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FAM 104 Test 1 Questions with All Correct Answers

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FAM 104 Test 1 Questions with All Correct Answers Define Project Management - Answer- a discipline, a set method, theories and techniques that have evolved to manage the complexities of work that is unique & temporary 5 project success factors - Answer- 1) Agreement of a product team, custom...

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  • September 28, 2024
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  • 2024/2025
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  • Questions & answers

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FAM 104 Test 1 Questions with All
Correct Answers

Define Project Management - Answer- a discipline, a set method, theories and
techniques that have evolved to manage the complexities of work that is unique &
temporary

5 project success factors - Answer- 1) Agreement of a product team, customer and
management of the goals

2) A plan showing overall path and a clear responsibility which can be used to measure
progress

3) Constant, effective communication among everyone involved

4) Controlled Scope

5) management Support

Project vs On-going operation - Answer- Project - work that is done on time, has a
beginning and end. Produces unique product

On-going Operations - no end point specified. Producing similar often identical products

Identify 3 overarching skill areas in which a project manager must be knowledgable -
Answer- 1) Project Management

2) Business Management

3) Technical Skills

Define Project Success - Answer- Cost, Schedule and Performance

Office Functional Disciplines - Answer- System EN, CO, PM, FM, LG, Test

Define Work Breakdown Structure - Answer- A tool used to break a project down into
manageable pieces of work. Deliverable oriented

Steps:
1) what are your major deliverables
2) identify all tasks required
3) Organize the WBS

, Explain how a WBS clarifies and provides necessary details for project management
activities - Answer- Helps to:
- provide a detailed illustration of project scope
- Monitor progress
- Helps provide accurate cost and schedule (not a schedule, helps build one)
- Build your project team
- serves as the foundation for your project plan

Summary Task vs Work Package - Answer- Summary Tasks has branches underneath.
(no work)

Work Packages have work associated with them

Explain the considerations in determining how far to extend a WBS branch - Answer-
3rd or 4th level (don't do contractors work)
8/80 rule

Importance of Critical Path and Slack/Float - Answer- Critical Path - Events that directly
affect the schedule. (have zero slack)

Slack - can slip without affecting the schedule.

Identify the planning steps involved with developing a project schedule - Answer- 1)
Build a WBS - identify activities and develop the precedence relationships associated

2) Identify task relationships - construct a diagram

3) Estimate activity durations
- Parametric - find some parameter that relates to schedule
- Expert opinion
- Analogy - find a similar system and relate

4) Calculate initial schedule via CPM

5) Assign and Level Resources

Critical Path Method - Answer-

Program Evaluation and Review Technique (PERT) vs Monte Carlo - Answer- PERT -
Only looks at Critical Path, uses statistics and a normal distribution, More Optimistic

Monte Carlo - Considers all paths through a network, Computer generates random
number for durations, More robust

Identify Ways for balancing a project at the project level - Answer- Triple constraint

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