Wbs dictionary - Study guides, Class notes & Summaries

Plan scope management the process of developing a plan that includes the total scope of what needs to be done and what is excluded from the project; implementation and validation of the scope; and how to control deviations from the scope statement. Total scope = product scope + project scope Product scope outputs the team will deliver to its customers Project scope the work needed to be performed in order to deliver the project's outputs Requirement a condition or capability needed by a use...

When completed, the ______ can be used any time the scope of a project needs to be reevaluated WBS Difference between validating scope and closing project Without Validating the scope, and having the deliverables accepted you can't close the project or phase. Validating scope is basically assuring that a product, service, or system meets the needs of the customer and other identified stakeholders. It often involves acceptance and suitability with external customers. The Close Pro...

CAPM Practice Exam 265 Questions with Verified Answers Which of the following is the process of monitoring the status of the project to update the project schedule and manage changes to the schedule? - CORRECT ANSWER Control schedule Risk transference nearly often involves: - CORRECT ANSWER Payment of a risk premium to the party taking on the risk The interaction of the various system components creates the organizational culture and capabilities that are important for the project. Whic...

While getting ready to manage the project schedule, the project manager would like to document how accurate the schedule must be and what model the team will use to create the schedule. What document would have this information? ​ - Scope Management Plan ​ - Schedule Management Plan ​ - Schedule Baseline ​ - Schedule Data Schedule Management Plan: The schedule management plan will describe how the schedule will be planned, developed, managed, executed, and controlled throughout...

Benefit measurement methods Decision model that compares the benefits obtained from new project requests by evaluating them using the same criteria and comparing the results. Constrained optimization models Decision models that use statistics and other mathematical concepts to assess a proposed project. Cost-benefit analysis benefit measurement. Calculates the cost of producing the result of the project and compares to the financial gain the project will generate. Decision model Method of...

CAPM Exam 1|100 Questions with Verified Answers You are a project manager for your company and are helping management choose a project. You've been presented with the following information: Project 1 has a net present value of $25,000 and will take five years to complete. Project 2 has a net present value of $45,000 and will take two years to complete. Project 3 has a net present value of $33,500 and will take six years to complete. Which project should your company choose to complete? - COR...

PC 1.09 Baselines question with complete solution rated A+ 2023(UPDATED)PC 1.09 Baselines question with complete solution rated A+ 2023 Baseline - correct answer The *approved* version of a work product that can be changed only through formal change control procedures and is used as a basis for comparison. Various baselines - correct answer cost, schedule, scope, performance, product, cash, technical (last 3 less common). Help you measure and monitor your project Cost Baseline - corr...

1. Question:All of the following are advantages associated with assigning both core team members and subject matter experts to the project as soon as possible EXCEPT: 2. Question: All of the following are among the activities a project manager should undertake to develop a highly effective team EXCEPT: 3. Question: During which stage of team development do team members attempt to jockey for power, ask many questions and establish dubious goals? 4. Question: The personal values of team member...

CAPM PRACTICE EXAM 3|197 Questions with Verified Answers "QUESTION NO: 1 Power, urgency and legitimacy are attributes of which stakeholder classification model? salience influence/impact power/interest power/influence - CORRECT ANSWER Power, urgency and legitimacy are attributes of which stakeholder classification model? salience "QUESTION NO: 2 Through whom do project managers accomplish work? consultants and stakeholders stakeholders and functional managers project team...

WGU C176 Business of IT Project Management CompTIA Project (2022/2023) Rated A+ Discounted Cash Flow is the total value of each year's expected cash inflow in TODAY'S DOLLARS NPV is calculated by: subtracting the initial investment from the total of the expected cash inflows stated in today's dollars. ex. if initial is higher than cash flows so NPV is less than zero and project should be rejected Negotiating involves... obtaining mutually acceptable agreements with individuals or groups L...