PMP: Guide to PM Body of Knowledge

Question 1

Leading Indicators for future performance to measure performance domain

Answer 1

-Backlog
-Project size
-Lack of processes that cause project to go off track
-Unavailable stakeholders

Question 2

Establish effective measures with

Answer 2

KPIs
OKRs

Question 3

Lagging Indicators for things that already happened and are measurable

Answer 3

-Completed deliverables
-Schedule
-Consumed resources

Question 4

What can we measure as part of the project?

Answer 4

-Delivery
-Baseline performance (schedule start & finish dates, schedule variance, feature completion rates, actual vs planned costs, planned vs uses resources)
-Consumed resources
-Business value
-Stakeholder satisfaction
-Budgets
-Forecasts

Question 5

Measure Delivery

Answer 5

-How much is WIP
-Lead Time
-Cycle Time
-Process efficiency

Question 6

Measure business value

Answer 6

-Cost to Benefit ratio *
-Planned vs actual benefits delivery
-ROI
-NPV (net present value; eval profitability of a project by taking present value of cash flow over time)

Question 7

Measure stakeholders

Answer 7

-NPS
-Mood chart
-Morale
-Turn over (disengaged stakeholder teams)

Question 8

Project Forecasts

Answer 8

-Estimate to complete
-Estimate at completion
-Throughput Analysis (cycle time, lead time, delivered features)

Question 9

Presenting Information

Answer 9

-Dashboards
-Visual controls (kanban, burndown, list of blockers)
-Info (low tech, high touch) , visible backlog, burndown, risks

Question 10

Hawthorne Effect-pitfalls

Answer 10

-what we measure influences behavior (if deliver quickly, get bonus)

Question 11

Vanity Metrics-pitfalls

Answer 11

Data, but not actionable

Question 12

Demoralization- pitfalls

Answer 12

Project not achievable and team does not work as hard