PT M1 - Lists (Fundamentals & Core Concepts)

Question 1

2 Limits within a Control Chart

Answer 1

• Control Limit

- Specification Limit

Question 2

Who resolves problems/situations w clients?

Answer 2

1. Project Manager

2. Project Manager & the Sponsor (if Proj. Mgmr. needs help)

Question 3

2 Project Kickoff Documents

Answer 3

• The Contract

- The Business Case/Viability Report

Question 4

4 Project Timeline Components

Answer 4

1. Identify the Activities
2. Sequence the Activities
3. Estimate the Durations
4. Develop the Timeline

Question 5

4 Communication Techniques

Answer 5

• Feedback
• Communication Competence
• Non-Verbal Communication
• Presentation

Question 6

3 Project Baselines

Answer 6

• Scope
• Schedule
• Cost

Changes to any of these must be approved by the key stakeholders (client, sponsor and investor)

Question 7

4 Quality Control Elements

Answer 7

• Checklists
• Control Charts
• Statistical Sampling
• Establishing Quality Metrics

Question 8

3 Project Charter Components

Answer 8

• The Contract
• The Business Case
• The Benefits Management Plan

Question 9

3 Key Stakeholders

Answer 9

• Client
• Sponsor
• Investors (Entities that Finance the Project)

Question 10

3 Knowledge Areas that make up the Dimensions of a Project

Answer 10

• Scope
• Schedule
• Cost

Question 11

4 Most Important Types of Power

Answer 11

• Formal or Positional Power (Given in Project Charter)
• Expert Power (Consulting Experts)
• Charismatic Power (Soft Skills)
• Referent Power (Power of Respect for a Leader)

Question 12

Who sets the objectives of the project?

Answer 12

• Company &

- Client

Question 13

4 Leadership Styles

Answer 13

• Transactional (Incentive Driven)
• Servant (Dedication to another entity)
• Laissez-Faire (Hands-Off)
• Transformational (Motivation & Encouragement)

Question 14

6 Step Order of Resolving a Claim

Answer 14

1. Claim
2. Negotiation
3. Dispute
4. Arbitration
5. Appeal
6. Trial

Question 15

3 Statuses that Project Data Passes Through

Answer 15

• Work performance data
• Work performance information
• Work performance reports

Question 16

4 concepts of a Cost-Reimbursable Contract w Incentives

Answer 16

• Target Cost
• Target Fee
• Real Cost
• Incentive Split for the Provider

Question 17

3 Data Gathering Techniques

Answer 17

• Interviews
• Focus Groups
• Brainstorming

Question 18

How to Calculate EMV (Estimated Monetary Value)

Answer 18

• Multiply the benefit of each project by the chance of the benefit occurring (the probability)

The project that has the highest EMV will be the project with the greatest opportunity cost.

Question 19

Maslow’s Hierarchy of Needs

Answer 19

1. Physiological Needs (Bottom)
2. Safety Needs
3. Social Needs
4. Esteem needs
5. Self-Actualization Needs

Question 20

3 Cost Baseline Components

Answer 20

• Direct Costs
• Indirect Costs
• Contingency Reserve

Question 21

3 Parts of the PMI Talent Triangle

Answer 21

• Leadership (Ability to manage a team)
• Technical Project Management (Having relevant skills)
• Strategic and Business Management (Understanding the objectives of the company)

Question 22

2 ways Procurement Management can be organized

Answer 22

• Centralized

- Decentralized

Question 23

Change Management Process Hierarchy (4 Components)

Answer 23

1. Project Team
2. Project Manager
3. Sponsor
4. Change Control Board

Question 24

4 Types/Styles of Management

Answer 24

• Project
• Program
• Portfolio
• Operations

Question 25

2 ways that teams can work, according to their location

Answer 25

- Virtually | - Co-located (In the same geographic location)

Question 26

4 Types of Company Organizational Structures

Answer 26

- Functional - Nonfunctional - Matrix - Agile

Question 27

2 parts of brainstorming

Answer 27

1. Idea Generation | 2. Analysis

Question 28

When Certain project meetings are held - Kickoff Meeting - Status Meeting - Change Control Meeting - Review Meeting

Answer 28

- Kickoff: the end of the planning stage and at the beginning of the execution stage. - Status: held throughout the execution of a project. - Change Control: held during the monitoring and management of the project. - Review: held during the project’s closure

Question 29

Objectives of a few meetings - Kickoff - Status - Review

Answer 29

- Kickoff: to officially accept the developed project management plan and to achieve a formal commitment from the project’s stakeholders to execute the planned activities. - Status: used to monitor the project’s execution and are focused on gathering data about the execution and assessing whether the appropriate production processes are being used. - Review: used to confirm that the project has been satisfactorily completed. It is also in this meeting that you can gather the lessons learned and the documentation to be archived from the project.

Question 30

6 Problem Solving Steps

Answer 30

1. Define the problem 2. Identify the problem’s root cause 3. Look for possible solution 4. Choose the most adequate solution 5. Execute the solution 6. Validate the effectiveness of the solution