You should practice answering each question under 60 seconds. New dependencies can arise. Ex. Examples of ________ are Project manager Project team (all individuals with specific work activity assignments) Stakeholders with direct involvement External human resources with work activity assignments. program. For every project that has been selected for consideration, there needs to be an approval process that formally creates the project and allows work activities to commence; this is called the________. This can also include milestones for periodic inspections or customer approval. D. Consume resources. 2. The _________ is created as an output of the charter process; it contains other stakeholder information such as needs and requirements of information and communication, specific involvement with the project and management strategy of involvement, and details and management of stakeholder expectations. Depending on the information and communication structure of a project, some change requests may be informally introduced; because they are not controlled, they result in extra work activity that may or may not be approved. What are five characteristics which help differentiate projects from other functions carried out in the daily operations of the organization? Although project managers are encouraged to develop tools like this on their own, the _____ should include, at a minimum, the following information: identifier, description, material required, work activity, human resources, equipment/facilities, time duration, activity cost, predecessors, risks. 1. Supporting WM, PP and MM day-to-day issues and change requests. Type of business and market position Senior management experience, personality, and management style Hierarchical command structure Maturity in customer and supplier relationships High-level investment strategies and risk tolerance Senior management's perception of lower-level workforces Organizational approach to customer service General working conditions and environment within the organization. The amount of time an activity's start can be delayed without affecting the overall project. Quiz is loading Quality Management for Business Excellence Lead Quality Management in the Organization to Transform the Organization get this COURSE Mastering the Seven Basic Quality Improvement Tools a method for software development that uses new approaches, focusing on close collaboration between programming teams and business experts. Questions: 38 | Attempts: 15684 | Last updated: Mar 22, 2022 was originally developed by DuPont Inc. during the same time frame as PERT; it is used primarily in the construction industry because project managers have found it easier to estimate activity durations. The latest point uncompleted work can finish on an individual work package activity. Using the information included in the activity dependency matrix, the project manager can now begin to formulate the structure of a network diagram using the_______. $$. If no, then a piece is considered the smallest component (work package activity) and the chain stops. Project managers play a key . Estimate of total cost to complete activity. Support and maintenance C. Evolution D. Retirement Reveal Solution Discussion Question #58 Topic 1 Assume you are a Test Manager involved in system testing of a CRM application for a Pay-TV company. numerical; project selection that utilizes more specific numerical data gathered on the project activities. Approximately what percentage of the world's gross domestic product is spent on projects? 100% Off Coupons; What are some of the key environmental forces that have changed the way projects are managed? ____ typically have a combination of routinely produced deliverables as well as unique and specialized projects. Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to hundreds of hospitals. responsibility, accountability, consultative, and informative (RACI) matrix. \text{Electronic order processing (Number of electronic orders)} & \text{200.000} & \text{12.500 orders}\\ PMI-ACP: Agile Certified Project Management 200 Questions. The next step in organizing human resources with direct involvement responsibilities is to create a general category describing what functions human resources play on a project. $$ Any material that needs to be purchased for this activity. Human resources required to perform the activity. Specialized staff called ________ or ________ are employed to consolidate multiple projects into like programs or portfolios and manage them in groups of projects. What has been the effect of these forces on the management of projects? The merge activity is not able to begin until all dependent activities reporting to it are completed. What does this mean? The main traits of a project: A. A group of projects managed in a coordinated way to obtain benefits and control not available from managing them individually. Leading warehousing project for 1 of the . For example, if a hospital buys supplies from Worley that had cost Worley $100 to buy from manufacturers, Worley would charge the hospital$105 to purchase these supplies. \ It is a act of granting approval to an organization by an official review board, after the organization has met specific written requirements or standards. Initiating, planning, monitoring and controlling and closing. A person who provides leadership and direction for the project managers heading the projects within the program. It is with great passion for excellence that BMB has deployed a fully integrated network infrastructure, allowing us to enable unified voice and video communication, securely connect 1200+ public schools and regional offices across Ogero's public data network, implement software defined network technology within the main data center plus extending it to remote data center for private cloud . John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Information Technology Project Management: Providing Measurable Organizational Value, Operations Management: Sustainability and Supply Chain Management. Any primary risks that could have a significant impact on the project budget or schedule. The featured exercises and quizzes will facilitate your vocabulary and process concepts. What is the most significant characteristic or attribute of an effective project manager? Five basic elements of project selection models. Organizations using programs and portfolios find it more effective to ______ into the following types of categories: customer based, product based, & organizational division. \text{Number of deliveries} & \text{10} & \text{25}\\ test bank project management: achieving competitive advantage, 4e (pinto) chapter project selection and portfolio management project screening criterion that DismissTry Ask an Expert Ask an Expert Sign inRegister Sign inRegister Home Ask an ExpertNew My Library Courses You don't have any courses yet. defines four primary functions the project manager will carry out in the project life cycle: Develop a master schedule of project activities Develop a proposed project budget Monitor and report the status of project activities Implement controls to ensure project activities stay on schedule and budget Profit centers Any project work activities that have to be completed before this activity can begin. The selection model should require a review of the organization's capabilities, level of technology, and general fit in the current business portfolios of projects. Work cannot begin on the successor activities until all work on the burst activity has been completed. Categories. Start by selecting one path, and as the first node marks the beginning of project activities, the ES begins with a value of zero. Many organizations find duplicate or unneeded projects after they perform which step in project portfolio management? Planning and organizing Question 3) As a project manager on a product team, your stakeholders ask you to help the marketing team come up with a strategy to attract customers. Because risk contingencies can mean the allocation of financial resources for the purchase of items, a new direction for a work activity, or the possible rescheduling of human resources, authorization for these types of actions should be issued only to individuals who have had a detailed briefing from the project manager on specific risk events and corresponding contingency plans. The rate used in discounting future cash flows. If customers submit documents with specific definitions of product or service deliverables, they can be a great resource of very detailed information that can be used in requirements collection. Connections between activities use arrows to identify predecessor and successor relationships. descriptive; grading that is used when little or no actual numerical values have been gathered on project details and decisions have to be made based on more subjective general descriptions. Write clean and elegant code using React and Java 2. Greetings!! -Governance signals to the project manager that decisions at a higher level can impact the management of an individual project. The network diagram typically flows starting at the left and moving toward the right. An optimal way recognized by industry to achieve a stated goal or objective. A. These structures are called ___, ___, & ___. The amount of time it will take to recoup, in the form of net cash inflows, the total dollars invested in a project. A multiplier for each year based on the discount rate and year. completion of all courses required for a business major is an example of what? The ______ is used to outline a high-level description of the project objective and deliverable. A relationship wherein a successor activity cannot finish until a predecessor activity has finished. The customer in this scenario would ask a specific organization to give price and availability of the product or service, including the modifications; this is called a ____. Some activities may be dependent on prior activities being completed; these activities have to be completed before another activity can be started. Roles of project manager are answer choices Create a project team and organization where none existed before Must decide what and how things should be done instead of simply managing set processes Must meet the challenges of each phase of the project life cycle, and even oversee the dissolution of their operation when the project is completed If an organization produces a more specific type product and customers require several unique variations of the product based on their application, the organization groups these unique product projects into a program for specific customers. _________ can include special conditions from the customer, availability of suppliers for critical items required, special contracted services, and governmental regulatory conditions that have to be met. Take ownership and handle . 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