Project Management Traditional (Predictive) Project Management Syllabus

Traditional (Predictive) Project Management syllabus — full chapter and topic list

Expand any chapter to see its topics and sub-topics. This is the whole examinable outline for Traditional (Predictive) Project Management in Project Management, not a summary of it.

1. 1

   Project Initiation

   3 topics

   • Developing the Project Charter
   • Identifying Stakeholders
   • Selecting Projects (NPV, IRR, Payback)
2. 2

   Scope Management

   4 topics

   • Collecting Requirements
   • Defining Scope
   • Work Breakdown Structure (WBS)
   • Validating and Controlling Scope
3. 3

   Schedule Management

   4 topics

   • Defining and Sequencing Activities
   • Network Diagrams and Dependencies
   • Estimating Durations
   • Developing the Schedule
4. 4

   Cost Management

   3 topics

   • Estimating Costs
   • Determining the Budget and Cost Baseline
   • Earned Value Management (EVM)
5. 5

   Quality Management

   3 topics

   • Planning Quality
   • Quality Assurance vs. Quality Control
   • Quality Tools
6. 6

   Procurement and Contract Management

   3 topics

   • Make-or-Buy Analysis
   • Contract Types
   • Conducting and Controlling Procurements

Traditional (Predictive) Project Management flashcards for Project Management

18 of 70 cards from the Traditional (Predictive) Project Management deck — real questions with worked answers.

1. What is the Project Charter, and what authority does it grant?

   The Project Charter is a document, issued by the project sponsor or initiator, that formally authorizes the existence of the project and gives the project manager the authority to apply organizational resources to project activities.

2. Which process group and knowledge area produce the Project Charter?

   It is produced by the 'Develop Project Charter' process, which belongs to the Initiating process group and the Project Integration Management knowledge area.

3. Name four key elements typically documented in a Project Charter.

   Any four of: project purpose/justification, measurable objectives and success criteria, high-level requirements, high-level risks, summary milestone schedule, summary budget, assigned project manager and authority level, and the name/authority of the sponsor.

4. What is a business case, and how does it relate to the Project Charter?

   The business case is a documented economic feasibility study used to justify the project; it is a key input to developing the Project Charter and establishes whether the project is worth the investment.

5. What is the purpose of the 'Identify Stakeholders' process?

   To identify all people, groups, or organizations that could impact or be impacted by the project, and to document relevant information about their interests, involvement, influence, and potential impact on project success.

6. What document records stakeholder identification information, and what does it contain?

   The stakeholder register. It contains identification information (name, role, contact), assessment information (requirements, expectations, influence), and stakeholder classification (internal/external, supporter/neutral/resistor).

7. Describe the power/interest grid used for stakeholder classification and the strategy for each quadrant.

   A grid plotting stakeholders by authority (power) and concern (interest): High power/High interest = Manage Closely; High power/Low interest = Keep Satisfied; Low power/High interest = Keep Informed; Low power/Low interest = Monitor.

8. What does Net Present Value (NPV) represent, and what is its selection rule?

   NPV is the present value of a project's cash inflows minus the present value of its cash outflows. Selection rule: accept a project if $NPV > 0$; when choosing among projects, select the one with the highest NPV.

9. Write the formula for Net Present Value (NPV).

   $$NPV = \sum_{t=0}^{n} \frac{C_t}{(1+r)^{t}}$$ where $C_t$ is the net cash flow in period $t$, $r$ is the discount rate, and $n$ is the number of periods.

10. What is the Internal Rate of Return (IRR), and what is its selection rule?

    IRR is the discount rate at which a project's $NPV = 0$. Selection rule: accept the project if $IRR$ exceeds the required rate of return (hurdle rate); when comparing projects, prefer the higher IRR.

11. Define the IRR mathematically.

    IRR is the rate $r$ that satisfies $$\sum_{t=0}^{n} \frac{C_t}{(1+r)^{t}} = 0$$

12. What is the Payback Period, and what is a key limitation of the metric?

    The Payback Period is the length of time required to recover the initial investment from net cash inflows. Key limitation: it ignores the time value of money and any cash flows occurring after the payback point.

13. A project costs $50{,}000 and returns $10{,}000 per year. What is its payback period?

    $$\text{Payback} = \frac{50{,}000}{10{,}000} = 5 \text{ years}$$

14. When selecting between two mutually exclusive projects, which financial metric is generally considered most reliable and why?

    NPV, because it measures the actual dollar value added, accounts for the time value of money, and (unlike IRR) does not suffer from problems with non-conventional cash flows or scale differences.

15. What is the purpose of the 'Collect Requirements' process?

    To determine, document, and manage stakeholder needs and requirements to meet project objectives; it provides the basis for defining and managing the project scope, including product scope.

16. Distinguish between product requirements and project requirements.

    Product requirements describe the features, functions, and characteristics of the product/service/result to be delivered. Project requirements describe the actions, processes, and conditions the project must meet (e.g., business, quality, and management requirements).

17. What is a Requirements Traceability Matrix (RTM) and what is its main benefit?

    The RTM is a grid that links each requirement to its origin and traces it through deliverables. Its benefit is ensuring every requirement adds business value and that each is delivered and validated, preventing scope gaps and unauthorized additions.

18. Name three data-gathering techniques commonly used to collect requirements.

    Any three of: interviews, focus groups, facilitated workshops (e.g., JAD), questionnaires/surveys, brainstorming, benchmarking, and document analysis.

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