Exam Part 4 Flashcards
What two things have to be defined before you can accurately estimate resources?
- The project scope and the business requirements.
- The Work Breakdown Structure (WBS) and data analysis.
- The project schedule and all possible risk responses.
- The project scope and the Work Breakdown Structure (WBS).
Answer: The project scope and the Work Breakdown Structure (WBS).
Overall explanation
Though the project charter and stakeholder register are outputs of the initiating phase, they are not the reason the phase is done. The purpose of this phase is to obtain someone’s (or a group of someones’) authorization to start a project. The business case doesn’t work here because that’s a precursor to the initiating phase, allowing a company to decide whether there’s enough of a case to even begin writing a charter, for example. And finally, the planning phase isn’t kicked off by the intiating phase. The planning phase simply begins once signoff on the initiating phase is obtained.
Which is the overarching project management process that must be done at all times no matter which part of the project lifecycle you’re in?
- Controlling & Monitoring
- Executing
- Planning
- Initiating
Answer: Controlling & Monitoring
Overall explanation
No matter whether you’re just starting a project, deep in the planning phase, executing on your solution or closing up the project, a project manager is expected to control and monitor what’s happening at every step of the way, and is therefore the only process that overarches all the others.
After lessons learned are gathered from all those involved in the project, what can you then do with the project resources to help complete the closing processes?
- Celebrate with them
- Put them back into storage (if they are “things” such as computers, calculators or extra materials)
- Say good-bye
- Release them to be reassigned
Answer: Release them to be reassigned
Overall explanation
Those Responses A and C are kind things to do, and Response D is very practical, releasing the resources so they can be reassigned elsewhere - whether those resources are people, facilities or materials - are the most beneficial to the organization, because this act ensures that if those resources are needed elsewhere, you’ve freed them for that needed reassignent.
Which of the following project processes are not repeated at the beginning of each iterative phase of a project using an agile (or adaptive) life cycle?
- Create Work Breakdown Structure
- Define Scope
- Manage Project Knowledge
- Collect Requirements
Answer: Manage Project Knowledge
Overall explanation
Managing project knowledge is something a project manager should be doing throughout the entire life cycle of a project regardless of what phase or iteration a project is in.
Three processes (Collect Requirements, Define Scope, and Create WBS) are repeated for each iteration.
On the contrary, in a predictive project, these processes are performed toward the beginning of the project and updated as necessary, using the integrated change control process.
Which of the following is NOT a possible output to the Validate Scope process?
- Change Requests
- Project Management Plan
- Accepted Deliverables
- Work Performance Information
Answer: Project Management Plan
Overall explanation
The Project Management Plan is one of the inputs to the Validate Scope process. The other three are possible outputs. Deliverables that meet the acceptance criteria are formally signed off and approved by the customer or sponsor. Formal documentation received from the customer or sponsor acknowledging formal stakeholder acceptance of the project’s deliverables is forwarded to the Close Project or Phase process. Work performance information includes information about project progress, such as which deliverables have been accepted and which have not been accepted and the reasons why. And finally, the completed deliverables that have not been formally accepted are documented, along with the reasons for non-acceptance of those deliverables. Those deliverables may require a change request for defect repair. The change requests are processed for review and disposition through the Perform Integrated Change Control process.
Which of the following risk parameters is defined by the degree to which a risk is perceived to matter by one or more stakeholders?
- Controllability
- Detectability
- Dormancy
- Propinquity
Answer: Propinquity
Overall explanation
In addition to assessing the likelihood and impact of a risk upon the project, there are nine other characteristics that the PMBOK advises may help you evaluate and develop other risks and risk mitigation strategies, including all of the answers here. But the one defined in the question is propinquity, which means that if a risk is perceived as being high then it’s high even if the reality of the risk may not be as impactful as perception indicates.
Dorian’s managing a project to refresh all servers for a global organization with more than 60 offices worldwide. It’s had a lot of ups, downs and unexpected changes to both scope and schedule, and as the project team completes server refreshes for the sixteenth office, the project steering committee asks to understand the project’s cost performance. What formula should Dorian apply in order to provide them with this information?
- SPI = EV/PV
- SV = EV – PV
- EAC = AC + New ETC
- CV = EV - AC
Answer: CV = EV - AC
Overall explanation
CV, which stands for Cost Variance, is the amount of budget deficit or surplus at a given point in time. It is a measure of cost performance on a project and is achieved by subtracting the actual costs (AC) of the project from the earned value (EV). However, in order to use this equation you have to first calculate Earned Value, which shows how much of the budget and time should have been spent, considering the amount of work done. So if you have spent 3/4 of your budget but you’re only supposed to have spent 1/4 of it, then your EV is not at all good. Conversely, if you’re halfway through the project and have only spent 1/4 of your estimated spend, then you are ahead of the game. EV = Total Project Budget x (times) Percent (%) of project completion. The EAC formula is to calculate the estimate at completion, which is not what the steering committee asked for. SV is the schedule variance, which has nothing to do with the cost variance equation. And finally the SPI is the schedule performance index which also does not help in determining the cost variance of a project at a given point in time.
Nadia works for a construction firm in a Canadian company. The construction season is so short due to inclement weather during the winter months that much of the outdoor construction has to be done during June, July and August. As she and her project team evaluate proposals from brick vendors for material that will be used in building a remotely located school, they realize that each of their three top choices come with their own set of potential problems that will have to be monitored closely if they’re chosen. Once the team selects a vendor, where should Nadia record these things which may put their project’s scope, schedule or budget in jeopardy?
- Risk Register
- Assumption Log
- Requirements Traceability Matrix
- Issue Log
Answer: Risk Register
Overall explanation
Each approved seller comes with its own unique set of risks, depending on the seller’s organization, the duration of the contract, the external environment, the project delivery method, the type of contracting vehicle chosen, and the final agreed-upon price. A Risk Register will help Nadia and her team ensure that their chosen vendor’s known risks are monitored, and that mitigation strategies are identified and agreed upon with the vendor.
There are three potential solutions for Travel Trucks Unlimited’s project which aims to refresh their fleet of delivery trucks to ensure they’re getting the best gas mileage and are as safe as possible for their drivers. They could replace the entire fleet of 20 trucks with brand-new vehicles, they could simply do an overhaul on each of their existing trucks or they could choose the best 10 and overhaul those, while completely replacing the worst 10 trucks. What form of analysis should they do now to support selection of the best of several alternative courses of action?
- Sensitivity Analysis
- Decision Tree Analysis
- Simulation
- Influence Diagram
Answer: Decision Tree Analysis
Overall explanation
Decision trees are used to support selection of the best of several alternative courses of action. Alternative paths through the project are shown in the decision tree using branches representing different decisions or events, each of which can have associated costs and related individual project risks (including both threats and opportunities). The end-points of branches in the decision tree represent the outcome from following that particular path, which can be negative or positive. The decision tree is evaluated by calculating the expected monetary value of each branch, allowing the optimal path to be selected.
Cara works for a company that sells multi-functional furniture and she’s tasked with a project to produce one new ten-page “how to” pamphlet every two weeks for sixteen weeks, in order to provide customers with quick and easy reference guides for their new multi-functional line of beds. Cara’s team gained a little ground during the recent holiday season because none of them took vacations. At next week’s steering committee meeting she is going to use a new EVM technique to explain to project stakeholders how far ahead of schedule the project is based on what they’ve accomplished versus when they originally meant to have accomplished that goal. What emerging Project Cost Management technique is Cara going to use?
- Earned Schedule (ES)
- Schedule Performance Index (SPI)
- Actual Time (AT)
- Planned Value (PV)
Answer: Earned Schedule (ES)
Overall explanation
ES (Earned Schedule) is an extension to the theory and practice of EVM (Earned Value Management). Earned schedule theory replaces the schedule variance measures used in traditional EVM (earned value − planned value) with ES and actual time (AT). Using the alternate equation for calculating schedule variance ES − AT, if the amount of earned schedule is greater than 0, then the project is considered ahead of schedule.
Eva’s just taken a position in the engineering department of her local phone company. Part of her job description includes the fact that she may be called upon to participate in various engineering work groups while in the role and eventually she may even wind up leading some of those projects herself but that if she does she’ll have little to no authority and her manager would be managing the budget rather than her. What type of organizational structure does Eva’s new employer have?
- Functional (centralized)
- Matrix (balanced)
- Virtual
- Project-oriented (composite, hybrid)
Answer: Functional (centralized)
Overall explanation
Page 47 of the PMBOK contains Table 2-1. Influences of Organizational Structures on Projects and this is where you will find and must learn the various characteristics that describe all of these types of organizations. In Eva’s case, while the work group described could have placed her organization into either Matrix (balanced) or Functional (centralized), the deciding factor for Functional (centralized) was the little to no authority for the project manager and the fact that the functional manager is the one who manages the budget.
The PMBOK lists many different components that can comprise a project management plan including a Quality Management Plan, a Scope Baseline and a Development Approach. How many total components does the PMBOK state is possible to have in your project management plan?
- 18
- 16
- 10
- 15
Answer: 18
Overall explanation
Table 1-2. Project Management Plan and Project Documents on page 559 of PMBOK 6th Edition lists 18 possible components to the Project Management Plan.
Dana is in the midst of facilitating a workshop that her project stakeholders are attending, in which she has asked them to write down one project risk per Post-It Note and identify where on a four-quadrant diagram the risk should be placed by judging whether it’s high or low impact and high or low probability. What type of analysis is Dana facilitating?
- Quantitative Risk Analysis
- Plan Risk Responses
- Identify Risks
- Qualitative Risk Analysis
Answer: Qualitative Risk Analysis
Overall explanation
Perform Qualitative Risk Analysis is the process of prioritizing individual project risks for further analysis or action by assessing their probability of occurrence and impact as well as other characteristics. The key benefit of this process is that it focuses efforts on high-priority risks. 1. Identify Risks. 2. Perform Qualitative Risk Analysis. 3. Perform Quantitative Risk Analysis. 4. Plan Risk Responses.
Which of the following pairs are Tools & Techniques for Managing Quality?
- Decision-Making and Audits
- Problem-Solving and Quality Improvement Methods
- All of these
- Data Gathering and Data Analysis
Answer: All of these
Overall explanation
External risks are: Regulatory, Competitors, Suppliers, Customer and Acts of God. Technology is one of the sub-categories under the Technical type of risk.
George is tasked with standing up a new retail store for a medical marijuana business in a state where medicinal use has been legalized. However, the state requires any organization who’s opening up a medical marijuana dispensary to adhere to some very strict guidelines, many of which must occur in a very specific order, such as obtaining certain licenses and passing several inspections before the company can begin construction on their new building. Which input to “Sequencing Activities” do all of these government regulations he must abide by fall under?
- Organizational Process Assets
- Activity List
- Project Management Plan
- Enterprise Environmental Factors
Answer: Enterprise Environmental Factors
Overall explanation
The enterprise environmental factors that can influence the Sequence Activities process include but are not limited to: -Government or industry standards, -Project management information system (PMIS), -Scheduling tools, and -Organization work authorization systems.
As Walter reviews the Requirements Traceability Matrix (RTM) for his project, he realizeds that all of them describe the higher-level needs of the organization as a whole, such as the business issues or opportunities, and reasons why a project has been undertaken. What category of requirements have been gathered?
- Functional requirements
- Technical requirements
- Business requirements
- Stakeholder requirements
Answer: Business requirements
Overall explanation
Though entirely possible that all the requirements are stakeholder and/or functional requirements, the definition provided in the question leads to Business requirements being the correct answer, as the question did not indicate where the requirements came from or what precisely they were for.
How many communication skills techniques are there?
- 10
- 5
- 1
- 2
Answer: 2
Overall explanation
There are 2. Feedback and presentations.
Augustin attends a steering committee one day where he, as the project manager of a multi-million dollar construction project, is celebrated and praised by all the steering committee members for finding a flaw in the original architect’s blueprints that could have cost the city nearly one million dollars if it had been discovered after the building was already under construction. However, Augustin wasn’t the one who actually discovered the error; he was merely the one who brought it to the architect’s attention, and he tells the committee members as much. In being honest and forthright about who the credit should really go to, which leadership quality has Augustin displayed?
- Accepting feedback graciously
- Giving credit to others where due
- Giving feedback constructively
- Managing expectations
Answer: Giving credit to others where due
Overall explanation
Augustin demonstrated several leadership qualities, and all of the options presented are ones all project managers, as leaders, should display. However, for the particular scenario presented, “Giving credit to others where due” is the correct answer. A leader proves him or herself a leader by not taking credit for something that wasn’t entirely their doing. Even if the Project Manager did have a part in what occurred, they should still always give credit to all involved parties. This behavior goes a long way toward solidifying loyalty and operating with integrity and in an ethical manner.
Who does the Project Management Book of Knowledge (PMBOK) say is responsible for what the project team produces?
- Project Business Owner
- Executive Sponsor
- Project Sponsor
- Project Manager
Answer: Project Manager
Overall explanation
Project Management Institute explains the role of a project manager as being similar to that of an orchestra’s conductor, stating, “The project manager and conductor are both responsible for what their teams produce—the project outcome or the orchestra concert, respectively. The two leaders need to take a holistic view of their team’s products in order to plan, coordinate, and complete them.”
Joan is working through the various activities required to build a virtual server environment onsite for the software development project she’s managing. Very quickly she realizes that the tasks related to the IT Network resource assigned to the project, need more time than what was originally allocated. She thinks there may be some other conflicts with resources who are already working on other projects, that she may need for tasks on hers. What is a visual method Joan can use to show potential resource conflicts or issues, that is considered one potential output to the Develop Schedule process?
- Resource Histogram
- Alternative Schedule
- Project Callendar
- Applied Schedule Reserve
Answer: Resource Histogram
Overall explanation
The schedule data for the project schedule model is the collection of information for describing and controlling the schedule. The schedule data includes, at a minimum, the schedule milestones, schedule activities, activity attributes, and documentation of all identified assumptions and constraints. The amount of additional data varies by application area. Information frequently supplied as supporting detail includes but is not limited to: Resource requirements by time period, often in the form of a resource histogram; Alternative schedules, such as best-case or worst-case, not resource-leveled or resource-leveled, or with or without imposed dates; and uu Applied schedule reserves. Schedule data could also include such items as resource histograms, cash-flow projections, order and delivery schedules, or other relevant information.