LOMA 335 CHAPTER 14 EXAM
QUESTIONS WITH COMPLETE
SOLUTIONS
noncritical path - Answer-A network path along which a delay would not necessarily
delay project completion. [14]
optimistic time - Answer-In activity analysis, the shortest time an activity is likely to
require. [14]
pessimistic time - Answer-In activity analysis, the longest time an activity is likely to
require. [14]
planning phase - Answer-The project lifecycle phase of preparing to undertake project
activities. [14]
project baselines - Answer-A collection of project performance standards for time,
scope, and cost. Also known as project performance management baselines. [14]
project budget - Answer-The projected operational results of the project in its entirety,
including standard costs and potentially standard times. [14]
project change - Answer-An acknowledged departure from a project's original project
plan. [14]
project charter - Answer-A document authorized by the project sponsor and formally
establishing the existence of a project. [14]
project constraint - Answer-A circumstance that places limitations on a project, and
traditionally includes scope, time and cost. [14]
project lifecycle - Answer-The combination of all project phases from project initiation to
project closure. [14]
project manager - Answer-the person accountable for fulfilling the functions of planning,
organizing, directing and controlling resources so as to achieve a project's established
goal or goals. [14]
project organization chart - Answer-A chart that records a project's lines of authority,
responsibility, accountability, and communication. [14]
, project phase - Answer-A segment of the project lifecycle consisting of a set of related
project activities. [14]
project plan - Answer-A formal, approved document used to guide a project through
execution. [14]
project portfolio management (PPM) approach - Answer-A project management
approach that consists of treating all company projects as a project portfolio and
coordinating all projects with one another. [14]
project schedule - Answer-A document that shows links between project elements;
notes dependencies; and shows a sequence that satisfies the project's goals and
constraints, including terminal elements with scheduled start dates and finish dates, as
well as planned dates for performing project activities and meeting project milestones.
[14]
project scope baseline - Answer-The formally authorized version of the combination of a
project's scope statement and work breakdown structure. [14]
project scope - Answer-The totality of results that a project will produce. [14
project sponsor - Answer-A company executive who authorizes the project, provides
supportive resources to the project, and communicates project information up the
organizational chain of command on behalf of the project. Also known as project
champion or executive sponsor. [14]
project stakeholder - Answer-An internal or external party who has an interest in a
project and expects to benefit from it. [14]
project status - Answer-A project's progress toward completion at a point in time. [14]
project team member - Answer-In project management, a person assigned to perform a
portion of project activities. [14]
project team - Answer-In project management, all people assembled for accomplishing
a project. [14]
project timeline - Answer-In project management, a graphical representation of a
chronological sequence of a project, typically providing only summary information, and
intended to provide an executive overview. Also known as chronology. [14]
schedule variance - Answer-The difference between the scheduled finish date for an
activity and the actual finish date. [14]
QUESTIONS WITH COMPLETE
SOLUTIONS
noncritical path - Answer-A network path along which a delay would not necessarily
delay project completion. [14]
optimistic time - Answer-In activity analysis, the shortest time an activity is likely to
require. [14]
pessimistic time - Answer-In activity analysis, the longest time an activity is likely to
require. [14]
planning phase - Answer-The project lifecycle phase of preparing to undertake project
activities. [14]
project baselines - Answer-A collection of project performance standards for time,
scope, and cost. Also known as project performance management baselines. [14]
project budget - Answer-The projected operational results of the project in its entirety,
including standard costs and potentially standard times. [14]
project change - Answer-An acknowledged departure from a project's original project
plan. [14]
project charter - Answer-A document authorized by the project sponsor and formally
establishing the existence of a project. [14]
project constraint - Answer-A circumstance that places limitations on a project, and
traditionally includes scope, time and cost. [14]
project lifecycle - Answer-The combination of all project phases from project initiation to
project closure. [14]
project manager - Answer-the person accountable for fulfilling the functions of planning,
organizing, directing and controlling resources so as to achieve a project's established
goal or goals. [14]
project organization chart - Answer-A chart that records a project's lines of authority,
responsibility, accountability, and communication. [14]
, project phase - Answer-A segment of the project lifecycle consisting of a set of related
project activities. [14]
project plan - Answer-A formal, approved document used to guide a project through
execution. [14]
project portfolio management (PPM) approach - Answer-A project management
approach that consists of treating all company projects as a project portfolio and
coordinating all projects with one another. [14]
project schedule - Answer-A document that shows links between project elements;
notes dependencies; and shows a sequence that satisfies the project's goals and
constraints, including terminal elements with scheduled start dates and finish dates, as
well as planned dates for performing project activities and meeting project milestones.
[14]
project scope baseline - Answer-The formally authorized version of the combination of a
project's scope statement and work breakdown structure. [14]
project scope - Answer-The totality of results that a project will produce. [14
project sponsor - Answer-A company executive who authorizes the project, provides
supportive resources to the project, and communicates project information up the
organizational chain of command on behalf of the project. Also known as project
champion or executive sponsor. [14]
project stakeholder - Answer-An internal or external party who has an interest in a
project and expects to benefit from it. [14]
project status - Answer-A project's progress toward completion at a point in time. [14]
project team member - Answer-In project management, a person assigned to perform a
portion of project activities. [14]
project team - Answer-In project management, all people assembled for accomplishing
a project. [14]
project timeline - Answer-In project management, a graphical representation of a
chronological sequence of a project, typically providing only summary information, and
intended to provide an executive overview. Also known as chronology. [14]
schedule variance - Answer-The difference between the scheduled finish date for an
activity and the actual finish date. [14]
