Questions and Answers of Contemporary Management

To be successful, the project team must be able to assess the needs of stakeholders and manage their expectations through effective communications.At the same time, they must balance competing
Projects pass through a series of phases as they move from initiation to project closure. The names and number of these phases can vary significantly depending on the organization, the type of
Based on PMI’s definition, which of these is a good example of a project?a. manufacturing a standard commodityb. following policies and procedures for procuring an itemc. designing and launching a
When would a plan-driven project life cycle be the preferred approach?a. when the high-level vision has been developed, but the product scope is not well definedb. when the environment is changing
To be effective, a project manager needs to possess all of the following competencies except ______________.a. personal effectiveness—attitudes, core personality traits, leadershipb.
In Adaptive Life Cycles (change-driven or Agile methods), ______________.a. the overall scope of the project is fixed, and the time and cost are developed incrementallyb. the overall cost is fixed,
The two plan-driven project management associate-level roles are different in each of the following ways except ______________.a. duration of time spent on projectb. ability to work within project
A freelance project manager is brought in by Company X to lead a large, expensive project. This project manager has excellent leadership skills and a strong technical understanding of the project.For
An arboretum is a garden containing trees, shrubs, and other plants that are cultivated for visual enjoyment and educational purposes. The Interactive Community of Arboreta (ArbNet) Arboretum
Name at least four things that a mission statement should include.
What does the strategic analysis acronym SWOT stand for?
What is the most widely accepted financial model for selecting projects?
What are some advantages and disadvantages of using a financial model for selecting projects?
What are some advantages and disadvantages of using a scoring model for selecting projects?
What are some common reasons for project failure?
Who should be involved in identifying potential projects?
If there is a conflict between resource needs for two projects, who decides which one gets the needed resources first? Does this depend on whether the organization uses a traditional or Agile
In a project scoring model, why is each decision criteria given a weight?
What purpose do sensitivity analyses serve in using scoring models to choose projects?
If several projects have close scores as the result of a scoring model, what can be done to break the virtual tie?
Why is it important for a contractor to understand the source selection criteria a client uses to decide to whom they will award a project?
Name five things that may be negotiated between a client company and a contractor company.
Describe the interaction between vision and mission statements.
What is the best way for an organization to prioritize selected projects? Does it vary if an organization adheres to Agile versus traditional project management methodology?
Why is aligning potential projects with the parent organization’s goals the first step in avoiding project failure?
Why is it a good practice for organizations to identify twice as many potential projects as they plan to implement?
Suppose you are purchasing a new car, and you decide to use a scoring model to decide among four options. What would be your top three criteria, and what would be each criterion’s relative weight?
Under what circumstances should a selected project take precedence over other selected projects?
What are the four main areas of competency a client company is looking for in a project manager?How can you best demonstrate these competencies to a potential client?
A collection of projects, programs, and operations managed as a group to achieve strategic objectives is called a:a. processb. portfolioc. subprogramd. life cycle
Projects may be undertaken as a result of any of the following strategic reasons except:a. social needb. market demandc. need to keep workers busy during slow timesd. environmental considerations
A narrative description of products, services, or results to be delivered by the project is a/an:a. request for informationb. business casec. project statement of workd. elevator pitch
All of the following statements are true except:a. A portfolio may contain multiple programs and projects.b. A project manager has the discretion to make trade-offs regarding which programs to
Which of the following is a financial analysis tool that an organization may use to determine the cost-value of potential projects?a. Payback period (PP)b. Internal rate of return (IRR)c. Net present
All projects should be aligned with their organization’s strategic plan, which includes the organization’s vision, goals, and objectives. Which of these describes an organization’s vision?a.
The ____________________ best describe(s) why a project is being undertaken.a. statement of workb. business casec. subprojectsd. source selection criteria
When selecting projects, it is important to understand the following types of environments and their potential effects on the project:a. politicalb. marketc. sociald. all of the above
An organization’s vision often includes reference to its social, environmental, and economic health, collectively referred to as the:a. triple bottom lineb. business casec. statement of work
On an Agile or adaptive project, the goal is often to produce a:a. Cost-benefit Analysisb. Minimum Viable Product (MVP)c. Business Cased. Subproject
Pretend you are on the leadership team of a manufacturing company that is currently challenged by low-cost competition. Brainstorm a list of criteria by which you would select and prioritize
1. Purchasing land in areas that have potential for future growth makes sense, as the cost of land tends to be substantially cheaper 10–20 years before it is turned into a developed suburban area.
The township staff person who is responsible for renting out the Heritage Center looked around and realized there are quite a few types of trees on the grounds. She asked the question, “could this
What is a charter?
How is a charter like a contract? How is it different?
How long should a typical charter be?
Signing the charter marks the transition between which two phases of the project life cycle?
Who generally writes the rough draft of a charter?
What are some typical elements of a charter?
When would a background section be helpful?
On most small to medium-sized projects, how many intermediate milestones should be identified in the charter?
What types of resources might be included in a resources-needed section of a charter?
Name three reasons project managers and teams should plan fort project uncertainty, including risks.
Why should each contingency plan have an “owner” who is responsible for it?
What are the four columns of the milestone schedule?
With whom might the project manager and project team need to negotiate when creating the charter?
Explain how a charter helps secure both formal and informal commitment.
How are the various types of uncertainty (risks, assumptions, and constraints) related?
If you are a project manager and have the choice of forming your core team before or after charter approval, which would you do and why?
List and describe at least four lessons you have learned from previous projects. Relate how each is valuable in planning a new project.
In your opinion, what are the three most important items in your project charter? How did each help you understand and explain your project better?
Give an example of how an incorrect assumption could become a risk.
How are project scope and product scope similar and different? Which is generally the focus of an Agile project?
Upon seeing the rough draft of your charter, your project sponsor asks you to move the finish date up by two months. What do you do?
What are the greatest advantages to using a computerized scheduling program like Microsoft Project?
Compare reasons for and various elements a project charter on a traditional versus an Agile project
Which of the following is not a purpose of an approved project charter?a. formally authorizes the existence of a projectb. provides detailed information about financial resourcesc. helps the team and
Adding to the project after it has already begun without making adjustments to time, cost, or resources is known as:a. scope creepb. riskc. milestonesd. acceptance criteria
“It is inconvenient and time consuming for employees to walk across campus every day to eat lunch, which is why we need an employee lunchroom in our building” is an example of:a. project scopeb.
What information does the project charter contain that signifies how the customer or user of the final product, service, or result will judge the deliverables, in order to determine that they have
The project charter should include “factors that are considered to be true, real, or certain without proof or demonstration.” These are known as ___________________.a. risksb. assumptionsc.
Which of the following is both a domain and a delivery principle according to the PMBOK 7e?a. Valueb. Stakeholdersc. Measurementd. Holistic thinking
What project charter component documents significant points or events in the project and, per the author, may be developed most effectively when combined with other information such as acceptance
You are the project manager. Upon presenting your charter to your sponsor, they requests several changes. What do you do?a. Agree to all the changes in order to make your sponsor happy.b. Refuse to
The charter is the primary deliverable of the ___________________ phase of a project’s lifecycle.a. selectingb. initiatingc. planningd. executing
According to the PMBOK, the rough order of magnitude for the summary budget within the project charter is ___________________.a. −100% to 200% accuracyb. −25% to +75% accuracyc. −5% to +10%
After identifying potential project risks, the project team should then ___________________.a. develop risk response plans for all identified risks.b. wait for the sponsor to conduct a risk
Consider a major team project for a class. Write the scope overview and business case sections of a charter.
Write the business case and scope overview sections of a project charter for a project in which your company is considering buying out another company.
You have started a project working with your peers at your rival college to create a “cross-town help-out.” You want to encourage many people in the community to contribute a day’s work on a
The decision made was to apply for Level One Arboretum Status. This was tentatively approved subject to signs being created for, and placed in front of, each of the tree species identified.
Which organizational structure is often used for small projects that require most of their work from a single department?
What is co-location, and why is it used?
What are organizational values, and why should a project manager be aware of them?
If more than one parent company is involved in a project, why is it important for the project manager to understand the culture of each?
What does the DMAIC model acronym stand for?When is this type of model used?
What distinguishes an Agile project life cycle model from other types of life cycle models?1
For what five activities is the project steering team responsible?
Who is responsible for ensuring that the steering team completes its tasks?
What types of control systems should a customer and contractor work together to set up and utilize?
What is meant by the term “servant leadership,” and how does it apply to project management?
What does it mean to have team members with high “emotional intelligence?”
What is the difference between development approach and life cycle and how are the two related?
Identify each of the four organizational culture types with respect to power, and the strongest motivator for each type. In which organizational cultures do you feel most and least comfortable
Explain multiple methods through which project managers can lead by example and/or demonstrate servant leadership.
Define your personal project code of ethics.
Brainstorm techniques that effective project leaders can use to resolve ethical conflicts on projects. How could a self-regulating Agile team resolve similar conflicts?
If a project will be divided into many phases, which development approach and life cycle model would you recommend using to plan it? Why?
Describe a possible imbalance between a project manager’s authority and responsibility. What impact might it have on a project?
All of the following are characteristics of a projectized organization except:a. Decision making is streamlined.b. Coordination is the responsibility of project managers.c. Functional managers have
Characteristics of an organizational culture can have a major impact on a project’s success. All of these are attributes of an organizational culture except:a. motivation and reward systemsb. risk

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