Project Management Planning (PMP & Business Case)

Question 1

What is a business case?

Answer 1

Justification to business for undertaking a project

Question 2

Who is responsible for the business case?

Answer 2

Project Sponsor (AKA Project Executive)

Question 3

What goes in a business case?

Answer 3

1. Strategic Case (why is project needed?)
2. Options Appraisal (what options have been considered, what is preferred. Include “do nothing”)
3. Expected Benefits
4. Commercial Aspects (Cost, investment appraisal, funding arrangements)
5. Risk (and their impact on project)
6. Timescales (delivery of outputs and realisation of benefits)

Question 4

What is a benefits?

Answer 4

Positive and MEASURABLE impact of change

Question 5

What is the benefits management process?

Answer 5

Definition (Policy)
Identification (quantify benefits)
Planning (Baseline)
Implementing (change of BAU)
Realisation (measurement)

Question 6

What is the purpose of a Project Management Plan?

Answer 6

Contract between PM and Project Sponosor. It details how the project will be managed E.g. how we will manage risk, and quality. Why what when how where who and where.

Question 7

Who creates and owns the Project Management Plan?

Answer 7

Project Manager owns, it is created by PM and project team

Question 8

What is a stakeholder?

Answer 8

An individual or group with an interest in the project because they are involved in the work or affected by the outcomes

Question 9

What is stakeholder management?

Answer 9

The systematic identification, analysis, planning and implementation of actions designed to engage stakeholders

Question 10

What is stakeholder analysis and why is it important?

Answer 10

Identify Who
Assess their influence
Develop communication plans
Engage and influence them

Question 11

What are success factors defined as?

Answer 11

Management practices that increase the likelihood of success of a project

Question 12

When is the PMP created?

Answer 12

Definition phase. It is updated in teh Development phase

Question 13

Who approves the PMP?

Answer 13

Project sponsor

Question 14

What is comparative (or analogous) estimation?

Answer 14

Using historical data from similar projects and extrapolating estimates for new work

Question 15

What is parametric Estimation?

Answer 15

Define parameters that work can be measured and use the results to predicts values in current work. Requires extensive database

Question 16

What is bottom up (or analytical) estimation?

Answer 16

Use detail specification to estimate time, cost for each component of the work

Question 17

What are some examples of success factors?

Answer 17

Clear goals and objectives
Focus on business value
Defined governance structure
Senior mgmt commitment
timely and clear communication
Trained and motivated team

Question 18

What is the definition of a success criteria

Answer 18

Qualitative or quantitative measure by which the success of the project in producing its deliverables is judged
(e.g. Quality, Time, Cost)

Question 19

What is KPI?

Answer 19

A measure of progress towards the achievement of success criteria

Question 20

What is KPI?

Answer 20

A measure of progress towards the achievement of success criteria

Question 21

Key Performance Indicators indicate progress of the project towards
achieving:
a. Success criteria
b. Success factors
c. The project teams personal objectives
d. Adherence to mandated procedures

Answer 21

A

Rationale: Success Criteria include time, cost and quality. KPI’s are used to
demonstrate that money (cost) is being spent as planned and products are being
produced to the defined quality and at the right rate (time) to achieve the projects
objectives.

Question 22

Which option should always be considered when justifying a new project?

a. The minimum quality option
b. The minimum performance option
c. The earliest delivery option
d. The do nothing option

Answer 22

D

Rationale: The cost of not doing the project should always be considered to
demonstrate the value of the project. Even projects related to regulatory changes can
be set in context of the likely fines, or other repercussions, of non-compliance.

Question 23

The business case serves as output from the \_\_\_\_\_ phase and input to the \_\_\_\_\_
phase of a project life cycle.
a. Concept, Definition
b. Concept, Development
c. Definition, Development
d. Concept, Handover and Closure

Answer 23

A

Rationale: The business case documents the initial idea for the project and justifies its
costs and benefits. Acceptance, or approval, of the business case is required before the
planning in definition commences.

Question 24

Which of the following would usually be associated with the business case
rather than the project management plan?
a. Risk management plan
b. Investment appraisal
c. Schedule
d. Project organisation structure

Answer 24

B

Rationale: The investment appraisal is used to justify the project. The project
management plan is concerned with what needs to be done once it has been approved.

Question 25

Who is accountable for benefits realisation? a. Project manager b. Project sponsor c. User d. Corporate management

Answer 25

B Rationale: The project sponsor provides the funds for the project on the basis that investment in the project will bring benefits that make it worthwhile.

Question 26

Who is accountable for benefits realisation? a. Project manager b. Project sponsor c. User d. Corporate management

Answer 26

B Rationale: The project sponsor provides the funds for the project on the basis that investment in the project will bring benefits that make it worthwhile.

Question 27

Which of the following best describes a project management plan? a. A printout from project management software b. A bar chart c. The project scope d. Risk, resourcing, quality and other management plans

Answer 27

D Rationale: The project management plan is a collection of documents that detail how different aspects of the project will be managed.

Question 28

The project management plan: a. Is owned by the project manager b. Is the responsibility of the customer c. Has the same content for all projects in an organisation d. Remains unchanged during the implementation phase

Answer 28

A Rationale: The project management plan is the contract between the project manager and the sponsor: it provides the detail of how the project manager will deliver the outputs required to achieve the outcomes the sponsor desires

Question 29

Differences between the various project stakeholders' requirements are resolved by: a. The project manager b. The organisation's project management office c. The project sponsor d. The most senior manager in the organisation

Answer 29

C Rationale: As the sponsor is accountable for the benefits associated with the project, they will ultimately resolve any differences between stakeholders to ensure delivery.

Question 30

All of the following are part of the project team's stakeholder management effort except: a. Identifying the stakeholders b. Determining the stakeholders needs c. Giving the stakeholders extras d. Managing the stakeholders' expectations

Answer 30

C Rationale: Giving extras, or "gold-plating" is not part of stakeholder management.

Question 31

Stakeholders can be typically mapped according to their respective: a. Power and Motivation b. Seniority and geographic location c. Power and Interest d. Networks and communication links

Answer 31

C Rationale: Typically each stakeholder’s interest in the project, how much they support or object to the project, is mapped against how much power or authority they have to influence the outcome.

Question 32

Define Success Criteria, Key Performance Indicators, Success Factors, and Benefits

Answer 32

Success Criteria = qualitative or quantitative measures by which success of the project will be judged Success Factors = management practices that increase the likelihood of success of a project KPI = measure of success used through out the project to ensure progression towards successful conclusion Benefit = quantifiable and measurable improvement resulting from completion of the project (perceived as positive by stakeholders)