Which enterprise environmental factors are considered during cost estimating?
Answer(s): A
7.2.1.6 Enterprise Environmental FactorsDescribed in Section 2.1.5. The enterprise environmental factors that influence the Estimate Costs process include, but are not limited to:Market conditions. These conditions describe what products, services, and results are available in the market, from whom, and under what terms and conditions. Regional and/or global supply and demand conditions greatly influence resource costs.Published commercial information. Resource cost rate information is often available from commercial databases that track skills and human resource costs, and provide standard costs for material and equipment. Published seller price lists are another source of information.Process: 7.2 Estimate CostsDefinition: The process of developing an approximation of the monetary resources needed to complete project activities.Key Benefit: The key benefit of this process is that it determines the amount of cost required to complete project work.Inputs1. Cost management plan2. Human resource management plan3. Scope baseline4. Project schedule5. Risk register6. Enterprise environmental factors7. Organizational process assetsTools & Techniques1. Expert judgment2. Analogous estimating3. Parametric estimating4. Bottom-up estimating5. Three-point estimating6. Reserve analysis7. Cost of quality8. Project management software9. Vendor bid analysis10. Group decision-making techniquesOutputs1. Activity cost estimates2. Basis of estimates3. Project documents updates
Who selects the appropriate processes for a project?
Answer(s): C
The scope management plan is a subsidiary of which project document?
Answer(s): B
4.2.3.1 Project Management PlanThe project management plan is the document that describes how the project will be executed, monitored, and controlled. It integrates and consolidates all of the subsidiary plans and baselines from the planning processes. Project baselines include, but are not limited to:Scope baseline (Section 5.4.3.1), Schedule baseline (Section 6.6.3.1), and Cost baseline (Section 7.3.3.1).Subsidiary plans include, but are not limited to:Scope management plan (Section 5.1.3.1), Requirements management plan (Section 5.1.3.2), Schedule management plan (Section 6.1.3.1), Cost management plan (Section 7.1.3.1),Quality management plan (Section 8.1.3.1), Process improvement plan (Section 8.1.3.2),Human resource management plan (Section 9.1.3.1), Communications management plan (Section 10.1.3.1), Risk management plan (Section 11.1.3.1), Procurement management plan (Section 12.1.3.1), and Stakeholder management plan (Section 13.2.3.1).Among other things, the project management plan may also include the following:Life cycle selected for the project and the processes that will be applied to each phase; Details of the tailoring decisions specified by the project management team as follows:○ Project management processes selected by the project management team,○ Level of implementation for each selected process,○ Descriptions of the tools and techniques to be used for accomplishing those processes, and○ Description of how the selected processes will be used to manage the specific project, including the dependencies and interactions among those processes and the essential inputs and outputs.Description of how work will be executed to accomplish the project objectives;Change management plan that documents how changes will be monitored and controlled; Configuration management plan that documents how Configuration management will be performed; Description of how the integrity of the project baselines will be maintained;Requirements and techniques for communication among stakeholders; andKey management reviews for content, the extent of, and timing to address, open issues and pending decisions. The project management plan may be either summary level or detailed, and may be composed of one or more subsidiary plans. Each of the subsidiary plans is detailed to the extent required by the specific project. Once the project management plan is baselined, it may only be changed when a change request is generated and approved through the Perform Integrated Change Control process.
Which is an example of Administer Procurements?
An input to the Create WBS process is a:
5.3.3.1 Project Scope StatementThe 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.The project team must complete a scope statement for developing a common understanding of the project scope among stakeholders. This lists project deliverables - summary level sub-products, whose full and satisfactory delivery marks the completion of the project.5.4 Create WBSDefinition: WBS is the process of subdividing project deliverables and project work into smaller, more manageable components. Key Benefit: The key benefit of this process is that it provides a structured vision of what has to be delivered.Inputs1. Scope management plan2. Project scope statement3. Requirements documentation4. Enterprise environmental factors5. Organizational process assetsTools & Techniques1. Decomposition2. Expert judgment Outputs1. Scope baseline2. Project documents updates
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