C722- Project Management, WGU C722 (Pre), WGU C722 Project Management Terminology, WGU C722 Project Management Terminology, WGU C722 Equations

C722- Project Management, WGU C722 (Pre), WGU C722 Project Management Terminology, WGU C722 Project Management Terminology, WGU C722 Equations A firm begins its strategic business initiative of developing a new business model that will allow the firm to deliver an efficient, tailored service to its customers. To accomplish this, the firm initiates a business management project. Which aspect of project management applies to this firm's project? Interdependent Tasks A firm begins its strategic business initiative of developing a new business model to enhance its competitiveness. What can be identified as a strategic business initiative for this firm? Improvement in product design A firm begins a strategic business initiative of developing a new business model that will allow the firm to deliver an efficient, tailored service to its customers. Project sponsor Which group is included in the five process groups? Closing process group What does PRINCE2 stand for? PRojects IN a Controlled Environment Which PMBOK process group is described as the delivery part of project management where the main activity happens? Executing Which advantage does the functional (departmentalized) organizational structure provide for a firm with multiple projects? Lines of authority are clear. Which two organizations are examples of organizations with the functional organizational structure? (1) The U.S. Department of State and (2) The U.S Department of Energy An organization expects to use a project management office (PMO) to support multiple projects that will be implemented within a projectized organizational structure. Which implied effect is a benefit to this organization? Project team members gain access to historical data from other projects. Regardless of the organizational structure used to manage a project, an organization elects to use a project management office (PMO). Which benefit will this organization gain? Projects will coordinate resource usage by monitoring the status of shared resources. During a certain project phase, specific blueprints are drawn and approved, materials and labor costs are estimated, prototypes are created, and work activities and tasks are identified. Also, quality expectations, measurements, and costs are defined. During which project phase do these activities occur? Planning Place the project activities in order of occurrence from first (1) to last (5). (1) Collecting customer requirements (2) Developing the work breakdown structure (3) Working to produce project deliverables (4) Customers evaluating the project outcomes (5) Capturing lessons learned During which life cycle phase is the vast majority of the actual work to produce the project's deliverables completed? Executing What is the correct term for an intermediate outcome of project work, such as a signed contract or obtaining a construction permit? Deliverable Which deliverable from a work breakdown structure (WBS) is not specific enough to measure its completion at project closure? User training The following table shows the Level 1 work breakdown structure (WBS) for Project A. WBS ID Description 0.0 Project A 1.0 Project started 2.0 Feasiblity 3.0 Design 4.0 Development 5.0 Manufacturing 6.0 Distribution 7.0 Project completed Which approach did the project manager use to structure the WBS? Sequence of project phases For the following collapsed work breakdown structure (WBS) for Project O, the project manager must complete the scope baseline. In addition to the WBS, the scope baseline will contain two additional documents. WBS ID Description 0.0 Project O 1.0 Project started 2.0 Feasibility 3.0 Design 4.0 Development 5.0 Manufacturing 6.0 Distribution 7.0 Project completed What are the other two documents that belong in the scope baseline? WBS dictionary and project scope statement For the following collapsed work breakdown structure (WBS) for Project O, the project's steering committee held a phase gate review of the Feasibility results. That review determined that the project's proposed design would be obsolete before it would reach the marketplace. WBS ID Description 0.0 Project O 1.0 Project started 2.0 Feasibility 3.0 Design 4.0 Development 5.0 Manufacturing 6.0 Distribution 7.0 Project completed Which action should the project manager initiate? Terminating the project as soon as possible and releasing the project's resources A project is an operational necessity to repair a design flaw in the date field that constrains the year number to two digits, instead of permitting the year to be indicated with four digits. If the project is not completed before December 31, 1999, many legacy programs are expected to fail or produce unpredictable outcomes. The marketing department wants to upgrade its existing computer equipment and have the costs included in the budget for this project. The project team implemented the marketing department's request without completing the formal change control procedures. What has happened to the scope baseline in this scenario? Scope creep has caused a scope variance. A general contractor is managing a highway construction project that will repair a flood-damaged road. The project was documented in a cost-plus-incentive fee contract that specified a completion date of June 30. The Department of Transportation has offered an incentive for early completion of the repairs. Which triple-constraint baseline remains unchanged by the effects of the incentive? Scope In Project A, the contract specifies that time is very important. All of the scope must be completed, or the project will fail. The project's objective requires the project team to work as quickly as possible. Which triple constraint can be adjusted to permit the project team to work as quickly as possible? Cost In Project B, all of the scope must be completed, or the project will fail. The work is important but not urgent. Which triple constraint can be adjusted if the project's objective requires the project team to work at the lowest possible cost? Time A project manager is discussing the latest financial reports of a project to construct a grocery store and is approximately 90% into the planning phase. The