General knowledge

Question 1

What is the Requirements Management Plan, who owns it, and when is it created?

Answer 1

Specifies process for gathering, documenting, analyzing, prioritizing, and validating requirements.

• Defines roles/resp for SHs involved in reqs process
• Plan Scope Mgmt Output besides the Scope Mgmt plan

Question 2

How are changes managed in Requirements MP?

Answer 2

Change MP : How changes managed across entire project.
- Might include specific section/reference related to requirements changes.
- But detailed change control process specific to requirements usually in Reqs MP.

Question 3

Where does Change MP and Config MP Live?

Answer 3

In Project Management Plan along with all other subsidiary plans.

PM plan shows how project will be executed, monitored, controlled, and closed.
-Controlled is when we implement change mgmt process.

Processes that implement Change/Config mgmt plans
-Perform Integrated Change Control> Output: Approved CR

Reqs MP: Has it’s own Change Control process for reqs to follow.

Question 4

Come Back

Benefits Cost Ratio

Find example problem just incase to practice.
Need to reinforce right formula.

Answer 4

Benfit means REVUNUE, not profit.
Revenue is money coming in , before costs, taxes or other expenses.

Sum PV Benefits/ Sum PV Costs
(Revenue-Cost)/Cost X 100, don’t forget to multiply 100.

ROI Question: Don’t just put Benefit/Cost That messed up my answer. Need to put

Net Return/Net Investment X 100
Project Investment= 200k
Project Benefit= 240k
(240k-200k)/200k= 0.2 X 100= 20%
Before X100: Should not be over 1.2 or 1.0 type number
Only after I multiply by 100 should I get percent not befor

Question 5

What are baselines and what is a Performance Measurement Baseline?

Answer 5

Is a tool used to measure and manage project performance.
* It integrates the project scope, schedule, and cost baselines into a single framework(Baseline) that allows comparison of planned performance against actual performance.
* The PMB serves as a reference point throughout the project lifecycle for tracking progress and identifying variances.

How is it Used?
* It’s used in Earned Value Management(EVM) to evaluate project performance and progress.
* Key Metrics to track performance: Planned Value(PV), Earned Value(EV), Actual Cost(AC) are calculated as project status.
* Variance Analysis: SV and CV
* Forecasting: PMB helps forecast project outcomes such as Estimate at Completion(EAC), and To complete Performance Index(TCPI)
* SH Comms: PMB provides clear and consistent framework for reporting project status to SHs.

Question 6

What is the Change Control Process?

1.

Answer 6

1. SH Raises CR
2. Analyze impact(scope, sched, cost)
3. Note impact analysis on change log.
4. Send CR to CCB- Approve, Reject, Deferred
5. Outcome communicated to Shs.

Question 7

What is the Stakeholder Mapping Influence/Impact & Power/Influence Grids? And When do we use them?

Answer 7

Influence/Impact: Identifies how much SH’s are affected by the project and how much influence they have on the project.

Power/Interest: Identifies Shs that have the ability to control project outcomes. Look to see how much interest they have on project success
* Who needs to be managed closely due to their contol over resources or decisions.

Question 8

slide8

What are the regions for the Influence/Impact & Power/Influence Grids?

Answer 8

Insert image and deets

Question 9

What is the Salience Model and it’s uses?

Answer 9

Assesses SH by Power, Urgency and Legitimacy.
* Power: Level of authority to influence project.
* Urgency: Need for immediate attention
* Legitimacy: Is their invovlement is appropriate

Good for gov contracts and frequently changing or complex relationships

Question 10

What are Sunk Costs?

Answer 10

Costs that have already been incurred, and there is no way to recover this cost.
Always equal to AC.
* They do not affect decision to go forward in project, that’s irrational decision making.
* Only take into account Cost to Complete and Future benefits of project completion

Sunken Cost Fallacy: If project past budget and only half way done. Should org consider money spent already on deciding to continue the project?
* No don’t consider sunken cost, will cause irrational decision making
* Only consider what’s the Cost to complete from here and future expected benefit of completing project.

Question 11

What are Opportunity costs between projects?

Answer 11

Opportunity Cost is loss of potential future return from 2nd best unselected project. Losing out on the returns of the 2nd best project not selected.
* It’s not the difference between projects. It’s the entire loss of return of that 2nd unselected project.
* What’s the Opportunity cost of choosing Project X over Project Y?
* Project X NPV=124K
* Project Y NPV= 179K
* Opp Cost=$179k(not the diff but the whole loss for 2nd unselected option.)

Question 12

What are the 3 P’s for the Role of a Servant Leader

Answer 12

Purpose: The team’s “Why”, their goal or reason for being here.

People: Encouraging an environment where everyone can contribute and succeed.
* Psychological safety.

Process: It doesn’t have to be perfect, look for results. When a cross functional team delivers finished value often and reflects on the product and the process, the team is agile.

Question 13

What are the responsibilities of a servant leader?

Answer 13

• Facilitate
• Grow the team
• Remove Impediments
• Pave the way for others to contribute: It’s not about me, it’s about “We”
• Value of a PM is not the position, but their ability to make everyone else better

Question 14

What is Laisezz Faire?

Answer 14

Hands off leadership/mgmt, trust team to make their own decisions, implement ideas, and determine project objectives.

Question 15

What is the purpose of a vision, where is it made, what’s the use?

Come back: Is there a difference btw team vision and project vision?

Answer 15

(Leadership SKills) Establishing a Vision: A vision keeps people pulling in the same direction. Developed collaboratively w/ the project team and SHs, a vision answers:
* Proj Purpose?
* Proj Benefits?
* What defines success?
* It is Clear, Concise and actionable.

Question 16

Self Regulation is apart of emotional intelligence. What does it include?

Answer 16

Self Regulation

Trustworthiness: Trustworthiness involves being honest and maintaining integrity.
* It’s a key part of self-regulation as it requires an individual to consistently align their actions with their values and ethical standards, even under pressure.

Conscientiousness: Conscientiousness involves being thorough, careful, and vigilant.
* It includes the capacity to manage one’s impulses and behave in a socially acceptable manner, which is a core aspect of self-regulation.

Adaptability

Innovation

Optimism is not a form of self regulation but of MOTIVATION(maintian pos

Question 17

What are elements of Self Management

Question 18

Insert image slide 12- Fill in Self Managent

What are the 4 areas of emotional Intelligence?

Answer 18

Self Awareness: Ability to recognize and understand own emotions, own goals, motivations, strengths, and weaknesses.

Self management

Social awareness: The ability to empathize, understanding and consider other peoples feelings. This includes the ability to read nonverbal cues and body language.

Social Skill: ability to manage relationships andbuild networks. It invovles the ability to influence, communicate clearly, manage conflict, and build bonds.

Motivation apart of Self management

Question 19

What is Self awareness for Emotional IQ?

Answer 19

Self Awareness: Ability to recognize and understand own emotions, own goals, motivations, strengths, and weaknesses.
* Emotional Self awareness: Understand own emotions their impact on your performance and relationships.
* Accurate Self awareness: Knowing your strengths and limitations, which allows you to be realistic and honest about your capability.
* Self Confidence: Having a strong sense of self worth and capabilities, which enables you to approach challenges with a positive mindset.

Question 20

What is Social Awareness for Emotional IQ?

Answer 20

Social awareness: The ability to empathize, understanding and consider other peoples feelings. This includes the ability to read nonverbal cues and body language.
* Empathy: Foundation to understanding motivations of others
* Organizational Awareness: Understanding the dynamics and power relationships within an org, and navigating them effectively
* Service Orientation: Anticipating, recognizing and meeting clients or stakeholders needs, ensuring their satisfaction.

Question 21

What is Social Skill for Emotional IQ?

Question 22

What is Relationship Management for Emotional IQ?

Answer 22

Relationship Management: Culmination of other dimensions of emotional intelligence. Concerned w/ managing groups of people, such as project teams, building social networks, finding common ground with various SHs, and building rapport.
* Inspirational Leadership: Inspiring and guiding individuals and groups, setting a vision and motivating others to achieve it.
* Developing others:
* Influence: Persuading others with effective tactics, fostering consensus, and gaining support.
* Change Catalyst: promoting and managing change, championing new initiatives and approaches.
* Conflict Management: Navigating and resolving disagreements, facilitating positive outcomes from conflicts.
* Building Bonds: Developing and mainting a network of relationships, building rapport and alliances.
* Teamwork and Collaboration: working well with others, promoting teamwork and sharing responsibilities
* Drive to Achieve/Motivation:

Question 23

What is Motivation in regards of Emotional IQ?

Answer 23

Motivation
* Drive to Achieve: Striving to improve or meet a standard of excellence, seeking to accomplish challenging goals.
* Commitment: Make decisions based on team core principles.
-Realize benefits of holistic participation.
-Sacrifice to fulfill company goal
- Search for opportunities to achieve team mission.
* Initiative: Being proactive and ready to act on opportunities, taking charge of situations.
* Optimism: Persistently pursuing goals despite obstacles and setbacks, maintaining a positive outlook.

Question 24

What does a portolio manage?

Answer 24

Projects, Programs, other portfolios, and OPERATIONS managed as a group to achieve strategic objectives.
* Don’t forget operations too

Question 25

What are the project closure Phase steps?

Answer 25

This is where we review our PM Plan to see that all work is comp, the project met objectives, and we can finalize all activities in project, phase, or contract.

We’ll also:
* Confirm Delivery of formal acceptance of any proj deliverables.
* Ensure costs are charged to the proj and project accounts are closed.
* Finalize any open claims.
* Final LL
* Archive proj info
* Transfer projec to Ops.
* Measure product benefits and SHs satisfaction.

Inputs
Proj Closure Process: Accepted Deliverables passed quality process. And signed by sponsor/customer.
Input: Procurement Documentation: To close out a contract, we’ll need proc docs.
* Might be info on contracts schedule, scope, qlty, cost, performance, along w/ contract change documentation, payment records, and inspections results.
*
Outputs: OPA Updates: Project or Phase Closure documents: Such as everything required in Final Report- Validation, sign off, closed contracts.

Question 26

What is considered formal acceptance during close project phase?

Answer 26

Formal acceptance might have:
* Signed Project Closure Report: Sponsor signs project closure report, indicating satisfied w/ deliverables and project objective have been met.
* Formal Acceptance letter: Official letter from sponsor, confirming project has been completed to their satisfaction and no further work needed
* Formal acceptance letter should be distributed to appropriate SHs and stored in project archives

Question 27

Come back and reverify this card answer Slide 16 3rd column

What is the output/result of CLose project process?

Answer 27

• Procurement Documentation: Collected and Filed, All bills Paid.
• Lessons Learned: Gathered, Archived, & Project Resources Released.
  Archive all project Information for future use, into Org Process Assets(OPA)- Send to OPA Repo for org->Maybe PMO Repo of OPAs
• Final Report: Provide Summary Project Performance, and whether objective met?

Question 28

Insert image slide 23

When in a phase do we review all work that happened prior to it?

Answer 28

End of phase

Question 29

Insert image slide 23

What are the functions of a phase gate?

Answer 29

Phase gates are essential for ensuring project control, quality, and alignment with objectives. By systematically reviewing key aspects of the project at each gate, project managers can make informed decisions about proceeding to the next phase, thereby increasing the likelihood of project success.

• Decision Points: Phase gates act as decision points where project stakeholders review the project’s progress and determine whether it should continue, be modified, or be terminated.
• Quality Control: They ensure that the deliverables of the current phase meet the required quality standards before moving to the next phase.
• Risk Management: Phase gates provide an opportunity to reassess risks and implement necessary mitigation strategies.
• Resource Allocation: They help in confirming that resources are being used effectively and make adjustments if necessary.
• Alignment: Phase gates ensure that the project is still aligned with business objectives and stakeholder expectations.

Key Reviews at Phase Gates

Scope Verification:
* Confirm that the project scope is well-defined and agreed upon.
* Verify that all deliverables for the phase have been completed and meet the acceptance criteria.

Schedule Review:
* Check that the project is on schedule.
* Review timelines for the next phase and update the project schedule as needed.

Budget Review:
* Ensure that the project is within the allocated budget.
* Re-evaluate cost estimates and funding requirements for the next phase.

Quality Assurance:
* Assess the quality of the deliverables to ensure they meet the specified standards.
* Review any quality audits or testing results.

Risk Assessment:
* Reassess the risk management plan.
* Identify new risks and review the status of existing risks.

Resource Evaluation:
* Confirm that the necessary resources (personnel, equipment, materials) are available for the next phase.
* Evaluate the performance of current resources and make adjustments if necessary.

Stakeholder Approval:
* Obtain formal approval from key stakeholders, including sponsors and clients.
* Review stakeholder feedback and ensure their requirements are being met.

Change Management:
* Review any change requests and ensure they have been properly evaluated and approved.
* Ensure that changes have been integrated into the project plan.

Lessons Learned:
* Document lessons learned during the current phase.
* Apply these lessons to improve processes and performance in subsequent phases.

Question 30

Insert image slide 23

What is the checklist at a phase gate review?

Answer 30

Example Checklist for a Phase Gate Review
1. Completion of Deliverables: Are all deliverables for the phase complete and approved?
2. Project Performance: Is the project on track in terms of time, cost, and scope?
3. Risk and Issue Management: Are all identified risks being managed effectively?
* Have any new risks or issues been identified and assessed?

4.Stakeholder Engagement: Are stakeholders satisfied with the progress and deliverables?
* Has stakeholder feedback been incorporated?

5.Readiness for Next Phase: Are the plans and resources for the next phase in place?
* Are there any outstanding actions or dependencies that need to be addressed?

6.Assumptions: Reviewed for accuracy and relevance
* Adjustments made based on project data

Key Takeaways
* Gate Reviews are checkpoints to evaluate project progress and make informed decisions about continuing, adjusting, or stopping a project.
* The Gate Keeper plays a critical role in ensuring an unbiased review, enhancing the likelihood of project success by reaffirming commitment and addressing issues early.
* Gate Outcomes provide a structured approach to decision-making, reducing risk and ensuring alignment with organizational goals.

Summary, Gate Reviews are essential for maintaining project control, managing risks, and ensuring alignment with organizational objectives. The Gate Keeper, being a neutral party, facilitates this process by conducting thorough and unbiased evaluations at each phase of the project.

Question 31

Insert image slide 23

What is the role of a phase gate Gate keeper?

Answer 31

• Neutral Party: The Gate Keeper should not be the project manager or the project sponsor to ensure neutrality.
• Objective Review: Ensures the project continues with a reaffirmed commitment to scope, resources, risks, and enterprise interests.
• Ideal Candidate: Could be a project manager supervisor or head of the Project/Program Management Office (PMO). This person should manage a portfolio of projects, be on par with resource providers and senior management, and understand good project management principles.
• Responsibilities: Chairs the Gate Review meeting, sets the agenda, invites participants, and ensures the review is conducted impartially.

Key Takeaways
* Gate Reviews are checkpoints to evaluate project progress and make informed decisions about continuing, adjusting, or stopping a project.
* The Gate Keeper plays a critical role in ensuring an unbiased review, enhancing the likelihood of project success by reaffirming commitment and addressing issues early.
* Gate Outcomes provide a structured approach to decision-making, reducing risk and ensuring alignment with organizational goals.

Summary, Gate Reviews are essential for maintaining project control, managing risks, and ensuring alignment with organizational objectives. The Gate Keeper, being a neutral party, facilitates this process by conducting thorough and unbiased evaluations at each phase of the project.

Question 32

What the the 3 possible outcomes of phase gate reviews?

Answer 32

Three Possible Outcomes:
1. Proceed: The project manager moves to the next phase.
2. Conditional Proceed: The project manager may proceed but must address or re-work some key open items.
3. Cancellation: The project is stopped for business or risk reasons.

• Organizational Risk Management: Limits organizational exposure to loss as the project advances into higher levels of commitment and investment.

Key Takeaways
* Gate Reviews are checkpoints to evaluate project progress and make informed decisions about continuing, adjusting, or stopping a project.
* The Gate Keeper plays a critical role in ensuring an unbiased review, enhancing the likelihood of project success by reaffirming commitment and addressing issues early.
* Gate Outcomes provide a structured approach to decision-making, reducing risk and ensuring alignment with organizational goals.

Summary, Gate Reviews are essential for maintaining project control, managing risks, and ensuring alignment with organizational objectives. The Gate Keeper, being a neutral party, facilitates this process by conducting thorough and unbiased evaluations at each phase of the project.

Question 33

What are the benefits for a PM using Phase gate reviews?

Answer 33

• Demonstration of Progress: Opportunity to show progress, any scope changes, and the plan for the next phase.
• Shared Decision Making: Ensures all Gate participants share the decision to proceed, mitigating the risk that the project manager alone faces blame for unforeseen issues.
• Organizational Commitment: Validates that the organization remains committed to the project, with all stakeholders agreeing on the next steps and investment.

Key Takeaways
* Gate Reviews are checkpoints to evaluate project progress and make informed decisions about continuing, adjusting, or stopping a project.
* The Gate Keeper plays a critical role in ensuring an unbiased review, enhancing the likelihood of project success by reaffirming commitment and addressing issues early.
* Gate Outcomes provide a structured approach to decision-making, reducing risk and ensuring alignment with organizational goals.

Summary, Gate Reviews are essential for maintaining project control, managing risks, and ensuring alignment with organizational objectives. The Gate Keeper, being a neutral party, facilitates this process by conducting thorough and unbiased evaluations at each phase of the project.

Question 34

What’s the difference between a VDO and PMO?

Answer 34

VDO: A value delivery office is for more adaptive approaches.
* Serves an enabling role(rather than oversight)
* Focuses on coaching and building capability
* Mentoring sponsors and POs to be more effective

PMO: Has more oversight and controls projects, tells PM what to do and what they’re working on and how to do the work.

Question 35

Which org structure gives you the most control as PM?
a. Matrix
b. Composite
c. Strong
d. PMO

Answer 35

PMO
If I see PMO- That means Project oriented

Question 36

What is a Composite Org Structure?

Answer 36

Blend of two or more models(blend of func, projectized, matrix orgs)

Question 37

What are characteristics of a Functional Org Structure?

Answer 37

• Staff are grouped by specialty or function (e.g., finance, marketing, etc.).
• Project managers have limited authority.
• Employees report to a functional manager.

Question 38

What are characteristics of a Matrix Org Structure?

Answer 38

Matrix: There is a blend of functional and projectized characteristics.
* Employees report to both functional managers and project managers.
* There are three types of matrix structures: weak, balanced, and strong.
* Weak Matrix: Closer to functional, with project managers having limited authority.
* Balanced Matrix: Project managers and functional managers share authority.
* NOT MEDIUM MATRIX but BALANCED!
* Strong Matrix: Closer to projectized, with project managers having more authority.

Question 39

What is the middle term for a matrix org called?
Weak, ___ , Strong

Answer 39

Balanced

Question 40

What are characteristics of a Project Oriented org Structure?

Answer 40

• Project managers have full authority over the project.
• Staff are dedicated to the project.
• Project managers report directly to higher management.

Question 41

What’s the difference between EAC and Regresion Analysis for Forecasting?

Answer 41

Forecasting costs techniques
EAC: Estimated at completion new budget based on current cost performance(updated BAC)

Regression Analysis: Trend line on a scatter plot that looks for trend between 2 variables
* Control Schedule: Can look at performance see if it is improving or getting worse. Graphically draw trend to predict where it will be in future

Question 42

What is the purpose of the steering committee?

Answer 42

??

Question 43

Come back later

What is the Benefits Management Plan?
(Memorize what’s in it and how it interacts throughout the project.

Question 44

What is VA and NVA? What area is this for? (Continuous improvement LEan?

Answer 44

Value Add or non value add activities

Question 45

Insert image slide 28

Which plan has a preliminary SH list

Understand the needs part memorize how it connects.

Answer 45

Communications MP.

EX2.Q.54
* Has all Shs and their comm needs, and how info will be communicated to them.

Answer CGPT:
* The SH Register and Comms MP are complimentary
* The Comms Plan provides high level SH info requirements and information to be communicated, and reason for distribution of that information and more.
* Comms plan references SH Register for more detailed information on SHs.

Ex of Comms MP: SH Analysis Section
* The SH register is part of the SH Engagement plan not comms MP
* SH Register is output of SH Engagement plan
* The SH ID, Analysis, and management is part of SH Engagement plan

Question 46

CGPT image of sample Comms MP and SH Register.

What is the difference between the SH info in the Communications Management Plan and the Stakeholder Register?

Answer 46

• SH Info: Comm MP references SHR for detailed info for each SH.
• Does not contain a full list of SHs w/ same level of detail as SHR. but outlines Comm requirements for each SH or SH group.
  
  • Part of SH Engagement plan not comms plan(ID, analyze, management of SHS)
• Integrated approach: CommMP leverages SHR to ensure comms are tailored to meed the needs and preferences of each SH.
  
  • Specifies how often and through which channels each SH or SH group will receive updates and other comms.

Question 47

How do you create a Communications Management Plan?

Answer 47

Creating Comms MP:
1. Use SHR to ID Shs
* Determine comm needs for each SH based on their roles, influence, and impact on project.
* Develop Comm strategies and plans accordingly

2.Updating and Referencing
* When communicating w/ SHs, refer to Comms MP to ensure you follow the agreed upon methods and schedules
* Use SHR to retrieve details about each SH if needed.

Example Scenario: When you need to communicate the release to SHs
* Review the Comm MP: To understand the general comm strategy, channels, frequency, and responsible persons.
* Cross Reference w/ the SH Register: If you need specific details about SHs, such as updated contact info or to verify roles.

Question 48

What does the Comms MP consist of?

Answer 48

Outlines comm strategies and plans for project detailing how info will be distributed to SHs.
Contents:
* Comms objectives
* Info to be communicated(content)
* Who will receive the info(audience)
* How info communicated(methods/channels)
* Freq of comms(timing/sched)
* Person responsible for delivering comms(sender)
* Feedback mechanism and procedures for managing comm

Question 49

What does the SH Register consist of?

Answer 49

Detailed list Shs in project provides info on them, interests, influence, and impact on proj.

Question 50

What is a leading Indicator?

Answer 50

Are metrics that predict future performance/trends/changes or outcomes can be used to make proactive adjustments.

Leading indicators(quantifiable): Size of project, number of items in progress in BL
* Sprint Burndown Rate- Measure rate at which work being completed in a sprint. If burndown slower than expected, it may indicate potential delays.
* Number of open issues: Count of unresolved issues or bugs. Increasing number of open issues can be sign of potential quality problems ahead.
* Team Velocity: Amount of work that can be done in a sprint. Velocity decreasing, can indicate team burnout or inefficiencies.
* Employee Engagement Levels: Measured through surveys/feedback. High engagement leads to better productivity and project outcomes
* Scope Change Requests: Number and frequency of scope CRs. High number of CR’s can indicate scope creep, can lead to delays and increased costs.
* Resources availability: Lack of resources indicate upcoming project bottlenecks.
* Completion of Milestones: Tracking whether milestones being completed on time. Delays to Milestones can predict future schedule slippage.
* Customer Feedback: Early feedback form customers or SHs about deliverable. Negative feedback can indicate future dissatisfaction or rework.

Lead Ind (harder to quantify): but provide early warning signs of problems: Lack of risk management processes, SHs who are not available or engaged, poorly defined project success criteria

Clarify last summ with bullets above.

Question 51

What is a Lagging Indicator?

Answer 51

Lagging Indicators: Metrics for past performance and outcomes. Measure project deliverable or events. Help assess whether project goals have been met.
* Examples include: number of deliverables completed, sched/cost variances, amount resources consumed.
* Project completion time: Actual time taken to complete project compared to planned schedule.
* Budget Variance: Diff between planned budget and actual expidenture. Indicates if project stayed w/in budget.
* Number of Defects: Total number of defects or issues found after delivery. Reflects the quality of the project deliverables.
* Customer Satisfaction: Measured through surveys or Net Promoter Score(NPS) after project completion. Indicates overall satisfaction w/ the project outcome.
* Return on Investment: Financial gain or loss generate by project compared to cost.
* Scope Achievement: Extent scope completed vs planned measures. How well project met og objectives.

Question 52

What are examples of Leading Indicators?

Answer 52

Indicator of future performance.
* Items in Backlog: Lot of them size of the project to big.
* Size of project
* Lack of progress
* SHs not involved

Question 53

What are examples of Lagging Indicators?

Answer 53

• Deliverables completed
• Schedule or cost variance
• Resources consumed

Question 54

Slide 30 col 1

What are the different types of surveys give to customer or the team called, know the different.
What is NPS?

Answer 54

NPS: Measures customers willingness to recommend product/service to others. Gauges customers overall satisfaction w/ orgs prod/serv and customer loyalty
Memorize NPS means Net Promoter score, didn’t know what acronym meant on exam

Question 55

Double check B? aSK cgpt

Known costs of project Changes and managing change vs Indirect Costs at activity level, if they are included in project estimate

Which costs are included in a project estimate? (select 2)
a. Indirect Costs
b. Direct Costs
c. Cost of Change
d. Reserves

Answer 55

A and B?(double check B)

Known costs of project Changes and managing change vs Indirect Costs at activity level, if they are included in project estimate

• Indirect Costs at activity level: indirect costs like overhead, admin costs, other supporting activities can be included in proj estimate if they attribute to project activities.
  
  • These costs are part of total project cost and should be considered when estimating budget.
• Direct Costs: Expenses linked directly to the creation or delivery of project outputs. Cost incurred as direct consequences of project activities and deliverables.
• Cost of change(qlty issues) can’t be predicted(Can’t Estimate) for we won’t know until it happens later. Assuming the cost of changes in Proj BL would distort our project baseline and make it hard to measure performance and progress of the project.
  
  • So we use it as a reference point.
• Reserves: Later in CMP, we can compare changes added to original BL.Reserves are just buffers. They don’t target specific changes, we can’t know

Question 56

Simplify summary answer

What does the Develop Team Process do and what process group is it in?

Answer 56

Process Group: Develop Team(Resource Mgmt)
* Help team grow and improve and help work together more effectively.
* Main Output: Team Performance Assessments, take these and use our leadership skills and help serve our team to grow, improving trust making jobs easier.
* TT: Individual and Team Assessments- Tools can give us insights into our teams areas of strengths and weaknesses
* Attitudinal Surveys: are the happy and engaged in project, do they want to work w/ us?
* Specific Assessments(ex:agile): How well do they know agile?
* Structured Interviews
* Ability Tests: For BA, or Developer, Or Tester?
* Focus Groups on team capability.
* Output: Team Performance Assessments- As we make efforts to develop team through training, team building, co-location we might also want to see if it is working or not. Can make formal/informal assessment of project teams’ effectiveness including checking things like:
* Improvement in project skills
* Improvement in competencies or disciplines as a team
* Reduced staff turnover rate
* Increased team cohesiveness – open sharing of info.

Question 57

What process group is Acquire Resources in and what does it do?

Answer 57

Process: Acquiring Resources: Gathering and assigning both team resources and other material resources required to complete project.
* Main Outputs: Physical Team(assignments) and Physical Resource Assignments, and Resource Calendar to see availability
* Physical Resource Assignments: We want to document the physical resources we are allocating to the project. Might include:
* Materials
* Equipment
* Supplies
* Locations
* And Other physical resources that will be used during the project.
* Project Team Assignments: Want to document team members, and their roles and responsibilities for the project we need.
* This could be project team directory or names inserted into the project management plan
* Ex: Project org charts or scheduled activities, resource breakdown structure.
* Resource Calendars: Now we know the resources we need and are acquiring them for our project, we can make the resource calendar now.
* Resource Calendar: ID’s the working days, shifts, start, and end of normal biz hours, weekends, and public holidays when each specific resource is available.
* This will help us figure out who can work on which activity.

Question 58

Insert Image: SLide 33

What is a Decision Tree and it’s elements?

Answer 58

Decision Tree: used to support selection of best of several alt courses of action.
* Alt paths through the project are shown in the decision tree using branches representing diff decisions or events, each of which can have associated costs and related individual project risks(both threats and Opps)
* Risk: Has the Prob and impact associated w/ that choice.
* The end-points of dec tree rep the outcome from following that path, can be pos/neg
* The dec-tree is evaluated by calculating expected monetary value of each branch(quant anal), allowing the optimal path to be selected.

Question 59

What is a repetitive product, service, or result?

Answer 59

Operations: Ongoing activities that produce repetitive products, serv, results.
* Don’t have defined end, ongoing activities.
* Repetitive: Output of operations is repetitive and consistent. Same products, serv, results produced regularly in predictable manner.
* Efficiency focused: Ops aims to maintain and improve efficiency of current processes to produce same output at lower costs w/ higher quality.
* Stable Process: Consistent outcomes.
* Examples of Operations:
* Manufacturing: Production line produces same parts daily
* IT Services: managing IT support services handle routine helpdesk queries and tech issues.
* Customer Services: operating call center handle customer inquiries and complaints regularly.
* Accounting: Routine financial operations like payroll, billing, tax filing.

Question 60

What 2 things decrease over time in a project Lifecycle?

Answer 60

• SH Influence: High at beginning due to needd for input and decision making.
  
  • Decrease over time as project scope and plans are set, and execution underway.
• Risk Levels: High at beginning due to uncertainty and many unknowns.
  
  • Decreases as uncertainties are resolved, risk are mitigated, and project progresses towards completion

Question 61

https://www.tacticalprojectmanager.com/finish-to-finish-dependency/

What are the 4 types of Dependencies?

Answer 61

Mandatory: Contractually required inherint to project work. Not Modifiable.
Discretionary: guideline/best practice, modifiable
Internal: Relationship btw project activity and non project activities. CAN be modified
External: Relationship btw project activity and non project activities. Cannot be modivied

Question 62

What is the sequence of activities planning: Define activity

Question 63

what are the 2 formulas for 3 point estimating
1. Triangular Estimating
2. Beta (pert avg) Distribution

Answer 63

1. Triangualr: E=(O+M+P)/3
2. Beta (Pert avg) Distribution: E=(O + 4M + P)/6

Question 64

What is a basis of Estimate?

Answer 64

To help support our estimate we document how we came up with our estimates.
Basis of estimate
* Assumptions made
* Range of estimates
* Any constraints
* Confidence level in the estimate
* Assoc risks.

Question 65

What techniques are used to develop the Schedule?

Answer 65

Overarching tech used to create the project schedule model we’ll use: Critical Path Method, Resource Optimization, Modeling Techs
* Critical Path Method:
* Critical Path: Sequence of activities which determine the shortest possible project duration.
* CP Method: used to calculate this, using the amount of free float(for an activity) and total float(total schedule flexibility) on diff paths.
* Calc Float: w/ Forward and Backward Pass
* Float: Difference btw Late Start and Early Start. CP= zero float
* Resource Optimization: Resource Leveling and Smoothing
* Leads and Lags
* Sched Compression

Question 66

What are the steps of Project Knowledge management?

Answer 66

Plan Knowledge Management:
1. Identify knowledge needs and gaps.
* Determine the methods and tools for capturing and sharing knowledge.

2. Collect Knowledge: Gather both tacit (personal experience) and explicit (documented) knowledge from project activities and stakeholders.
3. Share Knowledge: Facilitate the sharing of knowledge through formal and informal interactions, documentation, and presentations.
4. Apply Knowledge: Use the gathered knowledge to make informed decisions, solve problems, and improve project performance.
   C5. reate New Knowledge: Encourage innovation and the creation of new knowledge through collaboration and reflection.
5. Store Knowledge: Store knowledge in a way that it can be easily accessed and retrieved for future use.

Question 67

What is the purpose of Knowledge Management ?

Answer 67

Knowledge management is concerned w/ managing tacit and explicit knowledge
* For 2 purposes:
* Reusing existing knowledge and creating new knowledge
* Key Activities use both: Knowledge Sharing and Knowledge Integration(of knowledge from different domains, contextual knowledge, and proj mgmt knowledge)
* Common Misconceptions
* Managing knowledge involves only documenting it so it can be shared.
* Managing knowledge involves just obtaining lessons learned at end of project in order to use for future projects
* Only Explicit knowledge can be shared this way.
* But codified explicit knowledge lacks context and is open to different interpretations,
* Even though it can be easily charred, it’s not always understood and applied correctly.

Question 68

Slide 43 EV formula cards

Question 69

What is Benchmarking?

Answer 69

Comparison of actual or planned products, processeses, and practices or projects qlty standards to those of comparable orgs or projects , to identify:
* Best practices
* Performance gaps
* And Generate ideas for improvement(from gaps)
* And provides a basis for measuring performance.

Benchmarked projects may exist within the performing org or outside of it.
* Or can be within the same application area
Benchmarking allows analogies to be made for projects in different application areas or different industries.

• Purpose: ID areas of improvement(Find gaps), set performance goals, and implement best practices

Benchmark steps
1. ID subject of BM
2. Select Benchmark partners(org or processes to compare against)
3. Collect data on the identified metrics.
4. Analyze the data to ID gaps and Opps
5. Implement changes to improve performance
6. Monitor results and repeat the process as needed.

Do Benchmarking w/ similar non-competitive company, add process improvements
My issue, not a competitive company.
CGPT: Reasons why non-competitive better than competitive
1. Collaborative and Openness: Non comp orgs more likely to share their processes and strategies. Direct competitor may not be able to share because of confidentiality.
2. Industry Best Practices:Benchmarking a similar org w/in same industry can reveal industry best practices that are relevant to your ops. These practices can be adopted to improve efficiency, reduce costs , and enhance profitability.
3. Innovation and Improvement: Learning from these orgs can inspire new ways of thinking, problem solving.
4. Avoid Conflict of Interest: Benchmarking against competitors can raise ethical concerns and potential conflicts of interest.

Better to benchmark against on the market products if immediate solution needed.
If just want long term strategy, no immediate solution needed, can do benchmark on competitor products for future production.

Question 70

What makes a good Project Management Servant Leader?

Answer 70

• Empowers the Team: Encourages team involvement in decision-making, fostering ownership and accountability.
• Promotes Collaboration: Builds a cooperative environment where team members work together to achieve project goals.
• Practices Transparency: Openly communicates goals, constraints, and challenges, building trust within the team.
• Focuses on Development: Prioritizes the growth and development of team members, providing opportunities for learning and advancement.
• Listens Actively: Values and considers the input of all team members, ensuring everyone’s voice is heard and respected.

Question 71

What is Tendering in project management?

Answer 71

Bid process= Tender process
The process of where a buyer** Solicits bids** from selected sellers.
Terms such as bid, tender, or quotation used when seller selection based on price.
* Aka Bid process: invite sellers, vendor submits bid, evaluate bids, award contract,
1. Tender/Procurement.SOW Preparation: Translate project requirements into a detailed tender/SOW document, including specifications, evaluation criteria, and terms of the contract.
2. Invitation to Tender: Issue tender/bid publicly or to selected bidders. providing them with tender document.
2. Submission of Bids: Bidders submit proposals with pricing, timelines, technical solution. On how they will meet the requirements
3. Evaluation of Bids: Assess bids based on cost, capability, compliance.
4. Awarding the Contract: Select and formalize agreement with the best bidder.
5. Contract Management: Monitor project delivery as per contract terms.

process where an organization, called the buyer, invites other parties, called suppliers, to submit bids or proposals to provide goods or services.

Question 72

What’s the difference between Tendering and Procurement?

Answer 72

Tender:
* A process within procurement where bids are invited from potential contractors or suppliers.
* Focuses on obtaining the best offer from competing bidders.
* Involves steps like tender(Bid) preparation, bid submission, evaluation, and contract awarding.

Procurement:
* The overall process of acquiring goods, services, or works from external sources.
* Includes planning, sourcing, contracting, managing, and closing contracts.
* Tendering is just one part of procurement, alongside other methods like direct purchasing and negotiations.

Question 73

Does the procurement management plan have specifics about procurement SOW of a specific procurement?

Answer 73

No. Because it is the overarching plan of how procurement will be managed in a project. Not specific to a particular procurment scope in a bid document, that bidders respond to.

Procurement SOW is pulled from the scope of the project and shows what work is planned to be handed off to a vendor.

Question 74

When a Change is request by a SH or a Change is being discussed. Do you update the Change log or Issue log first?

Answer 74

You do NOT update Issue Log.
You update the Change log first.

Question 75

What is the difference between Creating/Writing a CR and Documenting a CR?

Answer 75

• Creating/Writing a Change Request: This means formally submitting a proposed change to the CCB or your Sponsor in form of a 1-Pager AFTER the impact analysis is done
• Documenting a Change Request: This is the first step when a change is verbally proposed by a stakeholder. Generally, this means updating your ‘change log’ document with this change as a ‘new request’.

Question 76

What is Creating/Writing a CR?

Answer 76

Formally submitting a proposed change to the CCB or your Sponsor in form of a 1-Pager AFTER the impact analysis is done.

Question 77

What is “Documenting” a CR?

Answer 77

This is the first step when a change is verbally proposed by a stakeholder. Generally, this means updating your ‘change log’ document with this change as a ‘new request’

Question 78

If you recieved a change was verbally communicated to you. What does documenting this change in the change log do to the change control or configuration control systems?

Answer 78

Documenting a change(Change log), in itself updates the change/config management systems.
The change log is directly tied into them.

Then you can move on to next ICC steps: Impact analysis->CCB Review

Question 79

Project in Project Charterin development stage.
What is the economic feasibility report of a project which establish the validity of the benefits incurred from project?
a. Project Charter
b. Business case
c. Requirements document
d. Benefits MP

Answer 79

Ans: Business Case
* PC Starts w/ Needs Assessment(why we need to do project)
* Feeds into Business Case: Financial Why of project
* Benefits MP: Lives in business case. And is the plan to realize the benefits we expect from project.
Wrong: Benefits MP

Question 80

What is an economic feasibility Report if a SH asks? and you are in Project chartering stage?

Answer 80

Needs assessment used to make the business case.
* Benefits MP also lives in Business case, part of biz docs.

Question 81

Which processes are the following plans made:
1. Requirements MP
2. Change MP
3. Config MP

Answer 81

1. Requirements MP: Scope MP- Plan Scope Management
2. Change MP: Develop Project MP
3. Config MP: Develop Project MP

Question 82

What is a “Functional” Organization

Answer 82

Functional org: Hierarchicle structured org, that seperates specialized team that are good at only one thing. They work in silos and report to 1 superior.
* NGC EX: Team 1: Automation, Team 2: Manf.Engineering, Team 3: Business Group, Team 4: Facilities.
* Each Team Has 1 clear superior.(Beck, omid)
* Everyone reports to someone.
* PM: is coordinator part time. No Power
* Owned: Functional manager.

Pros: stable org structure.

Question 83

Lessons Learned Register captures project information when?
A. After project done
B. Throughout Project
C. After each phase of project life cycle
D. At beginning of project

Answer 83

B. throughout Project
Best to capture lessons as you address issues and improvments promptly
* More granular in timeframe than just waiting until phase over.

Question 84

What is Rolling Wave Planning and how does it differ from regular a regular Plan Driven Approach?

Answer 84

Rolling Wave Planning: Plans work to be done in the short term first, and plans longer time frame work later.
* starts like most projects with a WBS, work packages, planning packages which are aligned with the scope.
* the only Difference is the work packages and WBS are only filled up to the PMs current knowledge.
* Agile and Predictive projects

Plan Driven Approach: Regular sequential steps in predictive project, where each new phase begins after previous stage is done.

Question 85

What’s the difference between Rolling Wave Planning and Progressive Elaboration?

Answer 85

Both aspects of iteration planning style.

Progressive Elaboration: Continuously improving and detailng plan as more specifics becomes available over time.

Rolling Wave: Plan short term work in detail, and future term work at high level.
* Technique in Define Activities process. Ensures** detailed planning done for work packages** to be delivered in near term while only high level planning(planning package) to be delivered later.
* Starts with WBS, work packages, planning packages that are filled up to PMs best knowledge.
* As project progresses and requirements become clearer , more detailed planning next work package then delivering it.

Note: Agile has the rolling wave planning technique baked into it. So we can say that Predictive projects can use agile techs like rolling wave planning.
* Agile use: The idea is plan an iteration in detail, deliver it and move to the next iteration.
* Pred Use: Plan in detail deliver work package instead then moving onto planning next work package then delivering it.

Question 87

Life Cycle Pmbok p 33 2.3.2

What is a projects with multiples deliveries? Give examples

Answer 87

A project may have multiple components that are delivered at different times throughout project.
* Ex: Project to deliver new drug. This is a sequential example
* Phase 1: Preclinical Trial
* Phase 2: Trial Result
* Phase 3: Trial Results, Registration, and launch.

Non Sequential example where deliveries developed seperately with multiple deliveries
* Ex: Project- Update Building Security
* Physical barriers to entry
* new badges
* new key code pads etc..
* Each is a seperate delivery, but don’t need to come in specific order.

Question 88

What are the Life Cycle phases?

Answer 88

Feasibility: Phase determines if biz case is valid and if org has capability to deliver the intended outcome.
Design: Planning and analysis lead to the design of project deliverable that will be developed.
Build: Construction of deliverable with integrated QA activities is conducted.
Test: Final quality review and inspection of deliverables are carried out before transition, go-live, or acceptance by customer.
Deploy: Project deliverables are put into use and transitional activities required for sustainment, benefits realization, and org change mangement are completed.
Close: Project is closed, project knowledge and artifacts archived, project team members are released, and contracts are closed.

Question 89

What are the 5 types of Conflict Management

Answer 89

Smooth/Accommodate
* Emphasize areas of agreement- to maintain relationships, but not address issue.
* Concede position to maintain harmony and relationships
* Useful when reaching overarching goal is more important than the disagreement. used when theirs a difference in the relative authority or power of the individuals.
* ex: Appropriate when there is a disagreement with the sponsor. Since sponsor outranks PM, then there desire to maintain a good relationships with sponsor, adopting and accommodating posture may be appropriate.

Withdraw/Avoid
* Retreat from the situation
* Postpone the issue

Collaborate/Problem Solve
* Incorporate multiple viewpoints
* Enable cooperative attitudes and open dialogue to reach consensus and commitment

Force/Direct
* Pursue your viewpoint at the expense of others
* Offer only win/lose solutions

Compromise/Reconcile
* Search for solutions that partially satisfy everyone
* Compromise to temporarily or partially resolve the conflict

Question 90

Conflict management
What is the difference between Smooth/Accomodate and Compromise/Reconcile.

Answer 90

Smooth/Accommodate
* Emphasize areas of agreement- to maintain relationships, but not address issue.
* Concede position to maintain harmony and relationships

Compromise/Reconcile
* Search for solutions that partially satisfy everyone
* Compromise to temporarily or partially resolve the conflict

Question 91

Whats Mcgregors X and Y theory?

Answer 91

Theory X: Where the team is lazy/unmotivated, will avoid work if they can and has little motivation. Needs a more authoritarian style of mgmt, hands on to ensure the work is done.
* Require external control and incentives($) to perform their job.
* Offering pay raise for motivation is Theory X.
*
Theory Y: The team believes and takes pride in their work and sees their work as a challenge. Individual motivated, creative and self driven.
* Pay raise doesn’t align w/ THeory Y
* Motivation comes from the work itself and the opportunity for self direction.
Uses an inclusive and participative management style, trusting the team to take ownership of the work.
Coach team instead of micromanaging(agile)

Question 92

Activity Relationships difference between Dependencies?

Answer 92

Relationships: Btw 2 activites F-F, S-F, S-S, F-S, S-F

Dependencies: Dependency between activities, some can be fast tracked, others cannot.
* dependency modififiable or not?
* Internal, External, Mandatory, Discretionary

Question 93

What is Parametric Estimating and how is it different from Analagous Estimating?

Answer 93

• Parametric Estimating: Uses statistical relationships between historical data and Variables/proj.parameters to calculate estimates, often invovling mathematical formulas
  
  • Key Is Parameters + historical data
• Analogous Estimating: Uses historical data from similar projects to estimate the duration or cost of a current project.

Difference: Analagous just historical data. Parametric is Historical + variable.

Question 94

What’s the difference between a Customer and an End User define them.

Answer 94

• Customers: They are the individuals or organizations purchasing the product or service. They have a vested interest in the outcome, and their requirements often shape project goals and deliverables.
• End Users: These are the people who will **directly interact with and use the product **or service.
  • Their needs and feedback are crucial for ensuring the product meets its intended purpose.

Question 95

D1T6 Build a team

What is a structured Interview?

Answer 95

Pre-Assignment Tools: Assess candidates before assigning and confirming team roles. Helps immensely by giving you a baseline and will enable you to provide direction to your appraisal meetings.
* Structured Interviews: Interviews conducted with a **standardized set of questions and a predetermined format to ensure consistency and comparability in evaluating candidates or gathering information.**

Question 96

D1T6 Build a team

What are team norms and when are they created?

Answer 96

Team Norms: **Ground rules **are set at the onset during team chartering formation, and you, as a PM, should always drive discipline to adhere to that during entire project.
* Whenever conflict happens between team members, always go back to the team norms to find best way to resolve conflicts
* Establish expected team behaviors at the beginning of the project.
* Enable teams to handle challenges as the project progresses.
* Include guidelines and techniques for:
* Meetings
* Communications
* Conflict management
* Shared values
* Decision-making
* Aligns with the PMI Ethics and Code of Conduct

Question 97

Which meeting is for aligning Shs on common objectives and deliverables?

Question 98

What are the steps in Stakeholder Engagement Plan Processes and what are the micro steps for stakeholders included.

Answer 98

1. ID SH(init): ID all relevant SHs
   a. ID SHs: Identify all shs using interviews, org charts etc, gather their needs and expectations.
   b. Assess Shs: Power/Influence, Directions of influence(What Shs have influence on others to leverage), Salience Model
   * Output: SH Register: has SH data including Power/Influence.

2.Plan SH Engagement: Strategy on how you’ll engage these stakeholder.
* TT: Stakeholder Engagement Matrix: Track enagement. Created during planning.

3.Manage Sh Engagement(execute): Engage Shs through project maintian good relationships and their their expectations met.

4.Monitor SH Engagement(M&C): Monitor SH engagement levels, making sure they are at desired levels, and readjust engagement strategy if they are not at desired level.

Question 99

What is a Resource Breakdown Structure(RBS)?

Answer 99

A hierarchical chart that breaks down the project’s resources into categories such as labor, materials, and equipment. It gives the sponsor a clear view of early resource estimates, which include types, quantities, and allocation of resources. Sharing a draft of the RBS directly addresses the sponsor’s request and provides the most relevant information at this stage.

Question 100

What’s the difference between WBS and RBS?

Answer 100

WBS: Hierarchical breakdown of decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables.

RBS: a document that outlines the project’s resources, including the types of resources, the quantities of resources, and the costs of resources

Question 101

What is Achievement Theory?

Answer 101

Part of McClellands Motivation Theory:
which has 3 Motivation Factors
- Achievement: Desire to accomplish challenging goals. Explains why certain individuals are more motivated to achieve than others
- Affiliation: Desire for social relationships.
- Power: Desire for influence.

Con: Doesn’t focus on external rewards(like financial compensation or vacation time). Emphasizes more on internal drives for success.

Question 102

What is Expectancy Theory?

Answer 102

Expectancy Theory: explains motivation through belief in the reward system.
3 Factors include:
1. Expectancy: They believe they can complete the task (expectancy).
2. Instrumentality: They trust they will receive the reward (instrumentality).
3. Valence: They value the reward being offered (valence).

Question 103

What is Contingency Theory?

Answer 103

• Emphasizes the importance of both the leader’s personality and the** situation in which that leader operates.**
• Emphasizes situational leadership.
• In the context of leadership and motivation, suggests that there is no one-size-fits-all approach.
• Success of a leader depends on how well their style fits the situation at hand.
• Factors such as:
  
  • The leader’s relationship with the team
  • Task structure
  • Positional power influence outcomes.
• This theory is more focused on leadership style and decision-making rather than individual or team motivation.
• In the scenario, the emphasis is on motivating the team with rewards, not on adapting leadership styles to the situation,

Question 104

What’s the difference between Develop Team and Manage Team Processes?

Answer 104

Key Differences:
Objective:
* Develop Team focuses on improving the skills and collaboration of the team to enhance performance.
* Manage Team focuses on monitoring and correcting team performance through feedback, conflict resolution, and behavioral management.

Emphasis:
* Develop Team emphasizes building the team’s competence, trust, and relationships.
* Manage Team emphasizes managing the performance and behavior of team members.

Timing:
* Develop Team is ongoing throughout the project and focused on growth and development.
* Manage Team is more reactive and focused on managing day-to-day interactions, performance issues, and conflict resolution.

• Both processes work together to ensure that the team is not only capable but also aligned, motivated, and performing effectively to meet the project’s goals.

Question 105

What are some checklist items to consider whether you should terminate a project?

Answer 105

• Performance Metrics
  
  • CPI < 1.0 / SPI < 1.0: If both are significantly low with no recovery plan, consider termination.
  • Trend Analysis: Worsening CPI/SPI over time signals deeper issues.
• Budget and Financials
  
  • 70%+ Budget Spent: With poor results and no clear path to completion, termination may be needed.
  • Additional Funding: If more funds are required but not available, consider stopping.
• Scope and Requirements
  
  • Scope Creep / Major Changes: If constant changes are overwhelming, closing the project may be best.
  • Shifting Requirements: If requirements are unclear or keep changing, the project may lose direction.
• Stakeholder Engagement
  
  • Disengaged Stakeholders: If key players lose confidence, it’s a strong sign the project should end.
  • Lack of Sponsorship: Without sponsor support, the project may not survive.
• Strategic Alignment
  
  • Lost Alignment: If the project no longer fits organizational goals, stopping it makes sense.
  • Irrelevance: Projects that no longer serve current business needs should be reconsidered.
• Risk Management
  
  • Unmanageable Risks: Significant risks that can’t be mitigated may justify closing the project.
  • High Risk of Continuing: If the costs of continuing outweigh the benefits, consider termination.
• Team Performance
  
  • Ineffective Team: If the team is underperforming or morale is low with no recovery in sight, closing the project may be necessary.
• Deliverables and Quality
  
  • Poor Quality: If the deliverables are consistently below standard with no improvement, reconsider continuing.
  • Customer Dissatisfaction: Persistent unhappiness from users can signal the project’s end.
• External Conditions
  
  • Market Changes: External shifts making the project redundant or unfeasible could require closure.
• Opportunity Cost
  
  • Higher Value Projects: If resources would be better used elsewhere, ending the current project may be beneficial.
• Legal Issues
  
  • Compliance Problems: Legal or regulatory challenges that can’t be easily addressed may force closure.
• No Clear Path to Recovery
  
  • Infeasible Recovery: If recovery isn’t realistic, it’s likely time to terminate.

Question 106

Difference between Milstones in project charte(initiation) and Schedule management Processes Milestone list?

Answer 106

Project Charter Milestones: Summary High level milestones
Project Schedule Management: Milestone Chart output from Develop Schedule

Milestones List: Identifying all project milestones and indicates whether the milestone is mandatory, such as those required by contract or optional or those based on historical information.
* Maybe have scheduled dates for specific milestones, which may influence the way activities are sequenced.

Question 107

What is the Delphi Tehcnique?

Answer 107

A structured, interactive forecasting and** decision-making method** that relies on a group of experts to achieve consensus.
* It’s widely used in project management, particularly in areas like risk identification, estimating, and strategic planning.