BSBPMG522 Undertake Project Work

General Knowledge Questions:

1.Why is gathering requirements important in project management? Identify and describe 5 reasons.

2.People who are involved in or affected by project activities are? (underline the correct response)
a.project mangers
b.project stakeholders
c.project steering committee
d.organisational employees

3.Who could be the project sponsor? (underline the correct response)
a.a company financially supporting then project
b.a group of company stakeholders
c.a key stakeholder who is responsible for reporting on the outcomes of the project
d.a key stakeholder who has developed the idea for the project and is responsible to make funds available for the project

4.What are the benefits of Quality Assurance over Quality Control?

5. Sometimes it may be important to compress your project schedule. Describe two techniques that could be applied to compress a project schedule. Clearly identify why each might be required and what effect they will have on project cost/time/quality,

6.The project Control Change Process could require two approval points. Explain the reason for this approach.

7.What is the difference between residual risk and a risk contingency?

8.A project expected duration is 12 months and the current budget (BAC) is $240,000. The planned value profile for this project is linear (spending is the same month after month). After seven months the project figures are: CPI=0.9, SPI=0.95. Calculate the project Actual Cost (AC) after 7 months.