Project Management & Execution Flashcards

In the triple constraint, if the scope of a trade surveillance project grows while the deadline stays fixed, what most likely has to change?

Answer: Cost or resources must increase, or quality may suffer

Scope, time and cost are linked, so more scope at a fixed time usually needs more cost or puts quality at risk.

A derivatives operations team keeps missing settlement milestones. Which tool would best help find the root causes?

Answer: Fishbone (Ishikawa) diagram

Fishbone diagrams sort possible causes into categories to find root causes.

Which task relationship is most common in project schedules, such as 'trade data mapping must finish before reconciliation testing can start'?

Answer: Finish-to-start

Finish-to-start, where the successor starts after the predecessor finishes, is the most common dependency.

The team adds unrequested analytics dashboards to a swap reporting tool, beyond the agreed scope. What is this practice called?

Answer: Gold plating

Gold plating means adding unrequested features, which wastes resources and adds risk.

A firm decides not to trade exotic derivatives in a new market because the operational risk is too high. Which risk response is this?

Answer: Avoid

Avoidance removes the risk completely by not doing the activity.

Which planning approach details near-term work and leaves later phases at a high level until more information is available, which is useful when regulations are still changing?

Answer: Rolling wave planning

Rolling wave planning plans near-term work in detail and refines later work as it gets closer.

A PM estimates a new collateral system implementation from the actual duration of a similar past project. Which estimating technique is this?

Answer: Analogous estimating

Analogous estimating uses data from similar past projects as the basis for the estimate.