What is a project?: Project Defined correct answers A temporary endeavor undertaken to create a unique product, service, or result
What is a project?: Major Characteristics correct answers -Established objective
-Defined life span
-Involves several departments and professionals
-Involves doi...
MGT 325 Exam 1 L'Hospital || 100% CORRECT
ANSWERS.
What is a project?: Project Defined correct answers A temporary endeavor undertaken to
create a unique product, service, or result
What is a project?: Major Characteristics correct answers -Established objective
-Defined life span
-Involves several departments and professionals
-Involves doing something never done before
-Specific time, cost, and performance requirements
Routine correct answers -Taking notes
-Attaching tags
-Practicing scales on piano
Projects correct answers -Writing term paper
-Wire-tag projects for GE
-Writing a new piano piece
-Finishing one required course
Program correct answers A group of related projects designed to accomplish a common goal
over an extended period of time
ex. Project of Projects, finishing all course
Program management correct answers A process of managing a group of ongoing,
interdependent, related projects in a coordinated way to achieve strategic objectives
Project Life Cycle: Executing correct answers 1. Status reports
2. Changes
3. Quality
4. Forecasts
Project Life Cycle: Closing correct answers 1. Train customer
2. Transfer documents
3. Release resources
4. Evaluation
5. Lessons learned
, Agile Project Management correct answers Is a methodology emerged out of frustration with
using traditional project management processes to develop software
-Employs incremental, iterative process sometimes referred to as a 'rolling wave' approach to
complete projects
-Works best in small teams of 4 to 8
Rolling Wave Development correct answers -Iterations typically last from 1 to 4 weeks
-The goal of each iteration is to make tangible progress such as define a key req., solve a
technical problem, or create desired features to demonstrate to the customer
The Project Manager correct answers -Manages temporary, non-repetitive activities and
frequently acts independent of the formal org
-Marshals resources for the project
-Is the direct link to customer
-Must induce the right people at the right time to address the right issues and make the right
decisions
Managing - coping with complexity correct answers -Formulate plans and objectives
-Monitor results
-Take corrective action
-Expedite activities
-Solve technical problems
-Serve as peacemaker
-Make tradeoffs among time, costs, and project scope
Leading - coping with complexity correct answers -Recognize the need to change to keep the
project on track
-Initiate change
-Provide direction and motivation
-Innovate and adapt as necessary
-Integrate assigned resources
Qualities of an Effective PM correct answers 1. Effective communications skills
2. Systems thinking
3. Personal integrity
4. Proactivity
5. High emotional intelligence(EQ/EI)
6. General business perspective
7. Effective time management
8. Optimism
Why PM Need to Understand Strategy correct answers Because projects implement the firm's
strategy!
Understanding the strategy will allow the Project Managers to: correct answers 1. Make
appropriate decisions and adjustments
2. Be effective project leaders and advocates. They need:
-Demonstrate it aligns with firm's mission
-Explain to stakeholders
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