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MWAT Final > Final Exam 2017 > Flashcards

Final Exam 2017 Flashcards

1
Q

5 Major Processes

A
  1. Initiating: start the project
  2. Planning: organize and prepare
  3. Executing: do the project work
  4. Monitoring and Controlling: check the work, make adjustments
  5. Closing: wrap up the project once execution is complete
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2
Q

What is a project?

A

unique product/service with a defined start and end date (temporary) that has a purpose and meets end objectives.

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3
Q

Project Selection

A

Many ideas - must narrow down based on needs and demands, and use decision making criteria (ranking, lists, etc.) to decide which project to initate.

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4
Q

Needs and Demands

A

Mandatory: must be completed (government standards, etc)
Strategic: high level projects that are key for success but not compulsory (new product)
Operational: nice projects to do but not necessary

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5
Q

Mandatory

A

must be completed (government standards, etc)

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6
Q

Strategic

A

high level projects that are key for success but not compulsory (new product)

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7
Q

operational

A

nice projects to do but not necessary

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8
Q

Team Difficulties are often caused by: (1 work issue, 2 team issues)

A

Work Issues - productivity

Team Issues - Viability and Individual Learning

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9
Q

Distress vs. Eustress

A

Eustress - low, under-stimulated, bored

Distress - overstimulated, overwhelmed

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10
Q

Projects vs. Operations

A

Similarities: planned, executed, controlled, human involvement, resource constraints
Purpose: Attain objectives (P) Sustain the organization (O)
Outcome: unique deliverable (P), May not have deliverable (O)
Time: Definite start and finish (P) - Ongoing (O)
People: Dynamic teams to meet needs (P) Structured teams from org. (O)
Manager Authority: Minimal (P) - formal and direct (O)

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11
Q

Project Challenges

A

Unchartered territory, stakeholder management and expectations, communication. Balancing triple constraint: scope, quality, time and budget

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12
Q

What is in Project Charter

A

Overview, objectives, requirements, justification, resource/time/cost estimates, roles and responsibilities, sign off

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13
Q

Purpose of Project Charter

A

project authorization (for funds and resources), Manager authorization (triple constraint and authority), Provides official notice to organization (required resources)

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14
Q

Stakeholders

A

People invested in the project: customer, sponsor, management, users, investors. Manage using power/interest grid to prioritize

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15
Q

What is initiating

A

start the project - project charter and stakeholders

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16
Q

Wysoki’s Pain Curve

A

proper planning is painful at first but pays off later. Poor planning can take up to 18-36% longer.

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17
Q

Project Scope Statement - what is in it

A

Project overview
Goals and deliverables
Requirements
Exclusions - high level activities related to this project but not in scope
High level estimation (time and budget)
Roles and responsibilities
Assumptions (availability, resources, etc)
Constraints (lack of commitment, interruptions, poor communication, lack of resources, technology, unrealistic expectations)
Product acceptance criteria

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18
Q

Difference between scope statement and charter

A

Charter = the value of a project, Scope statement = what work will be done for the value.

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19
Q

Schedule Management

A

Indicate the order of things you need to do with time estimates - Critical Path Method

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20
Q

Work Breakdown Structure

A

Logical breakdown of the work required for the project
Shows dependencies, allows small chunks to be assigned, tracks progress and resources, helps mitigate risks
Approaches: top down, bottom up, noun, verb

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21
Q

Quality Management

A

Customer satisfaction, Stakeholders, Continuous improvement, Reviews, Quality Criteria

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22
Q

Triple Constraint

A

Affects quality - time, scope, cost

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23
Q

Cost of Quality

A

Cost of Conformance:
Appraisal Costs - examining the product to ensure requirements are met (testing and inspection)
Prevention Costs - keeping defects out of final product

Cost of Non-Conformance:
Internal Failure Costs - when things don’t go according to plan
External Failure Costs - customer tells you requirements have not been met

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24
Q

Cost of Conformance

A

Appraisal Costs - examining the product to ensure requirements are met (testing and inspection)
Prevention Costs - keeping defects out of final product

25
Q

Cost of Non-Conformance

A

Internal Failure Costs - when things don’t go according to plan
External Failure Costs - customer tells you requirements have not been met

26
Q

Appraisal Costs

A

examining the product to ensure requirements are met (testing and inspection)

27
Q

Prevention Costs

A

keeping defects out of final product

28
Q

Internal Failure Costs

A

when things don’t go according to plan

29
Q

External Failure Costs

A

customer tells you requirements have not been met

30
Q

Principles of Quality in Projects

A
  1. Identify targets - customer expectations
  2. Plan it - how to meet requirements
  3. Right-size it - use appropriate resources for risks and requirements
  4. Set expectations - match customer expectations with constraints
  5. Stay customer focused
  6. Trust but verify - test everything!
  7. It is up to project manager to consider this
31
Q

Types of Tasks

A

Fixed Work: Amount required work is constant but more resources change duration
Ex. Painting a house can be shortened with more people

Fixed Duration: duration is constant regardless of labour and resources
Ex. Paint takes same amount of time to dry

32
Q

Fixed Work

A

Amount required work is constant but more resources change duration
Ex. Painting a house can be shortened with more people

33
Q

Fixed Duration

A

duration is constant regardless of labour and resources

Ex. Paint takes same amount of time to dry

34
Q

Communication Management Challenge

A

sender has idea to be sent - media channels create noise - receiver gets message but it is construed (Intended messages - received perceived)

35
Q

Factors

A

Message: ambiguous, complex, level of detail, importance, confidential

Who: number of people to convey to, technology preferences, relationships

When: urgency and timing

Where: geographic location

How: There are many channels to communicate, each has appropriate use

36
Q

Media Richness

A 
high # of channels (audio, visual and body language),
High interactivity (can communicate at same time - delays, synchronicity)
37
Q

Rich communication

A

good at reading people, Socially aware? Good listener?

38
Q

Lean communication

A

too blunt, skip over detail, read or. listen, good writer

39
Q

Horines 7 Powerful Communication Principles

A
  1. Plan your communications
  2. Remember the basics - high priority to communicate with stakeholders, be courteous
  3. 5 C’s - concise, clear, courteous, consistent, compelling
  4. Take responsibility for understanding
  5. Build relationships (invest time)
  6. Be proactive (avoid surprises, reduce uncertainty)
  7. People and politics go together
40
Q

Types of risks

A

Known with predictable outcomes, Known with uncertain outcomes, Unknown

41
Q

Catagories of Risk

A

Technical Risks - ex. Technology, quality
External - ex. dependant on shipping, suppliers, market, weather
Organizational - resources, funding, priorities.
Project - estimating, planning, controlling, communication.

42
Q

Risk Planning Process

A

Identify, determine probability, assess impact, prioritize, develop responses, get buy in, monitor

43
Q

Threat Response (negative)

A

Accept - do nothing proactive but develop plan
Avoid - change the project plan to eliminate risk
Transfer - transfer risk by using contracts for warranty, penalties, etc.
Mitigate - introduce activities to reduce likelihood of negative event occurring

44
Q

Opportunity Response (positive)

A

Accept - do nothing
Exploit - eliminate uncertainty to take advantage of it
Share - transfer opportunity to leverage external expertise
Enhance - introduce activities to increase likelihood of positive response

45
Q

Horine’s Key Risk Management Principles

A
  1. Project Management is risk management
  2. Have a healthy paranoia (what could go wrong?)
  3. Appropriate risk management activities given size and important
  4. Systematic - follow structured risk process
  5. Continuous Process
  6. Relentless - commit to risk management for entire project life
  7. Focus on high priority risks that you can control
46
Q

What is involved Planning stage

A

Project Scope Statement, Critical Path Method, Work Breakdown Structure, Quality Cost Communication and Schedule Management

47
Q

What is involved in the Execution Stage

A

Manage stakeholder engagement
Direct and manage project work (micro-details, problems, reports, etc.)
Perform quality assurance
Conduct procurements (vendors, people, etc)
Acquire project team (weekly basis?)
Manage communications (within team and with stakeholders)
Manage project team
Develop project team (motivated, functional, manage their work weekly)

48
Q

Human resource management

A

Trust building, communication, decision making, fostering synergies, maintain accountability
Motivators
Intrinsic: person things that drive people to perform (growth and learning)
Extrinsic: material motivator (rewards, bonuses)

49
Q

Types of motivators

A

Intrinsic: person things that drive people to perform (growth and learning)
Extrinsic: material motivator (rewards, bonuses)

50
Q

What is involved in Monitoring and Controlling

A

Compare results against scope, time, costs, risks, procurement, stakeholder, communications, quality - identify variances (positive and negative) and Change Control

51
Q

Monitor

A

ensure that things are going as planned

52
Q

Controlling

A

when things do not go as planned, you adjust

53
Q

Assess process (principles of continuous improvement)

A

Act - implement the best solution
Plan - identify problems
Check - study results
Do - test potential solutions

54
Q

Change Control

A

Process for managing change
Help understand what causes change
Understand when or why change is needed
Manage the change by establishing common procedures to stay consistent
How will you handle change
Assess impact on schedule, budget, scope, quality

55
Q

How do you know when to close?

A

Before you close, you monitor and control to know WHEN to close it

56
Q

Horines Project Closing Steps

A
  1. Gain Client Acceptance - see project charter
  2. Transition deliverables to owner - find in project charter
  3. Close out contract obligations
  4. Capire lessons learned - get feedback from stakeholders
  5. Update organization’s central information repository
  6. Issue final financials, close accounts and charge codes
  7. Update resource schedules (to know in advance when people will be released)
  8. Conduct performance evaluations
  9. Celebrate - recognize contributions, facilitate closure
57
Q

2 tools for monitoring and controlling

A

Gannt Chart and Change Assessment (compare results against project charter and scope statement)

58
Q

Documenting lessons learned

A
  1. Process improvements
  2. Variance in planning to actual
  3. Communication glitches
  4. Effectiveness of corrective actions
  5. Risk identification and response
  6. Team dynamics
  7. Enable cross project learning - learn lessons from one project and carry them onto the next so you continuously improve and get better
59
Q

Carrying lessons

A

learn lessons from one project and carry them onto the next so you continuously improve and get better

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