Project Management Exam 2 Study
Guide
Planning Projects Processes - Question and answers-Plan quality management
-Plan resource management *estimate activity resources
-Plan communications management
-Plan risk management
*identify risks
*perform risk analysis
*plan risk responses
-Plan procurement management
-Plan stakeholder engagement
Quality - Question and answersthe degree to which a set of inherent characteristics
fulfill requirements
Conformance to Requirements - Question and answersthe project's processes and
products meet written specifications
Fitness for Use - Question and answersa product can be used as it was intended
(Quality )Metric - Question and answersa standard of measurement
*allows organizations to measure their performance in certain areas & to compare them
over time or with other organizations
-ex. failure rates of a product
Project Organization Chart - Question and answersa graphical representation of how
authority & responsibility are distributed within a project
RACI Chart (pg. 199) - Question and answersa type of responsibility assignment matrix
showing the responsibility, accountability, consultation, informed of project stakeholders
Responsibility - Question and answerswho does the work
Accountability - Question and answerswho signs off on the work or has authority for it
Consultation - Question and answerswho has information necessary to complete the
work
Informed - Question and answerswho needs to be notified of work status/results
Staffing Management Plan - Question and answersdescribes when and how people will
be added to and removed from a project
-describes the number of and types of people needed to work on the project
, -describes how these resources will be acquired, trained, rewarded and reassigned
after their work on the project is completed
Team Charter - Question and answersa document created to help promote teamwork
and clarify team communications; guides how the team will function
Communications Management Plan - Question and answersa document that guides
project communications
-describes who will provide and receive data, when and how the information will be
presented
Stakeholder Engagement Plan - Question and answers-describes the idiosyncrasies of
each individual stakeholder used to guide the project team in effectively engaging
stakeholders to make sure good decisions are made throughout the life of the project
-includes sensitive information
-may include: current and desired engagement levels of key stakeholders, scope and
impact of change to stakeholders etc.
Risk Management Plan - Question and answers-documents the procedures for
managing risk throughout the life of the project
-outlines how risk management will be performed on a certain project
ex. contingency and fallback plans
Contingency Plans - Question and answers-predefined actions that the project team will
take if an identified risk event occurs
-If mold or asbestos is found when demoing a project, then the project team will issue a
stop work order and call the abatement company
Fallback Plans - Question and answers-developed for risks that have high impact on
meeting project objectives, and are put into effect if attempts to reduce the risk are not
effective
*contingency plans of last resort
Dimensions of Risk Events - Question and answers1. Probability of the risk event
occurring
2. Impact or consequence if the risk does occur
(high, medium, low)
Risk Probability/Impact Matrix (pg. 216) - Question and answers-a chart that depicts the
probability and impact of risk events
-project stakeholders identify and list the risk events related to their projects, label each
risk event (high, medium, low) in terms of probability of occurrence and level of impact,
PM summarizes the results in the matrix
*project teams should initially focus on risk events that fall in the high sections of the
matrix and develop strategies for minimizing negative risk events and maximizing
positive ones
Guide
Planning Projects Processes - Question and answers-Plan quality management
-Plan resource management *estimate activity resources
-Plan communications management
-Plan risk management
*identify risks
*perform risk analysis
*plan risk responses
-Plan procurement management
-Plan stakeholder engagement
Quality - Question and answersthe degree to which a set of inherent characteristics
fulfill requirements
Conformance to Requirements - Question and answersthe project's processes and
products meet written specifications
Fitness for Use - Question and answersa product can be used as it was intended
(Quality )Metric - Question and answersa standard of measurement
*allows organizations to measure their performance in certain areas & to compare them
over time or with other organizations
-ex. failure rates of a product
Project Organization Chart - Question and answersa graphical representation of how
authority & responsibility are distributed within a project
RACI Chart (pg. 199) - Question and answersa type of responsibility assignment matrix
showing the responsibility, accountability, consultation, informed of project stakeholders
Responsibility - Question and answerswho does the work
Accountability - Question and answerswho signs off on the work or has authority for it
Consultation - Question and answerswho has information necessary to complete the
work
Informed - Question and answerswho needs to be notified of work status/results
Staffing Management Plan - Question and answersdescribes when and how people will
be added to and removed from a project
-describes the number of and types of people needed to work on the project
, -describes how these resources will be acquired, trained, rewarded and reassigned
after their work on the project is completed
Team Charter - Question and answersa document created to help promote teamwork
and clarify team communications; guides how the team will function
Communications Management Plan - Question and answersa document that guides
project communications
-describes who will provide and receive data, when and how the information will be
presented
Stakeholder Engagement Plan - Question and answers-describes the idiosyncrasies of
each individual stakeholder used to guide the project team in effectively engaging
stakeholders to make sure good decisions are made throughout the life of the project
-includes sensitive information
-may include: current and desired engagement levels of key stakeholders, scope and
impact of change to stakeholders etc.
Risk Management Plan - Question and answers-documents the procedures for
managing risk throughout the life of the project
-outlines how risk management will be performed on a certain project
ex. contingency and fallback plans
Contingency Plans - Question and answers-predefined actions that the project team will
take if an identified risk event occurs
-If mold or asbestos is found when demoing a project, then the project team will issue a
stop work order and call the abatement company
Fallback Plans - Question and answers-developed for risks that have high impact on
meeting project objectives, and are put into effect if attempts to reduce the risk are not
effective
*contingency plans of last resort
Dimensions of Risk Events - Question and answers1. Probability of the risk event
occurring
2. Impact or consequence if the risk does occur
(high, medium, low)
Risk Probability/Impact Matrix (pg. 216) - Question and answers-a chart that depicts the
probability and impact of risk events
-project stakeholders identify and list the risk events related to their projects, label each
risk event (high, medium, low) in terms of probability of occurrence and level of impact,
PM summarizes the results in the matrix
*project teams should initially focus on risk events that fall in the high sections of the
matrix and develop strategies for minimizing negative risk events and maximizing
positive ones
