ISMN-5370 PROJECT MANAGEMENT TEST 1 - DR. PRATT; AUBURN UNIVERSITY QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026

ISMN-5370 PROJECT MANAGEMENT TEST 1 - DR. PRATT; AUBURN UNIVERSITY QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 What is a Project? - Answers A temporary endeavor undertaken to create a unique product, service, or result. Temporary - Answers Definitive beginning and end -A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources Unique - Answers New undertaking; Unfamiliar ground What is Project Management? - Answers The application of skills, knowledge, tools and techniques to meet the needs and expectations of stakeholders for a project What is the PURPOSE of Project Management? - Answers Prediction and Prevention, NOT Recognition and Reaction What is the ROLE of Project Managers? - Answers Project Managers strive to meet the Triple Constraint; 1) Project Scope 2) Time 3) Cost Goals - PMs also facilitate the entire process to meet the needs and expectations of stakeholders What SKILLS do Project Managers need? - Answers Leadership, Communication, Ability to set Expectations What is the difference between Project, Program, and Portfolio Management? - Answers Project - a temporary endeavor undertaken to create a unique product, service, or result Program - group of projects that are similar or related to one another, and which are often managed and coordinated as a group instead of independently Portfolio - group of different programs and/or projects within the same organization, which may be related or unrelated to one another Project Management Office (PMO) - Answers A group — internal or external to a company — that sets, maintains and ensures standards for project management across that organization What is the ROLE of the Project Management Institute (PMI)? - Answers Advance the professional field of Project Management by setting standards through Certified Education and Development, and by conducting Research and Professional Conferencing What are the 5 Project Management Process Groups? - Answers 1. Initiating 2. Planning 3. Executing 4. Monitoring & Control 5. Closing The Principle Statements (1-3) - Answers 1. Be a Delight, Caring, and Respectful Steward 2. Create a Collaborative Project Team Environment 3. Effectively Engage with Stakeholders The Principle Statements (4-6) - Answers 4. Focus on Value 5. Recognize, Evaluate, & Respond to System Interactions 6. Demonstrate Leadership Behaviors The Principle Statements (7-9) - Answers 7. Tailor based on Context 8. Build Quality into Processes & Deliverables 9. Navigate Complexity The Principle Statements (10-12) - Answers 10. Optimize Risk Responses 11. Embrace Adaptability & Resiliency 12. Enable Change to Achieve the Envisioned Future State Tailoring - Answers Adapting to the unique context of the project to determine the most appropriate methods of producing the desired outcomes - An iterative approach which is a continuous process throughout the project **Design the Project Development Approach based on the Context of the project Organizational Structure - Answers Defines how job tasks are formally divided, grouped, and coordinated FUNCTIONAL Organizational Structure - Answers - Organization's staff members are grouped together based on Work Type (marketing, finance, engineering, etc.) forming departments - Most common organizational structure - Pyramid shaped - Project Managers have little to none Authority - Functional Manager has highest authority PROJECT-ORIENTED Organizational Structure - Answers - Entire organization is organized in the form of Projects - Project Managers have FULL CONTROL of the Project and its resources - Grouped together based on projects MATRIX Organizational Structure - Answers - Work is structured around specific Projects, Products, or Customer Groups - BLEND of Functional and Project-Oriented - Team member report to 2 Managers: 1)Functional Manager 2)Project Manager - Team members do both Project Work and Departmental Work HYBRID Organizational Structure - Answers - Involves Multiple Organizational Structures at various levels EX) A functional organization may create a special project team to handle a critical project, and allow a Projectized structure for that project. Such a project may develop its own set of operating procedures and reporting formats etc. Agile Project Management - Answers - An iterative approach to managing projects that readily adapts to new and changing requirements - Allows ability to release benefits throughout the process than all at the end (Software dev.) - Provides for continuous requirements gathering and feedback - Teams are self-organized and self-directed. Business Value - Answers - The net quantifiable benefit derived from a business endeavor - Considered the return in elements, such as Time, Money, Goods, or Intangibles **Can be Tangible, Intangible, or Both Business Case - Answers - Provides Justification for undertaking a Project - It evaluates the benefit, cost and risk of alternative options and provides a rationale for the preferred solution Stakeholder Engagement - Answers - A process by which managers involve individuals and groups who may be affected by their decisions in those decisions Effective Stakeholder Engagement Steps - Answers - Identify - Understand & Analyze - Prioritize - Engage - Monitor INTERNAL Enterprise Environmental Factors - Answers - Organizational culture, structure, and governance - Geographic distribution of facilities and resources - Infrastructure - Information technology software - Resource availability - Employee capability - Security & Safety EXTERNAL Enterprise Environmental Factors - Answers - Marketplace Conditions - Government Regulations - Social and Cultural Influences and Issues - Commercial Databases - Industry Standards - Financial Considerations - Physical Environment - Academic Research Project Scope Management Processes - Answers 1. Plan Scope Management 2. Collect Requirements 3. Define Scope 4. Create WBS 5. Validate Scope 6. Control Scope Scope Management Plan Contents - Answers - Prepare a detailed Project Scope Statement - Create a WBS - Maintain & Approve the WBS - Obtain formal Acceptance of the Completed project deliverables - Control requests for changes to the project scope Epics - Answers - Large bodies of work that can be broken down into a number of smaller tasks (called stories) - Often encompass multiple teams, on multiple projects, and can even be tracked on multiple boards ***In general, any scope of work that the team estimates at "weeks" (or longer) to complete, rather than "hours" or "days" should be considered an epic and broken down into smaller stories - Made up of MULTIPLE User Stories