Exam 2: Project Management

Explain how daily scrum meeting is used for manage the scope of project.

The formula for net present value (NPV) is the ratio of (Total benefits - Total Costs) to Total Costs.

Economic feasibility includes an assessment of financial impacts in four categories. What are these four financial categories and how are values assigned to each?

Project management is the process of planning and controlling the development of a system within a specified time frame at a minimum cost with the right functionality.

The traditional Work Breakdown Structure makes it easy to compare the current project with past projects.

_____ value can be quantified during the project initiation phase.

The calculation that measures the amount of money an organization receives in return for the money it spends is called the _____.

Timeboxing is a time-oriented approach to project development.

The evolutionary Work Breakdown Structure approach is very useful when the requirements of the system are not well understood.

Using typical industry standards for estimating project time schedules, the estimated analysis phase would be 10 person-months for a systems project where the planning phase was completed in 7.5 person-months.

Suppose a proposed new financial reporting system for the AMF Biotech Corporation must be completed by the start of the next fiscal year in order to comply with new government regulations. This information should be included as part of the ____________ section of the system request.

How well a system is accepted by the users and incorporated into the ongoing operations of the business is defined in the technical feasibility.

A 20% increase in sales volume is a tangible benefit that can be included in a cost-benefit analysis.

Determining whether the new system will be compatible with the existing technology that already exists in the organization is part of the organizational feasibility study.

Natalie has been asked by her project manager to list the possible intangible benefits for a new system. Her list will include reduced expenses for the company.

Timeboxing is a popular technique which sets a fixed deadline for a project and delivers the system by that deadline no matter what, even if functionality needs to be reduced.

Cost benefit analysis identifies the financial costs and benefits associated with a systems project.

_____ feasibility is determined by identifying costs and benefits associated with the system.

In a jelled team, team members enjoy doing their work.

Explain different sections of a system request.