Project Management 3351 - Midterm Flashcards Preview

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Flashcards in Project Management 3351 - Midterm Deck (133):
1

project management is an application of skills that ensures a project is delivered: (3 things)

on time, on budget, to specs

2

What 4 areas define a project?

temporary, defined purpose, time frame, resources

3

What are the 3 constraints in "The Triple Constraint"

scope, schedule, budget

4

What are ITPM roles?

project stakeholders, project manager, project sponsor, technical experts, subject matter experts

5

What is the difference between a project portfolio and program?

portfolio - collection of project managed collectively to align with organization strategy
program - collection of projects within a portfolio whose activities are coordinated

6

Which of the following is considered a major attribute?

- deliverable
- lessons learned
- stage gate
- time frame
- baseline plan

time frame

7

which of the following variables an influence selection of IT projects?

-culture
-environment
-politics
-strategy
-all

all

8

the triple constraint suggest that stakeholders and sponsors must communicate effectively?

false

9

the triple constraint refers to:

scope, budget, schedule

10

having subject matter experts on the dev team is better than teaching technical experts the subject matter

true

11

assumptions are what help determine scope, schedule and budget when assessing project risk

true

12

what is a "challenged project"?

a project that was completed over budget, over schedules and did not meet all specifications

13

what is an "impaired project"?

a project that is cancelled before completion

14

according to the CHAOS study most IT project are completed on time but over budget?

false

15

what are the two main aspects of the socio-technical approach?

- business and organizational aspects must be addressed as well (not just technical)
- end users and stakeholders should be involved early to ensure a vested interested in the project

16

what is the premise behind the value-driven approach to it projects?

decision whether or not to invest in IT should be based on the value its completion adds to the organization

17

what defines the project management approach to IT projects

predefined processes, resource control, communication systems in place

18

what is the knowledge management approach?

lessons learned, best practices, shared knowlege

19

According to the CHAOS study how many projects were cancelled before completion? complete but challenged?

31%, 53%

20

what are the common phases of the project life cycle ?

define project goal, plan project, execute project plan, close project, evaluate project

21

what is the deliverable for the define project goal phase?

a business case

22

the project charter clarifies the projects goal and objectives in terms of what?

scope, schedule, budget, quality objectives

23

what is the deliverable for the project charter phase?

project charter & plan

24

what are the deliverable for the execute and control the project phase?

requirement doc, software testing doc, design doc, software system

25

what is the deliverable for the close project phase?

final report and presentation

26

what are the four areas of focus for the evaluate project success phase?

first) project manager - what went well with the team, what could have been done better
second) evaluation between pm and individual team members
third) outside party review of project, pm and project team
fourth) project evaluation in terms of value added

27

what are phase exits, stage gates and kill points?

phase-end reviews of key deliverables, with immediate actions resulting from them

28

what is fast tracking?

starting next phase before approval is obtained for current phase

29

what are the system development life cycle stages?

requirement elicitation, analysis, system design, object design, implementation, testing, delivery, maintenance

30

what is the SDLC?

software design life cycle

31

what phase does the SDLC fall into within the gerater project life cycle?

execute and control the project

32

how are project management processes and product-oriented processes connected?

project management processes support all activities involved in the product oriented process

33

what happens when only project management processes are focused on?

the projects scope is not well defined and a quality system is difficult to achieve due to lack of expertise

34

what happens when only the product oriented processes are focused on?

work isn't completed on time, budget isn't set, and specifications are forgotten or not met

35

what are the 5 PMBOK project management process groups?

initiating, planning, executing, controlling, closing

36

what are the 7 processes of PRINCE2?

start project, initiate project (more detail), direct project, control stage, manage project delivery, manage stage boundaries, close project

37

what are the 7 PRINCE2 themes to aid with project goal achievement?

business case, organization, risk, quality, planning, change, describe the progress

38

what are the 7 PRINCE2 Universal guiding principles?

business case driven, product focus, lessons learned, manage the stage, adapt to project, manage by exception, accountability

39

what are the four stages of learning cycles?

1. understand and frame problem
2. plan
3. act
4. reflect and learn

40

what 3 criteria are used to assess team learning?

speed, depth, breadth (impact)

41

IT project methodology provides a strategic level plan for managing and controlling IT projects?

True

42

a business case is a deliverable that outline a projects goal and several alternatives or options

true

43

project management processes include scope, schedule, budget and quality

false

44

the sdlc is a deliverable from the project charter

false

45

the project charter is a key deliverable for the second phase

true

46

scope and schedule are examples of

project management objectives

47

the correct sequence of the generic project life cycle is:

definition, planning, execution, closing, evaluation of the project

48

which of the following is not a characteristic of prototyping?

- iterative
- deployed when developing high volume transaction processing system
- deployed when requirements of new system are not well understood
- RAD approach

deployed when...

49

what does MOV stand for?

measurable organizational value

50

what 4 pillars support the MOV?

scope, schedule, budget, quality

51

what is the process for developing the MOV?

- identify area of impact
- identify desired value of the project
- develop appropriate metric
- set time frame
- verify a get agreement from project stakeholders
- summarize MOV

52

what are some questions to ask when identifying the desired value of the project?

better? faster? cheaper? do more?

53

the MOV should be adjusted at each phase of a project to align with execution

false

54

the MOV should explicitly name what tech the project will require

false

55

a projects scope is a list of resources available to the projects team

false

56

project management processes recommended by PMBOK include scope, schedule, budget, and quality

false

57

under PRINCE2 the project board is accountable for project's success or failure

true

58

what is the purpose of a business case?

to provide senior management with all information needed to make a decision regarding project funding

59

what are the 3 steps to considering risk?

identification, assessment, response

60

what is included in total cost of ownership?

direct costs (upfront)
ongoing costs
indirect costs

61

what are examples of benefits of ownership?

increasing high value work, improving accuracy and efficiency, improving decision making, improving customer service, etc

62

what is the focus of most financial models related to projects?

cash flow

63

what is the formula for payback

initial investment / net cash flow

64

what is the ROI formula

total expected profit / total expected costs

65

does a business case provide a project budget?

false

66

a business case provides a feasibility analysis

true

67

a business case is the key deliverable for which phase?

1

68

early identification of project team is a reason for recruiting a core team to develop the business case

false

69

enhanced credibility is a reason for recruiting a core team to develop the business case

true

70

alignment with organization goals is a reason for recruiting a core team to develop the business case

true

71

a shared sense of ownership is a reason for recruiting a core team to develop the business case

true

72

access to real costs is a reason for recruiting a core team to develop the business case

true

73

determining whether employees will be able to adapt to planned change is __________ feasibility

organizational

74

determining whether the proposed solution will work within the software architecture is a measure of _______ feasibility

technical

75

TCO includes only direct/upfront costs and ongoing expenditures

false

76

feasibility focuses on what can go wrong and what must go right

false

77

feasibility focuses on whether or not an alternative is worth pursuing

true

78

TBO should address the benefits of an alternative over its entire useful life

true

79

all cash flows over the useful life of a project must be included in payback analysis

false

80

payback analysis is often a failure due to what consideration that is failed to be taken into account/

the time value of money

81

npv takes into account all relevant cash flows and a companys irr

true

82

riskier project alternatives has lower breakeven points

false

83

breakeven is always expressed in currency

false

84

a scoring model uses weights and scores based on people judgements to evaluate qualitative items

true

85

each phase ought to have at least one deliverable at the end

true

86

a baseline plan defines what?

the scope, schedule and budget of a project

87

a project that increases market share impacts what area of an organization

strategic

88

a project that increases profit impacts what area of a business

financial

89

a system developed using the projet life cycle methodology is called a legacy system

false

90

a tangible and verifiable product of work is called a _____

deliverable

91

what are the differences between a project charter and a project plan?

a project charter acts as a sort of contract between the pm and the organization sponsoring the project - it outlines project infrastructure and resources, summarizes budget and schedule

a project plan is a tactical plan detailing how the project resources will be used in order to develop a budget and schedule

92

a project charter serves as a ________ between _______ and ________

contract, project manager, projet sponsor

93

a project charter documentes a projects _____, summarized the details of _________, show explicit ________ to the project

MOV, the project plan, committment

94

things that should be included in charter:

identification, stakeholders, description, mov, scope, schedule, budget, quality issues, resources, assumptions, risk, administration, acceptance, approval, references, terminology

95

a project charter and project plan make up the projects strategic plan

false

96

the project sponsor is responsible for creating the project charter

false

97

the project charter and project plan should be delopped side by side (at the same time

true

98

the project charter + project plan are a _____ plan?

tactical

99

things that must go right in order for the project plan to be completed are what?

assumptions

100

a kickoff meeting is held to develop the project plan

false

101

what is a baseline plan

an approved project plan

102

what are the benefits of a kick off meeting?

bring closure to planning phase, signal initiation of next phase, energizes stakeholders

103

why must the MOV be finalized during the project planning phase?

because any changes afterwards will require the plan to be fundamentally revised

104

define "scope"

product or services to be provided by the project - includes all project deliverables

determines what is part of the projects team work and what is not

105

what is the baseline plan used for primarily?

a benchmark for success

106

what are the steps in the scope management process?

initiation, planning, definition, verification, change control

107

what is project oriented scope?

deliverables that support the management and development of the project itself

108

what are product oriented scope?

deliverables that support the actual application system solution

109

what are the headers for a deliverable definition table?

deliverable, structure, standards, approval needed by, resources required

110

what can be developed once deliverables have been defined through a DDT?

a deliverable structure chart (DSC)

111

what does the deliverable structure chart define?

detailed work packages

112

what is a context dataflow diagram (DFD)

a modeling tool used to refine scope boundaries - high level representation of a system depicting all inflows and outflows of data and information between system and external entities

113

what are the items on the scope verification checklist

MOV, deliverables, quality standards, milestones, review and acceptance

114

what is scope grope?

scope poorly defined - can't get a handle of the scope of the product

115

what is scope creep?

adding to the scope without considering impact on resources

116

what is scope leap?

huge sudden changes in scope

117

a projects scope is a list of resources?

false

118

scope planning is an area of scope management, where authority and resources commit to developing the scope management plan

FALSE

119

scope change control protects the scope boundary form expanding

true

120

no new features can be addded once the scope has been officialy defined

false

121

scope statement documents clients needs and expectations

true

122

the scope includes both what is and is not part of the pojrect teams work

true

123

project scope is a statement detailing the features and functions that must support the it solution

false

124

project scope is statement detailing the deliverables and activities that support the it solution

true

125

actors are the people or external systems that are elements of a DFD

false

126

context level data flow diagrams are an example of a __________ oriented scope definition tool

product

127

a tangible verifiable work product is called a?

deliverable

128

a significant event or achievement is called a?

milestone

129

what is the risk of too little details in WBS

overly optimistic schedule and buget

130

what ist he risk of too much detail in WBS

micromanagement

131

what six characteristics must an activity possess to be considered complete?

measurable status, bounded, deliverable, time/cost can be estimated, acceptable duration, independent work assigments

132

what is one way to ensure the the WBS has the approriate level of detail?

involve the people who do the work in the development

133

the WBS is subdivided into smaller components called ?

work packages