Project+ Study Notes 31

Question 1

are similar to KPIs, only they are used to set operational goals or performance levels for systems. These are usually represented as the minimum acceptable levels or values for the system. ??? are used primarily by government entities such as the Department of Defense and the U.S. Army in regard to military systems and equipment.

Answer 1

Key performance parameters (KPPs)

Question 2

is a strategic management tool used to measure the activities and processes a business uses to meet its strategic goals. It’s a way to determine whether the performance of the organization is measuring up to its goals. The ??? measures elements such as financial goals, business processes, innovation, the customer experience, and customer satisfaction.

Answer 2

balanced score card

Question 3

projects become their own ongoing business unit or the product or result of the project transitions into an existing business unit before the project is completed.

Answer 3

Addition (Project Ending) :

Question 4

When resources are cut off from the project or are no longer provided to the project, it’s starved prior to completing all the requirements, and you’re left with an unfinished project on your hands. Resource starving can include cutting back or withholding human resources, equipment and supplies, or money.

Answer 4

Starvation (Project Ending) :

Question 5

Other projects come about and take precedence over the current project, thereby cutting the funding or resources for your project. The customer curtails an order. The project budget is reduced. A key resource quits.

Answer 5

Starvation happens because :

Question 6

occurs when the resources of the project—people, equipment, and supplies— are distributed to other areas in the organization or are assigned to other projects. Your project will come to an end because of a lack of resources because they have been reassigned to other areas of the business or have been pulled from your project and assigned to another project.

Answer 6

Integration (Project Ending) :

Question 7

This is the best kind of project end because extinction means the project has been completed and accepted by the stakeholders. As such, it no longer exists because it had a definite ending date, the goals of the project were achieved, and the project was closed out.

Answer 7

Extinction (Project Ending) :

Question 8

involves accepting the final product or service of the project and then turning it over to the organization. Obtaining formal written sign-off and acceptance of the project is the primary focus of the Closing phase.

Answer 8

Project closeout

Question 9

is important because it signals the official closure of the project, and it is your proof that the project was completed satisfactorily. Formal acceptance includes distributing notice of the acceptance of the project results to the stakeholders.

Answer 9

Documenting formal acceptance

Question 10

Another function of sign-off is that it kicks off the beginning of the warranty period and/or the transfer of the product to maintenance and operations. Sometimes project managers or vendors will warranty their work for a certain time period after completing the project. Projects that produce software programs, for example, might be warranted from bugs for a 60- or 90-day time frame from the date of implementation or the date of acceptance. Typically in the case of software projects, bugs are fixed for free during the warranty period. Watch out, because users will try to squeeze new requirements into the “bug” category mold. If you offer a warranty, it’s critical that the warranty spells out exactly what is covered and what is not.

Answer 10

Info