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INFO20172 chapter 4 and 5 - SELECT THE BEST ANSWER Flashcards | StudBud
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INFO20172 chapter 4 and 5 - SELECT THE BEST ANSWER
INFO20172 chapter 4 and 5 - SELECT THE BEST ANSWER
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StudBud Administration
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review chapters 4 and 5 from Schwalbe
Flashcards
28 cards
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Practice quiz
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Questions
28
Answers
1
Why is it important to calculate NPV?
$$ received in the future are worth less than $$ today
$$ received in the future are worth the same as $$ today
it is not important at all
$$ received in the future are worth more than $$ today
2
What components of a financial analysis do we examine in this course?
NPV, CIA, ROI
RACI, CMMI, ROI
cost of capital, discount rate, capitalization rate
NPV, ROI, Payback
3
What is a JAD used for?
as a cost management tool
to help understand all requirements
as a risk management tool
as a time management tool
4
A project charter is a long document.
False
True
5
Explicit and tacit knowledge are required for project management. What is tacit knowledge?
encyclopedic
tactile
reference
informal
6
Projects can be driven by a problem, an opportunity, or a directive. What is a directive?
something that prevents achieving organizational goals
none of the above
a chance to improve the organization
something imposed by an external influence
7
What is the result of coordinating all planning efforts into one document?
a compilation of work performance reports
organizational process assets
a list of deliverables
a project management plan
8
What is variance?
a list of deliverables
the difference between planned and actual performance
another term for WBS
validation of scope
9
Which is NOT an approach to developing a WBS?
bottom-up approach
analogy approach
top-down approach
functionality approach
10
In project management, what do we use SWOT to do?
tactical planning
budgetary planning
scope planning
strategic planning
11
What is the first step in creating a weighted scoring model?
assign a weight to each criterion
make sure the weights equal 100%
assign a score to each criterion
identify the criteria that are important to the project
12
What is a the most important part of Scope management?
creation and management of the costs
creation and management of the schedule
creation and management of the WBS
creation and management of the risk register
13
What is the name of the document that formally authorizes a project?
Project Management Plan
Project Initiation Document
Project Contract
Project Charter
14
In what document do we track and capture attributes of requirements?
project charter
work breakdown structure dictionary
work breakdown structure
requirements management plan
15
What is the relationship between IT projects and business strategy?
Business needs are secondary to IT projects.
There is no relationship.
The business strategy should guide IT project selection.
IT advancements should drive business projects.
16
Which is more difficult to describe, agree upon, and meet?
cost
quality
scope
time
17
What goes into a Lessons Learned document?
challenges, problems, risks, opportunities
organizational culture knowledge
what went well, what didn't
official signatures
18
What does Payback tell us?
measures the return on a project
when NPV = 0
when the project will recoup the money spent on it
tells us the required rate of return for the project
19
What is a baseline?
scope creep
cost forecasts in a spreadsheet
a documented starting point
schedule forecasts
20
Projects can be driven by a problem, an opportunity, or a directive. What is an opportunity?
something imposed by an external influence
a chance to improve the organization
something preventing an organization from achieving goals
none of the above
21
A project management plan is a long document.
False
True
22
"a condition or capability that is necessary to be present" for the business is a ...
requirement
task
work performance output
work item
23
What is the formula for calculating ROI?
((tot disc costs - tot disc benefits)/tot disc costs)
((tot disc benefits - tot disc costs)/tot disc benefits)
((tot disc benefits - tot disc costs)/tot disc costs) * 100%
((tot disc costs - tot disc benefits)/tot disc costs) * 100%
24
What is configuration management?
ensuring that descriptions of project products are correct
ensuring conformance to requirements
a way to manage expectations
management of benchmarks
25
Project management plans are static documents.
False
True
26
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, Threats
Scope, Weakness, Opportunities, Time
Support, WBS, Organizational culture, Time
Strengths, Worries, Organization, Time
27
Influencing the factors that create change to ensure that changes are beneficial is part of...
scope management
managing project knowledge
integrated change control
project integration management
28
Which WBS approach takes the longest?
analogy
mind-mapping
bottom-up
top-down
