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Project management Midterm

If it is crucial to meet time and cost goals, the _____Must be flexible
Scope
Project ____management involves working with all appropriate stakeholders to define, gain written agreement for, and manage all the work required to complete the project successfully.
Scope
Project _____ management, the ninth knowledge area, is an overarching function that affects and is affected by all of the other knowledge areas.
integration
By grouping projects into ____, organizations can better tie theeir projects to meeting strategic goals.
portfolios
Which of the following is a not a potential advantage of using good project management?
Lower cost of capital
____Coordinates the work of all other project management knowledge areas.
Project integration mnagement
Portfolio managers must have strong ______ skills and understand how projects and programs can contribute to meeting strategic goals.
financial and analytical
Projects should first and foremost address business ____
needs
A positive NPV means the return from a project exceeds the ____cost of capital — the return available by investing the capital elsewhere.
Opportunity
_____ _____ ____is the result of subtracting the project costs from the benefits and then dividing by the costs.
Return on investment
_____Should be formed and continuously updated to help the organization as a whole make better trategic decisions.
Portfolios
Which of the following is not part of a SWOT analysis?
tactics
Which of the following is not a major benefit of grouping projects into programs?
increasing revenues
The _____ cost of capital is the return available by investing the captial elsewhere.
opportunity
A business ___ is a document that provides justification for investing in a project.
Case
Part of creating and following a project management methodology includes the creation and use of _____.
Templates
Which of the following information is typically included in a business case?
Business Objective
A crucial part of the project charter is the ____ section, where key project stakeholders sign the document to acknowledge their agreement on the need for the project.
Sign-off
In which of the five project management process groups are activities performed that relate to each knowldge area?
Planing
What document provides justification for investing in a project?
Business case
In which process group do you normally produce the main deliverables of a project?
Executing
What project management methodology is the defacto standard in the U.K and is used in over 50 countries
PRINCE2
Project management ___ facilitate communication among stakeholders and provide a baseline for progress measurement and project control.
Plans
The main planning tasks performed a s part of project scope management include scope planning, scope definition, and ———
Creating the WBS
The term “____” is used to describe each level of work in the WBS
Task
The project team begins to develop a ____ by first clearly defining all the activities it needs to perform.
Schedule
Project management plans should be _____.
dynamic receptive to change flexible
project teams develop a _____ to coordinate all other project plans.
Project management plan
You develop a WBS by analyzing a similar project. You are using the _____ approach
Analogy
Project teams often create a _____ to ensure that all major activities are accounted for.
Milestone list
Project ____ management ensures that the project will satisfy the stated or implied needs for which it was undertaken
quality
_____ to requirements means that the project’s processes and projects meet wrtiten specifications.
Conformance
Example of common ____ used by organizations include failure rates of products produced, availability of goods and services, and customer satisfaction ratings.
Metrics
A project _____ chart is a graphic representation of how authority and responsiblity is distributed within the project.
organizational
A _____management plan describes when and how people will be added to and removed from a project.
staffing
_____ are indicators or symptoms of actual risk events.
Triggers
______contracts reduce the risk of incurring higher cost than expected
Fixed price
You would use a _____-or-buy analysis to decide whether to purchase or lease items for a particular project
lease
Three broad categories of contracts are fixed price, or lump sum; ____; and time and material.
Cost reimburasable
A _____ contract has the least amount of risk for the buyer.
firm-fixed price
A request for ____ is a document used to solicit quotes or bids from prospective suppliers.
quote
After thoroughly evaluating a supplier, many organizations summarize evaluations using a supplier ____ matrix—a type of weighted scoring model.
evaluation
______is defined as the degree to which a set of inherent characteristics fulfill requirements.
Quality
_____ ____ ___allow organizations to measure their performance in certain areas— sucn as failure rates, availability, and reliability— and compare them over time or with other organizations
quality control charts
A RACI chart is a type of _____.
responsibility assignment matrix
A ____ _____ ____describes when and how people will be added to and taken off of a project
staffing management plan
A _____is a document that contains results of various risk management processes, often displayed in a table or spreadsheet format.
Risk register
You want to have the least risk possible in setting up a contract to purchase goods and services from an outside firm. As the buyer, what type of contract should you use?
Fixed price
Time-and-_____ contracts are a hybrid of both fixed-price and cost reimbursable contracts
material
What document graphically shows how many and what type of resources are estimated to be needed on a project over time?
Resource histogram

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