Project Management Exam 1
A. An established objective
B. A clear beginning and end
C. Specific time, cost and performance requirements
D. For internal use only
E. Something never been done before
A. Developing a new software program
B. Designing a space station
C. Preparing the site for the Olympic Games
D. Production of automobile tires
E. Something never been done before
A. Processing insurance claims
B. Producing automobiles
C. Writing a policy manual
D. Monitoring product quality
E. Overseeing customer requests
A. Managing a temporary activity
B. Overseeing existing operations
C. Managing a non-repetitive activity
D. Responsible for time, cost and performance trade-offs
E. Work with a group of outsiders, including vendors and suppliers
A. Compression of the product life cycle
B. Knowledge explosion
C. Increasing need for multiproject management
D. Declining need for product customization
E. More sustainable business practices
A. Project management is far from a standard way of doing business
B. Project management is increasingly contributing to achieving organizational strategies
C. Project management is being used at a consistent percentage of a firm’s efforts
D. Project management is a specialty that few organizations have access to
E. All of these statements are false
A. Work with others to create a schedule and budget
B. Need to understand project priorities so they can make independent decisions.
C. Need to be able to monitor and report project progress.
D. Need to understand the project charter or scope statement that defines the objectives and parameters of the project.
E. All of these are reasons it is important for project team members to understand project management.
A. Setting standards for project selection.
B. Overseeing project management activities.
C. Centralization of project processes and practices.
D. Options for continuous improvement.
E. Allowing project managers to plan the project the way they see fit.
A. Complete the project safety.
B. Reduce waste of scarce resources.
C. Ensure customer satisfaction.
D. Secure funding
E. None of these are reasons why project should align with the organization’s overall strategy
A. Technical and sociocultural.
B. Cost and time.
C. Planned and unexpected
D. Established and new.
E. Unique and reoccurring.
C. Problem solving
E. Status reports
B. Resource allocation
C. Managing customer expectations
E. Dealing with politics
A. Reducing the number of projects a company initiates
B. Outsourcing significant segments of project work.
C. Using dedicated project teams
D. Shorter project lead times.
E. Longer project lead times.
A. Increased need for skilled management of stakeholders outside of organization.
B. Projects need to be done faster.
C. Organizations are doing more project work in-house instead of outsourcing.
D. Organizations are executing more and more projects
E. Increased product complexity and innovation.
A. Meeting budget requirements
B. Meeting schedule requirements
C. Meeting performance specifications
D. Coordinating the actions of the team members
E. All of these are typical responsibilities
A. It is not limited to the private sector.
B. Many opportunities are available for individuals interested in this career path.
C. It improves one’s ability to plan, implement and manage activities to accomplish specific organizational objectives.
D. It focuses primarily on technical processes.
E. It is a set of tools.
A. Sharing resources
B. Measuring efficiency
C. Managing risk
D. Prioritizing projects
E. All of these are challenges
A. A method to ensure project that are important to senior management are being implemented.
B. An assessment of the risk their portfolio of projects represents
C. An overview of all project management activities.
D. A metric to measure the improvement activities.
E. A big picture of how organizational resources are being used.
A. Planning, Defining, Executing, Closing
B. Closing, Planning, Defining, Executing
C. Defining, Planning, Executing, Closing
D. Executing, Defining, Planning, Closing
E. Planning, Defining, Closing, Executing
A. Strategy determines how an organization will compete
B. Strategy is implemented through projects
C. Only top management must understand strategy
D. Project selection should be clearly aligned with strategy
E. Project management plays a key role in supporting strategy
A. The most profit.
B. Better utilization of the organization’s resources.
C. More projects.
D. A larger and more diverse organization.
E. Stronger core competencies.
A. Project managers should not engage in organizational politics
B. Politics can have a significant influence on which projects receive funding
C. Politics exist in every organization
D. Politics can influence project selection
E. Politics can play a role in the aspirations behind projects
A. Sacred cow
B. Pet project
C. Political necessity
D. Special undertaking
E. Strategic ploy
To reduce project duration and increase the number of projects implemented
So they can make appropriate decisions and adjustments and be effective project advocates
It is only important for senior management to understand the organization’s mission and strategy
To get their job done and increase opportunities for promotion
So that they can make sure the customer is satisfied
Demonstrate to senior management how their project contributes to the firm’s mission.
Explain to team members why certain project objectives and priorities are critical.
Explain to stakeholders why certain project objectives and priorities are critical.
Be able to respond appropriately to delays and/or questions about product design.
Be able to focus on problems or solutions, even if the project is a low priority strategically.
Frequent conflicts between managers.
Confused employees regarding which projects are more important.
Not enough projects within the portfolio to make a profit.
People are working on multiple projects and feel inefficient.
B. Organization politics
C. Implementation gap
E. Employee turnover
A. It should be done once every few years just before developing the operating plan
B. It supports consistency of action at every level of the organization
C. It develops an integrated and coordinated long-term plan of action
D. It positions the firm to meet the needs of its customers
E. It involves responding to changes in the external market and allocating scarce resources to improve a competitive position
A. Strategies, mission, objectives, projects
B. Objectives, projects, mission, strategies
C. Mission, strategies, objectives, projects
D. Objectives, mission, strategies, projects
E. Projects, mission, strategies, objectives
A. What are our long-term strategies?
B. What are our long-term goals and objectives?
C. How do we operate in the existing environment?
D. What do we want to become?
E. All of these are answered by the mission statement
A. Major products and services
C. Target customers and markets
D. Geographic domain
E. Contribution to society
A. Assess internal strengths and weaknesses.
B. Analyze competitors.
C. Examine the external environment.
D. Know their core competencies.
E. All of these should be considered when formulating strategies.
A. Slowing of the economy
B. Excellent employees
C. Poor product quality
D. Declining facilities
E. High labor costs
A. Low debt
B. Excellent employees
C. Increasing product demand
D. Talented management
E. Government regulation
A. Allocation of resources
B. Prioritizing of projects
C. Motivation of project contributors
D. Adequate planning and control systems
E. Quality management
A. Organizational politics
B. Lack of funding
C. Resource conflicts
E. Implementation gap
A. Poor scheduling.
B. Excess work burden.
C. Flexible tasking.
A. Financial and nonfinancial.
B. Short-term and long-term.
C. Strategic and tactical.
D. Required and optional.
E. Cost and schedule.
E. None of these
A. Compliance and emergency
D. Political necessity
E. All of these are typical classifications
A. Project manager.
C. Project sponsor.
D. Project lead.
E. Sacred cow.
A. The list of available projects
B. Specific criteria
C. Weights assigned to specific criteria
D. Costs to complete each project
E. All of these are typically contained
A. How the project will balance risk within the project portfolio
B. The project’s fit to the organization strategy
A. Will include quantitative criteria
B. Will include qualitative criteria
C. Each criterion is assigned a weight
D. Projects with higher scores are considered more desirable
E. All of these are true
A. Capturing a larger market share.
B. Reducing dependency on unreliable suppliers.
C. Preventing government intervention and regulation.
D. Making it difficult for competitors to enter the market.
E. Calculating the time it will take to recover the project investment.
A. The qualities of a particular project are assessed within the context of existing projects
B. It does not require a constant effort
C. Within a small organization it can be managed by a small group of key employees
D. It requires input from senior management
E. It involves monitoring and adjusting criteria to reflect the strategic focus of the organization
A. Deciding how they wish to balance the available organizational resources among the different types of projects.
B. Publishing the priority of every project and ensuring the process is open and free of power politics.
C. Evaluating the progress of the projects in the portfolio.
D. Constant scanning of the external environment to determine if organizational selection criteria need to be changed.
E. Communicating which projects are approved.
A. The length of your project and how much it will cost
B. The deliverables or outputs during the course of the project
C. The range of resources you have available and their capabilities
D. What you expect to deliver to your customer when the project is complete
E. The range of customer expectations
A. Responsibility matrix.
B. Organization breakdown structure.
C. Work breakdown structure.
D. Priority matrix.
E. Work package.
A. Establish project priorities
B. Define the project scope
C. Verify the budget available
D. Assign team members to work on the project
E. Determine the required completion date
A. Establish project priorities.
B. Define the project scope.
C. Verify the budget available.
D. Assign team members to work on the project.
E. Determine the required completion date.
A. It is when the cost of the project is more than expected
B. It is the tendency for the project scope to expand over time
C. It most likely caused by a scope statement that is too broad
D. It can have both positive and negative impacts on a project
E. It can lead to added costs and possible project delays
An end object.
A. Analyze the strategic plan.
B. Analyze the current budget plan.
C. Meet with team members.
D. Select team members.
E. Define the overall objective to meet the customer’s needs.
A. Project target.
B. Limit item.
D. Project objective.
E. Critical goal.
A. Technical requirement.
C. Project limit.
D. Project exclusion.
E. Project deliverable.
B. Technical requirements
D. Work breakdown structure
E. Reviews with customer
A. A deliverable.
B. A milestone.
C. An objective.
D. A limit.
E. An exclusion.
A. Analyze the strategic plan
B. Analyze the current budget plan
C. Establish project priorities
D. Select team members
E. Define the major objectives to meet the customer’s needs
E. All of these are basic classifications
A. Responsibility matrix
B. Work breakdown structure
C. Project priority matrix
D. Work package
E. Criterion matrix
A. A deliverable.
B. A work package.
C. A cost account.
D. A lowest subdeliverable.
E. An object.
A. A work package.
C. A cost account.
D. Major deliverables.
E. The project.
A. With cost and time estimates the WBS makes it possible to plan, schedule and budget the project.
B. It provides management with information appropriate to each level.
C. Can be used to define communication channels.
D. Allows the project manager to establish the overall objective of the project.
E. As it is developed, organizational units and individuals can be assigned responsibility of work packages.
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