Chapter 1

Question 1

What is the first question you must ask as a project manager?

Answer 1

What problem are you solving?

Question 2

Second question?

Answer 2

How are you going to solve this problem?

Question 3

Third question?

Answer 3

What is your plan?

Question 4

Fourth question?

Answer 4

How will you know when you’re done? Measurable criteria?

Question 5

Fifth question?

Answer 5

How well did the project go? What went well? What didn’t, and why?

Question 6

What is a project?

Answer 6

Temporary endeavor with definite beginning and end dates with a specific goal - resulting in a unique product, service or result. It has a beginning and an end, and usually a budget (not just money, but resources and time)

Question 7

When is a project considered a success?

Answer 7

When goals set up to accomplish are fulfilled and stakeholders are satisfied with the results.

Question 8

What are the four criteria for a project?

Answer 8

1. Unique - specific business objective
2. Temporary (several weeks to several years, but definite start and end date.)
3. Resources and quality
4. Stakeholder satisfaction.

Question 9

Define criteria 1 - Unique

Answer 9

A project is typically undertaken to meet a specific business objective. It involves doing something new, which means that the end result should be a unique product or service. These products may be marketed to others, may be used internally, may provide support for ongoing operations, and so on.

Question 10

Define criteria 2 - Temporary

Answer 10

Projects have definite start and end dates. The time it takes to complete the work of the project can vary in overall length from a few weeks to several years, but there is always a start date and an end date

Question 11

Define criteria 3 - Resources & Quality

Answer 11

According to CompTIA, the characteristics of a project include assigning resources to complete the work of the project and assuring the results of the project meet the quality standards outlined in the project plan. We’ll talk about quality standards in more depth in Chapter 6, “Defining the Cost, Risk, and Quality Plans.”

Question 12

Define criteria 4 - Stakeholder Satisfaction

Answer 12

A project starts once it’s been identified, the objectives have been outlined in the project charter, and appropriate stakeholders have approved the project plan. A project ends when those goals have been met to the satisfaction of the stakeholders.

Question 13

What are Operations (Vs. Projects)

Answer 13

Ongoing and repetitive. They don’t have a beginning date or an ending date, unless you’re starting a new operation or retiring an old one. Operations typically involve ongoing functions that support the production of goods or services. Projects, on the other hand, come about to meet a specific, unique result and then conclude.

It’s important to understand that projects and operations go hand in hand in many cases. For example, perhaps you’ve been assigned to research and implement state-of-the art equipment for a shoe manufacturing plant. Once the implementation of the equipment is complete, the project is concluded. A handoff to the operations team occurs, and the everyday tasks the equipment performs become an ongoing operation.

Question 14

What is a program?

Answer 14

A program is a group of related projects that are managed together using coordinated processes and techniques. The collective management of a group of projects can bring about benefits that wouldn’t be achievable if the projects were managed separately.

Question 15

What is a PMO and what is it’s function?

Answer 15

Project Management Offices (PMOs) manage projects and programs. PMOs are responsible for maintaining standards, processes, and procedures related to the management of projects. They are responsible for identifying the various projects across the organization and including them within a program, where appropriate, to capitalize on the collective benefits of all the projects within the program.

Question 16

What is Project management?

Answer 16

Brings together a set of tools and techniques—performed by people—to describe, organize, and monitor the work of project activities

Question 17

What is a Project manager?

Answer 17

the people responsible for applying these tools to the various project activities. Their primary purpose is to integrate all the components of the project and bring it to a successful conclusion. Managing a project involves many skills, including dealing with competing needs for your resources, obtaining adequate budget dollars, identifying risks, managing to the project requirements, interacting with stakeholders, staying on schedule, and ensuring a quality product.

Question 18

What is PMBOK?

Answer 18

Project Management Body of Knowledge, published by PMI.

Question 19

Org Structure: What is Functional Organization?

Answer 19

The classic organizational structure is the functional organization. In this structure, the staff is organized along departmental lines, such as IT, marketing, sales, network, public relations, customer support, and legal. Each department is managed independently with a limited span of control. This organizational type is hierarchical in nature, with each staff member reporting to one supervisor, who in turn reports to one supervisor, and so on up the chain.

Question 20

What are challenges about the Functional Organization?

Answer 20

A functional organization often goes about the work of the project in a siloed fashion. That is, the project deliverables are worked on independently in different departments. This can cause frustration among project managers, because they are the ones held accountable for the results of the project, but they have no means of holding team members from other departments accountable for completing project deliverables.

Question 21

What should a Project Manager do in a Functional Organization?

Answer 21

project manager in a functional organization should develop strong working relationships with the functional managers. Functional managers are responsible for assigning work to the employees who report to them. They are also responsible for rating the performance of the employees and determining their raises or bonuses. This, as you can imagine, sets up a strong loyalty between the employee and the functional manager as opposed to the employee and the project manager. However, that doesn’t mean project managers can’t be successful in this type of organization. Building a relationship with the functional managers and maintaining open communications is the key to successful projects in this type of structure. It also helps a great deal if you can contribute to the employee’s performance ratings by rating their work on the project.

Project managers have little formal authority in this type of structure, but it doesn’t mean their projects are predestined for failure. Communication skills, negotiation skills, and strong interpersonal skills will help assure your success in working within this type of environment.

Question 22

What are advantages of a Functional Organization?

Answer 22

The functional organization is the most common organizational structure and has endured for centuries. The advantages of a functional organization include the following:
Growth potential and a career path for employees
The opportunity for those with unique skills to flourish
A clear chain of command (each staff member has one supervisor)

Question 23

What are disadvantages of a Functional Organization?

Answer 23

The typical disadvantages of a functional organization include the following: the project managers have limited authority, multiple projects compete for the same limited resources, resources are generally committed part-time to projects rather than full-time, issue resolution must follow the department chain of command, and project team members are loyal to the functional manager.

Question 24

What is a Matrix Organization?

Answer 24

Matrix organizations typically are organized along departmental lines, like a functional organization, but resources assigned to a project are accountable to the project manager for all work associated with the project. The project manager is often a peer of the functional staff managers. The team members working on the project often have two or more supervisors—their functional manager and the project manager(s) they are reporting to.

Question 25

What must Project Managers do in a Matrix Organization?

Answer 25

Project managers working in a matrix organization need to be very clear with both the project team members and their respective functional managers about assignments and results regarding the following: *Those outcomes for which the team member is accountable to the project manager *Those outcomes for which the team member is accountable to the functional manager The team member should be accountable to only one person for any given outcome so as to avoid confusion and conflicting direction.

Question 26

In a Matrix Organization, what is a constraint related to time committment?

Answer 26

Availability of resources. If you have a resource assigned 50 percent of the time to your project, it's critical that the functional manager, or other project managers working with this resource, is aware of the time commitment this resource has allocated to your project. If time-constraint issues like this are not addressed, project managers may well discover they have fewer human resources for the project than first anticipated.

Question 27

What are typical characteristics of Matrix Organizations?

Answer 27

* Low to moderate authority for the project manager * A mix of full-time and part-time project resources * Better interdepartmental communication

Question 28

What are the three types of Matrix Organizations?

Answer 28

* Strong matrix: The strong matrix organization emphasizes project work over functional duties. The project manager has the majority of power in this type of organization. * Weak matrix: The weak matrix organization emphasizes functional work over project work and operates more like a functional hierarchy. The functional mangers have the majority of power in this type of organization. * Balanced matrix: A balanced matrix organization shares equal emphasis between projects and functional work. Both the project manager and the functional manager share power in this type of structure.

Question 29

What is a Project-Based Organization?

Answer 29

This organizational structure is far less common than the other two we've discussed. In this environment, the focus of the organization is projects, rather than functional work units. Project managers almost always have the majority of power in this type of structure. They are responsible for making decisions regarding the project and for acquiring and assigning resources from inside or outside the organization. Support staff, such as human resources, caadministrative support, accounting, and so on, often report to the project manager in a project-based environment.

Question 30

What are advantages of a Project-Based Organization?

Answer 30

One of the advantages of this type of organization is that team members are co-located, meaning they work together at the same physical location. Other advantages of this structure include the following: the project manager has a high authority level, full-time resources are assigned to the project, loyalty is established with the project manager rather than a functional manager, and you have a dedicated project support staff.

Question 31

What are disadvantages of a Project-Based Organization?

Answer 31

One of the biggest drawbacks of a project-based organization is reassigning project team members once the project ends. There may not always be a new project waiting for these resources.

Question 32

What does Validating the Project consist of?

Answer 32

Validating the project involves two steps: preparing the business case and identifying and analyzing the project stakeholders.

Question 33

How do project come about?

Answer 33

``` Market demand Strategic opportunity/business need Customer Request Technological Advance Legal Requirement Ecological Impact Social Need ```

Question 34

Describe validating the Business Case?

Answer 34

1. Feasibility study: A feasibility study is a formal endeavor that is undertaken to determine whether there is a compelling reason to perform the proposed project. Feasibility studies can examine the viability of the product, service, or result of the project. They may also examine technical issues related to the project and determine whether it's feasible, reliable, and easily assimilated into the organization's existing infrastructure 2. Justification: Justification describes the benefits to the organization for undertaking the project. These benefits can include tangible and intangible benefits and should include the reasons for bringing about the project. Justification can be a section within the business case or an independent document 3. Alignment to the strategic plan: Alignment to the strategic plan can also be included within the business case, and it should describe how the project and its outcomes will align to the organization's overall strategic plan. If the reason for the project doesn't support the strategic plan, there's really no reason to undertake the project.

Question 35

Describe Identifying and Analyzing Stakeholders?

Answer 35

Stakeholders are anyone who has a vested interest in the project. Stakeholders can include individuals as well as organizations, and both the project sponsor and the project manager are considered stakeholders. The project sponsor is the executive in the organization who authorizes the project to begin and is someone who has the ability to assign funds and resources to the project. Identifying stakeholders is also a component of the project charter.

Question 36

Describe Project Selection Methods?

Answer 36

A project selection committee uses a set of criteria to evaluate and select proposed projects. The selection method needs to be applied consistently across all projects to ensure the company is making the best decision in terms of strategic fit as well as the best use of limited resources.

Question 37

Describe Decision Models?

Answer 37

A decision model is a formal method of project selection that helps managers make decisions regarding the use of limited budgets and human resources. Requests for projects can span a large spectrum of needs, and it can be difficult to determine a priority without a means of comparison.

Question 38

What are the two types of Decision Models used?

Answer 38

Benefit Measurement Method | Constrained-Optimization Model

Question 39

What are 4 common Cost-Benefit measurement methods used?

Answer 39

1. Cost-Benefit Analysis 2. Scoring Model 2. Payback Period 3. Economic Model

Question 40

Describe Cost-Benefit Analysis?

Answer 40

Compares the cost to produce the product or service to the financial gain (or benefit) the organization stands to make as a result of executing the project. You should include development costs of the product or service, marketing costs, technology costs, and ongoing support, if applicable, when calculating total costs.

Question 41

Describe Scoring Model?

Answer 41

A scoring model has a predefined list of criteria against which each project is rated. Each criterion is given both a scoring range and a weighting factor. The weighting factor accounts for the difference in importance of the various criteria. Scoring models can include financial data, as well as items such as market value, organizational expertise to complete the project, innovation, and fit with corporate culture. Scoring models have a combination of objective and subjective criteria. The final score for an individual project request is obtained by calculating the rating and weighting factor of each criteria.

Question 42

Describe Payback Period?

Answer 42

The payback period is a cash flow technique that identifies the length of time it takes for the organization to recover all the costs of producing the project. It compares the initial investment to the expected cash inflows over the life of the project and determines how many time periods elapse before the project pays for itself.

Question 43

Describe Economic Model?

Answer 43

A series of financial calculations, also known as cash flow techniques, which provide data on the overall financials of the project.

Question 44

Define a project

Answer 44

A project is any short-term endeavor that provides a single product or service. There are definite start and end dates to a project.

Question 45

What is a Strong Matrix?

Answer 45

The project manager works in a division whose sole responsibility is project management. Once team members are assigned to the project, the project manager has the authority to hold them accountable for their tasks and activities.

Question 46

What is a functional structure?

Answer 46

The staff is organized along departmental lines such as IT, marketing, sales, network, public relations, customer support, and legal. Each department is managed independently, with a limited span of control.

Question 47

What is a weak matrix organization?

Answer 47

emphasizes functional work over project work and operates more like a functional hierarchy. The functional managers have most of the power in this type of organization. Project managers has no authority over team members and are more like project facilitators.

Question 48

What is project-based organization?

Answer 48

Focus is on projects rather than functional work units. Project managers always have most of the power in this type of structure.

Question 49

What is the primary benefit of identifying a project's stakeholders?

Answer 49

The prime benefit of identifying a project's stakeholders is that the project will have increased support. In turn, doing so allows the project manager to identify an appropriate focus for each stakeholder, as stakeholder interests, involvement, interdependencies, and influences have potential impact on project success.

Question 50

Which two steps are used in validating a project?

Answer 50

1. Validate the business case. | 2. Identify and analyze stakeholders.

Question 51

Which of the following are the three types of project selection methods that are considered economic model methods?

Answer 51

1. Discounted cash flow 2. Net present value 3. Internal rate of return

Question 52

What is the core function and primary responsibility of project managers?

Answer 52

Integrating the project work and assuring the satisfaction of stakeholders

Question 53

The Project Communications Management knowledge area focuses on which of the following processes?

Answer 53

Report performance Distribute information Identify stakeholders Project Communications Management is one of the nine Knowledge Areas. It employs the processes required to ensure timely and appropriate generation, collection, distribution, storage, retrieval, and ultimate disposition of project information. The following processes are part of Project Communications Management: Identify Stakeholders Plan Communications Distribute Information Manage Stakeholder Expectations Report Performance The Project Communications Management processes provide the critical links among people and information that are necessary for successful communication. These processes interact with each other and with the processes in the other Knowledge Areas as well.

Question 54

For an average project, project managers spend most of their time performing which of the following activities?

Answer 54

Planning the project. For an average project, project managers spend the majority of their time on well-developed project planning activities, such as creating the project scope statement, WBS, schedule, budget, and project plan.

Question 55

Which of the following processes comprise an Initiating Process Group?

Answer 55

Develop Project Charter Identify Stakeholders The Initiating Process Group consists of the Develop Project Charter and Identify Stakeholders processes. These processes define a new project or new phase of an existing project by obtaining authorization to start the project or phase.

Question 56

Q: The task of identifying stakeholders shows up in two areas of the Initiating Process group. Which areas are they?

Answer 56

1. In the project charter | 2. As a step in validating a project

Question 57

You've developed a project plan and a scope document. The project plan has been approved, and you're moving forward with project implementation. What process have you begun?

Answer 57

Executing. You're now in the executing process of the project, which means that your project is underway and team members are working on project deliverables.

Question 58

All of the following are process groups in the project management life cycle except for which one? A Initiating B Monitoring and controlling C Closing D Quality management

Answer 58

Quality management isn't a project management process group, but rather a project management knowledge area. The five process groups are initiating, planning, executing, monitoring and controlling, and closing. Answer options A, B, and C are incorrect because initiating, monitoring and controlling, and closing are project management process groups.

Question 59

Which are the five project management process groups?

Answer 59

``` Initiating planning executing monitoring/controlling closing ```

Question 60

Whose responsibility is it to investigate a customer's request, understand it, and document its requirements in the form of a project concept document or high-level requirements document?

Answer 60

Project Manager

Question 61

Who is responsible for authorizing the project charter?

Answer 61

An executive with the power to authorize the project. This sign-off provides the project manager with the authority to move forward, and it serves as the official notification of the start of the project. This approval is usually required prior to the release of purchase orders or the commitments made by the functional managers to provide resources to support the project.

Question 62

What are GOALS/OBJECTIVES?

Answer 62

Goals and objectives are specific and measurable.

Question 63

Which calendar is used to define the working and nonworking days and times for tasks?

Answer 63

Project calendar. A project calendar shows the list of working and nonworking days (either holidays or planned time off when no work will be done). Nonworking days are considered idle time.

Question 64

What is Scope Creep?

Answer 64

Scope creep (also called focus creep, requirement creep, feature creep, and sometimes "kitchen sink syndrome") refers to uncontrolled changes in a project's scope, including those that circumvent the change control process and thus aren't tracked. Such changes take away from valid project time and costs. Scope creep can occur when project scope isn't properly defined, documented, or controlled. It s generally considered a negative occurrence to be avoided.

Question 65

What is a Scope management plan?

Answer 65

A scope management plan describes procedures for preparing a scope statement and WBS, a definition of how deliverables will be verified, and a description of the process for controlling changes.

Question 66

What is a Project Charter?

Answer 66

A project charter provides formal approval for the project to begin and authorizes the project manager to assign resources to it.

Question 67

What is a project scope statement?

Answer 67

documents project objectives, deliverables, and work required to produce deliverables.

Question 68

What is an RFP (request for proposal)?

Answer 68

a procurement document advertised to a vendor community requesting vendors to provide a written proposal outlining how they will meet project requirements and how much it will cost to do so.

Question 69

What is a contraint?

Answer 69

Constraint restricts the actions of a project team and may take the form of a budget, resources, schedules, or other limitations.

Question 70

What is a milestone?

Answer 70

A milestone marks or indicates the completion of key project deliverables.

Question 71

What is an assumption?

Answer 71

An assumption is an event, action, concept, or idea one believes to be true.

Question 72

What is risk?

Answer 72

Risk is a potential future event that possesses either opportunities or threats to the project.

Question 73

What is a Project Scope Statement?

Answer 73

The project scope statement provides a product description; acceptance criteria; key deliverables; as well as project boundaries, assumptions, and constraints. It also contains details of technical issues and other concerns that can affect quality planning, and that should have been identified as a result of planning processes in project scope management. It does NOT list who team members will be.

Question 74

Who is responsible for defining Key Performance Indicators (KPI)?

Answer 74

The Process Owner. A process owner is responsible for defining key performance indicators (KPIs), and executes the crucial role of process champion, design lead, supporter, instructor, and protector. The process owner should be a senior-level manager with credibility, influence, and authority across various areas impacted by process activities, and must have the ability to influence and ensure compliance to policies and procedures put in place across cultural and departmental silos of an IT organization.

Question 75

What is a Service Level Manager responsible for?

Answer 75

A service level manager is responsible for negotiating service-level agreements and ensuring that these are met. He makes sure that all IT service management processes, operational level agreements, and underpinning contracts are appropriate to agreed service-level targets. As the title denotes, the service-level manager also monitors and reports on service levels.

Question 76

What is a Service Owner?

Answer 76

The Service Owner is responsible for a specific service such as infrastructure, application, or professional service in an organization, despite the location of its underpinning technology components, processes, or professional capabilities . However, to ensure that a service is managed with a business focus, defining a single point of responsibility is absolutely necessary to give a level of attention and focus required for its delivery. Service ownership is as critical to service management as establishing ownership is to processes that cross multiple vertical silos or departments. Thus, the service owner is responsible for continuous improvement and management of change affecting these services. He's a prime stakeholder in all IT processes that enable or support them.

Question 77

What is a process manager?

Answer 77

A process manager is responsible for planning and coordinating all process management activities. She supports all parties involved in managing and improving processes, in particular process owners. The process manager also coordinates all changes to processes, thereby making sure that all processes cooperate in a seamless way.

Question 78

What is a Code of Accounts?

Answer 78

A code of accounts is a hierarchical numbering system that uniquely identifies each deliverable of a WBS and segments the WBS by numbered levels.

Question 79

What is a Chart of Accounts?

Answer 79

A chart of accounts is a financial tracking and assignment tool for common deliverables and activities an organization performs for its customers.

Question 80

During which of the following processes are project goals, objectives, and deliverables refined and broken down into manageable units of work?

Answer 80

The Planning Process. Project managers create time and cost estimates and determine resource requirements for each activity. Planning involves several other critical areas of project management, including communication, risk, human resources, quality, and procurement.

Question 81

What happens in the initiating process?

Answer 81

The initiating process includes all activities that lead up to final authorization to begin the project, starting with the original project request. This process can be formal or informal, depending on the organization.

Question 82

What happens in the executing process?

Answer 82

It's during the executing process that project work is performed. The project manager must coordinate all project team members as well as other assigned project resources.

Question 83

What happens during the monitoring and controlling process?

Answer 83

The monitoring and controlling process monitors project progress to identify any variances from the project plan

Question 84

What is the WBS?

Answer 84

These are deliverables. A work breakdown structure (WBS) is a visual decomposition of project scope. Project scope is further broken down into smaller, more manageable units, each of which can be broken down further to arrive at the "work package," the smallest item in the WBS.

Question 85

What is the formula for CV (Cost Variance)?

Answer 85

CV (Cost Variance) = Earned Value (EV) - Actual Cost (AC)

Question 86

What is the formula for SPI (Schedule Performance Index)?

Answer 86

EV divided by PV (Lesson Controlling the Project)

Question 87

Formula for LInes of Communication?

Answer 87

participants (# - 1) / 2 (Lesson Communicating the Plan)

Question 88

What does RACI mean?

Answer 88

Responsible, Accountable, Consult, Inform

Question 89

What are the 5 project management process groups?

Answer 89

1. Initiating 2. planning 3. executing 4. monitoring & controlling 5. closing