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EBTM 343 Midterm 2026 | 250+ Exam Questions and 100% Correct Answers | Project Management, WBS, Agile, CPM, Estimation & Network Analysis

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Prepare confidently for the EBTM 343 Midterm Examination with this comprehensive collection of 250+ exam-style questions and 100% correct answers covering the fundamental principles of project management and strategic project planning. This revision resource provides extensive coverage of project life cycle phases, project characteristics, project versus operations, project scope, project charter, Work Breakdown Structure (WBS), Organizational Breakdown Structure (OBS), Responsibility Assignment Matrix (RACI), project planning, scheduling, budgeting, project estimation, top-down and bottom-up estimating, direct and indirect costs, Agile project management, Waterfall methodology, rolling wave planning, project governance, project selection models, Net Present Value (NPV), Payback Period, project portfolio management, strategic management, project organizational structures, functional, matrix and projectized organizations, Project Management Office (PMO), project communication planning, project networks, Critical Path Method (CPM), Activity-on-Node (AON), Activity-on-Arrow (AOA), forward and backward pass calculations, critical path analysis, total and free slack, laddering, lag relationships, and project scheduling techniques. The material is organized in an easy-to-follow question-and-answer format, making it an effective study guide for reinforcing theoretical knowledge and preparing for university midterm examinations. This study guide is specifically designed for students enrolled in EBTM 343 Project Management and related business and engineering management courses. It provides a structured review of the concepts commonly assessed in quizzes, assignments, midterm examinations, and final examinations while strengthening students' understanding of project planning, organizational strategy, project execution, scheduling, and cost management. The question-and-answer format promotes active recall, improves long-term retention, and helps learners identify important project management principles required for academic success and professional practice. The content closely aligns with internationally recognized project management frameworks and complements the concepts presented in leading project management textbooks and professional standards. It serves as an excellent companion for classroom learning, independent revision, and examination preparation, enabling students to develop practical project planning and management skills applicable to real-world organizational environments. References (APA 7th Edition) Larson, E. W., & Gray, C. F. (2021). Project Management: The Managerial Process (8th ed.). McGraw-Hill Education. Project Management Institute. (2021). A Guide to the Project Management Body of Knowledge (PMBOK® Guide) (7th ed.). Project Management Institute. Kerzner, H. (2022). Project Management: A Systems Approach to Planning, Scheduling, and Controlling (13th ed.). Wiley. Meredith, J. R., Shafer, S. M., & Mantel, S. J. (2022). Project Management: A Strategic Managerial Approach (11th ed.). Wiley. Relevant Students: EBTM 343 Students, Project Management Students, Business Management Students, Engineering Management Students, Operations Management Students, Industrial Engineering Students, Construction Management Students, Supply Chain Management Students, Management Information Systems Students, MBA Students, Undergraduate Business Students, Project Planning Students. Keywords EBTM 343, EBTM 343 Midterm, Project Management, Midterm Exam, Practice Questions, Project Life Cycle, Project Scope, Project Charter, Project Planning, Project Scheduling, Work Breakdown Structure, WBS, Organizational Breakdown Structure, OBS, RACI Matrix, Responsibility Assignment Matrix, Project Estimation, Top Down Estimating, Bottom Up Estimating, Agile Project Management, Waterfall Methodology, Rolling Wave Planning, Project Governance, Project Portfolio Management, Strategic Management, Project Selection, Net Present Value, NPV, Payback Period, Project Budgeting, Cost Management, Project Management Office, PMO, Organizational Structure, Functional Organization, Matrix Organization, Projectized Organization, Critical Path Method, CPM, Activity on Node, AON, Activity on Arrow, AOA, Project Network, Forward Pass, Backward Pass, Critical Path Analysis, Total Slack, Free Slack, Laddering, Lag, Network Scheduling, Exam Questions, Study Guide, Revision Notes

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EBTM 343 Midterm 2026 Exam
Questions with 100% Correct
Answers | Latest Update



Project - ANSWER ✔✔A temporary endeavor undertaken to create a

unique product, service, or result.


What are the five major characteristics of a project? - ANSWER ✔✔1.

Has an established objective.

2. Has a defined life span with a beginning and an end (finite).

3. Involves several departments and professionals.

4. Involves doing something never been done before.

5. Has specific time, cost, and performance requirements.

,Difference between project and regular operations/business as usual. -

ANSWER ✔✔Project is finite (defined start and defined end), does

not go on forever, typically used to create unique product or service,

there is a deliverable.


Examples of routine, repetitive work. - ANSWER ✔✔Taking class

notes, daily entering sales receipts into the accounting ledger,

responding to a supply-chain request, maintenance of a building.


Examples of projects. - ANSWER ✔✔Writing a term paper, setting up

a sales kiosk for a professional accounting meeting, developing a

supply-chain information system, construction of a new building or road,

renovation of a building, advertisement, film making.


What are the project management dimensions? - ANSWER

✔✔Scope, schedule, cost.


Program - ANSWER ✔✔A group of related projects designed to

accomplish a common goal over an extended period of time.


Program Management - ANSWER ✔✔A process of managing a

group of ongoing, interdependent, related projects in a coordinated way

to achieve strategic objectives.

,Example of a project vs program. - ANSWER ✔✔Project: completion

of a required course in project management. Program: completion of all

courses required for a business major.


Project Life Cycle phases. - ANSWER ✔✔Defining, planning,

executing, closing (start to end).


Waterfall/Traditional Project Management: Life Cycles - ANSWER

✔✔All life cycle phases get done one by one.


Agile Project Management: Life Cycles - ANSWER ✔✔Doing all life

cycle phases basically at the same time and quickly.


Project Life Cycle: Defining - ANSWER ✔✔1. Goals


2. Specifications

3. Tasks

4. Responsibilities


Project Life Cycle: Planning - ANSWER ✔✔1. Schedules


2. Budgets

3. Resources

4. Risks

5. Staffing

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, Project Life Cycle: Executing - ANSWER ✔✔1. Status reports


2. Changes

3. Quality

4. Forecasts


Project Life Cycle: Closing - ANSWER ✔✔1. Train customer


2. Transfer documents

3. Release resources

4. Evaluation

5. Lessons learned


Project Manager - ANSWER ✔✔•Manages temporary, non-repetitive

activities and frequently acts independently of the formal organization.

•Marshals resources for the project.

•Is the direct link to the customer.

•Works with a diverse troupe of characters.

•Provides direction, coordination, and integration to the project team.

•Is responsible for performance and success of the project.

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