PROJ 587 WEEK 3 QUIZ
- Question: (TCO A) You are the CEO for Skipper Products. The business has had a great year and you see that a PPM is needed to manage all the projects that are currently in progress, along with future projects. You must convince the board of directors to accept this change in order to implement it. You have decided to give a presentation at the next meeting that covers the information below.
• What is a PPM?
• Compare PPM, PgM, and Project level.
• Benefits of each (PPM, PgM, and Project)
• Why should Skipper Products implement a PPM?
Create a detailed outline that covers all the areas listed above.
Question: (TCO B) There are three central processes that are required to develop a portfolio strategic plan. Describe each of them. Why are these processes important to the success of an organizations strategic plan?
Question: (TCO C) Cost management is used to help manage projects as investments and to evaluate project management performance using Earned Value Management (EVM). What is EVM? Describe the benefits of using EVM.
- Question: (TCO C) The following acronyms are used in a network diagram: LS, ES, LF, and EF. What do these acronyms mean, how are they calculated, and how would a project manager use these in relationship to project schedule and budget?
- Question: (TCO A) You work for Holt consulting company, which has been asked to recommend organizational improvements for CDC Software Company. You have been assigned to present PPM. Your boss has informed you that CDC Software Company knows nothing about PPM and you will need to cover the items below in your presentation. • What is a PPM? • Compare PPM, PgM, and Project level • Benefits of each (PPM, PgM, and Project) • Why should CDC Software Company implement a PPM?
- Question: (TCO B) In project orientation it is important to determine both the project needs from the project’s perspective and from the organization’s perspective. From the project’s perspective, the main areas of concern are project scoping, project programming, and project autonomy. In your own words, explain what is meant by project autonomy.
- Question: (TCO C) The program management life cycle was developed to not only ensure successful realization of organizational/program strategies but also to create a process to plan, identify, and resolve specific cost, schedule, or quality problems associated with the program. The five phases of the program life cycle are formulation, organization, deployment, appraisal, and dissolution. In your own words, describe the appraisal phase and how it aids in planning, identifying, and resolving specific cost, schedule, or quality problems associated…….
- Question: (TCO C) The following acronyms are used when working with project budget or schedule: PV, AC, EV, & BAC. Define these acronyms, explain how they are calculated, and how they are used to measure or explain the projects budget and schedule.