Chapter 2

Question 1

As a project manager in a balanced matrix organization, how much authority do you have?

Answer 1

Low to Moderate;

A PM has low to moderate authority in a balanced matrix organization.

Question 2

What is a stakeholder?

Answer 2

Any individual or business that may be positively or negatively affected by the project.

Question 3

What are operations?

Answer 3

Operations deal with day to day work and have no start or end date.

Question 4

What is project management?

Answer 4

Project management is the application of knowledge, skills, tools, and techniques to meet the project requirements. Its about managing people to accomplish the scope of the project in given constraints of time and cost.

All projects are limited in time, cost and scope.

Question 5

What is an Agile project?

Answer 5

Also known as an adaptive or change driven project where the product is built in small increments instead of all at once. Agile supports change and allows the customer to add requirements.

Question 6

What is a hybrid project?

Answer 6

When predictive and agile are combined.

Question 7

What is the value of projects?

Answer 7

The main reason a company does a project is to derive value from the output. Value can be tangible (money) or intangible (Repuatation)

Question 8

What does ITTO stand for?

Answer 8

Inputs, Tools and Techniques and Outputs

Question 9

What is a phase?

Answer 9

A phase is a division within a project where extra control is needed. A phase is completed with the completion of a deliverable. Each phase follows all process groups Initiation, Planning, Execution, Controlling and Monitoring, and Closing.

Question 10

What are phase gates

Answer 10

AKA as kill points, phase reviews or stage gates. They are held at the end of each phase of a project to determine if the project is meeting it goals.

Question 11

What are baselines?

Answer 11

There are 3 baselines on all projects: Scope, Time and Cost.

A baseline is the original plan plus any approved changes

Cost baseline = Budget
Schedule Baseline = Project Schedule
Scope Baseline = what needs to get done.

Question 12

What is a standard?

Answer 12

Is approved by a recognized body that provides guidelines e.g. PMBOK

Question 13

What is a system?

Answer 13

Includes all the formal procedures and tools put in place to manage something.

Question 14

What are regulations?

Answer 14

Regulations are official documents which must be followed and are generally imposed by law. E.G PHIPPA

Question 15

What are lessons learned?

Answer 15

Recorded at the end of every project and are examined so the next time you do it better.

Question 16

What is a constraint?

Answer 16

All projects are constrained by their scope, cost, quality, resources, and risk.

Question 17

What is a program?

Answer 17

A program is a collection of projects containing a common goal managed by a program manager.

Question 18

What is a predictive lifecycle?

Answer 18

It is when the scope, cost and time are known early in the project.

Question 19

What is a virtual organizational structure?

Answer 19

Where is project management is done virtually using different types of computer technology. PM authority is low to moderate and will generally share resources.

Question 20

What is a functional organizational structure?

Answer 20

PM has very little control. Resources are controlled by a functional manager and even the PM reports to a functional manager.

Question 21

What is a Project?

Answer 21

A temporary endeavor with a defined beginning and end which produces a unique service product or results.

Question 22

What is a hybrid organizational structure?

Answer 22

When a company uses more the one type of organizational structure? e.g. may be functional in operations but project oriented in another department.

Question 23

What is a matrix?

Answer 23

A business structure between functional and projectized. There are 3 types

Weak - PM has a little more power but low authority
Balanced - PM power is equal to functional manager
Strong - PM has the most power and is generally a full-time position

Question 24

What is an organic or simple organizational structure?

Answer 24

Role of the PM doesn’t really exist. PM is often part-time and the owner generally controls the budgets.

Question 25

What is a process group?

Answer 25

A set of processes that a project manager may be doing at one times. There are 5

Initiating
Planning
Execution
Controlling and Monitoring 
Closing

Question 26

What is a deliverable?

Answer 26

The part of a project that is presented to the customer or stakeholders for acceptance. To know if a deliverable is good or not it must be accepted by the client

Question 27

What is a project oriented structure?

Answer 27

Where the PM controls 100% of the resources.

Question 28

What is project governance?

Answer 28

The framework, functions and processes that a company will follow in order to complete a project.

Question 29

What is a PMO?

Answer 29

Provides guidance and support for all project managers in the company. Ensure standards are followed and can be broken into supportive (low auth), controlling (Moderate auth) or directive (full auth)

Question 30

What is a knowledge area?

Answer 30

A set of processes that are usually defined by the knowledge needed to manage that area. There are 10 knowledge areas Integration, scope, schedule, cost, quality, resources, communication, risk, procurement and stakeholders.

Question 31

What is historical information?

Answer 31

Records which have been learned from previous projects. Can include templates and lessons learned.

Question 32

What is a portfolio?

Answer 32

A collections of projects and programs which are implemented to achieve a strategic business goal and are managed by a portfolio manager.

Question 33

What is an incremental or adaptive development lifecycle?

Answer 33

When the scope is known early but the time & cost will be refined as the project is progressing. This is done using iterations of the products.