Final Exam Review (Ch. 1-14)

Question 1

Project

Answer 1

a temporary and unique undertaking completed to achieve some objectives.

Question 2

Deliverables

Answer 2

tangible, verifiable work products.

Question 3

Project Management

Answer 3

application of tools and techniques to accomplish projects.

Question 4

Programs

Answer 4

a collection of related projects.

Question 5

3 aspects of triple constraint

Answer 5

Cost, Time, Scope/Quality

Question 6

Socio-technical

Answer 6

uses both tools and techniques as well as human empathy.

Question 7

What are the phases of the project lifecycle

Answer 7

initiation, planning, execution/control, closure

Question 8

What happens at the end of each phase?

Answer 8

gate review

Question 9

what is a gate review

Answer 9

decide whether or not you want to continue with the project.

Question 10

who are the stakeholders?

Answer 10

anyone who is affected by the project

Question 11

who is the sponsor of the project?

Answer 11

they are the boss, provide money and have power over the project.

Question 12

what is a project managers number one skill?

Answer 12

communication

Question 13

what are sacred cows

Answer 13

something you are doing that you aren’t allowed to question. usually what is holding you back

Question 14

what do project managers control?

Answer 14

tasks, schedule and costs

Question 15

what do functional managers control?

Answer 15

standards, location, resources and deliverables

Question 16

what is the criteria for project selection

Answer 16

length, payback period, cost, type of benefit, NPV, strategic fit

Question 17

what is a functional organization

Answer 17

the functional manager has the most power and the project managers role is not well defined

Question 18

what is a projectized organization

Answer 18

the projects are the departments, the project manager has the most power.

Question 19

what is a balanced matrix organization

Answer 19

both the project and functional managers are the boss

Question 20

what is a “skunkworks project”

Answer 20

taking a team from a functional organization and have them work solely on the project.

Question 21

what is the Project Management Office (PMO)

Answer 21

provides standards and terminology and training and support.

Question 22

what is scope

Answer 22

what the end result or mission of project is

Question 23

scope creep

Answer 23

request to change or add things to the scope

Question 24

change management

Answer 24

formally control the changes being made to a project

Question 25

work break down structure

Answer 25

used to break down the work into smaller bite size components.

Question 26

work packages

Answer 26

lowest level in the work break down structure, usually last 10 days.

Question 27

what are the two types of estimation?

Answer 27

top down and bottom up

Question 28

top down estimation

Answer 28

rough estimate, has no detail.

Question 29

bottom up estimation

Answer 29

detailed estimate for each work package.

Question 30

Estimation equation

Answer 30

1P + 4ML + 1 OP | 6

Question 31

what is the management reserve

Answer 31

in case something unexpected happens during the project it extra money put into the budget. The sponsor must sign off.

Question 32

what is a precedence relationship

Answer 32

what needs to be finished to continue

Question 33

earliest start (ES)

Answer 33

when is the earliest the project can start

Question 34

earliest finish (EF)

Answer 34

when is the earliest the project can finish

Question 35

Latest Finish (LF)

Answer 35

when is the latest the task can finish without delaying an entire project

Question 36

Latest Start (LS)

Answer 36

when is the latest the task can start without delaying an entire project.

Question 37

slack

Answer 37

amount of extra time you have to do the package/task. (LS-ES)

Question 38

if resources are not constrained and need to reduce project duration

Answer 38

add resources, outsource, overtime, establish core project team, do the project twice.

Question 39

if resources are constrained and need to reduce project duration

Answer 39

overtime, fast-tracking, reduce scope, compromise quality

Question 40

what is crashing?

Answer 40

wanting to reduce the time on the project, usually costs more money for less time.

Question 41

what are the kinds of resource restraints

Answer 41

people, equipment, money, materials

Question 42

when should the status date be

Answer 42

every 2 weeks.

Question 43

what is the status date

Answer 43

when you collect data

Question 44

0/50/100 rule

Answer 44

``` 0 = not started 50 = started 100 = finished ```

Question 45

Optimal team

Answer 45

less than 10 people who have volunteered and are full time on the project.

Question 46

role of devils advocate

Answer 46

needs to be transferred throughout the project team.

Question 47

What are the project pitfalls

Answer 47

group think, bureaucratic bypass syndrome, going native

Question 48

what is group think

Answer 48

gets isolated and ignore external input

Question 49

what is bureaucratic bypass syndrome

Answer 49

believe the rules don't apply to the group

Question 50

what is going native

Answer 50

consultant or someone who is supposed to be observing joins the group.

Question 51

who do projects fail?

Answer 51

poor planning, poor direction, scheduling, people, organizing, controlling

Question 52

what is in the process of closure of a project

Answer 52

review, release resources, close contracts, lessons learned.

Question 53

what is risk

Answer 53

the chance of an undesirable event occurring

Question 54

risk management process

Answer 54

risk identification, risk assessment, risk response, risk response control

Question 55

what are the responses to risk

Answer 55

mitigation, transfer, avoid, share, retain

Question 56

what are the types of risk

Answer 56

technical, schedule, cost

Question 57

what is the opposite of risk

Answer 57

opportunity