C722- Project Management, WGU C722 (Pre), WGU C722 Project Management Terminology, WGU C722 Project Management Terminology, WGU C722 Equations
A firm begins its strategic business initiative of developing a new business model that will allow the firm to deliver an efficient, tailored service to ...
wgu c722 equations a firm begins its strategic business initiative of devel
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C722- Project Management, WGU C722 (Pre), WGU
C722 Project Management Terminology, WGU C722
Project Management Terminology, WGU C722
Equations
A firm begins its strategic business initiative of developing a new business model
that will allow the firm to deliver an efficient, tailored service to its customers. To
accomplish this, the firm initiates a business management project. Which aspect
of project management applies to this firm's project?
Interdependent Tasks
A firm begins its strategic business initiative of developing a new business model
to enhance its competitiveness. What can be identified as a strategic business
initiative for this firm?
Improvement in product design
A firm begins a strategic business initiative of developing a new business model
that will allow the firm to deliver an efficient, tailored service to its customers.
Project sponsor
Which group is included in the five process groups?
Closing process group
What does PRINCE2 stand for?
PRojects IN a Controlled Environment
Which PMBOK process group is described as the delivery part of project
management where the main activity happens?
Executing
Which advantage does the functional (departmentalized) organizational structure
provide for a firm with multiple projects?
Lines of authority are clear.
Which two organizations are examples of organizations with the functional
organizational structure?
(1) The U.S. Department of State and (2) The U.S Department of Energy
An organization expects to use a project management office (PMO) to support
multiple projects that will be implemented within a projectized organizational
structure. Which implied effect is a benefit to this organization?
Project team members gain access to historical data from other projects.
Regardless of the organizational structure used to manage a project, an
organization elects to use a project management office (PMO). Which benefit will
this organization gain?
Projects will coordinate resource usage by monitoring the status of shared resources.
During a certain project phase, specific blueprints are drawn and approved,
materials and labor costs are estimated, prototypes are created, and work
activities and tasks are identified. Also, quality expectations, measurements, and
costs are defined. During which project phase do these activities occur?
Planning
Place the project activities in order of occurrence from first (1) to last (5).
,(1) Collecting customer requirements (2) Developing the work breakdown structure (3)
Working to produce project deliverables (4) Customers evaluating the project outcomes
(5) Capturing lessons learned
During which life cycle phase is the vast majority of the actual work to produce
the project's deliverables completed?
Executing
What is the correct term for an intermediate outcome of project work, such as a
signed contract or obtaining a construction permit?
Deliverable
Which deliverable from a work breakdown structure (WBS) is not specific enough
to measure its completion at project closure?
User training
The following table shows the Level 1 work breakdown structure (WBS) for
Project A.
WBS ID Description
0.0 Project A
1.0 Project started
2.0 Feasiblity
3.0 Design
4.0 Development
5.0 Manufacturing
6.0 Distribution
7.0 Project completed
Which approach did the project manager use to structure the WBS?
Sequence of project phases
For the following collapsed work breakdown structure (WBS) for Project O, the
project manager must complete the scope baseline. In addition to the WBS, the
scope baseline will contain two additional documents.
WBS ID Description
0.0 Project O
1.0 Project started
2.0 Feasibility
3.0 Design
4.0 Development
5.0 Manufacturing
6.0 Distribution
7.0 Project completed
What are the other two documents that belong in the scope baseline?
WBS dictionary and project scope statement
For the following collapsed work breakdown structure (WBS) for Project O, the
project's steering committee held a phase gate review of the Feasibility results.
That review determined that the project's proposed design would be obsolete
before it would reach the marketplace.
,WBS ID Description
0.0 Project O
1.0 Project started
2.0 Feasibility
3.0 Design
4.0 Development
5.0 Manufacturing
6.0 Distribution
7.0 Project completed
Which action should the project manager initiate?
Terminating the project as soon as possible and releasing the project's resources
A project is an operational necessity to repair a design flaw in the date field that
constrains the year number to two digits, instead of permitting the year to be
indicated with four digits. If the project is not completed before December 31,
1999, many legacy programs are expected to fail or produce unpredictable
outcomes. The marketing department wants to upgrade its existing computer
equipment and have the costs included in the budget for this project. The project
team implemented the marketing department's request without completing the
formal change control procedures.
What has happened to the scope baseline in this scenario?
Scope creep has caused a scope variance.
A general contractor is managing a highway construction project that will repair a
flood-damaged road. The project was documented in a cost-plus-incentive fee
contract that specified a completion date of June 30. The Department of
Transportation has offered an incentive for early completion of the repairs.
Which triple-constraint baseline remains unchanged by the effects of the
incentive?
Scope
In Project A, the contract specifies that time is very important. All of the scope
must be completed, or the project will fail. The project's objective requires the
project team to work as quickly as possible.
Which triple constraint can be adjusted to permit the project team to work as
quickly as possible?
Cost
In Project B, all of the scope must be completed, or the project will fail. The work
is important but not urgent.
Which triple constraint can be adjusted if the project's objective requires the
project team to work at the lowest possible cost?
Time
A project manager is discussing the latest financial reports of a project to
construct a grocery store and is approximately 90% into the planning phase. The
project manager has been told by a project team member that other grocery
, stores in the area have an automated teller machine (ATM) for visitors. An ATM
has not been discussed or incorporated into the planning of this project nor have
any been incorporated into prior grocery store services. The leader calls for the
immediate addition of an ATM into all prior grocery stores.
Which non-numeric model is this leader using?
Competitive necessity
An organization has a surplus of project dollars in the operating budget. The
senior leader's decision is to fund one more project with the remaining funds. Of
the three projects proposed, one of the projects was selected without evaluation
of feasibility or viability.
Which non-numeric model is this leader using?
Sacred cow
Each project team member generated a series of questions to evaluate three
projects. The checklist was compiled into one list based on frequency of question
content, such as personnel, materials, experience, and time. The more frequent
the question content, the more likely the questions would be asked first.
Which two benefits result from this checklist approach?
(1) Operational impact has been built in (2) Strategic impact has been integrated.
Each project team member generated a series of questions to evaluate three
projects. A checklist was then compiled into one list based on the frequency of
question content, such as personnel, materials, experience, and time.
What is a disadvantage of using this checklist approach?
Biases have not been eliminated.
To calculate money's worth today compared to in the future
Time value of money
To calculate future cash flows using time and interest rate
Internal rate of return
To calculate whether revenue tomorrow is greater than costs today
Net present value
To calculate the alternative use of money
Opportunity cost
What is the time value of money?
The concept that a dollar today is worth a dollar, but a dollar in a year will be worth less
than a dollar
What is internal rate of return?
The discount amount when present value of cash intake equals the original investment
Which two processes are considered iterative processes?
(1) Planning (2) Executing
Which activity is accomplished as part of the planning process of a project?
Finalizing the project budget
Which activity is accomplished as part of the planning process of a project?
Finalizing the project schedule
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