OMIS 352 Quiz #1
Project isolation is a key concern for which of the following team structures
. Projectized or Project based
Which of the following factors together form the main reasons for majority of project failures?
2. People 3. Process
What does it mean if a project is considered to be a failed success
A failed success is a project that is deemed successful in terms of being on time and on budget. However in the end, the project was never utilized by the end users and therefore a failure as well.
Project success rate will improve when the following these approaches
All the above
The following factors influence escalation of commitment
All the above
What is escalation of commitment with regards to Project management?
An escalation of commitment is when the manager begins to defend a project that is possibly failing based on previous investments and time spent on it. The manager is using time and money spent as justification to continue working on the same project.
Trying to decide between three alternatives, a company employed a scoring model. Three criteria were chosen. Criteria A was believed to be the most important and so was given a weight of 50%. The other two were deemed to be equal to each other in importance. A relative scoring range of 0 to 10 was used. The table below shows each alternative and their scores. Which alternative should the company choose?
Choose either alternative A or B
A project manager's primary role is to provide the funding for a project.
False
A project sponsor is responsible for ensuring that all of the project management and technical development processes are in place and being carried out within a set of specific requirements, defined processes, and quality standards
False
All actual cash flows over the useful life of a project alternative are included in the payback method of analysis.
False
Breaking a project down into phases increases the complexity and project risk.
False
Earned value management is a tool primarily used in human resource management.
False
End users in some cases could contribute to the failure of a project
False
In order to be realistic, a project manager should always set discrete goals instead of a range of objectives.
False
Managing the triple constraint primarily involves making trade-offs between resources and quality.
False
Post project transition is a huge concern for project members working in a functional governance structure
False
Project procurement management primarily involves identifying stakeholder needs while managing their engagement throughout the life of the project.
False
Projects are part of a planned organizational change. Therefore, the project manager and team do not need to worry about the political climate within the organization because top management has a firm understanding of the organization's culture, environment, politics, etc
False
The Socio-Technical Approach has been adopted by many organizations because successful projects require a pure technical approach that focuses on the tools, techniques, and methodologies of IT development.
False
The importance of stakeholders' needs and expectations is limited to the beginning of a project.
False
The only responsibility of a project manager is to meet the specific scope, time, and cost goals of a project.
False
The project can be considered a success as long as it is completed on time, within budget and with full scope
False
All of the following are steps in developing the project MOV except:
Identify the available organizational resources
Which of the following types of tools is usually recommended for small projects and single users?
Low-end
Which of the following is a difference between low-end and midrange tools of the project management software?
Midrange tools are designed to handle larger projects than low-end tools.
Which of the following is not part of the project phases
Monitoring and controlling stage
Are single criterion methods better than multi criteria methods to select projects? Why or why not
Multi criteria methods are better than single criterion methods because they take into consideration multiple facets of the project when making a selection decision. For example, a single criterion method could be looking a a project only financially by looking at the NPV, while a multi criteria method could be using a matrix to compare multiple areas.
A _____ is an organizational group responsible for coordinating the project management function throughout an organization.
Project Management Office
The following are PMBOK® knowledge areas except:
Project Research Management
Galaxy, a construction company, buys a particular brand of tiles manufactured by Tiles and Floors, an eco-friendly tile manufacturing company. However, Tiles and Floors has declared bankruptcy and closed down. At present, Galaxy is facing a crisis because there are no other manufacturers in the market that supplies eco-friendly tiles. Which of the following constraints is Galaxy currently facing?
Resources
Which of the three project governance structures (functional/project/matrix) turns out to be most stressful for project team members? Please describe your answer in a couple of sentences
The Matrix governance structure is the most stressful for team members. In a matrix governance structure the employee has to report to both their direct functional manager and then also a project manager. In comparison to the the other governance structures, this adds other stress of having two managers and essentially two job's responsibilities to maintain at the same time. `
What is the Iron triangle or the triple constraint? Describe briefly how project managers use it to manage projects
The iron triangle's corners are time, cost and quality. If one of the areas needs to be improved (shorter time frame, lower cost, better quality/more features) then a different area of the triangle would need to be lessened (longer time frame, higher cost, lower quality). Project managers use the iron triangle to adapt to changes in the project plan and find ways to keep the project successful by making adjustments in timeframe, cost or requirments
Which of the following statements is the best indicator that the new software project was successful.
The project's product, a software system, was a week late and 2% over budget, but six months later was found to have met the company's goal of reducing service callbacks by 15%
Fast tracking is an example of a tool used in _____ management.
Time
A significant deficiency of the payback method of analyzing alternatives is the failure to account for the time value of money
True
A weak matrix is one form of matrix structure where the functional manager has higher power than the project manager
True
Every project should have a well-defined objective.
True
In a functional organization, coordination between project team members is maintained through normal management channels
True
Project management objectives include Scope, Schedule, Budget, and Quality.
True
The MOV (Measurable Organizational Value) should not be adjusted at each phase of a project to align with the realities of project execution.
True
The introduction of new software makes basic tools, such as Gantt charts and network diagrams, inexpensive and easy to create.
True
MOV for a project should be both measurable and verifiable
True `
An important tool for project scope management is _____.
a work breakdown structure
Which of the following statements is/are true?
b) A Project manager does not need to have functional expertise (subject matter expertise) c) Functional expertise is critical to successfully completing the project
Which of the following are advantages of a project based organization ?
b) Cohesiveness c) Cross functional integration
A critical path:
determines the earliest completion date of a project.
Team building exercises and motivation techniques are tools used in _____ management.
human resource
The role of a _____ is to provide direction and funding for a project.
project sponsor
Project _____ management ensures that the project will satisfy the stated or implied needs for which it was undertaken.
quality
