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This flashcard set covers university-level project management, focusing on key concepts like scope, stakeholders, and processes. It delves into the roles of project managers, the importance of planning, and the management of risks and budgets. The flashcards also explore the integration of software and construction activities within project frameworks. Ideal for students and professionals, this set helps in understanding the complexities of project management and the tools needed to ensure successful project delivery.
Flashcards
294
Students
6
Language
English
Category
Computer Science
Level
University
Created / Updated
05.01.2014 / 12.08.2024
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Flashcards

8. Which of the following tools is used for adding buffers to a schedule?
7. Three members of your project team want to pad their estimates because they believe there are certain risks that might materialize. What is the BEST way to handle this situation?
11. YouÕre managing an interior decoration project, when you find out that you need to get it done earlier than originally planned. You decide to fast-track the project. This means:
4. You are managing a software project. Your QA manager tells you that you need to plan to have her team start their test planning activity so that it finishes just before testing begins. But other than that, she says it can start as late in the project as necessary. WhatÕs the relationship between the test planning activity and the testing activity?
6. Which of the following is NOT an input to Develop Schedule?
5. YouÕre managing an industrial design project. YouÕve come up with the complete activity list, created network diagrams, assigned resources to each activity, and estimated their durations. WhatÕs the next thing that you do?

16. YouÕre managing a project to build a new project management information system. You work with the team to come up with an estimate of 27 weeks. In the best case, this could be shortened by two weeks because you can reuse a previous component. But thereÕs a risk that a vendor delay could cause the project to be delayed by five weeks. Use PERT to calculate a three-point estimate for this project.

13. YouÕre managing a construction project. YouÕve decomposed work packages into activities, and your client needs a duration estimate for each activity that you come up with. Which of the following will you use for this?
12. Slack is a synonym for:
15. Which of the following is NOT a tool or technique used in Estimate Activity Durations?
14. WhatÕs the correct order of the Time Management planning processes?

2. YouÕre working on a project that has an EV of $7362 and a PV (BCWS) of $8232. WhatÕs your SV?

3. You are managing a project for a company that has previously done three projects that were similar to it. You consult with the cost performance baselines, lessons learned, and project managers from those projects, and use that information to come up with your cost estimate. What technique are you using?
24. YouÕre managing a construction project. YouÕve decomposed work packages into activities, and your client needs a duration estimate for each activity that you came up with. Which of the following BEST describes what you are doing?
1. You are creating your Cost Performance Baseline. What process are you in?
22. YouÕre planning the schedule for a highway construction project, but the final date you came up with will run into the next budget year. The state comes up with capital from a reserve fund, and now you can increase the budget for your resources. WhatÕs the BEST way to compress the schedule?
23. YouÕre managing a software project. YouÕve created the schedule, and you need to figure out which activities absolutely cannot slip. YouÕve done critical path analysis, identifying the critical path and calculating the early start and early finish for each activity. Which activities cannot slip without making the project late?
20. YouÕre managing a software project, when your customer informs you that a schedule change is necessary. Which is the BEST thing to do?
21. Your company has previously run other projects similar to the one youÕre currently managing. What is the BEST way to use that information?
11. During the execution of a software project, one of your programmers informs you that she discovered a design flaw that will require the team to go back and make a large change. What is the BEST way to handle this situation?
8. Your project has a BAC of $4,522 and is 13% complete. What is the earned value (EV)?
9. A project manager is working on a large construction project. His plan says that the project should end up costing $1.5 million, but heÕs concerned that heÕs not going come in under budget. HeÕs spent $950,000 of the budget so far, and he calculates that heÕs 57% done with the work, and he doesnÕt think he can improve his CPI above 1.05. Which of the following BEST describes the current state of the project?
6. Your company has asked you to provide a cost estimate that includes maintenance, installation, support, and upkeep costs for as long as the product will be used. What is that kind of estimate called?
7. You are working on a project with an SPI of .72 and a CPI of 1.1. Which of the following BEST describes your project?
4. You are working on a project with a PV of $56,733 and an SPI of 1.2. WhatÕs the Earned Value of your project?

5.  Your company has two projects to choose from. Project A is a billing software project for the Accounts payable department; in the end it will make the company around $400,000 when it has been rolled outto all of the employees in that department. Project B is a payroll application that will make the company around $388,000 when it has been put to use throughout the company. After a long deliberation, your board chooses to go ahead with Project B. What is the opportunity cost for choosing Project B over Project A? 

 

19. You are managing a software project, when one of your stakeholders needs to make a change that will affect the budget. You follow the procedures to implement the change. Which of the following must get updated to reflect the change?
18. You are managing a software project, when one of your stakeholders needs to make a change that will affect the budget. What defines the processes that you must follow in order to implement the change?
17. What is the range of a Rough Order of Magnitude Estimate?
16. Project A has a NPV of $75,000, with an internal rate of return of 1.5% and an initial investment of $15,000. Project B has a NPV of $60,000 with a BCR of 2:1. Project C has a NPV of $80,000, which includes an opportunity cost of $35,000. Based on these projects, which is the BEST one to select:
15. You are working on the project plan for a software project. Your company has a standard spreadsheet that you use to generate estimates. To use the spreadsheet, you meet with the team to estimate the number of functional requirements, use cases, and design wireframes for the project. Then you categorize them into high, medium, or low complexity. You enter all of those numbers into the spreadsheet, which uses a data table derived from past projectsÕ actual costs and durations, performs a set of calculations, and generates a final estimate. What kind of estimation is being done?
14. You are managing an industrial architecture project. YouÕve spent $26,410 so far to survey the site, draw up preliminary plans, and run engineering simulations. You are preparing to meet with your sponsor, when you discover that there a new local zoning law will cause you to have to spend an additional estimated $15,000 to revise your plans. You contact the sponsor and initiate a change request to update the cost performance baseline. What variable would you use to represent the $26,410 in an Earned Value calculation?
13. A junior project manager is studying for her PMP exam, and asks you for advice. SheÕs learning about Earned Value Management, and wants to know which of the variables represents the difference between what you expect to spend on the project and what youÕve actually spent so far. What should you tell her?
12. If AC (ACWP) is greater than your EV (BCWP), what does this mean?
4. YouÕre working with an audit team to check that your companyÕs projects all meet the same quality standards. What process is being performed?
3. Which of the following is NOT an example of Cost of Quality?
2. A project manager is using a histogram to analyze defects found by the team during inspection activities. What process is being performed?
(BCWS) YouÕve spent $26,410 so far 1. Which of the following is NOT a part of quality?
23. You are managing a project for a defense contractor. You know that youÕre over budget, and you need to tell your project sponsor how much more money itÕs going to cost. YouÕve already given him a forecast that represents your estimate of total cost at the end of the project, so you need to take that into account. You now need to figure out what your CPI needs to be for the rest of the project. Which of the following BEST meets your needs?
22. You are starting to write your project charter with your project sponsor when the senior managers ask for a time and cost estimate for the project. You have not yet gathered many of the project details. What kind of estimate can you give?
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