A project manager is performing quantitative risk analysis. What tangible result is likely to be produced?
You are the director of the PMO for your organization. Terri, an employee from another department, has approached you about a new project that is being talked about in her department. Terri would like the opportunity to head up this project and wants to convince you of her knowledge of project management and that she can do this job. Terri’s objective statement for the project says the following: “Convert all our distribution centers in the United States to radio frequency identification (RFID) tags. This new technology will improve inventory management by giving us a real-time view of demand for the products we sell. It will also help reduce theft and reduce stock-outs. The electronic identification stored in the tags should be fixed. This new technology will require the installation of readers at each warehouse gate.” Which of the following statements are correct regarding Terri’s objective statement?
You are a project manager for Lightning Bolt Enterprises. Your new project involves the research and development of a new type of rechargeable battery. One of your stakeholders requests a change to the product scope description. The stakeholder has filled out a change request form indicating that the change affects the project scope and that it’s essential for a successful project. The change request is approved, and the project scope statement is updated to reflect this change. Which of the following statements are true?
You work within a project management office, and the new PMO director has adjusted project assignments to accommodate a large strategic project that the company has undertaken. You sit down with the previous project manager of your new project to review stakeholder communication requirements, escalation processes, and the list of project-related meetings. What document will you use to get this information?
A project manager facilitated a meeting with the product manager and project team to discuss the results of the latest iteration. As part of the meeting, the project manager also reviewed the budget consumed to date on the project, highlighting appraisal costs. Which of the following best describes appraisal costs?