Obj. 1 Part 1

Question 1

BCR

Answer 1

(benefit cost ratio) For every $1 i invest how much will i get back

Question 2

Responding to change OVER

Answer 2

Following a plan

Question 3

Business Case

Answer 3

Business needs, analysis, options, strategic alignment, recommendation, feasibility study

Question 4

Project Selections

Answer 4

Mathematical modeling, benefit comparison, scoring model

Question 5

ROI

Answer 5

Return on investment; ((gains-cost)/cost))*100
measures profits generated

Question 6

PBP

Answer 6

how long to pay off the project

Question 7

Scoring Model

Answer 7

One of the benefit measurement methods used for project selection. It contains a predefined list of criteria against which each project is ranked. Each criterion has a scoring range and a weighting factor. A scoring model can also be used as a tool to select from among competing vendors.

Question 8

Project Characteristics

Answer 8

has a start & finish; unique; serves a purpose; stakeholder satisfaction

Question 9

Program

Answer 9

related group of projects

Question 10

Enviromental factors

Answer 10

cultural, developmental, industry standards

Question 11

Opex

Answer 11

Operational Expenditure

Ongoing expenses, pay as you go/use

Such as maintenance costs, energy costs..

Question 11

RFI

Answer 11

request for information/narrows down suppliers

Question 11

Pre-existing contracts

Answer 11

already written in agreements

Question 11

Predetermined Clients

Answer 11

partner organizations

Question 11

RFB

Answer 11

request for bid

Question 12

Waterfall Model

Answer 12

Gather requirements
Design
Plan
Build
Test
Release/Execute

Question 13

Waterfall Traits

Answer 13

changes discouraged
all effort upfront

Question 14

Agile Model

Answer 14

Done in cycles
Adaptive
Incremental (provides quick user feedback)
Iterative

Question 15

Agile Priorities

Answer 15

Working Software > documentation

Question 16

Scrum

Answer 16

Popular agile framework that is people centric

Product owner, scrum master, development team and product backlog

Question 17

Kanban

Answer 17

Focuses on workflow
On demand schedule

Question 18

XP framework

Answer 18

Extreme programming

Software engineering

Continuous integration, pair programming, spiking

Question 19

SAFe

Answer 19

Scaled Agile Framework; agile at the enterprise level

Question 20

PRINCE2

Answer 20

Projects in Controlled Enviroments; organized and controlled

Question 21

SDLC

Answer 21

Software Development Life Cycle; defines activities during the lifecycle process

Question 22

Business Case def

Answer 22

A value proposition for a proposed project that may include financial and nonfinancial benefits.

Question 23

Cycles of Project Life Cycle

Answer 23

Discover Initiation Plan Execute Close

Question 24

Cycles of SDLC

Answer 24

Plan Design Build Test Deploy

Question 25

NPV

Answer 25

Net Present Value - the difference between the present value of cash inflows (now) and the present value of cash outflows.(future)

Question 26

IRR

Answer 26

internal rate of return; does the investment have a high or low rate of return

Question 27

Name 2 frameworks

Answer 27

Kanban DevOps DevSecOps PRINCE2 SDLC XP SAFe Scrum Waterfall

Question 28

Procurement Methods

Answer 28

The process of choosing designers, contractors, and specialty consultants Build/make, Buy, Lease, Subscribe/Pay-as-you-go

Question 29

CapEx

Answer 29

Capital Expenditures, how much the firm spends on fixed assets. Major investments

Question 30

Pre-qualification Vendors

Answer 30

Approved suppliers

Question 31

RFP

Answer 31

request for proposal (approach and design)

Question 32

RFQ

Answer 32

request for quote A request sent by a buyer to one or more suppliers for the pricing and availability of a defined quantity of specific items

Question 33

Exploratory Documents

Answer 33

RFI, RFB, FRQ, RFP

Question 34

Types of Contracts

Answer 34

Fixed price Cost Plus Hybrid: time and materials

Question 35

Fixed Price Contract

Answer 35

total fixed price for set product/service well defined scope

Question 36

Cost Plus Contract

Answer 36

buyer pays cost + fees scope expected to change/not defined

Question 37

Time and Materials Contract

Answer 37

vendor charges for time and materials

Question 38

SOW

Answer 38

Statement of work details of services/goods we want to purchase

Question 39

TOR

Answer 39

Terms of Reference Description of work requirements

Question 40

NDA

Answer 40

Non-disclosure agreement trade secrets don't leave company

Question 41

MSA

Answer 41

Master service agreement umbrella agreement to set general terms

Question 42

PO's

Answer 42

Purchase order details goods specified, issued by buyer

Question 43

MA

Answer 43

maintenance agreement details what the vendor is expected to do to keep the service running

Question 44

Warranty

Answer 44

guarantee of service

Question 45

Program Manager

Answer 45

program manager oversees groups of projects that are linked through a common organizational goal

Question 46

Project Manager

Answer 46

makes sure individual projects are carried out on time, within budget, and in alignment with goals

Question 47

Product Manager

Answer 47

the person who identifies the customer need and the larger business objectives that a product

Question 48

Product Owner

Answer 48

solely responsible for maintaining the Product Backlog