ITPM Exam Questions And Answers Graded A+
What is a business case, at which stage is it done, what elements does it include?
The justification for doing the project
What are the stages of Schedule development?
Activities from WBS
Estimate durations
Work out dependencies
Develop network d...
ITPM Exam Questions And Answers Graded
A+
What is a business case, at which stage is it done, what elements does it include?
The justification for doing the project
What are the stages of Schedule development?
Activities from WBS
Estimate durations
Work out dependencies
Develop network diagram
Calculate duration, CP, float
What is a project
Unique process. Coordinated with start and finish dates. It is done to achieve requirements within
time, cost and resources.
What is the difference between project and Business as usual
*Project
Roles are assigned
High risk
Unique
Temporary
Brings change
B-a-U
Relies on people knowing roles
Lower risk
Repetitive
Permanent
Involves known procedures
Does not involve change
What is the project environment dependent on?
1. Internal settings (affects the project team)
2. External-to-project (sponsorship, budgets)
3. Industry settings (competitive factors in industry)
4. Macro-external (PESTLE) - National politics, economic factors.
Who owns the business case
The project sponsor
Who creates the business case
Sponsor, Project Manager, Customer
What does the business case consist of? (Nilesh confirms we need to know them)
1. Description of potential project
2. The reason for it
3. A high level plan
4. Assumptions and Constraints
, 5. Success criteria
6. Alternatives and justification why this one
7. High level financial appraisal(assessment)
What is a success criteria?
Implementation of scope within time & budget. It is the metric to evaluate against.
For example, if we take our degree, we have to achieve something. if that is "Pass", this will be the
success criteria which will be measured by calculating our average of grades.
What are the success factors?
The things we need to do to enable success.
(e.g. In our degree: do research, attend classes, work hard).
(e.g. In a group, we are required to follow success factors: Communicating with the rest & etc.)
What are KPIs
KPI = Key Performance Indicators. These are things such as "Earned Value", "Staying on schedule". The
results of these are our KPIs. It can be measured as we go along.
For example, for our degree our average grade will be the Key Performance Indicator.
What is scope?
What the project is going to do & what the project is NOT going to do.
What are the stages of the Project Life-Cycle
1. Initiation Stage
2. Planning/Definition Stage
3. Execution/Development Stage
4. Closure & Handover Stage
*Benefits Realisation
5. Operations (members of the project team will be there to provide assistance and expertise for
further projects that need to be developed to enhance the system)
6. Termination
*Gate Reviews after every stage (Go/No-Go point)
What is Benefits realisation
Benefits Realisation (after Handover & Closeout. We have an extended post-project review to make
sure the anticipated improvements are realised. Whoever has done the project is in the best position
to complete this, ensuring in-depth view of activities. // IT HAS TO BE VALIDATED BY THE SPONSOR)
We will document what was done, how was it done and document it on a "Lessons learned"
document to be used by future projects.
What is the 1. Initiation Stage of the Project Life-Cycle and what are its elements?
Basically, the idea/problem and we are thinking to do a project because we think there is a need.
(The project manager might not be in place yet)
Consists of
Essentially, we are developing the justification for doing the project. (this requires more people and
more cost to do a high level plan)
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