Project Management 293NOPRV518B Midterm Exam Info

1. What is a project/program/portfolio?
2. What is the major difference between project work and normal, everyday operation?
3. What kind of works are typically done in the form of a project? (examples, project types)
4. What are the 6 constraints of projects?
5. How to handle changes regarding the 6 constraints? (steps)
• First look for the impact of the change on the project, regarding the 6 constraint (scope,
time/schedule, resources, etc.) There might be various impacts, like eg. slippage, cost
increase, etc.
• Identify possible interaction/solution scenarios like in the example I told you during the
lecture: If you should reduce the project duration, scenario 1 is to add resources, scenario 2
is to reduce scope.
• Analyze the different scenarios’ impacts on all project constraints. Eg. adding more
resources increases cost, some new risks can emerge (like eg. new resources may need
training time to work properly, etc.).
• Compare the scenarios’ impacts, and based on that make a conscious decision which to
choose.
• Plan the interaction.
• Implement the plan.
6. What are the major characteristics of a waterfall/hybrid/agile project?
7. List the knowledge areas described in the PMBOK Guide®!
8. What are the process groups in the predictive project life cycle?
9. What can be a milestone?
10. Who are the project stakeholders? Mention some key stakeholders who are usually present in
projects!
11. What is a stakeholder map? Give an example for its possible dimensions (axis).
• We talked about that during the last seminar, but I think there was one version included in
Laszlo’s second presentation.
• It is basically a visual representation of what we think about the stakeholders of the project in
terms of map’s dimensions. A popular version is an influence and support matrix.

12. What are the levels of a project goal hierarchy? Be able to give an example for a selected project.
13. Who can be a project sponsor, what does he/she do?

Prepared by Zoltán Török

 Project Management 293NOPRV518B Midterm Exam Info
14. What are key operative management roles in agile, Scrum project?
15. Mention some possible functions of a PMO!
16. What are the major characteristics of a functional/balanced matrix/projectized organization?
17. Organizational process assets are internal factors that influence projects. List 3 of them.
18. Enterprise environmental factors are external factors that influence projects. List 3 of them.
19. List 5 key success factors of projects!
20. Mention 3 key element of a project management plan!
21. What are the major steps of a schedule & resource plan development?
22. What is a WBS?
23. What types of logical relationships can we find in projects?
24. What is a network diagram?
25. Concerning activity relationships, what does „FF+1 day” means? And „FS-20%” ?
References: “Corvinus Project Management - Goals & Schedule & Resource Planning” pdf, slide 34,
“Corvinus Project Management - Additional slides for scheduling - Cost management” pdf, slide 4.
It is true, that we did not discuss the % version. Therefore, look at this:

26. Be able to calculate the critical path in an activity network!

27. What is early start/late start/early finish/late finish of an activity?
28. How can you calculate early and late start and finish data in an activity network?
29. What does „float” mean in project context?
30. How can you calculate (total) float of an activity? Be able to do that in a simple activity network!
31. How can you assess the future actual duration of a task using a three-point estimate? (formula)
Reference: The pdf for scheduling. Read it carefully: O (or tO) means optimistic duration of the task,
M (or tM) stands for the most likely duration, and P (or tP) means the pessimistic duration, a worst
case scenario.
32. What are the main areas of planned and actual data comparison during project monitoring?
Reference: “Corvinus Project Management - Monitoring and controlling” pdf, slide 5, 6.
33. What are the benefits of using predefined templates and checklists when doing monitoring-
controlling?
34. What is a Pareto diagram?
35. What is the 5M method in problem analysis?

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 Project Management 293NOPRV518B Midterm Exam Info
36. What is the 5 why method? Be able to create a simple cause & effect diagram!
37. What are cockpit charts used for?
38. How can you define earned value in a project management context?
39. What is the earned value management used for?
40. Know the meaning and calculation formula for EV, PV, AC, SV, CV, SPI, CPI. Be able to use them.

Prepared by Zoltán Török