Exam #2

Question 1

Project Schedule importance

Answer 1

key technical aspect of project management serves as the main integration point for planning efforts and includes most project plans

Question 2

Project Schedule steps

Answer 2

is a tool that
1)merges all of the work to be performed(WBS)
2) their estimated duration/effort
3) their task relationships(Activity on node)
4)assigned resources,
5) risks response
to a calendar

Question 3

Final Project schedule should be

Answer 3

complete (all WBS), accepted(by stakeholders) , realistic (time expectations, formal (documented)

Question 4

time decomposition

Answer 4

breaking down project deliverables into smaller and more manageable activities

Question 5

analogous estimating

Answer 5

top down estimating; history

Question 6

parametric estimating

Answer 6

multiplying work to be done by a known productivity rate

Question 7

contingency reserves

Answer 7

used for known unknowns by project manager

Question 8

management reserves

Answer 8

used for unknown unknown by management sh

Question 9

shorten schedule

Answer 9

crashing:add resources to critical path activities only
fast tackling: perfrom critical path activities in parallel
process improvements: gaining over productivity
overtime: get extra time

Question 10

critical path

Answer 10

The earliest path through the project, given
the current task relationships and estimated
durations

Question 11

mandatory dependencies

Answer 11

hard dependencies or logic

Question 12

discretionary dependencies

Answer 12

permed way of doing things

Question 13

external dependencies

Answer 13

project depended on external environment factors(weather, permits)

Question 14

straight line depreciation

Answer 14

Ann. Dep. = (Purchase Price – Salvage Value) / Usable Life

Question 15

Developing initial budget

Answer 15

use bottom up approach and excel

Question 16

estimating the budget phases

Answer 16

initial phase: ROM (-50,+50)
planning phase: definitive estimate (-5,+10)

Question 17

Estimating costs

Answer 17

analogous estimating: top-down estimating using history
parametric estimating: multiply the quantity of work to be performed by a productivity rate

Question 18

Finalizing budget

Answer 18

once the project schedule nears completion and actual resources have been identified

Question 19

project control

Answer 19

processes that enure that project objectives are met by monitoring and measuring progress regularly to identify variances from plan so that corrective action can be taken if necessary

Question 20

Principles of project control

Answer 20

PDA (prevention, detection, action)

Question 21

Management fundamentals for project control

Answer 21

pay attention early (15% completion rule almost no project recovers from a variance at the 15% completion point

Question 22

Powerful technique for porject control

Answer 22

milestone and checkpoints

Question 23

Performance reporting

Answer 23

answer 3 big questions:
Where do we stand
what variances exist and how are we solving them
has the forecast changed

Question 24

variances responses

Answer 24

take corrective action, ignore small problems, cancel the project if necessary, reset baselines,

Question 25

Project recoveries

Answer 25

review planning principles, reset baseline, frequent status check, aggressive issue resolution, ensure clarity, increase visibility and accountability

Question 26

project change

Answer 26

a change in any of the critical success factors (scope, schedule, costs, quality, and project acceptance criteria)

Question 27

fundamental for managing project change

Answer 27

plan for changes, set up a change control system, educate stakeholders, use the system built, over-communicate, minimize scope changes, be watchdog

Question 28

Project change control system key principles

Answer 28

scope changes are documented, evaluated, and approved before, stakeholders are involved with changes and communicated and documented, correct management level supports change requests, impact of change is assessed, roles and responsibilities are clearly defined,

Question 29

project change control system key components

Answer 29

change request form, change request log, unique identification number to track, made a control board (stakeholders)

Question 30

Managing project deliverables

Answer 30

configuration management, the process by which work products are controlled

Question 31

Managing Project issue

Answer 31

proactive project management; the earlier an issue is identified the greater the chance of resolving the issue before it impacts any of the project’s critical success factors

Question 32

The objective of project issue management

Answer 32

to identify, record, track, resolve, and communicate all issues that may impact the project

Question 33

principles of project issue management

Answer 33

administrative process principles and project manager mindset principle

Question 34

administrative process principles

Answer 34

document the issues, track until closure, align with project needs, cost-effective approach

Question 35

project manager mindset principle

Answer 35

ringmaster: a focal point for tackling issues
smiling bulldog: persistence with a warm style
swivel head: on the constant lookout for potential trouble
goaltender: let no issues go unnoticed or unresolved
disciplined

Question 36

key features of issue management system

Answer 36

a clear process with escalation procedures, issue log, issue data point, issue log admin

Question 37

Best practices for dealing with project issues

Answer 37

assign a unique id to the issue, make one person responsible, take ownership, try to solve the issue at the lowest level, and find root cause of issue, review issues frequently

Question 38

Manging project risks

Answer 38

is the ultimate proactive project management ; to identify and prepare for any potential threats to the projects critical success factors before they occur

Question 39

risk matrix

Answer 39

id #, risk description, probability, impact, importance( prob*impact), category, owner
add scale 1-10 at bottom

Question 40

rik response options

Answer 40

avoidance, acceptance, monitoring and prepare, mitigate, transference(insurance policy)

Question 41

powerful risk control strategies

Answer 41

tackle high risks first, communicate with stakeholders, detect planning defects

Question 42

project quality

Answer 42

conformance to requirements and fitness of use, project satisfies customer needs and completes what was asked of

Question 43

principles of managing project quality

Answer 43

identify targets(needs), plan for quality right size it set expectations, stay customer focused, assume nothing, up to PM to assure quality

Question 44

Tools for project quality

Answer 44

checklists, templates, reviews, completion criteria, audits, standards, quality management plans,

Question 45

Leading a project

Answer 45

communication skills, technical skills, leadership skills, business management skills, project management fundamentals

Question 46

Keys to better project leadership

Answer 46

about the people(customers), visualize the goal and how to get there, earn trust, take ownership, be resilient, facilitate progress, be a teacher, compensate for weakness, have self-control