IT Software Acquisition and Project Management True/False 1. The PMBOK Guide ref

Question

IT Software Acquisition and Project Management

True/False

1. The PMBOK Guide refers to: The body of knowledge identified by PMI as needed by project managers to be effective.

2. The primary responsibility of a project manager is to ensure that all work is completed on time, within budget and scope, and at the correct performance level.

3. Project managers also have a responsibility to manage as well as lead the people on their team.  This includes building team chemistry, mentorship, and making sure everyone has the resources to succeed.

4. Project scope defines the limits of a project manager’s authority.

5. A stakeholder is anyone who has a vested interest in the project.  These include contributors, customers, managers, and financial people.

6. The scope of a project can change throughout the duration of the project, but it is mission critical to outline requirements during the initial phase.

7. The WBS (work breakdown structure) outlines project risk.

8. Having a contingency plan is notimportant for project managers.

9. In project teams, everything will always run smoothly.

10. Milestones are events that represent a point in a project of special significance (example: a customer deliverable).

11. Total cost of ownership (TCO) represents the entire cost of a project.  Components of this include fees for the product, maintenance, product customizations, and support.

12. A company should ALWAYSbuild their own software instead of buying a commercial off the shelf (COTS) product.

13. A Request for Proposal (RFP) represents a more detailed requirements document that allows prospective bidders (vendors) to provide a cost proposal and solutions for the reported needs of the organization.

14. Due diligence is a waste of time, and should never be performed.

15. Selecting a vendor is mission critical, and building the initial relationship with a vendor can provide years of mutual valuable return for both the vendor and consumer.

Explanation / Answer

Q1) The PMBOK Guide refers to: The body of knowledge identified by PMI as needed by project managers to be effective - TRUE

Q2) The primary responsibility of a project manager is to ensure that all work is completed on time, within budget and scope, and at the correct performance level - TRUE

Q3) Project managers also have a responsibility to manage as well as lead the people on their team.  This includes building team chemistry, mentorship, and making sure everyone has the resources to succeed - TRUE

Q4) Project scope defines the limits of a project manager’s authority. - FALSE

Q5) A stakeholder is anyone who has a vested interest in the project.  These include contributors, customers, managers, and financial people - TRUE [Reason - Stakeholders are individuals who either care about or have a vested interest in your project. They are the people who are actively involved with the work of the project or have something to either gain or lose as a result of the project. The project manager, project team members, and the managers from other departments in the organization are stakeholders as well]

Q6) The scope of a project can change throughout the duration of the project, but it is mission critical to outline requirements during the initial phase - TRUE [Reason - Its based on client's changing requirements and updates made continously to the existing functionality developed by team]

Q7) The WBS (work breakdown structure) outlines project risk = FALSE [Reason = A work breakdown structure (WBS) is a key project deliverable that organizes the team's work into manageable sections. The Project Management Body of Knowledge (PMBOK) defines the work breakdown structure as a "deliverable oriented hierarchical decomposition of the work to be executed by the project team."]

Q8) Having a contingency plan is not important for project managers = FALSE [Reason - It is very important for the Managers to develop a Project Consistency Plan]

Please let me know in case of any clarifications required. Thanks!

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