You have been hired as a project manager for Tech Perfect Inc. You are studying the documentation of planning of a project. The documentation states that there are twenty-five stakeholders with the project. What will be the number of communication channels for the project?
Correct Answer:
A
According to the question, the project has twenty-five stakeholders. Communication channels are paths of communication with stakeholders in a project. The number of communication channels shows the complexity of a project's communication and can be derived through the formula shown below: Total Number of Communication Channels = n (n-1)/2 where, n is the number of stakeholders. Hence, a project having five stakeholders will have ten communication channels. Putting the value of the number of stake holder in the formula will provide the number of communication channels: Number of communication channel = (n (n-1)) / 2 = (25 (25-1)) / 2 = (25 x 24) / 2 = 600 / 2 = 300 Who are project stakeholders? Project stakeholders are those entities within or without an organization, which: Sponsor a project or, Have an interest or a gain upon a successful completion of a project. Examples of project stakeholders include the customer, the user group, the project manager, the development team, the testers, etc. Stakeholders are anyone who has an interest in the project. Project stakeholders are individuals and organizations that are actively involved in the project, or whose interests may be affected as a result of project execution or project completion. They may also exert influence over the project's objectives
and outcomes. The project management team must identify the stakeholders, determine their requirements and expectations, and, to the extent possible, manage their influence in relation to the requirements to ensure a successful project.
You are the project manager for your organization. Management has asked you to document the holidays, weekends, and other corporate working hours, which will supersede the project timings for your schedule. Which calendar will communicate to the project stakeholders, when the project work will take place within the organization?
Correct Answer:
A
The project calendar defines the working hours for the project, including any days that project work will not happen due to the organizational calendar.
Answer option D is incorrect. The company calendar is not the correct choice for this question.
Answer option C is incorrect. The organizational calendar is not the correct choice for this question.
Answer option B is incorrect. The resource calendar defines whether resources the project needs will be available. The resources include people, facilities, equipment, and other things that project needs to be completed.
You are the project manager of the NHQ project. This project is currently running about 15 percent behind schedule and the management has asked you to rectify the problem. You have elected to crash the project. What does this term mean?
Correct Answer:
B
Crashing means that the project manager will add resources to the project to complete effort-driven activities in the project. This schedule compression technique adds costs to the project. What is crashing? Crashing is a schedule compression technique to obtain the greatest amount of compression for the least incremental cost. Crashing works for activities where additional resources will shorten the duration. Approving overtime, bringing in additional resources, paying to expedite delivery to activities on the critical path are examples of crashing.
Answer option C is incorrect. Crashing does generally add costs to the project because of the labor added, but this is not the best choice for the question.
Answer options D and A are incorrect. These are not the valid definitions of crashing.
Your organization wants to start a new project. The study shows that the new project will save organization approximately $200,000 per year. Now it is required to move forward with the project. Which of the following documents will define the project justification?
Correct Answer:
B
The project charter defines the business needs, the project justification, the current requirements, and the new warehouse your organization wants to create. The project charter is the document that formally authorizes a project. The project charter provides the project manager with the authority to apply organizational resources to project activities. According to PMBOK Guide, the project charter should address the following information: Requirements that satisfy customer, sponsor, and other stakeholder needs, wants and expectations Business needs, high-level project description, or product requirements that the project is undertaken to address
Project purpose or justification
Assigned Project Manager and authority level Summary milestone schedule
Stakeholder influences
Functional organizations and their participation Organizational, environmental and external assumptions Organizational, environmental and external constraints
Business case justifying the project, including return on investment Summary budget
If required, it also authorizes the next project phase, and updates the charter. The project manager should always be assigned prior to the start of planning, and preferably while the project charter is being developed.
Answer option C is incorrect. The decomposition of the project scope results in the project's Work Breakdown Structure (WBS). The work packages of the WBS will help the project manager and team create accurate time and cost estimates.
Answer option A is incorrect. The feasibility study is usually created before the project scope, though not always. This document defines the likelihood of the project being able to reach its objectives.
Answer option D is incorrect. The project scope defines all that the project should complete.
What schedule analysis simulation tool allows you, the project manager, to review possible combinations of events such as optimistic, most likely and pessimistic outcomes for your
project?
Correct Answer:
B
The Monte Carlo simulation tool allows a project manager to explore "what-if" analysis for the project schedule and possible combinations of events in the project. Monte Carlo simulation is a process for iteratively evaluating a deterministic form using sets of random numbers as inputs. This method is repeatedly used when the model is complex, nonlinear, or involves more than just a couple of vague parameters. Monte Carlo simulation is named after the city in Monaco, where the major attractions are casinos that have games of chance. Gambling games, such as roulette, dice, and slot machines, exhibit random behavior. This technique works particularly well when the process is one where the underlying probabilities are known but the results are more difficult to determine. It is a process that generates hundreds or thousands of probable performance outcomes based on probability distribution for cost and schedule on individual tasks. The outcomes are then used to generate a probability distribution for the project as a whole.
Answer option D is incorrect. GERT is the Graphical Evaluation Review Technique and is a visual mapping of the project work including branches and loop backs within the project. Answer option A is incorrect. PERT is the Program Evaluation and Review Technique and is used for project scheduling and time estimating.
Answer option C is incorrect. PMIS is a project management information system, such as Microsoft Project, and often includes what-if analysis tools, but it's not the best answer for this question.