Flashcards
Initiating the Project
Cards in this deck (40)
- 1What are 8 tasks of the Initiating Process Group?1. Perform project assessment
2. Identify key deliverables
3. Perform key stakeholder analysis
4. Identify high-level risks
5. Develop project charter
6. Obtain approval of project charter
7. Conduct benefit analysis w/stakeholders
8. Inform stakeholders of approved project charter - 2What is the objective of Task 1: Perform Project Assessment?Evaluate the feasibility of the project deliverables within the given assumptions and/or constraints.
- 3What are some ways to analyze the cost/benefit of a project? (Task 1: Project Assessment)1. Payback period
2. Average rate of return (using Net Present Value)
3. Internal Rate of Return - 4What is Project Selection? (Task 1: Project Assessment)A systematic approach in evaluating and selecting a project or group of projects among other projects.
Processes can be numeric or non-numeric. - 5What are examples of non numeric project selection processes? (Task 1: Project Assessment)1. Sacred Cow - relies on the powerful official
2. Operating Need - ex. must change from obsolete platform
3. Competitive Need
4. Product Line Extension - 6What is a good way to gather information on the feasibility / requirements of a project? (Task 1: Project Assessment)Hold meetings with sponsors, customers, and subject matter experts.
- 7What are the three Determine Requirements outputs? (Task 1: Project Assessment)1. Requirements documentation
2. Requirements Management Plan
3. Requirements Traceability Matrix - 8What is the objective of Task 2: Identify Key Deliverables?Identify the deliverables to meet the customer's project expectations.
- 9What are the basic rules of Brainstorming? (Task 2: Key Deliverables)1. All ideas are accepted; no censoring
2. Quantity, not quality
3. Do not discuss or evaluate ideas
4. Building on ideas is encouraged
5. Say 'pass' when you run out of ideas - 10True or False: You may need to gather information by conducting interviews with stakeholders and SMEs. (Task 2: Key Deliverables)True.
Facilitating an efficient interview will help you gather the information you need quickly and with minimal repeat visits to your target audience. - 11What are the four categories of content that the Project Scope Statement covers? (Task 2: Key Deliverables)1. Major project deliverables
2. Objectives
3. Assumptions/Constraints
4. Statement of Work (SOW) - 12What are Assumptions? (Task 2: Key Deliverables)Facts that are considered factual, real, or certain, such as the start-date. Assumptions generally involve a degree of risk.
- 13What are Constraints? (Task 2: Key Deliverables)Factors limiting the project manager's options regarding scope, staffing, and scheduling. Constraints are typically stated in the contract.
- 14What are Project Requirements? (Task 2: Key Deliverables)Conditions or capabilities that must be met or possessed by the project deliverables to satisfy a contract, standard, specification or other formally imposed items.
- 15What is a Schedule Milestone? (Task 2: Key Deliverables)A significant event on a project schedule, such as an event restraining future work, or one that marks the completion of a major deliverable. It has zero duration.
- 16What is a Project Specification? (Task 2: Key Deliverables)A document that specifies the requirements, characteristics, procedures, and other components of the project to ensure satisfaction. It can also be a product, design, or test specification.
- 17What are the objectives of Task 3: Perform Stakeholder Analysis?Ensure expectation alignment and gain support for the project.
- 18What are the five activities to perform in order to analyze project stakeholders successfully? (Task 3)1. Identify the appropriate stakeholders
2. Identify each stakeholder's interest in the project
3. Measure each stakeholder's interest
4. Anticipate each stakeholder's future behavior in order to satisfy their interests
5. Evaluate the effects of each stakeholder's behavior on the project team's ability to manage the project - 19What is the power/interest grid model for classifying influence of stakeholders? (Task 3)Stakeholders are grouped based on their authority ("power") and their interest in the project outcomes.
- 20What is the power/influence grid model for classifying influence of stakeholders? (Task 3)Stakeholder are grouped by their "power" and their active involvement ("influence") in the project
- 21What is the influence/impact grid model for classifying influence of stakeholders? (Task 3)Stakeholders are grouped based on their "influence" in the project and their ability to make important changes to the project ("impact").
- 22What is the salience model for classifying influence of stakeholders? (Task 3)This model groups stakeholders based on their "power", need for attention ("urgency"), and legitimacy (their appropriate level of involvement in the project).
- 23What is a stakeholder register? (Task 3)Contains key identification information, assessment information, and stakeholder classification (internal, external, support/resistor, etc.)
- 24What is a Stakeholder Management Strategy? (Task 3)The approach that will be taken to increase the support of a stakeholder and decrease any negative impacts the stakeholder may have.
- 25What are the objectives of Task 4: Identify High-Level Risks?Identify project limitations and propose an implementation approach.
- 26What is a Project Risk? (Task 4)An uncertain occurrence or event that impacts at least one project objective. A project risk may occur due to poor planning of resources or disregarding potential impacts to the organization or environment.
- 27What does Project Risk Management ensure? (Task 4)It ensures adequate planning, development, and implementation, as well as safety of personnel and the public.
- 28What does Project Risk Management include? (Task 4)1. Planning how risk will be controlled
2. Identify potential risks
3. Assessing probability of risks
4. Evaluating the overall impact identified risks will have on the project outcome
5. Developing actions to mitigate risk threats
6. Monitoring and executing risk control - 29What are four Risk Conditions that may impact project success? (Task 4)1. Lack of formal development process
2. Lack of explicit procedural or quality standards
3. Unclear project strategy
4. External participants that cannot be controlled - 30What are Known Risks? (Task 4)Those which have been identified and analyzed, and have a planned response.
- 31What is an Unknown Risk? (Task 4)Unknown Risks cannot be managed proactively. Contingencies must be put in place to protect the project from such risks (allocate general contingency)
- 32True or False: A consistent approach to risk should be developed for each project. (Task 4)True
- 33What are the objectives of Task 5: Develop Project Charter?The objective of developing a Project Charter is to document the project scope, milestones, and deliverables.
- 34What is the purpose of the Project Charter? (Task 5)The Project Charter authorizes the project and links it to the ongoing work of the organization.
- 35What should be documented in the Project Charter? (Task 5)1. Project requirements
2. Project purpose & justification
3. Summary of milestone schedule
4. Summary of budget
5. Level of authority assigned to PM
6. Assumptions & Constraints - 36What does the SOW include? (Task 5)1. The business need
2. The strategic plan
3. The product scope description - 37What is the Business Need (or Business Case)? (Task 5)A Business Case is generated or supported from one or more of the following:
1. Customer requests
2. Market demand
3. Needs within the organization
4. Technological, legal, ecological or social changes/needs
5. Enterprise environmental factors & systems - 38What are the objectives of Task 6: Obtain Approval of Project Charter?To formally assign authority of the project to a project manager and gain commitment of resources to the project by the sponsor.
Gaining approval from the customer helps align project results to customer expectations. - 39What are the objectives of Task 7: Conduct Benefit Analysis with Stakeholders?To analyze the project benefits and ensure the project is in alignment with the organizational strategy and provides expected business value. (Review the Business Case)
- 40What are the objectives of Task 8: Inform Stakeholders of Approved Project Charter?Communicating the approval of the charter and setting the tone for managing stakeholder engagement.
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- PMP Flashcards on Initiating the Project, created by Corey Beach on 16/01/2017.
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- Corey Beach
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