Managing in Different Environments

Question 1

What is Governance Framework

Answer 1

Address the organization rules policies and procedures.
Address 4 key factors: Organizational Alignment, Risk Management, Performance on time, cost and schedule and Communication with correct stakeholder

Question 2

Organic or Simple Structure

Answer 2

PM part-time has Low Authority,Little Resources and

Question 3

Functional or Centralized Structure

Answer 3

PM Part time low Authority, little resources

Question 4

Strong Matrix

Answer 4

PM Full Time, Moderate to High Authority, Moderate to High Resources

Question 5

Balanced Matrix

Answer 5

PM part time, Low to Moderate Authority,

Question 6

Project Oriented Structure

Answer 6

PM Full time, High to Almost Total Authority,

Question 7

Virtual

Answer 7

PM Full or Part time, Low to Moderate Authority

Question 8

Hybrid

Answer 8

PM Mixed

Question 9

PMO

Answer 9

PM Full time, High to Total Authority

Question 10

Project Charter

Answer 10

Names the Project Manager authorizes the project managers level of authority,

Question 11

Project Charter Includes

Answer 11

Business Needs, Success Criteria, PM name and Level of Authority, Key Stakeholders, Summary Milestone Schedule, Project constraints and assumptions, Business Case, Summary Project Budget, High Level Risks, Project Approval requirements, Exit Criteria, Name and Authority of Project Sponsor

Question 12

Enterprise Environmental Factors

Answer 12

Org Culture and Structure, Industry standards and regulations, Org Infrastructure, Human Resources, Work Authorization System, Market Place Conditions, Stakeholder risk tolerance or utility function, Commercial Databases, Project Management Information System (PMIS)

Question 13

Project Charter Inputs

Answer 13

Business Case, Documents, Agreements, Enterprise Environmental Factors, Organization Process Assets

Question 14

Mathematical Models or Constrained Optimization

Answer 14

Linear, Non Linear, Dynamic, Integer, or Multi object Programming methods used to choose new projects

Question 15

Benefits Comparison Model

Answer 15

Used to determine project success, Murder Boards, Scoring Models (base project selection on predefined values). Benefit/Cost Ratio’s examines the benefit cost ratio Cost (right side) Benefit (left side) 1:3. Payback Period: How long will it take the project to pay back costs.

Question 16

Present Value (PV)

Answer 16

The highest present value is the best project choice. (PV

Question 17

Net Present Value (NPV)

Answer 17

Better than zero is good, and less than zero means the project is losing money

Question 18

4 Tools used to create Project Charter

Answer 18

Expert Judgement, Data Gathering, Interpersonal and Team Skills, Meetings

Question 19

Common Tool for Project Management Processes

Answer 19

Expert Judgement

Question 20

Project Management Plan Tools and Techniques used

Answer 20

Brainstorming, Focus Groups, Checklist,

Question 21

Scope Baseline

Answer 21

Combination of 3 project documents: Scope Baseline Statement, WBS Structure and WBS Dictionary, Project deliverables are measured against for variances

Question 22

Schedule Baseline

Answer 22

What was planned versus what is experienced

Question 23

Cost Baseline

Answer 23

Aggregated costs of all the work packages within the WBS

Question 24

Performance Measurement Baseline

Answer 24

Combines scope, schedule and cost to compare what’s planned against what’s experienced

Question 25

Change Management Plan

Answer 25

procedures for change requests, how changes are managed, documented, approved or declined. Plan apart of Control Scope Process.

Question 26

Configuration Management Plan

Answer 26

Input to Control Scope Process. Defines how changes to functions and features of project deliverables and product scope can enter the project

Question 27

Risk Response Plan

Answer 27

Defines risk responses

Question 28

Milestone List

Answer 28

Details project milestones and their attributes. Used in several areas of Project Planning

Question 29

Resource Calendar

Answer 29

Defines when resources are available to the project.

Question 30

Project Management Information Systems

Answer 30

Is used to help manage projects, makes decisions and track project progress

Question 31

Issues

Answer 31

Unexpected events that must be documented and managed to prevent the from causing events

Question 32

Managing Project Knowledge

Answer 32

two types: Explicit Knowledge quickly accessed through conversations, documentation, figures or numbers
Tacit Knowledge personal beliefs, values, know-how

Question 33

Inputs to Managing Project Knowledge

Answer 33

Project Management Plan, Lesson Learned Register, Project Team Assignments, Resource Breakdown Structure, Source Selection Criteria, Stakeholder Register

Question 34

Knowledge Management Tools and Techniques

Answer 34

Networking, Communities of practice, Meetings, Work Shadowing, Discussion Forums and Focus Groups, Training Events, Storytelling, Creativity, Knowledge Fairs

Question 35

Knowledge Management Outputs

Answer 35

Lessons Learned Register, Project Management Plan Updates, Organizational Process Assets Updates