ITPM final exam flash cards UPDATED
Study Guide QUESTIONS AND CORRET
ANSWSER
What are the three elements of the "Triple Constraint"? - CORRECT
ANSWERS Scope, Time, and Cost.
Definition of a job - CORRECT ANSWERS A job is a repetitive, well-
defined task with little uncertainty.
Definition of a project (PMBOK) - CORRECT ANSWERS A project is a
temporary endeavor undertaken to create a unique product, service, or result.
List five key characteristics of a project. - CORRECT ANSWERS Non-
routine, planned, aims at a specific target, constrained by time and resources, is
large and/or complex.
What does SMART stand for in the context of project objectives? - CORRECT
ANSWERS Specific, Measurable, Achievable, Relevant, Time-
constrained.
What is the role of a Project Authority or Steering Committee? - CORRECT
ANSWERS They set the project scope, allocate/approve costs, and
define what constitutes project success.
What are the three common ways to define project success? - CORRECT
ANSWERS 1. Met scope, time, and cost goals. 2. Satisfied the
customer/sponsor. 3. The results met the main business objective (e.g., ROI,
making money).
,What are the eight key activities involved in 'Management'? POSDMCIR -
CORRECT ANSWERS Planning, Organizing, Staffing, Directing,
Monitoring, Controlling, Innovating, Representing.
In management control, what is the difference between 'Data' and 'Information'?
- CORRECT ANSWERS Data is the raw details (e.g., '5,000 premises
passed by fibre'). Information is processed data that is meaningful and useful
(e.g., 'productivity is 100 premises per day').
Why is project management particularly important for IT projects? - CORRECT
ANSWERS Because large amounts of money are spent on IT, and a high
percentage of IT projects historically fail (are late, over budget, or don't meet
goals), often due to poor project management.
What is the main purpose of Project Integration Management? - CORRECT
ANSWERS To coordinate knowledge areas throughout a project's life
cycle and to ensure that the project's elements are properly integrated.
What are the six main processes of Project Integration Management? DDDMPC
- CORRECT ANSWERS 1. Develop Project Charter
2. Develop Project Management Plan
3. Direct and Manage Project Work
4. Monitoring and controlling project work
5. Perform Integrated Change Control
6. Close Project or Phase.
What is a Project Charter and why is it important? - CORRECT ANSWERS
A document that formally authorises the existence of a project and
provides the project manager with the authority to apply resources to project
activities. It's a key output of the initiation process.
, What does a SWOT analysis stand for and what is its purpose? - CORRECT
ANSWERS Strengths, Weaknesses, Opportunities, Threats. Its purpose is
to help identify potential projects during strategic planning.
What are the four stages of the IT planning process for project selection? -
CORRECT ANSWERS 1. IT Strategy Planning
2. Business Area Analysis
3. Project Planning
4. Resource Allocation.
What is Net Present Value (NPV) and how is it used in project selection? -
CORRECT ANSWERS The expected net monetary gain or loss from a
project by discounting all expected future cash flows to the present. Projects
with a positive NPV are considered financially favourable.
NPV=∑ A_t/(1+r)^t
t = year
A = cash flow of year
r = discount rate
What is the formula for calculating Return on Investment (ROI)? - CORRECT
ANSWERS ROI = (Total Discounted Benefits - Total Discounted Costs)
/ Total Discounted Costs.
What is a Weighted Scoring Model used for? - CORRECT ANSWERS It
provides a systematic process for selecting projects based on multiple, weighted
criteria (e.g., supports business objectives, strong sponsor, positive NPV, low
risk).
What is the primary purpose of the Direct and Manage Project Work process? -
CORRECT ANSWERS To lead and perform the work defined in the
Study Guide QUESTIONS AND CORRET
ANSWSER
What are the three elements of the "Triple Constraint"? - CORRECT
ANSWERS Scope, Time, and Cost.
Definition of a job - CORRECT ANSWERS A job is a repetitive, well-
defined task with little uncertainty.
Definition of a project (PMBOK) - CORRECT ANSWERS A project is a
temporary endeavor undertaken to create a unique product, service, or result.
List five key characteristics of a project. - CORRECT ANSWERS Non-
routine, planned, aims at a specific target, constrained by time and resources, is
large and/or complex.
What does SMART stand for in the context of project objectives? - CORRECT
ANSWERS Specific, Measurable, Achievable, Relevant, Time-
constrained.
What is the role of a Project Authority or Steering Committee? - CORRECT
ANSWERS They set the project scope, allocate/approve costs, and
define what constitutes project success.
What are the three common ways to define project success? - CORRECT
ANSWERS 1. Met scope, time, and cost goals. 2. Satisfied the
customer/sponsor. 3. The results met the main business objective (e.g., ROI,
making money).
,What are the eight key activities involved in 'Management'? POSDMCIR -
CORRECT ANSWERS Planning, Organizing, Staffing, Directing,
Monitoring, Controlling, Innovating, Representing.
In management control, what is the difference between 'Data' and 'Information'?
- CORRECT ANSWERS Data is the raw details (e.g., '5,000 premises
passed by fibre'). Information is processed data that is meaningful and useful
(e.g., 'productivity is 100 premises per day').
Why is project management particularly important for IT projects? - CORRECT
ANSWERS Because large amounts of money are spent on IT, and a high
percentage of IT projects historically fail (are late, over budget, or don't meet
goals), often due to poor project management.
What is the main purpose of Project Integration Management? - CORRECT
ANSWERS To coordinate knowledge areas throughout a project's life
cycle and to ensure that the project's elements are properly integrated.
What are the six main processes of Project Integration Management? DDDMPC
- CORRECT ANSWERS 1. Develop Project Charter
2. Develop Project Management Plan
3. Direct and Manage Project Work
4. Monitoring and controlling project work
5. Perform Integrated Change Control
6. Close Project or Phase.
What is a Project Charter and why is it important? - CORRECT ANSWERS
A document that formally authorises the existence of a project and
provides the project manager with the authority to apply resources to project
activities. It's a key output of the initiation process.
, What does a SWOT analysis stand for and what is its purpose? - CORRECT
ANSWERS Strengths, Weaknesses, Opportunities, Threats. Its purpose is
to help identify potential projects during strategic planning.
What are the four stages of the IT planning process for project selection? -
CORRECT ANSWERS 1. IT Strategy Planning
2. Business Area Analysis
3. Project Planning
4. Resource Allocation.
What is Net Present Value (NPV) and how is it used in project selection? -
CORRECT ANSWERS The expected net monetary gain or loss from a
project by discounting all expected future cash flows to the present. Projects
with a positive NPV are considered financially favourable.
NPV=∑ A_t/(1+r)^t
t = year
A = cash flow of year
r = discount rate
What is the formula for calculating Return on Investment (ROI)? - CORRECT
ANSWERS ROI = (Total Discounted Benefits - Total Discounted Costs)
/ Total Discounted Costs.
What is a Weighted Scoring Model used for? - CORRECT ANSWERS It
provides a systematic process for selecting projects based on multiple, weighted
criteria (e.g., supports business objectives, strong sponsor, positive NPV, low
risk).
What is the primary purpose of the Direct and Manage Project Work process? -
CORRECT ANSWERS To lead and perform the work defined in the
