IST 345 Exam 1 Quick Quiz Q's
If a company loses $5 for every $100 in revenue for a certain product, what is the profit margin for that product?
-5 percent
assume that you have a project with major categories called planning, analysis, design, and testing. What level of WBS would these items fall under?
2
If estimates for total discounted benefits for a project are $120,000 and total discounted costs are $100,000, what is the estimated return on investment (ROI)?
20 percent
by 2027, employers will need over ____ million individuals working in project management-oriented roles
87
Accountants usually define _________________ as a resource sacrificed or foregone to achieve a specific objective or something given up in exchange.
cost
a ____ is a product or service, such as technical report, a training session, or hardware, produced or provided as part of a project.
deliverable
which of the following processes is not part of project integration management?
developing the project business case
a new government law requires an organization to report data in a new way. Which of the following categories would include a new information system project to provide this data?
directive
The nature of IT projects is different from the nature of projects in many other industries because they are very _______
diverse
____ is a project performance measurement technique that integrates scope, time and cost data
earned value management
_____ processes include coordinating people and other resources to carry out project plans and create the products, services, or results of the project or phase.
executing
which process group normally requires the most resources and time?
executing
What tool and technique is used for all processes of project integration management?
expert judgement
You cannot start editing a technical report until someone else completes the first draft. What type of dependency does this represent?
finish-to-start
which of the following is not part of the three-sphere model for systems management?
information
Initiating involves developing a project charter, which is part of the project _____ management knowledge area.
integration
which tool or technique for collecting requirements is often the most expensive and time consuming?
interviews
which of the following is not a potential advantage of using good project management?
lower cost of capital
____ reserves allow for future situations that are unpredictable
management
Personnel in a ____ organizational structure often report to two or more bosses.
matrix
which of the following is not a part of the triple constraint of project management?
meeting communications goals
what approach to developing a WBS involves writing down or drawing ideas in a nonlinear format?
mind mapping
which of the following is not a suggestion for performing integrated change control?
minimize change control
_____ involves measuring progress toward project objectives and taking corrective actions.
monitoring and closing
what term describes an organization's acquisition of goods and services from an outside source in another country?
offshoring
which of the following is not a suggestion for improving user input?
only have meetings as needed, not on a regular basis
a work breakdown structure, project schedule, and cost estimates are outputs of the ____ process
planning
a ____ is a series of actions directed toward a particular result
process
Several application development projects done for the same functional group might best be managed as part of a _____.
program
a _____ is a temporary endeavor undertaken to create a unique product, service, or result
project
a ____ is a document that formally recognizes the existence of a project and provides direction on the project's objectives and management
project charter
_____ is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements
project management
which of the following is not an attribute of a project?
projects involve little uncertainty
what is the last step in the four-stage planning process for selecting IT projects?
resource allocation
____ refers to all the work involved in creating the products of the project and the processes used to create them
scope
_____ is the leading agile development method
scrum
which of the following is not a best practice for new product development projects?
selecting projects that will take less than two years to provide payback
project portfolio management addresses ____ goals of an organization, while project management addresses _____ goals.
strategic, tactical
Which of the four frames of organizations addresses how meetings are run, employee dress codes, and expected work hours?
symbolic
Many people use ___ to have a standard format for preparing various project management documents.
templates
what constitutes requirements for agile projects?
the backlog
which of the following is not a typical reason that project teams would use a predictive approach versus an agile approach to managing a project?
the project has unclear up-front requirements
what is the main goal of project cost management?
to complete a project within an approved budget
Scope ______ is often achieved by a customer inspection and then sign-off on key deliverables.
validation
____ ensures that the descriptions of the projects products are correct and complete
Configuration management
____ is a method of scheduling that considers limited resources when creating a project schedule and includes buffers to protect the project completion date
Critical chain scheduling
____ is a network diagramming technique used to predict total project duration
Critical path method
as the project manager for a software development project, you are helping to develop the project schedule. You decide that writing code for a system should not start until users sign off on the analysis work. What type of dependency is this?
Discretionary
which of the following is not a best practice that can help in avoiding scope problems on IT projects?
Don't involve too many users in scope management
which of the following statements is false?
Duration and effort are synonymous terms
Which of the following statements is false?
Fast tracking is a technique for making cost and schedule trade-offs to obtain the greatest amount of schedule compression for the least incremental cost
If a project is halfway completed and its schedule performance index is 110 percent and its cost performance index is 95 percent, how is it progressing?
It is ahead of schedule and over budget
which of the following is not true?
PMI's talent triangle includes leadership, and information technology skills along with project management
what methodology was developed in the UK, defines 45 separate subprocesses, and organizes them into eight process groups?
PRINCE2
You are preparing a cost estimate for a building based on its location, purpose, number of square feet, and other characteristics. What cost-estimating technique are you using?
Parametric
which of the following processes involves determining the policies, procedures, and documentation that will be used for planning, executing, and controlling the project schedule?
Planning schedule management
what is the name of one of the popular certifications provided by the Project Management Institute?
Project Management Professional (PMP)
____ involves allocating the project cost estimate to individual material resources or work items over time
Project cost budgeting
which of the following terms describes a framework of the phases involved in developing information systems?
Systems development life cycle
If the actual cost for a WBS item is $1,500 and its earned value is $2,000, what is its cost variance, and is it under or over budget?
The cost variance is $500, which is under budget
a _____ is a deliverable-oriented grouping of the work involved in a project that defines its total scope
WBS
project management software helps you develop a ____, which serves as a basis for creating Gantt charts, assigning resources, and allocating costs.
WBS
which of the following items is not normally included in a project charter?
a Gantt chart
What type of diagram shows planned and actual project schedule information?
a Tracking Gantt chart
which of the following is not an output of the project cost management process called estimating costs?
a cost baseline
Which of the following statements is false?
a product life cycle is the same as a project life cycle
What symbol on a Gantt chart represents a slipped milestone?
a white diamond
Predecessors, successors, logical relationships, leads and lags, resource requirements, constraints, imposed dates, and assumptions are all examples of __________
activity attributes
which of the following outputs is often completed before initiating a project?
business case
Project work is most successful in an organizational culture where all of the following characteristics are important except _____
control
