Project Management Concepts Quiz
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What is the primary purpose of a project charter?

  • To provide an in-depth analysis of the project
  • To communicate the initiation of a project to stakeholders (correct)
  • To serve as an official contract between parties
  • To evaluate the success of a project after completion

    • The project charter does not include the projected start and completion dates.

    False (B)

    What is the main goal of the project planning process?

    To develop the Baseline Project Plan (BPP) and the Project Scope Statement (PSS).

    The __________ outlines the primary tasks and activities necessary to complete a project.

    <p>Project Scope Statement</p> Signup and view all the answers

    Match the elements of project planning with their descriptions:

    <p>Project scope = Defines what is included in the project Resource plan = Estimates resource requirements Preliminary schedule = Gives an overview of project timelines Statement of work = Details the deliverables and tasks to be accomplished</p> Signup and view all the answers

    What is the primary role of the coordinator in a meeting?

    <p>To plan the meeting and facilitate a smooth process (D)</p> Signup and view all the answers

    The maintenance oracle's role is to ensure the work product adheres to organizational technical standards.

    <p>False (B)</p> Signup and view all the answers

    What is the purpose of a cost-benefit analysis in project planning?

    <p>To evaluate the financial feasibility of a project by comparing costs and benefits.</p> Signup and view all the answers

    The role of the __________ is to ensure that the work product meets the needs of the project’s customers.

    <p>user</p> Signup and view all the answers

    Match the following project roles with their responsibilities:

    <p>Coordinator = Plans the meeting and facilitates the process Presenter = Describes the work product to the group Secretary = Takes notes and records decisions Standard-bearer = Ensures adherence to technical standards</p> Signup and view all the answers

    What primarily does the Business Case justify?

    <p>An information system (D)</p> Signup and view all the answers

    The Baseline Project Plan (BPP) only contains the project's costs.

    <p>False (B)</p> Signup and view all the answers

    What does the Project Scope Statement (PSS) outline?

    <p>It outlines all work required to complete the project.</p> Signup and view all the answers

    _____ feasibility examines the financial benefits and costs associated with a development project.

    <p>Economic</p> Signup and view all the answers

    Which of the following is an example of a tangible benefit?

    <p>Reduced personnel expenses (B)</p> Signup and view all the answers

    Match the types of feasibility with their correct descriptions:

    <p>Economic = Identifying financial benefits and costs Technical = Assessment of technical requirements Operational = Evaluation of process efficiency Legal = Review of legal and contractual obligations</p> Signup and view all the answers

    Project benefits only include tangible measures.

    <p>False (B)</p> Signup and view all the answers

    What is the purpose of conducting a cost-benefit analysis?

    <p>To identify financial benefits and costs associated with a development project.</p> Signup and view all the answers

    What is the concept that explains why money available today is worth more than the same amount in the future?

    <p>Time Value of Money (A)</p> Signup and view all the answers

    A dollar received today is valued the same as a dollar received next year.

    <p>False (B)</p> Signup and view all the answers

    What term refers to the rate of return used to compute the present value of future cash flows?

    <p>Discount rate</p> Signup and view all the answers

    The formula to compute the present value based on future cash flows involves using the __________.

    <p>discount rate</p> Signup and view all the answers

    What does NPV stand for in finance?

    <p>Net Present Value (C)</p> Signup and view all the answers

    What analysis helps determine at what point benefits equal costs?

    <p>Break-even analysis</p> Signup and view all the answers

    Match each concept with its correct description:

    <p>Time Value of Money = Money available today is worth more than in the future Discount Rate = Rate of return for present value calculations Net Present Value = Sum of present values across years Break-even Analysis = Identifying point where benefits equal costs</p> Signup and view all the answers

    Technical feasibility assesses the development organization's ability to construct a __________ system.

    <p>proposed</p> Signup and view all the answers

    What are fixed costs?

    <p>Costs billed at a regular interval and at a fixed rate (D)</p> Signup and view all the answers

    Variable costs are consistent and do not change over time.

    <p>False (B)</p> Signup and view all the answers

    Define Return on Investment (ROI).

    <p>The ratio of cash receipts to cash outlays.</p> Signup and view all the answers

    In the Time Value of Money concept, money available today is worth more than the same amount ______ for reasons of inflation and opportunity cost.

    <p>tomorrow</p> Signup and view all the answers

    Match the following concepts with their definitions:

    <p>Net Present Value (NPV) = Determining present value of cash outlays and receipts using a discount rate Break-Even Analysis (BEA) = Amount of time required for cumulative cash flow to equal initial investment Procurement = Consulting, site preparation, and other related expenses Operating Costs = System maintenance and oversight expenses</p> Signup and view all the answers

    Which of the following is NOT classified as a project-related cost?

    <p>Asset depreciation (C)</p> Signup and view all the answers

    Break-Even Analysis helps determine the point at which cash inflows meet cash outflows.

    <p>True (A)</p> Signup and view all the answers

    What is the total amount to be paid for a used car to a friend over three years if the payments are $1500 each?

    <p>$4500</p> Signup and view all the answers

    What is the primary purpose of the new information system?

    <p>To collect customer purchasing activity and support marketing (C)</p> Signup and view all the answers

    The new system will have no impact on existing systems.

    <p>False (B)</p> Signup and view all the answers

    What are the expected deliverables of the new information system project?

    <p>Customer tracking system analysis and design, customer tracking system programs, training procedures.</p> Signup and view all the answers

    The expected duration of the project is ______ months.

    <p>5</p> Signup and view all the answers

    Match the following factors with their descriptions:

    <p>Organizational units = Departments that will be affected by the new system Current systems = Systems that will interact with the new system People affected = Individuals impacted by the project Potential capabilities = Skills that the new system may require</p> Signup and view all the answers

    Which section of the baseline project plan discusses costs and benefits?

    <p>Feasibility assessment (A)</p> Signup and view all the answers

    What is the objective of structured walkthroughs in project management?

    <p>To ensure the proposed system conforms to organizational standards.</p> Signup and view all the answers

    Structured walkthroughs can only be conducted by upper management.

    <p>False (B)</p> Signup and view all the answers

    Study Notes

    Modern Systems Analysis and Design - Chapter 5

    • Chapter 5 focuses on initiating and planning systems development projects.
    • Learning objectives include describing project initiation and planning steps, explaining Project Scope Statement and Baseline Project Plan contents, listing and describing feasibility methods, and differentiating tangible/intangible, one-time/recurring benefits and costs.
    • Additional objectives include performing cost-benefit analysis, evaluating technical risks in systems development projects, and describing structured walkthrough activities and roles.
    • Key questions for considering the division between Project Initiation and Planning (PIP) and analysis include: What must be considered when making the PIP decision? How much effort should be expended on PIP? Who is responsible for PIP? Why is PIP challenging?
    • The initiation and planning process is a crucial part of the systems development life cycle.
    • Project Initiation and Planning (PIP) focuses on activities that help organize a team for project planning.
    • Key activities in project initiation include establishing a project initiation team, building relationships with customers, creating a project initiation plan, establishing management procedures, defining the project management environment/workbook, and developing a project charter.
    • The project charter is a key deliverable of project initiation. It’s a short document for stakeholders (internal and external) providing a high-level project overview to ensure understanding.
    • Elements of project planning include describing scope, alternatives, feasibility, dividing the project into tasks, estimating resource requirements, creating a resource plan, developing a preliminary schedule, and creating a communication plan. Also included are determining standards/procedures, identifying/assessing risk, producing a preliminary budget, developing a statement of work, and setting the baseline project plan.
    • A deliverable of the PIP phase is the Baseline Project Plan (BPP). It details scope, benefits, costs, risks, and resource requirements. The Project Scope Statement (PSS) documents the project deliverables and high-level work required.
    • Assessing project feasibility has various aspects: economic, technical, operational, scheduling, legal/contractual, and political.
    • Economic feasibility involves cost-benefit analysis, considering tangible and intangible costs/benefits (one-time/recurring) and the time value of money.
    • Tangible benefits are measurable in dollars (e.g., reduced personnel expenses, lower transaction costs, higher profit margins).
    • Intangible benefits are not easily measured in dollars (e.g., improved employee morale, reduced waste.)
    • Tangible costs are measurable in dollars (e.g., hardware costs, labor costs, operational costs).
    • Intangible costs are not easily measured in dollars (e.g., loss of customer goodwill, reduced employee morale, operational inefficiency).
    • One-time costs are associated with project start-up and development (e.g., new hardware/software purchases, user training).
    • Recurring costs are ongoing costs related to the system's use and evolution (e.g., application software maintenance, incremental data storage).
    • The concept of "Time Value of Money (TVM)" is crucial for cost benefit analysis. This concept considers the idea that money today is worth more than the equivalent amount tomorrow. This is calculated by Present Value (PV)
    • Factors in determining scope include the organizational units affected, current systems that interact with the new system, people impacted by new system, and the potential system capabilities.
    • Analyzing technical feasibility involves assessing project size, project structure, familiarity of the development group with the application/technology area and the user group’s familiarity with similar systems.
    • Potential project risks include inaccurate project cost/duration estimates, failure to achieve adequate system performance, and failure to integrate the new system with existing systems.
    • Managing risks involves adjusting project plans, assigning specialized team members, and monitoring potential risks.
    • Four primary technical risk factors for projects are project size, project structure, experience of the development group in the area of application/technology, and experience of the user group.
    • Steps for reviewing the baseline project plan using structured walk-throughs include utilizing roles like a coordinator, presenter, user, secretary, standard-bearer, and maintenance oracle. Structured walkthroughs aim to ensure the proposed system fulfills organizational standards and that all relevant parties understand it.

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    Description

    Test your understanding of key project management concepts with this engaging quiz. Questions cover project charters, planning processes, roles and responsibilities, and essential documents like the Business Case and Project Scope Statement. Perfect for students or professionals looking to refine their project management skills.

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