Midterm PM Questions and Answers

Question 1

<p>What is the Traditional Project Management Life Cycle (PMLC) Model?</p>

Answer 1

<p>It's a linear sequence of five processes: Scoping, planning, launching, executing, and closing.</p>

Question 2

<p>What is the requirement breakdown structure? (RBS)</p>

Answer 2

<p>List that will be complete using higher order definitition. Requirement > Functions> sub-functions>Processes>Activities>Features</p>

Question 3

<p>What is lessoned learned?</p>

Answer 3

<p>Archive, project done. Here is where you can learn from the successes or failures of the project for the next one. Therefore, you don't need to start from scratch. Should be organized.</p>

Question 4

<p>What is Project Management Process Groups</p>

Answer 4

<p>Initiating>Planning>Executing>Monitoring &amp;amp; Controlling>Closing.
Initiating --Proposal Phase
Planning --Planning Phase
Executing/Monitoring --Implementation Phase
Closing -- Close Down Phase</p>

Question 5

<p>What is the Project Life Cycle?</p>

Answer 5

<p>Needs>Objectives>Requirements>Deliverables/Results>Lessons Learned/Archived/Sign Off. Each Phase should have a sign off.</p>

Question 6

<p>What is Non Traditional Agile?</p>

Answer 6

<p>It is not sequential, and goal is clear, but the solution is not.</p>

Question 7

<p>Name two things that makes the project successful?</p>

Answer 7

<p>1. It's measured by the business value that the solution delivers.
2. Successful execution of the process that created the solution.</p>

Question 8

<p>What are the 10 project management knowledge areas?</p>

Answer 8

<p>1. Project Integration Management. This is the start of the project, create the proposal, then the planning, then the execution, monitoring progress against the plan, integration of changes, and then project closures.</p>

Question 9

<p>Project Integration detailed. Creating Project Charter; what is in the charter?</p>

Answer 9

<p>1. Initiate the project. Create the proposal. In order to do so, we have to define the project itself. We do it with answering the 5W.s and 3 Hows, and Risk and Quality.

1. What are the goals and objectives.? (i.e Team project. Dessert Recipe Pamphlet (3 ingredients, no bake).

2. 0 Who : The Stakeholders -- anyone who is impacted by this project. Team -- they will create the deliverables,
2. 1 Who: Sponsor/Client: Professor Anita Dhir.

3. When/Timeline
4. Where: Virtual Classroom Zoom Meeting
5. Why: Business Justification: To have a new, easy, and delicious recipes in a clean format that will help keep stakeholders efficiently find and create desserts for entertaining or day to day treats using minimal (3) ingredients and no baking neccessary.
6. How/approach --Research recipes with appropriate requirements (3) ingredients/no bake/desserte and then create a recipe pamphlet on microsoft word.
7. How Much/ Budget and Resources. \$\$\$\$ and how many people will it take to get this done.
8. How Well/Quality --an easy to follow step by step guide in how to create 4 different no bake desserts using on 3 ingredients. Photos included.
9. Risks/Challenges -- Food Allergies, Food restrictions.</p>

Question 10

<p>Why do you need the Value Statement and what is in it?</p>

Answer 10

<p>Value Statement is part of initiating phase and it sells the project. Formula is: To do (How) XYZ (What) at CC (Where) from xx/yy/zz (When-Start) and xx/yy.zz (When-end) with \$\$\$\$ (How much) using ABC Resources (Who-Team) so that GGG( Who-Client) realizes (Why) PQR results (How Well).</p>

Question 11

<p>What are the Enterprise Environmental Factors Affecting Projects?</p>

Answer 11

<p>Economic and Social System
Technology Structure
Organization Culture &amp;amp; Structure
Legal &amp;amp; Political System</p>

Question 12

<p>What are the project environment affect projects?</p>

Answer 12

<p>Resources, Methods, Budget, Tools</p>

Question 13

<p>What is the PMI Code of Ethics -- Four Values</p>

Answer 13

<p>Responsibility, Honesty, Respect, and Fairness</p>

Question 14

<p>What is risk mitigation?</p>

Answer 14

<p>Mitigate is what would you do to minimize the impact should the risk event occur? Plan as much as possible and the responses that will be used if the identified risks occur. It is not just listing the risks, but also identifying each risk and choose what plan to act upon should something come up. There should be limited surprises.</p>

Question 15

<p>Can the customer and client be the same person?</p>

Answer 15

<p>Yes, they can.</p>

Question 16

<p>Who is the vendor?</p>

Answer 16

<p>Vendors are people who buy raw materials, finished goods, and suppliers.</p>

Question 17

<p>Who is the sponsor?</p>

Answer 17

<p>Sponsor gives appropriate funding to get project done.</p>

Question 18

<p>Why do you announce the completion of the project is done?</p>

Answer 18

<p>to let people know you are available.</p>

Question 19

<p>What is the scope triangle?</p>

Answer 19

<p>Projects must remain in balance.. The area inside the triangle is called the scope and quality of the project. Lines representing time, cost, and resource availability bound scope and quality. PM controls resource, utilization and work schedules, Management controls cost and resource level. The client controls scope, quality, and delivery dates Scope, quality, and delivery dates suggest a hierachy for the Project Manager as solutions to accommodate the changes are sought.</p>