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Project Management
Project Management
Project Management 1
The correct answer for each question is indicated by a This is the correct
answer..
1 Which of the following is not one of the commonly heard comments of
project managers?
A) Where did this project come from?
B) Why are we doing this project?
C) How can all these projects be first priority?
D) Why is this project so strongly linked to the strategic plan?
E) Where are we going to get the resources to do this project?
Ans : D
2 Strategy considered to be under purview of senior management is
A) Old school thinking
B) A new school of management thought
C) Necessary in a company structure
D) Beneficial to the Project Manager
E) Dependent on company goals
Ans: A
3 The intended outcome of strategy/projects integration is
A) Clear organization focus
B) Best use of scarce organization resources
C) Improved communication across projects and departments
D) Both A and C are correct
E) A, B, and C are all correct
Ans: E
4 Project managers who do not understand the role that their project plays
in accomplishing the organization's strategy tend to make all the following
mistakes except:
A) Focusing on low priority problems
B) Overemphasizing technology as an end in and of itself
C) Focusing on the immediate customer
D) Trying to solve every customer issue
E) All the above are likely mistakes
Ans: E
5 The textbook indicated that ________ is the major dimension of strategic
management.
A) Responding to changes in the external market
B) Allocating scarce resources of the organization
C) Beating competition to the market
D) Both a and b are correct
E) Both a and c are correct
ANS grin emoticon
6 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
ANS:D
7 Strategy formulation includes which of the following activities?
A) Determining alternatives
B) Creating profitability targets
C) Evaluating alternatives
D) Both a and c are correct
E) A, B, and C are all correct
ANS:D
8 The assessment of the external and internal environments is called
_______ analysis.
A) SWOT analysis
B) Competitive
C) Industry
D) Market
E) Strategic
ANS:A
9 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) All of these are requirements
ANS:E
10 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
ANS: D
11Project selection criteria are typically classified as:
A) Financial and non-financial
B) Short-term and long-term
C) Strategic and tactical
D) Required and optional
E) Cost and schedule
ANS:A
12 Which of the following is not one of the classifications for assessing a
project portfolio?
A) Sacred cow
B) Bread-and-butter
C) Pearls
D) Oysters
E) White elephants
ANS:A
13 Which of the following is the reason(s) why project managers need to
understand their organization's mission and strategy?
A) To make appropriate decisions and adjustments
B) To be effective project advocates
C) To be able to get their job done
D) Both A and B are correct
E) A, B, and C are all correct
ANS:D
14 Which of the following is not true of multi-weighted 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 the above are true
ANS: E
15 Which of the following is a common multicriteria selection model?
A) Checklist
B) Net Present Value
C) Weighted criteria model
D) Both A and C are correct
E) All of these are common multicriteria selection models
ANS:D
Project Management 2
Project management 4
The process of forecasting or approximating the time and cost of completing project deliverables is called
A)
Budgeting
B)
Predicting
C)
Estimating
D)
Planning
E)
Guesstimating
Top-down estimates are most likely to occur during the ______ phase.
A)
Concept
B)
Planning
C)
Execution
D)
Delivery
E)
All of these are equally likely
Learning curves are more likely to apply in situations where most of the
costs are
A)
Materials
B)
Labor
C)
Overhead
D)
Evenly spread over materials, labor, and overhead
E)
All of these are equally likely situations for learning curves
The approach that begins with a top-down estimate for the project and
then refines estimates as the project is implemented is known as ______
method.
A)
Function point
B)
Template
C)
Learning curve
D)
Phase estimating
E)
Apportion
The cost to prepare bottom-up estimates will typically run how much
more than the costs to prepare the top-down estimates?
A)
About the same
B)
About twice as much
C)
About three times as much
D)
About four times as much
E)
About five times as much
Project costs are typically viewed from all of the following except:
A)
Scheduled
B)
Sunk
C)
Actual
D)
Committed
E)
All of these are correct
Reasons why estimating time and cost are important include all of the
following except:
A)
To schedule work
B)
To determine how long the project should take and cost
C)
To develop cash flow needs
D)
To determine how well the project is progressing
E)
All of the above are valid reasons
The bottom-up approach for estimating times and costs that uses costs
from past projects that were similar to the current project is known as:
A)
Detailed WBS work package estimates
B)
Template method
C)
Function point method
D)
Time-phased cost estimates
E)
Phase estimating
Design flaws being revealed after the fact, extreme weather conditions,
and accidents occurring are examples of:
A)
Hidden interaction costs
B)
Things going wrong on a project
C)
Normal conditions not applying
D)
Changes in project scope
E)
None of these are correct
Which of
the
following
represents
an activity
on an AON
project
network?
A)
An arrow
B)
A line
C)
A node
D)
Both A and B are correct
E)
A, B, and C are all correct
Which of the following is not one of the basic rules to follow when developing
project networks?
A)
An activity cannot begin until all preceding activities have been completed
B)
Each activity must have a unique identification number
C) Conditional statements are allowed but looping statements are not
allowed
D) An activity identification number must be larger that that of any preceding
activities
E)
Networks flow from left to right
The amount of time an activity can be delayed and yet not delay the project is
termed
A)
Total slack
B)
Free slack
C)
Critical float
D)
Float pad
E)
Slip pad
An
uncertain
event or
condition
that, if it
occurs,
has a
positive
or
negative
effect on
a project
objectives
is
termed.
A) Random chance
B) A disaster
C) Risk
D) Hazard
E) Bad luck
The cost impact of a risk event occurring as a project proceeds through its life
cycle tends to
A) Slowly rise
E) Slowly drop
Which of the following is not one of the steps in the risk management
process?
B) Risk assessment
C) Risk identification
D) Risk tracking
B) Murphy's Law
A) Profile
B) Questionnaire
C) Research
D) Query
E) Checklist
All of the following are included in the risk identification process except
A) Customers
B) Subcontractors
C) Competitors
D) Vendors
The easiest and most commonly used technique for analyzing risks is _____
analysis.
A) Probability
B) Scenario
C) Payback
D) Risk/reward
E) Impact
A) Ratio/range analysis
B) Decision tree
C) PERT simulation
D) PERT
A) Mitigating
B) Retaining
C) Ignoring
D) Transferring
E) Sharing
A) Often the kind that can cause the project to be shut down.
B) Problematic
B) Change control
C) Contingency reserves
D) Risk register
E) Risk profiles