Project Management & Execution Flashcards

A collection manager is launching a new early-stage dunning campaign. Which document should formally authorize the project and name the project sponsor?

Answer: Project charter

The project charter formally authorizes a project, names the sponsor, and gives the manager authority to use resources.

When planning a migration to new collection software, which tool breaks the total scope into smaller, manageable deliverables?

Answer: Work breakdown structure (WBS)

A WBS decomposes the project scope into progressively smaller work packages.

A project to reduce DSO by 10 days must be finished before fiscal year-end, with a fixed budget and fixed headcount. Which constraint is most likely to flex if scope grows?

Answer: None can flex, so the scope change should go through change control

When time, cost, and resources are fixed, added scope must be evaluated through formal change control rather than absorbed silently.

In a RACI matrix for a collection agency onboarding project, the 'A' role means the person who:

Answer: Is ultimately answerable for the task and signs off on it

Accountable is the single person who owns the outcome and approves the work.

Which activity sequence has zero total float and determines the shortest possible project duration?

Answer: Critical path

The critical path is the longest sequence of dependent tasks, so any delay on it delays the whole project.

Midway through a call-center scripting project, the legal team requests Regulation F disclosure changes. What should the project manager do first?

Answer: Submit the request through the change control process and assess impact

Change control evaluates schedule, cost, and risk impact before approving even mandatory changes.

A SMART objective for a collections improvement project would be:

Answer: Reduce accounts over 90 days past due from 18% to 12% of receivables by June 30

SMART objectives are specific, measurable, achievable, relevant, and time-bound.