Medium Difficulty 3 Flashcards
What is the only way for a project management practitioner to resolve conflict of interest?
To disclose the conflict to the parties affected by the conflict and let them make a decision on how he/she should proceed.
Is making decisions in the best interest of the society an aspirational or a mandatory standard?
Aspirational
Accepting only those assignments that we are skilled or qualified to do demonstrates which core value?
Responsibility
Fulfilling our commitment demonstrates which core value?
Responsibility
Is accepting accountability for our mistakes and the resulting consequences an aspirational standard or a mandatory standard?
Aspirational
Is the protection of confidential information entrusted on us an aspirational standard or a mandatory standard?
Aspirational
Is upholding the policies, rules, regulations and laws that govern our work an aspirational or mandatory standard?
Mandatory
Is reporting unethical or illegal conduct an aspirational or mandatory standard?
Mandatory
What should we ensure before filing an ethics complaint?
Ensure that the ethics complaint is substantiated by facts.
What should we do when we come across individuals who knowingly make false allegations against others?
We should pursue disciplinary action against them.
When we inform ourselves of norms and customs of others, which core value do we exhibit?
Respect
When we listen to others’ viewpoint and try to understand them, which core value do we exhibit?
Respect
What should we do with people with whom we have a conflict or disagreement?
We should approach them directly and try to resolve the conflict or disagreement.
By conducting ourselves in a professional manner, which core value do we exhibit?
Respect
Is negotiating in good faith an aspirational standard or a mandatory standard?
Mandatory
Acting in an abusive manner violates which core value?
Respect
Infringing on the property rights of others is a violation of which core value?
Respect
By exercising our power of expertise or position to manipulate others, which standard do we violate?
Mandatory Standard for Respect
By demonstrating transparency in our decision-making, which core value do we exhibit?
Fairness
By demonstrating impartiality and objectivity, which core value do we exhibit?
Fairness
By not providing equal access to information to those who are authorized to access it, which standard do we violate?
Aspirational Standard for Fairness
If we do not provide equal information to all the qualified bidders in a bidding process, which standard are we violating?
Aspirational Standard for Fairness
Is proactively disclosing all real and potential conflicts of interest to the stakeholders an aspirational standard or a mandatory standard?
Mandatory
What should we do if we determine that we have a potential conflict of interest?
Refrain from decision-making until we have made a full disclosure to the stakeholders and received their consensus to proceed.
By discriminating with others based on their religion, gender, caste, creed, race, nationality, age, etc., which standard do we violate?
Mandatory Standard for Fairness
Exhibiting nepotism in professional matters is a violation of which standard?
Mandatory Standard for Fairness
Being truthful in our communication and conduct is a demonstration of which core value?
Honesty
Having the courage to share bad news even if it is received poorly is a demonstration of which core value?
Honesty
Is creating an environment in which others feel safe to tell the truth an aspirational or a mandatory standard?
Aspirational
Stating misleading or false information is a violation of which standard?
Mandatory Standard for Honesty
Is providing accurate information in a timely manner something that is mandatory or something that we should aspire to do?
We should aspire to provide accurate information in a timely manner.
Whom does the PMI Code of Ethics and Professional Conduct apply to?
PMI Code of Ethics and Professional Conduct applies to: - All PMI members - PMI credential holders - PMI credential applicants - PMI volunteers
Paying fee to government officials in a foreign country is a common practice to get permits to do business in that country. Should you pay such fees?
No. Usually such fees to government officials are considered bribe and are against the law.
The belief in inherent superiority of one’s own culture or group reflects?
Ethnocentrism
What is the best time to assign a Project Manager to a Project?
As early in the project as possible, preferably while the project charter is being developed and always prior to the start of planning. In other words, during project initiation.
If the product scope is achieved, is the project complete?
No. The project is only complete after formal closure activities are complete.
Why is it important to involve team members in defining activity lists?
It can lead to better and more accurate decomposition of work packages into activities.
What are the benefits of continuous improvement?
Continuous improvement reduces waste, eliminates non value-adding activities and hence increases profitability.
Why is it important to involve team members early in the project?
It adds their expertise during the planning process and strengthens their commitment to the project.
What is important in order to make rewards effective?
Rewards will be effective only if they satisfy a need that is valued by that individual.
What is the best time for project managers to do team recognition?
Team recognition should be done throughout the life cycle of the project rather than waiting until the project is completed.
When should stakeholders be identified in the project?
Stakeholder identification and engagement should commence as soon as possible after the project charter has been approved, the project manager has been assigned, and the team begins to form.
What are the benefits of maintaining an Issue Log on a project?
It helps in timely resolution of issues, and avoiding conflicts and project delays that can result from unresolved issues.
When should Plan Risk Management process begin on a project?
As soon as the project is conceived
Which item should always be on the agenda at project status meetings?
Risk management
When is stakeholder identification performed on the project?
Stakeholder identification is a continuous process throughout the entire project life cycle.
What is the main benefit of actively engaging stakeholders?
It reduces the risk of project failure.
Should each project management process be applied on every project?
Not necessarily. The appropriate project management processes, inputs, tools, techniques, outputs, and life cycle phases should be selected to manage a project. This selection activity is known as tailoring project management to the project.
Give 5 examples of Enterprise Environmental Factors.
- Organizational culture - Industry standards - Existing infrastructure - Existing human resources - Marketplace conditions
Is organizational structure of the performing organization considered an Enterprise Environmental Factor or an Organizational Process Asset for the project?
Enterprise Environmental Factor
Is resource availability considered an Enterprise Environmental Factor or an Organizational Process Asset for the project?
Enterprise Environmental Factor
Are project management plan templates considered an Enterprise Environmental Factor or an Organizational Process Asset for the project?
Organizational Process Asset
Give three examples of tangible elements of business value for business driven organizations.
- Monetary assets - Fixtures - Stockholder equity
Give three examples of intangible elements of business value for business driven organizations.
- Goodwill - Brand recognition - Trademarks
What are the various types of PMO structures within organizations?
- Supportive - Controlling - Directive
_________________ aligns projects, programs, or operations to the organizational strategy.
<u>Portfolio Management</u> aligns projects, programs, or operations to the organizational strategy.
Are project closure requirements considered an Enterprise Environmental Factor or an Organizational Process Asset for the project?
Organizational Process Asset
What are the two types of Enterprise Environmental Factors?
External and Internal
What are the two categories of Organizational Process Assets?
- Processes, Policies, and Procedures - Corporate Knowledge Base
What are the three organizational system factors that can influence projects?
- Management elements - Governance frameworks - Organizational structure types
What is the primary function of a PMO?
To support project managers.
Give some examples of project stakeholders.
- Customers - End users - Sponsor - Project Management Office (PMO) - Project Managers - Project team - Functional managers - Vendors
Whom does the project manager usually report to in a Balanced Matrix organization?
Functional Manager
What are the two categories of Organizational Process Assets?
- Processes, policies, and procedures 2. Organizational knowledge bases
What are the 3 primary forms of organizational structures?
- Functional - Matrix - Projectized
What are the 3 types of Matrix organizations?
- Weak Matrix - Balanced Matrix - Strong Matrix
How much authority do project managers have in a Balanced Matrix organization?
Low to moderate
Who controls the project budget in a Balanced Matrix organization?
It’s a mixed responsibility between the Functional Manager and the Project Manager.
Whom does the project staff report to in a Strong Matrix organization?
Both - the Functional Manager and the Project Manager - but the Project Manager has more authority on the resources than the Functional Manager.
In which organizational structure(s), the project has full-time administrative staff?
- Project-oriented - Strong Matrix
When can Organizational Process Assets be added or updated?
Organizational Process Assets can be added or updated throughout the project.
Are Project Management Information Systems (PMIS) classified as Enterprise Environmental Factors or an Organizational Process Assets?
Enterprise Environmental Factors
Is organizational infrastructure considered an Enterprise Environmental Factor or an Organizational Process Asset?
Enterprise Environmental Factor
Are employee performance reviews and training records part of Enterprise Environmental Factors or an Organizational Process Assets?
Enterprise Environmental Factors
Are change control procedures part of Enterprise Environmental Factors or an Organizational Process Assets?
Organizational Process Assets
Is Project Plan template an Enterprise Environmental Factor or an Organizational Process Asset?
Organizational Process Asset
Is organizational culture an Enterprise Environmental Factor or an Organizational Process Asset?
Enterprise Environmental Factor
Is lessons learned knowledge base an Enterprise Environmental Factor or an Organizational Process Asset?
Organizational Process Asset
What are Predictive life cycles also known as?
Waterfall life cycles
A project scheduling software, such as MS Project, is an Organizational Process Asset for the project. True or False?
False. Company systems and software applications are considered part of the Project Management Information System (PMIS), which is an Enterprise Environmental Factor.
Controlling PMOs maintain the highest degree of control on projects. True or False?
False. Directive PMOs exert the highest degree of control by directly maintaining the projects.
Name the two Initiating processes.
- Develop Project Charter - Identify Stakeholders
Name the only Closing group processes.
Close Project or Phase
What is the total number of project management processes defined in the PMBOK® Guide, 6th Edition?
49 processes, across 5 Process Groups and 10 Knowledge Areas
Name the Project Integration Management process(es) under the Initiating Process Group.
Develop Project Charter
Name the Project Integration Management process(es) under the Planning Process Group.
Develop Project Management Plan
Name the Project Integration Management process(es) under the Executing Process Group.
- Direct and Manage Project Work - Manage Project Knowledge
Name the Project Integration Management process(es) under the Monitoring and Controlling Process Group.
- Monitor and Control Project Work - Perform Integrated Change Control
Name the Project Integration Management process(es) under the Closing Process Group.
Close Project or Phase
Name the Project Scope Management processes under the Planning Process Group.
- Plan Scope Management - Collect Requirements - Define Scope - Create WBS
Name the Project Scope Management process(es) under the Monitoring and Controlling Process Group.
- Validate Scope - Control Scope
Name the Project Schedule Management processes under the Planning Process Group.
- Plan Schedule Management - Define Activities - Sequence Activities - Estimate Activity Durations - Develop Schedule
Name the Project Schedule Management process(es) under the Monitoring and Controlling Process Group.
Control Schedule
Name the Project Cost Management process(es) under the Planning Process Group.
- Plan Cost Management - Estimate Costs - Determine Budget
Name the Project Cost Management process(es) under the Monitoring and Controlling Process Group.
Control Costs
What is/are the Project Quality Management process(es) under the Planning Process Group?
Plan Quality Management
What is/are the Project Quality Management process(es) under the Executing Process Group?
Manage Quality
What is/are the Project Quality Management process(es) under the Monitoring and Controlling Process Group?
Control Quality
Name the Project Resource Management process(es) under the Planning Process Group.
- Plan Resource Management - Estimate Activity Resources
What is/are the Project Resource Management process(es) under the Executing Process Group?
- Acquire Resources - Develop Team - Manage Team
What is/are the Project Stakeholder Management process(es) under the Initiating Process Group?
Identify Stakeholders
What is/are the Project Communications Management process(es) under the Planning Process Group?
Plan Communications Management
What is/are the Project Communications Management process(es) under the Executing Process Group?
Manage Communications
Name the Project Communications Management process(es) under the Monitoring and Controlling Process Group.
Monitor Communications
Name the Project Risk Management process(es) under the Planning Process Group.
- Plan Risk Management - Identify Risks - Perform Qualitative Risk Analysis - Perform Quantitative Risk Analysis - Plan Risk Responses
Name the Project Risk Management process(es) under the Monitoring and Controlling Process Group.
Monitor Risks
What is/are the Project Procurement Management process(es) under the Planning Process Group?
Plan Procurement Management
What is/are the Project Procurement Management process(es) under the Executing Process Group?
Conduct Procurements
What is/are the Project Procurement Management process(es) under the Monitoring and Controlling Process Group?
Control Procurements
What is/are the Project Procurement Management process(es) under the Closing Process Group?
There is no Project Procurement Management process under the Closing Process Group.
What is the primary source of information for how the project will be planned, executed, monitored and controlled, and closed?
The Project Management Plan
Which is the process that usually follows the Collect Requirements process?
Define Scope
Which Project Schedule Management processes usually precede the Develop Schedule process in the Planning Process Group?
- Plan Schedule Management - Define Activities - Sequence Activities - Estimate Activity Durations
Name all the Project Quality Management processes.
- Plan Quality Management - Manage Quality - Control Quality
Which Project Management Process Group does the Identify Stakeholders process belong to?
Initiating
Which Project Management Process Group does the Manage Team process belong to?
Executing
Which Project Management Process Group does the Manage Stakeholder Engagement process belong to?
Executing
Which Project Management Process Group does the Manage Communications process belong to?
Executing
Which risk management process usually follows the Identify Risks process?
Perform Qualitative Risk Analysis
Which risk management process usually follows the Perform Quantitative Risk Analysis process?
Plan Risk Responses
Which process formalizes the acceptance of completed project deliverables?
Validate Scope
Which Project Management Process Group does the Acquire Resources process belong to?
Executing
Which Project Management Process Group does the Validate Scope process belong to?
Monitoring and Controlling
What is/are the Project Stakeholder Management process(es) under the Planning Process Group?
Plan Stakeholder Engagement
What is/are the Project Stakeholder Management process(es) under the Executing Process Group?
Manage Stakeholder Engagement
What is/are the Project Stakeholder Management process(es) under the Monitoring and Controlling Process Group?
Monitor Stakeholder Engagement
What is the key benefit of the Manage Stakeholder Engagement process?
It allows the project manager to increase support and minimize resistance from stakeholders, and significantly increase the chances of project success.
Name all the Project Scope Management processes.
- Plan Scope Management - Collect Requirements - Define Scope - Create WBS - Validate Scope - Control Scope
Name all the Project Schedule Management processes.
- Plan Schedule Management - Define Activities - Sequence Activities - Estimate Activity Durations - Develop Schedule - Control Schedule
Name all the Project Cost Management processes.
- Plan Cost Management - Estimate Costs - Determine Budget - Control Costs
Name all the Project Resource Management processes.
- Plan Resource Management - Estimate Activity Resources - Acquire Resources - Develop Team - Manage Team - Control Resources
Name all the Project Communications Management processes.
- Plan Communications Management - Manage Communications - Monitor Communications
Name all the Project Risk Management processes.
- Plan Risk Management - Identify Risks - Perform Qualitative Risk Analysis - Perform Quantitative Risk Analysis - Plan Risk Responses - Implement Risk Responses - Monitor Risks
Name all the Project Procurement Management processes.
- Plan Procurement Management - Conduct Procurements - Control Procurements
Name all the Project Stakeholder Management processes.
- Identify Stakeholders - Plan Stakeholder Engagement - Manage Stakeholder Engagement - Monitor Stakeholder Engagement
Name the Project Risk Management process(es) under the Executing Process Group.
Implement Risk Responses
Which planning process precedes the Estimate Activity Resources process?
Plan Resource Management
Name the Project Resource Management process(es) under the Executing Process Group.
- Acquire Resources - Develop Team - Manage Team
Which project management process develops ad hoc reports, project presentations, blogs, and other types of communication about the project?
Manage Communications
In which process is a risk owner assigned to each risk?
Perform Qualitative Risk Analysis
Name all the Project Integration Management processes.
- Develop Project Charter - Develop Project Management Plan - Direct and Manage Project Work - Manage Project Knowledge - Monitor and Control Project Work - Perform Integrated Change Control - Close Project or Phase
Which Project Management Knowledge Area spans across all Project Management Process Groups (Initiating, Planning, Executing, Monitoring and Controlling, and Closing)?
Project Integration Management
In which process are approved change requests implemented?
Direct and Manage Project Work
If you are checking whether quality standards are being followed, which process are you in?
Manage Quality
If you are checking whether quality standards are being met, which process are you in?
Control Quality
If the project team is performing peer reviews of project deliverables, which process are they in?
Control Quality
Which process is used to ensure a timely implementation of approved change requests?
Control Quality
In which process are inspections performed on items changed or repaired as a result of approved change requests?
Control Quality
In which process is the effectiveness of a project team assessed?
Develop Team
In which process are the Performance appraisals of project team members conducted?
Manage Team
Name the Project Resource Management process(es) under the Monitoring and Controlling Process Group.
Control Resources
Which Process Group does the Identify Stakeholders process belong to?
Initiating
Name the Project Risk Management process(es) under the Executing Process Group.
Implement Risk Responses
Which process is a rapid and cost-effective way of prioritizing project risks?
Perform Qualitative Risk Analysis
In which process would you create a risk Probability and Impact Matrix?
Perform Qualitative Risk Analysis
What is the key benefit of the Identify Stakeholders process?
It allows the project team to identify the appropriate focus for each stakeholder.
Which process(es) provide(s) the necessary inputs for the Create WBS process?
- Plan Scope Management - Collect Requirements - Define Scope
Which process(es) provide(s) the necessary inputs for the Sequence Activities process?
- Develop Project Charter - Create WBS - Plan Schedule Management - Define Activities
What are the benefits of involving the customers and other stakeholders during project initiation?
It increases: - Shared understanding of success criteria - Probability of deliverable acceptance - Customer satisfaction
A project phase is also known as a Project Management Process Group. True or False?
False.
What should be done to a project if its NPV is less than zero?
Reject the project
What should be done to a project if its NPV is equal to or more than zero?
Accept the project
Among three projects with low, medium and high opportunity costs, which project is most attractive?
Project with the lowest opportunity cost is the most attractive.
What are the various Benefit Measurement methods of project selection?
- Murder Board - Peer Review - Scoring Models - Economic Models
What are the various Constrained Optimization methods of project selection?
- Linear programming - Nonlinear programming - Dynamic programming - Integer programming - Multi-objective programming
Which type of project selection method is Murder Board?
Benefit Measurement method
Which type of project selection method is Dynamic Programming?
Constrained Optimization method
Which type of project selection method uses ROI?
Benefit Measurement method
What are the various economic models of project selection?
- Present Value (PV) - Net Present Value (NPV) - Internal Rate of Return (IRR) - Return on Investment (ROI) - Payback Period - Benefit-cost Ratio
Which is better - a project with higher NPV or a project with lower NPV?
The higher the NPV, the better.
What is the term for the planned work contained at the lowest level of the WBS?
Work Package
Which requirement gathering technique enhances Brainstorming with a voting process to rank the most useful ideas for further brainstorming?
Nominal Group Technique
What is the project planning term for grouping of subtasks or activities across multiple interdependent work packages, between milestones or a given time period?
Summary Activity
What is a schedule network diagram without a time-scale, commonly referred to as?
Pure Logic Diagram
What is the term to describe the tendency where people start to apply themselves only at the last possible moment before the deadline?
Student Syndrome
What is the project management term for the supporting documentation that provides a clear and complete understanding of how the cost estimate was derived?
Basis of Estimates
Which graphical analysis technique examines project performance over time to determine if performance is improving or deteriorating?
Trend Analysis
What is Pareto’s Law popularly known as?
80/20 principle
What is the name of the technique used during the Plan Quality Management process to statistically determine the variables which will improve quality?
Design of Experiments (DOE)
Which tool is used to determine correlation between two variables?
Scatter Diagram
What is the term to describe documented results of quality control activities in the format specified during quality planning?
Quality Control Measurements
What is the term for the sum total of money spent during the project to avoid failures, and during and after the project because of failures?
Cost of Quality
Which tool illustrates the number of hours a person, a department, or an entire project team is needed each week (or month) over the course of the project?
Resource Histogram
Which model classifies project stakeholders by their power, urgency and legitimacy?
Salience Model
What is a common way of representing the gap between the current and desired engagement levels of stakeholders?
Stakeholders Engagement Assessment Matrix
Which technique helps to determine the risks which have the most potential impact on the project?
Sensitivity Analysis
Which tool would you use to graphically represent the results of Sensitivity Analysis?
Tornado Diagram
Which process verifies the acceptance of all the work and deliverables of the contract?
Control Procurements
What is the term to describe an ordered list of all the work, presented in story form?
Backlog
What is a commonly used measure for estimating user stories?
Story points
What is the term to describe a graphical representation of the work remaining versus the time left in a timebox?
Burndown Chart
What is the term to describe a graphical representation of the work completed toward the release of a product?
Burnup Chart
What are schedule activities on the critical path called?
Critical Path Activities
What is the term to describe a network path with low amount of float?
Near-Critical Path
What is total Planned Value (PV) of a project also known as?
Budget At Completion (BAC)
What is the ratio of Work Remaining to Funds Remaining known as?
To-Complete Performance Index (TCPI)
A documented economic feasibility study used to establish validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for the authorization of further project management activities is termed as?
Business Case
In this leadership style, the project manager tells the team members what, when, where, and how to do things. Which leadership style is this?
Directing
In this leadership style, the project manager encourages the team members to actively participate in the decision-making process. A lot of authority is delegated to the team members and they play an active role in managing the project. Which leadership style is this?
Democratic or Participative
A person’s legal or moral responsibility to promote the best interest of an organization or party he/she is affiliated with, is known as?
Duty of Loyalty