Earned value is calculated by taking the percent complete
times the original budget.
Overhead costs and profit are typically included in the project baseline.
The major reasons for creating a baseline are to monitor and
report progress and to estimate cash flow.
An undesirable schedule variance indicates that the project is running behind
The key to managing scope creep is change management.
The rule of using subjective estimated percent complete in combination with hard, tangible monitoring points works well on long-duration activities that can be broken into short discrete work packages.
the steps in creating a control process that measure and evaluate project
1. Set the baseline plan
2. Measure the progress and performance
3. Compare plan against actual
4. Take action as indicated by the results
Conducting an earned value analysis requires three data elements. Identify the acronyms for each and describe what they are.
1. PV; budgeted cost of work scheduled
2. EV; budgeted cost of the work performed
3. AC; actual cost of the work performed.
In reviewing the budget report of a project, you notice that spending on the project is running about ten percent over plan. Is the project in trouble? Why or why not?
You don't know for sure. The project may be in trouble however the cost overrun could be due to the project being ahead of schedule. You would need to have an earned value analysis run before you could tell.
Typically, project progress reports are designed and communicated in written or oral form. Identify the common topic format for such progress reports.
1. progress since last report
2. current status of project
3. cumulative trends
4. problems and issues since last report
5. corrective action planned
A major tenant of the project audit is that:
a. All problems are identified
b. The outcome represents an independent, outside
view of the project
c. Only verifiable, non-judgmental, non-subjective data be
d. The identities of the audit team are kept secret
e. A minimum number of people know that the audit is being
B. The outcome represents an independent, outside view of the project
The traditional content model for a project audit presents
information from the _____ prospective.
D. Both A and B are correct
Which of the following is not one of the recommended
sections of the audit report?
D. Strategic objectives
Information on the project type, size, number of staff, and
technology level would be included in which section of the audit report?
A. Classification of project
Project mission and objectives, procedures and systems used,
and organization resources used typically appear in the _____ section of the
Highlighting positive successes and giving credit to the
project team for an outstanding contribution would typically appear in the
_____ section of the audit report.
c. Classification of project
d. Lessons learned
e. Strategic objectives
The section of the Audit report that new project teams are
likely to find most useful is the:
D. Lessons learned
. Corrective actions that should take place would typically
appear in the _____ section of the audit report.
The most common circumstance for project closure is:
schedule, or quality
d. Project termination due to technical difficulties
e. Perpetual projects that seem to go on and on before
A. Project completion after modification of costs, schedule, or quality
Which of the following activities do project managers
consider the most significant barrier to project success?
The typical mechanism for evaluation of teams is normally:
E. A survey completed by the team members
The project closure process includes all of the following
D. Conduct an audit
Project audits review why the project was selected and provide a reassessment of the project's role in the organization's priorities.
Project audits can be performed while a project is in process and after a project is completed.
Whether it is for an in-process audit or post-project audit, some project team members should be included in the audit evaluation.
The major goal of the audit report is to improve the way future projects are managed.
A project closure where the project is completed early with some parts of the project eliminated would be classified as project failure.
Nearly all studies of failed projects rank unclear project definition as a major barrier to project success.
A 360-degree performance evaluation includes feedback from peers, project managers, subordinates, and even customers.
Why are project audits important to an organization?
The project audit is an instrument for supporting continuous improvement and quality management. They identify what went wrong and what went right. They identify changes to improve the delivery of future projects.
Identify the five common parts to an audit report.
1.classification of project
2. analysis of information gathered
4. lessons learned
Identify the five major wrap-up activities involved in closing down a project.
1. getting delivery acceptance from the customer,
2. shutting down resources and releasing to new uses
3. reassigning project team members
4. closing accounts and seeing all bills are paid
5. Evaluating the project team, project team members, and the project manager.
What guidelines should a project manager follow in conducting performance reviews?
1. have the individual prepare a self-evaluation
2. compare with standards not other people
3. focus on specific behaviors rather than the
4. be consistent and fair with all team members
5. Treat the review as a point in an ongoing process.
If a construction company in Dallas builds a bridge in Houston, the project would be classified as
If the Lincoln Log Construction Co. (based in Chicago) built
an assembly plant for General Motors in Nigeria, the project would be classified as
If IBM built a computer system for Outback Barbie Inc.
(based in Australia) at their corporate headquarters in Sydney, the project
would be classified as
McDonald's is creating a multinational distribution system
for all of its foreign and domestic subsidiaries. The project manager is from
the corporate headquarters and he manages teams from each of the countries
involved. The project would be classified as
Which of the following is not one of the potential results
for the international project manager?
D. All of these are potential results
The major issues dealing with international project
management include all of the following except:
a. Selection and training of personnel for international
b. Foreign currency exchange rates
c. Location of international expansion
d. Environmental factors
e. Challenge of working in a foreign culture
B. Foreign currency exchange rates
. Concern about the local restrictions on toxic waste is
classified as which of the following environmental factors?
The growing presence of the Russian Mafia has discouraged
many foreign firms from setting up operations in the former Soviet Union. This
is an example of which of the following environmental factors?
As a response to the events of September 11, 2001, the moving of personnel, materials, and equipment across international borders has created border congestion with increased costs and time. This is an example of which of the following environmental factors?
An information systems specialist reported that his performance on a project in Northern Sweden declined due to sleep deprivation during the summer months in which there was 20 hours of daylight each day. This is an example of which of the following environmental factors?
Inflation rates, import quotas and tariffs, and education
level of the workforce are examples of which of the following environmental
Needs for a project could include telecommunications, transportation, power, and availability of technically skilled talent. This is an example of which of the following environmental factors?
Communications difficulties because of different languages, social standards, and religious views are examples of which of the following environmental factors?
Which of the following can help a project manager to digest, clarify, and understand the factors leading to the selection of a specific project?
E. Risk matrix
Culture is a concept that encompasses all of the following
D. Economic level
For most project managers, the biggest difference in managing an international project is operating in a national culture where projects are done differently, using different project management techniques and tools.
Americans tend to underestimate the importance that relationship building plays in conducting business in other countries.
Two of the biggest adjustments Americans typically have to make in working abroad is adapting to the general pace of life and the punctuality of people.
Mexicans tend to perceive Americans as being cold and that most Americans look down upon them.
Saudi Arabians can be difficult to negotiate with because they often ignore facts no matter how convincing they may be and they also tend to be quite secretive about their positions.
In dealing with the French, a lot of what get done is a result of going through administrative channels, which involves a lot of red tape and efforts to avoid sidestep this can be regarded as disrespect for legal and governmental institutions.
Many outsiders consider the Chinese system of guanxi to be like nepotism where decisions are made based on family ties instead of an objective assessment of ability.
Mexicans tend to be more cautious and want to spend more time discussing risks and potential problems that Americans might dismiss as improbable or irrelevant.
Saudis attach little importance to status and rank with the bypassing of legal channels and red tape a common occurrence.
and discuss three guidelines/cautions in working with Mexicans on projects.
1. tend to be passionate and emotional when arguing
2. meetings ratify what was agreed to in private
3. avoid direct confrontation or criticism
4. value managers who treat them in a friendly but dignified manner
5. titles are extremely important
Identify and discuss three guidelines/cautions in working with the French on projects.
1. they value punctuality
2. neatness and taste are very important
3. difficult to negotiate with as they ignore facts
4. work is an intellectual exercise
5. managers are experts
Identify and discuss three guidelines/cautions in working with Saudi Arabians on
1. never display feelings of superiority
2. heavy use of administrative channels
3. connections are important
4. patience is critical
5. important decisions are made in person
Identify and discuss three guidelines/cautions in working with Chinese on projects.
1. slow in formulating plan but good progress
2. reciprocity is important in negotiations
3. they are less animated and avoid open displays and physical contact
4. less significance on time
5. obligated to assist the disadvantaged
Identify and discuss three guidelines/cautions in working with Americans on projects.
1.influence of women professionals
2. no business gifts
3. friendly and open
when first meeting
4. Noncontact culture
5. results-oriented decision making
Which of the following is not one of the techniques to
insure that projects meet the needs of the organization?
The importance of the increase in project oversight to
today's project manager includes all of the following except:
a. Increase in expected profits from projects
b. Increased interest in supporting and helping the project
c. Impact on the environment in which the project will be
d. Impact on how the project manager's performance will be
e. The reporting of project progress to an
A. Increase in expected profits from projects
The centralized management of projects to ensure that the allocation of resources to projects is directed toward projects that contribute the greatest value to organization goals is known as:
A. Portfolio Project Management
Which of the following is responsible for the continued support of consistent application of selection criteria, standards, processes, training, and general assistance to project managers?
A. Project Office Management
Which of the following firms use project offices to
coordinate projects and to ensure best practices are being used to manage
E. All the above are correct
The in-depth review of individual projects at specific
phases in the project life cycle is known as:
C. Phase Gate Methodology
Research on project success and failure consistently points
to the major reason behind project failures being
a. Lack of tools to determine accurately the project's
b. Lack of organizational commitment to project management
c. Poor planning
d. Shortage of qualified project managers
e. All of these are major reasons
C. Poor planning
Career issues in the field of Project Management include:
E. All of these are career issues
Successful project management is essentially a
a. Trade off among the needs of team members and the demands
of top management
b. Balancing act between people and technology
c. Trade off among cost, time, and quality
d. Both A and C are correct
e. A, B, and C are all correct
E. A, B, and C are all correct
A successful career in project management would include all
of the following except:
B. All of these are important
Which of the following is an unlikely source of training to
improve project management skills?
B. All of these are potential sources
Project oversight can be defined as a set of principles and processes to guide and improve the management of projects.
Project oversight is typically achieved through an executive committee, oversight group, or a project office.
Project offices are known to result in positive benefits such as serving as a bridge between senior management and project managers.
Phase gate methodology was originally developed for the construction industry.
The decision points at each phase gate are known as "Go, Kill, Hold, or Recycle" decisions.
It is extremely rare that a project that is executing on
time, on budget, and meeting project goals will be "killed".
The Proposal phase answers the fundamental question: Is the project a good idea and does it solve a business problem or issue?
A key question to managing future projects is how to manage projects with loosely defined or unstable scopes accompanied by high levels of uncertainty.
Briefly describe what "Project Oversight" is and why it is important to Project Management.
Project oversight is a set of principles and processes to guide and improve the management of projects. It is important because of the profound paradigm shift that has occurred over the last few years.
The typical activities of project oversight cover two dimensions. Identify those two dimensions and give two examples of activities for each of those dimensions.
1. organization level Examples; project selection, portfolio management, improving project management, assessing the project management system maturity and using the Balance Score Card.
2. project level Examples; review project objectives, decide on issues raised by PM, and track and assist in resolving bottlenecks.
What is Portfolio Project Management?
It is the centralized management of projects to ensure that the allocation of resources to projects is directed toward projects that contribute the greatest value to organization goals.
What is the Project Office and what is its relationship to oversight?
It is the unit responsible for the continued support of consistent application of selection criteria, standards, processes, training, and general assistance to project managers, and continued improvement and use of best practices. The project office is used as the vehicle to support and manage oversight activities.
What is Phase Gate Methodology and what does it do?
It is the in-depth review of individual projects at specific phases in the project life cycle. These reviews cover assessments to continue or kill the project, reassess resource allocation, reassess prioritization, evaluate execution progress, and strategic alignment decisions