.

Back 10

1. is proof of upper management's commitment to the project
2. specifies the overall objectives and time frame of the project
3. provides the authority for the project to proceed

Front 11

What are the (3) selection criteria for choosing a new project?

Back 11

1. Risk
2. Rate of return
3. In-house personnel available

Front 12

The project's scope should include (3).

Back 12

1. Project justification
2. Project deliverables
3. Project objectives

Front 13

Reasons for investing in Information Technology projects (3).

Back 13

1. Good internal rate of return
2. Supports explicit business objectives
3. Supports implicit business objectives

Front 14

Scope definition is necessary to (3).

Back 14

1. Improve the accuracy of cost, time, and resource estimates
2. Define a baseline for progress measurement and control
3. Facilitate clear responsibility assignments

Front 15

What are the 3 characteristics of a "work package"?

Back 15

1. It is a task at the lowest level of any branch of the WBS.
2. It consists of manageable units of work that can be planned, budgeted, scheduled, and controlled.
3. It usually contains no more than 80 work hours (effort) to complete

Front 16

Scope verification is _______________________.

Back 16

The formal acceptable of the project scope by stakeholders.

Front 17

Project _______________ management includes the processes involved in defining and controlling what is or is not included in a project.

Back 17

scope.

Front 18

A project ______________ is a key document for formally recognizing the existence and providing a broad overview of a project.

Back 18

charter.

Front 19

Scope __________________ involves formalizing acceptance of the project scope.

Back 19

verification.

Front 20

Scope ________________ involves subdividing the major project deliverables into smaller, more manageable components.

Back 20

definition.

Front 21

Scope _________________ involves developing documents to provide the basis for future decisions.

Back 21

planning.

Front 22

Only projects with a ___________________ net present value should be considered if financial value is a key criterion for project selection.

Back 22

positive.

Front 23

A discount rate is the ______________ acceptable rate of return on an investment.

Back 23

minimum.

Front 24

A weighted scoring model is a tool that provides a _________________ process for selecting projects based on many criteria.

Back 24

systematic.

Front 25

A WBS is often depicted as a task-oriented family tree of ______________.

Back 25

activities.

Front 26

A work package is a deliverable or product at the ___________ level of the WBS.

Back 26

lowest.

Front 27

What is the main reason why firms invest in information technology projects?

Back 27

to support explicit business objectives.

Front 28

If you have three independent projects with NPVs of $100, $400, and -$100, which project(s) would you recommend based solely on the NPV?

Back 28

Recommend the project with an NPV of $100 and the one with an NPV of $400. Both are profitable. If you must choose one project, recommend the project with the highest NPV - $400 in this example.

Front 29

What document formally recognizes the existence of a project?

Back 29

a project charter

Front 30

What is the main output of the scope definition process and is also an outcome-oriented analysis of the work involved in a project that defines the total scope of the project?

Back 30

a WBS.

Front 31

What is scope?

Back 31

Scope refers to all the work involved in creating the products of the project and the processes used to create them.

Front 32

What is project scope management?

Back 32

Project scope management includes the processes involved in defining and controlling what is or is not included in the project.

Front 33

What are the 5 processes of Project Management Control?

Back 33

1. Initiation
2. Scope planning
3. Scope definition
4. Scope verification
5. Scope change control

Front 34

What is scope planning?

Back 34

Developing documents to provide the basis for future project decisions.

Front 35

What is scope definition?

Back 35

Subdividing the major project deliverables into smaller, more manageable components.

Front 36

What is scope verification?

Back 36

Formalizing acceptance of the project scope.

Front 37

What are the three important criteria for projects?

Back 37

1. There is a need for the project.
2. There are funds available.
3. There's a strong will to make the project succeed.

Front 38

What are the three primary methods for determining the projected financial value of projects?

Back 38

1. Net present value (NPV) analysis
2. Return on investment (ROI)
3. Payback analysis

Front 39

What does NPV stand for?

Back 39

Net present value.

Front 40

What does ROI stand for?

Back 40

Return on investment.

Front 41

What is NPV analysis?

Back 41

Is a method of calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time.

Front 42

Is a high NPV good, or a low one?

Back 42

The higher the NPV, the better.

Front 43

What is return on investment (ROI)?

Back 43

ROI is income divided by investment.

Front 44

What is the formula to calculate ROI?

Back 44

ROI = (total discounted benefits - total discounted costs) / discounted costs

Front 45

What's better, a high or a low ROI?

Back 45

The higher the ROI, the better.

Front 46

What is a payback period?

Back 46

Is the amount of time it will take to recoup, in the form of net cash inflows, the net dollars invested in a project.

Front 47

What is a project charter?

Back 47

A project charter is a document that formally recognizes the existence of a project and provides direction on the project's objectives and management.

Front 48

What is a scope statement?

Back 48

A scope statement is a document used to develop and confirm common understanding of the project scope.

Front 49

What 4 things should a scope statement include?

Back 49

1. A project justification.
2. A brief description of the project's products
3. A summary of all project deliverables
4. A statement of what determines project success

Front 50

A good scope definition does (3) things.

Back 50

1. Helps improve the accuracy of time, cost, and resource estimates.
2. Defines a baseline for performance measurement and project control
3. Aids in communicating clear work responsibilities.

Front 51

What does WBS stand for?

Back 51

Work breakdown structure.

Front 52

What is a WBS?

Back 52

A WBS is an outcome-oriented analysis of the work involved in a project that defines the total scope of the project.

Front 53

What is the top-down approach to developing WBSs?

Back 53

Start with the largest items of the project and keep breaking them down.

Front 54

What is the bottoms-up approach to developing WBSs?

Back 54

Start with the detailed tasks and roll them up,