Modules 4 & 5

Question 1

Servant Leadership

Answer 1

A type of leadership style used in agile and other types of projects which encourages the self-definition, self-discovery, and self-awareness of the team members by listening, coaching, and providing an environment which allows them to grow.

Question 2

Power/Influence Grid

Answer 2

A classification model that groups stakeholders on the basis of their levels of authority and involvement in the project.

Question 3

Earned Value Management (EVM)

Answer 3

A methodology that combines scope, schedule, and resource measurements to assess project performance and progress.

Question 4

Earned Value (EV)

Answer 4

A measure of work performed expressed in terms of the budget authorized for that work.

Question 5

Planned Value (PV)

Answer 5

The authorized budget assigned to scheduled work. PV indicates the value of work scheduled to be done during a particular time period.

Question 6

Actual Cost (AC)

Answer 6

The realized cost incurred for the work performed on an activity during a specific time period.

Question 7

Schedule Variance (SV)

Answer 7

A measure of schedule performance expressed as the difference between the earned value and the planned value. (SV=EV-PV)

Question 8

Schedule Performance Index (SPI)

Answer 8

A measure of schedule efficiency expressed as the ratio of earned value to planned value. (SPI=EV/PV)

Question 9

Estimate at Completion (EAC)

Answer 9

The expected total cost of completing all work expressed as the sum of the actual cost to date and the estimate to complete.

Question 10

Burnup Charts

Answer 10

A graph to show the progress and gains made by the project team over time.

Question 11

Cycle Time

Answer 11

Measurement of work that has progressed all the way from plan to completed or delivered.

Question 12

Tuckman’s Ladder

Answer 12

These four stages are “forming, storming, norming, performing & adjourning”.

Question 13

Conflict Management Approaches

Answer 13

1. Smooth/Accountable
2. Withdraw/Avoid
3. Compromise/Reconcile
4. Force/Direct
5. Collaborate/Problem Solve

Question 14

Nominal Group Technique

Answer 14

A technique that enhances brainstorming with a voting process used to rank the most useful ideas for further brainstorming or for prioritization.

Question 15

Maslow’s Hierarchy

Answer 15

A theory that places the needs of an individual in a pyramid or triangle. The theory states that a lower-level need must be satisfied before a higher-level one can be addressed.

Question 16

McClelland’s Achievement Theory

Answer 16

It has 3 components: achievement, power & affiliation. Achievement relates to success, power to influence other people, and affiliation to belonging to a team.

Question 17

McGregor’s Theory X & Y

Answer 17

Applies to the management of labor. Theory X (old-school) states that people generally do not like to work and are not motivated to work. Management feels that they need to supervise labor to maintain productivity. Theory Y (modern approach) is essentially the opposite.

Question 18

Herzberg’s Motivation Theory

Answer 18

Success in the workplace is based upon two elements. Hygiene factors relate to working conditions, a stable job, and good relationships with management and co-workers. Motivating factors relate to feelings of achievement, recognition, and career advancement. Herzberg said that people are not generally motivated by money.

Question 19

Return on Investment (ROI)

Answer 19

A financial metric of profitability that measures the gain or loss from an investment relative to the amount of money invested.

Question 20

Net Present Value (NPV)

Answer 20

The present value of all cash outflows minus the present value of all cash inflows.

Question 21

Benefits Management Plan

Answer 21

The documented explanation defining the processes for creating, maximizing, and sustaining the benefits provided by a project or program.

Question 22

A/B Testing

Answer 22

A marketing approach used to determine user preferences by showing different sets of users similar services with one independent variable.

Question 23

Types of Organizational Structures

Answer 23

Functional, Project-Oriented, Matrix and Composite.

Question 24

Enterprise Environmental Factors (EFF)

Answer 24

Conditions that are not under the immediate control of the team, and that influence, constrain, or direct the project, program, or portfolio.

Question 25

Continuous Improvement

Answer 25

An ongoing effort to improve products, services or processes.

Question 26

Power/Interest Grid

Answer 26

A classification model that groups stakeholders on the basis of their levels of authority and interest in the project.

Question 27

Salience Model

Answer 27

A classification model that groups stakeholders on the basis of their level of authority, their immediate needs, and how appropriate their involvement is in terms of the project.

Question 28

Budget at Completion (BAC)

Answer 28

The sum of all budgets established for the work to be performed.

Question 29

Cost Variance (CV)

Answer 29

The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost.

Question 30

Cost Performance Index (CPI)

Answer 30

A measure of the cost efficiency of budgeted resources expressed as the ratio of earned value to actual cost.

Question 31

To Complete Performance Index (TCPI)

Answer 31

TCPI is a calculated projection of cost performance that a project must achieve on the value of the remainder of the project work to achieve a specified end result.

Question 32

Variance at Completion (VAC)

Answer 32

The cost Variance at Completion (VAC) provides an indication of the estimated cost under-run or over-run at the completion of the project: VAC = BAC − EAC.

Question 33

Throughput Metrics

Answer 33

Measurement of the team’s work that has moved from one stage to another stage over a certain time.

Question 34

Value Stream Mapping

Answer 34

A lean enterprise technique used to document, analyze, and improve the flow of information or materials required to produce a product or service for a customer.

Question 35

Velocity

Answer 35

Measurement of total output from an iteration to attempt to predict future iteration outputs.

Question 36

Emotional Intelligence

Answer 36

Emotional Intelligence (EI) is the ability to sense, understand, manage and apply the information and power of emotions as your greatest source of energy, motivation, connection and influence. Antiquated thinking said: leave emotions out of it. You cannot.

Question 37

Active Listening

Answer 37

A communication technique that involves acknowledging what you hear and clarifying the message to confirm that what you heard matches the message that the sender intended.

Question 38

Present Value (PV)

Answer 38

The current value of a future sum of money or stream of cash flows given a specific rate of return.

Question 39

Internal Rate of Return (IRR)

Answer 39

The interest rate that makes the net present value of all cash flow equal to zero.

Question 40

Net Promotor Score (NPS)

Answer 40

Measures a customer’s willingness to recommend a provider’s products or services to another on a scale of -100 to 100.

Question 41

PESTLE

Answer 41

The PESTLE acronym identifies the external business environment factors that can affect the value and desired outcomes of a project. PESTLE considers political, economic, social, technical, legal, and environmental factors as causes or agents of external change.

Question 42

Project Management Office (PMO)

Answer 42

A management structure that standardizes the project-related governance processes and facilitates the sharing of resources, methodologies, tools, and techniques.

Question 43

Organizational Process Assets (OPA)

Answer 43

Plans, processes, policies, procedures, and knowledge bases that are specific to and used by the performing organization.

Question 44

Kaizen

Answer 44

A second idea emerging from Japanese business (ca. 1980s). Its key features include:

• Improvements based on many small changes.
• Small changes less likely to require major expenditures of capital.
• Ideas come from workers-not expensive research, consultants, or equipment.
• All employees should continually improve their own performance.
• All are encouraged to take ownership of their work to improve motivation.