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| Project Lifecycle, Information Sharing, and Risk Management | Coursera IBM |
Discusses key aspects of project management. It delves into the stages of a project's lifecycle, emphasizing the importance of understanding initiation, planning, execution, monitoring, and closure phases. Additionally, the post explores strategies for effective information sharing among project stakeholders, highlighting communication tools and platforms that enhance collaboration and decision-making. Furthermore, it addresses the significance of risk management in mitigating potential project disruptions, outlining methodologies for identifying, assessing, and controlling risks throughout the project lifecycle. This comprehensive approach equips participants with essential knowledge and skills to navigate and succeed in managing complex projects.
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Module 1 Graded Quiz: The Project Management Lifecycle
1. Which of the following are the two most common lifecycle categories
project managers use in project management?
- Six Sigma
- Predictive
- Lean
- Adaptive
2. A product owner meets with a key customer and determines their
requirements. The project manager documents these requirements in the form
of user stories. Where will these user stories be held for implementation?
- Requirements log
- Sprint backlog
- Product backlog
- User story backlog
3. A project manager reviews key documents created in the initiating phase
or process group. Which two documents should not be part of this review?
- Project management plan
- Work breakdown structure (WBS)
- Project charter
- Stakeholder register
4. The sponsor approves the project charter, and planning is underway. Which
of the following baselines is the first planning target to complete and gain
approval and acceptance of?
- Quality baseline
- Cost baseline
- Schedule baseline
- Scope baseline
5. The primary focus of the project executing phase is the production of
which of the following?
- Deliverables
- Milestones
- Final product
- Reports
6. Your team receives a deliverable and is about to transfer it to quality
control. What is not true about quality control?
- The primary focus of quality control is to prevent defects from occurring.
- The quality control team ensures the project team corrects defects before the customer acquires the product.
- The quality control team uses inspections to determine if the deliverable meets specifications.
- The quality control team performs the process in the monitoring and controlling phase.
7. A project manager receives a verified deliverable. Which of the following
steps should be taken next?
- The project manager validates scope to gain acceptance.
- The project manager updates the project status and informs the project sponsor.
- The project manager closes out all contracts immediately.
- The project manager transitions the product for further processing.
8. A project manager conducts lessons learned sessions with the project
team. Which of the following questions does not need to be addressed?
- What went well?
- What are the next steps?
- What can be improved?
- What could have gone better?
9. What is the primary purpose of a project kick-off meeting?
- Review the project charter
- Attain stakeholder acceptance
- Gain sponsor approvals
- Build the project team
10. Which of the following models does the product backlog follow?
- The Scrum Model
- The Agile Model
- The DEEP Model
- The Waterfall Model
Module 2 Graded Quiz: Information Sharing: Communications
1. The communications model shares the flow of effective communications from
sender to receiver. Which two statements are true regarding this model?
- Choose a standard medium
- Encode in a way that matches your preferences
- Ensure feedback matches the need
- Anticipate communications blockers
2. Your team is dispersed in different time zones, and virtual communication
is often your only viable option. In addition, the project uses Microsoft
SharePoint. You must ensure all key stakeholders have access to and
understand how to use the system. Which two communications technology
factors are impacting the project?
- Ease of use
- Availability and reliability of technology
- Challenges in the project environment
- Urgency to share information
3. A project manager is sending communications to one or multiple parties
and will not receive any acknowledgment that the communications were read or
understood. What communications method is this project manager using?
- Push communications
- Interactive communications
- Non-Verbal communications
- Pull communications
4. Communication is essential to project management success. According to
the Project Management Institute (PMI), what percentage of a project
manager’s time is generally spent effectively communicating?
- 100%
- 99%
- 90%
- 80%
5. The communications management plan is complete, and the project manager
moves the project to the executing phase or process group. On what process
does the project management team now focus?
- Plan Communications
- Monitor communications
- Control communications
- Manage communications
6. Two project team members are having a passionate discussion on the most
appropriate way to complete a project task. In the end, the two members
agree upon a solution that benefits the project. What type of conflict
occurred?
- Dysfunctional
- Consequential
- Functional
- Collaborative
7. A project manager uses a conflict resolution technique that is not
optimal but often necessary. Each party receives something but must give up
something in return. This technique may lead to buyer’s remorse. Which of
the following techniques is described?
- Collaborate/Problem Solve
- Compromise/Reconcile
- Smooth/Accommodate
- Withdraw/Avoid
8. Ram uses a conflict management technique that incorporates multiple
viewpoints and shows a cooperative attitude to solve the conflict. Ram wants
to strive for consensus and commitment. Which of the following techniques is
Ram using in the scenario?
- Force/Direct
- Withdraw/Avoid
- Collaborate/Problem Solve
- Smooth/Accommodate
9. While reviewing various power sources, a project manager notes one power
is the ability to gain support when the project team and stakeholders
perceive the project manager as possessing special knowledge. Others must
also perceive this knowledge as functional expertise that they consider
essential. In addition, this power must be earned. What power is under
consideration?
- Reward Power
- Referent power
- Expert power
- Position power
10. Which of the following values, as defined by PMI’s Code of Ethics,
emphasizes the duty to take ownership of decisions, actions, and
consequences?
- Responsibility
- Respect
- Honesty
- Fairness
Module 3 Graded Quiz: Information Sharing: Stakeholder Management
1. Who normally develops a team charter?
- Team
- Program manager
- Project manager
- Sponsor
2. You are communicating with a stakeholder who has high power and low
interest in the project. What strategy is most appropriate to manage and
engage with this customer?
- Keep satisfied
- Manage closely
- Keep informed
- Monitor
3. A document that can be used to define current and desired stakeholder
commitment levels, and develop strategies to adjust commitment levels is
referred to as?
- Stakeholder Engagement Plan
- Communications management plan
- Stakeholder register
- Team charter
4. A project management trainer is describing key strategies to attain
desired levels of stakeholder commitment. What two strategies should be on
the trainer’s list? (Choose 2)
- Share scope, schedule, and budget recommendations before project management planning is complete
- Share well defined and value-added project objectives
- Stress that communications is 75% of a project managers job
- Engage stakeholders when planning is complete
5. A project manager needs to define and document ground rules and norms
that will guide the team’s behavior. Which tool is best to achieve this
goal?
- Project charter
- Team charter
- Team norms sheet
- Business case
6. Identify a common method used to define stakeholder responsibilities.
- ACRI
- RACI
- ARCI
- IACR
7. The team is currently productive. You need to participate in project
activities to maintain required levels of support. Which of the Tuckman
Ladder stages best describes the team?
- Storm
- Perform
- Form
- Norm
8. A number of project team members are in the storm stage of the Tuckman
Ladder. What is your best strategy option?
- Sell
- Delegate
- Participate
- Tell
9. People evaluate work based on the level of effort required to accomplish
it. If the potential reward justifies the level of effort, the team member
performs at a high level. Which of the following supports the described
concept?
- Hertzberg’s theory
- Theory of needs
- Extrinsic vs. Intrinsic motivation theory
- Expectancy theory
10. Who developed the Theory of needs?
- David McClelland
- Frederick Herzberg
- Abraham Maslow
- Daniel Pink
Module 4 Graded Quiz: Introduction to Project Risk Management
1. A project team is beginning the project risk management process and
wants to start by identifying risks. The project manager states that
before identification, it is necessary to perform which of the following
steps?
- Control
- Plan
- Respond
- Analyze
2. Which of the following stakeholder roles supports project risk
management by approving the risk management plan for the project and
approving, designating, and authorizing reserves if a risk response
requires funding?
- Risk owner
- Core team member
- Project manager
- Sponsor
3.
Which of the following statements is most accurate regarding project risk
management?
- Project risk management conditions will change over the project course
- All risks should be managed on an equal and consistent basis in project risk management
- Risk identification is a critical first step in project risk management
- Project risk management focuses on the mitigation of threats
4. A team is managing a critical construction project. A contractual risk
impacting the project occurs. Which of the following is the correct
classification for this risk?
- Issue
- Defect
- Problem
- Mitigation
5. A methodology to define risks recommends documentation using a cause,
event, and impact format. What is this methodology referred to as?
- CEI formatting
- Risk definition format
- Risk metalanguage
- Impact analysis
6. Risk identification is critical to overall project success. Which is
the most important skill a project manager should try to improve to
increase effectiveness?
- Leadership
- Influencing
- Facilitation
- Negotiation
7. This document contains different sections which include: Risk
management team, Definitions of probability and impact, Probability and
impact matrix, Risk reassessment schedule, Risk contingency reserves, and
Clarification and comments. What is this document called?
- Risk dictionary
- Risk register
- Risk management plan
- Risk breakdown structure
8. A project manager is referencing a document that lists potential risks
that may impact projects broken out by category. This list is derived from
lessons learned that document past risks on previous projects. Which of
the following is this list called?
- Risk breakdown structure
- Risk management plan
- Risk reference list
- Risk register
9. A project team completes a project with a budget of $20,000. The
project’s actual costs were $20,300. According to PMI, this is a failed
project. How could project failure due to ending the project over budget
have been avoided?
- Add contingency reserves
- Define risk thresholds
- Add management reserves
- Define risk appetite
10. Review this illustration. What does this illustration graphically
display?
- Risk trends
- Risk score
- Risk variation
- Risk exposure
Module 5 Graded Quiz: Respond and Monitor Risk
1. The project team is managing a complex infrastructure development
project. They need to respond to many positive and negative risks. The
team suspects that the project manager will need to outsource some of
these risks to a third party. Which two response strategies are
appropriate for these risks?
- Enhance
- Mitigate
- Transfer
- Share
2. New regulatory guidance, which became effective this week, led to the
identification of numerous risks that may delay schedules on a housing
development project. The firm has no control over these regulations. What
is the most appropriate risk strategy to respond to these risks?
- Enhance
- Mitigate
- Avoid
- Exploit
3. Sanjay is developing a risk report to distribute to project
stakeholders. What category of risks does the risk report typically
include?
- Near-term risks
- Urgent risks
- Watch list risks
- Critical risks
4. A recently completed risk audit discloses several new risks resulting
from implementing a risk response. The response attempts to mitigate a
legal condition that led to potential fines. The response needs to be
revised. Some fines are prevented, but other fines are incurred. The
project manager documents a new risk because of this response failure. The
team determines that the updated response could lead to new legal
ramifications if executed. What two ways would you categorize these new
risks?
- Residual
- Watch
- Secondary
- Urgent
5. Unknown risks continue to catch the team by surprise. They develop a
problem statement, brainstorm causes, select primary causes, and develop
solutions. Which risk management tool is the team using in this scenario?
- Root cause analysis
- Delphi technique
- Assumption analysis
- Brain writing
6. A project manager conducts frequent brainstorming sessions to gather
marketing information on new product offerings. Stakeholders complain that
they need more time to prepare for these sessions and request an overview
of what the team would brainstorm a few days before each meeting. Which
technique would satisfy this need?
- Lessons learned
- Interviews
- Brain writing
- Root cause analysis
7. Which two statements are true regarding the need to perform periodic
risk reassessments?
- The project manager finalizes risk scores at the beginning of the project
- Risk owners may discover new risks or current risk updates
- All risks are known after risk planning
- The risk monitoring process may require updates
8. What is the primary purpose of a periodic risk audit?
- Evaluate the effectiveness of the monitor risk process
- Update the risk register as new risks are discovered
- Discover secondary risks and update the risk register
- Determine risk ownership and assign tasks
9. Project managers normally conduct risk audits during which project
lifecycle phase or process group?
- Affirm
- Monitoring and controlling
- Executing
- Planning
10. A project manager works with risk owners and the team to develop a
response to an environmental risk potentially impacting a project. The
team was unable to determine a response. What is the optimal risk strategy
at this point?
- Acknowledge
- Accept
- Consent
- Affirm