Quiz Chapter 1

Project management is: 1. The integration of the critical path method and the Earned Value Management system. 2. The application of knowledge, skills, wisdom, science, and art to organizational activities to achieve operational excellence 3. A subset of most engineering and other technical disciplines 4. The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements

4. The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements

Portfolio management refers to: 1. Managing various contents of the project file 2. Managing the levels of financial authority to facilitate project decision making. 3. Applying resource-leveling heuristics across all the organization's projects to achieve the organization's strategic objectives. 4. The centralized management of one or more portfolios to achieve strategic objectives.

4. The centralized management of one or more portfolios to achieve strategic objectives.

A project is: 1. A temporary endeavor undertaken to create a unique product, service, or result. 2. A set of sequential activities performed in a process or system. 3. A revenue-generating activity that needs to be accomplished while achieving customer satisfaction. 4. An ongoing endeavor undertaken to meet customer or market requirements.

1. A temporary endeavor undertaken to create a unique product, service, or result.

All of the following are true about projects and operations EXCEPT: 1. Because of their temporary nature, projects cannot help achieve an organization's long-term goals. Therefore, strategic activities in the organization can be generally addressed within the organization's normal operations. 2. Operations are ongoing endeavors that produce repetitive outputs, with resources assigned to do basically the same set of tasks according to the standards institutionalized in a product life cycle, whereas projects are temporary endeavors. 3. Projects require project management activities and skill sets, whereas operations require business process management, operations management activities, and skill sets. 4. Projects can intersect with operations at various points during the product life cycle. At each point, deliverables and knowledge are transferred between the project and operations for implementation of the delivered work.

1. Because of their temporary nature, projects cannot help achieve an organization's long-term goals. Therefore, strategic activities in the organization can be generally addressed within the organization's normal operations.

The types of project management office (PMO) structures in organizations include all of the following EXCEPT: 1. Harmonizing PMOs that strive to reduce conflict and improve harmony among project team members. 2. Supportive PMOs that provide a consultative role to projects by supplying templates, best practices, training, access to information and lessons learned from other projects 3. Controlling PMOs that provide support and require compliance through various means. 4. Directive PMOs that take control of the projects by directly managing the projects.

1. Harmonizing PMOs that strive to reduce conflict and improve harmony among project team members.

Your job responsibility is to align components (projects, programs, or operations) to the organizational strategy, organized into portfolios or sub-portfolios to optimize project or program objectives, dependencies, costs, timelines, benefits, resources, and risks. This is known as: 1. Portfolio management. 2. Components management 3. Process management 4. Program management.

1. Portfolio management.

Project success is measured by: 1. Product and project quality, timeliness, budget compliance, and degree of customer satisfaction. 2. Degree to which the project satisfies its time and budget objectives. 3. The triple constraints of schedule, cost, and technical performance. 4. Degree to which the project satisfies the needs for which it was undertaken and its long-term contribution to aggregate performance of the organization's portfolio

1. Product and project quality, timeliness, budget compliance, and degree of customer satisfaction.

Managing a project typically includes: 1. Integrating requirements of profitability, low cost, and legal responsibility. 2. Balancing the competing project constraints, which include scope, quality, schedule, budget, resources, and risks. 3. Implementation of software, hardware, and other systems to enhance organizational efficiency. 4. Supporting human factors, communications, discipline, and performance management.

2. Balancing the competing project constraints, which include scope, quality, schedule, budget, resources, and risks.

In addition to any area-specific skills and general management proficiencies required for the project, effective project management requires that the project manager possess all of the following competencies EXCEPT: 1. Knowledge, which refers to what the project manager knows about project management. 2. Manipulation, which refers to how the project manager motivates the project team to work hard on the project while working them out of a job. 3. Performance, which refers to what the project manager is able to do or accomplish while applying his or her project management knowledge. 4. Personal, which refers to how the project manager behaves when performing the project or related activity.

2. Manipulation, which refers to how the project manager motivates the project team to work hard on the project while working them out of a job.

A primary function of a project management office (PMO) is to support project managers in a variety of ways which may include all of the following EXCEPT: 1. Managing shared resources across all projects administered by the PMO 2. Identifying and developing project management methodology, best practices, and standards 3. Delivering specific project objectives and controlling the assigned project resources to best meet objectives of the project. 4. Coaching, mentoring, training, and oversight.

3. Delivering specific project objectives and controlling the assigned project resources to best meet objectives of the project.

A program is a: 1. Group of related tasks lasting one year or less. 2. Project with a cost over $1 million. 3. Group of related projects, subprograms, and program activities managed in a coordinated way. 4. Sequence of steps constituting a project.

3. Group of related projects, subprograms, and program activities managed in a coordinated way.

The PMBOK® Guide is the standard for: A. Managing all projects all of the time across all industries. B. Managing all projects all of the time across some types of industries. C. Managing most projects most of the time across many types of industries. D. Managing some projects some of the time across some types of industries.

C Managing most projects most of the time across many types of industries.