Exam 3: Project Management

With time and material contracts,the true value of the contract is defined when the contract is approved.

Describe quality management.

In a cost-plus-incentive-fee contract,the provider is reimbursed for all allowable costs.

A hallmark of experienced project managers is that they follow a deliberate and systematic process of ____________________ to identify,analyze,and manage project risks.

The success rate for IT-related projects is generally high.

____ items are nondepreciable items that are consumed shortly after they are purchased.

A project ____ is a senior-level executive who is a strong advocate for the project.

The smaller the scope of the project,the more difficult it is to meet cost,schedule,quality,and stakeholder expectations.

____ is money spent to purchase assets that appear on the organization's balance sheet and that are depreciated over the life of the asset.

A(n)____ is a temporary endeavor undertaken to create a unique product,service,or result.

A(n)____________________ is a legally binding agreement that defines the terms and conditions of the buyer-provider relationship.

With the cost-reimbursable contract,the buyer and provider agree to a total fixed price for a well-defined product or service.

In a ____ or cost-plus-percentage of cost contract,the provider is reimbursed for all allowable costs and receives a percentage of the costs as a fee.

For many managers,their ability to manage projects effectively is a key to their success within an organization.

Today,many organizations recognize project management as one of their core competencies.

Explain what a project is.

About ____ percent of all IT projects are estimated to be clear failures.

A ____ is an outline of the work to be done to complete the project.

Quality ____ involves checking project results to ensure that they meet identified quality standards.

Project ____________________ requires the coordination of all appropriate people,resources,plans,and efforts to complete a project successfully.