WGU - D079

WGU - D079

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D077: Unit 3 Test and Module Quiz ...

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WGU - C722

281 terms LearningChuPreview WGU C722 Project Management 320 terms lmorg71Preview WGU C Teacher gre Which set of components should be included in the organization portion of a project charter?Responsibilities of stakeholders, customers, and team members Which set of components should be included in the implementation section of a project charter?Milestones, dependencies, and resources needed Which guideline should be followed when making changes to a project charter?Document changes according to the guidelines specified.Which factors should be addressed in the scope component of a project charter?Which tasks should be accomplished and what is not included Which situation occurs when extra expenses, miscommunications, and other adverse factors negatively impact a project?Scope creep Why is it important to set SMART goals when determining the scope of a project?It increases alignment and establishes expectations for the project.What purpose does a Gantt chart serve in establishing the scope of a project?It establishes a timeline for overall project as well as all sub-element completion.What is an essential component of establishing the scope of work for a project?Establishing a WBS - Work Breakdown Structure

A project team meets to develop the project goals and a list of all of the tasks and deliverables needed to accomplish those goals.Which aspect of the classical triple constraint model is being used by this team?Scope A project team meets to determine the schedule for each of the deliverables necessary to complete a project.In which aspect of the classical triple constraint model is the team engaged?Time A project team is developing a list of necessary resources that need to be requested from management before beginning work on an approved project.In which aspect of the classical triple constraint model is the team engaged?Cost A manager meets with an employee to discuss a project.The manager outlines the project goals, explains what results are expected at the end of the project, and asks for monthly progress reports that include a list of all tasks that have been completed each month.In which aspect of the triple constraint model is the manager engaged?Scope A project team is finishing up the project's feasibility study, and the team has approval from management to proceed.Which phase of project management is the team entering?Planning A project team has progressed far with a new software implementation and is meeting the deadlines set in the project plan. The project manager asks the team for a report on how well the deliverables are matching with the target dates in the project plan.Which phase is the project in at this point?Project monitoring is the 4th phase of project management. This is when performance and progression are monitored and measured for quality outcomes.The manager needs to determine if upper management will commit to accepting recommendations from a specialty team regarding a legacy system that needs to be replaced.In which phase of project management is the manager engaged?Initiation A project team delivers the product that was to be designed to the client.In which phase of project management is the team currently engaged?Closure The five phases of Project Management areProject initiation, planning, execution, monitoring and control, and closure

Triple constraint model comprisesScope, Cost, and Time

Uses of a Scope Document: A well-developed project

scope statement provides the project team with information the team needs to design and implement the project execution plan

Development of a Scope Document: The project

manager will often develop the first draft of the project scope and then solicit feedback and suggestions from the project team, client, and sometimes key vendors.The project manager will attempt to develop consensus around the project scope, but the final approval belongs to the project client or sponsor.

Managing Changes to the Scope Document: The project

scope is not a stagnant document, and changes are expected. Changes to the project scope are necessary to reflect new information.Changes to the project scope also create the opportunity for new purposes to emerge that will change the end results of the project.

Deviation versus Change: If a minor change is made to

the schedule that does not affect the completion date of the project, it is a deviation from the schedule.Documenting Changes:It is important to have a written record of changes to the scope of a project.If changes are identified and a determination is made about how the changes might impact the project, run

through the following 3 steps:

• Assess each deliverable and determine if it is possible to replace one with the

desired change while keeping the current budget, schedule, and related resources in mind.

• Make the decision to not accept a change if it creates too great of an impact on

the overall project.

• Follow the desired documentation process, as established at the project startup

Identifying potential risks is an important step in the project management process. It typically occurs during the Performance monitoring and Control phase.

The project team mitigates risks in the following ways: Risk avoidance

Risk sharing Risk reduction Risk transfer A major U.S. sportswear company is launching a new product in an emerging market in a foreign country. The chief executive officer (CEO) and chief financial officer (CFO) make plans to travel to that location. Because of the risk associated with having both executives travel together in case of an emergency, the CEO and CFO decide to fly on different airlines and stay in different hotels.Which part of risk management is being practiced?Reduction

A major athletic sportswear company is launching a new product line in a new emerging market in Spain. The line has been tested in existing markets but has not yet been tested in Spain. To help gain a following and build their brand, the company decides that all manufacturing will take place locally in that country.To reduce overall costs, the company decides to outsource the manufacturing for the first launch to a local company instead of building their own manufacturing plant and managing these activities in house.What type of risk mitigation is the company practicing by outsourcing their manufacturing?Risk Avoidance A major sports athletic wear company is planning their upcoming product launch in six months. Because this launch is in a foreign market and the products are new to the company, a project team was formed to help ensure the success of the launch. One of the first activities after the project plan was approved by the executive leadership team was to identify all the risks associated with the project.A project team member informed the team that some of the risks identified were more significant than others and asked that they prioritize the risks by assigning a level of severity to them.What type of risk management activity is the team member requesting?Risk evaluation

Initiation Phase: Risk is associated withthings that are unknown.

Planning Phase: Once the project is approved and it

moves into the planning stage, risks are identified for each major group of activities. An RBS can be used to identify increasing levels of detailed risk analysis.

Execution Phase: As the project progresses and more

information becomes available to the project team, the total risk on the project typically reduces as activities are performed without loss.

Monitoring Phase: To determine the amount of

contingency that can be released, the project team will conduct another risk evaluation and determine the amount of risk remaining on the project.A major sportswear company just completed a successful new product launch in a new market in Spain. During the project, a risk assessment resulted in a list of ongoing risks to the brand and company after the launch was completed. The project team needs to align and agree on remaining risks, determine who will manage them, and ensure proper contingencies are available to address them.In which phase of the project does this type of work belong?Closeout