Project Management Exam 1

Corporate downsizing has increased the trend toward 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.

B

In the ____________________ stage of the project life cycle, project objectives are established, teams are formed, and major responsibilities are assigned. A. Identifying B. Defining C. Planning D. Executing E. Closing

B

Linda has just been assigned manager of a project to develop a new advertising campaign for an established product. Her first step should be to 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.

B

Which of the following is true of multiweighted scoring models? 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

E

Projects should align with the organization's overall strategy in order to 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

B

Which of the following is typically the responsibility of a project manager? 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

E

Regardless of the criteria differences among different types of projects, the most important criterion for project selection is A. How the project will balance risk within the project portfolio B. The project's fit to the organization strategy C. Compliance D. Nonfinancial E. Profit

B

The lowest element in the hierarchical breakdown of the WBS is A. A deliverable. B. A work package. C. A cost account. D. A lowest subdeliverable. E. An object.

B

There are 5 steps involved when defining a project; which of the following is the first? 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

B

Which of the following activities is the best example of a project? A. Processing insurance claims B. Producing automobiles C. Writing a policy manual D. Monitoring product quality E. Overseeing customer requests

C

Which of the following is NOT one of the characteristics of effective objectives? A. Realistic B. Assignable C. Flexible D. Specific E. Measurable

C

Two dimensions within the project management process are A. Technical and sociocultural. B. Cost and time. C. Planned and unexpected D. Established and new. E. Unique and reoccurring.

A

Which of the following is NOT one of the stages of a project life cycle? A. Identifying B. Defining C. Planning D. Executing E. Closing

A

Which of the following is NOT true about organizational politics? 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

Which of the following is NOT true for strategic management? 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

Which of the following is NOT true regarding scope creep? 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

A

One of the primary jobs of a project manager is to manage the trade-offs associated with the project. Which of the following is NOT one of the basic classifications of project priorities? A. Profit B. Cost C. Time D. Performance E. All of these are basic classifications

A

Project selection criteria are typically classified as A. Financial and nonfinancial. B. Short-term and long-term. C. Strategic and tactical. D. Required and optional. E. Cost and schedule.

A

The ability of a 911 emergency system to identify the caller's phone number and location is considered to be a A. Technical requirement. B. Milestone. C. Project limit. D. Project exclusion. E. Project deliverable.

A

The assessment of the external and internal environments is called _______ analysis. A. SWOT B. Competitive C. Industry D. Market E. Strategic

A

The following are responsibilities of the governance team when managing a portfolio system EXCEPT 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

What does PMI Stand for?

Project Management institute

A professional organization for project management specialists is the A. PMI B. AMA C. MIS D. IPM E. PMBOK

A

After reviewing the project scope statement, the owner specifies that costs MUST stay within $400,000. This criterion is classified as A. Constrained. B. Enhanced. C. Accepted. D. Limited. E. Fixed.

A

An expected output over the life of a project would be classified as A. A deliverable. B. A product. C. An end object. D. An objective. E. A target.

A

Governance of all project management processes and procedures helps provide senior management with all of the following EXCEPT. 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

Which of the following terms is often used to denote a project that a powerful, high-ranking official is advocating? A. Sacred cow B. Pet project C. Political necessity D. Special undertaking E. Strategic ploy

A

Which of the following would be classified as an organizational threat? A. Slowing of the economy B. Excellent employees C. Poor product quality D. Declining facilities E. High labor costs

A

Which of these is NOT part of the "sociocultural dimension" of project management? A. Negotiation B. Resource allocation C. Managing customer expectations D. Leadership E. Dealing with politics

B

A project selection process that is strongly linked to strategy results in 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.

B

A series of coordinated, related, multiple projects that continue over an extended time period and are intended to achieve a goal is known as a A. Strategy B. Program C. Campaign D. Crusade E. Venture

B

Which dimension of project management centers on creating a temporary social system within a larger organizational environment that combines the talents of a divergent set of professionals working to complete the project? A. communication B. sociocultural C. Social D. Technical E. Scheduling

B

Which of the following is NOT a problem associated with the absence of a project portfolio system? A. Organizational politics B. Lack of funding C. Resource conflicts D. Multitasking E. Implementation gap

B

Which of the following is NOT one of the traditional components found in mission statements? A. Major products and services B. Profitability C. Target customers and markets D. Geographic domain E. Contribution to society

B

Which of the following is NOT true when managing a portfolio system? 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

B

Which of the following is NOT typical of a project manager? 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

B

Which of the following statements is true? 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

B

Why do project managers need to understand their organization's mission and strategy? A. To reduce project duration and increase the number of projects implemented B. So they can make appropriate decisions and adjustments and be effective project advocates C. It is only important for senior management to understand the organization's mission and strategy D. To get their job done and increase opportunities for promotion E. So that they can make sure the customer is satisfied

B

"To construct a high-quality, custom home within five months at costs not to exceed $150,000" is best classified as A. A deliverable. B. A milestone. C. An objective. D. A limit. E. An exclusion.

C

In reviewing the project plan, Susan sees that the first prototype must be completed by October 12. This would be best classified as a A. Project target. B. Limit item. C. Milestone. D. Project objective. E. Critical goal.

C

In the ______________ stage of the project life cycle the project's schedule and budget will be determined. A. Identifying B. Defining C. Planning D. Executing E. Closing

C

Jose is looking at a document that outlines the specific deliverables and subdeliverables required to complete the writing of a technical support manual. He is most likely viewing the A. Responsibility matrix. B. Organization breakdown structure. C. Work breakdown structure. D. Priority matrix. E. Work package.

C

One who endorses and lends political support for the completion of a specific project is known as the A. Project manager. B. CEO. C. Project sponsor. D. Project lead. E. Sacred cow.

C

Scott has just been given a project that has a specific completion date. After a discussion with top management he finds that while the date is important the cost is more important and a slip in delivery would be acceptable if required to meet the cost targets. The completion date is best classified as A. Constrained. B. Reduced. C. Accepted. D. Limited. E. Optional.

C

The _________ is used to assist in making project trade-offs among schedule, budget, and performance objectives. A. Responsibility matrix B. Work breakdown structure C. Project priority matrix D. Work package E. Criterion matrix

C

There are 5 steps involved when defining a project; which of the following is the second? 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

C

Which of the following is the correct order for the strategic management process? 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

C

Which of the following problems refers to lack of understanding and consensus of organization strategy among top and middle-level managers? This also can result when top management formulates strategy and leaves implementation to functional managers. A. Multitasking B. Organization politics C. Implementation gap D.Resource conflicts E. Employee turnover

C

Which of the following represents the correct order of stages within the project life cycle? 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

C

Which of the following would be classified as an organizational opportunity? A. Low debt B. Excellent employees C. Increasing product demand D. Talented management E. Government regulation

C

Which of these is NOT part of the "technical dimension" of project management? A. WBS B. Budgets C. Problem solving D. Schedules E. Status reports

C

Which of the following is NOT a reason why project management has become a standard way of doing business? 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.

CC

A project screening matrix typically contains all of the following EXCEPT 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

D

All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT A. Frequent conflicts between managers. B. Inadequate resources. C. Confused employees regarding which projects are more important. D. Not enough projects within the portfolio to make a profit. E. People are working on multiple projects and feel inefficient.

D

All of the following are ways the WBS helps in managing projects EXCEPT 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.

D

How is project scope defined? 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

D

In the _____________ stage of the project life cycle, a major portion of the physical project work performed. A. Identifying B. Defining C. Planning D. Executing E. Closing

D

In the ______________ stage of the project life cycle you are more likely to find status reports, changes, and the creation of forecasts. A. Identifying B. Defining C. Planning D. Executing E. Closing

D

Projects are usually classified into all but one of the following categories. Which one is NOT one of the typical classifications? A. Compliance and emergency B. Operational C. Strategic D. Political necessity E. All of these are typical classifications

D

Susie's department is implementing many projects. She finds herself starting and stopping work on one task to go and work on another task, and then return to the work on the original task. Susie is experiencing A. Poor scheduling. B. Excess work burden. C. Flexible tasking. D. Multitasking. E. Burnout.

D

Which of the following activities is NOT considered a project? 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

D

Which of the following is NOT considered to be characteristic of a project? 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

D

Which of the following is NOT one of the driving forces behind the increasing demand for project management? 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

D

Which of the following is NOT one of the items that would appear on a project scope statement or checklist? A. Deliverables B. Technical requirements C. Objectives D. Work breakdown structure E. Reviews with customer

D

Which of the following is NOT true about project management? 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.

D

Which of the following questions does the organization's mission statement answer? 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

D

As the number of small projects increase within an organization's portfolio, what is a challenge an organization faces? A. Sharing resources B. Measuring efficiency C. Managing risk D. Prioritizing projects E. All of these are challenges

E

Examples of nonfinancial criteria include all of the following EXCEPT 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.

E

In order to formulate strategies that align with the mission the organization will need to 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.

E

In the ______________ stage of the project life cycle project life cycle project the product is delivered to the customer and resources are reassigned. A. Identifying B. Defining C. Planning D. Executing E. Closing

E

Project governance does NOT include 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.

E

Project management is ideally suited for a business environment requiring all of the following except A. Accountability B. Flexibility C. Innovation D. Speed E. Repeatability

E

Project management is important to understand when people are a part of a project team because they 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.

E

Project managers who understand the role that their project plays in accomplishing the organization's strategy are able to do all of the following EXCEPT A. Demonstrate to senior management how their project contributes to the firm's mission. B. Explain to team members why certain project objectives and priorities are critical. C. Explain to stakeholders why certain project objectives and priorities are critical. D. Be able to respond appropriately to delays and/or questions about product design. E. Be able to focus on problems or solutions, even if the project is a low priority strategically.

E

The __________ financial model measures the current value of all cash inflows using management's minimum desired rate of return. A. FUBAR B. ARR C. IRS D. IRB E. None of these

E

The first step of project scope definition is to 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.

E

The highest element in the hierarchical breakdown of the WBS is A. A work package. B. Subdeliverables. C. A cost account. D. Major deliverables. E. The project.

E

Which of the following is NOT one of the requirements for successful implementation of strategies through projects? A. Allocation of resources B. Prioritizing of projects C. Motivation of project contributors D. Adequate planning and control systems E. Quality management

E

What is WBS?

Work Brake-down Structure (technical dimension)

Which of the following is NOT true about an organization's strategy? 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

c