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Saylor Academy BUS 402 Project Management Exam Questions and Answers
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Saylor Academy BUS 402 Project Management Exam
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Saylor Academy BUS 402 Project Management Examproject <unit 1> - Answer- Is temporary, meaning it is not part of the organization's everyday business processes. An activity that has a clear ending and produces something that does not already exist.
Project Management <unit 1> - Answer- Breaking a project down into manageable smaller units or tasks and completing temporary activities on time and within the budget that the client or stakeholder has defined
Processes for the Best Chance of Success <unit 1> - Answer- --At the beginning of the project, make sure the client or stakeholder agrees to all of the deliverables --Proper planning prevents poor project performance.
--Use project management tools
--Create a team that has the skills and knowledge necessary to complete the project.
--Understand the roles, duties, and responsibilities of team members and stakeholders --Plan how you will communicate with your team members and stakeholders.
--Plan how you will deal with problems and risks before they occur
--Transfer the lessons you have learned to future projects.
History of Project Management <unit 1> - Answer- --Project management has been around since human beings began to create structures they wanted to last.
--Completing these large projects required organizing efforts to meet the exact specifications of the end-users and stakeholders.
-- In 1911 Frederick Taylor, the father of scientific management, used scientific reasoning to demonstrate we can complete tasks more efficiently when we break the work processes down into smaller tasks.
-- Henri Gantt built on Taylor's work by creating the Gantt chart, an easy-to-use management tool designed to track multiple tasks in large projects.
-- Similar tools include the program evaluation and review technique (PERT) and the critical path method (CPM).
--With scientific management theory as its backbone and various tools available to keep
track of processes, project management methods have expanded across many fields.
Frederick Taylor <unit 1> - Answer- The father of scientific management. They used scientific reasoning to demonstrate we can complete tasks more efficiently when we break the work processes down into smaller tasks. Henri Gantt <unit 1> - Answer- Built on Frederick Taylor's work by creating the Gantt chart
2008 PMBOK knowledge areas <unit 1> - Answer- Scope management,
Time management,
Cost management,
Quality management,
Human resource management,
Communications management,
Risk management,
Procurement management,
Stakeholder management,
Integration management.
Initiation process <unit 1> - Answer- The project start-up, working with clients or stakeholders to determine the project scope and defining the end product.
Planning Process <unit 1> - Answer- Creating the appropriate schedules, budgets, and communication tools they will employ throughout the project.
Execution Process <unit 1> - Answer- The actual work the team will perform to create the product or deliverable.
Monitoring and Controlling Process <unit 1> - Answer- Matches the initial plan with what
actually happens and provides a way to adapt the plan as needed.
Closing Process <unit 1> - Answer- Final product delivery, getting client or stakeholder approval, and reviewing the entire process to determine what went well and what can be improved.
Scope Statement <unit 1> - Answer- Establishes project parameters that define what will be done.
Project Schedule <unit 1> - Answer- begins with a milestone schedule followed by a WBS and a project diagram.
critical path <unit 1> - Answer- The longest path through the project diagram.
float <unit 1> - Answer- The difference between the completion of the critical path and the project finish date.
Crashing a project <unit 1> - Answer- Shortening the critical path.
Cost estimating <unit 1> - Answer- Begins with a conceptual or ballpark estimate that is followed by a ROM estimate. A project budget is determined from the cost of the tasks
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