C722 Project Management - Study
Guide Questions with Accurate
Answers
0/100 Rule correct answer Assign 0% to projects that are not started or
in progress, and 100% to completed projects.
50/50 Rule correct answer Assigning 50% complete as soon as an
activity is started; assigns 100% upon completion. Every activity is
either 0, 50, or 100
8/80 rule correct answer Limits on sizes of assignments:
Do not assign anything that takes less than 8 hours to avoid
micromanaging and ensure we give sufficient work out. Do not assign
anything that takes more than 80 hours to complete, or if you must,
check in every 80 hours.
Acceptance correct answer Just deal with it. OK when risk is low, or
impact is low, and accepting is cheaper than avoiding.
Acceptance correct answer Welcome opportunity & use benefits to our
advantage.
Activity correct answer A portion of work that will be executed as part
of the project.
,Actual Cost correct answer Total dollar value of costs to date.
Ad Hoc correct answer Level 1 - ""Ad Hoc"" - No formal standards,
processes, procedures or resources, technologies and reporting
methodologies are sporadic
Adjourning correct answer Occurs when team's work is complete. Can
occur at any time during a project life cycle.
Advantages of Checklist Scoring Model correct answer Operational
impact has been built in.
Strategic impact has been integrated
After Action Review correct answer What the military calls lessons
learned.
Agile Methods correct answer Developed for projects where end is not
clearly defined in advance. Software, new product development.
Iterative approach. Team delivers project to customer in usable chunks.
Sprint - Short bursts of activity. Team stays in focus and in
communication with customer.
,Customer functionality requirements are called backlog, updated with
user stories and scored by team members.
Retrospective - Discussion after a sprint to evaluate what you'll change
for next time.
Apportion Method correct answer Based on ratio method but considers
specific functionality or work required. Work allocated by % to major
work areas.
Aspects of project management correct answer Stakeholder Relations
Managing Interdependent Tasks
Managing Volatility
Communications
Schedule Development
Work Breakdown
PERT charts
Risk Management
Avoidance correct answer Should be your first choice
Do something else so there's no risk
, AXELOS correct answer A joint venture between HM Cabinet Office and
Capita plc that developed PRINCE2
Backward Pass correct answer Start with target end date and work
backward to see latest date you can start and still finish on time.
Baseline Budget correct answer A snapshot of the project budget taken
as planning process is complete.
Used to compare actual costs to planned costs so adjustments can be
made as project progresses.
Beta Distribution correct answer A weighted average that emphasizes
the most likely distribution.
Developed as part of the Project Evaluation and Review Technique
(PERT)
Puts more weight on most likely outcome.
Bottom-up Estimation correct answer Estimates made at the detailed
work activity level of the Work Breakdown Schedule. Generated by
functional experts with knowledge of resources required and available
to complete activity. Developed during planning phase, when
knowledge is greater.
Guide Questions with Accurate
Answers
0/100 Rule correct answer Assign 0% to projects that are not started or
in progress, and 100% to completed projects.
50/50 Rule correct answer Assigning 50% complete as soon as an
activity is started; assigns 100% upon completion. Every activity is
either 0, 50, or 100
8/80 rule correct answer Limits on sizes of assignments:
Do not assign anything that takes less than 8 hours to avoid
micromanaging and ensure we give sufficient work out. Do not assign
anything that takes more than 80 hours to complete, or if you must,
check in every 80 hours.
Acceptance correct answer Just deal with it. OK when risk is low, or
impact is low, and accepting is cheaper than avoiding.
Acceptance correct answer Welcome opportunity & use benefits to our
advantage.
Activity correct answer A portion of work that will be executed as part
of the project.
,Actual Cost correct answer Total dollar value of costs to date.
Ad Hoc correct answer Level 1 - ""Ad Hoc"" - No formal standards,
processes, procedures or resources, technologies and reporting
methodologies are sporadic
Adjourning correct answer Occurs when team's work is complete. Can
occur at any time during a project life cycle.
Advantages of Checklist Scoring Model correct answer Operational
impact has been built in.
Strategic impact has been integrated
After Action Review correct answer What the military calls lessons
learned.
Agile Methods correct answer Developed for projects where end is not
clearly defined in advance. Software, new product development.
Iterative approach. Team delivers project to customer in usable chunks.
Sprint - Short bursts of activity. Team stays in focus and in
communication with customer.
,Customer functionality requirements are called backlog, updated with
user stories and scored by team members.
Retrospective - Discussion after a sprint to evaluate what you'll change
for next time.
Apportion Method correct answer Based on ratio method but considers
specific functionality or work required. Work allocated by % to major
work areas.
Aspects of project management correct answer Stakeholder Relations
Managing Interdependent Tasks
Managing Volatility
Communications
Schedule Development
Work Breakdown
PERT charts
Risk Management
Avoidance correct answer Should be your first choice
Do something else so there's no risk
, AXELOS correct answer A joint venture between HM Cabinet Office and
Capita plc that developed PRINCE2
Backward Pass correct answer Start with target end date and work
backward to see latest date you can start and still finish on time.
Baseline Budget correct answer A snapshot of the project budget taken
as planning process is complete.
Used to compare actual costs to planned costs so adjustments can be
made as project progresses.
Beta Distribution correct answer A weighted average that emphasizes
the most likely distribution.
Developed as part of the Project Evaluation and Review Technique
(PERT)
Puts more weight on most likely outcome.
Bottom-up Estimation correct answer Estimates made at the detailed
work activity level of the Work Breakdown Schedule. Generated by
functional experts with knowledge of resources required and available
to complete activity. Developed during planning phase, when
knowledge is greater.
