DC37_APM Section 1_Management

Question 1

Project management

Answer 1

The process of guiding a project from its beginning through its performance to its closure.

Question 1

Project management includes three basic operations:

Answer 1

Planning, organizing, controlling

Question 2

A set of goals that gives rise to specific projects but it can never be fully accomplished. Also, a group of projects that achieve a common goal.

Answer 2

Program

Question 3

A comparative assessment of all benefits you anticipate from your project with all the costs to introduce the project, perform it, and support the changes resulting from it.

Answer 3

A benefit-cost analysis

Question 4

The excess of a project’s expected benefits over its estimated costs in today’s dollars.

Answer 4

Net Present Value (NPV)

Question 5

Market Requirements Document

Answer 5

A formal request to develop or modify a product.

Question 6

Business Requirements Document

Answer 6

A description of the business needs that a requested product, service, or system must address.

Question 7

Project request

Answer 7

A written request for a project by a group within the organization.

Question 8

Project charter

Answer 8

A document issued by upper management that formally establishes a project and authorizes the project manager to use organizational resources to perform project duties.

Question 9

Project profile

Answer 9

Highlights of key information about a project. Also called a summary or a project abstract.

Question 10

Work order

Answer 10

A written description of work that people or groups within an organization will perform in support of the project.

Question 11

Contract

Answer 11

A legal agreement for goods or services from an external vendor or contractor.

Question 12

A series of routine steps to perform a particular function.

Answer 12

Process

Question 13

SMART objectives:

Answer 13

Specific – define your objective clearly, in detail.
Measureable – Specify the measures or indicators you’ll use to determine whether you’ve met your objective.
Aggressive– Set challenging objectives
Realistic– Set objectives the project team believes it can achieve.
Time-sensitive – Include the date by which you’ll achieve the objective.

Question 14

Activity

Answer 14

The work to go from one event to another in your project

Question 15

Span time

Answer 15

The actual calendar time to complete an activity; also, duration.

Question 16

Work effort

Answer 16

The amount of time a person needs to complete an activity.

Question 17

Critical path

Answer 17

A sequence of activities that takes the longest time to complete.

Question 18

Noncritical path

Answer 18

A sequence of activities that you can delay and still finish your project in the shortest possible time.

Question 19

Slack time

Answer 19

The maximum amount of time that you can delay an activity and still finish your project in the shortest possible time

Question 20

Earliest start date

Answer 20

The earliest date you can start an activity

Question 21

Earliest finish date

Answer 21

The earliest date you can finish an activity

Question 22

Latest start date

Answer 22

The latest date you can start an activity and still finish your project in the shortest possible time

Question 23

Latest finish date

Answer 23

The latest date you can finish an activity and still finish your project in the shortest possible time.

Question 24

Project manager

Answer 24

The person ultimately responsible for the successful completion of the project.

Question 25

Project team members

Answer 25

People responsible for successfully performing individual project activities.

Question 26

Functional managers

Answer 26

The team members’ direct line supervisors.

Question 27

Upper management

Answer 27

People in charge of the organization’s major business units.

Question 28

Authority

Answer 28

The ability to make binding decisions about your project’s products, schedule, resources, and activities.

Question 29

Responsibility

Answer 29

The commitment to achieve specific results.

Question 30

Accountability

Answer 30

Bringing consequences to bear in response to people’s performance.

Question 31

Project Management Information System (PMIS)

Answer 31

A set of procedures, equipment, and other resources for collecting, analyzing, storing, and reporting information that describes project performance.

Question 32

Three parts of a project management information system(PMIS):

Answer 32

Inputs, processes, and outputs

Question 33

Inputs

Answer 33

Raw data that describe select aspects of project performance

Question 34

Processes

Answer 34

Storage and analysis of the data to compare actual performance with planned performance.

Question 35

Outputs

Answer 35

Reports presenting the results of the analyses.

Question 36

Drivers

Answer 36

People looking for your project’s results.

Question 37

Supporters

Answer 37

People who can help your project succeed.

Question 38

Observers

Answer 38

People interested in your project

Question 39

Interdependencies

Answer 39

What you must finish before you can begin your activity

Question 41

Primary responsibility

Answer 41

You’ve committed to ensure the results are achieved

Question 42

Secondary responsibility

Answer 42

You’ve committed to ensure some portion of the results is achieved.

Question 43

Approval

Answer 43

You’re not actually working on the activity, but you approve what others have done.