IT Project Management Exam

What is a discount factor? A. A multiplier for each year based on the discount rate and year—and then apply it to the costs and benefits for each year B. The rate used in discounting future cash flows. C. The minimum acceptable rate of return on an investment D. the amount of time it will take to recoup—in the form of net cash inflows—the total dollars invested in a project

A. A multiplier for each year based on the discount rate and year—and then apply it to the costs and benefits for each year

What is a project life cycle? A. A series of phases that a project passes through from start to completion. B. A series of phases that a business carries out C. A series of phases that the customer follows to place an order D. A plan that a CEO decides to implement

A. A series of phases that a project passes through from start to completion.

A portfolio is defined as _____ A. Collection of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives B. Provides leadership and direction for the project managers within the program. C. Template, document, output, or project deliverable. D. Well-defined objective in a project.

A. Collection of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives

What is strategic planning? A. Determining long-term objectives by analyzing the strengths and weaknesses of an organization, studying opportunities and threats in the business environment, predicting future trends, and projecting the need for new products and services B. Analyzing Strengths, Weaknesses, Opportunities, and Threats—which is used to aid in strategic planning C. A technique that uses branches radiating out from a core idea to structure thoughts and ideas D. A a tool that provides a systematic process for selecting projects based on many criteria

A. Determining long-term objectives by analyzing the strengths and weaknesses of an organization, studying opportunities and threats in the business environment, predicting future trends, and projecting the need for new products and services

_____ is an emergent ordered list of what is needed to improve the product. A. Product Backlog B. Product owner C. Product vision D. Product charter

A. Product Backlog

__________ coordinate the work of all other project management knowledge areas. A. Project Integration Management B. Project Backlog Management C. Project Hybrid Management

A. Project Integration Management

A series of phases that a project passes through from its start to its completion is best known as _____ A. Project life cycle B. The life cycle of projects C. Project Phase D. Project Process

A. Project life cycle

______ is the leading agile development method for completing projects with a complex, innovative scope. A. Scrum B. Kick-off meeting C. Kanban D. Predictive life cycle

A. Scrum

A SWOT analysis involves all the following except _____ A. Opportunities B. Strengths C. Team D. Weaknesses

A. Team

What is one way to define project success? A. The project met scope, time, and cost goals B. Clear expectations but failed to meet those expectations C. Small amount of project planning leading to a longer time to finish the project D. None of the others

A. The project met scope, time, and cost goals

What is an operation? A. The work done in organizations to sustain the business B. A temporary endeavor undertaken to create a unique project, service, or result C. Includes initiating, planning, executing, monitoring and controlling, and closing activities D. A group of related projects, subsidiary programs, and program activities managed in a coordinated manner to obtain benefits not available from managing them individually

A. The work done in organizations to sustain the business

A stakeholder register is: A. a document that includes details related to the identified project stakeholders. B. where a person registers themselves as stakeholders. C. where a person notes who is a stakeholder and documents their name and address to ensure that they are kept up with the projects. D. a document that only the stakeholder registrar can see.

A. a document that includes details related to the identified project stakeholders.

What is a project? A. Work done to sustain the business. B. A temporary endeavor to create a unique product, service, or result C. A task that has a start date with no end date. D. A temporary business plan that involves only a specialized skill set.

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

Which of the following is not one of the three important methods included in financial projections? A. Net present value analysis B. Data analysis C. Return on investment. C. Payback analysis

B. Data analysis

What factors are used to determine the project lifecycle approach that will be used? A. Project uncertainty and organization culture B. Industry standards and resource availability C. Time and money

B. Industry standards and resource availability

What statement is true about the use of predictive and agile approaches? A. Predictive is always better to use over an agile approach B. Predictive and agile approaches should be used together depending on the project's needs. C. For an agile approach, the requirements must be defined upfront and have key stakeholders involved only at certain milestones. D. Neither approach should be used in project management. Instead, a project manager should use the newly revised productive approach

B. Predictive and agile approaches should be used together depending on the project's needs.

What is an important artifact for agile planning? A. Coding Scheme B. Product Roadmap C. Visual Summary D. None of the above

B. Product Roadmap

A collection of logically related project activities culminating in completing one or more deliverables. A. Project life cycle B. Project phase C. Process D. Project Initiation

B. Project phase

A _______ ensures that all scrum events occur and are positive, productive, and kept within the timebox. A. Transparency B. Scrum master C. Inspection D. Adaptation

B. Scrum master

____ is a document that includes details related to the identified project stakeholders. A. Business case B. Stakeholder register C. Elden journal D. Vision Board

B. Stakeholder register

The following can be reasons projects fail EXCEPT: A. Unclear expectations B. Sufficient resources and/or time C. Stakeholders disagree on expectations D. Inadequate project planning

B. Sufficient resources and/or time

Which of the following is NOT an internal stakeholder? A. Project sponsor B. Project team C. Competitors D. Support Staff

C. Competitors

Which of the following is not a part of strategic planning? A. Analyzing the strengths and weaknesses of an organization. B. Predicting future trends. C. Creating short-term and long-term goals for the organization D. Determining long-term objectives.

C. Creating short-term and long-term goals for the organization

Which of the following is not one of the five project management processes? A. Planning B. Controlling C. Decision-making D. Monitoring

C. Decision-making

____ is a unique and verifiable product, result, or capability to perform a service that is required to be produced to complete a process, phase, or project. A. Project B. Edible C. Deliverable D. Assignment

C. Deliverable

Which of the following is not an advantage of formal project management? A. Improved customer relations. B. Shorter development times. C. Higher costs D. Improved productivity.

C. Higher costs

A method of calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time is known as ____. A. Bank Balance B. Balance Sheet C. Net Present Value (NPV)

C. Net Present Value (NPV)

______ is the time it will take to recoup the total dollars invested in a project. A. Salary period B. Grace period C. Payback period D. Military period

C. Payback period

Who usually provides the direction and funding for a project? A. Project Coordinator B. Chief Executive Officer C. Project Sponsor D. VP of Project Management

C. Project Sponsor

Some organizations invest heavily in their project management. Which of the following is an entity created to assist project managers in achieving project goals? A. Project assistance office (PAO) B. Project manager role (PMM) C. Project management office (PMO) D. Manager break room

C. Project management office (PMO)

Organizations need to encourage workers at all levels and customers to submit project ideas because...? A. They want new ideas. B. They're running out of ideas. C. They know firsthand what problems they are encountering and what opportunities might be available. D. They want to hear different perspectives and compare those ideas with theirs.

C. They know firsthand what problems they are encountering and what opportunities might be available.

A business case is described as A. Formal organizational charts or biographies provide information B. A document that includes details related to the identified project information C. A document that formally recognizes the existence of a project and provides a summary of the project's objectives and management x D. A document that provides financial justification for investing in a project

D. A document that provides financial justification for investing in a project

An agile mindset can be described as having. A. Variable scope B. Fixed time C. Incremental releases D. All other

D. All other

Which of the following are attributes of a project? A. Has a unique purpose. B. Is temporary. C. Involves uncertainty. D. All other

D. All other

Which of the following could be potential stakeholders in a project? A. Staff B. Suppliers C. Employees D. All other

D. All other

Project _____ management consists of preparing and managing the budget for the project. A. Integration B. Scope C. Time D. Cost

D. Cost

What is not a benefit of grouping projects into programs? A. Increasing authority B. Saving money C. Saving time D. Guaranteed completion on time.

D. Guaranteed completion on time.

Using the stakeholder analysis power/interest grid, how should you manage a stakeholder who is very interested in your project but has little power in affecting the project? A. Keep satisfied B. Manage Closely C. Monitor D. Keep Informed

D. Keep Informed

______includes measuring progress toward achieving the project goals, monitoring deviation from plans, and taking corrective action to match progress with plans and customer expectations. A. Initiating processes B. Executing processes C. Closing processes D. Monitoring and controlling processes

D. Monitoring and controlling processes

Which of the following is not a principle of the Agile Manifesto? A. Business people and developers must work together daily throughout the project. B. Working software is the primary measure of progress. C. Simplicity—the art of maximizing the amount of work not done—is essential. D. Our highest priority is the speed at which we finish.

D. Our highest priority is the speed at which we finish.

Which of the following process groups includes devising and maintaining a workable scheme to ensure that the project meets its scope, schedule, cost goals, and organizational needs? A. Initiating process B. Executing process C. Monitoring and controlling process D. Planning Process

D. Planning Process

Which of the following development approaches is best described by changes being constrained as much as possible? A. Agile B. Iterative C. Incremental D. Predictive

D. Predictive

A best practice relating to project management is to ignore stakeholders. True OR False

False

A manager deals with high-level problems rather than level day-to-day details: True OR False

False

A project is the same as operations True OR False

False

Agile does not apply to strategic planning due to its short-term nature. True OR False

False

An agile approach to project management is always better than a predictive one. True OR False

False

Being a project manager does not require many skills. True OR False

False

Certifications provide little benefit for prospective careers in IT Project Management. True OR False

False

Directives are undesirable situations that prevent an organization from achieving its goal. True OR False

False

From the viewpoint of NPV only, if Project 2 has a higher NPV than Project 1, Project 1 should be chosen. True OR False

False

It is much better to have a longer payback period. True OR False

False

Predictive project management is also called waterfall of hybrid project management. True OR False

False

Product strategy is known as a low-level plan describing what the organization hopes to accomplish with its products and how it plans to do so True OR False

False

Stakeholders only consist of individuals who directly work on the project True OR False

False

When calculating return on investment (ROI), the lower the percentage, the better. True OR False

False

A balanced scorecard is a methodology that converts an organization's value drivers to a series of defined metrics. True OR False

True

A project charter is a document that formally recognizes the existence and provides a summary of the project objectives and management. True OR False

True

A project has a definite beginning and a definite end. True OR False

True

A stakeholder analysis power/interest grid can be created during initiation. True OR False

True

A stakeholder in your upcoming apartment complex can range from the college students looking to move out, the family who is looking for a more prominent place to live, to a guy across the country named Brad who happened to consider moving to your state (once) True OR False

True

Agile planning is much more flexible and allows teams to provide feedback on strategy, which can influence a change in direction. True OR False

True

An artifact can be a template, document, output, or project deliverable True OR False

True

Cost leadership attracts customers primarily because products or services are inexpensive. True OR False

True

Gantt chart is a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a calendar format. True OR False

True

Hybrid Project Management describes a mixture or combination of predictive and agile approaches. True OR False

True

Just as projects are unique, so are project portfolios. True OR False

True

Making ethical decisions is an important part of our personal and professional lives because it generates trust and respect with other people. True OR False

True

Organizations need to narrow down the list of potential projects to those projects that will be most beneficial. True OR False

True

Organizations—both large and small—cannot undertake most of the potential projects identified because of resource limitations and other constraints. True OR False

True

PMI's Agile Practice Guide defines agile as a term used to describe a mindset of values and principles as set forth in the Agile Manifesto. True OR False

True

Payback period is the amount of time it will take to recoup—in the form of net cash inflows—the total dollars invested in a project True OR False

True

Product owners are responsible for maximizing the value of the product created by the development team by managing the product backlog. True OR False

True

Strategic planning involves determining long-term objectives by analyzing strengths and weaknesses. True OR False

True

The main goal of programs is to obtain benefits and control not available from managing projects separately. True OR False

True

The shorter the payback period is, the better. True OR False

True

The traditional approach to project planning includes strategic planning, business area analysis, project planning, and resource allocations. True OR False

True

Assume a student's grade is calculated bassed on two exams, the first exam is worth 60% of the grade and the second is worth 40% of the grade. If the student scored 80% on the first exam and 90% on the second exam, what is the weighted score? a. 84% b. 86% c. 85% d. 83%

a. 84%

It is good practice to document meeting minutes, focusing on key decisions and ____ items. a. action b. undisclosed c. miscellaneous d. unresolved

a. action

Adaptive project management is used to describe an approach where the project scope _________. a. cannot be well-defined upfront b. is large c. is small d. can be well-defined upfront

a. cannot be well-defined upfront

Conducting work in a(n) ____ manner helps the profession earn the confidence of the public, employers, employees, and project team members. a. ethical b. secretive c. high-handed d. legalistic

a. ethical

If you are leading a project where requirements are not well defined, change is expected, and the customer wants several deliveries of useful products, which development approach might be most appropriate to use? a. incremental b. Adaptive c. iterative d. predictive

a. incremental

It often makes sense to break large projects down into two or more smaller ____. a. projects b. enterprises c. portfolios d. programs

a. projects

A ___________ is a description of what a customer or user would want from a product or solution. a. user story b. customer request c. Scrum backlog d. user requirement

a. user story

Which of the following is NOT an example of a project? a. A government group develops a program to track immunizations. b. A young couple marries and follows the same daily routine for three years c. A medical technology firm develops a device that connects to smartphones. d. A pharmaceutical company launches a new drug or vaccine.

b. A young couple marries and follows the same daily routine for three years

A set of principles that guide our decision-making based on personal values of what is right or wrong. a. Rules b. Ethics c. Mods d. Boundaries

b. Ethics

Because many projects fail due to unclear requirements and expectations, starting with a project ____ makes sense. a. champion b. charter c. vision statement d. compact

b. charter

A ____ is a product or service produced or provided as part of a project. a. result b. deliverable c. requirement d. process

b. deliverable

A ____________ focuses on long-term goals while inspiring people to reach those goals. a. Scrum master b. leader c. manager d. project manager

b. leader

Many organizations claim that using project management ____. a. diminishes customer relations b. lowers costs c. lengthens development time d. educes internal coordination

b. lowers costs

A ____________ is a single source or work undertaken by a Scrum team. a. user story b. product backlog c. contract d. WBS

b. product backlog

Individual projects often address ____ goals, whereas project portfolio management addresses strategic goals. a. long-term b. tactical c. program d. minor

b. tactical

According to the ____ value of money, a dollar today is worth more than a dollar tomorrow. a. economic b. time c. discretionary d. financial

b. time

A business ____ is a document that provides justification for investing in a project. a. template b. charter c. case d. blueprint

c. case

A ____ rate is the rate used in discounting future cash flows. a. cash flow b. prime c. discount d. markup

c. discount

A large company continues to be successful by providing new products and services for its market niche of brides. What is its main competitive strategy? a. cost leadership b. customer service c. focus d. Quality

c. focus

A positive NPV means the return from a project exceeds the ____ cost of capital—the return available by investing the capital elsewhere. a. cost of investment b. cost of capital c. opprontinity

c. opprontinity

A ____ is defined as projects, program, subsidiary portfolios, and operations managed as a group to achieve strategic objectives. a. core b. strategy c. portfolio d. hybrid approach

c. portfolio

If it is crucial to meet schedule and cost goals, the ____ must be flexible. a. resources b. time-frame c. scope d. risk

c. scope

After a project is approved, senior managers should meet to determine the ____, time, and cost constraints for the project. a. boundary b. range c. vision d. scope

d. scope