Wbs dictionary - Study guides, Class notes & Summaries

IT 343 Midterm Exam | Verified with 100% Correct Answers What is project management? A. The ability to complete a task within a given amount of time B. The ability to complete a task within a given budget C. The ability to manage a temporary endeavor to create a unique product or service, on time and within budget D. The ability to administer a series of chronological tasks within a given amount of time and under budget All of the following are project management process groups except for whi...

WBS Dictionary correct answers A document that provides a description of each component - who is responsible for development - statement of work (SOW) - important milestones - estimate of costs and required resources Resource Scheduling correct answers A collection of techniques used to calculate the resources required to deliver the work and when they will be required. 1. create a network activity diagram first 2. adjust according to resource availability Duration correct ans...

WGU C722 Test Bank Project Management, Top Exam Questions and answers, Approved. A Guide to Project Management Body of Knowledge (PMBOK Guide) The project management standard developed by the Project Management Institute. Benefit measurement methods A type of decision model that compares the benefits obtained from a variety of new project requests by evaluating them using the same criteria and comparing the results. Co-located When team members work together at the same physical locati...

UCF MAN 4583 Exam 2 Latest Update Already Passed Project Budget A realistic estimate of the cost to complete the project work Estimate too high; the project could be canceled Estimate too low; the project will cost more and don't deliver The Cost target you aim for as you manage a project Labor Cost What you paid people to work on the project Vendors Contractors Employees Burdened Cost For employees Salary Benefits May get the rates from accounting or HR departm...

You are assigned a new project. You learn that the technology department wants the project objective to be a 15% improvement in throughput. The operations' department wants no more than 3% of its resources used on the project and senior management is asking the project to reduce tax liability. As PM, the best thing you can do is: A. Encourage technology, operations, and management to meet and agree upon one objective B. Include only the senior management objective C. Include operations...

C722- Project Management, WGU C722 (Pre), WGU C722 Project Management Terminology, WGU C722 Project Management Terminology, WGU C722 Equations Questions and Answers 100% Pass A firm begins its strategic business initiative of developing a new business model that will allow the firm to deliver an efficient, tailored service to its customers. To accomplish this, the firm initiates a business management project. Which aspect of project management applies to this firm's project? - Correct An...

Which if the following MUST be clearly defined in a project charter? Correct Answer-Scope Which of the following is the MAIN difference between an open-ended and close-ended problem statement? Correct Answer-An open-ended problem statement leads to multiple solutions while a close-ended one has limited solutions A project team member, Joe, has completed his project work. Although the project is not completed yet, Joe has been assigned by the PMO (Project Management Office) director to a ne...

PMAN 637 Project Risk Management Quiz 1 2024 Correct answers highlighted in YELLOW   PMAN 637 Project Risk Management Quiz 1 2024 Correct answers highlighted in YELLOW Question 1 (2 points) The WBS captures A. How work is organized and sequenced B. The priority of project work components C. All the work required to realize the project's requirements D. Detailed costs associated with key work components Question 2 (1 point) The WBS is a critical project artifact which infl...

Project Management C722 - Pre-Assessment Study Verified Solutions A Firm begins it's strategic business initiative of developing a new business model that will allow the firm to deliver an efficient, tailored service to its customers. To accomplish this, the firm initiates a business management project. Which aspect of project management applies to this firm's project? ️Interdependent Tasks A firm begins its strategic business initiative of developing a new business model to enhanc...

Develop Project Charter - Inputs: Project statement of work, business case, contract, enterprise environment factors, organizational process assets Outputs: Project Charter Identify Stakeholders - Inputs: Project Charter, enterprise environment factors, Organizational Process Assets, Procurement Documents Outputs: Stakeholder Management Strategy, Stakeholder register Develop Project Management Plan - Inputs: Project Charter, enterprise environment factors, Organizational Process Assets, ...