Who Creates The Project Charter
A project in PMP can be defined as a
Temporary endeavor undertaken to create a unique product, service, or result
Permanent endeavor that produces repetitive outputs
Temporary endeavor that produces repetitive outputs
Permanent endeavor undertaken to create a unique product, service, or result
Typically not referred to as a buffer type in critical chain project management is ______
Iam looking to estimate the cost on a project, but I don't want to spend a lot of time on a detailedanalysis.
I really want a ballparkfigure.
What options do I have
None - Cost estimating requires details to be accurate
Use a rule-of-thumb or per-square-foot estimate
Add up the costs on the WBS
Use the cost of similar projects
On a systems development project, Richard needs twoprogrammers.
He knows John and Smith were able to create a program in 40 days similar to the one he wants to create on hisproject.
He decides to use 40 days as hisestimate.
This is an example of what type of estimating
Rule of thumb
Your company has a policy of having every software project reviewed and approved by the Architecture Review Board prior to the construction phase of aproject.
you are currently in the process of activitysequencing.
This is a example of what
New scope for the project
A Good CFO will tell you that it is important to look at your bottom line and determine how to increase profits for theorganization.
Veronica, the new CFO at a local university, is taking that approach and applying it to newprojects.
Therefore,she wants to include costs from each phase of the project on a total expenditure is known as
A life cycle
An opportunity cost
A sunk cost
Subject matters experts (SMEs) are resources that are imperative to the succes of aproject.
Many times, project managers are not experts in the areas they are managing and frequently must rely upon other'sexpertise.
In which scope - management process are SMEs first used
Project authorization is one of the processes that is associated with the initiation phase of aproject.
Authorization can come in many different forms, and projects are generally authorized by all of the following except
Business or Social needs
Executive year - end bonuses
Customer request or market demand
A project charter is one of the key deliverables to come from the initiationprocess.
The project charter should by issued by
one or more functional managers
A manager external to the project
The head of the performing organization
Sometimes project managers forget all of the expenses that they can incur on a project, such as capital resources andassets.
This can have an impact upon their budgets and the economic return on theproject.
A cost that has been incurred and cannot be reversed is known as a
The payback period can become an important issue when a large scope project is developed over severalyears.
Maureen has been assigned the responsibility of calculating the payback period for her project that is to be completede in 3years.
The internal rate of return(IRR) is 7% and the annual savings will be $800,000 peryear.
The total cost is $4,000,000 and the rate of return during this time period is 3%. What is the payback period of Maureen's project
One of the goals of management by objectives (MBO) is to ensure that objectives of one level within an organization are supportive of and aligned with the objectives of another level of theorganization.
This methodology has been popular within some organizations as they define theirculture.
Which of the following is not true about MBO
Corrective actions are not part of the process
MBO is a natural fit for Project Management
It has a top-down orientation
You need to establish clear and achievable objectives
You have started your own company based upon PMI methodologies and have been contracted by the government to develope a new interface for one of its computerapplications.
You develope a solution and win the bid for the contract but encounter problems at the end of the project when the customer says that you did not fullfill theirneeds.
You are throughlyshocked.
What is your conclusion of the situation
Change control management was not effective
The customer did not communicate very well
There are always more customers available
If the customer is not satisfied, the project is not successful
The software development life cycle begins with a proof of concept and progress into the build, test, and acceptance phases as the projectdevelops.
Some times, differences between stakeholders can develop into conflict, which impacts thecustomer.
As a trained, professional project manager, how do you handle this situation and resolve the customer's concerns
Let the customer vent and take notes
Develope a change request for the customer
Resolve the matter in favour of the customer
Schedule a meeting
The project life cycle can be broken into five phases that tend to overlap with each other frm one phase to another;however ,the control phase does not overlap with a specificphase.
Change control extends throughout the entire project from initiation to closeout
Change control management is seperate from the other phases
Management by projects views aspects of ongoing operations as projects in order to apply Project Management techniques tothem.
This can be used to describe an oranizational approach to the management of ongoingoperations.
Why would a company want to utilize this methodology on nonprojects
To provide better estimates about durations
To keep project managers employed
To allow the utilization of PM tools, such as earned value, to calculate ROI
To specify the different phases within the operations
A company that you previously worked for is seeking new employees and you are trying to exolain the culture to a potentialcandidate.
The company has strict policies, supervisory control, andrules.
Team members are not encouraged to be individualistic nor offer feedback to uppermanagement.
Many times, the team feels its input is not valuable orimplemented.
This explanation describes a company that utilizes what employee management theory
Kerzner's Earned value Theory
DMcGregor's X Theory
Deming's Zero Defects Theory
Meridith and Mann's Autocratic Management Theory
You have recently been promoted to a project manager for a clinical testingfacility.
The team is developing a new product that will cut down on testing interval requirements for a new seizure managementmedication.
After you become involved with the project, you decide to add more research reports, which the customer did notrequest.
This is an example of
Good customer service scope
Whenever people are looking for a job, they frequently see "program manager wanted" and "project manager wanted" when reading the job listings in their localnewspaper.
Which of the following statements best describes the relationship between projects and programs
A project is a temporary endeavor, where as a program is permanent
A program is composed of one or more related projects.
There are no differences between the two;they are just different terms for the same thing
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