MGMT 480 Final

A project monitoring system involves all of the following except
Adjusting the data
A typical project progress report would contain all of the following sections except
All of these are typical sections
The first step in the project control process of the measurement and evaluation of project
Set a baseline plan
The second step in the project control process of the measurement and evaluation of project performance is to:
Measure progress and performance
A typical tool used to communicate project status is a
Gantt Chart
The second step in the project control process for measuring and evaluating project performance is to
Measure progress and performance
A ___________ Gantt chart is a simple and effective way to depict progress on a project.
Tracking
A tool used to monitor past project schedule performance, current performance, and to estimate future schedule trends is a simple line chart known as a
Project control chart
The earned value system starts with the time-phased costs that provide the project baseline, which is called the
Planned budgeted value of work scheduled
The cost variance for a project is calculated by
EV-AC
Baseline project budgets are derived from
Time-phasing the work packages
Of the following costs, which are NOT included in baseline?
Budget reserves
Which of the following methods will measure the cost efficiency of the work accomplished to date?
EV/AC
A CPI or SPI value less than one indicates that the project is
Over cost or behind schedule
The value that tells you the planned value of work that has actually been completed is the
EV
The indicator that tells you the amount each remaining dollar must earn in order for the project to stay within budget is the
TCPI
Nancy tells her supervisor that as of right now, $1.05 worth of work has been accomplished for each $1 worth of scheduled work. Nancy got this information from viewing the
SPI
Sally receives the following information on her project: PV=100, AC=75, EV=100. How well is the project doing in terms of budget?
25 under budget
Jessica just received the following information on her project: PV =200, EV=300, AC=250, BAC=1500, EAC=1208. In terms of cost at completion
The project will currently finish under budget
Which of the following is NOT true regarding scope creep?
It commonly occurs late in projects
The most common circumstance for project closure is simply a _____ project
Completed
_____ of lessons learned are designed to improve performance on current and future
Retrospectives
The content of the final report typically includes the following topics
All the above are correct
This type of closure occurs when the project may never seem to end. This is considered to be _____ closure.
Perpetual
When a project may start with a high priority but see its rank erode or crash during its project life cycle as conditions change this is an example of:
Changed Priority
Which of the following is not a wrap-up closure activity that might be found on a checklist?
Evaluation of team performance
The content of the final report typically includes the following topics EXCEPT
Team reviews
When the project may be completed early with some parts of the project eliminated this is considered to be ___________ closure.
Premature
When a project starts with a high priority but it is cancelled because its rank erodes or crashes during its project life cycle, this is an example of what type of project closure?
Changed Priority
Which of the following summarizes project performance and provides useful information for continuous improvement?
The final report
Which part of the final report examines in detail the underlying causes of problems, issues, and successes relative to the project and includes concise, factual review statements of the project?
Review and analysis
The purpose of project evaluation is to assess how well
The project team, team members and the project manager performed
Which of the following would NOT be appropriate to assess when evaluating team performance?
Individual strengths and weaknesses
An analysis carried out during and shortly after the project life cycle that attempts to capture positive and negative learning is represented in which of the following?
Lessons learned
The process for capturing lessons learned continues to evolve, but there are still many barriers to effectively capitalizing on lessons learned that have been identified. The following are examples of these barriers EXCEPT
Lessons learned are being used across different locations
The following are distinguishing characteristics of retrospectives methodology EXCEPT
Reviews cannot be linked to percent complete
A guide who leads the project team through an analysis of project activities that went well, what needs improvement, and development of a follow-up action plan with goals and accountability is a(n)
Facilitator
More and more companies are discarding the traditional superior-subordinate performance feedback process and replacing it with a multi-rater appraisal called
The 360-degree feedback
Which of the following is NOT a role of the closure facilitator?
Get delivery acceptance from the customer
Each retrospective is assigned a(n) _________, typically a team member who is very interested in and familiar with the retrospective. This individual will serve as the contact point for anyone needing information relating to the retrospective.
Owner
If a construction company in Dallas builds a bridge in Houston, the project would be classified as
Domestic
If the Lincoln Log Construction Co. (based in Chicago) built an assembly plant for General Motors in Nigeria, the project would be classified as
Overseas
If IBM built a computer system for Outback Barbie Inc. (based in Australia) at their corporate headquarters in Sydney, the project would be classified as
Foreign
McDonald’s is creating a multinational distribution system for all of its foreign and domestic subsidiaries. The project manager is from the corporate headquarters and he manages teams from each of the countries involved. The project would be classified as
Global
Which of the following is not one of the potential results for the international project manager?
All of these are potential results
If a construction company in Dallas builds a bridge in Houston, the project would be classified as
Domestic
McDonald’s is creating a multinational distribution system for all of its foreign and domestic subsidiaries. The project manager is from the corporate headquarters and he manages teams from each of the countries involved. The project would be classified as
Global
Which of the following is NOT a potential negative outcome for an international project manager?
Virtual teams
The growing presence of crime resulting from the Russian Mafia has discouraged many foreign firms from setting up operations in the former Soviet Union. This is an example of which of the following environmental factors?
Security
Exchange rates, inflation, and education level of the workforce are examples of which of the following environmental factors?
Economic
Communication difficulties due to language differences is an example of which of the following environmental factors?
Cultural
Which of the following can help a project manager to digest, clarify, and understand the factors leading to the selection of a specific international project?
Risk Matrix
American project managers have earned a reputation abroad for being very good at understanding technology but not good at understanding:
People
In this culture, preference is given to friends when hiring, contracting, procuring and sharing business opportunities. Family is also very important and trustworthiness is often gauged by the level of loyalty and attention one devotes to their family.
Mexican
In France, which of the following factors is considered much more important than in the U.S.?
Social class
In Chinese culture, the personal connections with appropriate authorities or individuals is termed
Guanxi
It is common practice to rely on ___________, often natives who are foreign educated, to bridge the gap between cultures.
Intermediaries
The following are ways of coping with culture shock EXCEPT
Keep expectations high
Which of the following is NOT one of the forms that stress-related culture shock takes?
Hyperactivity
When the new and unusual are welcomed you are experiencing which of the following stages of culture shock?
Honeymoon
Typical activities of project oversight cover which of the following dimensions?
Organization & Project
The centralized management of projects to ensure that the allocation of resources to projects is directed toward projects that contribute the greatest value to organization goals is known as:
Portfolio Project Management
Project Management Office functions typically include all of the following except:
Select which projects to undertake
The in-depth review of individual projects at specific phases in the project life cycle is known as:
Phase Gate Methodology
During which of the following phase gates would the question of “Does this project align with our strategic direction?” be answered?
Proposal
The term that can be defined as a set of principles and processes to guide and improve the management of projects is
Project oversight
The intent of project oversight includes all of the following EXCEPT
Meet the needs of the organization through improving everyday business activities
Typical activities of project oversight cover which two dimensions?
Organization and project
At the project level, all of the following are examples of oversight activities EXCEPT
Project selection
The centralized management of projects to ensure that the allocation of resources to projects is directed toward projects that contribute the greatest value to organization goals is known as
Portfolio Project Management
Project office functions typically include which of the following?
Create and maintain the internal project management information system, Recruit and select project managers, Train personnel in project management techniques, Develop risk management programs
The in-depth review of individual projects at specific phases in the project life cycle is known as
Phase Gate Methodology
During which of the following phase gates would the question of “Does this project align with our strategic direction?” be answered?
Proposal
During which of the following phase gates would the questions “Are the resources needed identified and available?” and ?Are tasks sequenced and is a time-phased budget established?? be answered?
Implementation plan
Which of the following is not one of the growth levels in the Organization Project Management Maturity Model (OPM3TM)?
Expanded (expansion of project management system
The first appearance of standard approaches to managing projects including scope statements and WBS occurs in which of the following Project Management Maturity Model Levels?
Formal Application of Project Management
Project audits are performed on all significant projects and lessons learned are recorded and used on subsequent projects in which of the following Project Management Maturity Model Levels?
Management of Project Management System
Each gate within the phase gate review process should, at a minimum, include the following EXCEPT
A plan to proceed
In which of the following Project Management Maturity Model Levels is the focus is on continuous improvement through incremental advancements of existing practices and by innovations using new technologies and methods?
Optimization of Project Management System
The balanced scorecard model differs from selection models by reviewing projects over a longer horizon ___________ after the project is implemented.
5-10 years
Traditional approaches to project management concentrate firmly on
Thorough planning up front
Project ________ varies according to the extent the project scope is known and stable and the technology to be used is known and proven.
Uncertainty
When considering traditional versus agile project management, all of the following are part of the traditional project management model EXCEPT
Continuous design
When considering traditional versus agile project management, all of the following are part of the agile project management model EXCEPT
Design up front
When considering the agile project management process, at the end of each iteration
Stakeholders and customers review progress and reevaluate priorities
Traditional approaches to project management concentrate firmly on
Thorough planning up front
In many cases, _________ only begin to understand what they actually desire when they are provided with someone’s impression of what they want.
Customers
When determining project uncertainty, _________ can be a source of unpredictability.
Technology
_____________ represents a fundamental shift away from the traditional plan-driven project management approach by adopting a more experimental and adaptive approach to managing projects.
Agile project management
When considering the Agile Project Management process, at the end of each iteration
Stakeholders and customers review progress and re-evaluate priorities
A new holistic approach in new commercial product development efforts where the cross-functional team collaborating to develop a new product is compared to rugby, where the whole team ?tries to go the distance as a unit,? is known as
Scrum
Scrum uses a series of coordinated meetings to manage the development process. Which of the following is held at the start of each sprint? During this meeting the product owner and development team negotiate which product backlog items the team will attempt during the next sprint.
Sprint planning meeting
Iterative development processes provide the following important advantages EXCEPT
Ease of comparing actual information against planned
While Agile Project Management does not consist of one set method, most methods are based on similar principles. Which of the following Agile Project Management principles would be described when employing business-driven prioritizations of requirements and features to satisfy customer needs?
Focus on customer value
While Agile Project Management does not consist of one set method, most methods are based on similar principles. Which of the following Agile Project Management principles would be described when testing assumptions early and building working prototypes to solicit customer feedback and refine product requirements?
Experimentation and adaptation
Specific features are created using Scrum methodology according to four distinct phases. Which of the following is NOT one of these phases?
Monitor
Scrum relies on three key roles. A person who acts on behalf of customers to represent their interests and who is responsible for ensuring that the development team focuses their efforts on developing a project that will fulfill the business objective of the project is called a
Product owner
The _________ is the customer’s prioritized list of key features desired when the project is completed
Product backlog
For some Agile projects, ___________ are established, which is the maximum budget that should not be exceeded in the development of a given product or service.
Agile accounts
Baseline budget
A concrete document and commitment; it represents the first real plan with cost, schedule, and resource allocation. The planned cost and schedule performance are used to measure actual cost and schedule performance. Serves as an anchor point for measuring performance
Budget at completion (BAC)
Budgeted cost at completion. The total budgeted cost of the baseline or project cost accounts.
Control chart
This chart is another tool used to monitor past project schedule performance and current performance and to estimate future schedule trends.
Cost performance index (CPI).
The ratio of work performed to actual costs (EV/AC).
Cost variance (CV)
The difference between EV and AC (CV = EV – AC). Tells if the work accomplished cost more or less than was planned at any point over the life of the project
Earned value (EV)
The physical work accomplished plus the authorized budget for this work. Previously this was called the budgeted cost of work performed (BCWP)
Estimated cost at completion (EAC)
The sum of actual costs to date plus revised estimated costs for the work remaining in the WBS. The text uses EACre to represent revisions made by experts and practitioners associated with the project. A second method is used in large projects where the original budget is less reliable. This method uses the actual costs to date plus an efficiency index (CPI = EV/AC) applied to the remaining project work. When the estimate for completion uses the CPI as the basis for forecasting cost at completion, we use the acronym EACf, where EACf = estimated costs at completion. Includes costs to date plus revised estimated costs for the work remaining. (Uses formula to compute EAC.)
Estimated cost at completion—Forecasted (EACf)
Estimated cost to complete (uses formula to compute estimates).
Estimated cost at completion—Revised (EACre)
Estimated cost to complete (uses expert estimates).
Percent complete index—budget costs (PCIB)
Percentage of work accomplished to date based on original budget of the project (EV/BAC).
Percent complete index—actual costs (PCIC).
Percentage of work accomplished to date based on expected cost of the project. (AC/EAC).
Schedule performance index (SPI)
The ratio of work performed to work scheduled (EV/PV).
Schedule variance (SV)
The difference between the planned dollar value of the work actually completed and the value of the work scheduled to be completed at a given point in time (SV = EV – PV). Schedule variance contains no critical path information.
Scope creep
The tendency for the scope of a project to expand once it has started.
To complete performance index (TCPI)
The value each remaining dollar in the budget must earn to stay within budget (BAC-EV/BAC-AC).
Tracking Gantt chart
A Gantt chart that compares planned versus actual schedule information.
Variance at completion (VAC)
Indicates expected actual cost over- or under run at completion (VAC = BAC − EAC).
Lessons learned
Lessons learned represent an analysis carried out during and shortly after the project life cycle; they attempt to capture positive and negative project learning.
Performance review
In general, all review methods of individual performance center on the technical and social skills brought to the project and team. These reviews stress personal improvement and are frequently used for salary and promotion decisions.
Project closure
All of the activities of shutting down a project. The major activities are evaluation of project goals and performance, developing lessons learned, releasing resources, and preparing a final report.
Project evaluation
The process of assessing, verifying, and documenting project results.
Project facilitator
A guide who leads the project team through an analysis of project activities that went well, what needs improvement, and development of a follow-up action plan with goals and accountability.
Retrospective
A methodology that analyzes a past project event to determine what worked and what didn’t, develops lessons learned, and creates an action plan that ensures lessons learned are used to improve management of future projects.
Team evaluation
Evaluating the performance of the project team using a minimum core of conditions in place before the project began. Evaluation practices should emphasize the team as a whole, while minimizing individual performance.
360-degree review (feedback)
A multirater appraisal system based on performance information that is gathered from multiple sources (superiors, peers, subordinates, customers)
Cross-cultural orientations
A term used by Kluckhohn and Strodtbeck to describe how societies vary in their responses to different issues or problems.
Culture
The totality of socially transmitted behavior patterns, beliefs, institutions, and all other products of human work and thought characteristic of a community or country.
Culture shock
A natural psychological disorientation that most people suffer when they move to a culture different from their own.
Infrastructure
Basic services (i.e., communication, transportation, power) needed to support project completion.
Balanced scorecard
Model that measures the long-run results of major program activities in four areas—customer, internal, innovation and learning, and financial.
Oversight
A set of principles and processes to guide and improve the management of projects. The intent is to ensure projects meet the needs of the organization through standards, procedures, accountability, efficient allocation of resources, and continuous improvement in the management of projects
Phase gating
A structured process to review, evaluate, and document outcomes at each project phase and to provide management with information to guide resource deployment toward strategic goals.
Portfolio management
Centralized selection and management of a portfolio of projects to ensure that allocation of resources is directed and balanced toward the strategic focus of the organization.
Project management maturity
A model used to assess project management practices against others in the same industry and to guide and continuously strive to improve the management of projects. Most maturity models recognize levels of maturity so organizations can gauge their relative maturity against others in their industry
Project office (PO)
A centralized unit within an organization or department that oversees and improves the management of projects.
Agile PM
A family of incremental, iterative development methods for completing projects
Feature
A piece of a product that delivers some useful functionality to a customer.
Iterative incremental development (IID)
A cyclical development process in which a project gradually evolves over time
Product backlog
A prioritized list of project requirements with estimated time to turn them into complete product functionality.
Product owner
The person responsible for managing the product backlog in Scrum so as to maximize the value of the project. The product owner represents all stakeholders.
Release burndown chart
The trend of work remaining across time. In a release or product, the source of data is the product backlog with work remaining tracked on the vertical axis and number of sprints on the horizontal axis.
Scaling
Adapting Agile PM to large, multi-team projects.
Scrum master
The person responsible for the Scrum process and its correct application.
Scrum meeting
A short status meeting held daily by each team during which the team members synchronize their work and progress as well as report any impediments for removal by the Scrum master.
Self-organizing team
A semi-autonomous team that manages itself.
Sprint backlog
A list of tasks that defines a Scrum team’s work for a sprint. Each task identifies those responsible for doing the work and the estimated amount of work remaining on the task on any given day during the sprint.
Sprint burndown chart
The trend of work remaining across time in a sprint. The source of data is the sprint backlog with work remaining tracked on the vertical axis and days of a sprint on the horizontal axis
The following are true regarding career paths within project management EXCEPT
You can likely become a project manager as soon as you graduate from a university
One aspect of project management that is unique is the _______ nature of assignments
Temporary
If you are considering pursuing a career in project management, you should first find out what specific project job opportunities exist ___________.
Within your company
Few project managers have received formal training. Typically they have mastered the job through __________, supplemented by occasional workshops on specific project topics such as project scheduling or negotiating contracts.
On-the-job training
When possible, you should choose to manage the following projects EXCEPT
That are run-of-the-mill with low risk
Certified Associate in Project Management (CAPM)
Certificate degree offered by PMI which requires no project management experience, but simply passing a test based on PMBOK.
Mentor
Typically a more experienced manager who acts as a personal coach and champions a person’s ambitions.
Project Management Professional (PMP)
An individual who has met specific education and experience requirements set forth by the Project Management Institute, has agreed to adhere to a code of professional conduct, and has passed an examination designed to objectively assess and measure project management knowledge. In addition, a PMP must satisfy continuing certification requirements or lose the certification.