PM Processes Flashcards
What is the Delphi Technique?
A form of gathering expert opinions in which members of a group are asked or polled anonymously. Aims to leverage the expertise of individuals while minimizing the influence of group dynamics.
Describe a Delphi estimating method.
Subject matter experts first estimate individually and then reach a consensus during a group discussion. Often used to achieve a convergence of opinion on a specific issue.
What are hygiene factors according to Frederick Herzberg?
Hygiene factors are elements that can cause dissatisfaction if not addressed, but do not necessarily motivate employees when present. Examples include company policies, supervision, salary, interpersonal relations, and working conditions.
What are motivational factors according to Frederick Herzberg?
Motivational factors include matters that relate to the content of the work, such as achievement, growth, and advancement.
Decision Tree Analysis
A diagramming and calculation technique for evaluating the implications of a chain of multiple options in the presence of uncertainty.
Expected Monetary Value (EMV)
A quantitative method of calculating the average outcome when the future is uncertain. The calculation of EMV is a component of decision tree analysis. Opportunities will have positive values and threats will have negative values.
For agile projects, who is accountable for the development of any features or components of the system?
The product owner. On Agile projects, while some specialist might be engaged to develop some specific parts of the project, the overall team is responsible for the entire system development and all its components. However the accountability lies with the product owner.
What steps are required when you have to hire an expert that was not accounted for in the original project plan?
The scenario will result in a budget issue. You need to analyze the costs of hiring an expert along with other schedule impacts due to hiring time requirements and a new resource coming up to speed, etc. Once you quantify all these impacts, you need to issue a change request seeking the adjustments to project baselines.
A government agency contacts your company in regard to a possible tax fraud committed by a finance employee at the company. What should you do?
Contact the appropriate management to ask them how to proceed.
Your organization may wish to conduct its own investigation and provide a coordinated communications channel with the agency. Independently deciding to share or not share information with the agency without involving your company’s management may be a violation of the company’s policies. Further, sharing confidential information without approval of your organization, regardless of the requesting party, is a violation of the PMI Code of Ethics and Professional Conduct.
What is CPI?
The Cost Performance Index (CPI)
CPI = EV/AC
Measures efficiency.
An earned value management (EVM) measure that indicates how efficiently the work is being performed with regard to the budgeted cost of the work.
Ratio. <1 is bad, >1 is good.
[PMBOK 7p100] (Domain: Process, Task 5)
Variance at Completion (VAC)
A formula that measures a project’s actual cost, compared with the budgeted amount. It is the difference from the budget at completion (BAC) and the estimate at completion (EAC). The formula is VAC = BAC – EAC.
Earned Value Management (EVM)
A methodology that combines scope, schedule, and resource measurements to assess project performance and progress.
What does a Cost Performance Index (CPI) of more than 1.0 indicate?
The project is under budget.
NOT necessarily that the project is ahead of schedule.
The CPI is calculated as the earned value divided by the actual cost. While EVM considers schedule, a CPI of greater than one simply indicates that you have spent less than you forecasted to this point.
Where would a project manager find documentation on the requirements for formal deliverable acceptance and on how non-conforming deliverables can be addressed?
In the agreement
NOT In the SOW.
When projects are performed for external customers, requirements for formal deliverable acceptance and how to address non-conforming deliverables are usually defined in the project agreements. [PMBOK7 p191] (Domain: Process, Task 11)
You are developing an online complaint management system. Recently the product owner has requested you to drop a feature from the current iteration plan that was earlier requested by the compliance department. What should you do?
Drop the feature from the iteration plan and notify compliance.
NOT Arrange a meeting between the product owner and compliance
The product owner is ultimately responsible and accountable for the product being developed. If the product owner has requested to drop a feature from the current iteration plan, that decision needs to be honored. To manage the stakeholder expectation at compliance, notifying compliance of the change is a good idea. [Agile Practice Guide, 1st edition, Page 41] (Domain: Business Environment, Task 1)
Some key stakeholders in a project suggested scope changes. Your team has analyzed the impact of these changes and presented the analysis to the Change Control Board (CCB) for approval. What should be your next step if the CCB accepts all proposed changes?
Revise cost estimates, schedule dates, resource requirements, and planning documents
NOT Implement the change request and update stakeholders
Approved change requests require changes to cost estimates, resource requirements, schedule dates and activity sequences. You should incorporate these revisions first before asking your team to implement the changes. Stakeholders can be updated after making the changes. Therefore, your first step is revising the estimates and baselines. [PMBOK7 p186-187] (Domain: Process, Task 9)
What do changes in scope require?
Approved scope change requests require changes to cost estimates, resource requirements, schedule dates and activity sequences.
If someone in your organization files a complaint against a project manager regarding his project management certification, what should be your response as a senior project manager?
Ask them to provide evidence to support his or her allegations.
One of the mandatory standards in the PMI Code of Ethics and Professional Conduct is respect. A project manager must listen to others’ points of view and understand them. [PMI Code of Ethics and Professional Responsibility] (Domain: Business Environment, Task 1)
What activities does a root cause analysis include?
Root cause analysis includes all of the following:
Problem identification,
Discovery of the underlying causes of a problem
Development of preventive actions
[PMBOK7 p177] (Domain: Process, Task 7)
What contract model will transfer risk to the seller?
Fixed price contract
A fixed-price contract enables the buyer to transfer risk to the seller. [PMBOK7 p191] (Domain: Process, Task 11)
Which document defines the total scope of the project, is the source of truth and represents the work specified in the current approved project scope statement?
Work Breakdown Structure (WBS)
NOT Project Charter
The WBS is a hierarchical decomposition of the work to be performed by the project team. It defines the total scope of the project. It represents the work specified in the currently approved project scope statement. [PMBOK7 p84-85] (Domain: Process, Task 8)
