1.

Explain some basic principles of cost management, such as profits,

life cycle costs, tangible and intangible costs and benefits, direct and
indirect costs, reserves, and more.
- Cost management in projects: is the process of planning, estimating, tracking, and
controlling expenses to ensure the project is completed within the specified budget.
Here are explanations of the essential concepts:

- Profits: Represent the difference between revenues and costs, which is the primary goal
organizations strive for.

- Life Cycle Costs: Include all costs associated with the project throughout its life cycle, from
planning to disposal

Tangible and Intangible Costs and Benefits:

- Tangible Costs: Can be measured directly, such as the cost of resources.

- Intangible Costs: Difficult to measure, like the company's reputation.

Direct and Indirect Costs:

- Direct Costs: Costs that can be directly attributed to the project, such as equipment costs.

- Indirect Costs: Costs spread across several projects, such as electricity costs in the office.

- Reserves: Allocated to fund unforeseen risks that may arise during project execution.

2. Discuss why many IT professionals may ignore project cost

management and how this might affect project completion within
budget.
IT professionals often ignore project cost management due to their greater focus on
technical aspects and achieving quality, overlooking cost details. This neglect can lead to
exceeding the project's allocated budget, resulting in financial pressure on the
organization or necessitating scope or quality reductions to save costs.
3. Explain what happens during the project budgeting process.

The project budgeting process involves creating a comprehensive budget that includes all
expected costs for the project. This process includes:

- Cost Estimation: Calculating costs for each activity or resource.

- Cost Aggregation: Summing all costs to arrive at total costs.

- Budget Preparation: Allocating financial resources over time according to the project
implementation schedule.

- Reserves Allocation: Designating part of the budget to accommodate unforeseen costs.

- Budget Monitoring: Checking adherence to the budget and making adjustments as needed.

4. Why do you think scheduling issues often cause the greatest conflicts
in projects?

Scheduling issues cause conflicts because they directly impact all aspects of the project.
If a delay occurs in one activity, it affects subsequent activities and puts pressure on
resources, leading to conflicts in priorities and team commitments. Tight schedules
increase pressure on employees and can lead to decreased work quality.

5. Why is defining activities the first process related to project time

management? How does estimating resources for activities affect
duration estimation?

Defining activities is the first step in project time management because it helps identify
all necessary tasks to complete the project. Without accurately defining activities, it is
difficult to create a clear schedule. Next, estimating the resources required for each
activity (such as the number of personnel or equipment) directly affects the duration
estimation, as the quantity and quality of resources used can increase or decrease
execution time.

6. Explain the difference between estimating activity duration and

estimating the effort required to perform an activity.

- Estimating Activity Duration: Relates to the time needed to complete a specific activity,
including the total time required until completion, such as waiting and delays.

- Estimating Effort: Refers to the amount of work required from resources (such as
individuals or machines) to complete the activity. For example, a specific activity may
require 40 hours of work (effort) but be completed over two weeks (duration) if only one
person is working on it.

7. Explain the following scheduling development tools and concepts:

Gantt charts, Critical Path Method (CPM), PERT, and Critical Chain
Scheduling.

- Gantt Charts: Graphical representations that show activities and timelines for each
activity as horizontal bars. They are used to track project progress and identify deadlines.

- Critical Path Method (CPM): A technique used to identify activities that must be
completed on time to avoid delaying the project. It involves determining the longest path
of sequential activities in the project.

- Program Evaluation and Review Technique (PERT): Used to analyze activity durations
by estimating the time for each activity with optimistic, expected, and pessimistic times,
helping to manage uncertainty.

- Critical Chain Scheduling: Takes into account resource constraints and focuses on
activities that may cause delays due to limited resources, helping to optimize the schedule
and reduce delays.
8. What does project scope management involve, and why is good
project scope management important in IT projects?

- Project Scope Management involves defining and documenting project requirements

and objectives that must be met, as well as identifying the activities that need to be
executed to achieve project goals.

- Importance of Project Scope Management in IT: Helps avoid unauthorized scope

expansions (scope creep) and ensures adherence to required specifications, contributing
to achieving project goals efficiently without exceeding budget or delaying the schedule.

9. What does gathering project requirements include? Why is this often

challenging?

- Gathering Requirements involves communicating with stakeholders to understand their

needs and expectations for the project and documenting these requirements clearly. This
process includes techniques such as interviews, surveys, and joint workshops.

- Challenges often arise from the difficulty in accurately identifying needs due to the
ambiguity of some stakeholders' requirements, changes that may occur over time, and the
challenge of balancing multiple requirements and prioritizing them.

10. Discuss the process of defining project scope in more detail as the
project progresses, starting from the project charter to the scope
statement, Work Breakdown Structure (WBS), and WBS Dictionary.

- Project Charter: A document created at the outset that includes the overall objective of
the project and the key parties involved.
- Scope Statement: Defined after creating the project charter, it includes more detailed
information about activities and expected goals.

- Work Breakdown Structure (WBS): Breaks down the project into smaller components
for easier and more detailed task management.

- WBS Dictionary: Provides a detailed description of each element in the WBS and
contains information such as associated activities, required resources, and acceptance
criteria, helping clarify each part to ensure precise project execution.

11. Explain different methods of developing a Work Breakdown

Structure (WBS) and why this can be challenging.

- Common Methods for Developing WBS:

- Top-Down Approach: Begins by breaking the project into main components and then
detailing each component until reaching the fundamental activities.

- Organizational Approach: Used to develop WBS based on the company structure,

where the project is divided according to the responsible units or teams.

- Template Method: Using WBS templates from similar past projects.

- Challenges in Developing WBS: Lie in balancing the level of detail required without
becoming overly granular, which complicates management. There is also the challenge of
ensuring that activities do not overlap or get omitted.

12. Explain project integration management. How does project

integration management relate to the project life cycle, stakeholders,
and other knowledge areas in project management?

- Project Integration Management involves coordinating all project aspects, from

planning to closure, to ensure objectives are met.
- Relation to Project Life Cycle: Helps ensure that all processes and outputs align with
project requirements across life cycle stages, from start to finish.

- Stakeholders: Works to unify stakeholder visions and integrate their expectations into a
single project plan, contributing to achieving consistency and alignment.

- Other Knowledge Areas: Integrates with areas such as time, cost, and scope
management to ensure all elements work harmoniously to achieve overall project goals.

13. Provide a brief description of the strategic planning process,

including SWOT analysis. What method do you think organizations
often use to justify IT projects?

- Strategic Planning: The process of defining the organization's long-term vision and
goals and identifying actions necessary to achieve those goals.

-SWOT Analysis: A tool for analyzing Strengths, Weaknesses, Opportunities, and Threats
for the project or organization.

- Common Methods for Justifying IT Projects:

- Cost-Benefit Analysis: Balancing project costs against its benefits.

- Return on Investment (ROI): Evaluating how well the project generates profits that
justify its costs.

- Net Present Value (NPV): Determining the future value of net cash flows.

14. Summarize the core work involved in each of the six processes of
project integration management.
The six processes are:

- Develop Project Charter: Formulating a document that initiates the project and defines
its core objectives.

- Develop Project Management Plan: Creating a comprehensive plan that contains all
elements of project management.

- Direct and Manage Project Execution: Implementing activities to ensure project

objectives are achieved.

- Monitor and Control Work: Tracking performance to ensure adherence to the plan and
making adjustments as necessary.

- Perform Integrated Change Control: Managing potential changes and assessing their
impact on the project.

- Close Project or Phase: Completing all activities and ensuring objectives are met before
project closure.

15. Provide a brief description of what happens in each of the five

process groups of project management (initiating, planning, executing,
monitoring and controlling, closing). What types of activities are
performed before the project starts?

- Five Process Groups:

- Initiating: Identifying the project's scope and objectives and determining key
stakeholders.

- Planning: Developing plans for managing time, cost, scope, quality, and risks.
 - Executing: Carrying out the activities outlined in the project plan and directing the
team.

- Monitoring and Controlling: Tracking project progress and ensuring alignment with
plans.

- Closing: Completing all activities and preparing final reports to ensure project
requirements are met.

- Activities Performed Before Starting a Project: Include feasibility studies, creating the
project charter, identifying resources and stakeholders, and ensuring executive support
for the project.

16. What are some key outputs for each process group?

- Initiating:
- Project Charter: An official document that greenlights the project and defines its core
objectives.
- Stakeholder Register: A list of key stakeholders and their expectations and needs.
- Planning:
- Project Management Plan: A comprehensive plan that includes time, cost, scope, quality, and
risk management plans.
- Scope Management Plan, Work Schedule, and Cost Estimates: Detail the execution of the
project.
- Executing:
- Project Deliverables: Specific products or services delivered according to project requirements.
- Performance Reports: Provide information on project progress compared to the plan.
- Monitoring and Controlling:
- Performance Monitoring Reports: Used to assess project progress and adjust deviations.
- Change Requests: Any requests to modify scope, schedule, or costs.
- Closing:
- Final Project Documentation: Includes all information detailing the project completion.
 - Final Evaluation: A review to identify lessons learned from the project and document best
practices.

17. What are some challenges project teams typically face during each
of the five process groups?

- Initiating:
- Challenges in Defining Scope and Objectives: Accurately identifying objectives can be
difficult due to differing stakeholder expectations.
- Securing Management Support: Ensuring commitment from management and funding.
- Planning:
- Estimating Time and Costs: Difficulty in accurately estimating these factors.
- Identifying Potential Risks: Planning for potential risks requires foresight and can be a
significant challenge.
- Executing:
- Team Coordination: Communication and coordination challenges may arise among team
members.
- Change Management: Managing requested changes from stakeholders during execution.
- Monitoring and Controlling:
- Managing Variances: Dealing with discrepancies between the plan and actual performance.
- Ongoing Communication: The need for continuous updates to stakeholders can be challenging.

- Closing:
- Documenting Lessons Learned: Compiling lessons learned and sharing knowledge with the
team can require time and effort.
- Ensuring Requirements Are Met: Guaranteeing all stakeholder requirements are fulfilled
before project closure.

18. Explain the four frames of organizations. How can these

frameworks help project managers understand the organizational
context of their projects?
- Structural Frame: Focuses on roles, responsibilities, and organizational structures. It helps
project managers understand formal communication and decision-making channels.

- Human Resources Frame: Concentrates on individuals and their relationships. It aids in

understanding team members' needs and how to motivate them for satisfaction.

- Political Frame: Centers on power dynamics and conflicts. It helps identify influential
stakeholders and avoid potential conflicts.

- Symbolic Frame: Emphasizes culture, values, and symbols. It helps project managers
understand the organization's culture and present the project in a way that aligns with its values.

These frameworks provide project managers with a broader perspective on how to interact with
the organization and manage the project in alignment with the internal environment.

19. Explain the difference between functional, matrix, and project-

oriented organizations. How does each structure affect project
management?

- Functional Organizations: Employees are organized by their areas of expertise (such as

marketing or engineering), with authority resting with functional managers. Projects here rely
more on functional departments.

- Matrix Organizations: Features a functional structure integrated with project teams. Employees
receive guidance from both functional managers and project managers, enhancing collaboration
but potentially causing authority conflicts.

- Project-Oriented Organizations: Most resources are dedicated to project management, with the
organizational structure centered around projects rather than functions, allowing greater flexibility
in resource allocation.

Each structure affects resource allocation, communication methods, and responsibility definitions,
with project-oriented organizations offering more flexibility, while functional organizations
provide more centralized control.
20. Explain how organizational culture relates to project management.
What type of culture fosters a strong project environment?

- Organizational Culture: A set of values, habits, and practices that define how individuals operate
within the organization.

- Importance of Culture in Project Management: It affects interactions among team members,

receptiveness to change, and risk management approaches.

- Culture that Fosters a Strong Project Environment:

- Collaborative Culture: Encourages open communication and support among individuals.

- Performance-Driven Culture: Focuses on achieving goals and encourages innovation.

- Flexible and Change-Accepting Culture: Facilitates the implementation of new projects and
supports innovation and streamlining changes.

A positive and supportive organizational culture enhances performance and project management
effectiveness.

21. Define globalization, outsourcing, and virtual teams, and explain how these trends affect IT
project management.

- Globalization: The integration of markets and economies worldwide, leading to greater

interaction and collaboration among companies across borders.

- Outsourcing: The practice of transferring certain activities or services to external vendors to

improve efficiency and reduce costs.

- Virtual Teams: Teams that rely on technology for collaboration among members located in
different parts of the world.
Impact on IT Project Management:

- Globalization: Enables companies to access global talent and diversify teams but increases
cultural complexity and time zone challenges.

- Outsourcing: Helps provide necessary resources for projects at lower costs but can lead to
challenges in quality control and communication management.

- Virtual Teams: Offer greater flexibility and expand available skill sets but require effective
communication management to avoid misunderstandings.

22. Why is there renewed or increased interest in project management?

There is a growing interest in project management due to:

- Increasing Complexity of Projects: With technological advancements and processes, projects

have become more complex, requiring precise management skills.

- Achieving Efficiency and Cost Savings: Good project management can help companies reduce
costs and improve efficiency, resulting in better returns on investment.

- Rapid Changes in Work Environment: Modern markets require flexibility and speed in project
execution to gain a competitive advantage.

- Focus on Delivering Results: Companies are realizing that project management is a tool for
achieving strategic objectives.

23. What is a project, and what are its main characteristics? How does a
project differ from what most people do in their daily jobs? What is the
triple constraint?

- Project Definition: A temporary endeavor undertaken to create a unique product, service, or

result.
- Main Characteristics of a Project:

- Temporary: Has a defined beginning and end.

- Unique: Produces something unique and non-repetitive.

- Requires Planning and Organization: To ensure goals are achieved within defined resources.

- Difference from Daily Work: Daily work is typically ongoing and repetitive, while projects are
temporary and focused on achieving specific objectives.

- Triple Constraint: Includes time, cost, and scope. Any change in one of these constraints will
affect the others, and all three factors must be balanced to ensure project success.

24. What is project management? Provide a brief description of the

project management framework, including examples of stakeholders,
knowledge areas, tools and techniques, and factors for project success.

- Project Management: The process of planning, organizing, and managing resources to achieve
specific project objectives.

- Project Management Framework:

- Stakeholders: Such as clients, suppliers, and team members.

- Knowledge Areas: Such as scope, time, cost, quality, human resources, and risk management.

- Tools and Techniques: Such as Gantt charts, risk analysis, and critical path method.

- Success Factors: Include having a clear plan, management support, availability of necessary
resources, and effective risk management.
This framework helps guide the project manager toward achieving the required objectives and
ensuring stakeholder satisfaction.

25. What is a program, and what is a project portfolio? Discuss the

relationship between projects, programs, and portfolio management,
and how they contribute to organizational success.

- Program: A group of related projects managed in a coordinated manner to achieve shared

benefits and objectives.

- Project Portfolio: A collection of projects and programs managed collectively to achieve the
strategic objectives of the organization.

Relationship:

- Projects are individual components that collaborate to achieve a specific goal.

- Programs encompass multiple projects and work towards achieving specific strategic objectives.

- Portfolio Management ensures effective resource allocation for projects and programs that align
with organizational priorities and objectives, contributing to overall organizational success.

These relationships enhance efficiency, ensure alignment with strategic goals, and ensure
resources are invested in the most critical projects.