Keeping the Business in Mind

Question 1

A collection of procedures used to track project artifacts and monitor and control changes to these artifacts and deliverables.

Answer 1

Configuration Management System

Question 2

__________ levels enable the PM to manage certain issues without needing to escalate every issue.

Answer 2

Tolerance

Question 3

The present value of all cash outflows minus the present value of all cash inflows.

Answer 3

NPV

Question 4

What is a form of continuous improvement that incorporates many small changes that are less likely to require major expeditures of capital? Ideas usually come from workers.

Answer 4

Kaizen

Question 5

Create __________ and __________ plans to ensure project deliverables meet compliance requirements.

Answer 5

Testing / Validation

Question 6

The __________ defines the initial capabilities that make up the MBI.

Answer 6

Product Owner

Question 7

__________ is the process of examining each of the components of business value and understanding the cost of each one.

Answer 7

Value Analysis

Question 8

This type of benefit cost analysis is used in marketing and is a method for determining user preferences.

Answer 8

AB Testing

Question 9

Conditions, not under the immediate control of the team, that can influence, constrain, or direct the project, program, or portfolio.

Answer 9

EEFs

Question 10

A systematic approach to estimating the strengths and weaknesses of alternatives used to determine options which provide the best approach to achieving benefits while preserving savings.

Answer 10

Benefit Cost Analysis

Question 11

What determines the priority of changes to the product backlog?

Answer 11

Business Value

Question 12

As changes occur in the project, __________ should be updated to reflect any new requirements.

Answer 12

Baselines

Question 13

A financial metric of profitability that measures the gain or loss from an investment relative to the amount of money invested.

Answer 13

ROI

Question 14

A __________ is a type of histogram that is organized by frequency of occurence. Shows defects by type of identifiable cause.

Answer 14

Pareto Diagram / Chart

*80/20 Chart*

Question 15

Plans, processes, policies, procedures, and knowledge bases that are specific to and used by the performing organization.

Answer 15

OPAs

Question 16

What (3) things should a variance analysis detail?

Answer 16

• The variance identified
• Plan for bringing the item back into compliance.
• Proposed changes to meet compliance requirements.

Question 17

An analysis technique where a computer model is iterated many times, with the input values chosen at random for each iteration driven by the input data, including probablity distributions and probabilistic branches.

Answer 17

Monte Carlo Simulation

Question 18

__________ is the PM’s authority relative to the functional manager’s authority over the project and the project team.

Answer 18

Relative Authority

Question 19

The interst rate that makes the NPV of all cash flow equal to zero.

Answer 19

IRR

Question 20

The project team should be given __________ to consider the change and identify potential solution options.

Answer 20

Discretion

Question 21

A __________ is a tool that shows the number of defects per deliverable.

Answer 21

Histogram

Question 22

An __________ is used to verify compliance with organizational policies, processes, and procedures.

Answer 22

Audit

Question 23

Measures a customer’s willingness to recommend a provider’s products or services to another on a scale of -100 to 100.

Answer 23

NPS

Question 24

__________ provide high-level visibility to the overall project tasks, deliverables, and milestones. It should reflect changes made to the backlog.

Answer 24

Swimlane Roadmaps

Question 25

The Product Owner helps the project team prioritize work based on the __________ that the capability will provide to the business.

Answer 25

Value

Question 26

A diagramming and calculation technique for evaluating the implications of a chain of multiple options in the presence of uncertainty.

Answer 26

Decision Tree Analysis

Question 27

__________ enable the PM to define the knowledge transfer, training, and readiness activities required to implement the change.

Answer 27

Roll Out Plans

Question 28

Depending on the scope of changes and established tolerance thresholds, either the __________ or __________ can then approve the change.

Answer 28

PM / Project Sponsor

Question 29

What question does the business case answer?

Answer 29

Will the project be worth it?

Question 30

Who is responsible for creating the Benefits Management Plan?

Answer 30

Project Sponsor

Question 31

An analytical technique that models the combined effect of uncertainties to evaluate their potential impact on objectives.

Answer 31

Simulation

Question 32

The overall governance or steering committee that coordinates the project might be called the __________.

Answer 32

Project Board

Question 33

When a change is proposed, the Product Owners focus should be on the intended __________ of the change.

Answer 33

Business Value

Question 34

The current value of a future sum of money or stream of cash flows given in a specific rate of return.

Answer 34

Present Value

Question 35

What question does the needs assessment answer?

Answer 35

Why are we doing the project?

Question 36

Perform a __________ check of complaince before the end of the project.

Answer 36

Summary