ITPM Exam Questions And Answers 1005 Solved 2024/2025

ITPM Exam Questions And Answers 1005 Solved 2024/2025 What is a business case, at which stage is it done, what elements does it include? - answerThe justification for doing the project What are the stages of Schedule development? - answerActivities from WBS Estimate durations Work out dependencies Develop network diagram Calculate duration, CP, float What is a project - answerUnique process. Coordinated with start and finish dates. It is done to achieve requirements within time, cost and resources. What is the difference between project and Business as usual - answer*Project Roles are assigned High risk Unique Temporary Brings change B-a-U Relies on people knowing roles Lower risk Repetitive Permanent Involves known procedures Does not involve change What is the project environment dependent on? - answer1. Internal settings (affects the project team) 2. External-to-project (sponsorship, budgets) 3. Industry settings (competitive factors in industry) 4. Macro-external (PESTLE) - National politics, economic factors. Who owns the business case - answerThe project sponsor Who creates the business case - answerSponsor, Project Manager, Customer What does the business case consist of? (Nilesh confirms we need to know them) - answer1. Description of potential project 2. The reason for it 3. A high level plan 4. Assumptions and Constraints 5. Success criteria 6. Alternatives and justification why this one 7. High level financial appraisal(assessment) What is a success criteria? - answerImplementation of scope within time & budget. It is the metric to evaluate against. For example, if we take our degree, we have to achieve something. if that is "Pass", this will be the success criteria which will be measured by calculating our average of grades. What are the success factors? - answerThe things we need to do to enable success. (e.g. In our degree: do research, attend classes, work hard). (e.g. In a group, we are required to follow success factors: Communicating with the rest & etc.) What are KPIs - answerKPI = Key Performance Indicators. These are things such as "Earned Value", "Staying on schedule". The results of these are our KPIs. It can be measured as we go along. For example, for our degree our average grade will be the Key Performance Indicator. What is scope? - answerWhat the project is going to do & what the project is NOT going to do.