PPT 2 - CH4

Question 1

• Includes the processes and activities to Identify, Define, Combine, Unify, Coordinate the various Processes and Activities of the Project within the Process Group.

Answer 1

Project Integration Management

Question 2

• Integration Management is specific to

Answer 2

Project Managers .

Question 3

• It is a document that formally authorizes the existence of a project

Answer 3

Project Charter
* A project charter is not a contract!

Question 4

• A documented economic feasibility study used to establish the validity of the benefits of a selected component lacking sufficient definition and that is used as a basis for the authorization of further project management activities.

Answer 4

Business Case

Question 5

• It is used to establish the internal agreements within an organization

Answer 5

Project Charter
* A project charter is not a contract!

Question 6

• It provides the project manager the authority to apply organizational resources to project activities

Answer 6

Project Charter
* A project charter is not a contract!

Question 7

Agreements

Answer 7

• Contracts
• Memorandum of Understanding
• Service Level Agreements
• Letters of Agreement
• Letters of Intent
• Verbal Agreements
• Email
• Or other written agreements

Question 8

Tools and Techniques in Project Charter Development
* Expert Judgment

Answer 8

o Organizational Strategy
o Benefits management
o Technical knowledge of the industry and focus area of the project
o Duration and budget estimation
o Risk identification

Question 9

Tools and Techniques in Project Charter Development
* Data Gathering

Answer 9

o Brainstorming
o Focus groups
o Interviews

Question 10

Tools and Techniques in Project Charter Development
* Interpersonal and Team Skills

Answer 10

o Conflict management
o Facilitation
o Meeting management

Question 11

Tools and Techniques in Project Charter Development

Answer 11

• Expert Judgment
• Data Gathering
• Interpersonal and Team Skills
• Meetings

Question 12

• It is a high level information on the project.

Answer 12

Project Charter

Question 13

• It contains the following information:
  o Project purpose
  o Measurable project objectives and related success criteria
  o High level requirements
  o High level project description, boundaries, and key deliverables
  o Overall project risk
  o Summary milestone schedule
  o Preapproved financial resources
  o Key stakeholder list
  o Approval requirements
  o Exit Criteria
  o Assigned project manager, responsibility, and authority level
  o Name and authority of the sponsor or other person(s) authorizing the project charter.

Answer 13

Project Charter

Question 14

Includes:
* Measurable project objectives and related success criteria High level project description, boundaries, and key deliverables
* Summary milestone schedule
* Preapproved financial resources
* Key stakeholder list
* Approval requirements
* Exit Criteria Boundaries, and key deliverables

Answer 14

Scope Statement

Question 15

provides maximum flexibility; minimizes contractor profits;

Answer 15

cost-plus-free contract

Question 16

minimizes negotiations and preliminary specification costs; permits quicker start, earlier completion

Answer 16

cost-plus-free contract

Question 17

permits choice of best-qualified, not lowest-bidding, contractor; permits use of same contractor from construction to completion, usually increasing quality and efficiency

Answer 17

cost-plus-free contract

Question 18

no assurance of final cost; no financial incentive to minimize time and cost

Answer 18

cost-plus-free contract

Question 19

permits specification of high-cost features by owner’s staff; permits excessive design changes by owner’s staff increasing time and costs

Answer 19

cost-plus-free contract

Question 20

provides firm assurance of ultimate cost at earliest possible date; insures prompt advice to owner of delays and extra costs resulting from changes

Answer 20

guaranteed maximum share savings or fixed lump sum

Question 21

provides incentive for quickest completion; owner and contractor share financial risk and have mutual incentive for possible savings; ideal contract to establish owner-contractor cooperation throughout execution of project

Answer 21

guaranteed maximum share savings

Question 22

requires complete auditing by owner’s staff; requires completion of definitive engineering before negotiation of contract

Answer 22

guaranteed maximum share savings

Question 23

requires minimum owner follow-up on work; provides maximum incentive for quickest completion at lowest cost; involves minimal auditing by owner’s staff

Answer 23

fixed price/lump sum

Question 24

requires exact knowledge if what is wanted before contract award; requires substantial time and cost to develop inquiry specs, solicit, and evaluate bids. delays completion 3-4 months

Answer 24

fixed price/lump sum

Question 25

high bidding costs and risks may reduce qualified bidders; cost may be increased by excessive contingencies in bids to cover high-risk work

Answer 25

fixed price/lump sum

Question 26

essential same as cost-plus-fee contract; fixes slightly higher percentage of total cost; eliminates checking and verifying contractor's services

Answer 26

fixed price for services, materials, and labor

Question 27

may encourage reduction of economic studies and detailing of drawings, produce higher costs for operation, construction, and maintenance; other same disadvantages as cost-plus-fee contract

Answer 27

fixed price for services, materials, and labor

Question 28

maximum price assured for high percentage of plant costs; avoids excessive contingencies in bids for unpredictable and highly variable costs; permits selection of local suppliers and subcontractors by owner

Answer 28

fixed price for imported goods and services, local costs reimbursable

Question 29

same extended time required for inquiry specs, quotations, and evaluation as fixed lump-sum for complete project; requires careful definition of items supplied locally to insure comparable bids; no financial incentive to minimize field and local costs

Answer 29

fixed price for imported goods and services, local costs reimbursable

Question 30

* This is the process of defining, preparing, and coordinating all plan components and consolidating them into an integrated project management plan.

Answer 30

4.2 Develop the Project Management Plan

Question 31

* The plan defines how the project is executed, monitored and controlled, and closed

Answer 31

4.2 Develop the Project Management Plan

Question 32

* It is a comprehensive document that defines the basis of all project work and how the work will be performed.

Answer 32

4.2 Develop the Project Management Plan

Question 33

should be at least the scope, time, and cost (for reference and performance evaluation).

Answer 33

baselines

Question 34

What is the purpose of a baseline:

Answer 34

* Project execution can be compared and measured * Performance can be managed

Question 35

* This is the process of leading and performing the work defined in the project management plan * This is also the process of implementing approved changes * Benefit: increase the probability of success

Answer 35

4.3 Direct and Manage Project Work

Question 36

Software tools such as scheduling software tools, work authorization systems, etc. This is also the work performance reports.

Answer 36

Project Management Information System

Question 37

is any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project.

Answer 37

* Deliverables

Question 37

raw observations and measurements identified during activities being performed. It is often viewed as the lowest level of detail from which information is derived.

Answer 37

* Work Performance Data (WPD)

Question 38

Changes in the plan are for (section 4.3.3.4, PMBOK):

Answer 38

corrective action preventive action defect repair updates

Question 39

realigns the performance of the work to the project management plan

Answer 39

* Corrective action

Question 39

modify nonconforming product or its component

Answer 39

* Defect repair

Question 39

ensures the future performance of the work to the project management plan

Answer 39

* Preventive action

Question 40

changes to formally controlled project document, plans, etc. to reflect modified or additional contents

Answer 40

* Updates

Question 41

The most important part:

Answer 41

* Creating an atmosphere of trust so that people are motivated to share their knowledge (PMBOK 6e) * The instructor’s other thoughts: Teams will be disbanded after the project, the knowledge and lessons learned must be preserved.

Question 42

* This is the process of tracking, reviewing, and reporting the overall progress to meet the performance objectives defined in the project management plan.

Answer 42

4.5 Monitor and Control Project Work

Question 43

collecting, measuring, and assessing measurements and trends

Answer 43

* Monitoring

Question 43

determining corrective and preventive actions

Answer 43

* Controlling

Question 44

is gathered through work execution and passed through a controlling processes.

Answer 44

Work Performance Data (WPD)

Question 45

This is the process of * reviewing all change requests * Approving changes to deliverables, project documents and management plan * And communicating the decision

Answer 45

4.6 Perform Integrated Change Control

Question 46

This process allows for documented changes within the project. This is the ultimate responsibility of the project manager.

Answer 46

4.6 Perform Integrated Change Control

Question 47

* Finalizing all activities for the project, phase, or contract. * Information is archived, planned work completed, and organization team resources are released to pursue new endeavors.

Answer 47

4.7 Close Project or Phase