PROJECT MANAGEMENT C783 QUESTIONS
WITH 100% CORRECT ANSWERS |GRADED
A+
IRR (internal rate of return) - Correct Answer -The discount rate when the present value of the cash
inflows equals the original investment. Projects with higher IRR values are generally considered
better than projects with lower IRR values. IRR assumes that cash inflows are reinvested at the IRR
value.
Operation - Correct Answer -Operation is a function that performs ongoing taks and constitutes an
organization's on-going, repetitive activities such as accounting or production. It is used to run regular
business models and is performed to achieve business goal and sustain the business
Organization - Correct Answer -Organization is a process of dividing work into sections and
departments. It involves allocation of authority, responsibility, and duties among all the members of
an enterprise. It is a group of individuals organized to work for some purpose or mission.
Payback period - Correct Answer -The length of time it takes a company to recover the initial cost of
producing a product or service of a project
Performing organization - Correct Answer -performing organization is referred to as the specific
enterprise or group that is viewed by all parties to be the one that is most directly and explicitly
involved in all phases and aspects of doing any and all work of the given and respective project. It is
the organization that is performing the project.
Portfolio management - Correct Answer -Portfolio management is the centralized management of one
or more portfolios that help in identifying, authorizing, prioritizing, managing, and controlling
projects, programs, and other related work for attaining particular business objectives in the strategic
plan of the organization
Process - Correct Answer -A process is defined as a set of related tasks performed for managing a
certain aspect of a project, such as cost.
program - Correct Answer -in management terms, a program is a group of related projects. these
projects are grouped to obtain benefits and control that is not available from managing them
individually. Programs are a means of achieving organizational goals and objectives
1
,Program management - Correct Answer -program management is the centralized, coordinated
management or a program to achieve the program's strategic objectives and benefits. Program
management involves the management
Project Management knowledge areas - Correct Answer -ten project management groups that bring
together common or related processes:
-Project Integration Management
-Project Scope Management
-Project Schedule Management
-Project Cost Management
-Project Quality Management
-Project Resource Management
-Project Communications Management
-Project Risk Management
-Project Procurement Management
-Project Stakeholder Management
Project phase - Correct Answer -combination of associated activities that represent a distinct stage
within a project. A project phase can have distinct start and finish dates and include several stages of
planning and work. It is a set of logically related activities that usually complete one or more major
deliverables of the project
Closing process group - Correct Answer -final stage of a project. It includes the formal acceptance of
the project and the ending thereof
Executing process group - Correct Answer -the executing process group is a stage or phase of a
project. It starts after the planning phase of a project is over. It consists of the processes used to
complete the work defined in the project management plan to accomplish the project's requirements
Initiating - Correct Answer -Initiating is a process group or stage that occurs at the beginning of the
project. It determines the nature and scope of the development. If this stage is not performed well, it is
unlikely that the project will be successful in meeting the business needs
Monitoring and Controlling Process group - Correct Answer -Monitoring and controlling consists of
those processes that are performed to observe project execution, so that potential problems can be
2
, identified in a timely manner and corrective action can be taken, when necessary, to control the
execution of the project
Project management process groups - Correct Answer -the project management process groups
progress from initiating activities to planning activities, executing activities, monitoring and
controlling activities, and closing activities. The process groups are linked by the results they produce,
I.e, the result or outcome of one becomes an input to another
NPV (net present value) - Correct Answer -net present value evaluates the cash inflows using the
discounted cash flow technique, which is applied to each period the inflows are expected. The total
present value of the cash flows is deducted from the initial investment to determine NPV. It assumes
that cash inflows are reinvested at the cost of capital. This is similar to discounted cash flow
Project Processes - Correct Answer -A process is a sequence of interdependent and linked procedures
consuming one or more resources to convert inputs into outputs. These outputs then serve as inputs
for the next stage until a known goal or end result is reached
Project Life Cycle - Correct Answer -The project life cycle is a group of sequential and related
project phases that are defined by the organization and control needs of the management or
organizations concerned with the project, the nature of the project itself, and the application area.
Project - Correct Answer -In PM, a project consists of a temporary endeavor undertaken to create a
unique product, service, or result. Another definition is a management environment that is created for
the purpose of delivering one or more business products according to a specified business case.
Program Management Office - Correct Answer -A program management office is an organizational
entity that is structured for applying program management practices to the needs of a particular
program. It is responsible for providing centralized coordinated support to the program managers
managing programs and unrelated projects
Functional Organization - Correct Answer -In a functional organization, team members are loyal to
their department and report only to their functional manager. The project manager is part-time on the
project and reports to a functional manager; the team members are part-time as well. The project
manager has only limited control over team members because they report to the functional manager
Matrix Organization - Correct Answer -In a matrix organization, team members maintain a home in
their department and report to both the functional manager and the project manager. The project
manager is full-time on the project, while team members are part-time. Overall, a matrix organization
constitutes a complex and costly but reasonably effective project organization
3
WITH 100% CORRECT ANSWERS |GRADED
A+
IRR (internal rate of return) - Correct Answer -The discount rate when the present value of the cash
inflows equals the original investment. Projects with higher IRR values are generally considered
better than projects with lower IRR values. IRR assumes that cash inflows are reinvested at the IRR
value.
Operation - Correct Answer -Operation is a function that performs ongoing taks and constitutes an
organization's on-going, repetitive activities such as accounting or production. It is used to run regular
business models and is performed to achieve business goal and sustain the business
Organization - Correct Answer -Organization is a process of dividing work into sections and
departments. It involves allocation of authority, responsibility, and duties among all the members of
an enterprise. It is a group of individuals organized to work for some purpose or mission.
Payback period - Correct Answer -The length of time it takes a company to recover the initial cost of
producing a product or service of a project
Performing organization - Correct Answer -performing organization is referred to as the specific
enterprise or group that is viewed by all parties to be the one that is most directly and explicitly
involved in all phases and aspects of doing any and all work of the given and respective project. It is
the organization that is performing the project.
Portfolio management - Correct Answer -Portfolio management is the centralized management of one
or more portfolios that help in identifying, authorizing, prioritizing, managing, and controlling
projects, programs, and other related work for attaining particular business objectives in the strategic
plan of the organization
Process - Correct Answer -A process is defined as a set of related tasks performed for managing a
certain aspect of a project, such as cost.
program - Correct Answer -in management terms, a program is a group of related projects. these
projects are grouped to obtain benefits and control that is not available from managing them
individually. Programs are a means of achieving organizational goals and objectives
1
,Program management - Correct Answer -program management is the centralized, coordinated
management or a program to achieve the program's strategic objectives and benefits. Program
management involves the management
Project Management knowledge areas - Correct Answer -ten project management groups that bring
together common or related processes:
-Project Integration Management
-Project Scope Management
-Project Schedule Management
-Project Cost Management
-Project Quality Management
-Project Resource Management
-Project Communications Management
-Project Risk Management
-Project Procurement Management
-Project Stakeholder Management
Project phase - Correct Answer -combination of associated activities that represent a distinct stage
within a project. A project phase can have distinct start and finish dates and include several stages of
planning and work. It is a set of logically related activities that usually complete one or more major
deliverables of the project
Closing process group - Correct Answer -final stage of a project. It includes the formal acceptance of
the project and the ending thereof
Executing process group - Correct Answer -the executing process group is a stage or phase of a
project. It starts after the planning phase of a project is over. It consists of the processes used to
complete the work defined in the project management plan to accomplish the project's requirements
Initiating - Correct Answer -Initiating is a process group or stage that occurs at the beginning of the
project. It determines the nature and scope of the development. If this stage is not performed well, it is
unlikely that the project will be successful in meeting the business needs
Monitoring and Controlling Process group - Correct Answer -Monitoring and controlling consists of
those processes that are performed to observe project execution, so that potential problems can be
2
, identified in a timely manner and corrective action can be taken, when necessary, to control the
execution of the project
Project management process groups - Correct Answer -the project management process groups
progress from initiating activities to planning activities, executing activities, monitoring and
controlling activities, and closing activities. The process groups are linked by the results they produce,
I.e, the result or outcome of one becomes an input to another
NPV (net present value) - Correct Answer -net present value evaluates the cash inflows using the
discounted cash flow technique, which is applied to each period the inflows are expected. The total
present value of the cash flows is deducted from the initial investment to determine NPV. It assumes
that cash inflows are reinvested at the cost of capital. This is similar to discounted cash flow
Project Processes - Correct Answer -A process is a sequence of interdependent and linked procedures
consuming one or more resources to convert inputs into outputs. These outputs then serve as inputs
for the next stage until a known goal or end result is reached
Project Life Cycle - Correct Answer -The project life cycle is a group of sequential and related
project phases that are defined by the organization and control needs of the management or
organizations concerned with the project, the nature of the project itself, and the application area.
Project - Correct Answer -In PM, a project consists of a temporary endeavor undertaken to create a
unique product, service, or result. Another definition is a management environment that is created for
the purpose of delivering one or more business products according to a specified business case.
Program Management Office - Correct Answer -A program management office is an organizational
entity that is structured for applying program management practices to the needs of a particular
program. It is responsible for providing centralized coordinated support to the program managers
managing programs and unrelated projects
Functional Organization - Correct Answer -In a functional organization, team members are loyal to
their department and report only to their functional manager. The project manager is part-time on the
project and reports to a functional manager; the team members are part-time as well. The project
manager has only limited control over team members because they report to the functional manager
Matrix Organization - Correct Answer -In a matrix organization, team members maintain a home in
their department and report to both the functional manager and the project manager. The project
manager is full-time on the project, while team members are part-time. Overall, a matrix organization
constitutes a complex and costly but reasonably effective project organization
3
