Project Management Test 1

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A project is a temporary endeavor undertaken to create a unique
True
product, service, or result.
A project is a lasting endeavor undertaken ot maintain a reliable
False
product or service.
Most projects are conducted with constraints on the amount of
True
time and funding available to the project manager.
Project plans and goals usually become more specific as early
True
work is completed.
Operations consist of the ongoing work needed to ensure the
True
organization continues to function effectively.
Customers may need to sacrifice expectations related to cost or
True
schedule in order to realize their expectations for scope or quality.
An important factor used to determine the phases in a project life
True cycle are the control needs of the organization(s) involved in the
project.
Generally, project life cycle stages are designed so that the
False
amount of money spent in each of the stages is nearly equivalent.
Project customers can be either internal or external to the orga-
True
nization.
Different project life cycle models are used for different types of
True
projects.
All projects go through a common project life cycle that includes
False
four stages: concept, development, production and close-out.
The name and number of phases in a project life cycle are deter-
True
mined by the organization(s) involved in the project.
Integration management represents the processes and activities
True to identify, define, combine, unify and coordinate the various
processes and project management activities.
Scope management includes the processes to manage timely
False
completion of the project.
Communications management generally entails the processes
False
that organize, manage, and lead the project team.
Stakeholder management is comprised of the processes to iden-
tify the people, groups, or organizations that could impact or be
True impacted by the project, analyze their expectations and impact,
and developing strategies for engaging them and managing con-
flicting interests.
Cost management processes are involved in planning, estimating,
True budgeting,m financing, funding, managing and controlling costs
so that the project can be completed within the approved budget.
The most critical measures of project success are completing the
False
project on schedule and on budget.
Some projects are considered successful if they reap business
True benefits like increased profitability, even if completed late or over
budget.
In reality, many projects are fully successful in some ways, but less
True
successful in others.
In agile projects, the customer representative role is passive, and
False their involvement is typically limited to the early stages of the
project.
The project manager is normally directly accountable for the pro-
True
ject results, schedule and budget.

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The project management office (PMO) is typically the person or
False group that provides the financial resources and support for the
project, and is accountable for enabling success.
Which of the following examples is NOT a typical or appropriate
situation to employ project management?

c a.improving an existing work process

b.installing a new computer system
c.conducting a routine, standard customer service operation
d.developing a new product
Which of the following examples is NOT a typical or appropriate
situation to employ project management?

B a.improving a soldering process in an assembly line

b.processing deposits and withdrawals in a bank
c.installing a new accounting application on to a server
d.developing a new medical device for use by clinics
All of the following factors have influenced the increased reliance
upon project management in recent years EXCEPT:

a.rapid growth and changes in the information technology and

telecommunications industries
D
b.realization that methods for large projects can be modified and
used for small projects
c.increased international competition and its influence on con-
sumer demands
d.the decreased demands of ongoing operational work
Projects often require tradeoffs among all of the following EX-
CEPT:

D a.scope
b.cost
c.schedule
d.programs
Once projects are completed, they will typically yield all of the
following results EXCEPT:

B a.a unique product, service or result

b.make or buy decisions
c.stakeholders whose interests are affected by the outcome
d.a primary deliverable along with supporting deliverables
In an adaptive or change - driven project life cycle:
a.the product or deliverable is well understood.
C b.planning precedes all executing.
c.early results lead into planning later work.
d.the waterfall approach is commonly used.
Which of the following statements correctly describes project
management?

a.Project management applies knowledge, skills, tools and tech-

niques to project activities.
A b.Project management should not involve tradeoffs between
scope, schedule and cost.
c.Project management only relies upon checklists to plan and
execute the work.
d.Project management's goal is to maintain efficiency of ongoing
operations.
Which of the following statements regarding project life cycles is
most accurate?

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a.All research and development organizations rely upon a

four-stage project life cycle that includes initiating, planning, exe-
cuting and closing.
C b.The project life cycle is the same regardless of the type of
projects managed by an organization.
c.Many different project life cycle models are used, for different
types of projects.
d.All project life cycles are the same across every industry
In the PMBOK, the five logical groupings of the project manage-
ment inputs, tools and techniques, and outputs are called the:
a.project management knowledge areas
B
b.project management process groups
c.life cycle stages
d.phases and gates
When applied to project management, the human resource man-
agement knowledge area typically involves which of the following
activities?

a.
determining the work necessary for project completion
D
b.
estimating, budgeting and controlling project costs
c.
identifying, analyzing and controlling project risks
d.
organizing, managing and leading the project team
Which of the ten knowledge areas defined in the Project Man-
agement Body of Knowledge includes the processes required to
ensure that the project includes all the work required, and only the
work required, to complete the project successfully?
a.
Project scope management
A
b.
Project quality management
c.
Project communications management
d.
Project stakeholder management
Which of the ten knowledge areas defined in the Project Man-
agement Body of Knowledge includes the activities of purchasing
or acquiring products, services or results from outside the project
team?

a.
D Scope management
b.
Quality management
c.
Communications management
d.
Procurement management
Achieving project success is determined by all of the following
EXCEPT:

B a.creating deliverables that include all required features

b.involving only important key stakeholders
c.completing the project on schedule and on budget
d.providing outputs that please the project's customers

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Projects are considered successful for all of the reasons below
EXCEPT:..

a.
members of the team learn new skills working on the project.
C b.
the organization captures lessons learned for future projects.
c.
the team has demonstrated heroics to meet project objectives
d.
the organization reaps business level benefits.
Which of the following actions will likely cause a project to fail?

a.
dedicating valuable team member time to identify risk events
b.
C
spending project funding to procure needed tools and spare parts
c.
unclear or conflicting stakeholder expectations
d.
conducting a project audit to evaluate performance
Project failure can result from all of the following causes EXCEPT:

a.support of senior management

A
b.changes in scope are not agreed upon by all parties involved.
c.too little time is allowed for project completion.
d.planning is not adequate.
A project manager in agile projects who serves and leads in a
collaborative, facilitation manner is called a:

B a.program manager
b.scrum master
c.sponsor
d.functional manager
Typically, a steering team or leadership team is responsible for all
of the following project related roles EXCEPT:

B a.selecting, prioritizing and resourcing projects

b.providing rigid policies, procedures, standards and guidelines
c.ensuring accurate progress is reported and adjustments made
d.aligning projects with the organization's strategic plans
Which of the following roles is typically associated with the project
manager?

a.the person assigned by the performing organization to lead the

team that is responsible for achieving the project objectives
A b.the person with management authority over a unit within a
functional organization
c.the person responsible for project methods, standards and train-
ing
d.the person responsible for providing the financial resources and
support for the project and is accountable for enabling success.
Typically, the senior customer representative is responsible for
which of the following project roles?

C a.develops the project schedule and budget

b.determines how the project work will be accomplished
c.ensures the needs of the customer's organization are identified
and prioritized

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d.helps the project manager with running meetings and providing
status reports
From an agile project management perspective, which of these
constraints are considered to be fixed?
a.Quality and value
B
b.Resources and schedule
c. scope and time
d.Customer satisfaction
Strategic analysis is an important first step in setting strategic
True
direction.
Strategic analysis is often called SWOT - Strengths, Weaknesses,
True
Opportunities and Threats (SWOT).
Strategic analysis is often called SWOT - Start With Objectives
False
Template (SWOT).
The internal part of strategic analysis considers opportunities and
False threats posed by competitors, suppliers and regulatory agencies
among others.
The organization's leadership should establish guiding principles
True such as the vision and mission for an organization before devel-
oping strategic objectives.
The organization's leadership should establish the strategic ob-
False
jectives to set the stage for the strategic analysis.
The vision should present a positive, inspiring and vivid descrip-
False
tion of the organization as it currently exists.
Strategic objectives should focus decisions regarding which pro-
True
jects to select and how to prioritize them.
Strategic objectives describe both long and short term results that
True
are desired, along with measures to determine their achievement.
Projects tend to be the primary method for implementing many
True
objectives
A portfolio is a collection of projects, programs, subportfolios, and
True operations managed as a group to achieve strategic business
objectives.
A project portfolio is a useful storage medium that enables the
False project manager to consolidate all project information in a single,
convenient location.
Portfolio management aligns with organizational strategies by se-
True lecting the right projects, prioritizing work, and providing needed
resources.
If an organization does not have the right capabilities, a project
True
may be too difficult to complete successfully.
The degree of formality used in selecting projects varies widely
True
across organizations.
While there is a wide variety of projects across organizations, the
False
degree of formality used in selecting them is largely uniform.
The prioritization of projects in a portfolio should consider whether
True
the demands of performing each project are clearly understood
Payback period models do not consider the amount of profit that
True
may be realized after the costs are paid.
None of the financial project selection models ensure alignment
True
of the project with an organization's strategic goals.
Scoring models are most useful when there are multiple projects
True
and several criteria to consider.

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Traditional financial models are most useful when there are mul-
False
tiple projects and several criteria to consider.
There are times that certain projects must be selected regardless
True of any considerations such as strategic fit, profitability or proba-
bility of success.
In addition to considering financial factors, project selection
True should often consider how well each project fits with the organi-
zation's strategic planning.
Scoring models are very useful in providing input regarding the
True
starting order of projects.
Project selection scoring models are very useful in providing
False
performance data that can be used to terminate a project.
When a firm prepares to submit a proposal, it is really conducting
True a small project with the primary deliverable of the project being a
compelling and complete proposal.
When a client company decides to engage an external contractor
False to perform project work, it must be prepared to submit a proposal
and prepare a bid.
Which of the following statements concerning strategic analysis is
true?

a.
Strategic analysis focuses exclusively upon external analysis.
b.
External analysis focuses on the strengths and weaknesses of the
D
organization.
c.
Internal analysis focuses on the threats and opportunities facing
the organization.
d.
External analysis focuses on the threats and opportunities facing
the organization.
All of the following factors influence the opportunities and threats
an organization must consider when performing a strategic analy-
sis EXCEPT:

a.
competitors
D
b.
suppliers
c.
regulatory agencies
d.
employees
A clear and compelling vision will have all the following character-
istics EXCEPT:

a.
often requires extra effort to achieve.
C b.
often requires several years to achieve.
c.
provides detailed roadmap for managing a project
d.
helps stakeholders to understand the direction of the firm.
Which of the following responses most accurately depicts the
correct sequence of activities in the strategic planning process?

a.
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strategic objectives - strategic analysis - guiding principles -
flow-down objectives
b.
guiding principles - strategic analysis - strategic objectives -
flow-down objectives
C c.
strategic analysis - guiding principles - strategic objectives -
flow-down objectives
d.
guiding principles - strategic objectives - flow-down objectives -
strategic analysis
Many writers have stated that effective objectives should be:

a.
broad - to cover many dimensions of the business
b.
B
measurable - to track progress
c.
unachievable - to inspire maximum performance
d.
resource based - to focus on the inputs
All of the following statements concerning project portfolios are
true EXCEPT:

a.
The projects in a portfolio are grouped to be managed collectively.
B b.
Portfolios cannot include operations and programs.
c.
Portfolios usually include a mix of high-risk and low-risk projects.
d.
All projects in a portfolio contribute to the organization's goals.
Portfolios deal with all of an organization's projects, while pro-
grams deal with:
a.
ongoing operations
b.
B
a specific group of related projects
c.
resource availability
d.
tradeoffs between schedule, scope and quality
Portfolio management helps an organization achieve its strategic
goals in all of the following ways EXCEPT:

a.
managing ongoing projects
A b.
providing needed resources
c.
selecting the right projects
d.
prioritizing work to be done
The document that describes why the project is needed, and may
include estimated costs and benefits, is called a:
a.
program management plan
B
b.
business case
c.
SWOT analysis
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d.
guiding principle
All of the following factors should be assessed to determine an
organization's ability to perform projects EXCEPT:

a.
Does the organization have free and open communication, cre-
ativity, and empowered decision making?
b.
C
Does the organization have a clearly defined project management
process?
c.
Do teams and individuals follow instructions well?
d.
Does the organization monitor and understand it's external envi-
ronment?
All of the following represent appropriate sources to identify new
potential projects EXCEPT:

a.
existing and potential customers
D b.
the operations staff within the organization
c.
industry and trade journals
d.
lessons learned from previous projects
Which of the following statements best describes the contem-
porary use of financial models and scoring models for project
selection?

a.
These methods are often used together to ensure financial and
non-financial factors are both considered.
b.
A
Financial methods are preferred because they ensure alignment
with the organization's strategic goals.
c.
Scoring models are unreliable because they fail to consider finan-
cial factors.
d.
One of these techniques is typically used to the exclusion of the
other, due to time demands.
Which of the following statements correctly describes a weakness
associated with the financial project selection model?

a.
The benefit-to-cost models favor projects which generate the
smallest absolute return over a specified period.
b.
B Payback period models do not consider the profit to be realized
after the costs are paid.
c.
The Net Present Value (NPV) method does not consider the time
value of money.
d.
The Internal Rate of Return (IRR) method is difficult to use when
a project has conventional cash flows.
All of the following criteria serve as a valid basis for identifying
potential projects in most organizations EXCEPT:

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a.
social need
b.
environmental considerations
D
c.
technological advances
d.
internal politics
Once selected projects have been prioritized, it is time to assign
resources to projects based on their order of priority. Resources
could include all of the following EXCEPT:
a.
C subject matter experts
b.equipment
c. quality metrics
d.
money
Which of the following is NOT a typical source selection criterion
that an organization would use to evaluate potential contractors?
a.
life cycle cost
b.
C
references
c.
personalities
d.
technical approach
All of the following organizations can effectively use a scoring
model to select and prioritize competing projects EXCEPT:

a.
the leadership team
D b.
client companies
c.
contractor companies
d.
program management office
All of the following may be negotiated between a client company
and a contractor EXCEPT:
a.
the amount of money to be paid.
b.
C
quality standards
c.
selection criteria for scoring models
d.
personnel assignments

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