PM1_Theory_Revision_with_Answers
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PM1_Theory_Revision_with_Answers

Course Number: CITP 0012, Fall 2009

College/University: Allan Hancock College

Word Count: 1941

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1. What three knowledge areas comprise the triple constraint of project management? (ITPM Chp 1 Page 5) ANSWER: scope, time, and cost 2. Name 5 of the 9 Knowledge areas in the Project Management Framework. (ITPM Chp 1 Page 8 Figure 1-2) ANSWER: Any of the following Management areas: Scope, Time, Cost, Quality, Human Resources, Communication, Risk and Procurement 3. What is a project? How is it different from what...

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What 1. three knowledge areas comprise the triple constraint of project management? (ITPM Chp 1 Page 5) ANSWER: scope, time, and cost 2. Name 5 of the 9 Knowledge areas in the Project Management Framework. (ITPM Chp 1 Page 8 Figure 1-2) ANSWER: Any of the following Management areas: Scope, Time, Cost, Quality, Human Resources, Communication, Risk and Procurement 3. What is a project? How is it different from what most people do in their day-to-day jobs? (ITPM Chp 1 Page 4-5) Register to View Answerproject is a temporary endeavor undertaken to accomplish a unique purpose. A project has a unique purpose. A project is temporary. A project requires resources often from various areas. A project should have a primary sponsor or customer. A project involves uncertainty. Many people perform routine activities in their day-to-day jobs that do not have a unique purpose or a definite beginning and end. 4. What are the phases of the project life cycle? (ITPM Chp 2 Page 28) ANSWER: concept, development, implementation, and close-out 5. Briefly describe what happens in each of the five process groups (initiating, planning, executing, controlling, and closing). On which processes should the most team members spend the most time? What are some of the deliverables of each process? (ITPM Chp 2 Page 44) ANSWER: Descriptions of what happens in each of the five process groups are listed below: Initiating includes actions to commit to begin or end projects and project phases. Some deliverables include defining the business need for the project, getting a project sponsor, and selecting a project manager. Planning includes creating workable plans for the entire project. Every knowledge area requires development of some plans. Executing involves coordinating everyone and everything to carry out the project plans. Deliverables are the actual work the products of the project or phase. Controlling ensures the project objectives are met. Deliverables include monitoring and measuring progress and taking corrective action. Closing involves bringing the project to an orderly end. Deliverables include getting formal acceptance for the project, creating project files, and documenting lessons learned. Generally, the most time on projects should be spent in executing processes. 6. What are the three main processes of integration management? (ITPM Chp 3 Page 59) ANSWER: project plan development, project plan execution, and overall change control 7. What project management tool can you use to help manage relationships with different people involved in your project? (ITPM Chp 3 Page 67) Register to View Answerstakeholder analysis 8. Why should you create a stakeholder analysis if it is not a part of the formal project plan? (ITPM Chp 3 Page 67) ANSWER: Developing good relationships with key stakeholders is very important, because you must meet or exceed stakeholders needs and expectations for a project to be successful. A stakeholder analysis helps you identify key stakeholders and how to work with them. 9. Convert the following W.B.S. into a Indented tabular format I n fo r m a t io n T e c h n o lo g y U p g r a d e P r o je c t P r o je c t M a n a g e m e n t U p d a te In v e n to ry A c q u ir e H a r d w a r e a n d S o ftw a r e I n s t a ll H a r d w a r e a n d S o ftw a r e P e r fo r m P h y s ic a l In v e n to ry B u ild in g A B u ild in g B U p d a te D a ta b a s e B u ild in g C ANSWER: (ITPM Chp 4 Page 100-101) 1.0 2.0 Project Management Update Inventory 2.1 Perform Physical Inventory 2.1.1 Building A 2.1.2 Building B 2.1.3 Building C 2.2 Update Database Acquire Hardware and Software Install Hardware and Software 3.0 4.0 10. What is a Weighted Scoring Model? (ITPM Chp 4 Page 93) Register to View Answertool that provides a systematic process for selecting projects based on many criteria 11. In a Cost benefit analysis, What does NPV Analysis mean? (ITPM Chp 4 Page 90) ANSWER: NPV is the Net present Value is the result of analysis using a method to calculate the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time. 12. In a Cost benefit analysis, What does ROI mean? (ITPM Chp 4 Page 92-93) ANSWER: Return On Investment is income divided by investment calculated as ROI = (total discounted benefits total discounted costs) / discounted costs. 13. In a Cost benefit analysis, What does Payback Period mean? (ITPM Chp 4 Page 93) ANSWER: Payback period is the amount of time it will take to recoup, in the form of net cash inflows, the net dollars invested in a project. 14. Describe what a Scope Document is used for and name 4 four sections that it should include. (ITPM Chp 4 Page 98-99) Register to View AnswerScope Statement is a document used to develop and confirmn a common understanding of the project scope. It should include: Project Justification (the business needs) A brief description of the products or services that the project will produce. A summary of all the project deliverables A statement of what determines project success (i.e. cost, schedule, and quality measures). 15. What is the output of a scope definition (ITPM Chp 4 Page 99) ANSWER: Work Breakdown Structure (W.B.S.). 16. What are the main points a Project Manager must know when scheduling (Week 4 Student notes Page 1) ANSWER: The duration of each task The order in which the tasks will be performed The start and end times for each activity Who will be assigned to each task 17. Name and describe the two methods of task breakdown (Week 4 Student notes Page 1) ANSWER: There are two methods of task breakdown: Top Down method determines the major phases then break each phase into activities or tasks. Bottom Up method determines all the required activities or tasks , then groups them into phases. Top down is more logical and most commonly used where as bottom up is better suited to small projects only. 18. What does PERT and CPM stand for (Week 4 Student notes Page 2) ANSWER: Program Evaluation Review Technique (PERT) and the Critical Path Method (CPM) 19. What does PERT and CPM stand for (Week 4 Student notes Page 2) ANSWER: Program Evaluation Review Technique (PERT) and the Critical Path Method (CPM) 20. is What the PERT weighted average formula? (Week 4 Student notes Page 3) ANSWER: optimistic time + 4X most likely time + pessimistic time 6 21. Study the PERT/CPM chart below and answer the following questions. (Week 4 Student notes Page 3 & 4) 1. What is the Duration of the project (all figures are in Days ANSWER: 27 2. What is the Critical Path of the project (list all the critical activity letters Register to View AnswerB, G, I 3. If all activity durations are in days, What is the Slack (float) time for activity H? ANSWER: 6 days 4. Can any events be made redundant. If so, which one/s ANSWER: event 9 or 11 7 F 7 20 23 23 23 I 4 3 B 10 13 13 4 13 4 17 G 10 9 23 23 11 13 27 27 1 0 0 A 3 2 3 3 1 C 1 H 4 4 D 5 10 E 7 17 23 6 11 24 Name and explain the four different relationships between tasks in MS Project. (Week 4 MS Project notes Page 5) ANSWER: finish-to-start Where a task cannot start until its predecessor finishes. This is the most common. start-to-start Where both tasks need to commence at the same time. finish-to-finish Where both tasks need to finish at the same time. start-to-finish Where the completion of one task is dependent on the start of another. 35 L 31 135 22. Name 4 important points about a Critical Path (Week 4 Student notes Page 2) Register to View Answercritical path is a series of events and activities with no slack time At least one complete path will exist where every node has equal ECTs and LCTs If any task on the critical path is delayed beyond its LCT, the entire project falls behind by that amount of time Project managers focus on the critical path in order to keep the project on track 23. Name the four main Cost Management processes and list their main outputs. (ITPM Chp 6. Page 160) ANSWER: Resource Planning. The output is a list of resource requirements Cost estimating. The main outputs are cost estimates, supporting detail and a cost management plan. Cost budgeting. The main output is a cost baseline. Cost control. The main outputs are revised dost estimates, budget updates, corrective action , estimate at completion and lessons learned. 24. What is the difference between Tangible and Intangible benefits? (ITPM Chp 6. Page 162&163) ANSWER: Tangible benefits are benefits that can be measured in monetary terms. For example, labor savings, reduced overheads etc. Intangible benefits cannot easily be measured in monetary terms. For example, employee moral, good will etc. 25. Name and describe four of the basic principles of cost management. (ITPM Chp 6. Page 162-164) ANSWER: (any of the following) Profits are revenues minus expenses Life cycle costing is estimating the cost of a project over its entire life Cash flow analysis is determining the estimated annual costs and benefits for a project Internal rate of return(IRR) is the discount rate that makes net present value equal to zero. Tangible and intangible cost and benefits. Direct and indirect costs Benefits and costs can be tangible or intangible, direct or indirect Sunk cost should not be a criteria in project selection Learning curve theory states that when many items are produced repetively the unit cost of these items decreases in a regular pattern as more units are produced Reserves are dollars included in a cost estimate to mitigate cost risk by allowing for unpredictable future situations. 26. What and describe the three types of cost estimates (ITPM Chp 6. Page 166) ANSWER: Rough Order of Magnitude (ROM) Very early in the project life cycle, often 35 years before project completion Provides rough ballpark of cost for selection decisions (25%, +75%) Budgetary Early, 12 years out Puts dollars in the budget plans (10%, +25%) Definitive Later in the project, < 1 year out Provides details for purchases, estimate actual costs (5%, +10%) 27. What is Project Human Resource Management? ANSWER: (ITPM Chp 8. Page 232) Project human resource management includes the processes required to make the most effective use of the people involved with a project. Processes include Organizational planning Staff acquisition Team development 28. List Maslow's Hierarchy of needs from 1 to 5 ANSWER: (ITPM Chp 8. Page 233-234) 1. Physiological 2. Safety 3. Social 4. Esteem 5. Self-Actualization 29. List the five leading motivation theorists ANSWER: (ITPM Chp 8. Page 233-234) Abraham Maslow, Fredrick Herzberg, Douglas McGregor Thamhain and Wilemon, Stephen Covey 30. Name and describe the four Project Communications Management Processes ANSWER: (ITPM Chp 9. Page 269-270) Communications planning: determining the information and communications needs of the stakeholders Information distribution: making needed information available in a timely manner Performance reporting: collecting and disseminating performance information Administrative closure: generating, gathering, and disseminating information to formalize phase or project completion 31. What is the formula for determining the number of communications channels? ANSWER: (ITPM Chp 9. Page 276-277) Number of communications channels = (n(n-1))/2 32. Conflict Handling Modes, in Preference Order ANSWER: (ITPM Chp 9. Page 281) Confrontation or problem-solving: directly face a conflict Compromise: use a give-and-take approach Smoothing: de-emphasize areas of differences and emphasize areas of agreement Forcing: the win-lose approach Withdrawal: retreat or withdraw from an actual or potential disagreement 33. What are the main outputs of Performance reporting ANSWER: (ITPM Chp 9. Page 278-279) Status reports describe where the project stands at a specific point in time Progress reports describe what the project team has accomplished during a certain period of time Project forecasting predicts future project status and progress based on past information and trends Status review meetings often include performance reporting 34. What are the main outputs of Administrative Closure ANSWER: (ITPM Chp 9. Page 279-280) project archives formal acceptance lessons learned 35. What is the definition of a successful project ANSWER: (ITPM Chp 1. Page 2-5) A project that is completed on time, on budget and to required specifications.

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