PM3110 Chapter 5

Question 1

Baseline

Answer 1

167 - the project’s scope fixed at a specific point in time

Question 2

Business case

Answer 2

149 - the organization’s justification for committing to the project.

Question 3

Conceptual development

Answer 3

148 - the process that addresses project objectives by finding the best ways to meet them.

Question 4

Configuration management

Answer 4

167 - relates to the fact that projects usually consist of component parts, all contributing to the project’s functionality. These parts must be individually developed and ultimately assembled, or configured, to ­produce the final product or service.

Question 5

Control systems

Answer 5

167 - ensure that any changes to the project baseline are conducted in a systematic and thorough manner.

Question 6

Cost Control accounts

Answer 6

159 - are assignable to various units engaged in performing project activities within the company.

Question 7

Cost-plus contracts

Answer 7

164 - fix the company’s profit for a project in advance.

Question 8

Deliverables

Answer 8

153 - defined as “any measurable, tangible, verifiable outcome, result, or item that must be produced to complete a project or part of a project.”

Question 9

Milestone

Answer 9

163 - a significant event in the project.

Question 10

(OBS) Organization Breakdown Structure

Answer 10

159 - allows companies to define the work to be accomplished and assign it to the owners of the work packages.

Question 11

Project Charter

Answer 11

151 - a document issued by the project initiator or sponsor that formally sanctions the existence of the project and authorizes the project manager to begin applying organizational resources to project activities.

Question 12

Project closeout

Answer 12

169 - requires project managers to consider the types of records and reports they and their clients will require at the completion of the project.

Question 13

Project scope

Answer 13

146 - is everything about a project—work content as well as expected outcomes. Project scope consists of naming all activities to be performed, the resources consumed, and the end products that result, including quality standards.

Question 14

Requirements gathering

Answer 14

148 - the demands, needs, and specifications for a product (project outcome) as outlined by project stakeholders. It is the list of ­customer needs.

Question 15

(RAM) Responsibility Assignment Matrix

Answer 15

160 - sometimes referred to as a linear responsibility chart. Although it is considered a separate document, it is often developed in conjunction with the WBS for a project.

Question 16

Scope baseline

Answer 16

153 - a document that provides a summary description of each component of the project’s goal, including basic budget and schedule information for each activity. Creation of the scope baseline is the final step in the process of systematically laying out all pre-work information

Question 17

Scope management

Answer 17

146 - the function of controlling a project in terms of its goals and objectives through the processes of conceptual development, full definition, execution, and termination. It provides the foundation upon which all project work is based and is, therefore, the culmination of predevelopment planning.

Question 18

Scope statement

Answer 18

153 - reflects a project team’s best efforts at creating the documentation and approval of all important project parameters prior to proceeding to the development phase.

Question 19

(SOW) Statement of Work

Answer 19

150 - a detailed narrative description of the work required for a project.

Question 20

Turnkey contracts

Answer 20

164 - From the perspective of the project organization, the most common contracts range from lump-sum or turnkey contracts, in which the project organization assumes all responsibility for successful performance

Question 21

WBS codes

Answer 21

158 - A company’s accounting function assigns these to each activity to allocate costs more precisely, to track the activities that are over or under budget, and to maintain financial control of the development process.

Question 22

Work authorization

Answer 22

161 - gives the formal “go ahead” to commence with the project.

Question 23

(WBS) Work Breakdown Structure

Answer 23

153 - divides the project into its component substeps in order to begin establishing critical interrelationships among activities.

Question 24

Work packages

Answer 24

156 - WBS elements of the project that are isolated for assignment to “work centers” for accomplishment.