ITM750 - final exam review LATEST SOLUTION FALL-2021 100% CORRECT AID GRADE A+

1. Which of the following is a difference between projects and operations? a. Projects are undertaken to sustain an organization’s business whereas operations are not. b. Operations are undertaken to create unique products, services, or results whereas projects are not. c. Projects are temporary endeavors whereas an organization’s operations are ongoing in nature. d. Operations have well-defined objectives whereas projects do not need to have a unique purpose. A project is “a temporary endeavor undertaken to create a unique product, service, or result.” Operations, on the other hand, is work done in organizations to sustain the business. 2. Which of the following is true of projects? a. They have an indefinite beginning and end. c. They are developed using regressive elaboration. b. They have a unique purpose. d. They are permanent in nature. One of the attributes of projects is that they has have a unique purpose. Every project should have a well-defined objective. 3. The role of a is to provide direction and funding for a project. a. project sponsor c. support staff member b. project manager d. project team Most projects have many interested parties or stakeholders, but someone must take the primary role of sponsorship. The project sponsor usually provides the direction and funding for the project. 4. Galaxy, a construction company, buys a particular brand of tiles manufactured by Tiles and Floors, an eco-friendly tile manufacturing company. However, Tiles and Floors has declared bankruptcy and closed down. At present, Galaxy is facing a crisis because there are no other manufacturers in the market that supplies eco-friendly tiles. Which of the following constraints is Galaxy currently facing? a. Resources c. Scope b. Time d. Cost Every project is constrained in different ways. For some projects, resources are the main concern. 5. Steve, an engineer in a construction company, is at present working on a home construction project. The home is being built for the Robinson family, the owners of the home. Steve is working with his project team and support staff to ensure the project is completed on time. In such a scenario, the project sponsor is . a. Steve c. the project team b. the support staff d. the Robinson family Stakeholders are the people involved in or affected by project activities, and include the project sponsor, project team, support staff, customers, among others. In a home construction project, the project sponsors would be the potential new homeowners. 6. Project management involves defining and managing all the work required to complete the project successfully. a. human resource c. Time b. Scope d. Cost Project management knowledge areas describe the key competencies that project managers must develop. Project scope management involves defining and managing all the work required to complete the project successfully. 7. Project management ensures that the project will satisfy the stated or implied needs for which it was undertaken. a. Cost c. risk b. Time d. quality Project management knowledge areas describe the key competencies that project managers must develop. Project quality management ensures that the project will satisfy the stated or implied needs for which it was undertaken. 8. Which of the following project management knowledge areas primarily involve generating, collecting, disseminating, and storing project information? a. Project cost management c. Project time management b. Project procurement management d. Project communications management Project management knowledge areas describe the key competencies that project managers must develop. Project communications management involves generating, collecting, disseminating, and storing project information. 9. Project procurement management mainly involves: a. making effective use of the people involved with the project. b. buying goods and services for a project from outside the performing organization. c. generating, collecting, disseminating, and storing project information. d. identifying and analyzing stakeholder needs while managing and controlling their engagement. Project management knowledge areas describe the key competencies that project managers must develop. Project procurement management involves acquiring or procuring goods and services for a project from outside the performing organization. 10. Which of the following project management knowledge areas is an overarching function that affects and is affected by the different knowledge areas? a. Project cost management c. Project integration management b. Project stakeholder management d. Project communications management Project management knowledge areas describe the key competencies that project managers must develop. Project integration management is an overarching function that affects and is affected by all of the other knowledge areas. 11. An important tool for project scope management is . a. fast tracking c. a Gantt chart b. crashing d. a work breakdown structure Scope management uses scope statements, work breakdown structures, statements of work, requirements analyses, scope management plans, scope verification techniques, and scope change controls. 12. Which of the following tools are most likely to be used in project time management? a. Payback analysis c. Gantt charts b. Impact matrices d. Fishbone diagrams Time management uses Gantt charts, project network diagrams, critical path analysis, crashing, fast tracking, and schedule performance measurements. 13. Fast tracking is an example of a tool used in management. a. time c. communication b. quality d. risk Time management tools include Gantt charts, project network diagrams, critical path analysis, crashing, fast tracking, and schedule performance measurements. 14. In which of the following areas of management is payback analysis most likely to be used? a. Human resource c. Cost b. Communication d. Quality Tools used in cost management include payback analysis, earned value management, project portfolio management, and cost estimates among others. 15. A is a tool used in quality management. a. probability matrice c. request for proposal b. checklist d. critical path analysis Quality management uses include quality metrics, checklists, quality control charts, Pareto diagrams, and fishbone diagrams among others. 16. Team building exercises and motivation techniques are tools used in management. a. procurement c. human resource b. scope d. cost Motivation techniques, empathic listening, resource histograms, and team building exercises are tools used in human resource management. 17. Which of the following tools can best help in efficient communication management? a. Kick-of f meetings c. Requests for quotes b. Impact matrices d. Fast tracking Kick-off meetings are an important tool in project communication management. Other tools in project communication management are communications management plans, conflict management, communications media selection, and progress reports. 18. A is a tool used in risk management. a. work breakdown structure c. critical path analysis b. project organizational chart d. probability matrice Risk management plans, risk registers, probability/impact matrices, and risk rankings are different tools used in risk management. 19. Which of the following statements is true of project management? a. It is a simple discipline with a limited scope. c. It does not guarantee successes for all projects. b. It has specific tools which work universally across all kinds of projects. d. Its framework consists solely of project management knowledge areas. Despite its advantages, project management is a very broad, often complex discipline. What works for one project may not work for another. Thus it is essential for project managers to continue to develop their knowledge and skills in managing projects. 20. Which of the following is true of program managers? a. They report to project managers who represent the next level in the hierarchy. b. They recognize that managing a program is simpler than managing a project. ANS: C c. They provide leadership and direction for project managers heading the projects within a program. d. They are responsible solely for the delivery of project results. A program manager provides leadership and direction for the project managers heading the projects within a program. Program managers also coordinate the efforts of project teams, functional groups, suppliers, and operations staff supporting the projects to ensure that products and processes are implemented to maximize benefits. 21. Which of the following is a difference between project management and portfolio management? Project management involves making wise a. investment decisions whereas portfolio management does not. c. Portfolio management asks questions like, “Are we carrying out projects efficiently?” whereas project management asks questions such as “Are we investing in the right areas?” b. Portfolio management is an easy task whereas project management is a more difficult task. d. Project management addresses specific, short- term goals whereas portfolio management focuses on long-term goals. Individual projects often address tactical goals, whereas portfolio management addresses strategic goals. Tactical goals are generally more specific and short-term than strategic goals. 22. A difference between strategic and tactical goals is that: a. strategic goals are more specific than tactical goals. b. tactical goals encompass broader dimensions than strategic goals. c. tactical goals are more important for a project than strategic goals. d. strategic goals are long-term in nature whereas tactical goals are short-term. Tactical goals are generally more specific and short-term than strategic goals, which emphasize long-term goals for an organization. 23. Which of the following questions reflect the strategic goals of project portfolio management? a. Are we carrying out projects well? c. Are we investing in the right areas? b. Are projects on time and on budget? d. Do stakeholders know what they should be doing? The strategic goals of project portfolio management raise questions such as “Are we working on the right projects?”, “Are we investing in the right areas?”, and “Do we have the right resources to be competitive?” 24. Martha works as a project manager at a bank. Due to certain changes in external factors, Martha needs to make a few alterations in the tactical goals of her project. In such a scenario, which of the following will best help Martha cope with the change? a. Negotiation b. Project environment knowledge c. Motivation d. Soft skills The project environment differs from organization to organization and project to project, but some skills will help in almost all project environments. These skills include understanding change and understanding how organizations work within their social, political, and physical environments. Project managers must be comfortable leading and handling change, because most projects introduce changes in organizations and involve changes within the projects themselves. 25. Joe is a project manager in an IT company and has over the years, gained substantial knowledge in his area of work. However, while managing his team, he often loses his temper. In addition, he fails to be an active listener when his team members approach him with work related challenges. In which of the following areas does Joe need to develop his skills in? a. Application area knowledge b. Project environment knowledge c. Standards and regulations d. Human relations skills Achieving high performance on projects requires soft skills, otherwise called human relations skills. Project managers need good soft skills to understand, navigate, and meet stakeholders’ needs and expectations. They need to be able to listen actively to what others are saying, help develop new approaches for solving problems, and then persuade others to work toward achieving project goals. 26. Which of the following best defines the role of leaders? a. They focus on short-term objectives. c. They work solely toward day-to-day details of meeting specific tasks. b. They work on achieving primarily tactical goals. d. They inspire people to reach goals. Generally, a leader focuses on long-term goals and big-picture objectives while inspiring people to reach those goals. 27. A Gantt chart is a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a format. a. calendar c. bar graph b. line graph d. pie chart A Gantt chart was developed by Henry Gantt for scheduling work in factories. A Gantt chart is a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in calendar form. 28. A critical path: a. is the shortest path through a network diagram. b. represents schedule information in calendar form. c. determines the earliest completion date of a project. d. is a quality management tool to ensure a project meets the minimum quality standards. The critical path is the longest path through a network diagram that determines the earliest completion of a project. It shows which tasks affect the target completion date of a project, and it can change as work proceeds and more information becomes available. 29. A is an organizational group responsible for coordinating the project management function throughout an organization. a. Project Management Office c. Project Management Center b. Project Management Professional d. Portfolio Group In the 1990s, many companies began creating Project Management Offices to help them handle the increasing number and complexity of projects. A Project Management Office (PMO) is an organizational group responsible for coordinating the project management function throughout an organization. 30. Which of the following provides certification as a Project Management Professional? a. PMS c. PMI b. PMC d. PMP PMI or the Project Management Institute provides certification as a Project Management Professional (PMP). A Project Management Professional (PMP) is someone who has documented sufficient project experience and education, agreed to follow the PMI code of professional conduct, and demonstrated knowledge of project management by passing a comprehensive examination. 31. Which of the following refers to a set of principles that guides decision making based on personal values of what is considered right and wrong? a. Ethics c. Laws b. Civics d. Politics Ethics is a set of principles that guides decision making based on personal values of what is considered right and wrong. Making ethical decisions is an important part of project managers’ personal and professional lives because it generates trust and respect with other people. 32. Which of the following is true of low-end tools of the project management software? a. They are designed for especially large projects with multiple users. b. Their main advantage is that they have unlimited functionality. c. They provide basic project management features. d. They are referred to as an enterprise project management software. In a project management software, low-end tools provide basic project management features and are often recommended for small projects and single users. 33. Which of the following types of tools is usually recommended for small projects and single users? a. Low-end c. High-end b. Midrange d. Upper range Low-end tools provide basic project management features and generally cost less than $200 per user They are often recommended for small projects and single users. 34. Enterprise project management softwares are also known as tools of project management software. a. baseline c. low-end b. midrange d. high-end Project management software tools can be divided into three general categories based on functionality and price. One of these tools are high-end tools which are sometimes referred to as enterprise project management software. 35. Which of the following is a difference between low-end and midrange tools of the project management software? a. Low-end tools are designed to handle primarily c. Midrange tools provide basic project multiple users whereas midrange tools are created to handle single users. b. Low-end tools provide robust capabilities to handle dispersed workgroups whereas midrange tools do not. management features whereas low-end tools offer enterprise and portfolio management functions. d. Midrange tools are designed to handle larger projects than low-end tools. In a project management software, midrange tools is a step up from low-end tools. They are designed to handle larger projects, multiple users, and multiple projects. Chapter 2: The Project Management and Information Technology Context MULTIPLE CHOICE 1. Projects must operate in a broad organizational environment, and project managers need to consider projects within the greater organizational context. describes this holistic view of carrying out projects within the context of the organization. a. Linear analysis c. Reductionism b. Systems thinking d. The silo approach To handle complex situations effectively, project managers need to take a holistic view of a project and understand how it relates to the larger organization. Systems thinking describes this holistic view of carrying out projects within the context of the organization. 2. refers to a problem-solving approach that requires defining the scope of a system, dividing it into its components, and then identifying and evaluating its problems, opportunities, constraints, and needs. a. Linear programming c. Principal component analysis b. Independent component analysis d. Systems analysis Systems analysis is a problem-solving approach that requires defining the scope of the system, dividing it into components, and then identifying and evaluating its problems, opportunities, constraints, and needs. 3. The symbolic perspective of an organization: a. focuses on different groups’ roles and responsibilities to meet the goals and policies set by top management. b. views the organization as coalitions composed of varied individuals and interest groups. c. focuses on providing harmony between the needs of the organization and the needs of people. d. focuses on the meanings of the culture, language, traditions, and image of the organization. The symbolic frame focuses on symbols and meanings. In this frame, the most important aspect of any event in an organization is not what actually happened, but what it means. 4. The perspective of an organization focuses on different groups’ roles and responsibilities in order to meet the goals and policies set by top management. a. structural frame c. political frame b. human resources frame d. symbolic frame The structural frame deals with how the organization is structured (usually depicted in an organizational chart) and focuses on different groups’ roles and responsibilities to meet the goals and policies set by top management. This frame is very rational and focuses on coordination and control. 5. The frame of an organization focuses on providing harmony between the needs of the organization and the needs of people. a. structural c. political b. human resources d. symbolic The human resources (HR) frame focuses on producing harmony between the needs of the organization and the needs of people. It recognizes that mismatches can occur between the needs of the organization and those of individuals and groups, and works to resolve any potential problems. 6. The perspective on organizations assumes that organizations are coalitions composed of varied individuals and interest groups. a. political frame c. structural frame b. symbolic frame d. human resources frame The political frame addresses organizational and personal politics. Politics in organizations take the form of competition among groups or individuals for power and leadership. The political frame assumes that organizations are coalitions composed of varied individuals and interest groups. 7. Grey’s Infotech sells customized hardware and software solutions for businesses. The salespeople for Grey’s