QUESTION: 33

Which tool or technique is effective in a project in which the deliverable is not a service or result?

Inspection
Variance analysis
Decomposition
Product analysis

Answer(s): D

Explanation:

5.3.2.2 Product Analysis
For projects that have a product as a deliverable, as opposed to a service or result, product analysis can be an effective tool. Each application area has one or more generally accepted methods for translating high-level product descriptions into tangible deliverables. Product analysis includes techniques such as product breakdown, systems analysis, requirements analysis, systems engineering, value engineering, and value analysis.

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QUESTION: 34

An element of the project scope statement is:

Acceptance criteria.
A stakeholder list.
A summary budget.
High-level risks.

Answer(s): A

Explanation:

5.3.3.1 Project Scope Statement
The project scope statement is the description of the project scope, major deliverables, assumptions, and constraints. The project scope statement documents the entire scope, including project and product scope. It describes, in detail, the project’s deliverables and the work required to create those deliverables. It also provides a common understanding of the project scope among project stakeholders. It may contain explicit scope exclusions that can assist in managing stakeholder expectations. It enables the project team to perform more detailed planning, guides the project team’s work during execution, and provides the baseline for evaluating whether requests for changes or additional work are contained within or outside the project’s boundaries.
The degree and level of detail to which the project scope statement defines the work that will be performed and the work that is excluded can help determine how well the project management team can control the overall

project scope. The detailed project scope statement, either directly, or by reference to other documents, includes the following:

Product scope description. Progressively elaborates the characteristics of the product, service, or result described in the project charter and requirements documentation.
Acceptance criteria. A set of conditions that is required to be met before deliverables are accepted.
Deliverable. Any unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project. Deliverables also include ancillary results, such as project management reports and documentation. These deliverables may be described at a summary level or in great detail.

Project exclusion. Generally identifies what is excluded from the project. Explicitly stating what is out of scope for the project helps to manage stakeholders’ expectations.
Constraints. A limiting factor that affects the execution of a project or process. Constraints identified with the project scope statement list and describe the specific internal or external restrictions or limitations associated with the project scope that affect the execution of the project, for example, a predefined budget or any imposed dates or schedule milestones that are issued by the customer or performing organization. When a project is performed under an agreement, contractual provisions will generally be constraints. Information on constraints may be listed in the project scope statement or in a separate log.
Assumptions. A factor in the planning process that is considered to be true, real, or certain, without proof or demonstration. Also describes the potential impact of those factors if they prove to be false.

Project teams frequently identify, document, and validate assumptions as part of their planning process. Information on assumptions may be listed in the project scope statement or in a separate log.

Although the project charter and the project scope statement are sometimes perceived as containing a certain degree of redundancy, they are different in the level of detail contained in each. The project charter contains high level information, while the project scope statement contains a detailed description of the scope elements. These elements are progressively elaborated throughout the project. Table 5-1 describes some of the key elements for each document.

Table 5-1. Elements of the Project Charter and Project Scope Statement Project Charter
Project purpose or justification Measurable project objectives and related success criteria High-level requirements
High-level project description High-level risks
Summary milestone schedule Summary budget Stakeholder list
Project approval requirements
(what constitutes success, who decides it, who signs off) Assigned project manager,
responsibility, and authority level
Name and authority of the sponsor or other person(s) authorizing the project charter

Project Scope Statement
Project scope description (progressively elaborated) Acceptance criteria
Project deliverables Project exclusions Project constraints Project assumptions

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QUESTION: 35

Which document describes the necessary information to determine if a project is worth the required investment?

Cost baseline
Service level agreement
Memorandum of understanding
Business case

Answer(s): D

Explanation:

4.1.1.2 Business Case
The business case or similar document describes the necessary information from a business standpoint to determine whether or not the project is worth the required investment. It is commonly used for decision making by managers or executives above the project level. Typically, the business need and the cost-benefit analysis are contained in the business case to justify and establish boundaries for the project, and such analysis is usually completed by a business analyst using various stakeholder inputs. The sponsor should agree to the scope and limitations of the business case. The business case is created as a result of one or more of the following:
Market demand (e.g., a car company authorizing a project to build more fuel-efficient cars in response to gasoline shortages),
Organizational need (e.g., due to high overhead costs a company may combine staff functions and streamline processes to reduce costs.),
Customer request (e.g., an electric utility authorizing a project to build a new substation to serve a new industrial park),
Technological advance (e.g., an airline authorizing a new project to develop electronic tickets instead of paper tickets based on technological advances),
Legal requirement (e.g., a paint manufacturer authorizing a project to establish guidelines for handling toxic materials),
Ecological impacts (e.g., a company authorizing a project to lessen its environmental impact), or
Social need (e.g., a nongovernmental organization in a developing country authorizing a project to provide potable water systems, latrines, and sanitation education to communities suffering from high rates of cholera).

Each of the examples in this list may contain elements of risk that should be addressed. In the case of multiphase projects, the business case may be periodically reviewed to ensure that the project is on track to deliver the business benefits. In the early stages of the project life cycle, periodic review of the business case by the sponsoring organization also helps to confirm that the project is still aligned with the business case. The project manager is responsible for ensuring that the project effectively and efficiently meets the goals of the organization and those requirements of a broad set of stakeholders, as defined in the business case.

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QUESTION: 36

Which process involves monitoring the status of the project to update the project costs and managing changes to the cost baseline?

Estimate Costs
Control Costs
Determine Budget
Plan Cost Management

Answer(s): B

Explanation:

7.3.3.1 Cost Baseline
The cost baseline is the approved version of the time-phased project budget, excluding any management reserves, which can only be changed through formal change control procedures and is used as a basis for comparison to actual results. It is developed as a summation of the approved budgets for the different schedule activities.

7.4 Control Costs
Definition: The process of monitoring the status of the project to update the project costs and managing changes to the cost baseline.
Key Benefit: The key benefit of this process is that it determines the cost baseline against which project performance can be monitored and controlled.

Inputs
1. Project management plan
2. Project funding requirements
3. Work performance data
4. Organizational process assets

Tools & Techniques
1. Earned value management
2. Forecasting
3. To-complete performance index (TCPI)
4. Performance reviews
5. Project management software
6. Reserve analysis

Outputs
1. Work performance information
2. Cost forecasts
3. Change requests
4. Project management plan updates
5. Project documents updates
6. Organizational process assets updates

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