E2, Ch 4: Projects

Question 1

project

Answer 1

series of jobs directed toward a major output requiring significant time to perform

Question 2

project management

Answer 2

planning, directing, controlling resources to meet technical, cost, and time constraints

Question 3

project management involves juggling a __________ of projects

Answer 3

portfolio

Question 4

projects are… (4)

Answer 4

1. complex, one-time endeavor
2. limited by budget, schedule, etc.
3. developed to resolve a clear goal/set of of goals
4. customer-focused

Question 5

quadruple constraint

Answer 5

1. cost
2. time
3. quality
4. client approval/satisfaction

Question 6

________ are ongoing, repeatable, and established. Something we’ve started and consistently do. Greater certainty and often homogenous.

Answer 6

processes

Question 7

standish report on project completion (3)

Answer 7

1. successful – stuck to budget, timeline, and quality standards
2. challenged – project completed but either over budget, time, or quality is subpar
3. failed – canceled prior to completion

Question 8

__________-______ can be learned, whereas ______-______ are more difficult to learn as there are a variety of different types of people in the workplace

Answer 8

technical skills
people skills

Question 9

pure project

Answer 9

a self-contained team works full-time on the project

Question 10

functional project

Answer 10

splitting responsibilities based on functional areas; typically seen in corporate settings

Question 11

matrix project

Answer 11

a blend of pure and functional - ppl from diff functional areas work on project part-time

Question 12

advantages (4)/disadvantages (4) of PURE

Answer 12

advantages:
project manager has full authority
reporting to 1 boss
shortened communication lines
team pride/motivation high

disadvantages:
duplication of resources
org goals/policies ignored
lack of technology transfer
team members have no functional area, “home”

Question 13

advantages (4)/disadvantages (3) of FUNCTIONAL

Answer 13

advantages:
a team member can work on several projects
technical expertise maintained in functional area
functional area is “home”
critical mass of specialized knowledge

disadvantages:
aspects of project not directly to functional area get short-changed
motivation of team members weak
needs of client are secondary, responded to slowly

Question 14

advantages (5)/disadvantages (3) of matrix

Answer 14

advantages:
better communication
project manager held responsible
duplication of resources minimized
functional “home”
policies of org followed

disadvantages:
2 bosses
depends on manager’s negotiating skills
potential for sub-optimization

Question 15

statement of work

Answer 15

a written description of the objectives to be achieved

Question 16

task

Answer 16

further subdivision of a project
shorter and performed by a single group/org

Question 17

work package

Answer 17

group of activities combined to be assignable to a single org unit

Question 18

project milestone

Answer 18

specific events in life of project

Question 19

work breakdown structure

Answer 19

defines hierarchy of tasks, subtasks, and work packages

Question 20

activities

Answer 20

pieces of work that consume time

Question 21

gantt chart

Answer 21

shows in a graphic manner the amnt of time involved and sequence of events

Question 22

earned value management

Answer 22

technique for measuring project progress in an objective manner; combines scope, schedule and cost

Question 23

3 essential values of earned value management

Answer 23

1. project plan identifying activities
2. valuation of activities
3. predefining cost rules to quantify accomplishment

Question 24

a project is made up of a sequence of activities that form a ______ representing a project.

Answer 24

network

Question 25

critical path

Answer 25

the longest time is takes to complete a project

**refer to slides for example; will need to determine for exam

Question 26

critical path method, CPM (4)

Answer 26

1. identify each activity and estimate how long it will take
2. determine required sequence and construct network diagram
3. determine critical path
4. determine early start/finish and late start/finish

Question 27

CPM: when activity times vary, a single time estimate may not be enough; instead, we use 3 time estimates:

Answer 27

minimum
maximum
most likely

Question 28

project management process (5), aka process groups

Answer 28

1. initiation
2. planning
3. execution
4. monitoring, controlling (making changes w/in quadruple constraints when needed)
5. closure (identify what we learned)

Question 29

understand and draw PMI framework, refer to slides

Answer 29

ok

Question 30

___ in a Project Charter are critical; how one is graded on performance

Answer 30

KPIs

Question 31

hierarchical decomposition of work to be executed to achieve project deliverables; organizes and defines total scope of work with each descending level providing increasingly detailed definition of project work.

Answer 31

work breakdown structure

Question 32

traits of effective project managers reflect attributes of…

Answer 32

good leaders

Question 33

values based leadership (3)

Answer 33

• do the right thing by making choices aligning with your values
• seek to inspire and motivate
  uses influence to pursue what matters most
• what matters most is the Greater Good, aka positive change that can be affected within a team/division/etc.

Question 34

5 behaviors of effective leaders

Answer 34

model the way
inspire vision
empower others
challenge the process
encourage the heart

Question 35

the key aspect to managing a project is…

Answer 35

understanding the CURRENT STATUS

Question 36

goal of CPM

Answer 36

finding earliest time that the entire project can be completed