BUS 395 Shortened Final Exam Study Guide With Complete Solution

7 Project Time Management Processes - Answer - Planning schedule management - Defining activities - Sequencing activities - Estimating activity resources - Estimating activity duration - Developing the schedule - Controlling the schedule Elements of a schedule management plan - Answer - Project schedule model development - Scheduling methodology - Level of accuracy and units of measure - Control thresholds - Rules of performance measurement - Reporting formats - Process descriptions Goals of schedule control - Answer - Know the status of the schedule - Influence the factors that cause schedule changes - Determine that the schedule has changed - Manage changes when they occur Main inputs to schedule control - Answer - Project management plan - Project documents - Work performance data - Organizational process assets Project cost management includes the processes required to ensure that the project is completed within an approved budget - Answer - Planning cost management - Estimating costs - Determining the budget - Controlling costs Contingency reserves: Management reserves: - Answer - unknowns - unknown unknowns Cost estimation tools - Answer - Analogous or top-down - Bottom-up estimates - Three-point estimates - Parametric estimating: uses project characteristics (parameters) in a mathematical model to estimate project costs Activities involved in controlling project costs: - Answer - Monitoring cost performance - Ensuring that only appropriate project changes are included in a revised cost baseline - Informing project stakeholders of authorized changes to the project that will affect cost Project quality management processes - Answer - Planning quality management - Managing quality - Controlling quality Scope Aspects of IT Projects - Answer Functionality Features System Outputs Performance Reliability Maintainability Main outputs of quality control: - Answer Acceptance decisions Rework Process adjustments Suggestions for improving quality for IT projects - Answer - Establish leadership that promotes quality - Understand the cost of quality - Provide a good workplace to enhance that quality - Work toward improving the organization's overall maturity level in software development and project management