devry MGMT404 quiz 4 may 2015

Question 1.1. (TCO 1) Which step of the project life cycle creates the project charter? (Points : 5)

Initiation

Planning

Monitoring and control

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Question 2.2. (TCO 1) The purpose of a project charter is to (Points : 5)

define the project.

allow for the creation of a WBS.

authorize the project.

define detailed project risks.

Question 3.3. (TCO 2) Which step of the project life cycle defines the project scope? (Points : 5)

Initiation

Planning

Execution

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Question 4.4. (TCO 2) Which statement is an example of a project deliverable? (Points : 5)

“If the parts arrive late, we will not finish on time.”

“We must get permits before we start work.”

“I believe the contracts will be signed by the 15th.”

“The paving of the parking is lot is major piece of work for this project.”

Question 5.5. (TCO 3) The critical path in a project describes which of the following? (Points : 5)

The path containing the most important pieces of work

The longest path in a project

The activities with the highest risk

The activities with the highest cost to the project

Question 6.6. (TCO 3) What values are calculated on the backward pass of a project network? (Points : 5)

Early start; late start

Early start; early finish

Late start; late finish

Early finish; late finish

Question 7.7. (TCO 5) In which process of risk management is the risk register initially created? (Points : 5)

Plan risk management

Identify risks

Control risks

Qualitative risk analysis

Question 8.8. (TCO 5) A risk matrix is used in _____ to _____. A risk register is a _____. (Points : 5)

qualitative risk analysis; prioritize risks; list of risks

quantitative risk analysis; identify risks; way to categorize risks

qualitative risk analysis; create risk strategies; way to monitor negative risks

risk identification; simulate project risks; way to categorize risks

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Question 1. 1. (TCO 1) Before one can begin writing a charter, one must consider the most appropriate organization for the project. You are the project manager for a company that integrates custom data solutions for large corporate enterprises. This project will span two or three years and will cost tens of millions of dollars. This is a large, very involved project. Which of the five organization structures is most suitable? Why? (Points : 20)

Question 2. 2. (TCO 2) You are a project manager for a new hardware/software project. You just received the project charter and established your scope statement. Within the scope statement, you defined some of the key components to meet the overall project objective. Establishing requirements will be critical to define and get approved. The hardware will be new for your company, so you will need to ensure the vendor is selected and the hardware is appropriately installed into your environment. The supporting software will need to be designed and coded. It will also need to be installed and tested on the system. To ensure the users know how to use the new software, training will be needed for managers and the associates. You have assembled your team of experts and they are anxious to get started.

Part 1: To ensure you have a clear scope for your team, create a 2-level WBS. Don’t forget to include your WBS numbering. (15 points)

Part 2: In your WBS, how many work packages have been created? (5 points) (Points : 20)

Question 3. 3. (TCO 3) Compare and contrast crashing and scope reduction as means of schedule reduction. (Points : 20)

Question 4. 4. (TCO 5) A firm hosts data-mining servers and performs data mining for other companies that do not desire the costs of hardware, software, or expertise to data mine their data. The firm is planning to roll out faster data-mining software that will reduce the time to sift through customers' data by a fraction of the present time.

Part 1: List and discuss the major risk management functions from a project management perspective for the data-mining software project. (15 points)

Part 2: Describe a positive and negative risk event, the consequences, and the risk-response plans for the data-mining software project. (15 points) (Points : 20)

Question 5. 5. (TCO 9) Compare and contrast how a scope is created in traditional project management versus one created in agile project management. (Points : 20)