OMGT 5783 Project Management Midterm. Over 350 Actual Exam Questions with Correct and Verified Answers

OMGT 5783 Project Management Midterm. Over 350 Actual Exam Questions with Correct and Verified Answers "Which of these is NOT part of the "sociocultural dimension" of project management? a. Managing customer expectations b. Leadership c. Resource allocation d. Dealing with politics e. Negotiation - Correct Answer c. Resource allocation" "Any project life cycle is made up of stages. The project's schedule and budget will be determined in the ___________ stage of the project life cycle. a. planning b. defining c. executing d. closing e. conceptual - Correct Answer a. planning" "Training the customer, releasing staff and resources occurs in the ________ stage of project life cycle. a. defining b. planning c. conceptual d. closing e. executing - Correct Answer d. closing" "A series of coordinated, related, multiple projects that continue over an extended time period and are intended to achieve a goal is known as a a. Campaign. b. Strategy. c. Venture. d. Program. e. Crusade. - Correct Answer d. program" "An increase in the complexity of projects, because projects typically include the latest advances, can be the result of a growth in new __________. a. services b. products and services c. products d. processes e. knowledge - Correct Answer e. knowledge" Project management is not limited to the __________ sector. a. private b. international c. universal d. business and government e. global - Correct Answer a. private" "Which of the following represents the correct order of stages within the project life cycle? a. Defining, Planning, Executing, Closing b. Planning, Defining, Closing, Executing c. Executing, Defining, Planning, Closing d. Planning, Defining, Executing, Closing e. Closing, Planning, Defining, Executing - Correct Answer a. Defining, Planning, Executing, Closing" "A project life cycle a. must be dogmatically followed. b. will always have a phase called 'visioning'. c. reduces the amount of planning necessary. d. can vary based on the industry. e. will only ever consist of four phases. - Correct Answer d. can vary based on the industry." "Which of the following is NOT true about project management? a. It is not limited to the private sector. b. Many opportunities are available for individuals interested in this career path. c. It focuses primarily on technical processes. d. It is a set of tools. e. It improves one's ability to plan, implement and manage activities to accomplish specific organizational objectives - Correct Answer c. It focuses primarily on technical processes" "In which stage of the project life cycle is the project's schedule and budget determined? a. Closing b. Identifying c. Planning d. Defining e. Executing - Correct Answer c. planning" "A project does not include a. repetitive, same or similar work. b. unique elements. c. creating a new product or service. d. a specific objective. e. developing a new process. - Correct Answer a. repetitive, same or similar work" "Project management is ideally suited for a business environment requiring all of the following EXCEPT a. Repeatability. b. Accountability. c. Innovation. d. Flexibility. e. Speed. - Correct Answer a. repeatability" "Which of the choices listed below is NOT considered to be a characteristic of a project? a. For internal use only b. An established objective c. Specific time, cost and performance requirements d. A clear beginning and end e. Something never been done by a particular company before - Correct Answer a. for internal use only" "Which of the following is NOT typical of a project manager? a. Managing a nonrepetitive activity b. Work with a group of outsiders, including vendors and suppliers c. Overseeing existing operations d. Managing a temporary activity e. Responsible for time, cost and performance trade-off - Correct Answer c. Overseeing existing operations" "Project managers are expected to ensure that appropriate trade-offs are made between the time, cost, and __________ requirements of the project. a. scope b. functional c. quality d. specifications e. performance - Correct Answer e. performance" "A(n) _________ is a series of coordinated, related multiple projects that continue over an extended time intended to achieve a goal. a. program b. portfolio c. product family d. process e. folder - Correct Answer a. program" "This first chapter introduced some of the most rudimentary aspects of the discipline, including definitions. A temporary endeavor undertaken to create a unique product, service, or result is a(n) _________. a. undertaking b. All of these. c. activity d. task e. project - Correct Answer e. project" "Which of the following is NOT one of the stages of a project life cycle? a. Defining b. Executing c. Identifying d. Planning e. Closing - Correct Answer c. Identifying" "Which of the following is NOT a reason why project management has become a standard way of doing business? a. Projects need to be done faster. b. Organizations are doing more project work in-house instead of outsourcing. c. Increased need for skilled management of stakeholders outside of organization. d. Increased product complexity and innovation. e. Organizations are executing more and more projects. - Correct Answer b. Organizations are doing more project work in-house instead of outsourcing." "Which of the following is typically the responsibility of a project manager? a. All of these are typical responsibilities b. Meeting schedule requirements c. Meeting budget requirements d. Meeting performance specifications e. Coordinating the actions of the team members - Correct Answer a. All of these are typical responsibilities" "Project Managers are a. able to multitask. b. not timid. c. all of these. d. ultimately responsible for performance. e. a direct link to the customer. - Correct Answer c. all of these." "Iterative and incremental delivery means ______. a. product functionality is delivered all at once at the end of the project b. the project documentation is completed and delivered after each milestone c. the components or features of the project product or service are delivered one at a time throughout the duration of the project d. the entire project product or service is delivered all at once at the end of the project e. the project uses the traditional method of project management - Correct Answer c. the components or features of the project product or service are delivered one at a time throughout the duration of the project" "The establishment of project goals, specifications, and responsibilities usually occurs in the ________ stage of project life cycle. a. conceptual b. planning c. executing d. closing e. defining - Correct Answer e. defining" "In which stage of the project life cycle is the product of the project delivered to the customer and resources are released from the project? a. Executing b. Identifying c. Defining d. Planning e. Closing - Correct Answer e. Closing" "Project managers must have many competencies, among them leadership, teamwork and negotiation. Leadership, teamwork, and negotiation are examples of the _________ dimension of the project management process. a. technical b. sociocultural c. tools d. soft skills e. planning - Correct Answer b. sociocultural" "Traditional project management focuses on thorough planning up front. Such planning requires ____. a. predictability b. a planning budget c. a planning schedule d. thoroughness e. All of these alternatives are correct - Correct Answer a. predictability" "The product life cycle must be understood as totally different from the project life cycle. In today's high-tech industries the product life cycle is averaging _________ to 3 years. a. 1 year b. 9 months c. 18 months d. 3 months e. 6 months - Correct Answer e. 6 months" "People who are part of the project team need to understand project management because they a. All of these are reasons it is important for project team members to understand project management. b. Need to understand project priorities so they can make independent decisions. c. Work with others to create a schedule and budget. d. Need to be able to monitor and report project progress. e. Need to understand the project charter or scope statement that defines the objectives and parameters of the project. - Correct Answer a. All of these are reasons it is important for project team members to understand project management." "Projects with high predictability are said to have ____. a. the best circumstances for use of traditional project management b. unknown or unstable requirements c. iterative and incremental delivery d. the best circumstances for use of agile project management e. unknown or unstable scope - Correct Answer a. the best circumstances for use of traditional project management" "As the number of small projects increase within an organization's portfolio, what is a challenge an organization faces? a. All of these are challenges b. Prioritizing projects c. Measuring efficiency d. Sharing resources e. Managing risk - Correct Answer a. All of these are challenges" "In today's customer-focused organizations, the customer is recognized as the final authority of what constitutes quality. Nevertheless, customer tastes and feature preferences vary from customer to customer. Increased competition has placed a premium on customer satisfaction and the development of __________ products and services. a. consistent b. creative c. customized d. unique e. quality - Correct Answer c. customized" "One of the defining characteristics of a project is that it has a singular purpose, i.e., an established ________. a. mission b. objective c. goal d. purpose e. vision - Correct Answer b. objective" "In which stage of the project life cycle are project objectives established, teams formed, and major responsibilities assigned? a. Identifying b. Defining c. Closing d. Planning e. Executing - Correct Answer b. Defining" "Which of the following is NOT one of the driving forces behind the increasing demand for project management? a. Increasing need for concurrent multi-project management b. Compression of the product life cycle c. Knowledge explosion d. More sustainable business practices e. Declining need for product customization - Correct Answer e. Declining need for product customization" "A project life cycle is characterized as made up of stages. The final stage in the project life cycle is the __________ stage. a. closing b. planning c. conceptual d. executing e. defining - Correct Answer a. closing" "Which of the choices listed below is NOT considered a project? a. Designing a space station b. Developing a new advertising program c. Preparing the site for the Olympic Games d. Developing a new software program e. Production of automobile tires - Correct Answer e. Production of automobile tires" "For companies of moderate-to-large size, it is not unusual to have hundreds of small projects ongoing concurrently. The advent of many small projects has created the need for an organization that can support __________ management. a. program b. portfolio c. product d. multi-project e. concurrent - Correct Answer d. multi-project" "Like many other professions such as accounting, marketing and finance, there is a professional organization for project managers. One professional organization for project managers has grown from 93,000 in 2002 to more than 565,000 currently and is the ___________. a. Institute for Project Managers b. The Union of Project Professionals c. Project Management Institute (PMI) d. Society for Project Professionals and Project Managers e. Organization for Project Managers and Professionals - Correct Answer c. Project Management Institute (PMI)" "In which stage of the project life cycle are you more likely to find status reports, changes, and the creation of forecasts? a. Closing b. Planning c. Executing d. Defining e. Identifying - Correct Answer c. Executing" "Agile project management involves ____ whereas traditional project management involves _______. a. high certainty, projects with unstable scope b. iterative and incremental delivery, upfront planning with high predictability c. known and stable scope, unknown requirements d. projects with high predictability, project with unknown or unstable requirements e. high uncertainty, projects with unknown requirements - Correct Answer b. iterative and incremental delivery, upfront planning with high predictability" "The two dimensions within project management processes are a. Established and new. b. Unique and reoccurring. c. Cost and time. d. Planned and unexpected. e. Technical and sociocultural. - Correct Answer e. Technical and sociocultural." "Which of these is NOT part of the "technical dimension" of project management? a. Problem solving b. Status reports c. Budgets d. Schedules e. WBS - Correct Answer a. Problem solving" "Which of the following activities is the best example of a project? a. Overseeing customer requests b. Processing insurance claims c. Writing a policy manual d. Producing automobiles e. Monitoring product quality - Correct Answer c. Writing a policy manual" "Which of the following choices is a professional organization for project managers? a. PMI. b. IPM. c. MIS. d. AMA. e. PMBOK. - Correct Answer a. PMI." "A professional organization for project managers is the ___________. a. The Union of Project Professionals b. Organization for Project Managers and Professionals c. Project Management Institute (PMI) d. Institute for Project Managers e. Society for Project Professionals and Project Managers - Correct Answer c. Project Management Institute (PMI)" "Typically, a project sponsor is a, key to support a project to its' completion and a lower-level staff member. b. instrumental in approving a project and key to support a project to its' completion. c. key to support a project to its' completion. d. instrumental in approving a project. e. a lower-level staff member. - Correct Answer b. instrumental in approving a project and key to support a project to its' completion." "Project selection criteria are typically classified as a. cost and schedule. b. required and optional. c. strategic and tactical. d. financial and nonfinancial. e. short-term and long-term. - Correct Answer d. financial and nonfinancial." "Jack's organization has many projects ongoing concurrently. He finds himself starting and stopping work on one task to go and work on another task, and then return to the work on the original task. Jack is experiencing a. poor scheduling. b. excess work burden. c. flexible tasking. d. burnout. e. multitasking. - Correct Answer e. multitasking." "Which of the following is NOT true about organizational politics? a. Politics can play a role in the aspirations behind projects. b. Politics can influence project selection. c. Project managers should not engage in organizational politics. d. Politics exist in every organization. e. Politics can have a significant influence on which projects receive funding. - Correct Answer c. Project managers should not engage in organizational politics." "Project Priority Systems can resolve a. what to do next. b. over-sharing of resources. c. lack of consensus and understanding among top and middle managers. d. internal political issues. e. All of the these alternatives are correct. - Correct Answer e. All of the these alternatives are correct." "________ change infrequently and may require revision only when the nature of the business changes or shifts. a. Lessons learned b. Goals c. Mission statements d. Objectives e. Vision statements - Correct Answer c. Mission statements" "One who endorses and lends political support for the completion of a specific project is known as the a. Project lead. b. CEO. c. Project manager. d. Project sponsor. e. Sacred cow. - Correct Answer d. Project sponsor." "In which stage of the project life cycle is a major portion of the actual project work performed? a. Executing b. Identifying c. Closing d. Defining e. Planning - Correct Answer a. Executing" "Project management is being driven by a. elevated profit motive. b. knowledge explosion and increased customer focus. c. more projects being done in-house. d. increased customer focus. e. knowledge explosion. - Correct Answer b. knowledge explosion and increased customer focus." "Project Management is a style that places a premium on a. maintenance operations. b. including a diverse set of talent. c. building relationships and including a diverse set of talent. d. building relationships. e. extensive testing only. - Correct Answer c. building relationships and including a diverse set of talent." "When the project scope and/or technology are not fully known or stable, the best choice of method for such projects is a. budget-driven project management. b. agile-driven project management. c. traditional project management. d. plan-driven project management. e. schedule-driven project management. - Correct Answer b. agile-driven project management." "Because projects have a defined beginning and end, the ________ is frequently used to manage the transitions of a project from start to completion. a. transition life cycle b. development life cycle c. product life cycle d. project life cycle e. completion life cycle - Correct Answer d. project life cycle" "Life cycles are used to characterize how things change over time. The _____________ typically passes sequentially through four stages. a. completion life cycle b. product life cycle c. project life cycle d. development life cycle e. transition life cycle - Correct Answer c. project life cycle" "Project managers employ lots of useful tools, many supported by software. WBS, schedules, and budgets are tools taken from the _________ dimension of the project management process. a. sociocultural b. planning c. technical d. soft skills e. tools - Correct Answer c. technical" "Which of the following statements is true? a. Project management is a specialty that few organizations have access to. b. Project management is far from a standard way of doing business. c. All of these statements are false. d. Project management is increasingly contributing to achieving organizational strategies. e. Project management is being used at a consistent percentage of a firm's efforts. - Correct Answer d. Project management is increasingly contributing to achieving organizational strategies." "Which of the following is a good example of a program? a. Developing a new marketing plan b. Planning a wedding c. Taking notes each class meeting to prepare for the final d. Developing a new residential area that includes six custom homes e. Planting a garden - Correct Answer d. Developing a new residential area that includes six custom homes" "A project life cycle is characterized as made up of stages. The initial stage in the project life cycle is the __________ stage. a. defining b. executing c. planning d. conceptual e. closing - Correct Answer a. defining" "Agile PM is appropriate when _______. a. the project scope is well known b. projects of this type have been done many times before c. project scope is unknown or unstable d. the processes to be used are well known e. the technology to be used is well known - Correct Answer c. project scope is unknown or unstable" "Which dimension of project management centers on creating a temporary social system within a larger organizational environment that combines the talents of a divergent set of professionals working to complete the project? a. Communication b. Technical c. Scheduling d. Social e. Sociocultural - Correct Answer e. Sociocultural" "A project life cycle is characterized as made up of stages. A major part of the project work, both physical and mental, takes place in the ___________ stage of the project life cycle. a. executing b. closing c. planning d. conceptual e. defining - Correct Answer a. executing" "If a preliminary proposal is approved, then ____. a. a project manager and staff are assigned to develop a more comprehensive implementation plan b. the project is funded and formal detailed planning begins c. the project is funded or shelved awaiting funding d. the project is funded and execution begins e. the project is allocated limited resources - Correct Answer a. a project manager and staff are assigned to develop a more comprehensive implementation plan" "High-ranking managers who endorse and lend political support for the completion of a specific project are known as project _________. a. sponsors b. managers c. leaders d. executives e. politicians - Correct Answer a. sponsors" "Starting and stopping work on one task to go and work on another project, and then returning to work on the original task is known as ___________. a. start-and-stop b. multitasking c. concurrency d. parallelism e. confusion - Correct Answer b. multitasking" "Which of the following is NOT true for strategic management? a. It involves responding to changes in the external market and allocating scarce resources to improve a competitive position. b. It should be done once every few years just before developing the operating plan. c. It develops an integrated and coordinated long-term plan of action. d. It supports consistency of action at every level of the organization. e. It positions the firm to meet the needs of its customers. - Correct Answer b. It should be done once every few years just before developing the operating plan." "Strategy is implemented through ________. a. projects b. people c. policies d. portfolios e. products - Correct Answer a. projects" "Which of the following would be classified as an organizational opportunity? a. Increasing product demand b. Low debt c. Excellent employees d. Government regulation e. Talented management - Correct Answer a. Increasing product demand" "A weighted scoring model typically uses several weighted selection criteria to evaluate project proposals. An example of this would be a(n) ____________. a. score multiplication b. selection criterion c. project proposal d. project screening matrix e. weighted score - Correct Answer d. project screening matrix" "Which of the following is true of multi-weighted scoring models? a. Each criterion is assigned a weight. b. All of these are true. c. Will include qualitative criteria. d. Will include quantitative criteria. e. Projects with higher scores are considered more desirable. - Correct Answer b. All of these are true." "When a prioritization team is balancing projects, they consider all factors except for a. Type of project. b. Risk. c. Resource demand. d. Leadership style. e. All of these alternatives are correct. - Correct Answer d. Leadership style." "The assessment of the internal and external environments is known as a(n) ________. a. SWOT analysis b. Constraint-based reasoning c. Forecasting d. PDSA wheel e. Internal/external assessment - Correct Answer a. SWOT analysis" "An operational project is one that a. supports an organizations' long-run mission. b. is completed to meet regulatory compliance. c. can improve organizational performance. d. always is extremely relevant to the strategic vision of the organization. e. must be completed. - Correct Answer c. can improve organizational performance." "Project proposals are employed when _____and are used to make ______decisions. a. a high-level organization official wishes to submit a proposal, project cost and scheduling b. a project concept fails to get acceptance, project cost estimation c. a project idea is considered worthwhile, project selection d. a project concept fails to gain acceptance, project cost and scheduling e. a high-level organization official wishes to submit a proposal, project scheduling - Correct Answer c. a project idea is considered worthwhile, project selection" "Why do project managers need to understand their organization's mission and strategy? a. So they can make appropriate decisions and adjustments and be effective project advocates b. To reduce project duration and increase the number of projects implemented c. It is only important for senior management to understand the organization's mission and strategy d. So that they can make sure the customer is satisfied e. To get their job done and increase opportunities for promotion - Correct Answer a. So they can make appropriate decisions and adjustments and be effective project advocates" "Which of the following is NOT a problem associated with the absence of a project portfolio system? a. Implementation gap b. Resource conflicts c. Multitasking d. Lack of funding e. Organizational politics - Correct Answer d. Lack of funding" "A project that a powerful, high-ranking official is advocating is often termed a(n) ___________. a. Pearl b. Bread-and-butter project c. Oyster d. White elephant e. Sacred cow - Correct Answer e. Sacred cow" "__________ the portfolio system involves monitoring and adjusting selection criteria to reflect the strategic focus of the organization. a. Creating b. Managing c. Inventing d. Devising e. Designing - Correct Answer b. Managing" "A project screening matrix typically contains all of the following EXCEPT a. the list of available projects. b. specific criteria. c. All of these are typically contained. d. weights assigned to specific criteria. e. costs to complete each project. - Correct Answer e. costs to complete each project." "The lack of understanding and consensus of organization strategy among top and middle-level managers is known as the __________. a. priority confusion b. lack of consensus c. lack of comprehension and consensus d. implementation gap e. lack of comprehension - Correct Answer d. implementation gap" "All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT a. inadequate resources. b. people are working on multiple projects and feel inefficient. c. frequent conflicts between managers. d. confused employees regarding which projects are more important. e. not enough projects within the portfolio to make a profit. - Correct Answer e. not enough projects within the portfolio to make a profit." "In a SWOT analysis, good product quality, low debt, and an established supplier network are examples of internal ________. a. targets b. opportunities c. threats d. strengths e. weaknesses - Correct Answer d. strengths" "When creating a selection model, it is important to a. make it mathematically complex so it cannot be "gamed". b. assure the objectivity of the model. c. make certain the units used in the model are not inconsistent. d. not use it as the final determination for project selection. e. keep it secret from those submitting project proposals. - Correct Answer d. not use it as the final determination for project selection." "The financial model that measures the time it will take to recover the project investment is the __________ model. a. recovery b. threshold c. break through d. investment e. payback - Correct Answer e. payback" "Which of the following is NOT one of the requirements for successful implementation of strategies through projects? a. Adequate planning and control systems b. Allocation of resources c. Quality management d. Prioritizing of projects e. Motivation of project contributors - Correct Answer c. Quality management" "The purpose of the management system that spans the lifetime of any project is _____. a. ensure the project stays within both budget and schedule b. ensure the project stays within budget c. All of these alternatives are correct d. ensure the project remains on schedule e. ensure the project is worthwhile and is contributing to the goals and strategy of the organization - Correct Answer e. ensure the project is worthwhile and is contributing to the goals and strategy of the organization" "At each gate a(n) _______ is made. a. judgement b. evaluation c. decision d. analysis e. assessment - Correct Answer c. decision" "Which of the following is NOT true when managing a portfolio system? a. It requires input from senior management. b. The qualities of a particular project are assessed within the context of existing projects. c. Within a small organization it can be managed by a small group of key employees. d. It does not require a constant effort. e. It involves monitoring and adjusting criteria to reflect the strategic focus of the organization. - Correct Answer d. It does not require a constant effort." "The strategic activity that focuses on what needs to be accomplished is a. analyze and formulate strategies. b. set objectives to achieve strategy. c. review and define the organizational mission. d. implement strategies through projects. e. reflection and inquiry into the organization's history of past projects. - Correct Answer a. analyze and formulate strategies." "A project selection process that is strongly linked to strategy results in a. the most profit. b. stronger core competencies. c. better utilization of the organization's resources. d. more projects. e. a larger and more diverse organization. - Correct Answer c. better utilization of the organization's resources." "In classifying the kinds of projects an organization has in its portfolio, projects that are typically needed to support current operations are _________ projects. a. Sacred cow b. Strategic c. Compliance (must do) d. Operational e. Conformance - Correct Answer d. Operational" "The process of assessing "what we are" and deciding and implementing "what we intend to be and how we are going to get there" is ______________. a. goal and objective clarity b. reflection and inquiry c. strategic management d. vision and mission setting e. mission assessment - Correct Answer c. strategic management" "In some cases, organizations will use a(n) __________ to solicit ideas for projects when the knowledge requirements for the project are not available in the organization. a. RFQ (Request for Quote) b. RFP (Request for Proposal) c. RFP (Request for Project) d. RFP (Request for People) - Correct Answer b. RFP (Request for Proposal)" "A financial model that measures the current value of all cash inflows and outflows using management's minimum desired rate of return is known as the _________ model. a. Net present value (NPV) b. Inflow/outflow c. Internal rate of return (IRR) d. Return on assets (ROA) e. Return on investment (ROI) - Correct Answer a. Net present value (NPV)" "The following are responsibilities of the governance team when managing a portfolio system EXCEPT a. constant scanning of the external environment to determine if organizational selection criteria need to be changed. b. evaluating the progress of the projects in the portfolio. c. publishing the priority of every project and ensuring the process is open and free of power politics. d. deciding how organizational resources are allocated among the different types of projects. e. communicating which projects are approved. - Correct Answer d. deciding how organizational resources are allocated among the different types of projects." "How strategies will be realized, given available resources, is answered through __________. a. implementation b. resource allocation c. frameworks d. strategy formulation e. projects - Correct Answer a. implementation" "Which of the following is NOT true about an organization's strategy? a. Only top management must understand strategy. b. Strategy determines how an organization will compete. c. Project selection should be clearly aligned with strategy. d. Strategy is implemented through projects. e. Project management plays a key role in supporting strategy. - Correct Answer a. Only top management must understand strategy." "The management system that spans the lifetime of the project is called the ____. a. lifetime model b. lifetime phase exit model c. lifetime cycle model d. phase gate model e. project lifetime model - Correct Answer d. phase gate model" "Which of the following problems refers to lack of understanding and consensus of organization strategy among top and middle-level managers? This also can result when top management formulates strategy and leaves implementation to functional managers. a. Multitasking b. Organization politics c. Resource conflicts d. Employee turnover e. Implementation gap - Correct Answer e. Implementation gap" "Examples of nonfinancial criteria include all of the following EXCEPT a. making it difficult for competitors to enter the market. b. calculating the time it will take to recover the project investment. c. preventing government intervention and regulation. d. reducing dependency on unreliable suppliers. e. capturing a larger market share. - Correct Answer b. calculating the time it will take to recover the project investment." "Project managers who understand the role that their project plays in accomplishing the organization's strategy will be inclined to do all of the following EXCEPT a. be able to focus on problems or solutions if the project is a low priority strategically. b. demonstrate to senior management how their project contributes to the firm's mission. c. be able to respond appropriately to delays and/or questions about product design. d. explain to team members why certain project objectives and priorities are critical. e. explain to stakeholders why certain project objectives and priorities are critical. - Correct Answer a. be able to focus on problems or solutions if the project is a low priority strategically." "In classifying the kinds of projects an organization has in its portfolio, projects that are typically those needed to meet regulatory conditions required to operate in a region are ___________ projects. a. Sacred cow b. Operational c. Conformance d. Strategic e. Compliance (must do) - Correct Answer e. Compliance (must do)" "People within an organization working on multiple efforts concurrently is an indicator of a. project prioritization b. completely allocated staff. c. optimized processes. d. shrewd scheduling. e. too many projects taken on at once. - Correct Answer e. too many projects taken on at once." "A SWOT analysis provides the Project Manager with a. a direct linkage to goals and an identifiable strategic alternative. b. an identifiable strategic alternative. c. potential critical issues facing the organization. d. an identifiable strategic alternative and potential critical issues facing the organization. e. a direct linkage to goals. - Correct Answer d. an identifiable strategic alternative and potential critical issues facing the organization." "In a SWOT analysis, strong competition, reduced product demand, and a maturing product life cycle are examples of external __________. a. weaknesses b. targets c. opportunities d. strengths e. threats - Correct Answer e. threats" "The assessment of the external and internal environments is called _______ analysis. a. Strategic b. Competitive c. SWOT d. Market e. Industry - Correct Answer c. SWOT" "Which of the following is NOT one of the traditional components found in mission statements? a. Contribution to society b. Geographic domain c. Major products and services d. Target customers and markets e. Profitability - Correct Answer e. Profitability" "The __________ financial model measures the current value of all cash inflows using management's minimum desired rate of return. a. CABB b. None of these alternatives are correct c. IRS d. ARR e. IRB - Correct Answer b. None of these alternatives are correct" "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. All of these are answered by the mission statement. e. What do we want to become? - Correct Answer e. What do we want to become?" "In classifying the kinds of projects an organization has in its portfolio, projects that directly support the organization's long-term mission are ________ projects. a. Operational b. Sacred cow c. Conformance d. Strategic e. Compliance (must do) - Correct Answer d. Strategic" "A list of potential projects, several criteria, weights for those criteria, and criteria scores for those projects are all typically included on a(n) ___________ matrix. a. Project selection b. Project screening c. Project assessment d. Project elimination e. Multiple criteria - Correct Answer b. Project screening" "Which of the following is NOT one of the characteristics of effective objectives? a. Flexible b. Specific c. Measurable d. Realistic e. Assignable - Correct Answer a. Flexible" "In order to formulate strategies that align with the mission, some of the activities the organization will need to perform are a. examine the external environment. b. analyze competitors. c. assess internal strengths and weaknesses. d. All of these should be considered when formulating strategies. e. know their core competencies. - Correct Answer d. All of these should be considered when formulating strategies." "The first part of the management system that spans the lifetime of the project is called the ____. a. project exit process b. project kill process c. project phase exit d. project gate process e. project selection process - Correct Answer e. project selection process" "Three possible outcomes emanate from each gate. They are ____. a. encourage, discourage, pass b. continue, kill, enhance c. allocate resources, reduce resources, cancel d. proceed, cancel, or revise and submit e. reduce scope, kill, increase scope - Correct Answer d. proceed, cancel, or revise and submit" "Which of the following terms is often used to denote a project that a powerful, high-ranking official is advocating? a. Strategic ploy b. Special undertaking c. Political necessity d. Sacred cow e. Pet project - Correct Answer d. Sacred cow" "Regardless of the criteria differences among different types of projects, typically the most important criterion for project selection is a. the project's fit to the organization strategy. b. profit. c. nonfinancial. d. compliance. e. how the project will balance risk within the project portfolio. - Correct Answer a. the project's fit to the organization strategy." "Projects are usually classified into all but one of the following categories. Which one is NOT one of the typical classifications? a. Strategic b. Operational c. Political necessity d. All of these are typical classifications. e. Compliance and emergency - Correct Answer c. Political necessity" "When considering criteria used to select projects, capturing a larger market share or reducing the dependency on unreliable suppliers would both be examples of __________ criteria. a. Multiple b. Operational c. Supplier d. Financial e. Nonfinancial - Correct Answer e. Nonfinancial" "What the organization wants to become and the scope of the firm in terms of its product or service would be identified in the organization's ____________. a. lessons learned b. goals c. mission statement d. objectives e. values - Correct Answer c. mission statement" "Which of the following is the correct order for the strategic management process? a. Objectives, projects, mission, strategies b. Projects, mission, strategies, objectives c. Strategies, mission, objectives, projects d. Mission, strategies, objectives, projects e. Objectives, mission, strategies, projects - Correct Answer d. Mission, strategies, objectives, projects" "________ translate the organization's strategy into specific, concrete, and measurable terms. a. Lessons learned b. Vision statements c. Objectives d. Goals e. Mission statements - Correct Answer c. Objectives" "When it comes to project prioritization, senior management is responsible for a. directing the organization to a strong future position. b. determining the priority of each project. c. All of the these choices are correct. d. developing a culture where everyone contributes to the goals of the organization. e. setting the course for the organization. - Correct Answer c. All of the these choices are correct." "Which of the following would be classified as an organizational external threat? a. Slowing of the economy b. High labor costs c. Excellent employees d. Poor product quality e. Declining facilities - Correct Answer a. Slowing of the economy" "Scope creep is a big issue when managing projects. Which of the following is NOT true regarding scope creep? a. It is when the project budget is exceeded. b. It is the tendency for the project scope to expand over time. c. It can have both positive and negative impacts on a project. d. It can lead to added costs and possible project delays. e. It most likely caused by a scope statement that is too broad. - Correct Answer a. It is when the project budget is exceeded." "Which of the following items has to do with the expected measurable outputs over the life of the project? a. Justification b. Project objective c. Milestones d. Deliverables e. Product scope description - Correct Answer d. Deliverables" "A project professional is viewing a document that delineates the specific deliverables and sub-deliverables required to complete the writing of a technical support manual. He is most likely viewing the a. work breakdown structure. b. responsibility matrix. c. priority matrix. d. organization breakdown structure. e. work package. - Correct Answer a. work breakdown structure." "If a project is small and does not require an elaborate system to assign tasks, which of the following is a good choice? a. Work breakdown structure b. Process breakdown structure c. Priority matrix d. Responsibility matrix e. Organization breakdown structure - Correct Answer d. Responsibility matrix" "When specific work packages are assigned to a particular group or person within the organization, the result is called a(n) ___________. a. work breakdown structure b. organization breakdown structure c. process breakdown structure d. responsibility matrix e. project priority matrix - Correct Answer b. organization breakdown structure" "Having a strong communication plan can go a long way toward mitigating project problems. A communication plan should address all of the following EXCEPT a. all of these should be addressed in a communication plan. b. which methods will be used to gather and store information. c. what information needs to be collected and are there limits as to who has access to it. d. how information should be communicated and to whom. e. when the information will be communicated. - Correct Answer a. all of these should be addressed in a communication plan." "All of the following are usually included in a work package EXCEPT a. a single person who is responsible for its completion. b. work to be done. c. all the costs for the work package. d. All of these are included in a work package. e. the time needed to complete the work. - Correct Answer d. All of these are included in a work package." "There are 5 steps involved when defining a project; which of the following is the last? a. Develop the responsibility matrix b. Assign the work package to a manager c. Code the WBS for tracking d. All of these are included in the final step. e. Assign the cost account to a manager - Correct Answer c. Code the WBS for tracking" "Within any project, the first step of project scope definition is to a. analyze the strategic plan. b. analyze the current budget plan. c. define the overall objective to meet the customer's needs. d. meet with team members. e. select team members. - Correct Answer c. define the overall objective to meet the customer's needs." "Which of the following items has to do with conditions that must be met before the deliverables are accepted? a. Milestones b. Technical requirements c. Acceptance criteria d. Deliverables e. Limits and exclusions - Correct Answer c. Acceptance criteria" "Which of the following items on the Project Scope Checklist answers the question "What end result is wanted?" a. Deliverables b. Milestones c. Product scope description d. Project objective e. Justification - Correct Answer c. Product scope description" "Scope creep results in changes to requirements, specifications, and priorities and these in turn result in _____ and _____. a. increases in scope, compromised requirements b. cost overruns, delays c. added costs, budgetary overruns d. project delays, schedule overruns e. None of these alternatives is correct. - Correct Answer b. cost overruns, delays" "After reviewing the project scope statement, the owner specifies that costs MUST stay within $400,000. This criterion is classified as a. limited. b. accepted. c. constrained. d. enhanced. e. fixed. - Correct Answer c. constrained." "In reviewing the project plan, a project professional sees that the first prototype must be completed by October 12. This would be best classified as a a. limit item. b. project objective. c. critical goal. d. project target. e. milestone. - Correct Answer e. milestone." "The type of information that will need to be collected during a project and who will receive this information can be found in the project __________ plan. a. assignment b. communication c. requirements d. responsibility e. creation and design - Correct Answer b. communication" "You are writing a project scope definition document. Which of the following is NOT one of the items that would appear on a project scope statement or checklist? a. Limits and exclusions b. Deliverables c. Technical requirements d. Project Objectives e. Work breakdown structure - Correct Answer e. Work breakdown structure" "The agreement that training will be the responsibility of the customer and not the team is an example of a project ________. a. acceptance criteria b. milestones c. technical requirements d. product scope description e. limits and exclusions - Correct Answer e. limits and exclusions" "The result of subdividing the work of a project into smaller and smaller work elements is called a(n) __________. a. project priority matrix b. process breakdown structure c. responsibility matrix d. organization breakdown structure e. work breakdown structure - Correct Answer e. work breakdown structure" "A key aspect to communication plans are that they allow the project manager and the project team to a. actively control the flow of information. b. effectively control costs on the project. c. be more creative in their communications. d. meet deadlines more effectively. e. focus on defect resolution. - Correct Answer a. actively control the flow of information." "Taking advantage of opportunities to reduce costs or accelerate the schedule are examples of project criteria classified as ____________. a. unchangeable b. accepted c. enhanced d. constrained e. static - Correct Answer c. enhanced" "Which of the following items on the Project Scope Checklist answers the question "What is the problem or opportunity the project is addressing?" a. Product scope description b. Milestones c. Deliverables d. Project objective e. Justification - Correct Answer e. Justification" "The gradual expansion of project requirements, specifications and priorities during the execution of project is known as ____________. a. scope creep b. an absence of scope control c. scope enhancement d. WBS vagueness e. expanding requirements - Correct Answer a. scope creep" "A technique that clearly establishes priorities with customers and top management so as to create shared expectations and avoid misunderstandings is developing a(n) ___________. a. project priority matrix b. responsibility matrix c. organization breakdown structure d. process breakdown structure e. work breakdown structure - Correct Answer a. project priority matrix" "A Process Breakdown Structure can provide a reasonable alternative to a Work Breakdown structure for an extensive development project if a. phase exit criteria are firmly established. b. risk planning is included early in the project. c. tangible products are being developed. d. deliverables are tightly aligned to milestones. e. there are appropriate predecessor relationships in place - Correct Answer a. phase exit criteria are firmly established." "Which of the following tools would you as project manager likely prefer if you are managing a medium-to-large software development project? Your project is driven by performance requirements, not by plans/blueprints. a. Responsibility matrix b. All of these alternatives are correct. c. PBS d. WBS e. OBS - Correct Answer c. PBS" "The ability of a 911 emergency system to identify the caller's phone number and location is considered to be a a. milestone. b. project deliverable. c. project limit. d. project exclusion. e. technical requirement. - Correct Answer e. technical requirement." "Which of the following items has to do with significant events in the life of a project, such as completion of deliverables, at a specific point in time? a. Deliverables b. Project objective c. Milestones d. Justification e. Product scope description - Correct Answer c. Milestones" "Which of the following is least likely to be included in a work package? a. How long the work package should take to complete b. The person responsible for the work package c. A description of work to be performed d. How much the work package should cost to complete e. Overhead expenses - Correct Answer e. Overhead expenses" "You have just been given a project that has a specific completion date. After a discussion with top management you find that while the date is important the cost is more important and a slip in delivery would be acceptable if required to meet the cost targets. The completion date is best classified as a. constrained. b. limited. c. reduced. d. optional. e. accepted. - Correct Answer e. accepted." "The final step in defining a project is __________ the WBS for the information system. a. validating the scope b. integrating the WBS with the organization c. coding the WBS d. finalizing requirements e. assigning each work package to a single person - Correct Answer c. coding the WBS" "The WBS is best suited for design and construction projects that have tangible outcomes. When the final outcome of the project is less tangible or it is the result of a series of steps or phases, some project managers choose to utilize a(n) ___________. a. Responsibility Matrix (RM) b. Work Breakdown Structure (WBS) Modified c. Organization Breakdown Structure (OBS) d. Project Priority Matrix (PPM) e. Process Breakdown Structure (PBS) - Correct Answer e. Process Breakdown Structure (PBS)" "Scope creep can be reduced by carefully writing a(n) __________. a. scope statement b. project charter c. project plan d. requirements document e. statement of work - Correct Answer a. scope statement" "In many cases, the causes of scope creep reflect a misfit between ____. a. agile project management methods being applied to projects with high predictability b. agile project management methods being applied to projects with stable, static scope c. traditional project management methods being applied to projects with high certainty d. traditional project management methods being applied to high uncertainty projects e. agile project management methods being applied to projects involving the application of uncertain technology - Correct Answer d. traditional project management methods being applied to high uncertainty projects" "If the project scope needs to change, it is critical to have a sound _______ in place that records the change. a. statement of work b. WBS c. project charter d. change control process e. requirements document - Correct Answer d. change control process" "The project scope statement indicates that the client is responsible for training the people who will be using the equipment and that the project team will train the client's trainers. This is an example of a. milestones. b. limits and exclusions. c. technical requirements. d. deliverables. e. project objectives. - Correct Answer b. limits and exclusions." "The need for a functioning computer in countries having different electrical systems is an example of a ________. a. technical requirement b. electrical incompatibility c. justification d. project objective e. acceptance criteria - Correct Answer a. technical requirement" "Five steps are involved when defining a project. Which of the following is the first? a. Verify the budget available b. Establish project priorities c. Assign team members to work on the project d. Determine the required completion date e. Define the project scope - Correct Answer e. Define the project scope" "The WBS is best suited for projects that have a tangible outcome. Which of the following is used when the final outcome of the project is less tangible or is a product of a series of steps or phases? a. Responsibility matrix b. A work breakdown structure is still effective for these types of projects. c. Organization breakdown structure d. Process breakdown structure e. Priority matrix - Correct Answer d. Process breakdown structure" "Which of the following items has to do with the overall goal of meeting your customer's needs? a. Project objective b. Milestones c. Deliverables d. Justification e. Product scope description - Correct Answer a. Project objective" "One way for a project manager to communicate the authority granted to individual project members is to publish a a. responsibility matrix. b. work breakdown structure. c. project hierarchy of reporting authority. d. project plan. e. project communication plan. - Correct Answer a. responsibility matrix." "Which of the following is a good example of a Process Breakdown Structure? a. New car prototype b. New software program c. New sports stadium d. New instruction manual e. New project management book - Correct Answer b. New software program" "The most detailed element in the hierarchical breakdown of the project work to be accomplished is known as the __________. a. subdeliverable b. cost account c. deliverable d. work package e. lowest subdeliverable - Correct Answer d. work package" "The integration of the lowest level of the WBS with the organizational units responsible for performing the work is known as a. organization breakdown structure. b. work breakdown structure. c. process breakdown structure. d. responsibility matrix. e. priority matrix. - Correct Answer a. organization breakdown structure." "In making project trade-offs, a criterion that is allowed not to meet the original target, for example, allowing the schedule to slip, is classified as ___________. a. accepted b. constrained c. unchangeable d. static e. enhanced - Correct Answer a. accepted" "The highest element in the hierarchical breakdown of the WBS is a. the project. b. major deliverables. c. sub-deliverables. d. a work package. e. a cost account. - Correct Answer a. the project." "Significant events in a project that occur at a specific point in time, are natural control points, and are easily recognized by project participants are known as ___________. a. due dates b. kill points c. activities d. tasks e. milestones - Correct Answer e. milestones" "There are 5 steps involved when defining a project; which of the following is the second? a. Establish project priorities b. Analyze the strategic plan c. Select team members d. Analyze the current budget plan e. Define the major objectives to meet the customer's need - Correct Answer a. Establish project priorities" "The lowest element in the hierarchical breakdown of the WBS is a. a work package. b. a deliverable. c. a lowest sub-deliverable. d. a cost account. e. an object. - Correct Answer a. a work package." "The last element of a project scope statement or checklist ensures an understanding and agreement of expectations. This is known as ____________. a. technical requirements b. limits and exclusions c. milestones d. acceptance criteria e. deliverables - Correct Answer d. acceptance criteria" "A communication plan is a key component for giving guidelines on how to track project ____. a. defects. b. Both costs and defects. c. costs. d. All of these choices are correct. e. issues. - Correct Answer e. issues." "Which of the following is not a common cause of scope creep? a. Not involving users early enough b. Underestimating project complexity c. Policy change d. Poor requirements analysis e. Lack of change control - Correct Answer c. Policy change" "All of the following are ways the WBS helps in managing projects EXCEPT a. with cost and time estimates the WBS makes it possible to plan, schedule and budget the project. b. it provides management with information appropriate to each level. c. as it is developed, organizational units and individuals can be assigned responsibility of work packages. d. allows the project manager to establish the overall objective of the project. e. can be used to define communication channels. - Correct Answer d. allows the project manager to establish the overall objective of the project." "When work packages are integrated with organizational units, a control point is created called a a. priority matrix. b. work package. c. cost account. d. responsibility matrix. e. project overlap. - Correct Answer c. cost account." "The definition of the end result or mission of your project, or what you expect to deliver to your customer when the project is complete is the project ___________. a. test b. product c. scope d. lessons learned e. bill or invoice - Correct Answer c. scope" "A document that is issued by upper management and provides the project manager with written authority to use organizational resources for project activities is called a(n) __________. a. requirements document b. statement of work c. project charter d. scope statement e. project plan - Correct Answer c. project charter" "Scope definition is among the first tasks that must happen in projects. How is project scope defined? a. What you expect to deliver to your customer when the project is complete b. The range of resources you have available and their capabilities c. The deliverables or outputs during the course of the project d. The length of your project and how much it will cost e. The range of customer expectations - Correct Answer a. What you expect to deliver to your customer when the project is complete" ""To construct a high-quality, custom home within five months at costs not to exceed $150,000" is best classified as a. a deliverable. b. a limit. c. a milestone. d. an objective. e. an exclusion. - Correct Answer d. an objective." "In regard to project priorities, if a project parameter such as the completion date or the cost of a project is fixed and must be met, it is considered ____________. a. unchangeable b. static c. accepted d. constrained e. enhanced - Correct Answer d. constrained" "Once the __________ has been established, it is the basis for making trade-off decisions later in the project. a. organization breakdown structure b. project priority matrix c. responsibility matrix d. work breakdown structure e. process breakdown structure - Correct Answer b. project priority matrix" "One of the primary jobs of a project manager is to manage the trade-offs associated with the project. Which of the following is NOT one of the basic classifications of project priorities? a. Time b. All of these are basic classifications. c. Performance d. Cost e. Profit - Correct Answer e. Profit" "A selective outline of the project that ensures the identification of all tasks and an understanding of what is to be done is called a(n) ____________. a. organization breakdown structure b. process breakdown structure c. product breakdown structure d. work breakdown structure e. project breakdown structure - Correct Answer d. work breakdown structure" "One tool that is used by project managers of small projects to summarize the tasks to be accomplished and who is responsible for what on a project is called a(n) __________. a. activity assignment matrix b. task assignment table c. activity responsibility table d. responsibility matrix e. task responsibility table - Correct Answer d. responsibility matrix" "A "Dissemination Mode" is a. All of these choices are correct. b. a description of what is important to project stakeholders. c. how project schedules are version controlled. d. None of these choices are correct. e. what defines how project communication is to occur. - Correct Answer e. what defines how project communication is to occur." "One of the primary jobs of a project manager is to manage the trade-offs among time, cost, and performance. To do so, the project manager must define and understand the ___________ of the project. a. WBS b. project charter c. communications plan d. priorities e. requirements - Correct Answer d. prioritie