Project Management Final Exam Review PDF

Project Management Final Exam Review Chapter 1: Introduction to Project Management 1.3 What is a Project? 1. What is the Project Management Institute’s definition of a project? A project is defined as "a temporary endeavor undertaken to...

Project Management Final Exam Review Chapter 1: Introduction to Project Management 1.3 What is a Project? 1. What is the Project Management Institute’s definition of a project? A project is defined as "a temporary endeavor undertaken to create a unique product, service, or result." 2. Circle the items below that meet the definition of a project. Draw a line through the items that do not. Sending an email to your boss (Not a project - Line through) Working on a group project for class (Project - Circle) Preparing a presentation (Project - Circle) Planning a marketing campaign for your company (Project - Circle) Playing a video game (Not a project - Line through) Doing homework (Not a project - Line through) 3. Fill in the blanks with the attributes of a project found in the readings. A project... is a temporary endeavor, with a defined start and end. has a specific objective. has customers or stakeholders. has constraints, such as time, scope, and cost. has measures for success. includes some amount of uncertainty. 4. What are the differences between projects and routine operations? Operations Projects Ongoing Temporary Produce consistent results Produce unique outcomes Continuous stakeholders Specific to the project Managed functionally Led by a project manager 1. Fill in the blanks below with the project constraints on a typical project. Time, Scope, Cost, Quality, Resources, Risk 2. Define each constraint in the space below. a. Time: The schedule for completing the project. b. Scope: The specific work required to deliver the project's result. c. Cost: The budget required to complete the project. d. Quality: Standards or criteria the project's deliverables must meet. e. Resources: Assets such as personnel, equipment, and materials. f. Risk: Potential events that could positively or negatively affect the project. 1.4 What is Project Management? 1. What is the definition of project management? Project management is the process of leading the work of a team to achieve all project goals within the given constraints. 2. Fill in the blanks below with the following terms. Project Management Final Exam Review 1  Project management is a process that includes planning, putting the project plan into action, and measuring performance and progress. 3. What are the 12 guiding principles for project management, as defined by the Project Management Institute? a. Be a diligent, respectful, and caring steward. b. Create a collaborative project team environment. c. Effectively engage with stakeholders. d. Focus on value delivery. e. Recognize, evaluate, and respond to systems. f. Demonstrate leadership behaviors. g. Tailor based on context. h. Build quality into processes and deliverables. i. Navigate complexity. j. Optimize risk responses. k. Embrace adaptability and resilience. l. Enable change to achieve the envisioned future state. 4. Match the performance domain with its definition. Performance Domain Definition 1. Stakeholder B. activities and functions associated with identifying, engaging, and managing stakeholders 2. Team D. activities and functions associated with the people responsible for project deliverables 3. Development Approach G. activities and functions associated with the cadence or phase of a project 4. Planning F. activities and functions associated with establishing processes and managing resources 5. Project Work A. activities and functions associated with project deliverables and outcomes 6. Delivery E. activities and functions associated with delivering scope and quality 7. Measurement H. activities and functions associated with assessing project performance 8. Uncertainty C. activities and functions associated with risks and unknown events 1.5 Project Management Roles 1. Fill in the blanks to identify the responsibilities or characteristics of the primary project management roles. a. Project Sponsor Acts as the liaison between the project team and upper management. May provide the project manager with assistance, direction about strategic goals, and supporting resources. Champion for the project, enthusiastically supporting the team. b. Project Manager (PM) Develops the project plan, ensures it is executed with appropriate changes as needed, and turns over the project when it is complete. May have responsibility for a project's success but often lacks full authority over resources. Strong interpersonal skills are crucial to being a successful project manager. c. Project Team Works with the project manager to develop plans, monitor the project, acquire resources, and perform project work. May also handle performing the project's work. The success or failure of a project often depends on how well the team collaborates. d. Subject Matter Expert Team members with specialized knowledge or skills about a particular function or product. Business analysts ensure project outcomes meet needs effectively. Project Management Final Exam Review 2  1.6 The Project Manager 1. What are the three main categories of knowledge and skills a project manager needs to be successful? a. Technical project management knowledge b. Leadership and interpersonal skills c. Strategic and business management skills 2. Fill in the blanks below. a. The three aspects of technical knowledge include application-area, industry, and approaches knowledge. b. Standards are the guidelines, or preferred approaches that are not necessarily mandatory. c. Regulations are the mandatory rules that must be followed, such as government-imposed requirements through laws. d. Application-area knowledge includes industry, discipline, or department-specific knowledge and processes that are relevant to a specific context. 1. Fill in the blanks below. Internal organizational factors: Includes the organization’s culture, structure, people, and processes. External organizational factors: Includes the environment in which the organization operates. 1. Examples of internal organizational factors: Culture: Shared values, communication norms, leadership style. Structure: Hierarchy, reporting relationships, decision-making processes. Infrastructure: IT systems, facilities, tools. 1. Six facets of the external organizational environment (PESTLE): Political: Government policies, stability. Economic: Market trends, inflation, economic stability. Social: Cultural trends, workforce demographics. Technological: Innovations, disruptions. Legal: Regulations, labor laws. Environmental: Sustainability, climate concerns. 1. Why is it necessary for project managers to have strong general management skills? To effectively handle diverse challenges, ensure resources are aligned, and foster teamwork while achieving organizational goals. 1. Why is it important for project managers to have a strong understanding of strategic business? To align projects with organizational objectives, make informed decisions, and deliver value beyond just project outcomes. 1. Power skills necessary for successful project managers: Communication Leadership Negotiation Critical thinking Conflict resolution Chapter 2: Projects and Organizational Strategy 2.3 Value Creation and Strategic Alignment 1. Fill in the blanks to complete the following statements: 1. Organizations exist to fulfill a purpose, expressed in an organization’s mission statement. 2. The vision statement is broad and describes what the leaders want the organization to accomplish. Project Management Final Exam Review 3  3. The mission statement is more specific, describing how the organization will fulfill its vision. 4. Successful organizations analyze the internal and external environments in which they operate. 5. An organization must also analyze and work with its strengths and weaknesses. 6. Projects are one approach that organizations take to operationalize strategy. 2. Match the term with the appropriate definition: 1. E - A temporary endeavor that is undertaken to create a unique product, service, or result. 2. C - Sets of coordinated projects that usually share something in common. 3. A - A set of initiatives, including projects, programs, and operational activities that a company enacts to achieve organizational strategies and objectives. 4. D - The application of knowledge, skills, tools, and techniques applied to project activities to meet the project requirements. 5. F - The process of managing coordinated projects to reduce project conflict and efficiently utilize organizational resources. 6. B - The alignment of proposed initiatives to an organization’s strategic goals. 3. Fill in the blanks to complete the following statements: 1. Project success focuses on the outcomes of the project. 2. Project management success focuses on the processes of the project. 3. Project success involves acceptance by the project’s key stakeholders. 4. Project management success involves acceptance by the project’s sponsor. 4. Indicate if the items below are possible reasons for project or project management failure: Factor Project Project Management Competitive disadvantage ❌ ❌ Decreased profitability ❌ ❌ Excessive cost and duration ❌ ✓ Inadequate project planning ❌ ✓ Inadequate rationale, objectives, tasks, and goals ✓ ❌ Insufficient resources ❌ ✓ Lack of commitment to the project ✓ ✓ Lack of support from top management ✓ ✓ Lack or misuse of project management techniques ✓ ✓ Politics and conflicts ✓ ✓ Poor communications ✓ ✓ Unqualified or inexperienced project manager ✓ ✓ Unrealistic goals ✓ ✓ 5. Complete the table below comparing the four types of initiatives: Characteristic Project Program Portfolio Product Duration Temporary Longer-term Ongoing Continuous Scope Defined and limited Broader, interrelated Strategic goals Specific market/service Change Specific deliverable Coordinated changes Organizational strategy Evolves with the market Success Deliverables met Benefits realized Strategic alignment Market success Funding Project-based Allocated across projects Allocated across programs Business-driven 2.4 Organizational Structures and Project Governance 6. Fill in the blanks to complete the following statements: Project Management Final Exam Review 4  A. Organizational structure refers to how various tasks are divided, resources are deployed, and how units or departments are coordinated in an organization. B. The right to make decisions, issue orders, and allocate resources is called authority. C. The degree to which a project team member can be depended on to ensure the project’s success is reliability. D. An obligation incurred by individuals in their roles in the formal organization to effectively perform assignments is known as responsibility. E. The extent to which an individual or project team is answerable to the project stakeholders is called accountability. F. Delegation is the act of giving authority and responsibility to lower levels of the organization. G. Authority and responsibility usually rest with individuals. 7. Define the three main types of organizational structures: Organization Type Definition Teams organized by department or function, with project work managed Functional within the function. Teams dedicated to projects with the project manager having full Projectized authority over resources. Combines functional and projectized elements, with shared authority Matrix between functional and project managers. 8. Identify the three types of matrix organizations and indicate the relationship between the project manager and the functional manager in each type: Organization Type Relationship Between Project Manager and Functional Manager Weak Matrix Functional manager has more authority than the project manager. Authority is equally shared between the functional and project Balanced Matrix managers. Strong Matrix Project manager has more authority than the functional manager. 9. What are the benefits of a matrix organization over a functional organization? Efficient resource utilization across multiple projects. Flexibility in staffing and expertise sharing. Improved communication and collaboration between departments. 10. What is a dedicated project team, and how does this improve the effectiveness of projects in organizations? A dedicated project team consists of members who are solely assigned to work on a specific project. This improves effectiveness by: Enhancing focus and productivity. Reducing resource conflicts. Improving accountability and collaboration within the team. 11. Compare the project manager’s role across the five organizational structures: Organization Type PM Authority Budget Control Resource Availability Functional Limited Controlled by function Minimal Weak Matrix Low Shared Limited Balanced Matrix Moderate Shared Moderate Strong Matrix High Shared High Projectized Full Full Full 12. List the six typical objectives of a project management office: 1. Develop and maintain project management standards. Project Management Final Exam Review 5  2. Provide governance and oversight for projects. 3. Align projects with organizational strategy. 4. Provide training and support to project managers. 5. Improve resource utilization across projects. 6. Centralize documentation and knowledge sharing. Chapter 3: Approaches to Delivering Project Outcomes 3.3 Project Management in Multiple Contexts 1. Fill in the blanks with the correct term: Every organization is different, with its own business strategy, culture, processes, and measures of success. Organizational differences require project managers to tailor, or customize, the project management approaches and processes to work within the organization’s unique environment. 2. Identify and describe the four steps in the tailoring process: Step 1: Understand the organizational environment, including strategy, culture, and processes. Step 2: Evaluate the project’s specific needs and characteristics. Step 3: Adjust project management approaches and tools to align with organizational and project-specific factors. Step 4: Implement tailored approaches while monitoring and refining as needed. 3.4 Development Approaches 1. Match the definition to the correct term: 1. Adaptive approach (C): Delivery of project outcomes with frequent feedback loops. 2. Development approach (A): A method used to create and evolve the product, service, or result during the project life cycle. 3. Hybrid approach (F): An approach that balances the need for up-front planning with scheduled delivery of features and functionality. 4. Incremental development (E): Delivery of project outcomes with progressively more features and functionality. 5. Iterative development (D): A method where there are numerous cycles of definition, creation, evaluation, and adjustment to deliver project outcomes. 6. Predictive approach (B): A method of defining the requirements of the project outcomes as comprehensively as possible before beginning to produce them. 2. Write each factor to consider when determining a development approach in the appropriate box: Project Outcomes: Innovation, Safety & Regulations, Scope, Requirements. Project Processes: Risk, Schedule, Change, Capability. Organization: Culture, Stakeholder, Structure, Delivery Options. 3. Describe an adaptive project based on product characteristics: Adaptive projects focus on evolving requirements, frequent iterations, and high levels of stakeholder involvement. They deliver value incrementally and prioritize responding to change over following a rigid plan. 4. What type of project approach would you suggest based on the following characteristics? Adaptive: Project stakeholders are highly involved. The requirements are not well understood. Predictive: Several safety requirements must be satisfied. The funding is guaranteed for the life of the project. Project Management Final Exam Review 6  The deadline for final delivery must be met. 5. Describe an organization that is ideally suited to adaptive development approaches: An organization that thrives on innovation, operates in rapidly changing markets, and values collaboration and flexibility. Such organizations often work in technology, software, or creative industries where stakeholder feedback is critical. 3.5 Project Life Cycles 1. Match the definition to the correct term: 1. Life cycle (D): The structure and flow of project work that occurs as the project moves from start to finish. 2. Phase (B): A grouping of similar activities that has a very loosely defined beginning and end. 3. Phase-Gate Review (C): Checkpoints that may be used to confirm that the work to be performed in each phase has successfully been completed. 4. Agile (A): A broad term to describe adaptive project management techniques. 2. Define the five process groups listed below: Initiating: Defines the project, secures approval, and authorizes the start. Planning: Develops detailed strategies, schedules, and budgets for achieving project objectives. Executing: Implements the project plan, coordinates resources, and performs the work. Monitoring & Controlling: Tracks performance, compares it to the baseline, and makes necessary adjustments. Closing: Finalizes all activities, obtains acceptance of deliverables, and formally ends the project. 3.6 Aligning Approach, Cadence, and Life Cycle 1. Complete the following table by describing each of the four life cycles introduced in this section: Life Cycle Delivery Cadence Phases Example Predictive - Single Delivery At project completion Sequential and predefined Construction of a bridge Iterative - Multiple Deliveries Flexible intervals Cycles of definition and refinement Research and development Incremental - Multiple Deliveries Frequent with added functionality Building progressively complete features Software updates Adaptive - Periodic Deliveries Regular iterations Short cycles with feedback loops Mobile app development 1. What are the differences between development approaches and project life cycles? Development Approaches: Focus on how the deliverables are created and refined (e.g., predictive, adaptive, hybrid). Project Life Cycles: Define the structure and sequence of work phases (e.g., initiating, planning, executing). 1. Design a project life cycle for a fundraising event for the local humane society and explain why you designed it this way: Initiating: Define event goals, secure approval, and recruit team members. Planning: Develop a schedule, budget, marketing plan, and resource requirements. Executing: Host the event, manage logistics, and engage participants. Monitoring & Controlling: Track attendance, budget adherence, and real-time adjustments. Closing: Collect feedback, report outcomes, and recognize volunteers. Explanation: This design ensures clear deliverables, tracks progress, and incorporates stakeholder feedback at each stage. 1. What are the benefits of agile, and when would you not want to use agile approaches on a project? Benefits: Encourages adaptability, stakeholder collaboration, and faster delivery of value. When Not to Use: When requirements are fixed, safety regulations are critical, or high levels of documentation and predictability are required. 3.7 Delivering Project Value 1. Complete the diagram below and define the terms in the blanks: Document Scope: Requirements. Project Management Final Exam Review 7  Ensure Quality: Prevention, Appraisal, Correction. Deliverables: Final outcomes aligned with objectives. 1. Match the definition with the correct term: 1. Acceptance criteria (C): High-level statements of what the deliverable is expected to accomplish, do, behave, or be before it is determined ready to use. 2. Technical performance expectations (B): The parameters in which a deliverable is expected to behave or function. 3. Definition of done (A): Includes a checklist of all criteria that must be met by a deliverable before it is considered ready for use. Chapter 4: Project Identification and Selection 4.3 Aligning Projects with Strategy 1. What four organizational documents can help confirm that the project’s identified needs and objectives are appropriate? Vision Statement Mission Statement Strategic Plan Balanced Scorecard 4.4 Types of Projects 1. Fill in the blanks to complete the following statements: Strategic projects involve creating something new and innovative. Operational projects improve current operations. Compliance projects must be done to comply with industry or governmental regulations or standards. 4.5 Cost of Projects 1. Match the term with the correct definition: 1. Direct Cost: D. The cost directly associated with the project. 2. Indirect Cost: F. The cost associated with insurance and management labor. 3. Opportunity Cost: C. The cost of not doing a project. 4. Project Costs: E. The cost associated with materials, labor, and equipment. 5. Sunk Cost: B. The cost put into a project that cannot be recovered. 6. Total Cost of Ownership: A. The initial cost of an item and the cost to operate and maintain. 4.6 Selecting Projects 1. Fill in the blanks to complete the following statements: Qualitative scoring methods for project selection are non-financial assessments of project alignment with the organization’s strategy. Success criteria are measurable indicators of success and may also be called “critical success factors.” Economic scoring methods are financial assessments of the ability of the project to help the bottom line, either by increasing profits or reducing costs. Constrained Optimization Methods of project selection are mathematically intensive means of analyzing a series of projects and are not easily generalized. Bandwagon Effect is a cognitive bias that causes people to adopt a belief because a significant number of people already hold that belief; in projects, the belief may be in the group’s best interest but ignores important facts about the project’s viability. 2. What are the advantages and disadvantages of a simple checklist? Advantages: Easy to use, quick to implement, and ensures alignment with basic requirements. Project Management Final Exam Review 8  Disadvantages: Overly simplistic, lacks depth, and does not weigh or prioritize criteria. 3. What are the three steps of completing a weighted scoring model? Identify the critical success factors. Assign weights to each success factor based on importance. Score each project against the success factors and calculate the weighted total. 4. What is the purpose of adding weights to critical success factors when using the weighted scoring model? Weights allow the prioritization of success factors based on their relative importance to organizational strategy, ensuring more critical factors have a greater impact on the decision-making process. 5. List the nine practical tips a project manager can take to ensure appropriate project selection: Align projects with organizational strategy. Use clear and measurable criteria. Involve stakeholders in the decision-making process. Assess resource availability. Evaluate risks and uncertainties. Consider the project’s return on investment. Avoid biases like the bandwagon effect. Use structured decision-making tools like weighted scoring models. Monitor and review project selection processes regularly. 6. Match the term with the correct definition: 1. Payback Period: A. Shows the time it will take to recover our investment in the project but doesn’t account for the time value of money. A lower number is better. 2. Net Present Value (NPV): B. Accounts for the time value of money and is expressed as a dollar figure. Higher values are better. 3. Internal Rate of Return (IRR): C. Accounts for the time value of money and is expressed as a percentage. Higher percentages are better. It doesn’t express the project return’s magnitude (amount of dollars). 4. Benefit-Cost Ratio (BCR): D. Accounts for the time value of money and is expressed as a ratio. Higher numbers are better. It doesn’t express the project return’s magnitude (amount of dollars). Balanced Scorecard Activity 1. Activity: A. Using the balanced scorecard above, identify three potential projects the company might want to complete over the next two years. 1. Develop a new premium smartphone model with cutting-edge features. Supports strategy by aligning with innovation and increasing smartphone sales. 2. Create a customer loyalty program to enhance brand loyalty. Aligns with the objective of building customer retention and loyalty. 3. Implement sustainable manufacturing practices. Supports the goal of reducing production waste and meeting environmental targets. B. Identify and describe three success criteria the company might use to evaluate which projects to select: Customer Impact: Improves customer experience and satisfaction (Weight: 40%). Profitability: Increases revenue or reduces costs significantly (Weight: 35%). Sustainability: Aligns with environmental and social goals (Weight: 25%). C. Create a weighted scoring model: Criteria Weight Project 1 Score Project 1 Value Project 2 Score Project 2 Value Project 3 Score Project 3 Value Project Management Final Exam Review 9  Customer 40% 4 1.6 5 2.0 3 1.2 Impact Profitability 35% 3 1.05 4 1.4 4 1.4 Sustainability 25% 2 0.5 3 0.75 5 1.25 Total 100% 3.15 4.15 3.85 D. Select a project based on the weighted scoring model results and explain how this project satisfies the three success criteria: Project 2 (Customer Loyalty Program) scores the highest (4.15). It aligns with customer impact by enhancing brand loyalty, improves profitability by increasing repeat purchases, and moderately supports sustainability through reduced waste in marketing materials. 1. What are the nine red flags that often signal a poorly conceived project? Lack of alignment with organizational strategy. Vague or unclear objectives. Insufficient stakeholder involvement. Unrealistic goals or timelines. Lack of dedicated resources. Ignoring risks or uncertainties. Poorly defined success criteria. Biased or unstructured decision-making processes. Overestimation of benefits or underestimation of costs. This summary captures the key concepts and activities in Chapter 4, focusing on project identification, alignment, costs, and selection processes. Chapter 5: Chartering Projects 5.3 Defining the Project 1. Compare and contrast the function of a business case with the function of a feasibility study. Business Case: Provides the justification for undertaking a project. It focuses on the benefits, risks, costs, and alignment with organizational goals. Feasibility Study: Evaluates the practicality of the project. It focuses on technical, financial, operational, and schedule feasibility to determine if the project can be successfully executed. 2. When do projects typically get chartered? Projects are typically chartered during the initiation phase, after the business case has been approved and a decision has been made to allocate resources to the project. 5.4 Developing SMART Project Goals 3. Describe SMART goals using the acronym S-M-A-R-T and explain the meaning of each criterion. Criterion Meaning S Specific: Clearly defines what is to be achieved. Measurable: Provides criteria for measuring progress and M success. A Achievable: Ensures the goal is realistic and attainable. Relevant: Aligns with broader organizational objectives and R priorities. T Time-Bound: Includes a clear deadline for completion. Project Management Final Exam Review 10  5.5 The Project Charter 4. What is a project charter? Why and how is it used? Definition: A project charter is a formal document that authorizes a project, providing the project manager with the authority to use organizational resources for project activities. Purpose: It serves as the foundation for project planning, defining the project’s objectives, scope, stakeholders, and key constraints. Use: It aligns stakeholders, defines project expectations, and provides a framework for decision-making. 5. What are the 10 common sections of a project charter? Briefly describe what information belongs in each section. Section Contents Project Title Name of the project. Purpose The reason for the project and its alignment with organizational goals. Objectives Specific and measurable outcomes the project aims to achieve. Scope Defines what is included and excluded from the project. Stakeholders Key individuals and groups affected by or involved in the project. Deliverables Tangible outputs or results expected from the project. Assumptions Statements accepted as true for project planning purposes. Constraints Limitations such as budget, time, or resources. Risks Potential challenges or issues that may impact the project. Authorization Formal approval by the project sponsor, granting authority to proceed. 6. What is the difference between an assumption and a constraint? Assumption: Something considered true for planning purposes but not guaranteed. Constraint: A limitation or restriction that directly impacts the project’s scope, schedule, or budget. 5.6 Ensuring Business Needs are Met 7. What is business analysis, and why is it useful? Definition: Business analysis involves identifying business needs and determining solutions to problems. Purpose: Ensures that the project outcomes meet organizational goals and stakeholder requirements. 8. What does a business analyst do? A business analyst identifies business needs, gathers and analyzes requirements, communicates with stakeholders, and ensures project deliverables align with business objectives. 5.7 Project Communications 9. Match the term with the correct definition. Term Definition Teams that use electronic methods of communicating without face-to- 1. Virtual teams face meetings. Defining the types of information you will deliver, who will receive it, 2. Communications planning the format for communicating it, and the timing of its release and distribution. 3. Communication media The way project information is shared. 4. Push The act of sending information. Getting the information needed through accessing an online 5. Pull dashboard. Project Management Final Exam Review 11  All the parties to the communication are participating in the exchange 6. Synchronous simultaneously. 7. Asynchronous The parties do not have to be present simultaneously to communicate. 10. Fill in the blanks with the correct term. Teams that use electronic communication methods without face-to-face meetings are called virtual teams. Communications planning involves defining the types of information you will deliver, who will receive it, the format for communicating it, and the timing of its release and distribution. Communication media describes the way that project information is shared. A communications plan is a document that lists all communications a project manager will deliver as part of managing a project. 11. What is the difference between the push and pull of information? Push: Information is sent directly to stakeholders. Pull: Stakeholders access information themselves, typically from a centralized source. 12. What are the differences between synchronous and asynchronous communication? Synchronous: Real-time communication (e.g., video calls, meetings). Asynchronous: Communication that does not require simultaneous participation (e.g., emails, recorded messages). 13. How does corporate culture influence project communications? Corporate culture shapes communication styles, preferences for formality, and the tools or channels used for communication. 14. What are the main components of a communications plan? What questions need to be asked when completing a communications plan? Component Purpose (Question addressed) Audience Who needs the information? Information What information is needed? Method How will the information be delivered? Frequency How often will information be shared? Responsibility Who is responsible for creating and delivering the information? 15. What are the three main types of team meetings? How are they different from one another? Meeting Type Similarities and Differences Status Meetings Focus on project progress and issues. Planning Meetings Used to develop and refine project plans. Review Meetings Evaluate project deliverables and address feedback. 16. Complete a communications plan for a semester-long student team project. Identify and describe three types of communication you would use. Communication Type Method Frequency Goal and Content Audience Status Updates Emails Weekly Share project progress and highlight issues. Team Members Team Meetings Virtual Meetings Bi-weekly Discuss tasks, goals, and resolve challenges. Team Members Final Presentation Live Presentation End of Semester Summarize project outcomes and lessons learned. Faculty/Stakeholders Chapter 6: Working with Project Stakeholders 6.3 Identifying Project Stakeholders 1. Fill in the blanks with the correct term. A project stakeholder is anyone interested in a project who can affect or be affected by the project processes or outcomes. Project Management Final Exam Review 12  A stakeholder management plan is a guide that tells the project manager how to identify, manage, and engage project stakeholders. A stakeholder register is used to identify and track the interactions between the project and each stakeholder. 2. Name three stakeholders you would interact with if you were to host a movie night at school and explain why those are stakeholders. 1. Students – They are the audience attending the event and will determine its success. 2. Teachers/Administration – They approve and support the event by providing the venue and ensuring compliance with school policies. 3. Vendors – They supply items such as snacks or equipment needed for the movie night. 3. Define each type of stakeholder and identify if they are internal or external to the organization. Internal or Type of Stakeholder Definition & Example External Individual or group providing financial resources and support for the project. Example: Project Sponsor Internal School Principal. High-level executives ensuring alignment with organizational strategy. Example: Top Management Internal Superintendent. Your Manager The direct supervisor who oversees your work. Example: Club Coordinator. Internal Your Peers Team members or colleagues collaborating on the project. Example: Club Members. Internal Resource Managers Individuals managing resources, like facilities or staff. Example: Facilities Manager. Internal Internal Customers Individuals within the organization benefiting from the project. Example: Students. Internal The group responsible for planning and executing the project. Example: Student The Project Team Internal Volunteers. Individuals outside the organization benefiting from the project. Example: Parents External Customers External attending the event. Government and Regulatory Authorities ensuring compliance with rules and regulations. Example: Local Fire External Bodies Department. Contractors External parties hired to perform specific tasks. Example: Audio-Visual Technician. External Suppliers and Vendors Entities providing materials or services for the project. Example: Snack Supplier. External 4. What issues do you need to consider when working with the following stakeholders? Stakeholder Group Issues to Consider Top Management Alignment with organizational goals, clear communication, and availability of resources. Resource Managers Ensuring resources are allocated appropriately and conflicts in resource allocation are resolved. Customers Understanding and meeting expectations, ensuring satisfaction, and maintaining open communication. Contractors Clarity in scope of work, timely delivery, and adherence to quality standards. 6.4 Managing Project Stakeholders 5. What is stakeholder analysis, and why is it important? Stakeholder analysis is the process of identifying stakeholders, assessing their influence and interests, and determining the best way to engage and communicate with them. It is important because it helps ensure stakeholders’ needs and expectations are met, minimizes conflicts, and enhances project success. 6. Match the information included in a stakeholder register with the question it addresses. Question Addressed Information Included A. What identifying information about this stakeholder do we need to know? Stakeholder Name and Role B. How important are they to the project? Power (Low – Med – High) C. What do they want to know about the project? Stakeholder Needs D. What do you want or need from them? Project Needs Project Management Final Exam Review 13  E. What do they want or need from you or the project? Stakeholder Needs F. How could the stakeholder block your effort? Potential Blockers G. What is your strategy for enhancing their support? Engagement Strategy 7. Compare the four categories of stakeholders based on stakeholder mapping. Stakeholder Category Description Possible Engagement Strategies High Power, High Critical stakeholders with significant influence and Regular updates, one-on-one meetings, and active Interest involvement. involvement. High Power, Low Influential but not deeply involved in day-to-day project Provide periodic updates and involve them in key Interest activities. decisions. Low Power, High Interested but with little influence over the project. Regular updates and seek feedback. Interest Low Power, Low Stakeholders with minimal influence and interest. Provide general information to keep them informed. Interest 8. Complete a stakeholder analysis for a surprise birthday party for your great Aunt Mabel. Stakeholder Stakeholder #1: Aunt Mabel’s Friend Stakeholder #2: Family Caterer Stakeholder #3: Venue Manager Power (Low – Med – High) Medium High High Interest (Low – Med – High Medium Medium High) Project’s Needs Guest list and preferences Timely food delivery Venue preparation Advance payment and clear Stakeholder’s Needs To enjoy the party Clear menu and schedule timeline Potential Blockers Miscommunication on guest preferences Delay in food delivery Double-booking the venue Regular updates and direct Contract details and weekly check- Early confirmations and Engagement Strategy communication ins inspections Chapter 7: Chapter 7: Identifying Project Outcomes 7.3 An Overview of Project Planning 1. Assign the following terms to each focus area of the project planning phase: Scope: Project Scope & Deliverables, Requirements Schedule: Activities, Relationships Budget: Activity-Related Costs, Other Project Costs, Reserves Resources: Resources, Responsibilities 7.4 Identifying Project Scope 1. Fill in the blanks with the correct term: Gold Plating occurs when the project team members add additional features, services, or products to the project scope. Project Scope defines the characteristics of the outcomes of a project and includes work that is done within the boundaries of the project. Scope Creep happens when product or project deliverables grow in feature, functionality, or type without a corresponding adjustment to the schedule, budget, and use of resources. 2. List the nine sections of a baseline scope statement: Project Objective Deliverables Milestones Technical Requirements Limits and Exclusions Risks Project Management Final Exam Review 14  Customer Acceptance Criteria Assumptions Constraints 3. What important information should a well-written project scope statement include? A clear definition of the project’s objectives Specific deliverables and milestones Technical requirements Defined boundaries, including limits and exclusions Assumptions, constraints, and identified risks 4. What is a deliverable? A deliverable is any tangible or intangible outcome, product, or result that is produced as part of a project and provided to stakeholders. 5. What is the difference between product and project deliverables? Which type do the end users care more about? Which type does the project team care more about? Why? Product Deliverables: Tangible outcomes such as goods or services delivered to end users. End users care more about these because they fulfill their needs. Project Deliverables: Activities and outputs required to complete the project (e.g., reports, plans). The project team cares more about these because they ensure the project’s successful completion. 6. Create a work breakdown structure (WBS) for Aunt Mabel’s birthday party with three major deliverables and two sub- deliverables for each: Venue Preparation: Reserve venue Decorate venue Guest Management: Send invitations Confirm RSVP Catering: Select menu Arrange cake delivery 7. What is the 100 percent rule? The 100 percent rule states that the work breakdown structure must include 100 percent of the work defined by the project scope, ensuring nothing is overlooked. 8. Select the correct definition for “WBS dictionary”: c) Includes information about the source of the deliverables, known requirements, assumptions, and constraints about the deliverable, and any other information the project manager may need to further plan the project. 9. Match the term to the correct definition: 1. decomposition: C. Breaking down a complicated deliverable into smaller deliverables until it can no longer be subdivided 2. major deliverable: A. Top-level deliverables that satisfy project scope 3. sub-deliverable: B. Deliverables identified through the process of breaking down complicated deliverables into smaller deliverables 1. What is a requirements traceability matrix, and how is it used? A requirements traceability matrix is a document that tracks each project requirement throughout the project life cycle, linking them to deliverables to ensure that they are fulfilled. 1. Match the information found in a RACI chart with the level of responsibility toward a deliverable: Project Management Final Exam Review 15  1. Responsible: B. indicates who does the work to produce the deliverable 2. Accountable: D. indicates who has final authority over the activity to ensure it was produced appropriately; only one person assigned 3. Consulted: A. indicates individuals who provide information about the deliverable 4. Informed: C. indicates who is informed after the activity is completed, often because his or her own work depends on it 7.5 Project Requirements 1. What is a requirement, and how are requirements identified? A requirement is a condition or capability that a project must meet. Requirements are identified through stakeholder interviews, workshops, document reviews, and surveys. 1. Define the six basic categories of project requirements and give an example for each: Type of Requirement Definition Example Functional Defines what the system or product must do Generate monthly reports Non-Functional Specifies how the system or product performs Load time must be under 3 seconds Technical Specifies technology or systems used Use a cloud-based database Business Aligns with organizational goals Increase market share by 5% User Addresses user needs Intuitive user interface Regulatory Ensures compliance with laws and standards Adhere to GDPR guidelines 1. Why is it important to take time to specify requirements? Specifying requirements ensures that the project outcomes align with stakeholder needs, reduces the risk of scope creep, and provides a clear basis for project planning and execution. Chapter 8: Scheduling Project Work 8.3 Identifying Activities 1. Match the term with the correct definition: 1. Milestone: A. Establishes key dates throughout the life of a project that must be met for the project to finish on time. 2. Activity definition process: B. Documents the specific activities needed to produce the deliverables detailed in the WBS. 3. Activity list: D. Includes all the activities that must be accomplished to deliver each work package, plus everything else that needs to be done to complete the project. 4. Activity attributes: E. Description of the work, relationships, constraints, assumptions, and other important information you may need as you plan the project. 5. Rolling-wave planning: F. Schedule only the portion that you know enough about at the current time. 6. Quality planning: C. Focuses on taking all the information available to you at the beginning of the project and figuring out how you will measure quality and prevent defects. 8.4 Assigning Resources 1. Choose the correct definition for “Resources” and give an example: Definition: Resources are C. People, equipment, physical locations, money, or anything else that you need to complete the activities for which you are planning. Example: A computer for a software development project. 2. Define the four approaches to estimating activity resources: Expert Judgment: Involves using the expertise of experienced team members or stakeholders to determine the resources needed. Alternative Analysis: Compares multiple methods to determine the best way to allocate resources. Published Data: Uses data from industry standards or similar past projects to estimate resources. Project Management Software: Leverages tools to calculate resource needs based on project parameters. Project Management Final Exam Review 16  8.5 Estimating Activity Duration and Effort 1. Match the term with its definition: Parametric estimating: Plugging data about your project into a formula or software program that calculates estimates based on historical data. Reserve analysis: Adding extra time (buffer) to account for potential risks. Three-point estimating: Calculating duration using a weighted average of the most likely, optimistic, and pessimistic estimates. Analogous estimating: Looking at similar activities from previous projects to estimate duration. Expert judgment: Relying on input from project team members familiar with the work to provide estimates. 2. Compare and contrast duration and effort: Duration: Refers to the total time required to complete an activity, including waiting times. Effort: Refers to the actual amount of work time needed to complete the activity. When to use: Duration is used for schedule planning, while effort is used for resource allocation. 3. Example of an activity with different duration and effort: Example: Painting a wall may require 4 hours of effort but take 8 hours in duration due to drying time. 8.6 Mapping Relationships Between Activities 1. Fill in the blanks: Predecessor: Relationships occur between activities that must occur in a particular order. Network diagram: Represents the logical sequence of the activities needed to complete the project. Critical path: Is the longest path to the completion of the project. 2. Activity-on-Arrow and Activity-on-Node Network Diagrams: Activity-on-Arrow (AOA) Advantages: Highlights dependencies; simple to understand. Disadvantages: Cannot represent loops; limited to one dependency type. Activity-on-Node (AON) Advantages: More versatile; can show multiple dependencies. Disadvantages: More complex to create; harder to visualize quickly. 3. Critical path and project duration: Critical Path: A → C → E → G Project Duration: 18 weeks 4. What does the critical path tell you about the project? The critical path identifies the sequence of tasks that determines the project’s minimum duration. Delays in these tasks will delay the entire project. 5. Type of relationships in the network diagram: FS (Finish-to-Start): A → B SS (Start-to-Start): C → D FF (Finish-to-Finish): D → E 6. Mandatory vs. Discretionary Predecessors: Mandatory: Required by the nature of work (e.g., pouring concrete before constructing walls). Discretionary: Based on best practices (e.g., conducting training before implementation). 7. Match the term with its definition: Project Management Final Exam Review 17  1. Early Finish: D. The earliest time an activity can finish based on predecessor relationships. 2. Early Start: A. The earliest time an activity can start based on predecessor relationships. 3. Late Finish: E. The latest time an activity can finish based on successor relationships. 4. Late Start: B. The latest time an activity can start based on successor relationships. 5. Slack: C. The difference between an activity’s early start and late start. 8.7 Building Quality into the Schedule 1. Definition of quality planning: Quality planning focuses on identifying quality standards relevant to the project and planning how to meet them. It is completed during the planning phase. 8.8 Creating a Project Schedule 1. Fill in the image with the correct terms: Decompose deliverables to work packages Identify the deliverables Define the deliverables Estimate the project schedule Determine the project schedule Identify the project objectives 2. Match the term with its definition: 1. Project schedule: E. Used by the project manager during production phases to monitor project work and ensure the project stays on schedule. 2. Milestones: A. Activities with zero duration and effort that show target dates for completing various aspects of the project work. 3. Gantt chart: F. Visual time-based chart for illustration of the project schedule. 4. Lead time: D. Time allotted to a successor task to allow it to start before the predecessor finishes. 5. Lag time: B. An intentional delay between the predecessor task and the successor. 6. Schedule baseline: C. Displays activity durations, resources, and how activities are linked and planned across time. 8.9 Optimizing the Project Plan 1. Fill in the blanks: Schedule optimization: Occurs when the project manager and team take a critical look at the draft schedule to improve it. Resource leveling: Adjusts unbalanced resources over time to resolve over-allocations or conflicts. Crashing: Involves applying additional resources to a task along the critical path at the lowest incremental cost. Fast-tracking: Refers to starting tasks in parallel that are normally done sequentially. 2. Eligible activities for crashing: 1: Are on the critical path. 3: Are the least expensive to crash. 3. Crashing Exercise: A. Critical Path Duration: 13 weeks B. Total Direct Costs: $12,700 C. Maximum Crashing: Stop crashing when all critical paths are shortened and further crashing increases costs disproportionately. 4. When is resource leveling used? Project Management Final Exam Review 18  Resource leveling is used to resolve over-allocation and ensure that resources are evenly distributed over the project timeline. 5. Three estimates used in PERT time estimation: Optimistic Estimate: Best-case scenario. Pessimistic Estimate: Worst-case scenario. Most Likely Estimate: The most realistic scenario. Chapter 9: Budgeting Projects 9.3 Estimating Project Costs 1. Match the term with the correct definition Term Definition L. Calculation of overall project costs by estimating and totaling the 1. Aggregation individual activity costs. M. Used by the project manager during the production phases of the 2. Budget Baseline project to monitor project costs and ensure the project stays “on budget.” J. Money budgeted for dealing with unplanned but statistically 3. Contingency Reserves predictable cost increases. 4. Cost of Conformance G. The cost of good quality. 5. Cost of Nonconformance H. The cost of poor quality. F. The cost of all the prevention and inspection activities you are 6. Cost of Quality going to do on your project. K. Money made available at the sponsor’s discretion to meet needs 7. Management Reserves that would change the project scope. B. Refers to the cost of materials and supplies needed to complete 8. Materials-based Cost the activity. D. Relate to the expenses associated with outsourcing work or 9. Procurement Costs obtaining project materials from sources outside the organization. 10. Resource-based Cost A. Refers to the cost of human effort to complete an activity. 11. Rough Order-of-Magnitude Estimate C. Estimate early in the project without knowing much about it. 12. Reserve Analysis I. Determining how much money to set aside in case of cost overruns. E. Breaking down complex activities into pieces and working out the 13. Bottom-up Estimating cost for each component. 9.4 Developing the Baseline Budget 2. What is aggregation? Aggregation is the calculation of overall project costs by estimating and totaling the individual activity costs. This process involves summing up all activity costs to get a total cost for the project or project phases. 3. What is the budget baseline, and how is it used? The budget baseline is a time-phased plan that details the approved costs for project activities and serves as a reference point against which project performance is measured. It is used by project managers to monitor actual project expenses and ensure they align with the budget. 4. Time-phased Budget Calculation Data Table Work Package Planned Start Planned Finish Planned Cost A Week 1 Week 2 $8,000 B Week 1 Week 3 $18,000 Project Management Final Exam Review 19  C Week 2 Week 4 $6,900 D Week 3 Week 6 $20,000 E Week 5 Week 5 $4,000 Week-by-Week Planned Expenses Week Work Package Costs Total Costs Cumulative Total 1 A ($4,000), B ($6,000) $10,000 $10,000 2 A ($4,000), B ($6,000), C ($2,300) $12,300 $22,300 3 B ($6,000), C ($2,300), D ($5,000) $13,300 $35,600 4 C ($2,300), D ($5,000) $7,300 $42,900 5 D ($5,000), E ($4,000) $9,000 $51,900 6 D ($5,000) $5,000 $56,900 Results Total Planned Cost of the Project: $56,900 Total Cost Budgeted in Week 4: $7,300 Chapter 10: Documenting the Project Plan 10.3 Documenting Project Uncertainty 1. Define the following terms: Risk: An uncertain event or condition that, if it occurs, has a positive or negative impact on a project's objectives. Opportunity: A positive risk that can provide potential benefits to the project. Threat: A negative risk that can hinder or derail project objectives. Risk Management: The process of identifying, assessing, and controlling risks to minimize negative impacts and maximize positive outcomes. 2. Risk Register for a Graduation Party Risk ID Risk Description Likelihood Impact Risk Owner Response Plan R-001 Rain on the event day Likely High Event Planner Rent a tent as a backup R-002 Catering service delay Possible Medium Caterer Book an alternative vendor R-003 Equipment failure (audio) Unlikely High Technician Arrange spare equipment 3. Match the correct definition with each term: 1. Accept (E): Evaluate the risk and decide nothing will be done. 2. Avoid (C): Decide to take actions that eliminate the possibility of the risk event occurring. 3. Enhance (G): Either increase the impact of the event or the probability that it will occur. 4. Escalate (D): When a risk response falls outside the scope of a project or the authority of the PM. 5. Exploit (F): Actively look for the chance to take advantage of the situation. 6. Mitigate (A): Reduce the likelihood or impact of an event. 7. Share (H): Partner with another to take advantage of the risk. 8. Transfer (B): Shift the risk to another entity, usually at a fee, such as with an insurance policy. 4. Risk Assessment Matrix: Risk ID Likelihood (Probability) Impact (Severity) Risk Rating Potential Responses T-001 Frequent Critical High Implement preventive measures T-002 Seldom Catastrophic Medium Purchase insurance T-003 Occasional Negligible Low Accept the risk T-004 Unlikely Catastrophic Medium Develop contingency plans Project Management Final Exam Review 20  5. Example of a Negative Risk to Mitigate: Risk: Potential power outage during the event. Mitigation Plan: Arrange for a backup generator to ensure continuous power supply. Reason: This ensures the event continues smoothly without interruptions. 6. Why Identify Positive and Negative Risks: Identifying both ensures that opportunities are leveraged for project benefit and threats are managed to avoid potential setbacks. 10.4 Completing the Project Management Plan 1. Purpose of a Project Management Plan: The project management plan provides a roadmap for how the project will be executed, monitored, and controlled. It differs from a project schedule, which focuses specifically on timelines and task sequencing. 2. Contents of Each Section of the Project Management Plan: Scope Management Plan: Defines how the project scope will be planned, defined, validated, and controlled. Schedule & Budget Management Plan: Details the methods for planning, developing, and monitoring the schedule and budget. Stakeholder, Team, and Communication Management Plan: Outlines how stakeholders will be engaged, team dynamics managed, and communication handled. Risk Management Plan: Defines the approach to identifying, analyzing, and responding to project risks. Quality Management Plan: Specifies the quality requirements and standards for the project and deliverables. Procurement Management Plan: Identifies how resources will be acquired from external sources. Change Management Plan: Establishes how changes to the project scope, schedule, or budget will be managed. Scope, Schedule, and Budget Baselines: Serves as the approved versions of these elements, used to measure project progress. 3. Match the Definitions: 1. Cost reimbursable contracts (D): A type of contract where the seller charges you for the cost of doing the work plus some fee or rate. 2. Fixed price contracts (B): Have the lowest risk for the project because no matter how much time or effort the vendor expends, you always pay the same. 3. Make-or-buy analysis (A): Assists with determining whether you should be contracting the work or doing it yourself. 4. Time and materials contract (E): A type of contract where the client pays a rate for the time spent working on the project and pays for all the materials used to do the work. 5. Change management (C): A process that evaluates requested changes to a project for impact on the project’s objectives. Chapter 11: Managing and Measuring Project Work 11.3 Managing Project Work 1. What is change control? Change control is a structured process for managing and documenting changes to a project’s scope, schedule, budget, or deliverables during its lifecycle. 2. What is a change request? A change request is a formal proposal to modify any aspect of the project, such as scope, schedule, or budget. It must be assessed and approved before implementation. 3. What does a change control board do? A change control board (CCB) reviews, evaluates, approves, or rejects change requests to ensure that they align with the project's goals and constraints. Project Management Final Exam Review 21  4. Order of Change Control Activities: Step 1: Identify Step 2: Evaluate Step 3: Assess Step 4: Decide Step 5: Act 5. Matching Actions with Steps in Change Process: Document the requested change → Step 1: Identify Determine the impact to the project → Step 2: Evaluate Approve or reject the change → Step 3: Assess Implement the approved change → Step 4: Decide Evaluate the success of the change → Step 5: Act 6. Managing Key Project Areas: Project Resources: Allocate, monitor, and optimize the use of materials, personnel, and tools to achieve project objectives efficiently. Stakeholders: Maintain engagement and communication to align their expectations and manage feedback or conflicts. Risks: Continuously monitor and update the risk register, implement mitigation strategies, and ensure readiness for unforeseen issues. Project Team: Provide clear direction, maintain motivation, resolve conflicts, and ensure collaboration within the team. 7. Using the Stakeholder Register: During the production phase, the stakeholder register helps identify stakeholder needs, monitor engagement, and communicate updates to ensure alignment with project goals. 8. Using the Risk Register: The risk register is used to monitor risks, implement mitigation strategies, and document any new risks that arise during the production phase to minimize impact. Conflict Management Approaches 1. Six Approaches for Getting Agreement During Conflict: Competing: Assertive and uncooperative; prioritizing one’s own goals over others. Collaborating: Cooperative and assertive; finding a win-win solution. Compromising: Balancing assertiveness and cooperation; finding a mutually acceptable solution. Avoiding: Unassertive and uncooperative; not addressing the conflict directly. Accommodating: Cooperative and unassertive; prioritizing others’ needs over one’s own. Negotiating: Reaching a solution through mutual discussion and trade-offs. 2. Comparison of Conflict Management Approaches (Thomas-Kilmann vs. Whetton & Cameron): Similarities: Both emphasize the need for strategies that balance cooperation and assertiveness. Differences: Whetton & Cameron include a more structured negotiation process, whereas Thomas-Kilmann provides broader approaches to conflict resolution. 11.4 Quality Assurance and Control 1. Definitions of Key Terms: Risk: The possibility of an event that could positively or negatively impact project objectives. Opportunity: A positive risk that could benefit the project if seized. Threat: A negative risk that could hinder the project’s progress. Project Management Final Exam Review 22  Risk Management: The process of identifying, assessing, and controlling risks to minimize negative impacts and maximize opportunities. 1. Matching Terms to Definitions: Histogram: F. A type of column chart showing frequency of occurrences in categories. Pareto Chart: A. A chart displaying columns in decreasing order of magnitude. Quality Assurance: G. A process to ensure confidence in quality plans and controls. Quality Control: E. Processes to measure and sample outputs against requirements. Tolerance: D. The permissible range between limits of quality. Check Sheet: B. A form to document when problems occur. Control Limits: C. Minimum and maximum permissible quality values. 1. Histogram Data: Food Preferences: Cranberry Sauce: 6 Gravy: 4 Turkey: 7 Ham: 3 Green Bean Casserole: 2 Sweet Potato Casserole: 8 Pumpkin Pie: 5 Apple Pie: 5 What the histogram shows: A histogram would illustrate the popularity of each food item, helping to identify preferences like Sweet Potato Casserole (most popular) and Green Bean Casserole (least popular). 1. Difference Between Histogram and Pareto Chart: A histogram represents the frequency of occurrences across categories. A Pareto chart emphasizes the most significant factors by displaying data in descending order to focus on priority issues. Chapter 12: Working with Project Teams 12.3 Leading Project Teams 1. Fill in the blanks: A. Project managers aligned with Theory X believe employees generally avoid work, while those aligned with Theory Y believe team members put forth their best effort without close management. B. Team Leadership is a function of both the leader’s characteristics and the environment. One theory, Contingency Theory, refers to the ability of leaders to adapt their approach to the environment. C. Matching the appropriate Leadership Style and approach to the project’s needs is critical to project Success. D. Shared Leadership Style occurs when team members take responsibility for leading the team at different points during their work. 12.4 Leading Without Authority 1. Define power and influence: Power: The capacity to control resources and direct activities to achieve goals. Influence: The ability to persuade others to act in a certain way without direct authority. Similarity: Both involve directing actions or decisions. Difference: Power is authority-based; influence relies on persuasion and relationships. Project Management Final Exam Review 23  2. Types of Power: Legitimate Power: Derived from a formal position of authority. Example: A project manager assigning tasks as part of their role. Expert Power: Based on expertise or knowledge. Example: A PM resolving technical issues using their expertise. Reward Power: Based on the ability to give rewards. Example: Offering recognition for meeting deadlines. Coercive Power: Based on the ability to punish. Example: Removing team members who fail to perform. Referent Power: Derived from personal traits or relationships. Example: A PM gaining support through respect and likability. Informational Power: Based on access to valuable information. Example: Sharing key project updates with stakeholders. 3. Matching Influence Tactics to Definitions: Rational Persuasion: Using logical arguments and facts to convince. Consultation: Seeking others' input to foster collaboration. Inspirational Appeals: Leveraging values and emotions. Exchange: Offering something in return for support. Pressure: Applying urgency or demands. Ingratiation: Using flattery or creating goodwill. Legitimating Tactics: Relying on position or authority. 4. Three Potential Responses to Influence: Commitment: The influenced party agrees and fully supports the decision. Compliance: The party agrees but with minimal effort. Resistance: The party opposes and may obstruct the effort. 5. Directions of Influence: Upward Influence: Persuading superiors. Example: Convincing a sponsor to increase funding. Effective tactic: Rational persuasion. Downward Influence: Guiding subordinates. Example: Assigning tasks to team members. Effective tactic: Inspirational appeals. Peer Influence: Collaborating with colleagues. Example: Negotiating timelines with a team leader. Effective tactic: Personal appeals. 6. Difference Between Organizational Politics and Political Skill: Organizational Politics: Behaviors aimed at gaining personal advantage. Political Skill: The ability to navigate and influence relationships effectively. 7. Positive and Negative Consequences of Political Behavior: Positive: Improved collaboration, stakeholder engagement, and resource allocation. Negative: Mistrust, conflicts, and reduced team morale. 8. Scenario - Permit Approval: Influence Tactics: Use rational persuasion to explain past changes, ingratiation to rebuild goodwill with the Chamber member, and coalition tactics to gather support from other community members. 12.5 Developing High-Performing Project Teams 1. Characteristics of Teams: Shared Goals: Teams work toward common objectives. Interdependence: Team members rely on one another. Accountability: Members hold themselves and others responsible for outcomes. 1. Tuckman’s Stages of Team Development: Project Management Final Exam Review 24  Forming: Team members get acquainted. PM role: Set expectations and establish ground rules. Storming: Conflict arises as roles are determined. PM role: Mediate conflicts and align goals. Norming: Team establishes processes and roles. PM role: Foster collaboration and trust. Performing: Team works effectively toward goals. PM role: Monitor progress and provide support. Adjourning: Team disbands after project completion. PM role: Celebrate achievements and gather lessons learned. 1. Stages of Team Development Questions: Struggle for roles: Storming Most effective work: Performing Orientation to task and each other: Forming Development of processes and roles: Norming Collect lessons learned: Adjourning 1. Key Characteristics of Effective Teams: Clear Communication: Open and transparent discussions. Trust and Respect: Members rely on and value one another. Defined Roles: Responsibilities are clear and aligned with strengths. 1. Difference Between Trust and Trustworthiness: Trust: Confidence in someone’s reliability and integrity. Trustworthiness: The quality of being reliable and deserving of trust. 1. Rebuilding Trust: Steps to Rebuild: Acknowledge the breach, communicate openly, demonstrate reliability through actions, and provide opportunities for reconciliation. 1. Team-Building Exercises: Examples: Problem-solving tasks, team lunches, or collaborative games. Implementation in Business: Use icebreakers during initial meetings or conduct workshops to foster collaboration for a professional project. Chapter 13: Monitoring and Reporting Project Status 13.3 Earned Value Analysis 1. Define Earned Value Analysis: Earned Value Analysis (EVA) is a project management technique that integrates scope, schedule, and cost to assess project performance and progress. It is used during the monitoring and controlling phases to compare the planned progress to the actual work completed and costs incurred. 2. Match the Term with its Definition: 1. Actual Costs (AC): C 2. Budget at Completion (BAC): G 3. Cost Performance Index (CPI): E 4. Cost Variance (CV): A 5. Earned Value (EV): D 6. Planned Value (PV): H 7. Schedule Performance Index (SPI): F 8. Schedule Variance (SV): B 3. Earning Rules: Professional Estimation: Based on expert judgment to determine the percent complete. Project Management Final Exam Review 25  0/100 Rule: No credit until the work is fully complete. 50/50 Rule: Half of the credit is earned when work starts, and the other half is earned when completed. 25/75 Rule: 25% credit upon starting, and the remaining 75% upon completion. 20/80 Rule: 20% credit upon starting, and the remaining 80% upon completion. 4. Earned Value Terms: Actual Costs (AC): Known data from the accounting department. Budget at Completion (BAC): Known data from project plans. Cost Performance Index (CPI): Calculated as CPI = EV / AC. Cost Variance (CV): Calculated as CV = EV - AC. Earned Value (EV): Calculated as EV = % Complete × BAC. Estimate at Completion (EAC): Calculated as EAC = BAC / CPI. Estimate to Complete (ETC): Calculated as ETC = EAC - AC. Percent Complete Index-Budget (PCIB)