project management chapters 1-3

Which of the following is not part of the triple constraint?

A. Scope goals B. Time goals C. communication goals D. Cost goals C

Which of the following is not a potential advantage of using good project management?

A. Shorter development times B. Higher worker morale C. Lower cost of capital D. Higher profit margins C

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

Project

many organizations find duplicate or unneeded projects after they perform which step in project portfolio management?

putting all projects in one list

the last step in the four-stage planning process for projects is ___

resource allocation

The __________ section of a project charter is important because it acknowledges stakeholder agreement on the need for a project.

sign-off

what is a crucial part of the project charter - a section in which key product stakeholders acknowledge their agreement in the need for the project?

sign-off

Human relations or ________ skills include effective communication, leadership, motivation, and negotiation skills

soft

which document should not be made available to all key project stakeholders due to its sensitive nature?

stakeholder analysis

What should be the first stage in the planning project for project selection?

strategic planning

project portfolio management addresses ________ goals of an organization, while project management addresses _______ goals.

strategic, tactical

What does the S stand for in a SWOT analysis?

strengths

A college approved a project to provide discounts for faculty, students, and staff to use the city's new light-rail system. Under what existing program might this project naturally fit?

transportation program

You can create a __________ with branches radiating out from a core idea to help perform a SWOT analysis.

mind map

The ___________ cost of capital is the return available by investing the capital elsewhere.

opportunity

In which knowledge area do the best or alpha project managers spend almost twice as much time as typical project managers?

planning

in which of the five project management process groups are activities performed that relate to each knowledge area?

planning

several individual housing projects done in the same area by the same firm might best be managed by a ___

program

Which of the following is considered to be a "super tool" or tool that has high use and high potential for improving project success?

progress reports

what document formally recognizes the existence of a project and provides direction on the projects objectives and management?

project charter

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

project management

preparing a stakeholder register and performing a stakeholder analysis are part of which knowledge area?

project stakeholder management

Approximately what percentage of the worlds gross domestic product is spent on projects?

25%

If a project cost is only $100 up front and its annual benefits are $20/year, what is its payback period?

5 years

If a weighted score for a project is based on just two criteria, fit with strategy, weighted 70% and ROI, weighted 30%, what would be the weighted score for a project with scores of 80 on fit with strategy and 50 on ROI?

71

Based on a 2010 study, approximately what percent of U.S. companies have project management offices?

84%

Which of the following questions would not be addressed by project portfolio management but by project management?

A. Do we have the right resources to be competitive? B. Are projects on time and on budget? C. Are we working in the right areas? D. Are we working on the right projects? B

Which of the following statements is true?

A. You must pay a fee to use Microsoft Project 2010, AtTask, and MindView Business Software with this text. B. Students can not join PMI for a reduced fee. C. You can earn the Certified Associate in Project Management (CAPM) without having work experience. D. There were over 450,000 people with the CAPM credential as of the end of 2011. C

which of the following is not a major benefit of grouping projects into programs

A. Increasing revenues B. increasing authority C. saving money D. Saving time A

Which of the following is not an attribute of a project?

A. Projects are unique B. Projects are developed using progressive elaboration C. Projects have a primary customer or sponsor D. Projects involve no uncertainty D

which of the following is recommended in this text but not an output of initiating in the PMBOK guide, fifth edition?

A. project charter B stakeholder register C. kick-off meeting D. None of the above D

which of the following is not part of SWOT analysis

A. strengths B. weaknesses C. opportunities D. tactics D

which of the following statements is false concerning the financial analysis of projects

A. the higher the NPV the better B. a shorter payback period is better than a long one C. the required rate of return is the discount rate that results in an NPV of zero for the project D. ROI is the result of subtracting the project costs from the benefits and then dividing by the costs. C

What is the name of the software you can use to create mind maps and use a special 60-day trial from www.matchware.com/intropm?

MindView Business

According to a study by Pricewaterhouse Coopers, approximately what percentage of projects fail?

One-half

What project management methodology is the defacto standard in the U.K. and is used in over 50 countries?

PRINCE2

A ________ is a group of related projects managed in a coordinated way to obtain benefits and control that are not available from managing them individually.

Program

what is the popular certification program called that the project management institute?

Project management professional (PMP)

__________ is the tenth project management knowledge area that PMI added in 2012.

Project stakeholder management

What pre-initiating document can be written to justify investing in a project?

a business case

Which output of initiating is described in the text but not in the PMBOK® Guide, Fifth Edition?

a kick-off meeting

What section of a kick-off meeting agenda (or any other meeting agenda) helps you focus on results of the meeting?

action items

all project meetings with major stakeholders should include...

an agenda

Which of the following is not a project management process group?

analyzing

A ___________ is a project selection methodology that converts an organization's value drivers to a series of defined metrics.

balanced scorecard

a _____ is a methodology that converts an organizations value drivers such as customer service, innovation, operational efficiency, and financial performance - into a series of defined metrics

balanced scorecard

what document provides justification for investing in a project?

business case

it is very important to start at the top of the four-stage planning process pyramid to select projects that support the organizations _____

business strategy

the goal of project portfolio management is to help maximize business value to ensure ____

enterprise success

__________ is a set of principles that guide our decision making based on personal values of what is "right" and "wrong."

ethics

In which process group do you normally produce the main deliverables of a project?

executing

in which of the five project management process groups is the most time and money usually spent?

executing

the best, or "alpha" project managers spend more time on every process group than other project manages except for which one?

executing

Portfolio managers must have strong ____________ skills and understand how projects and programs can contribute to meeting strategic goals.

financial and analytical

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?

focus

You can use Excel's ________ function to find the internal rate of return of a project by setting the NPV to zero and varying the discount rate.

goal seek

what is the most significant characteristic or attribute of an effective project manager?

leads by example

Assuming the value of a dollar is worth more today than in the future, the net present value of a multi-year project should be _______ the sum of its cash flows.

less than

How should you manage stakeholders with a high interest in your project and a high amount of power?

manage closely

Even though a company might work on similar projects over and over again, such as building houses, providing training courses, or developing specific types of products, there are unique challenges because all projects involve ____________.

uncertainty