Exam (elaborations)

Ace Your ITM 750 Final Exam with Confidence

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Course
ITM 750

Institution
Ryerson University (Ru )

This ITM 750 Final Exam Review Guide is your ultimate resource for mastering project management and information systems concepts. Covering essential topics like project scope, risk management, quality control, stakeholder engagement, and agile practices, it provides a practical and comprehensive fr...

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ITM 750
FINAL EXAM REVIEW
Chapters- 1,2,3,4,5,6,7,8,9,10,11,12,13
Chapter 1:

1. Project Management Fundamentals

• Definition of a Project: A temporary endeavor to create a unique product, service, or result.
• Attributes of Projects: Unique purpose, temporary, progressive elaboration, requires resources,
involves uncertainty.
• Project Management Definition: Application of knowledge, skills, tools, and techniques to project
activities to meet project requirements.

2. Importance of Project Management

• Growing demand in IT due to increased spending and job opportunities (66M jobs in 2017, projected
87.7M by 2027).
• Advantages: Better resource control, improved customer relations, cost reduction, higher quality,
strategic goal alignment, and higher worker morale.

3. Project Management Framework

• Triple Constraint: Balancing scope, time, and cost.
• Stakeholders: Project sponsors, team members, suppliers, opponents, etc.
• Knowledge Areas: Scope, schedule, cost, quality, resource, communication, risk, procurement,
stakeholder, and integration.

4. Tools and Techniques

• Tools like Gantt charts, network diagrams, and cost estimates.
• Data analysis, representation, decision-making techniques.

5. Success and Challenges

• Success factors: Executive sponsorship, emotional maturity, skilled resources, and stakeholder
engagement.
• Challenges: High failure rates in IT projects due to poor planning and lack of clear objectives.

6. Role of Project Managers

• Requires technical, business, and leadership skills.
• PMI Talent Triangle: Technical skills, strategic business management, and leadership.

7. Certifications and Software

• PMP certification for advanced project management expertise.

, • Tools range from low-end (basic) to enterprise-level software like Microsoft Project.

FILL IN THE BLANKS:

1. A project is a temporary endeavor undertaken to create a unique product, service, or result. (Answer:
temporary)
2. The three main constraints in project management are scope, time, and cost. (Answer: scope, time, cost)
3. Stakeholders are people involved in or affected by project activities, including sponsors, team
members, and suppliers. (Answer: Stakeholders)
4. The PMI Talent Triangle consists of technical, strategic and business management, and leadership
skills. (Answer: technical, strategic and business management, leadership)
5. The term project portfolio management refers to the process of organizing and managing projects as a
portfolio of investments to align with enterprise goals. (Answer: project portfolio management)
6. The document that formally authorizes a project is called the project charter. (Answer: project charter)
7. Microsoft Project is the most popular mid-range project management tool, widely used across
industries. (Answer: Microsoft Project)
8. A group of related projects managed in a coordinated way is known as a program. (Answer: program)
9. Project management refers to the process of balancing scope, time, and cost goals to meet stakeholder
expectations. (Answer: Project management)
10. According to the CHAOS report, agile projects were more successful compared to waterfall projects.
(Answer: agile)

1. What is the primary purpose of a project?

• A) To sustain ongoing operations
• B) To create a unique product, service, or result
• C) To reduce organizational risks
• D) To manage financial resources
(Answer: B)

2. Which of the following is NOT a project attribute?

• A) Temporary
• B) Unique purpose
• C) Requires resources
• D) Has a recurring schedule
(Answer: D)

3. What are the three main components of the triple constraint in project management?

• A) Quality, Cost, Time
• B) Scope, Cost, Time
• C) Resources, Cost, Quality
• D) Scope, Quality, Time
(Answer: B)

,4. Which of the following is NOT a project management knowledge area?

• A) Stakeholder management
• B) Cost management
• C) Emotional intelligence
• D) Resource management
(Answer: C)

5. What is the primary role of the project sponsor?

• A) To execute project tasks
• B) To provide direction and funding
• C) To manage the project schedule
• D) To supervise the project team
(Answer: B)

6. Which tool is most commonly used for project scheduling?

• A) Gantt chart
• B) SWOT analysis
• C) Fishbone diagram
• D) Control chart
(Answer: A)

7. Which certification is provided by PMI for advanced project management expertise?

• A) Six Sigma Black Belt
• B) Agile Certified Professional (ACP)
• C) Project Management Professional (PMP)
• D) Certified Scrum Master (CSM)
(Answer: C)

8. What is the main advantage of project portfolio management?

• A) Reduces project complexity
• B) Ensures all projects meet financial goals
• C) Aligns projects with strategic objectives
• D) Guarantees project success
(Answer: C)

9. Which leadership style emphasizes empowering and serving team members?

• A) Transactional
• B) Servant Leader
• C) Transformational

, • D) Laissez-faire
(Answer: B)

10. According to the CHAOS study, what percentage of large IT projects were successful?

• A) 6%
• B) 11%
• C) 21%
• D) 39%
(Answer: A)

CHAPTER 2:

1. Systems View of Project Management

• Systems Thinking: A holistic approach to managing projects within an organization.
• Three Components: Systems philosophy, systems analysis, and systems management.
• Three-Sphere Model: Focuses on business, technology, and organizational impacts.

2. Organizational Context

• Four Frames of Organizations:
1. Structural Frame: Roles, responsibilities, and coordination.
2. Human Resources Frame: Balancing employee needs and organizational goals.
3. Political Frame: Managing power dynamics and conflicts.
4. Symbolic Frame: Organizational culture, symbols, and meanings.
• Organizational Structures: Functional, project, and matrix structures.

3. Stakeholder and Management Commitment

• Importance of Stakeholders: Identifying and managing stakeholder relationships.
• Top Management Commitment: Essential for project success through support, resources, and
guidance.

4. Project and Product Life Cycles

• Project Life Cycle: Phases include initiating, planning, executing, monitoring/controlling, and closing.
• Product Life Cycle: Includes models like Waterfall, Spiral, Prototyping, and Rapid Application
Development (RAD).

5. IT Project Management Trends

• Globalization: Managing communication, trust, and cultural differences.
• Outsourcing: Acquiring resources from external sources for cost efficiency.
• Virtual Teams: Using technology for remote collaboration.
• Agile Methodology: Emphasizes flexibility, iterative development, and stakeholder collaboration.

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