BUS 395 Exam Package Deal

Actual Cost - Answer The total of direct and indirect costs incurred in accomplishing work on an activity during a given period Analogous Estimates - Answer A cost estimating technique that uses the actual cost of a previous, similar project as the basis for estimating the cost of the current pro...

Project Schedule Management - Answer involves the processes required to ensure timely completion of a project Main processes in Schedule Management - Answer - Plan Schedule Management - Define Activities - Sequence Activities - Estimate Activity Durations - Develop the Schedule - Control th...

Operation - Answer work done to sustain a business. Continues Project - Answer a temporary endeavor undertaken to create a unique product, service, or result. Projects end when their objectives have been reached or the project has been terminated Project Attributes - Answer A project: -has...

What is the Test Team's job? - Answer Test/quality control (risk mgmt and quality assessment) , quality assurance (test/QC mgmt and ensuring quality throughout the process) , and to make sure you're competent, staffed and politically supported for your role. Is independent testing a spectrum or...

7 Project Time Management Processes - Answer - Planning schedule management - Defining activities - Sequencing activities - Estimating activity resources - Estimating activity duration - Developing the schedule - Controlling the schedule Elements of a schedule management plan - Answer - Pr...

Appropriate time to rent or lease if - Answer time in property is going to be short (1-3 years) Appropriate time to buy if - Answer - Time in property is going to be long (>3 years) Adjustable Rate Mortgage - Answer - is appropriate when time in property is short - 2/6 means the interest r...

project procurement management - Answer acquire goods/services from an outside source reasons for increasing the use of outsourcing information technology projects - Answer 1) to access skills and technologies that you may not have 2)reduce fixed and recurrent costs 3)allow client organization ...

Advantages of Using Formal Project Management - Answer ◦Better control of financial, physical, and human resources ◦Improved customer relations ◦Shorter development times ◦Lower costs and improved productivity ◦Higher quality and increased reliability ◦Higher profit margins ◦Bett...

best practice - Answer An optimal way recognized by industry to achieve a stated goal or objective critical path - Answer The longest path through a network diagram that determines the earliest completion of a project enterprise project management software - Answer • Software that integrates...

Which objective is true of projects? - Answer they have a unique purpose project integration management must occur just within the context of a particular project - Answer false When does payback occur? - Answer when the net cumulative benefits equal the net cumulative costs Steve, an engin...

Until the 1980s, project management primarily focused on providing schedule and resource data to top management in the military, computer, and construction industries. - Answer True A project manager's primary role is to provide the funding for a project. - Answer False In order to be realist...

_____________ is the degree to which a set of inherent characteristics fulfills requirements - Answer Quality What is the purpose of project quality management? - Answer To ensure that the project will satisfy the needs for which it was undertaken _________ generates ideas for quality improvem...