CTCM – Questions With Fully Explained Solutions
Buyer Correct Answer - The acquirer of products, services or results for
an organization
Seller Correct Answer - A provider or supplier of products, services or
results to an organization
Project Management Correct Answer - The discipline of defining and
achieving specific goals and objectives for temporary and unique efforts by
effectively managing and controlling technical performance (scope), cost &
schedule
Project Management Process Groups Correct Answer - Initiating
Planning
Executing
Monitoring & controlling
Closing
Major reasons why projects fail Correct Answer - - Managerial support
diminishes with a lack of organizational commitment
- Addressing the wrong requirements
- Lack of performance of the triple constraint (scope, cost & schedule)
- Communication breakdowns
SOW Correct Answer - Statement/Scope of Work
Scope planning Correct Answer - The way you describe the boundaries
of a project by defining what the project will - and will not - deliver
Estimating Correct Answer - Using the educated opinion for the effort or
cost of a project (or portions of a project) based on historical information or
expert judgement
Costing Correct Answer - The conversion of the effort estimates into
currency by considering expected inflation, overhead and administrative costs
throughout the project life cycle
, Pricing Correct Answer - A vendor function and is a strategic decision
made by management that includes the costs associated with producing a
product or providing a service plus a profit margin
Managing risks Correct Answer - - Avoidance
- Transference
- Mitigation
- Acceptance
Teamwork Correct Answer - Two or more people efficiently working
together to achieve a common goal
Stages of team development Correct Answer - Forming
Storming
Norming
Performing
Motivation Correct Answer - Maslow - Hierarchy of needs
Vroom - Expectancy Theory
McClelland - Achievement Motivation Theory
McGregor - Theory X & Theory Y
Herzberg - Two Factor Theory
Triple constraint Correct Answer - Scope, cost (budget) & schedule
Earned Value Metrics Correct Answer - Planned Value
Earned Value
Actual Cost
Budget at Completion
Estimate at Completion
Estimate to Completion
Scope creep Correct Answer - The uncontrolled expansion to product,
service or project without addition to schedule, cost or resources
Project closure processes Correct Answer - Contract & administrative
Contract Management Correct Answer - The entire contracting process
from planning through contract administration
Buyer Correct Answer - The acquirer of products, services or results for
an organization
Seller Correct Answer - A provider or supplier of products, services or
results to an organization
Project Management Correct Answer - The discipline of defining and
achieving specific goals and objectives for temporary and unique efforts by
effectively managing and controlling technical performance (scope), cost &
schedule
Project Management Process Groups Correct Answer - Initiating
Planning
Executing
Monitoring & controlling
Closing
Major reasons why projects fail Correct Answer - - Managerial support
diminishes with a lack of organizational commitment
- Addressing the wrong requirements
- Lack of performance of the triple constraint (scope, cost & schedule)
- Communication breakdowns
SOW Correct Answer - Statement/Scope of Work
Scope planning Correct Answer - The way you describe the boundaries
of a project by defining what the project will - and will not - deliver
Estimating Correct Answer - Using the educated opinion for the effort or
cost of a project (or portions of a project) based on historical information or
expert judgement
Costing Correct Answer - The conversion of the effort estimates into
currency by considering expected inflation, overhead and administrative costs
throughout the project life cycle
, Pricing Correct Answer - A vendor function and is a strategic decision
made by management that includes the costs associated with producing a
product or providing a service plus a profit margin
Managing risks Correct Answer - - Avoidance
- Transference
- Mitigation
- Acceptance
Teamwork Correct Answer - Two or more people efficiently working
together to achieve a common goal
Stages of team development Correct Answer - Forming
Storming
Norming
Performing
Motivation Correct Answer - Maslow - Hierarchy of needs
Vroom - Expectancy Theory
McClelland - Achievement Motivation Theory
McGregor - Theory X & Theory Y
Herzberg - Two Factor Theory
Triple constraint Correct Answer - Scope, cost (budget) & schedule
Earned Value Metrics Correct Answer - Planned Value
Earned Value
Actual Cost
Budget at Completion
Estimate at Completion
Estimate to Completion
Scope creep Correct Answer - The uncontrolled expansion to product,
service or project without addition to schedule, cost or resources
Project closure processes Correct Answer - Contract & administrative
Contract Management Correct Answer - The entire contracting process
from planning through contract administration
