Project Characteristics - Module 3

Terms Definition Example

Projects

Operations

Product

Business Scenario

Business Strategy

Subject Matter Experts

Program

Portfolio

Charter

Business Case

Project Life Cycle Phases

Defining

Planning

Executing

Closing

SMART Goals
Answer the following "T" for True or "F" for False.
Question
1
Organizations are complex entities that engage in two types of activities: operations and
projects. Operations are the day-to-day activities in which organizations engage. The
other activity is a project that modifies the business or its products for future
profitability.
2
Project managers must have competency in eleven distinct knowledge areas: integration
management, scope management, time management, cost management, quality
management, human resource management, communication management, risk
management, procurement management, stakeholder management, and the Microsoft
Project Management application.
3 Operations are the ongoing, daily activities of an organization that produces revenue and
expense. They continue over an indefinite period of time, processing business
transactions and delivering products and services that generate revenue. They are the
activities that typically are thought of as what the organization “does.”

A project is a temporary endeavor with a specified start and end date. It exists to develop
a unique product, service or result that may become a part of the organization’s ongoing
operations. A project may last a short time (days, weeks, months) or several years. It may
be undertaken by a single organization or by two or more organizations in partnership.
5 Projects selected by an organization do not need to be related to the organization’s
strategy.
6
If a project delivered what was specified in the project scope - product, service, result,
etc. - within the allotted amount of time and for the specified funding… then the project
is considered successful.
7 A project is a group of related programs.
8 Project Management is the application of knowledge, skills, tools and techniques to
project activities.
9 There are five phases in the project lifecycle: defining, planning, executing, monitoring
and closing.
10 The purpose of any project is to achieve some specified objective. This objective may be a
product, a service, or some other specified result.
Your Answer Feedback

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer
Please Answer

Please Answer

Please Answer
 Project Management and the Project Manager - Module 4
Terms Definition Example

Project Management

Project Manager

Triple Constraints

Working PM vs Dedicated PM

Communication Plan

Status Meetings

Stakeholder Analysis

Change requests (CR)

Change control board (CCB)

Project Reports

Collaboration Tools

Work Breakdown Structure

Conflict Management

PMI

PMBOK

PMP/CAPM

AXELOS

PRINCE2
Complete the following short statements. Your Response
1
Project teams now have a large number of tools at their
disposal to help the team collaborate and to help the project Please Answer
manager with the management of the project. They fall into
two categories: scheduling and _______________.
2
As project management organizations grew in size,
professional _______________ were developed as a way to Please Answer
capture, codify, and allow for the systematic growth of the
knowledge base of the practitioners.
3 A _______________ is anyone who has an impact on or is
Please Answer
impacted by the project.
4
An important part of the _______________ plan is
determining how project status meetings will be used to Please Answer
exchange information.
5 The Project Manager (PM) is responsible and accountable for
Please Answer
managing the project to maximize its _______________.
6
Project performance is measured against the baselines of
time, cost and scope. This is often referred to as the Please Answer
_______________ constraints of a project.
7

At the beginning of the project, the Project Manager conducts Please Answer
the _______________ to define the relevant stakeholders,
their interests, and their communication needs.
8 If _______________ aren’t easy to read and understand by Please Answer
the recipient, they are useless.
List of Words
A) success
B) triple
C) stakeholder
D) communications
E) stakeholder analysis
F) reports
G) collaboration
H) standards
 Organizational Structures - Module 5
Terms Definition Example

Functional/Departmentalized Org

Matrix Org

Strong/Weak Matrix Org

Projectized Org

PMO

Subject Matter Expert

OPM3 Organizational Maturity Levels

Ad Hoc

Planned

Managed

Integrated

Sustained
Answer the following "T" for True or "F" for False.
Question Your Answer
1 There are essentially three types of organizational structures:
Functional (Departmentalized), Projectized and Matrix.
2
The functional (departmentalized) organization is the newest and
most basic form of organization. It is the type of organization most
often represented in corporation shareholder reports.
3
Advantages of the functional (departmentalized) organization
include: lines of authority are clear, departmental work is easily
prioritized by a departmental manager and subject matter experts
(SME) available to work on multiple projects.
4
Disadvantages of the functional (departmentalized) organization
include: utilizing resources across functions can be difficult, requests
for assistance from other departments not easily prioritized and
there is flexibility in the use of staff.
5
In the projectized organization, subject matter experts (SMEs) from
different functional areas are assigned to directly report to the
project manager (PM) for a specific project.
6
Advantages of the projectized organization include: there are clear
lines of authority, and the project manager has full authority, the
project is managed holistically and response to customer and
stakeholder issues is faster and clearer.
7
Disadvantages of the projectized organization include: project
managers must have enough work to keep subject matter experts
busy full-time or risk loss to another project and team members lose
access to a repository of functional or technical expertise.
8
The principle differentiation between a matrix structure and either a
functional or a projectized structure is that a matrix has less clearly
defined lines of reporting.
9
Advantages of the matrix organization include: central focus is the
project, customer issues are responded to quickly and the person
with decision-making power is not always clearly identified.
10
Disadvantages of the matrix organization include: requires
cooperation and coordination between and among functional
departments and project managers, and resource balancing between
projects can lead to friction.
 Feedback
Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer
 Project Selection - Module 8
Terms Definition Example

Project Selection Model Criteria

Realistic

Capable

Flexible

Easy to Use

Low Cost

Comparable

Non-numeric Selection Methods

Competitive Necessity

Operating Necessity

Sacred Cow

Checklist Model

Numeric Selection Criteria

Scoring Criteria

Weighted Factor Scoring Model

Time Value of Money

Opportunity Cost

Payback Period

Internal Rate of Return

Net Present Value

Future Net Cash Flows

Discounted Cash Flows

Complete the following short statements. Your Response
1 Payback _______________ calculates the amount of time
Please Answer
required to earn back the cost of doing the project.
2
Which project selection model(s) to use depends on the goals
of the company. A widely accepted framework includes the Please Answer
following criteria: realistic, capable, flexible, easy to use, low
cost and _______________.
3 Project selection models fall into two general categories: non-
Please Answer
numeric and _______________.
4 Numeric project selection models use financial and other
Please Answer
_______________ measures to drive decision making.
5 Project selection is the process of identifying which project(s)
Please Answer
an organization will _______________.
6 The internal rate of return (IRR) evaluates potential projects as
Please Answer
if they were _______________ investments.
7
Net present value (NPV) is a financial measure of the total
future benefits of a project minus the _______________ of Please Answer
the project.
8
Checklist models are a frequently used non-numeric method
for project selection and use a series of _______________ to Please Answer
evaluate each potential project.
9
The use of a _______________ model extends the benefits of
the checklist approach and overcomes some of its Please Answer
weaknesses.
10
The concept of _______________ value of money suggests
that money is worth more to an organization now than in the Please Answer
future.
List of Words
A) undertake
B) comparable
C) numeric
D) quantitative
E) scoring
F) time
G) period
H) financial
I) costs
J) questions
 The Phases of the Project Life Cycle - Module 11
Terms Definition Example

Project Life Cycle Phases

Defining

Planning

Executing

Closing

Project Scope

Project Justification

Project Sponsor

Project Charter

Iterative Processes

Monitoring & Controlling

Answer the following "T" for True or "F" for False.
Question Your Answer
1
To gain a better understanding of how the activities vary across the
project’s life cycle, we group the activities into phases. The four general
phases are identified as defining, planning, executing, and closing.
2
During the project defining phase, the idea for the project is formalized into
a project proposal and the decision on whether the project will be selected
for implementation is made.
3 The project planning phase is when high-level planning occurs.
4 he project executing phase is when the bulk of the work to complete the
project outcomes occurs.
5
The project closing phase is when the project outcomes are delivered to the
customer and/or sponsor and the customer and/or sponsor evaluates them
to determine if they are acceptable - deliverables are ready, the budget and
time requirements are met and quality is achieved, and lessons learned are
documented.
6
The process of gathering information from the customer and stakeholders
in order to define the high level project outcomes is called collecting
customer nonessentials.
7
The goal of planning is to develop a plan that is comprehensive enough that
the schedule can be managed, the budget is accurate, and the activities are
defined clearly so that team members understand what work needs to be
completed.
8
If the project manager detects that the project is not being executed as
planned, she may need to intercede in order to correct the situation. We
call this process watching and commanding.
9
The activities of project closure can be grouped into three areas. The first
step is to turn the project final deliverables over to the customer and/or
sponsor. The second step is to close out all the procurements. In the third
step, we complete the administrative work to closeout the project.
10
During the closing phase of a project, the project manager documents the
lessons learned. The lessons learned have great value to the project
organization because they provide guidance for past projects.
 Feedback

Please Answer

Please Answer

Please Answer
Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer
 Triple Constraints of Projects - Module 12
Terms Definition Example

Statement of Work

Scope

Time

Cost

Scope Creep

Scope Reduction

Project Baseline

Project Quality
Complete the following short statements. Your Response
1
The _______________ path is defined as the path with the
longest duration from the start of the project to its Please Answer
completion.
2
The key to creating a budget is careful and complete
documentation of the _______________ that come from the Please Answer
project planning phase.
3 Key to any conversation about the triple constraint is how
Please Answer
_______________ impacts the project.
4 The project schedule, in its simplest form, is defined by its
Please Answer
beginning and _______________ dates.
5 The project cost is the _______________ of all expenses
Please Answer
directly charged to the project.
6 The project _______________ establishes the expected scope,
Please Answer
the expected cost, and the expected schedule.
7 In project management the triple constraint includes time,
Please Answer
scope and _______________.
8 The project _______________ is what the result of the project
Please Answer
is desired to be.
9
A well-written scope will clearly define every aspect of the
project including functions and features, quality expectations, Please Answer
and time constraints. This is extremely important in helping
avoid scope _______________.
10
It is important to understand how the triple constraints act
and _______________ to one another and reflect the possible Please Answer
success of meeting the customer’s expectations.
List of Words
A) cost
B) scope
C) creep
D) end
E) sum total
F) baseline
G) critical
H) assumptions
I) quality
J) react
 Project Management Methods - Module 15
Terms Definition Example

PERT

CPM

CCPM

Waterfall Method

PRINCE2

Complexity in PM

Uncertainty in PM

Project Processes

Initiating

Planning

Executing

Monitoring & Controlling

Closing

Project Termination

Traditional Methods

Agile Methods

Scrum

Extreme Project Management

Answer the following "T" for True or "F" for False.
Question Your Answer
1 Project evaluation and review technique (PERT) was
developed to support the Navy's Polaris missile project
2 CPM stands for Critical Path Method used for estimating
project activity durations.
3 Critical chain project Management (CCPM) does not
assume that resources to complete the project are in
limited supply.
4 In a waterfall model, each phase must be complted before
the next phase can begin and thre is no overlapping in the
phases.
5 PRINCE2 stand for Project in Controlled Environments,
focusing on specification of outputs including very specific
processes and terminology.
6 The five steps are logical groups of processes which
outline what must occure in order to manage a project
7 The five steps are starting, planning, executing, monitoring
and controlling and closing.
8 monitoring and controlling are iterative processes as they
are repeated as needed to revise the plan and re-execute
until the project is ready for closure
9 Processes completed during planning include finalizing the
project scope, budget and schedule.
10 Receiving sign-off from the customer is not necessary
during the closing phase.
 Feedback
Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer
 Project Planning - Module 18
Terms Definition Example

Project Charter

Project Scope

Checklist

Statement of Work

Work Breadown Structure

Living Documents

Product Scope

Make/Buy Decision

Project Requirements

Requirements Traceability Matrix

Project Deliverables

Resource Responsibility Matrix

Histogram

Resource Levelling

KSA
Complete the following short statements. Your Response
1 Skills required by a project team are Please Answer
sometimes called ____________________.
2
The features and functions of the project
outcome that form the project scope are the Please Answer
_______________ .
3
Constructive ____________ takes place when
individuals come together to redefine or Please Answer
strengthen their relationship for the greater
good of the parties involved.
4 ______________ is a key non-cognitve skill Please Answer
that a PM should have.
5 ____________________ documents the roles Please Answer
and responsibilities of the activities.
6
The ___________________ will document the Please Answer
customer's expectations schedule and cost.
7 The _______________defines the features and Please Answer
functions of the project outcome.
8

A _______________ is a graphical Please Answer

representation of the number and types of
resources required over specific time periods.
9
___________ provides an outline of the
project objectives, identifies thae main Please Answer
stakeholders and defines roles and
responsibilities.
10 A ______________influences the actions and Please Answer
behaviours of others.
Answers
A) project charter
B) project scope
C) product scope
D) project deliverables
E) Resource Responsibility Matrix
F) Histogram
G) Knowledge, Skills and Abilities (KSAs)
H) Leader
I) conflict
J) self-control
 The Work Breakdown Structure - Module 19
Terms Definition Example

Purpose of WBS

Deliverable

Activity

Task

8/80 rule

Hierarchical Numbering
Complete the following short statements. Your Response
1
The ______________rule means we do not assign
anything that takes less than eight hours and we do not
want to assign a task that takes more than 80 hours or
two work weeks to complete.
2
A ____________________in project management and
systems engineering, is a deliverable-oriented
breakdown of a project into smaller components.
3 _________________ is a tool for doing a WBS?
4
All deliverables must be provided t and accepted by the
customer and meet the ______________ agreed to in
the charter.
5 ______________ is a specific product or functionality
that the project will provide
6
An ___________________ is a portion of work that will
be executed as part of the project to create the
specified deliverables.
7 The term _______ is often used to describe specific
actions taken to complete an activity.
8
The Work Breakdown Structure (WBS) follows the
same levels recognized in the defining and planning
phases of the project or program. The top level starts
with ____________.
9
When we complete the ____________ of the project,
we will have a charter/customer agreement/contract
for the project.
10
Before we can complete a Gantt or PERT chart or use
other project management methodologies, we need to
define the _________ to be completed.
Please Answer

List of Words
Please Answer A) deliverable
B) activity
C) task
Please Answer D) work-breakdown structure (WBS)
E) 8/80
Please Answer F) Programs
G) defining phase
H) tasks
I) whiteboard/sticky notes
Please Answer J) scope, budget, schedule, and quality

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer
 Planning for Risk - Module 20
Terms Definition Example
Risk
Risk Appetite
Risk Tolerance

Risk Threshold

Risk Management

Risk Responses

Avoidance

Mitigation

Transfer

Acceptance

Opportunity Management

Acceptance

Enhancing the opportunity

Sharing the opportunity

Risk Categories

Organization

External

Technical

Risk Register

P*S Score
Answer the following "T" for True or "F" for False.
Question Your Answer Feedback
1 Communication is a key element of recognizing,
planning for, and managing risk. Please Answer
2 Risk is any uncertainty in an event or condition that
may impact the project. Please Answer
3 According to the PMBOK, an organization’s risk
acceptance can be classified into three levels: risk Please Answer
hunger, risk tolerance and risk threshold.
4 It is important to identify risks, analyze risk for both
quantitative and qualitative impact and generate risk Please Answer
responses for all risks that are identified.
5 One possible source of risk is changing environmental
conditions. Please Answer
6 Risk Planning is the process of reviewing every aspect
of the project to identify what risks may occur. Please Answer

7 One tool not recommended in the PMBOK is a Risk

Breakdown Structure (RBS) which follows the WBS
and insures that each activity and task in the WBS is
reviewed for risk and opportunity and documented as Please Answer
identified.

8 Strategies for responding to risks identified in the

planning process fall into three categories: avoidance, Please Answer
transfer or ignore the risk.
9 Opportunity Management includes acceptance,
enhancing the opportunity and sharing the Please Answer
opportunity.
10 The risk register lists all risks and assigns cores for
probability and severity. Please Answer
 Project Budgeting: Estimating Cost - Module 21
Terms Definition Example

Top-Down Estimation

Parametric Estimation

Ratio Method

Apportion Method

Bottom-up Estimation

Cost Management

Baseline Budget

Direct Costs

Direct Overhead Costs

General & Administrative Costs

Padding

Contingency Reserve

Management Reserve

Calendarized Budget

Simple Budget
Complete the following short statements. Your Response
1 In ___________ an expert determines the length of the
project duration based on their past.
2 The concept of ______________ involves
overestimating tasks in order to ensure the project
does not end up going over budget or schedule.
3 _________________ are associated with the WBS
tasks that will be carried out to complete the project.
They will not be incurred if the project is not executed.

4 Extra money in the budget used to cover known risks is

called __________________.
5 ______________ is a a technique where the people
who are assigned to perform the WBS tasks are asked
how long they think their tasks will take; these are
combined to put together the overall project baseline.

6 The ___________________ breaks out the baseline

into appropriate phases for projects where the
percentage of costs associated with that phase are
known.

7 The term _______ is used to describe an estimation

technique where the baseline is estimated by
comparing the proposed project's size to the size of a
similar project that was recently completed.

8 Money that will be spent whether or not the project is

selected, such as utilities or salaried personnel from
support departments like human resources may be
partially allocated to the project budget in the form of
____________.

9 A project where all the money is allocated before the

project begins uses a ____________.
10 A long, complex project will often use a
________________ in order to help the project team
stay on track and to reduce the amount of money that
must be provided by the sponsor at the beginning of
the project.
Please Answer

List of Words
Please Answer A) Ratio Method
B) Apportion Method
C) Bottom-up Estimation
D) Padding
E) Direct Costs
Please Answer F) Overhead Costs
G) Calendarized Budget
H) Simple Budget
I) Top-down Estimation
Please Answer J) Contingency Reserve

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer
 Activity Duration Estimating - Module 24
Terms Definition Example

Duration

One Point Estimate

Triangular Distribution

Beta Distribution

Standard Deviation

Deterministic Estimate

Probabilistic Estimate

Learning Curve
Answer the following "T" for True or "F" for False.
Question Your Answer Feedback
1

Padding estimations for activity durations Please Answer

is a good practice for PM teams to
follow.
2
Deterministic duration estimation
techniques are used when predicting the Please Answer
results of an activity is not predictable in
any way.
3 A one point estimate will rely on the Please Answer
expert knowledge of a SME.
4
The triangular distribution estimating
method relies on weighting the most Please Answer
likely estimate to give that value more
importance.
5
The three point estimating technique
relies on averaging the three values Please Answer
brought forward by SMEs for the
optimistic, pessimistic, and most likely
durations.
6

The Beta Distribution method of activity Please Answer

duration estimating was developed un
the 1950's by the US Navy.
7
The triangular three point estimation
technique for the following problem
results in an estimate of 9 hours. Please Answer
Optimistic values is 6 hours, Pessimistic
value is 12 hours, and the most likely
estimate is 8 hours.
8
The Learning Curve for an individual gets
steeper as they increase their knowledge Please Answer
on the topicby doing several tasks over
and over.
9 In any project, the WBS is the starting Please Answer
point for estimating activity durations.
10

The formula for calculating the standard Please Answer

deviation for problem 7, you need to
calculate P-O/6 which equals +/- 1 day.
 Developing a Network Diagram - Module 25
Terms Definition Example

Nodes

Precedence Relationships

Finish to Start

Finish to Finish

Start to Start

Start to Finish

Network Diagram

Gantt Chart

Lead/Lag Time
Answer the following "T" for True or "F" for False.
Question Your Answer
1 A network diagram is a visual depiction that shows the people
how the project is organized by task according to when, in what
order, and how the activities relate to each other.
2 Every entry in a network diagram receives a node entry.
3 Another name for a network diagram is a precedence diagram
4 A task that has to be completed before the next task can start is
called a predecessor or immediate predictor.
5 Activities within the schedule that will take place at the same time
are called concurrent activities.
6 Activities within a project that have to be completed in a
particular order either due to the predesessor environment or a
special circumstance are called seriel activities.
7 A network diagram is a graphic image of the schedule of a project
and how the phases and tasks in the project will be ordered to
clarify how the project is ordered.
8 The principle differentiation between a matrix structure and
either a functional or a projectized structure is that a matrix has
less clearly defined lines of reporting.
9 Task relationships help to define accurate and realistic project
plans and schedules. The most common relationship between
tasks is the start to finish relationship.
10 Lead or lag time helps to align the tasks so the duration can be
shortened.
11 A Gantt chart is used to graphically display the relationship
between tasks and help people visually see how the tasks will
relate when the project is fully underway.
12 The critical path for the project is not typically shown on a Gantt
chart.
 Feedback

Please Answer

Please Answer
Please Answer
Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer
 Constructing the Critical Path - Module 26
Terms Definition Example

Critical Path

Float

Slack

Schedule Compression

Fast Tracking

Crashing

Critical Chain
Answer the following "T" for True or "F" for False.
Question Your Answer Feedback
1 Total float is the difference between the finish
date for the last activity on the critical path Please Answer
and the scheduled start date.
2 The term slack is sometimes used in place of
float. But the full definition is the amount of
time an activity, network path, or project can
be delayed from the early start without Please Answer
changne the completion date.

3 It is called negative float when a project has a

completion date later than targeted and Please Answer
scheduled project finish date.
4 Forward and backward passes are just terms
used in the game of football. They do not refer
to any activity with the field of project Please Answer
management.

5 When you create the greatest amount of

compression possible in a project with little Please Answer
cost or time loss, this is called crashing.
6 Advantages of the projectized organization
include: there are clear lines of authority, and
the project manager has full authority, the
project is managed holistically and response to Please Answer
customer and stakeholder issues is faster and
clearer.

7 While the critical path is the longest time

period for the total project from start to end,
the critical chain adds in the scheduled time
buffers to successfully manage the limited Please Answer
resources.

8 To successfully compress the schedule in a

project, the PM must find ways to do work
faster, do less work, and never reduce the Please Answer
quality of the work.

9 Issues that need to be considered when

compressing the schedule of a project,
increase cost needs to be weighed along with
possible reduced functionality and quality of Please Answer
the end project.

10 Schedule compression techniques can cause

decrease in costs and increase in quality of the Please Answer
final project.
 Developing Effective Project Teams - Module 29
Terms Definition Example

Stages of Team Development

Forming

Storming

Norming

Performing

Adjourning

Co-located Teams

Virtual Teams
Answer the following "T" for True or "F" for False.
Question Your Answer
1 When developing effective project teams, all members are
workign together to reach a mutually agreed-upon goal or
objective.
2 All kind of creatures work better together because they all agree
on the goal while cooperatively working together. Each team
member helps others when problems arise, and team members
contribute by working at what they do the best, and encourage
their best effort by teammates, while working better as a team
than on their own.

3 Three essential drivers of team success is cohesiveness, trust,

and evaluation.
4 The third step in effective team development model developed
by Dr. Bruce Tuckman is norming.
5 If teams are co-located, they usually move through the 5 team-
building stages more quickly due to the increased member
interaction.
6 Virtual teams can meet in various methods including conference
calls, closed-circuit television, web-base meetings, or a
combintion of two or more.
7 The issue of time zones is a minor detail for those virtual team
meetings.
. Newsletters, blogs, or online record-keeping all help virtual
teams and projects move forward with a strong orginztional
method and keep the communication integrated regardless of
team member location.

9 The important factor that needs to be reinforced is the attitude

of us versus them between the co-located and virtual teams.

10 The five stages of effective team building are: forming, storming,

norming, performing, and reforming.
 Feedback

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer

Please Answer
 Monitoring Project Performance - Module 30
Terms Definition Example

Change Management Process

Identify Change

Evaluate Change

Decision

Communicate Change

Contingency Plans

Corrective Action

Scope Creep

Work Performance Data

Project Controls

Quality Management

Quality assurance

Quality audit

Quality control
Answer the following "T" for True or "F" for False.
Question Your Answer Feedback
1 Monitoring is a critical part of the PM process. It is
a necessity since no plans and execution steps are Please Answer
flawless and need no modification.
2 The iterative terminology refers to the process of
planning/executing/monitoring & controlling that
is followed in the monitoring the project progress. Please Answer

3 The baseline scope will remain in effect until the

project is completed or only changed once a
change management request is approved to Please Answer
modify the baseline as necessary.

4 Two common situations that can result in a

baseline scope change include expansion of the
scope to add a new functionality to the project or
a reduction in the project scope due to financing Please Answer
changes or requirements (time or scope specifics).

5 In the projectized organization, subject matter

experts (SMEs) from different functional areas are
assigned to directly report to the project manager Please Answer
(PM) for a specific project.

6 Scope creep is an activity that all teams must

watch for and be prepared to deal with when
working on projects to insure necessary changes
have been evaluated and approved for Please Answer
modification of the baseline scope.

7 During the actual project activity, it is not

important to monitor the project costs, but focus
most on the project schedule to make sure the Please Answer
project will finish on schedule.

. The principle differentiation between a matrix

structure and either a functional or a projectized
structure is that a matrix has less clearly defined Please Answer
lines of reporting.

9 The baseline budget is adjusted every time a scope

change is approved. Please Answer
10 Quality monitoring and corrective actions are
necessary to insure the project is successful. The
four categories of change are: scope
change,contingencies, improvement plans, and Please Answer
internal events.
 Earned Value Management - Module 31
Terms Definition Example

Earned Value

Actual Cost

Planned Value

Budget at Completion

50/50 Rule

0/100 Rule

Cost Variance

Cost Performance Index

Schedule Variance

Schedule Performance Index

To Complete Performance Index

Percent Complete Index

Estimate to Complete

Estimate at Completion
Complete the following short statements. Your Response
1 The _________ represents the dollar value of
the difference between the work that is
completed already and the work that the
schedule shows should be completed at a given Please Answer
point in time.

2 The ___________ is a shortcut used to calculate

how much work has been completed so far
while minimizing distrations due to reporting Please Answer
requirements.

3 In order to compare the amount of work left for

the team to complete to the amount of money
left in the budget, the _________ calculation is Please Answer
used.

4 If a manager asks how much money the project

team is likely to spend to complete the project,
the project manager would report the Please Answer
________________.

5 ____________________ documents the

difference between the value of work Please Answer
completed and the cost of that work.
6 The ___________________ is a report of the
total expenditures to date on a project. Please Answer
7 The _______________ for any given date of a
project can be calculated before the project Please Answer
even begins.
8 The ___________ is a ratio of the value of the
work completed so far and the money spent to Please Answer
complete that work.
9 The formulas that show us how far off from our
baseline schedule and budget start with
__________, which is an indicator of what the Please Answer
work we have completed so far is worth.

10 The formula _______________ allows us to

compare how well various teams are sticking to
the established project timeline, even if those
teams are different sizes or happen at different Please Answer
times in the project.
Answers
A) Earned Value
B) Actual Cost
C) Planned Value
D) 50/50 Rule
E) Cost Variance
F) Cost Performance Index
G) Schedule Variance
H) Schedule Performance Index
I) Estimate at Completion
J) To Complete Performance Index
 Project Closeout - Module 32
Terms Definition Example

Lessons Learned

After Action Review

Vendor Closing Checklist

Checklist
Answer the following "T" for True or "F" for False.
Question Your Answer Feedback
1 The After Action Review helps the Project Manager
determine whether the quality of deliverables Please Answer
meet expectations.
2 A Vendor Closing Checklist helps ensure all
requirements laid out in a contract have been met Please Answer
before paying the bills.
3 A company that does not have a PMO will not
benefit from analyzing and recording lessons Please Answer
learned at the close of a project.
4 Lessons Learned can help when planning all three
of the triple constraints on future projects. Please Answer
5 If a project is terminated earlier than planned at
phase-gate review, a lessons learned analysis is not Please Answer
required.
6 It is important to determine possible causes of
scope creep as part of lessons learned. Please Answer