Mid Term

Question 1

What are the characteristics of a project?

Answer 1

Established Objective
Defined Lifespan, beginning and End
Involves several departments
Do something new
Specific time, cost, and performance requirements

Question 2

What are some challenges of PM?

Question 3

What are the four phases of the Project Life Cycle?

Answer 3

Defining
Planning
Executing
Closing

Question 4

What is a program?

Answer 4

a group of related projects designed to accomplish a common goal

Question 5

What is PMBOK stand for?

Answer 5

Project Management Body of Knowledge

Question 6

What are some aspects of project management that PMBOK outlines?

Answer 6

best practices, terminologies, and guidelines

Question 7

Study Network Computation….

Answer 7

Forward, Backward pass

Question 8

What is forward pass?

Answer 8

Forward pass is the earliest times an activity may begin (EF=ES+DUR).

Question 9

What is backward pass?

Answer 9

Backward pass identified late start and finishes of the activities in a project. (LS=LF-DUR)

Question 10

What is slack/float time?

Answer 10

tells us the amount of time an activity can be delayed and not delay the project (SL= LS-ES)

Question 11

What is FREE slack?

Answer 11

the amount of time an activity can be delayed without delaying any (IMMEDIATE) successor activities.

Question 12

What is the Chaos idea?

Answer 12

that project outcomes frequently do not meet project objectives/goals

Question 13

What are the HRB three reasons project fail?

Answer 13

White Space (Gaps in plan)
Poor Execution
Integration (Flawless execution but poor delivery on scope)

Question 14

The framework for project success survey revealed that?

Answer 14

the project management plan, responsibility matrix, and monitoring of the budget schedule are important in project success.

Question 15

The talent triangle focuses on what three areas?

Answer 15

Technical project management, leadership, strategic and business management

Question 16

What are the 6 processes of scope management overview?

Answer 16

1) Scope Management
2) Collect Requirements
3) Define Scope
4) Create WBS
5)Validate Scope
6) Control Scope

Question 17

What is a control schedule and what are some tools/techniques?

Answer 17

it is the monitoring status, updating schedule, and management of the baseline.
Tools/Techniques: critical path method, Resource optimization, and Leads & Lags

Question 18

What is project cost management and what are its tools?

Answer 18

monitoring changes to cost and the baseline.
Tools/Techniques: Expert Judgement, to complete performance index, project info system.

Question 19

What is project scope management and what are its tools?

Answer 19

monitoring changes to scope.
Tools: variance and trend analysis

Question 20

Name two top down methods and describe them.

Answer 20

Consensus: pooled experience of senior/middle management for project duration and cost
Ratio: Dollars per square foot

Question 21

Name two bottom up methods and describe them.

Answer 21

Template: Using similar or past projects as reference.
Parametric:task specific (ex: x amount of computers per person).