ISTM 630 -Test 1 Questions with
Solved Solutions.
What percent of it projects were cancelled before completion - Answer 31% costing the US
$81 billion
Define project - Answer Temporary endeavor undertaken to create a unique product, service
or result.
Define Operations - Answer Work done to sustain the business
Project Attributes - Answer -unique purpose and temporary
-Developed using progressive elaboration
-Requires Resources
-Should have primary customer or sponsor
Project sponsor - Answer Provides direction and funding for a project
What is a program? - Answer A group of related projects manages in a coordinated way to
obtain benefits and control not available from managing them individually
Project V Program Managers - Answer Program managers are the "bosses" for project
managers
Stakeholders - Answer The people involved in or affected by the project activities
Triple Constraint - Answer -Scope: what work will be done?
-Time: how long should it take to complete?
-Cost: what should it cost?
Project manager needs to balance these three things
Define Project Management - Answer The application of knowledge, skills, tools, and
techniques to project activities to meet project requirements.
10 Project Management Knowledge Areas - Answer -Scope, time, cost, and quality
, -HR, communication, risk, and procurement management
-Project integration management
-Stakeholder management
Key competencies for PM's
Project Portfolio Management - Answer Organizations group and manage projects as a
portfolio of investments that contribute to the enterprise's success.
High risk high payoff, Low risk high payoff, High risk low payoff, low risk low payoff
Advantages of using formal Project Management - Answer Better control of financial,
physical, and human resources
Improved customer relations
Shorter development times
Lower costs
Higher quality and increased reliability
Higher profit margins
Improved productivity
Better internal coordination
Higher worker morale
Project Success Factors - Answer 1. executive support
2. user involvement
3. experienced project manager
4. clear business objectives
5. minimized scope
6. standard software infrastructure
7. firm basic requirements
8. formal methodology
9. reliable estimates
10. other criteria, such as small milestones, proper planning, competent staff, and ownership.
Role of project manager - Answer Planning, scheduling, coordinating, and working with
people to achieve goals.
Solved Solutions.
What percent of it projects were cancelled before completion - Answer 31% costing the US
$81 billion
Define project - Answer Temporary endeavor undertaken to create a unique product, service
or result.
Define Operations - Answer Work done to sustain the business
Project Attributes - Answer -unique purpose and temporary
-Developed using progressive elaboration
-Requires Resources
-Should have primary customer or sponsor
Project sponsor - Answer Provides direction and funding for a project
What is a program? - Answer A group of related projects manages in a coordinated way to
obtain benefits and control not available from managing them individually
Project V Program Managers - Answer Program managers are the "bosses" for project
managers
Stakeholders - Answer The people involved in or affected by the project activities
Triple Constraint - Answer -Scope: what work will be done?
-Time: how long should it take to complete?
-Cost: what should it cost?
Project manager needs to balance these three things
Define Project Management - Answer The application of knowledge, skills, tools, and
techniques to project activities to meet project requirements.
10 Project Management Knowledge Areas - Answer -Scope, time, cost, and quality
, -HR, communication, risk, and procurement management
-Project integration management
-Stakeholder management
Key competencies for PM's
Project Portfolio Management - Answer Organizations group and manage projects as a
portfolio of investments that contribute to the enterprise's success.
High risk high payoff, Low risk high payoff, High risk low payoff, low risk low payoff
Advantages of using formal Project Management - Answer Better control of financial,
physical, and human resources
Improved customer relations
Shorter development times
Lower costs
Higher quality and increased reliability
Higher profit margins
Improved productivity
Better internal coordination
Higher worker morale
Project Success Factors - Answer 1. executive support
2. user involvement
3. experienced project manager
4. clear business objectives
5. minimized scope
6. standard software infrastructure
7. firm basic requirements
8. formal methodology
9. reliable estimates
10. other criteria, such as small milestones, proper planning, competent staff, and ownership.
Role of project manager - Answer Planning, scheduling, coordinating, and working with
people to achieve goals.
