Roles
organizes and manages at a higher level than a project manager.
coordinates several projects at once in order to create a common benefit
Who is a Program Manager
the concept that scope, time, and cost are closely interrelated
you cannot modify one without changing one or both of the other concepts/areas
a good project manager will always review these three areas of the project plan that maybe affected and consider which components of the plan maybe updated as a result of this change
What is the TRIPLE CONSTRAINT
As the project manager you are in the middle of the project execution phase when a team member informs you of a cost overrun on a specific work package. What should your first action in this situation:
A. Implement the change control process
B. Inform the stakeholders
C. Determine the budget cost
D. Find the cause of cost overrun
D. Find of the cause of cost run
Analyze the situation first.
Inputs, tools, techniques and outputs are the elements it is comprised of
What is a Process
The practice of ensuring that all project components are coordinated. This responsibility cannot be delegated by the project manager and they include the following:
-developing a project charter, project plan, direct project work, and monitor and control work and control associated changes as well as project closure.
What is Integration Management
Pays for the project
Maybe internal or external to the organization
Maybe the project champion or customer
Provides important input to the project such as due dates for delivery, and various constraints and assumptions
May be called upon to help resolve disputes with an external customer or among internal senior management
Who is a Project Sponsor
the projects' official birth certificate
created as soon as a contract is signed/project identified
documents information about the project at its onset, decisions, need, some high level requirements, timelines for completion and summary budget and key milestones, etc.
What is a PROJECT CHARTER
A project manager must have some work done by an outside contractor. This work has a great deal of risk associated with it with the added difficulty of finding a contractor to do the job. Which of the following types of contracts would offer the greatest incentive to the contractor?
A. Cost plus fixed fee
B. Cost plus percentage of cost as an award fee
C. Firm fixed price
D. Cost plus incentive fee
D. Cost plus incentive fee
As defined by the Project Management Institute, a process that officially sets the project underway and entails:
- developing a project charter
- identifying stakeholders
What is INITIATING process
A project management domain that involves sequencing activities in the order in which the work will be performed, resulting in a network diagram.
What is Schedule Management
Individual (s) whose interests maybe positively or negatively affected as a result of the execution or completion of the project.
They may exert influence over the project and its results.
an automated system to assist the project manager and project team to keep track, optimize, and provide visibility to:
tasks at various stages of development ( to do, in progress, or completed)
schedule and timelines for completion of various tasks and milestone activities
may interface with other systems such as account billing, labor hours, etc.
What is a Project Management Information System
Which of the following is an indirect cost for a project?
A. The Project Manager's salary
B. The incentive bonus for the sellers
C. The maintenance and the upkeep of the HR department funding the project
D. The cost of the office supplies for the project team
C. The maintenance and the upkeep of the HR department funding the project
Indirect costs are overhead items or costs incurred for the benefit of more than one project or for ongoing operations. The maintenance and upkeep of the HR Dept. is the only item listed here that is not directly attributable to this particular project.
This process entails developing the following at the least:
- scope statement
- workbreakdown structure
- develop schedule
- determine budget
- estimate activity resources
What is PLANNING process
This formula is helpful during this domain of project management:
n (n-1) / 2 where n = number of stakeholders
What is Communication Management
Helps prioritize projects and make sure the proper authority is delegated to the project team and access to resources.
Issues strategic plans and goals and ensures the company's projects are aligned with them.
Maybe called upon to resolve conflicts within the organization.
Who is a senior manager
a professional team's game strategy that is effective and repeatable as a process for successful project management
Specifies how project deliverable follow a particular workflow to get approval and final release
A way of working with rules to achieve results and goals
Provides focus for planing for an end results with flexibility and adaptability
What is a project methodology, cadence or workflow
Your company has limited resources and must choose between two projects for the next period. Project ABC has a present value (benefit) of $11,000 and Project XYZ has a present value (benefit) of $7,000. What is the opportunity cost of choosing project ABC?
$7,000
An opportunity cost is NOT the difference in the two projects value. It is what you missed out on the benefit or present value of the project you did not chose.
A process to carry out the plans and produce the work by providing direction, acquiring and managing the team, and stakeholder engagement, as well as managing quality, project knowledge, and communications among other implementation activities.
What is EXECUTING process
This body of knowledge focuses on the degree to which the project fulfills the requirements by creating and following organizational policies and procedures, and tailoring them to ensure that the project meets the needs of the customer to a specified standard.
What is Quality Management
a staff assistant who has limited or informal authority over the project
makes sure tasks are completed on time and purchases arrive on time
Who is a project expeditor
An approach that focuses on envisioning, evolving and adapting instead of extensive planning
Values self-organizing teams with no formal project manager
Work is distributed by team consensus rather than by authority
Work is delivered in small frequent releases
Customer engagement is high during development and sets priorities which may shift throughout the project life cycle
Decisions are made as a team with continued focus on delivering value to the customer
Daily stand up meetings with high visibility and transparency
Internal resolution versus escalations to management
What is Agile Project Management
Which if the following process sequence is correct?
1. Create workbreakdown structure (WBS) (activities), then determine budget, then estimate costs
2. Create WBS, estimate costs, determine budget
3. Determine budget, estimate costs, create work breakdown structure
List the activities of the project (Create WBS), then the cost of activities is estimated and aggregates (Estimate Cost) to determine the budget.
Processes that compare the work results to the plan and make adjustments for the future to the schedule, the budget, or the scope of work.
Corrective action is taken, either to change the plan or to change the manner in which it is being executed or both in order to ensure that the work results are aligned to the plan.
What is MONITORING AND CONTROL processes
This project management body of knowledge includes tools and techniques such as: Alternative analysis, Reserve analysis and estimate techniques such as: Rough order of magnitude (ROM) estimate and Definitive estimate
What is Cost Management