Integration Management Review Flashcards
What best describes the aim of Integration Management?
Putting all Pieces of a project into a cohesive whole
Is the project charter created during planning and executing process groups?
No, it is developed in the initiating stage
You are working as a project manager in a software company. Which of the following can be a measurable project objective?
A) Delivering a good software application
B) Having an application which will have nice screens
C) Completing project in 6 months, with a 500.000 USD budget
D) Delivering an application with very few defects
C) Completing project in 6 months, with a 500.000 USD budget
Benefits of project charter:
- Links project to ongoing work of the organization
- Having a charter eliminates the necessity of a detailed project plan
- High-level requirements of the project are defined
You are working as a project manager in a smart phone manufacturer. During your meetings with your customer, you have noted the following:
a. Smart phone must have a 8 MP camera
b. Smart phone must support Wi-Fi and 3G
c. Smart phone must not be heavier than 60 grams
These are examples of:
Stakeholder Requirements
During creation of your project charter, you mentioned that “Kelly Watson will be the leader of the project, and she has the authority to send executive progress reports and manage the project budget”.
This defines:
Project Manager Assigned and Authority Level
You are working as a project manager in a construction company. In your new project, a new hotel is built nearby a lake. Who are the stakeholders of this project?
A) Resident living close to lake
B) Civil engineer working in the project
C) Owner and sponsor of the project
D) All of the above
D) All of the above
An Economic Model for project selection:
- Present Value
- Internal Rate of Return
- Payback Period
You have just started to your project. Customer made the initial payment, 50 USD after you started to your project and there will be two more 50 USD installments at the end of 1st and 2nd year respectively. If your company uses present value as project selection method and if yearly interest rate is 10%, which of the following is true?
A) Present value of the total project is less than 150.000 USD
B) Present value of the total project is 150.000 USD
C) Present value of the total project is more than 150.000 USD
D) Present value of the total project cannot be determined with the provided information
A) Present value of the total project is less than 150.000 USD
Your company is using net present value as economic model when selecting projects. Currently, three projects are evaluated:
a. Project A: NPV = 100.000 USD and project length = 6 months
b. Project B: NPV = 200.000 USD and project length = 2 years
c. Project C: NPV = 50.000 USD and project length = 1 month
Which of these projects should be selected?
A) Project A
B) Project B
C) Project C
D) Information provided is not sufficient
B) Project B
Highest NPV value
If your company uses Internal Rate of Return (IRR) as a project selection method, which of the following projects should be selected?
A) Project A with IRR = 4%
B) Project B with IRR = 9%
C) Project C with IRR = 11%
D) Project D with IRR = 13%
D) Project D with IRR = 13%
Highest IRR
Payback Period:
- Payback period is the number of time periods to recover investment of a project.
- Projects with shorter payback periods should be selected
- If payback period is 3 months for a project where 100 USD has been invested initially, it will generate 100 USD revenue in 3 months after project has been accomplished.
In your construction project, a worker builds up 5 meters of wall in a day. Since this task has been delayed and needs to be finished as soon as possible, you decided to put another worker to work on building up this wall. When you checked again the status, you have seen that 2 workers started to build up 8 meters of wall in a day instead of 10 meters of wall.
This can be explained by:
Law of diminishing returns
Your company uses straight line depreciation when valuing vehicles and equipment. A truck that has been bought two years ago for 300 USD is now valued for 260 USD. What will be the value of truck after three years from now?
A) 220.000 USD
B) 200.000 USD
C) 180.000 USD
D) 150.000 USD
B) 200.000 USD
Project Statement of Work (SOW):
- Created by customer or project sponsor
- Defines needs and product scope of project
- Describes how project fits to customer’s strategic plan
Management Plans of project are created during Develop Project Management Plan Process. Which of the following is NOT true about Management Plans?
A) Looks back in time to find problematic parts of the project
B) Unique to each project
C) Created by project manager
D) Covers how the project will be managed and controlled
A) Looks back in time to find problematic parts of the project
Project Management Plan includes all of the following EXCEPT:
A) Processes that will be used in project
B) Scope, Schedule and Cost Baselines
C) Change Management Plan
D) Lessons Learned Document
D) Lessons Learned Document
Performance Measurement Baseline includes all of the following EXCEPT:
A) Risk Baseline
B) Scope Baseline
C) Schedule Baseline
D) Cost Baseline
A) Risk Baseline
Scope baseline of a project includes all of the following EXCEPT:
A) WBS
B) WBS Dictionary
C) Procurement Statement of Work
D) Project Scope Statement
C) Procurement Statement of Work
Which of the following is NOT true about baselines?
A) Baselines help to see deviations during project execution
B) All changes to project must be reflected in baselines as well
C) Changes to baselines should be formally requested
D) Deviations from baselines often occur due to incomplete risk management activities
B) All changes to project must be reflected in baselines as well
Change Management Plan includes all of the following EXCEPT:
A) Change control procedures
B) Risks of project
C) Participants of change meetings
D) Approval levels for changes
B) Risks of project
Which of the following is NOT a Project Document?
A) Scope Management Plan
B) Project Charter
C) Activity List
D) Project Statement of Work
A) Scope Management Plan
BEST describes Kick-Off meeting?
Makes sure everyone is on the same page before execution of project starts
Which process of the Integration Management Knowledge area includes managing people and doing the project work?
Direct and Manage Project Work