Ch. 2 PMP Quiz

A business case typically contains information regarding the business need and a financial analysis. Which financial model divides the cash flow by the initial cash outlay? a. Benefit-Cost Ratio (BCR) b. Internal Rate of Return (IRR) c. Net Present Value (NPV) d. Payback Period (PP)

a

All projects should be aligned with their organization's strategic plan, which includes the organization's vision, goals, and objectives. Which of these describes an organization's vision? a. Conveys a larger sense of organizational purpose and is both inspiring and guiding. b. Describes short- and long-term results along with measures to determine if they have been achieved. c. Includes the organization's core purpose, core values, beliefs, culture, primary business, and primary customers. d. Is SMART: specific, measurable, achievable, results-based, and time-specific.

a

An organization's vision often includes reference to its social, environmental, and economic health, collectively referred to as the: a. triple bottom line b. business case c. statement of work (SOW) d. net present value (NPV)

a

The Agile team leader is uncertain about what to include in the SWOT internal analysis and raises this concern with the sponsor. This strategic analysis is often called SWOT Analysis. Which statement best describes the internal analysis? a. The internal analysis consists of asking what strengths and weaknesses the organization possesses. b. The internal analysis (elements over which the project team has little or no control) consists of opportunities and threats that are posed by external players such as competitors, suppliers, customers, regulatory agencies, and technologies. c. The internal analysis uses Net Present Value by discounting the expected future value of both the project costs and benefits, recognizing that a dollar in the future is worth less than a dollar today. d. The internal analysis uses the Internal Rate of Return by calculating the percentage return expected on the project investment.

a

The client asks the team leader for projections of what will be delivered after the initial sprint. During project selection using Agile methods, which statement is true when considering what is the primary way future work is organized? a. Products in backlog. b. Projects in portfolio. c. The simplest version of a product with just enough features to gain quick customer feedback. d. Define value from a customer's perspective.

a

The project sponsor and the Agile team leader are considering how to determine how resources will be selected and allocated to the project. During project selection using Agile methods, which statement is true when considering how are resources determined for selected and prioritized project work? a. Relative Priority Ranking. b. Resource Assignment matrix. c. To-do prioritized list of work to both create product and reduce risk. d. Use feedback to progressively understand true needs.

a

The project team leader asks the sponsor for guidance on how project work is decided upon. During project selection using Agile methods, which statement is true when considering how is project work secured? a. Partnering. b. Proposal and negotiation. c. Benefit-Cost Ratio. d. Internal Rate of Return.

a

The sponsor asks the project team leader to align the project with organizational goals—but is unsure of exactly what this means. During project selection using Agile methods, which statement is true when considering how is alignment with organizational goals ensured? a. Portfolios and programs shown as roadmaps. b. Portfolios and programs as customer-driven value. c. Description of desired future state of value streams and solutions. d. Find and create the highest value capability for the customer first.

a

A collection of projects, programs, and operations managed as a group to achieve strategic objectives are called a: a. Process b. Portfolio c. Subprogram d. Life cycle

b

A project team member does not understand exactly what should and should not be included in the external SWOT analysis. This strategic analysis is often called SWOT Analysis. Which statement best describes the external analysis? a. The external analysis (elements within the project team's control) consists of asking what strengths and weaknesses the organization possesses. b. The external analysis consists of opportunities and threats that are posed by external players such as competitors, suppliers, customers, regulatory agencies, and technologies. c. The external analysis uses Net Present Value by discounting the expected future value of both the project costs and benefits, recognizing that a dollar in the future is worth less than a dollar today. d. The external analysis uses the Internal Rate of Return by calculating the percentage return expected on the project investment.

b

All of the following are true except: a. A portfolio may contain multiple programs and projects b. A project manager has the discretion to make trade-offs in regard to which programs to pursue. c. A program manager has the discretion to make trade-offs in regard to which projects to pursue. d. Projects have a finite timeline, while programs may exist as long as the parent organization does.

b

Team members are asking the team leader for the rationale that was used for selecting the current project. During project selection using Agile methods, which statement is true when considering how are projects selected? a. Scoring model. b. Customer-driven value. c. Deliverables that are usable, desirable, and functional in helping customers achieve desired outcomes. d. Perform a cost-benefit analysis to determine the benefits provided by a project against its costs

b

The _______ best describe(s) why a project is being undertaken. a. statement of work b. business case c. subprojects d. source selection criteria

b

The project sponsor is discussing the selection of possible projects with the team leader. During project selection using Agile methods, which statement is true when considering what is the primary organization at a lower level? a. Projects and subprojects. b. Products and sometimes projects. c. Find and create the highest value capability for the customer first. d. Visual showing high-level plans of products expected to be created during each release

b

A narrative description of products, services, or results to be delivered by the project is a: a. Request for information b. Business case c. Project statement of work d. Elevator pitc

c

Projects may be undertaken as a result of any of the following strategic reasons except: a. Social need b. Market demand c. Need to keep workers busy during slow times d. Environmental considerations

c

The Agile project team leader disagrees with the project sponsor on the definition of Program Management. Which statement is NOT true when considering Portfolio, Program, Project, and Subproject Relationships: a. A program is "related projects, subsidiary programs, and program activities managed in a coordinated manner to obtain benefits not available from managing them individually." b. The projects within a program are related and often share the same goal and require similar resources. c. Program management is a systematic approach of aligning multiple components of the program to achieve the program goals while optimizing the operations and marketing effort required to execute the program. d. Programs and program management are of great importance, specifically for the government and large and multinational corporations.

c

The document that includes the necessary information to determine whether a project is worth the required investment, and is used for decision making by upper management, is called the: a. Project Scope Statement b. Project Charter c. Business Case d. Case Study

c

There is an ongoing debate in the project team regarding who determines the priority of what will be delivered to the client. During project selection using Agile methods, which statement is true when considering how is work prioritized? a. Scoring model. b. Use the product roadmap. c. Backlog refining led by Product Owner. d. The simplest version of a product with just enough features to gain quick customer feedback.

c

Which of the following is a financial analysis tool that an organization may use to determine the cost-value of potential projects? a. Payback Period (PP) b. Internal Rate of Return (IRR) c. Net Present Value (NPV) d. All of the above

d