Exam 1 MGT 325 Questions with
Complete Solutions20
What is a project? - ANSWERS-Definition: A complex, non-routine, one-time effort limited by
time, budget, resources, and performance specifications designed to meet customer needs.
A project is a temporary endeavor undertaken to create a unique product, service, or result.
Major characteristics of a project - ANSWERS-- Has an established objective.
- Has a defined life span with a beginning and an end.
- Requires cross-organizational participation.
- Accomplishes non-routine tasks
- Has specific time, cost, and performance requirements.
What is Project Management? - ANSWERS-Project management is the application of knowledge,
skills, tools and techniques to project activities to meet project requirements.
Managing a project includes: - ANSWERS-- Identifying requirements
-Addressing the needs of stakeholders
,- Balancing the competing project constraints of:
Scope
Quality
Schedule
Budget
Resources
Risk
Program defined - ANSWERS-A program is a group of related projects managed in a coordinated
way to obtain benefits and control not available from managing them individually.
Primary difference between Program vs. Project - ANSWERS-Scale and Life-span
The project life cycle - ANSWERS-The life cycle recognizes that projects have a limited life span
and that there are predictable changes in level of effort and focus over the life of the project.
The project life cycle typically passes sequentially through four stages: defining, planning,
executing, and delivering.
Defining stage - ANSWERS-Specifications of the project are defined; project objectives are
established; teams are formed; major responsibilities are assigned.
Planning stage - ANSWERS-The level of effort increases, and plans are developed to determine
what the project will entail, when it will be scheduled, whom it will benefit, what quality level
should be maintained, and what the budget will be.
Executing stage - ANSWERS-A major portion of the project work takes place—both physical and
mental. The physical product is produced (a bridge, a report, a software program).
, Closing stage - ANSWERS-Closing includes three activities: delivering the project product to the
customer, redeploying project resources, and post-project review. Delivery of the project might
include customer training and transferring documents. Redeployment usually involves releasing
project equipment/materials to other projects and finding new assignments for team members.
The project manager - ANSWERS-Typically perform the same functions as other managers. That
is, they plan, schedule, motivate, and control. However, what makes them unique is that they
manage temporary, nonrepetitive activities, to complete a fixed life project. Unlike functional
managers, who take over existing operations, project managers create a project team and
organization where none existed before. They must decide what and how things should be done
instead of simply managing set processes.
-Project managers are ultimately responsible for performance
Project managers must work with a diverse troupe of characters to complete projects. They are
typically the direct link to the customer and must manage the tension between customer
expectations and what is feasible and reasonable.
Question 1 - define a project. what are the five characteristics that help differentiate projects
from other functions carried out in the daily operations of the organization? - ANSWERS-A
project is a complex, no routine, off-time effort limited by time, budget, resources, and
performance specifications designed to meet customer needs. The five characteristics are
• A defined life span with a beginning and an end
• Involvement of several departments
• Doing something unique
• Time, cost , and performance requirements
• To serve customers needs
Why Project Managers Need to Understand Strategy - ANSWERS--Changes in the organization's
mission and strategy:
Complete Solutions20
What is a project? - ANSWERS-Definition: A complex, non-routine, one-time effort limited by
time, budget, resources, and performance specifications designed to meet customer needs.
A project is a temporary endeavor undertaken to create a unique product, service, or result.
Major characteristics of a project - ANSWERS-- Has an established objective.
- Has a defined life span with a beginning and an end.
- Requires cross-organizational participation.
- Accomplishes non-routine tasks
- Has specific time, cost, and performance requirements.
What is Project Management? - ANSWERS-Project management is the application of knowledge,
skills, tools and techniques to project activities to meet project requirements.
Managing a project includes: - ANSWERS-- Identifying requirements
-Addressing the needs of stakeholders
,- Balancing the competing project constraints of:
Scope
Quality
Schedule
Budget
Resources
Risk
Program defined - ANSWERS-A program is a group of related projects managed in a coordinated
way to obtain benefits and control not available from managing them individually.
Primary difference between Program vs. Project - ANSWERS-Scale and Life-span
The project life cycle - ANSWERS-The life cycle recognizes that projects have a limited life span
and that there are predictable changes in level of effort and focus over the life of the project.
The project life cycle typically passes sequentially through four stages: defining, planning,
executing, and delivering.
Defining stage - ANSWERS-Specifications of the project are defined; project objectives are
established; teams are formed; major responsibilities are assigned.
Planning stage - ANSWERS-The level of effort increases, and plans are developed to determine
what the project will entail, when it will be scheduled, whom it will benefit, what quality level
should be maintained, and what the budget will be.
Executing stage - ANSWERS-A major portion of the project work takes place—both physical and
mental. The physical product is produced (a bridge, a report, a software program).
, Closing stage - ANSWERS-Closing includes three activities: delivering the project product to the
customer, redeploying project resources, and post-project review. Delivery of the project might
include customer training and transferring documents. Redeployment usually involves releasing
project equipment/materials to other projects and finding new assignments for team members.
The project manager - ANSWERS-Typically perform the same functions as other managers. That
is, they plan, schedule, motivate, and control. However, what makes them unique is that they
manage temporary, nonrepetitive activities, to complete a fixed life project. Unlike functional
managers, who take over existing operations, project managers create a project team and
organization where none existed before. They must decide what and how things should be done
instead of simply managing set processes.
-Project managers are ultimately responsible for performance
Project managers must work with a diverse troupe of characters to complete projects. They are
typically the direct link to the customer and must manage the tension between customer
expectations and what is feasible and reasonable.
Question 1 - define a project. what are the five characteristics that help differentiate projects
from other functions carried out in the daily operations of the organization? - ANSWERS-A
project is a complex, no routine, off-time effort limited by time, budget, resources, and
performance specifications designed to meet customer needs. The five characteristics are
• A defined life span with a beginning and an end
• Involvement of several departments
• Doing something unique
• Time, cost , and performance requirements
• To serve customers needs
Why Project Managers Need to Understand Strategy - ANSWERS--Changes in the organization's
mission and strategy:
