IT Project Management Midterm Answers Essays - Project Management

IT Project Management Midterm Answers Essays - Project Management IT Project Management Midterm Answers (b) The Matrix Organization. (b) Scope Management Plan. ( a ) Collect Requirements (b) Use Case Diagram (d) Milestone (d) A business case provides a project budget. (a) Slack (e) Critical Path Analysis (a ) Finish-to-Start (FS) (c) Sunk Costs (d) The value the completed project will provide to an organization. (b) Using technology to meet the needs of the business. (b) Is identifying the project phases and activities and estimating, sequencing , and assigning resources. (a) Signal the beginning of the project or phase. True Brief Answers: Scope, schedule, and budget must remain in a sort of equilibrium to support a part icular project goal. This rela tionship, sometimes referred to as the Triple Constraint. Project portfolio is a term that refers to an organization's group of projects and the process in which they are selected and managed. The project portfolio is strategically selected to advance the corporation's organizational goals. The Project life cycle(PLC) is a collection of logical stages or phases that maps the life of a project from its beginning to end. Each phase should provide one or more deliverables. During the first of these phases, the Initiation Phase , the project objective or need is identified; this can be a business problem or opportunity. An appropriate response to the need is documented in a business case with recommended solution options. A feasibility study is conducted to investigate whether each option addresses the project objective and a final recommended solution is determined. Issues of feasibility ("can we do the project?") and justification ("should we do the project?") are addressed. Yes, it can be considered successful if and only the customer is satisfied with the product . Selective outsourcing provides greater flexibility to choose which project or organizationalproducts and services should be outsourced and which should be kept internal. To avoid scope, creep, leap and grope. Failure to define and agree upon the MOV could result in scope changes later in the project, which can lead to added work impacting the project's schedule and budget. The procedures for defining and managing the scope of a project must be communicated and understood by all of the project's stakeholders to minimize the likelihood of misunderstanding. Moreover, the project's scope must align and support the project's MOV. Why spent time and resources to perform work that will not add any value to the organization of help the project achieve its MOV? Again, work that does not add value consumes valuable time and resources needlessly. Progressive elaboration allows a project management team to manage the project to a greater level of detail as it evolves. It involves continuously improving and detailing a plan as more detailed and specific information and more accurate estimates become available. It helps in achieving more accurate and complete plans that result from successive iterations of the planning process. When the first activity is still running and second activity starts, this is called Lead . For example, you're constructing a two-floor building, and now you have two activities in sequence; i.e. electrical work and painting. However, as you complete the electrical work of ground floor, you start painting it, and electrical work for first floor continues. When first activity completes, if there is then a delay or wait period before the second activity starts, this is called L ag . For Example, suppose you have to paint a newly constructed room. So, the first activity would be applying the primer coating and then you will go for the final painting. However, after applying the primer coating, you must give it some time to dry properly. Once the primer coating dries, you can start final painting. The time given for coating to dry itself is called the lag time.