Saturday, April 20, 2013
PMP - Project Cost Management
1) Which of the following isn't part of the cost management plan?
a. States how costs will be controlled.
b. Estimating units of measure and precision.
c. Reporting formats.
d. Cost reimbursement schedule.
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2) Which of the following is an input for estimating project cost?
a. Project funding requirements.
b. Basis of estimates.
c. Risk register.
d. Cost performance baseline.
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3) Which of the following process areas generate the input for estimating project cost?
a. Milestone list (output) from Define Activities (Process area) in Project time management (Knowledge area).
b. Project schedule (output) from Develop schedule (Process area) in Project time management (Knowledge area).
c. Risk management plan (output) from Plan risk management (Process area) in Project risk management (Knowledge area).
d. Project staff assignments (output) from Acquire project team (Process area) in Project human resource management (Knowledge area).
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4) Which of the following is an output from estimating project cost?
a. Cost performance baseline.
b. Basis of estimates.
c. Project funding requirements.
d. Work performance measurements.
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5) Which of the following outputs of estimating project cost is used as input in controlling project cost?
a. Activity cost estimates.
b. Basis of estimates.
c. Project document updates.
d. None of the above.
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6) Which of the following tools & techniques used for estimating project cost?
a. Reserve analysis.
b. Cost aggregation.
c. Funding limit reconciliation.
d. Variance analysis.
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7) Which of the following is an input to determine budget?
a. Human resource plan.
b. Resource calendars.
c. Project management plan.
d. Project funding requirements.
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8) Which of the following process areas generates an input to determine budget?
a. Project scope statement (output) from Define scope (Process area) in Project scope management (Knowledge area).
b. Requirements management plan (output) from Collect requirements (Process area) in Project scope management (Knowledge area).
c. Scope baseline (output) from Create WBS (Process area) in Project time management (Knowledge area).
d. Milestone list (output) from Define Activities (Process area) in Project time management (Knowledge area).
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9) Which of the following is an output of determine project budget?
a. Cost performance baseline.
b. Basis of estimates.
c. Activity cost estimates.
d. Work performance measurements.
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10) Which of the following tools & techniques is/are used by both estimating cost and determining budget?
a. Cost aggregation.
b. Expert judgment.
c. Funding limit reconciliation.
d. Variance analysis.
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11) Which of the following is an input to control project cost?
a. Scope baseline.
b. Human resource plan.
c. Resource calendars.
d. Work performance information.
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12) Which of the following process areas generate an input for controlling project cost?
a. Project scope document (output) from Define Scope (Process area) in Project scope management (Knowledge area).
b. Work performance measurements (output) from Control scope (Process area) in Project scope management (Knowledge area).
c. Risk management plan (output) from Plan risk management (Process area) in Project risk management (Knowledge area).
d. Cost performance baseline (output) from Determine project budget (Process area) in Project cost management (Knowledge area).
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13) Which of the following is not an output from controlling project cost?
a. Work performance measurements.
b. Change requests.
c. Project funding requirements.
d. Update to project management plan.
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14) Which of the following tools & techniques used in controlling project cost is also used for estimating project cost?
a. Earned value management.
b. Variance analysis.
c. Forecasting.
d. None of the above.
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15) Which of the following is not true about earned value management technique?
a. Is used to find out variances in projects based on the comparison of work performed against work planned.
b. Used to predict what will happen in future.
c. Used to indicate the deviation from schedule baseline, however cost deviation cannot be predictable.
d. Monetary measures is identified as schedule variances.
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16) Which of the following terms correctly described by - “The estimated value of the work actually accomplished”?
a. Planned value.
b. Earned value.
c. Cost variance.
d. Actual cost.
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17) All the items in the earned value management is measured in terms of………..?
a. Scope.
b. Schedule.
c. Cost.
d. B & C above.
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18) Which of the below is/are primary items in earned value management?
a. Scope.
b. Resources.
c. Project plan with duration.
d. All the above.
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19) Five houses have been planned to be built. Each house will cost 10K USD and 20 days to build. At the end of 70 days found 3 houses have been completed and cost incurred is 40K USD. What is the cost performance index using EVM technique?
a. 100%
b. 115%
c. 75%
d. 90%
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20) A house has been planned to be built in 12 days but took 15 days, also estimated 2 more days to be taken additionally. Each day costs 10K USD. As the project should had been already completed, howmuch the project is over schedule?
a. Over schedule by 8%
b. Over schedule by 12%
c. Over schedule by 16%
d. Over schedule by 20%
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21) A project has SPI as 80% and EV as 24 days, so what is schedule variation?
a. 6 days under schedule
b. 6 days over schedule
c. 3 days over schedule
d. 3 days under schedule
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22) Which of the below projects to be selected?
a. Project A with Opportunity Cost of $ 100,000
b. Project B with NPV of $100,000
c. Project C with Benefit-Cost Ratio of 0.90
d. Project D with IRR of -10%
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23) A project has EV is $1000, AC is $1300 and PV is $1200 so what is cost variation (CV)?
a. -$200
b. $200
c. -$300
d. $300
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24) A company will get investment $112,000 one year from now. The interest rate used in the company to calculate Present Value of expected yearly benefits and costs is 12%. What is the Present Value of this investment?
a. $112,000
b. $100,000
c. $96,000
d. $92,500
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Conclusions
1)
* Cost management plan consists of - Plan how costs will be controlled, Estimating units of pressure, estimating precision, permissible variance thresholds, earned value rules and reporting formats.
* Project cost management involves - estimating costs (developing an approximation of the monetary resources needed to complete project activities), determining budget (Establish an authorized cost baseline for assigning project cost), controlling cost (Monitoring and controlling the project budget and managing changes to the cost baseline).
It's clear now
2)
* The inputs required for estimating project cost are - Scope baseline (is an output of "create WBS" from "project scope management"), Project schedule (is an output of "develop schedule" from "project time management"), Human resource plan (is an output of "Develop human resource plan" from "Project human resource management"), Risk register (is an output of "Identify risk" from "Project risk management"), Enterprise environmental factors (the internal or external factors which might impact or influence the project's success) and Organizational process assets (Process related assets of any organization involved in the project can include - Formal/informal plans, policies, procedures, guidelines, lessions learned (historical information) etc).
It's clear now
3)
* The inputs required for estimating project cost are - Scope baseline (is an output of "create WBS" from "project scope management"), Project schedule (is an output of "develop schedule" from "project time management"), Human resource plan (is an output of "Develop human resource plan" from "Project human resource management"), Risk register (is an output of "Identify risk" from "Project risk management"), Enterprise environmental factors (the internal or external factors which might impact or influence the project's success) and Organizational process assets (Process related assets of any organization involved in the project can include - Formal/informal plans, policies, procedures, guidelines, lessions learned (historical information) etc).
It's clear now
4)
* The outputs developed from estimating project cost are - Activity cost estimates (is an input to "Determine budget" in "Project cost management"), Basis of estimates (is an input to "Determine budget" in "Project cost management") and Project document updates (Cost management plan initially updated in the project management plan and is keep getting updated).
It's clear now
5)
* The outputs developed from estimating project cost are - Activity cost estimates (is an input to "Determine budget" in "Project cost management"), Basis of estimates (is an input to "Determine budget" in "Project cost management") and Project document updates (Cost management plan initially updated in the project management plan and is keep getting updated).
* The inputs required for controlling project cost are - Project management plan (is an output of "Develop project management plan" from "Project integration management", Project funding requirements (is an output of "Determine budget" from "Project cost management"), Work performance information (from "Work performance measurements" using "variance analysis (Tools and technique)" from "Control scope" in "Project scope management" and Organizational process assets (Process related assets of any organization involved in the project can include - Formal/informal plans, policies, procedures, guidelines, lessions learned (historical information) etc).
It's clear now
6)
* The tools and techniques used in estimating project cost are - Expert judgement, Analogous estimating (like if 100 test cases take 1 week time then 99 test cases also would take the same time), Parametric estimating (like 2 resources take 2 days leave is equal to 1 takes 4 days), Bottom-up estimating (Roll-up the estimate from bottom), Three-point analysis (PERT analysis - calculating activity durations by drawing the project schedule network, analyze paths, finding critical paths and determine the length of durations), Reserve analysis, Cost of quality (Cost of conformance, salary etc + non conformance, defects fix etc.), Project management estimating software and Vendor bid analysis.
It's clear now
7)
* The inputs required to determine project budget are - Activity cost estimates (is an output of "Estimate cost" from "Project cost management"), Basis of estimates (is an output of "Estimate cost" from "Project cost management"), Scope baseline (is an output of "create WBS" from "Project scope management"), Project schedule (is an output of "develop schedule" from "Project time management"), Resource calendars (is an output of “Acquire project team” from “Project human resource management”, Contracts(from “Project procurement management”) and Organizational process assets (Process related assets of any organization involved in the project can include - Formal/informal plans, policies, procedures, guidelines, lessions learned (historical information) etc).
It's clear now
8)
* The inputs required for determine project budget are – Activity cost estimates (is an output of "Estimate costs" from "project cost management"), Basis of estimates (is an output of "Estimate costs" from "project cost management"), Scope baseline (is an output of "Create WBS" from "Project Scope management"), Project schedule (is an output of "Develop schedule" from "Project time management"), Resource calendars (is an output of “Acquire project team” from “Project human resource management”, Contracts (from “Project procurement management”) and Organizational process assets (Process related assets of any organization involved in the project can include - Formal/informal plans, policies, procedures, guidelines, lessions learned (historical information) etc).
It's clear now
9)
* The outputs developed from determine project budget are - Cost performance baseline (is an input to " Control costs" in "Project cost management"), Project funding requirements (is an input to "Control costs" in "Project cost management") and Project document updates (Cost management plan initially updated in the project management plan and is keep getting updated).
It's clear now
10)
* The tools and techniques used in estimating project cost are - Expert judgement, Analogous estimating (like if 100 test cases take 1 week time then 99 test cases also would take the same time), Parametric estimating (like 2 resources take 2 days leave is equal to 1 takes 4 days), Bottom-up estimating (Roll-up the estimate from bottom), Three-point analysis (PERT analysis - calculating activity durations by drawing the project schedule network, analyze paths, finding critical paths and determine the length of durations), Reserve analysis, Cost of quality (Cost of conformance, salary etc + non conformance, defects fix etc.), Project management estimating software and Vendor bid analysis.
* The tools and techniques used in determine project budget are – Cost aggregation, Reserve analysis, Expert judgment, Historical relationships and Funding limit reconciliation.
It's clear now
11)
* The inputs required for controlling project cost are – Project management plan (is an output of "Develop project management plan" from "Project integration management", Project funding requirements (is an output of "determine budget" from "project cost management"), Work performance information (from "Work performance measurements" using "variance analysis (Tools and technique)" from "Control scope" in "Project scope management" and Organizational process assets (Process related assets of any organization involved in the project can include - Formal/informal plans, policies, procedures, guidelines, lessions learned (historical information) etc).
It's clear now
12)
* The inputs required for controlling project cost are – Project management plan (is an output of "Develop project management plan" from "Project integration management", Project funding requirements (is an output of "determine budget" from "project cost management"), Work performance information (from "Work performance measurements" using "variance analysis (Tools and technique)" from "Control scope" in "Project scope management" and Organizational process assets (Process related assets of any organization involved in the project can include - Formal/informal plans, policies, procedures, guidelines, lessions learned (historical information) etc).
It's clear now
13)
* The output developed from controlling project cost are – Work performance measurements (is an input to "Perform quality control" in "Project quality management"), Budget forecasts (is an input to "Report performance" in "project communication management"), Change requests (“Approved change requests” is an input to "Perform quality control" in "Project quality management"), Project management plan updates (Cost management plan initially updated in the project management plan and is keep getting updated), Project document and Organizational process assets (Process related assets of any organization involved in the project can include - Formal/informal plans, policies, procedures, guidelines, lessions learned (historical information) etc).
It's clear now
14)
* The tools & techniques used in controlling project cost are – Earned value management, Forecasting, Performance reviews, Variance analysis, Project management software and to-complete performance index.
* The tools and techniques used in estimating project cost are - Expert judgement, Analogous estimating (like if 100 test cases take 1 week time then 99 test cases also would take the same time), Parametric estimating (like 2 resources take 2 days leave is equal to 1 takes 4 days), Bottom-up estimating (Roll-up the estimate from bottom), Three-point analysis (PERT analysis - calculating activity durations by drawing the project schedule network, analyze paths, finding critical paths and determine the length of durations), Reserve analysis, Cost of quality (Cost of conformance, salary etc + non conformance, defects fix etc.), Project management estimating software and Vendor bid analysis.
It's clear now
15)
* Earned value management is a systematic project management process is used to find variances in project based on the comparison of work performed against work planned.
* Used “work in progress” to predict what will happen in future.
* Result from analysis indicate the deviation from cost and schedule baseline of the project.
* Monetary measures interpreted to determining schedule variances.
It's clear now
16)
* Earned value management technique uses the following terms,
- Planned value, PV/BCWS (Budgeted cost of work scheduled), is the estimated value of the work planned to be done or valuation of planned work.
- Earned value, EV/BCWP (Budgeted cost of work performed), is the estimated value of the work actually accomplished or quantification of accomplished work.
- Actual cost, AC/ACWP (Actual cost of work performed), is the actual cost incurred for the work accomplished.
- Budget at completion, BAC, Budgeted for completion of project.
- Estimate at completion, EAC, Total project estimated to cost.
- Estimate to complete, ETC, More cost expected to complete the project.
- Variance at completion, VAC, The variance (over/under budget) is expected to be.
* Few formulas.
- Cost variance, CV, EV-AC, Positive value is good, under budget.
- Schedule variance, SV, EV-PV, Positive value is good, ahead of schedule.
- Cost performance index, CPI, EV/AC, >=1 is good, under budget.
- Schedule performance index, SPI, EV/PV, >=1 is good, ahead of schedule.
Estimate at completion, EAC:
- BAC/CPI, AC+ETC(new). Original estimate is not valid any more. Now Original + new estimate for remaining work.
- Also EAC can be calculated, AC+BAC-EV, Actual cost till now + new budget for remaining work. This can be used if past trends cannot be used in future.
- Also EAC can be calculated, AC+(BAC-EV)/CPI, Actual cost till now + new budget for remaining work modified by performance. This can be used if past trends continue in future.
- Estimate at completion, ETC, EAC-AC
- Variance at completion, VAC, BAC-EAC
It's clear now
17)
* Cost is the measurement term used for all the values in earned value management.
It's clear now
18)
* The primary items in EVM – Project plan with duration, scope and resources properly added.
It's clear now
19)
* BAC, Total cost to build 5 houses, 10K*5 = 50K USD.
* AC, Actual cost, 40K USD.
* PV, Planned value, after 70 days 3 houses + half of 4th house should have been completed (3.5 houses), 3.5*10K = 35K USD.
* EV, Earned value, actual accomplishment, 3*10K = 30K USD.
* SV, Schedule variance, EV-PV, 30K-35K = -5K USD. (Over schedule)
* CV, Cost variance, EV-AC, 30K-40K = -10K USD. (Over budget)
* SPI, Schedule performance index, EV/PV, 30K/35K = 85.7% (Over schedule)
* CPI, Cost performance index, EV/AC, 30K/40K = 75% (Over budget)
* EAC, Estimate at completion, BAC/CPI, 50K/0.75 = 66.67K USD
* VAC, Variance at completion, BAC-EAC, 50K-66.67K = 16.67K USD
* ETC, Estimate to completion, EAC-AC, 66.67K-40K = 16.67K USD
It's clear now
20)
* Daily cost, 10K USD.
* BAC, Total cost based to build house, 12*10K, 120K USD.
* AC, Total days taken already x Daily cost, 15*10K = 150K USD.
* PV, Total days planned x Daily cost, 12*10K = 120K USD.
* ETC, Total days additionally x Daily cost, 2*10K = 20K USD.
* EAC, AC+ETC, 150K+20K = 170K USD.
* VAC, BAC-EAC, 120K-170K = 50K USD.
* Planned completed%, PV/BAC, 120K/120K, 100%
* Actual completed%, AC/EAC, 150K/170K, 88.23%
* EV, BAC * Actual completed%, 120K*88.23% = 105.88K USD.
* SV, Schedule variance, EV-PV, 105.88K-120K = -14.12K USD. (Over schedule)
* CV, Cost variance, EV-AC, 105.88K-150K = -44.11K USD. (Over budget)
* SPI, Schedule performance index, EV/PV, 105.88K/120K = 88.24% (Over schedule)
* CPI, Cost performance index, EV/AC, 105.88K/150K = 70.59% (Over budget)
It's clear now
21)
SPI = 80%, EV = 24 days
PV = EV/SPI, 24/0.8 = 30 days SV = EV-PV
SV = 24-30, -6 days.
It's clear now
22)
* Opportunity cost cannot be a project selection criteria.
* Positive net profit value will profit the project and good to choose.
* Benefit-cost ratio < 100% is at loss. So should not be selected.
* Internal rate of return in negative indicates it’s in loss, so not preferable.
It's clear now
23)
EV = $1000, AC = $1300 and PV = $1200
CV = EV – AC, -$300.
It's clear now
24)
Justification: The interest rates used to calculate Present Value of expected yearly benefits and costs is - discount rate. PV = 112000/1.12 = 100000
It's clear now
Wednesday, April 17, 2013
PMP - Project Management Framework
1) Which of the following does't best describe a project?
a. An activity which has a beginning and an end undertaken to create a product.
b. An activity which has a beginning and an end undertaken to create a service.
c. A Group of activities which has a beginning and an end undertaken to create a product.
d. An activity is doing ongoing repetitive tasks or work.
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2) Which of the following is not true about portfolio management?
a. Collection of projects, programs and other works grouped together.
b. The projects or programs under a portfolio are inter related.
c. Portfolio management focuses on making sure the projects or programs are prioritized for resources.
d. Project portfolio uses various methods for analyzing and managing a group of current as well as proposed projects.
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3) Program management is centralized, coordinated management of projects to achieve the strategic goals and objectives. So managing projects together as a program is required always despite how value it. Is that true?
a. Yes.
b. No.
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4) Which of the following is not a function of PMO in supporting project managers?
a. Providing coaching on how to manage projects.
b. Identifying risks and develop risk management plan.
c. Develop and manage procedures, policies, templates and other documentation.
d. Auditing projects to ensure the project is meeting the quality standards.
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5) Which of the following is not a responsibilty of a project manager?
a. Resource planning.
b. Documentation.
c. Managing resources in the organization.
d. Performing integration.
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6) In which organizational structure the organization is grouped by areas of specialization within different functional areas?
a. Functional organization.
b. Projectized organization.
c. Only Functional Matrix organization.
d. All Matrix organizations.
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7) In which organizational structure project managers don't have control or might not be available?
a. Weak matrix organization.
b. Composite organization.
c. Balanced matrix orhanization.
d. Strong matrix organization.
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8) Which of the below an external environmental factor that might impact or influence a project's success?
a. Culture and structure of the performing organization.
b. Facilities, equipments and project management information systems of the organization.
c. Market conditions.
d. Higher management of the organization.
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9) Which of the below an organization process asset that might be involved in projects?
a. Formal or informal plans.
b. Policies, guidelines, templates.
c. Lessions learned.
d. All the above.
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10) Which of the below is a characteristic of project life cycle?
a. Phases within a project might be overlapping.
b. Phases may last for several years.
c. Phases are sequencial.
d. Each phase will occur only once.
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11) Which of the below is not a major step in product life cycle?
a. Product development.
b. Product growth.
c. Product maturity.
d. Product distribution.
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12) In a software organization that produces software products, what is the role of one who manages both the individual product releases and the coordination of multiple releases overtime?
a. Project manager.
b. Program manager.
c. Functional manager.
d. Portfolio manager.
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13) Which of the below is incorrect about the two project stakeholders - customer and sponsor?
a. Customer and sponsor are decide the risk tolerance.
b. Customer and sponsor may provide key events, milestones and deliverable due dates.
c. Customer and sponsor formally accepts the final product.
d. Customer and sponsor provide financial resources for the project.
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14) In an organization project managers share responsibility with functional managers for assigning and directing works to the members assigned to the project. Which of the following is not a responsibility of project manager?
a. Resource planning.
b. Cost planning, determing budget.
c. Performance appraisal of project members.
d. Defining tasks.
I need help
15) Which of the below statement about solving problems in project management is not correct?
a. Problem solving involves both problem definition and decision making.
b. Problems may be technical, managerial or interpersonal.
c. Problem solving is in the management of interpersonal skills.
d. Problems have to be solved as soon as identified.
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16) In which of the below organization a PM has responsiblity of coordindating tasks but the decisions ae made by management?
a. Projectized.
b. Functional.
c. Weak Matrix.
d. Strong Matrix.
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Conclusions
1)
* Project can be defined as an activity that has a beginning and an end undertaken to create a unique product, service or result.
* A project is also can be a group of activities that has a beginning and an end to create a unique product, service or result.
* A project will end despite it met its objectives or not met due to various reasons.
* An operation is defined as doing an ongoing repetitive tasks or work, wheareas project will create a unique product, service or result.
It's clear now
2)
* A portfolio is a collection of projects or programs also other works that are grouped together.
* A project portfolio uses various methods for analyzing and collectively managing a group of current and proposed projects based on many key characteristics.
* The projects or programs under a portfolio may or may not necessarily be interdependent or related each other.
* Portfolio management focuses on making sure the programs and projects are prioritized for resources to meet the objectives.
It's clear now
3)
* A program is managing projects together as a group to obtain greater benefits by minimizing risks, cost etc.
* A program must show a value in managing the projects together. If no value, it cannot be a program.
* Program mamagement is centralized and coordinated management to achieve its goals and objectives.
* Program management coordinates on prioritizing resources across projects to meet the objectives.
* Projects under a Program would use common reources.
It's clear now
4)
* PMO is an organization structure providing centralized coordinated management and support for projects in the organization.
* It helps providing coaching on how to manage projects, develop & manage stadard procedures.
* PMO help auditing projects to ensure meeting quality standards.
* PMO manage shared or common resources across projects.
* PMO is not accountable for any individual project management activities like identifying & handling risks.
It's clear now
5)
* Project manager is reponsible for overall accomplishment of the project.
* Performing integration is the key role of PM.
* Plan & define scope, resource planning, estimate time, developing a budget, managing risks & issues are also responsibilities of PM.
* Risk analysis, documentation, strategic influencing, scalability & portability analysis, activity planning & sequencing are also responsibilities of PM.
* Developing schedules, cost engineering, controlling quality, creating charts & schedules, benefits realization are also responsibilities of PM.
* Team leadership, customer liaison are also responsibilities of PM.
It's clear now
6)
* Functional organization structure is grouped by its different specialized areas. The scope of functional organization is usually limited to the boundries of the functional departments.
* Projectized organization is organized by projects wherein project managers have full authority over project teams.
* All matrix organizations organized into functional departments but projects are done by project teams having members from different functional departments.
It's clear now
7)
* In strong matrix Project manager has the authority whereas functional manager has authority in weak matrix. In balanced matrix the authority is shared between the functional and project manager.
* In functional organization functional managers have control wherein project resources report to their own functional managers.
* In composite organization functional managers have control wherein the project team is formed to do the work and disbanded when the work is over. Project managers have limited control. It's clear now
8)
* Whichever the factors from inside the project organization that might impact or influence the success of projects are internal environmental factors.
* External conditions like customer project stake holders, political environment, market conditionas etc. also might influence or impact the project's success.
It's clear now
9)
* Process related assets of any organization involved in the project can include - Formal/informal plans, policies, procedures, guidelines, lessions learned (historical information) etc.
It's clear now
10)
* In project life cycle, phases may be overlapping but not sequential whereas in product life cycle phases don't overlap but are sequential.
* Phases in project life cycle donot last more than 6 months whereas phases in product life cycle go for several years.
* Phases in project life cycle may be repeated during project, but in product life cycle donot repeat.
* Any project goes through a series of stages during its lifecycle regardless of scope or complexity.
It's clear now
11)
* The product life cycle usually consists of five major steps - Development, Introduction, Growth, Maturity & Finally and Decline.
* The product will be withdrawn from the market when it become obsolete.
It's clear now
12)
* A program is a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually.
* Programs may include elements of related work outside the scope of discrete projects.
It's clear now
13)
* Sponsor provides the financial resources (in cash or kind) for the project, not customer.
* The customer on the other hand uses the final product.
* The sponsor and customer both might set risk tolerance/threshold, provide key events, decide on deliverable dates.
It's clear now
14)
* Any organization structure in which the project manager shares responsibility with the functional managers for assigning priorities and for directing the work of persons assigned to the project is a matrix organization.
* In a matrix organization, Project Manager does not have authority on doing Performance Management, this task is done by the Functional Managers.
It's clear now
15)
* Decision making includes analyzing the problem to identify viable solutions, and then making a choice from among them.
* Decisions can be made or obtained from the customer, team or functional manager. Once decisions made that must be implemented.
* Decisions have a time element that the right decision may not be the best always if it is made too early or too late
It's clear now
16)
* In a Weak Matrix organization the PM plays role of a coordinator or expediter, decisions are primarily made by Management.
* Weak matrix organizations maintain many of the characteristics of a functional organization, and the project manager's role is more that of a coordinator or expediter than that of a manager.
It's clear now
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