PPM 301 - Project Management

Review for the second test

The following questions are provided to help you study for the second test. Do not expect to see these exact questions on the test.

1. What is project partnering, in the context of project management?
   
   
2. What are some of the reasons given in the text for pursuing a contract through project partnering?
   
   
3. What does the text mean when it says that project partnering may not be visible to the customer?
   
   
4. Why are effective interactions with stakeholders needed in order for a project to flow with the desired rate of speed?
   
   
5. What phrase does the text define as meaning "providing high quality products and services in the present"?
   
   
6. What phrase does the text define as meaning "developing products and services for the future based on assessed needs"?
   
   
7. What phrase does the text define as meaning "maintaining our skills to be able to provide and develop high quality products"?
   
   
8. What does the text advise us to include in our project reports to senior management? Why should this be included?
   
   
9. The text mentions three aspects of international projects that may cause particular trouble. What are they?
   
   
10. Should the size of a project matter when we are considering how many projects our company can handle simultaneously?
    
    
11. What are some of the reasons that might cause us to concentrate our efforts on a single project instead of taking on several at once?
    
    
12. What is the aphorism presented in chapter 5 about leaders, managers, and the right things?
    
    
13. With regard to the common distinctions between strategic and operational goals, which does our text believe belongs more with a leader, and which belongs more with a manager?
    
    
14. Why does it make sense that a leader should have a reputation for honesty and integrity? Does this seem like a reputation that you could achieve in business?
    
    
15. What kind of details about a project should a manager include when discussing its purpose with staff?
    
    
16. What kind of details about a project should a manager include when discussing direction with staff?
    
    
17. What kind of details about a project should a manager include when discussing motivation with staff?
    
    
18. What are the two aspects of coaching that are discussed in chapter 5?
    
    
19. When disciplining a team member, what should you do besides discussing what you find currently unacceptable?
    
    
20. Why is a time frame necessary when requiring corrective action from an employee?
    
    
21. How can priorities on a project lead to conflict?
    
    
22. How can the "it doesn't affect me" problem cause us to reach a false consensus?
    
    
23. Why would the "no one in the room is harmed" problem even be a problem is no one is harmed?
    
    
24. What does a person do to "resolve" conflict in each of these methods?
• withdrawal
• smoothing
• compromise
• forcing
  
  
25. What is the essential principle of Maslow's Hierarchy?
    
    
26. What is meant by Theory X and Theory Y?
    
    
27. Typically, a project must turn a profit to be accepted. What are some reasons to conduct a project that will not turn a profit?
    
    
28. What is the formula used in the text to calculate return on investment? How is that different from the formula used at the Finance Formulas web site?
    
    
29. What must we know in order to calculate the net present value of an asset to be received later?
    
    
30. How does knowing the internal rate of return for a deal tell us if we should accept that deal?
    
    
31. How could a cash flow analysis give us different answers about a project depending on the time period involved?
    
    
32. Feasibility is a big area with several parts. What does each kind of feasibility actually measure?
• technological
• economic
• legal
• operational
• time related
  
  
33. Of the four contract dispute resolution methods discussed in the text, which are we cautioned to avoid because of the higher expense involved?
    
    
34. What are the three main sections of a proposal that the text tells us to include?
    
    
35. What is a statement of work? What are some of the elements that should be found in one?
    
    
36. What are the three costs areas that have to do with quality control? Which two have to do with the cost of lack of quality?
    
    
37. What is the one reason given by the text for terminating a successful project?