Prioritization Techniques in Project Management

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What approach is typically used for requirement prioritization on a small project?

A structured and mathematical approach

A highly technical approach

A political approach

An informal agreement among stakeholders (correct)

When dealing with large or contentious projects, what type of approach is needed for requirement prioritization?

An informal approach

A structured approach (correct)

A highly technical approach

An emotional approach

What is the goal of analytical and mathematical techniques for requirement prioritization?

To estimate the relative value and relative cost of each requirement (correct)

To make the process more complicated

To increase the total product value and total cost

To remove all emotion and politics from the process

What are the highest priority requirements in a project?

Those that provide the largest fraction of the total product value at the smallest fraction of the total cost Signup and view all the answers

What do analytical and mathematical techniques aim to remove from the requirement prioritization process?

The guesswork Signup and view all the answers

Which type of requirement is considered mission critical?

High importance requirement Signup and view all the answers

What is the characteristic of a medium importance requirement?

Supports necessary system operations; required eventually but could wait until a later release if necessary Signup and view all the answers

Which scale dimension is associated with an essential requirement?

High Signup and view all the answers

What characterizes a conditional requirement?

Would enhance the product, but the product is acceptable if absent Signup and view all the answers

What distinguishes an urgent requirement from an optional requirement?

Urgent requirements are essential, while optional requirements would enhance the product but are not necessary Signup and view all the answers

What is the first step in calculating return on investment for requirement prioritization?

Assessing the value of each requirement Signup and view all the answers

What is a common difficulty in calculating return on investment for requirement prioritization?

Calculating absolute value/cost Signup and view all the answers

What is a challenge in treating interdependent requirements individually?

Inconsistencies in priorities assigned by individual stakeholders Signup and view all the answers

Which of the following is NOT a common difficulty in calculating return on investment for requirement prioritization?

Identifying high priority requirements Signup and view all the answers

What makes it easier to calculate return on investment for requirement prioritization?

Obtaining relative value/cost figures Signup and view all the answers

What is the formula used to derive overall priority in the semi-quantitative analytical approach?

priority = (value%) / ((cost% * cost weight) + (risk% * risk weight)) Signup and view all the answers

What are the dimensions considered in the semi-quantitative analytical approach for requirement prioritization?

Relative benefit, relative penalty, relative cost, and relative risk Signup and view all the answers

What is a common challenge in the semi-quantitative analytical approach for requirement prioritization?

The ability to properly estimate value, cost, and risk Signup and view all the answers

How are the dimensions of value, cost, and risk weighted in the semi-quantitative analytical approach for requirement prioritization?

They are weighted based on their relative importance in the project Signup and view all the answers

What is the scale used to represent the dimensions in the semi-quantitative analytical approach for requirement prioritization?

0 to 9 Signup and view all the answers