1314 Expectations For Gbs Projects And Programs Knowledge Check
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What is the next step in the GBS portfolio journey?
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Portfolio Governance
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Portfolios Captured
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Portfolio Choice Making
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Centralized GBS Portfolio
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In order to pass the Knowledge Check, you must score at least 80%.
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- 2.
In the future, who will be able to authorize (i.e. has the “A”) to decide that a project should start?
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The project manager
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The back office team
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Service Category Lead Team
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PPL
Correct Answer
A. Service Category Lead TeamExplanation
The Service Category Lead Team will be able to authorize the start of a project in the future. This implies that they have the authority to make decisions regarding project initiation.Rate this question:
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- 3.
Who has final authority on making program tiering official?
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My Director
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My VP
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Filippo
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The CLT Portfolio Board
Correct Answer
A. The CLT Portfolio BoardExplanation
The CLT Portfolio Board has the final authority on making program tiering official. This means that they are responsible for making the final decision and approving the program tiers. They have the power to determine which programs should be classified under which tier and ensure that the tiering process is official and valid.Rate this question:
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- 4.
Which of the following are “regularly” updated by the PM in PPMC?
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FFA Scores
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Tier
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Reference data
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Health Status
Correct Answer
A. Health StatusExplanation
The PM in PPMC regularly updates the Health Status.Rate this question:
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- 5.
Which of the following will NOT be true after the new simplified project form is introduced into PPMC?
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PMs will have less data to enter when a project is created
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IMR Lifecycle projects will no longer be entered into PPMC
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PMs will have fewer fields to maintain on projects
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Lead teams will have more control of which projects are authorized in PPMC
Correct Answer
A. IMR Lifecycle projects will no longer be entered into PPMCExplanation
After the new simplified project form is introduced into PPMC, IMR Lifecycle projects will no longer be entered into PPMC. This means that these specific types of projects will not be included or recorded in PPMC anymore.Rate this question:
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- 6.
Which is NOT a characteristic of portfolio choicemaking?
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GBS makes choices about what we should work on
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Anyone can choose to start a project
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GBS reevaluates choices based upon the current reality both inside and outside the projects
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GBS leaders sign off on all new projects
Correct Answer
A. Anyone can choose to start a projectExplanation
The characteristic of portfolio choicemaking that is NOT mentioned in the given options is that "Anyone can choose to start a project." In portfolio choicemaking, the decision of what projects to work on is typically made by GBS (Global Business Services) based on various factors such as strategic goals, resource availability, and market conditions. It is not a free-for-all where anyone can independently decide to start a project without any oversight or evaluation.Rate this question:
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- 7.
Who cares about Tier 2 projects (in terms of how we characterize that tier)?
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AG
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Filippo
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CLT
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Directors
Correct Answer
A. CLTExplanation
The CLT (Core Leadership Team) cares about Tier 2 projects in terms of how they are characterized. This implies that the CLT plays a significant role in determining the importance and priority of Tier 2 projects within the organization.Rate this question:
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- 8.
Which of the following is true about project tiering?
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The PM can assign any tier to their own project
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The program manager can assign any tier to their own project
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The project tier cannot be higher than the tier of its program
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The lead service Director can assign any tier to a project in their organization
Correct Answer
A. The project tier cannot be higher than the tier of its programExplanation
Project tiering refers to the categorization of projects based on their importance, complexity, and strategic value. The correct answer states that the project tier cannot be higher than the tier of its program. This means that a project cannot be assigned a higher tier than the program it belongs to. This is logical because the program represents a higher level of organizational structure and oversight, and the projects within the program should align with its overall tier.Rate this question:
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- 9.
How often should a PM update their record in PPMC?
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Once per month before the DQR report is run
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Once anytime per month
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Whenever the PM feels like it
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Whenever something changes
Correct Answer
A. Whenever something changesExplanation
The correct answer is "Whenever something changes". This is because updating the record in PPMC should be done whenever there is a change in the project, such as a new task being added, a task being completed, or any other relevant information that needs to be recorded. It is important to keep the record up to date to ensure accurate and current information is available for project management and reporting purposes.Rate this question:
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- 10.
Which of the following is not valid to appear in a Tier 2 program?
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A tier 1 project
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A tier 2 project
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A tier 3 project
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A WBS Element
Correct Answer
A. A tier 1 projectExplanation
In a Tier 2 program, only Tier 2 projects, Tier 3 projects, and WBS Elements are valid to appear. A Tier 1 project is not valid to appear in a Tier 2 program.Rate this question:
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- 11.
Which programs require benefits and ongoing costs to be entered in FMC?
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ALL programs
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All Tier 0, 1, and 2 programs
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All Tier 1, 2, and 3 >$500M
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All discretionary programs
Correct Answer
A. All Tier 1, 2, and 3 >$500MExplanation
All Tier 1, 2, and 3 programs that have a budget of more than $500 million require benefits and ongoing costs to be entered in FMC. This means that these programs, regardless of their tier level, must provide information about the benefits they will deliver and the ongoing costs associated with their implementation in the FMC system.Rate this question:
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- 12.
Which of the following is NOT true regarding FMC?
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Consolidate CRP/DI Funding requests on a project/assets for the same CC.
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The deadline for Expense and Funding requests is the 7th calendar day at 11:59pm EST of the preceding month.
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Funding requests will be rejected after 30 days if not approved.
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You shouldn't change data for “closed” months in PPMC.
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Give BU Approver a heads up on significant funding requests if they may not be familiar with the project.
Correct Answer
A. The deadline for Expense and Funding requests is the 7th calendar day at 11:59pm EST of the preceding month. -
- 13.
From a project spending forecast accuracy standpoint, what should your target be? (actuals vs. PC)
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Between 95 to 105 index
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The lower your spending is, the better
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Below 105 index
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Between 80 and 120 index
Correct Answer
A. Between 95 to 105 indexExplanation
Your target for project spending forecast accuracy should be between 95 to 105 index. This means that your forecasted spending should be within 5% lower or 5% higher than the actual spending. This range allows for a reasonable margin of error while still ensuring a relatively accurate forecast.Rate this question:
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- 14.
Which of the following is NOT true regarding CRP management?
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Secure Funding Approvals ahead of committing spend
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Project funding within FMC – align with Lead Service Line
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You only need to worry about managing CRP during one of the 5 forecast months
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After April 1st, only authorize spending that can be used by the end of the FY
Correct Answer
A. You only need to worry about managing CRP during one of the 5 forecast monthsExplanation
The statement "You only need to worry about managing CRP during one of the 5 forecast months" is not true regarding CRP management. CRP, which stands for Capital Resource Planning, is a process that involves planning and managing the allocation of financial resources for projects. It is important to continuously monitor and manage CRP throughout the year, not just during the forecast months. This ensures that funds are properly allocated and utilized for the intended projects.Rate this question:
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- 15.
When should a PO GR (purchase order goods receipt) be entered?
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Only between the 1st and 5th working day of every month
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When the service is confirmed as delivered
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When you have received the invoice
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Anytime before the end of the FY, so that expenses are accurate for the year
Correct Answer
A. When the service is confirmed as deliveredExplanation
A PO GR (purchase order goods receipt) should be entered when the service is confirmed as delivered. This means that the goods or services ordered through a purchase order have been received and verified as being delivered according to the agreed-upon terms. This step is important to ensure that the procurement process is properly documented and that the organization's inventory and financial records are accurate.Rate this question:
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- 16.
Sometimes project teams will find ways to save money when delivering a project. Which of the following is NOT true regarding savings?
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If the savings are driven by running the project more efficiently, then the savings can go to GBS up to 20% of the project’s total costs.
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If you save less than 20% on a project, the savings goes to GBS
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For CfG projects, move the savings to the distributed cost element in FMC
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If the savings are driven by a scope change that requires buy in from the customer, then related savings should automatically go to the customer
Correct Answer
A. For CfG projects, move the savings to the distributed cost element in FMC -
- 17.
Which of the following is NOT true regarding portfolio optimization analysis?
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Enables businesses to make choices between projects earlier
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Provides a comparative evaluation of all projects, leading to resource allocation choices
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Enables dynamic decision-making
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It should not be linked to the business strategy
Correct Answer
A. It should not be linked to the business strategyExplanation
Portfolio optimization analysis should be linked to the business strategy. This is because portfolio optimization aims to align the project selection and resource allocation with the overall strategic goals of the business. By linking the analysis to the business strategy, organizations can ensure that the selected projects contribute to the achievement of their strategic objectives and maximize the value of the portfolio.Rate this question:
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- 18.
Which of the following is NOT true regarding benefits?
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It should be entered into FMC by the Program Manager
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It should be entered into FMC by the Finance Manager
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It should be calculated at the program level, but then entered into FMC under one project
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It should be entered as incremental vs. the base year
Correct Answer
A. It should be entered into FMC by the Program ManagerExplanation
Benefits should not be entered into FMC by the Program Manager.Rate this question:
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- 19.
Which of the following is NOT true regarding contingency?
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Contingency is to be used for risks that materialize or variability in our cost/schedule estimates
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Project contingency should be used to protect against new project scope
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Project contingency should decline as the year progresses
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Higher risk projects should carry more contingency
Correct Answer
A. Project contingency should be used to protect against new project scopeExplanation
Project contingency should be used to protect against new project scope. Contingency is typically used to account for risks and uncertainties that may impact the project's cost or schedule estimates. It is meant to cover unexpected events or variations in the project's execution. However, project scope changes are usually managed through a separate process, such as change management, and should not be covered by project contingency. Therefore, it is not true that project contingency should be used to protect against new project scope.Rate this question:
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- 20.
Which of these is NOT GBS Project/Program Success Measures?
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QoD
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Client Aligned Success (CAS)
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On Time
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On Cost
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On Quality
Correct Answer
A. QoDExplanation
QoD (Quality of Delivery) is not a GBS Project/Program Success Measure. The other options mentioned in the question, such as Client Aligned Success (CAS), On Time, On Cost, and On Quality, are all measures that are commonly used to assess the success of GBS projects or programs. However, QoD is not typically considered as a specific success measure in the context of GBS projects/programs.Rate this question:
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- 21.
How are On Time and On Cost measures tracked?
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PM tracks cost and timing in an Excel template
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The PPLs track them
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On Time and On Cost are automatically calculated in PPMC
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The Finance Managers track them
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On Quality
Correct Answer
A. On Time and On Cost are automatically calculated in PPMC -
- 22.
Where can you go to get help on Portfolio processes, PPMC and FMC?
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Email gbsportfolio.im
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IM gbsportfolio.im
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GBS portfolio user PGPulse community
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Your PPL
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All of the above
Correct Answer
A. All of the aboveExplanation
All of the options provided - Email gbsportfolio.im, IM gbsportfolio.im, GBS portfolio user PGPulse community, and Your PPL - are places where you can go to get help on Portfolio processes, PPMC, and FMC.Rate this question:
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- 23.
Where can you go to get help on Project and Program Management?
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PM CoE Library website
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Submit a question to the PM CoE Librarian
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Contact an Advanced/Master PM
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Your PPL
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All of the above
Correct Answer
A. All of the aboveExplanation
All of the options mentioned (PM CoE Library website, submitting a question to the PM CoE Librarian, contacting an Advanced/Master PM, and consulting your PPL) are sources where one can seek help on Project and Program Management.Rate this question:
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- 24.
Which of these are NOT decision factors when determining whether the GBS Program Management Methodology applies?
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When the focus is on delivering strategic objectives and benefits
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When delivering multiple new capabilities
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When leading something identified as a Program in PPMC
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When a new solution will be deployed to multiple sites
Correct Answer
A. When a new solution will be deployed to multiple sitesExplanation
The GBS Program Management Methodology applies when the focus is on delivering strategic objectives and benefits, when delivering multiple new capabilities, and when leading something identified as a Program in PPMC. However, it does not apply when a new solution will be deployed to multiple sites.Rate this question:
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- 25.
Which project management core best practices are a priority for 13/14?
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Scope, requirements, cost and schedule/time
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Scope, requirements and risk
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Scope, requirements and contingency
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Scope, requirements, gating and procurement
Correct Answer
A. Scope, requirements, cost and schedule/timeExplanation
The project management core best practices that are a priority for 13/14 are scope, requirements, cost, and schedule/time. These four factors are crucial for successful project management as they ensure that the project stays within its defined scope, meets the necessary requirements, stays within the allocated budget, and adheres to the planned schedule. By prioritizing these core best practices, project managers can effectively manage and control the project's scope, cost, and schedule, leading to successful project completion.Rate this question:
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- 26.
In traditional project management, which of these should ideally be defined first?
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Schedule and due date
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Budget
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Scope and requirements
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Risk management plan
Correct Answer
A. Scope and requirementsExplanation
In traditional project management, defining the scope and requirements should ideally be done first. This is because the scope and requirements determine the overall goals and objectives of the project, as well as the specific deliverables and features that need to be included. Once the scope and requirements are clearly defined, it becomes easier to plan the schedule and due dates, allocate the budget, and develop a risk management plan. Without a clear understanding of the scope and requirements, it would be difficult to effectively manage the project and ensure its successful completion.Rate this question:
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- 27.
What are the 4 types of requirements in the GBS Requirements Management Framework?
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User, solution, non-functional, transition
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User, functional, non-functional, transition
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Business, user, functional, non-functional
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Business, user & stakeholder, solution, transition
Correct Answer
A. Business, user & stakeholder, solution, transitionExplanation
The GBS Requirements Management Framework categorizes requirements into four types: business requirements, user and stakeholder requirements, solution requirements, and transition requirements. Business requirements are the high-level objectives and goals of the organization. User and stakeholder requirements focus on the needs and expectations of the end-users and other stakeholders. Solution requirements define the specific features and functionalities of the proposed solution. Transition requirements address the activities and tasks needed to successfully implement the solution.Rate this question:
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- 28.
What is the recommended tool for managing project schedules?
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Excel
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PowerPoint
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MS Project
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None of the above
Correct Answer
A. MS ProjectExplanation
MS Project is the recommended tool for managing project schedules because it is specifically designed for this purpose. Unlike Excel and PowerPoint, which are more general-purpose tools, MS Project offers features and functionalities that are tailored for project management, such as creating and managing tasks, assigning resources, tracking progress, and generating reports. It provides a comprehensive and efficient way to plan, schedule, and monitor projects, making it the preferred choice for project managers.Rate this question:
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- 29.
When should a project complete iRisk and Pre-Launch Assessment?
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IRisk should be completed before PC and Pre-Launch Assessment by LPA
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IRisk should be completed by PE and Pre-Launch Assessment by LPA
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IRisk should be completed by PE and Pre-Launch Assessment by LA
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IRisk should be completed by LPA and Pre-Launch Assessment by LA
Correct Answer
A. IRisk should be completed by PE and Pre-Launch Assessment by LPA -
- 30.
What is the standard GBS tool that spells out all the expectations to be met and alignments needed prior to a project gate?
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Master Gate Readiness Checklist
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IRisk
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Gate review
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GBS Requirements Management Framework
Correct Answer
A. Master Gate Readiness ChecklistExplanation
The Master Gate Readiness Checklist is the standard GBS tool that outlines all the expectations and alignments required before a project gate. It provides a comprehensive list of tasks and criteria that need to be met in order to ensure readiness for the next phase of the project. This checklist helps to ensure that all necessary preparations and requirements are in place before proceeding to the next stage, minimizing risks and ensuring smooth project progression.Rate this question:
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- 31.
With whom should a PM share After Action Learnings with?
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PM CoE Librarian
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Service Managers / Service Category lead team
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Project team
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Other PMs in the PM's organization
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All of the above
Correct Answer
A. All of the aboveExplanation
A PM should share After Action Learnings with all of the mentioned stakeholders because each group plays a different role in the project. The PM CoE Librarian can use the learnings to update the organization's knowledge base. Service Managers and Service Category lead team can benefit from the learnings to improve service delivery. The project team can learn from the experiences to enhance future projects. Other PMs in the organization can gain insights and lessons from the learnings. By sharing with all of these groups, the PM ensures that the learnings are disseminated widely and can be applied effectively.Rate this question:
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Aug 09, 2024Quiz Edited by
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Oct 18, 2013Quiz Created by
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