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