PLANNING 24% Slide 134 Flashcards
List the following processes in the order in which they should be completed: • Create WBS • Collect Requirements • Plan Scope Management • Define Scope
Planning • Scope Management • Plan Scope Management
Although iterative, the general order is as follows: 1) Plan Scope Management 2) Define Scope 3) Collect Requirements 4) Create WBS
The project management plan uses the
______ process to react to the realities of a constantly changing project environment.
Planning • Scope Management • Plan Scope Management
Change Control
When the Develop Project Management Plan (4.2) process initially begins, it is a fully fledged and comprehensive plan. True or False:
Planning • Integration Management • Develop Project Management Plan
False At this point in the project, the project management plan is merely a “shell”, and likely only contains or references the project charter, business documents, and the stakeholder register.
Which input feeds into the Develop Project Management Plan (4.2) process to be the foundational input to opening the project management plan?
Planning • Scope Management • Plan Scope Management
Project charter
A project _____ meeting is a common practice to clearly communicate project objectives and
build team and stakeholder buy-in.
Planning • Scope Management • Plan Scope Management
Kick-off
What is the major output created
by the four scope management
processes in the Planning
Process Group?
Planning • Scope Management • Plan Scope Management
Scope baseline
_______ defines all the necessary work that is required
to complete the project.
Planning • Scope Management • Plan Scope Management
Project scope
The development of other plans often produces additional information and realizations that make it necessary to refine the scope and resource management plans. True or False:
Planning • Integration Management • Develop Project Management Plan
True
The planning process is iterative.
As each plan is created, it is very
common to adjust the scope.
A ______ is a condition or capability that must be present in the finished product to satisfy
a business need.
Planning • Scope Management • Collect Requirements
Requirement
Why is the Collect Requirements
(5.2) process completed before the
Define Scope (5.3) process?
Planning • Scope Management • Define Scope
The Collect Requirements process transforms
highlevel requirements
into clear objectives required to
define the scope of the project.
What is the difference between requirements documentation and requirements traceability matrix?
Planning • Scope Management • Collect Requirements
The requirements documentation
serves to clearly define all potential
project requirements needed for
creating the scope baseline.
The requirements traceability matrix organizes and presents the requirements in a visual manner that links each requirement to the individual deliverables that satisfy it.
______ documentation details how each requirement
supports the project’s business needs.
Planning • Scope Management • Collect Requirements
Requirements
The ____________ is used to
track the status of requirements
throughout the project.
Planning • Scope Management • Collect Requirements
Requirements
traceability matrix
A trained facilitator is often used in
the _______ process to obtain requirements from stakeholders and others with expert judgement.
Planning • Scope Management • Collect Requirements
Collect
Requirements
What is the definition of an
affinity diagram?
Planning • Scope Management • Collect Requirements
An affinity diagram classifies
requirements into distinct
groups for review and analysis.
_______ a model of the
potential product and providing it for review can be a fast and inexpensive method for obtaining
feedback on requirements.
Planning • Scope Management • Collect Requirements
Prototyping
A well-defined scope statement
creates clear boundaries,
reducing _______.
Planning • Scope Management • Define Scope
Scope creep
What is the project scope
statement?
Planning • Scope Management • Define Scope
Definition of the project and product scope,
major deliverables, assumptions, and
constraints.
The statement
clearly defines what is and is not
in the project scope.
What is the difference between
project scope and product scope?
Planning • Scope Management • Define Scope
Project scope describes the work
performed to deliver a product,
service, or result.
Product scope describes the
features and functions of the
actual product, service, or result.
Three documents comprise the
scope baseline: _____, ______ ,_______
Planning • Scope Management • Create WBS
• Scope statement
• Work breakdown
structure (WBS)
• WBS dictionary
The lowest level of work in the WBS is
referred to as the work package.
True or False:
Planning • Scope Management • Create WBS
True The work package is the lowest level of the WBS and represents the smallest amount of work for which cost and duration can be estimated and managed.
The WBS should follow the \_\_\_\_\_\_\_\_\_\_ rule: the total of all work at the lowest level (work packages) should “roll up” so that nothing is left out and no extra work is performed.
Planning • Scope Management • Create WBS
100%
The _______ and ______
are two major scheduling approaches.
Planning • Schedule Management • Plan Schedule Management
Critical path
method; agile
List the following processes in the order in which they should be completed: • Define Activities • Plan Schedule Management • Sequence Activities • Develop Schedule • Estimate Activity Durations
Planning • Schedule Management • Plan Schedule Management
1) Plan Schedule Management
2) Define Activities
3) Sequence Activities
4) Estimate Activity Durations
5) Develop Schedule
The _______ process describes
the actions that deliver the
deliverables created by the Create
WBS (5.4) process.
Planning • Schedule Management • Define Activities
Define Activities
An _____ is a distinct,
scheduled portion of work to
be performed.
Planning • Schedule Management • Define Activities
Activity
Why is the Create WBS (5.4) process
completed before the Define
Activities (6.2) process?
Planning • Schedule Management • Define Activities
The Create WBS process identifies
the work packages needed to satisfy
the project deliverables.
The Define Activities process is the first step in
transforming the work packages into
the detailed schedule of activities
that the team will complete.
Activity attributes evolve and
deepen in description as the
project progresses.
True or False:
Planning • Schedule Management • Define Activities
True
_______ have zero duration.
They define a point in time, not an
activity.
Planning • Schedule Management • Define Activities
Milestones
What is rolling wave planning?
Planning • Schedule Management • Sequence Activities
Rolling wave planning is an iterative technique to define
activities where the near-term work is planned in detail and later work is planned at a high level.
Which of the following relationship types is the most common of the precedence diagramming method? A) Finish to start (FS) B) Finish to finish (FF) C) Start to start (SS) D) Start to finish (SF)
Planning • Schedule Management • Sequence Activities
A) Finish to start (FS).
The successor cannot start until
the predecessor has finished.
Which of the following relationship types is the least common of the precedence diagramming method? A) Finish to start (FS) B) Finish to finish (FF) C) Start to start (SS) D) Start to finish (SF)
Planning • Schedule Management • Sequence Activities
D) Start to finish (SF)
The successor cannot finish
until predecessor has started.
What is the difference between
mandatory and discretionary
dependencies?
Planning • Schedule Management • Sequence Activities
Mandatory dependencies are
required by the nature of the work
or are legally or contractually
required.
Discretionary dependencies are
not mandatory, but are preferred,
usually based on best practices.
________ moves a successor LEFT (earlier);
________ moves a successor RIGHT (later).
Planning • Schedule Management • Sequence Activities
Lead;
lag
_______ are calculated in terms of the number of work
periods needed to complete an activity.
Planning • Schedule Management • Estimate Activity Durations
Duration estimates
What two outputs produced by the Estimate Activity Durations (6.4) process are leveraged by the Develop
Schedule (6.5) process to produce the project schedule?
Planning • Schedule Management • Estimate Activity Durations
- Duration estimates
* Basis of estimates
Duration estimates do not contain
any lags.
True or False:
Planning • Schedule Management • Estimate Activity Durations
True
Which of the following estimating techniques is less costly and time consuming, but also the least accurate? A) Parametric estimating B) Analogous estimating C) Bottom-up estimating D) Three-point estimating
Planning • Schedule Management • Estimate Activity Durations
B) Analogous estimating Analogous estimating uses historical data from similar projects to produce a gross value estimate for a project’s activity duration.
Which of the following estimating techniques uses a statistical or numerical relationship to calculate activity durations? A) Parametric estimating B) Analogous estimating C) Bottom-up estimating D) Three-point estimating
Planning • Schedule Management • Estimate Activity Durations
A) Parametric estimating
________ estimating requires significant resources and time, but can be very accurate.
Planning • Schedule Management • Estimate Activity Durations
Bottom-up estimating
This technique aggregates
estimates of individual
lower-level activities.
Which of the following estimating techniques
uses the triangular distribution mathematical
equation to incorporate risk and uncertainty
into the estimate?
A) Bottom-up estimating
B) Parametric estimating
C) Three-point estimating
D) Analogous estimating
Planning • Schedule Management • Estimate Activity Durations
C) Three-point estimating
What’s the difference between
contingency reserves and
management reserves?
Planning • Cost Management • Estimate Costs
Contingency reserves address known-unknowns (for example, the project manager expects rework but the exact amount is unknown).
Management reserves
address unknown-unknowns
(unforeseen work).
When creating the cost baseline in the Determine Budget process, \_\_\_\_\_\_\_\_ reserves are included in the baseline, but \_\_\_\_\_\_\_\_ reserves are not included.
Planning • Cost Management • Determine Budget
Contingency;
management
Which of the following is not a core objective of
the Planning Process Group?
A) Define the project scope and objectives
B) Define the plans that will govern the
project
C) Identify, evaluate, and implement changes
D) Develop a course of action
Planning • Integration Management • Develop Project Management Plan
C) The identification, evaluation, and implementation of changes within the project is one of the two core objectives of the Monitoring and Controlling Process Group.
The second core objective of the
Monitoring and Controlling Process
Group is to track, regulate, and
review process completion.
The \_\_\_\_\_\_\_ process builds on the progress started with the charter by defining in greater detail how the project will be executed, monitored and controlled, and closed.
Planning • Integration Management • Develop Project Management Plan
Develop Project Management Plan
After the time, scope, and cost baselines are defined within the project management plan, all future
changes can be made only through the _______ process.
Planning • Integration Management • Develop Project Management Plan
Perform Integrated Change
Control process (included in
the Monitoring and Controlling
Process Group)
List the following processes in the order in which they should be completed: • Identify Risks • Plan Risk Management • Perform Qualitative Risk Analysis • Plan Risk Responses • Perform Quantitative Risk Analysis
Planning • Risk Management • Plan Risk Management
1) Plan Risk Management
2) Identify Risks
3) Perform Qualitative Risk
Analysis
4) Perform Quantitative Risk
Analysis
5) Plan Risk Responses
The project management plan consolidates all subsidiary plans and project baselines. Which of the following is not one of the three project baselines? A) Scope baseline B) Schedule baseline C) Benefits baseline D) Cost baseline
Planning • Integration Management • Develop Project Management Plan
C) Benefits baseline
The benefits baseline is not
one of the project’s three core
baselines.
What is name of the plan that
documents how the project and
product scope will be defined,
validated, and controlled?
Planning • Scope Management • Plan Scope Management
Scope management plan
Which document visually translates the project
deliverables into small, manageable components?
Planning • Scope Management • Create WBS
Work breakdown structure (WBS)
The __________ process describes
how the product and project
requirements will be analyzed,
documented, and managed.
Planning • Scope Management • Plan Scope Management
Requirements Management Plan (also
known as the business
analysis plan)
What is the definition of a
requirement?
Planning • Scope Management • Collect Requirements
A requirement is a condition/
capability that must be present
in the finished product to satisfy
a business need.
What are the two key outputs of the
Collect Requirements process?
Planning • Scope Management • Collect Requirements
Requirements documentation
and requirements traceability
matrix
The requirement documentation
details how each requirement _____ the project’s
business need.
Planning • Scope Management • Collect Requirements
Supports
The requirements traceability
matrix links each requirement to the
individual _____ that satisfy the requirement.
Planning • Scope Management • Collect Requirements
Deliverable
Which data gathering technique used to collect requirements involves observing and comparing similar, products, practices, processes, or companies?
Planning • Scope Management • Collect Requirements
Benchmarking
Which data representation technique
involves classifying large numbers of
ideas into distinct groups for review
and analysis?
Planning • Scope Management • Collect Requirements
Affinity diagramming
The \_\_\_\_\_\_ process builds on the Collect Requirements process, selecting and defining the final requirements list in detail and crafting a descriptive scope statement.
Planning • Scope Management • Define Scope
Define Scope
What is scope creep?
Planning • Scope Management • Define Scope
Scope creep is the
expansion of project
work beyond the
project boundaries.
What is the one key output of the
Define Scope process?
Planning • Scope Management • Define Scope
Project scope statement
The project scope statement provides a detailed definition of the project and product scope, major deliverables, assumptions, and constraints.
The \_\_\_\_\_\_\_\_\_ process translates the project scope statement (created in the 5.3 Define Scope process) into an actionable list of work that must be delivered.
Planning • Scope Management • Create WBS
Create WBS
What is the key output created by
the Create WBS process?
Planning • Scope Management • Create WBS
Scope baseline
The scope baseline consists of
the scope statement, WBS, and
WBS dictionary.
The ________ establishes
the standard by which work
completion is compared
throughout the project.
Planning • Scope Management • Create WBS
Scope baseline
“Work” refers to the deliverables
produced, not the activities that
produce the deliverables.
True or False:
Planning • Scope Management • Create WBS
True Using an example of a project to dig a long ditch, the work would be defined as the completed ditch, not the activities required to dig the ditch.
What information does the WBS
dictionary provide?
Planning • Scope Management • Create WBS
The WBS dictionary provides
detailed information on the
delivery, activity, and schedule of
every component in the WBS.
Name the technique used to create
the WBS by subdividing the scope
into progressively smaller, more
manageable parts.
Planning • Scope Management • Create WBS
Decomposition
Define a work package.
Planning • Scope Management • Create WBS
lowest level of the WBS.
smallest amount of work for
which cost and duration can be
estimated and managed.
How is the 100% rule used?
Planning • Scope Management • Create WBS
The 100% rule is used to confirm that the total of all work at the lowest level (work packages) “rolls up” to the higher level in a way that no work is omitted and no extra work is performed.
The schedule management processes in the Planning Process Group progressively translate the _____ of the scope baseline into a logically sequenced work schedule.
Planning • Schedule Management • Plan Schedule Management
Deliverables
What is the purpose of the Define
Activities process?
Planning • Schedule Management • Define Activities
The Define Activities (6.2) process describes the actions that deliver
the deliverables defined by the Create WBS (5.4) process
What are the three key outputs
produced by the Define Activities
process?
Planning • Schedule Management • Define Activities
Activity list, activity attributes, and
milestone list
What is the definition of an
activity?
Planning • Schedule Management • Define Activities
An activity is a distinct, scheduled portion of work
to be performed.
The _______ displays all of the specific actions required
to produce the work packages defined in the WBS.
Planning • Schedule Management • Define Activities
Activity list
__________ extend the description of activities defined in the activity list, providing details on the effort
type and work location.
Planning • Schedule Management • Define Activities
Activity attributes
Activity attributes evolve and
deepen in description as the
project progresses
The _______ document frames the schedule constraints
impacting the project.
Planning • Schedule Management • Define Activities
Milestone list The milestone list is created as an output of the Define Activities process. The defined milestones identify significant points/events that are used in creating the detailed schedule.
The process \_\_\_\_\_\_\_ aims to organize the activities into a schedule network diagram that graphically shows the order in which work will be completed.
Planning • Schedule Management • Sequence Activities
Sequence Activities
What is the key output produced
by the Sequence Activity process?
Planning • Schedule Management • Sequence Activities
Project schedule network diagram
The project schedule network
diagram shows the logical
relationships of all activities from
start to finish.
Would the software required to build
a network diagram be classified as an
EEF or OPA?
Planning • Schedule Management • Sequence Activities
EEF
The software design is outside of
the control of the company and
therefore an EEF.
What is the most common
relationship type in precedence
diagramming?
Planning • Schedule Management • Sequence Activities
Finish to start When two activities have a finish-to-start relationship, the successor cannot start until the predecessor has finished
The _______ process brings depth and perspective to the network diagram by defining the amount of effort and resources each activity demands.
Planning • Schedule Management • Est. Activity Durations
Estimate Activity Durations
The _______ process analyzes
all schedule data, created by processes 6.2 to 6.4, to define a comprehensive final schedule model
and schedule baseline.
Planning • Schedule Management • Develop Schedule
Develop Schedule
The ___________ is the approved version of the schedule model used to evaluate actual vs. planned
progress throughout the project.
Planning • Schedule Management • Develop Schedule
Schedule baseline
All project baselines must be
approved by the project sponsor.
True or False:
Planning • Schedule Management • Develop Schedule
True
All project baselines must be
approved by the project sponsor
What key output created by the Develop Schedule process fully presents the planned start and finish dates for all activities in a clear visual format?
Planning • Schedule Management • Develop Schedule
Project schedule
What is free float?
Planning • Schedule Management • Develop Schedule
Free float is the measure of the amount of time an activity can be delayed without delaying the early start of a successor activity.
What is the difference between
free float and total float?
Planning • Schedule Management • Develop Schedule
Free float is the amount of time an
activity can be delayed without
delaying the early start of a
successor activity.
Total float is the amount of time
an activity can be delayed without
delaying the project finish date.
What is the difference between crashing activities and fast tracking activities?
Planning • Schedule Management • Develop Schedule
Crashing refers to the addition of resources to reduce the time required to complete an activity.
Fast tracking refers to the reorganization of sequential
activities into parallel activities to reduce the time required to complete the activities.
Which question explores the
opportunity for fast tracking
activities?
“Could these activities be done in
parallel?” or “How much faster
could this be done if we added
resources?”
Planning • Schedule Management • Develop Schedule
“Could these activities
be done in parallel?”
What is the largest negative impact of crashing that must be evaluated and accounted for?
Planning • Schedule Management • Develop Schedule
Additional cost
The Estimate Costs (7.2), Estimate Activity Durations (6.4), and Estimate Activity Resources (9.2) processes all have similar output structures. What are the
three key outputs produced by each of these processes?
Planning • Cost Management • Estimate Costs
Estimates, basis of estimates, and project document updates
The process _______ develops an approximation of the
project’s total monetary resource need that is used in the Determine Budget process to create the cost baseline.
Planning • Cost Management • Estimate Costs
Estimate Costs
The _________ explains the logic behind each cost estimate, allowing the team to understand how the costs were derived.
Planning • Cost Management • Estimate Costs
Basis of estimates
What are the triangular and beta distribution three-point
estimating equations?
Planning • Cost Management • Estimate Costs
Triangular distribution:
cE = (cO + cM + cP) / 3
Beta distribution:
cE = (cO + 4*cM + cP) / 6
- Most likely (cM)
- Best case (cO)
- Pessimistic (cP)
The __________ produced by the Estimate Costs (7.2) process are used to create the cost baseline in the
Determine Budget process.
Planning • Cost Management • Determine Budget
Cost estimates
The Determine Budget process creates the project’s budget and baseline by _______ the cost
estimates into a time-phased view.
Planning • Cost Management • Determine Budget
Aggregating
The project budget and cost baseline are different.
True or False:
Planning • Cost Management • Determine Budget
True
The project budget includes the
management reserve; the cost
baseline does not.
Which type of reserve accounts for
identified risks?
Planning • Cost Management • Determine Budget
The contingency reserve accounts for identified risks. In comparison, the management reserve accounts for unplanned work.
Quality planning should be
performed in ___________ with
other planning processes.
Planning • Quality Management • Plan Quality Management
Parallel
The realities of meeting quality
standards may impact cost and
schedule plans.
The cost of preventing mistakes
is ____________ than the cost
of correcting mistakes found by
inspection or use.
Planning • Quality Management • Plan Quality Management
Less
The __________ describes the
activities and resources necessary
for the project team to achieve the
project’s quality objectives.
Planning • Quality Management • Plan Quality Management
Quality management plan
The quality management plan also defines procedures for addressing nonconformance, corrective actions, and continuous improvement.
Quality metrics defined in the Plan Quality Management process are used in later processes to determine the overall quality status and communicate status to stakeholders. True or False:
Planning • Quality Management • Plan Quality Management
True
Quality metrics describe a product attribute and how the
Control Quality process will verify compliance to it.
What two components comprise the
cost of quality?
Planning • Quality Management • Plan Quality Management
Cost of conformance and
cost of nonconformance
The cost of conformance includes what two types of costs?
Planning • Quality Management • Plan Quality Management
Prevention and appraisal costs
Prevention costs are those associated
with building quality into a product
(training, equipment, etc).
Appraisal costs are those associated
with assessing the quality (testing,
destructive testing loss, inspection).
The cost of quality (COQ) only considers the cost incurred while completing the project’s physical work.
True or False:
Planning • Quality Management • Plan Quality Management
False
The cost of quality includes all
quality-related costs over the
entire life of the project
What is the difference between the project charter and team charter?
Planning • Resource Management • Plan Resource Management
The project charter is the
foundational document that
authorizes the existence of
the project.
The team charter defines the team’s agreed-upon
operating guidelines.
What is the purpose of the resource management
processes?
Planning • Resource Management • Plan Resource Management
The resource management processes ensure that sufficient resources are available at the right place and right time to complete the project work.
Which chart type is commonly used in the Plan Resource Management process to clarify and define the roles and responsibilities of each team member?
Planning • Resource Management • Plan Resource Management
RACI chart The responsibility assignment chart (RACI) clarifies the roles of each team member (Responsible, Accountable, Consult, Inform).
Working directly with the Estimate Costs process, the \_\_\_\_\_\_\_\_ process approximates the total physical and human resources needs of the project.
Planning • Resource Management • Est. Activity Resources
Estimate Activity
Resources
What is the primary output of the Estimate Activity Resources process that defines what is needed to complete every work package and activity defined on the WBS?
Planning • Resource Management • Est. Activity Resources
Resource
requirements
The _________ organizes the resource estimates into a
hierarchical chart that can be used to help acquire and monitor resources.
Planning • Resource Management • Est. Activity Resources
Resource breakdown structure
In which resource estimating technique are similar activities from previous projects used to
estimate resource needs?
Planning • Resource Management • Est. Activity Resources
Analogous
estimating
When lower-level components are “rolled up” to create an estimate of the higher-level activities, what estimating activity is being leveraged?
Planning • Resource Management • Est. Activity Resources
Bottom-up
estimating
Throughout the Resource Estimating process, various options must be evaluated to determine the optimal
resource solution given the project’s constraints. Which data analysis technique does this describe?
Planning • Resource Management • Est. Activity Resources
Alternative
analysis
Which two documents must be
updated to reflect the planned
communications activities?
Planning • Communications Mgmt. • Plan Communications Mgmt.
Project schedule and stakeholder register
How are the stakeholder register
and requirements documentation
leveraged in the creation of the
communications management plan?
Planning • Communications Mgmt. • Plan Communications Mgmt.
Stakeholder communication needs were determined during the development of the stakeholder register and requirements documentation.
The communications
management plan creates
strategies to address each need
Define the steps in a basic
sender-reciever communications
model.
Planning • Communications Mgmt. • Plan Communications Mgmt.
Encode, transmit,
decode
Encode = Message put in text/sound
for transmission
Transmit = Message sent via
communication channel
Decode = Data translated by
reciever into a usable form
Name the three most common
communication methods.
Planning • Communications Mgmt. • Plan Communications Mgmt.
Interactive, push, pull
Interactive = Multidirectional
communication
Push = Sent to specific recipients,
but no confirmation that the
information is understood
Pull = Allows content access at the
user’s own discretion
____________ is anything
compromising the understanding of
a communicated message.
Planning • Communications Mgmt. • Plan Communications Mgmt.
Noise
Noise can be caused by a receiver
being distracted or lacking adequate
perception and/or knowledge.
What is the equation for calculating
communication channels?
Planning • Communications Mgmt. • Plan Communications Mgmt.
Communication channels
= N x (N - 1) / 2
N = number of
stakeholders
By posting project updates at regularly scheduled intervals on a corporate intranet page that is accessible to all stakeholders, a project team is using which method of communications?
Planning • Communications Mgmt. • Plan Communications Mgmt.
Pull Pull communications allow content access at the user’s own discretion. This is ideal when communicating with large audiences or transmitting complicated information.
One-on-one meetings are an example
of which type of communication
method?
Planning • Communications Mgmt. • Plan Communications Mgmt.
Interactive Interactive communication involves multi-directional communication between two or more parties.
List the following processes in the order in which they should be completed: • Plan Risk Management • Plan Risk Responses • Perform Qualitative Risk Analysis • Identify Risks • Perform Quantitative Risk Analysis
Planning • Risk Management • Plan Risk Management
The risk management processes in the Planning Process Group are completed as follows: 1) Plan Risk Management 2) Identify Risks 3) Perform Qualitative Risk Analysis 4) Perform Quantitative Risk Analysis 5) Plan Risk Responses
Which type of risk describes an
uncertain event or condition?
Planning • Risk Management • Plan Risk Management
Individual risk
Which type of risk describes the
total resulting effect of all risks
on a project?
Planning • Risk Management • Plan Risk Management
Overall risk
The Plan Risk Management process is focused on developing processes for identifying and analyzing risks and what other key risk activities?
Planning • Risk Management • Plan Risk Management
Developing and implementing
risk responses
In conducting the Plan Risk Responses process, the project team is focused on defining how risks will be both identified and managed to increase the chance of project success.
It is key that the team develop processes for developing and implementing risk responses to mitigate/ avoid negative risks and exploit/enhance positive opportunities.
Which document is created during
the Identify Risks process to
record specific details on every
individual project risk?
Planning • Risk Management • Identify Risks
Risk register
The risk register is a key output of
the Identify Risk process.
What are the two key outputs of
the Identify Risks process?
Planning • Risk Management • Identify Risks
Risk register and
risk report
Once created, the risk register and
risk report are not adjusted.
True or False (and Why?):
Planning • Risk Management • Identify Risks
False The risk register and risk report are continually adjusted to deepen the understanding of the current risk profile and to include additional risks identified.
Which document often used in the Identify Risks process leverages a predetermined list of risk categories that serve as a framework and starting point for identifying, describing, and planning for project risks?
Planning • Risk Management • Identify Risks
Prompt list
What factors are used to evaluate each risk on the risk register during the Qualitative Risk Analysis
process?
Planning • Risk Management • Perform Qual. Risk Analysis
probability of occurrence and impact
Qualitative risk analysis is subjective, as it based on perception of each risk’s probability of occurrence and impact.
Which process determines the aggregate effect of a project’s individual risks using the prioritized list of risks created as an output of the Perform Qualitative Risk Analysis process?
Planning • Risk Management • Perform Qual. Risk Analysis
Planning • Risk Management • Perform Qual. Risk Analysis
Quantitative Risk
Analysis process
What type of matrix is used to rank
each individual risk by two factors
(probability, impact)?
Planning • Risk Management • Perform Qual. Risk Analysis
Probability-impact
matrix
An S-curve is produced by which
type of risk analysis?
Planning • Risk Management • Perform Quant. Risk Analysis
Monte Carlo analysis The S-curve from a Monte Carlo risk analysis visually shows the probability of achieving any project outcome.
What is purpose of a tornado
diagram?
Planning • Risk Management • Perform Quant. Risk Analysis
determines which individual risk has the greatest
impact by correlating different project outcomes to individual risks.
The tornado diagram (used in 11.4 Perform Quantitative Risk
Analysis)
Which analysis method is used to
select the best of several alternative
courses of action?
Planning • Risk Management • Perform Quant. Risk Analysis
Decision tree analysis Decision tree analysis is a mathematical method in which alternate decision paths are shown and evaluated for their overall expected monetary value. The net path value is calculated for each and the decision path with the best value is selected.
What is the term for the strategies
developed to address risks
with highest impact overall and
individual risks?
Planning • Risk Management • Plan Risk Responses
Risk responses
_________ are fallback plans
developed for use if and when the
selected risk response strategies
don’t work.
Planning • Risk Management • Plan Risk Responses
Contingency plans
What are the two data analysis methods used to evaluate and select the preferred risk response strategies the during Plan Risk Responses process?
Planning • Risk Management • Plan Risk Responses
Alternative analysis and
cost-benefit analysis
Which of the following is not a desired characteristic of a proper risk response plan? A) Appropriate B) Cost-effective C) Timely D) Realistic
Planning • Risk Management • Plan Risk Responses
Timely
Risk response plans should be
appropriate, cost-effective,
and realistic.
What are the five alternative risk strategies that
must be considered when planning for threats?
A) Escalate, avoid, transfer, mitigate, accept
B) Escalate, avoid, expedite, mitigate, accept
C) Escalate, exploit, share, enhance, accept
D) Escalate, exploit, transfer, enhance, accept
Planning • Risk Management • Plan Risk Responses
A) Escalate, avoid,
transfer, mitigate,
accept
Which strategy for addressing risk threats involves shifting ownership of the threat to a third party so that it bears the impact if the threat occurs?
Planning • Risk Management • Plan Risk Responses
Transfer
Which output produced in the Plan Procurements Management process defines the procurement need in detail sufficient to allow the sellers to assess if they are capable of providing the work?
Planning • Procurement Mgmt. • Plan Procurement Mgmt.
Procurement
statement of work
Which type of contract is used
when the scope of work is
expected to change significantly
during the project?
Planning • Procurement Mgmt. • Plan Procurement Mgmt.
Cost-reimbursable contract
The seller is reimbursed for all allowable costs (per contract).
Which documents produced as
outputs of the Plan Procurement
Management process must not be
provided to the potential sellers?
Planning • Procurement Mgmt. • Plan Procurement Mgmt.
Source selection criteria and
independent cost estimates
Source selection criteria provide an objective means to evaluate each proposal in order to select the seller offering the greatest overall value. Independent cost estimates provide a frame of reference for evaluating bids submitted. These documents are for internal project team use only!
Which plan documents the specific actions and strategies used to deliver the desired level of stakeholder engagement and what process creates it?
Planning • Stakeholder Management • Plan Stakeholder Engagement
Stakeholder management
plan, which is created as an
output of the Plan Stakeholder
Engagement process
The stakeholder engagement
matrix is used to visually compare
which two levels of stakeholder
engagement?
Planning • Stakeholder Management • Plan Stakeholder Engagement
Current vs. desired
engagement
Which document created by the Identify Stakeholder process is a key input to the Plan Stakeholder Management process, helping to provide detailed stakeholder information?
Planning • Stakeholder Management • Plan Stakeholder Engagement
Stakeholder
register
