IS445 Final Exam Study Guide With
Complete Solutions
T/F According to CHAOS study, the number of successful projects has more than
doubled, from 16 percent in 1994 to 37 percent in 2010. - ANSWER True
T/F A NPV that is greater than zero is best. - ANSWER True
T/F Resources and risk are examples of typical project constraints. - ANSWER True
T/F The project manager should pick and choose which knowledge areas he/she
wishes to utilize, while managing a project. - ANSWER False
T/F The planning process group requires the most resources and time. - ANSWER
False
T/F Project management process groups do not occur sequentially. - ANSWER True
T/F A project should be developed using progressive elaboration, starting from specific
details and broadening in scope as it progresses. - ANSWER False
T/F Monitoring and controlling processes overlap all of the other project management
process groups. - ANSWER True
T/F A project manager is assigned by the project sponsor. - ANSWER True
T/F All organizations have a Project Management Office (PMO). - ANSWER False
T/F Portfolio management addresses questions like are we working on the right
projects? - ANSWER True
T/F According to the textbook, the top ten skills and competencies for effective project
managers include: people skills, listening, and having their PMP. - ANSWER False
, If a project cost is only $100 upfront and its annual benefits are $20/year, what is the
payback period for this project? - ANSWER 5 Years
In which of the five project management process groups are activities performed that
relate to every knowledge area? - ANSWER Planning
One of your team members informs you that he/she does not know which of the many
projects he/she is working on is the most important. Who should determine the priorities
among projects in a company? - ANSWER The project management office
T/F The higher the payback period, the better. - ANSWER False
A _______ chart is often used to show projects in terms of their risk, value, and size. -
ANSWER Bubble
A market demand, a business need, and/or legal requirements are examples of: -
ANSWER Reasons projects are initiated
What document formally recognizes the existence of a project and provides direction on
the project's objectives and management? - ANSWER Project Charter
What is a crucial part of the project charter, in particular a session in which key project
stakeholders acknowledge their agreement on the need for the project? - ANSWER
Sign-off
You are assigned as the project manager in the middle of the project. The project is
withing the baselines, but the customer is not happy with the performance of the project.
What is the first things you should do? - ANSWER Meet with the customer
There are usually more potential projects than an organization can undertake at any
one time, so it is important to work on the most ________ ones first. - ANSWER
Important
The PMBOK Guide is a _________ that describes best practices for what should be
done to manage a project; a _________ describes how things should be done. -
ANSWER Standard, Methodology
Many software development projects follow ________ methodologies, meaning they
use an iterative workflow and incremental delivery of software in short iterations. -
ANSWER Agile
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? - ANSWER Transportation Program
Complete Solutions
T/F According to CHAOS study, the number of successful projects has more than
doubled, from 16 percent in 1994 to 37 percent in 2010. - ANSWER True
T/F A NPV that is greater than zero is best. - ANSWER True
T/F Resources and risk are examples of typical project constraints. - ANSWER True
T/F The project manager should pick and choose which knowledge areas he/she
wishes to utilize, while managing a project. - ANSWER False
T/F The planning process group requires the most resources and time. - ANSWER
False
T/F Project management process groups do not occur sequentially. - ANSWER True
T/F A project should be developed using progressive elaboration, starting from specific
details and broadening in scope as it progresses. - ANSWER False
T/F Monitoring and controlling processes overlap all of the other project management
process groups. - ANSWER True
T/F A project manager is assigned by the project sponsor. - ANSWER True
T/F All organizations have a Project Management Office (PMO). - ANSWER False
T/F Portfolio management addresses questions like are we working on the right
projects? - ANSWER True
T/F According to the textbook, the top ten skills and competencies for effective project
managers include: people skills, listening, and having their PMP. - ANSWER False
, If a project cost is only $100 upfront and its annual benefits are $20/year, what is the
payback period for this project? - ANSWER 5 Years
In which of the five project management process groups are activities performed that
relate to every knowledge area? - ANSWER Planning
One of your team members informs you that he/she does not know which of the many
projects he/she is working on is the most important. Who should determine the priorities
among projects in a company? - ANSWER The project management office
T/F The higher the payback period, the better. - ANSWER False
A _______ chart is often used to show projects in terms of their risk, value, and size. -
ANSWER Bubble
A market demand, a business need, and/or legal requirements are examples of: -
ANSWER Reasons projects are initiated
What document formally recognizes the existence of a project and provides direction on
the project's objectives and management? - ANSWER Project Charter
What is a crucial part of the project charter, in particular a session in which key project
stakeholders acknowledge their agreement on the need for the project? - ANSWER
Sign-off
You are assigned as the project manager in the middle of the project. The project is
withing the baselines, but the customer is not happy with the performance of the project.
What is the first things you should do? - ANSWER Meet with the customer
There are usually more potential projects than an organization can undertake at any
one time, so it is important to work on the most ________ ones first. - ANSWER
Important
The PMBOK Guide is a _________ that describes best practices for what should be
done to manage a project; a _________ describes how things should be done. -
ANSWER Standard, Methodology
Many software development projects follow ________ methodologies, meaning they
use an iterative workflow and incremental delivery of software in short iterations. -
ANSWER Agile
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? - ANSWER Transportation Program
