Project Management Exam Questions and Answers

Project Management Exam Questions and Answers Project - ANSWER A temporary endeavor undertaken to create a unique product service or result Management - ANSWER Act ot coordinating the efforts of people to accomplish desired goals and objectives using available resources (eg. Money, workers, equipment, manpower) Includes: -Identifying requirements -Establishing clear and achievable objectives -Balancing the competing demands for quality, scope time and cost -Adapting specifications, plans and concerns for the stakeholders PM Characteristics - ANSWER 1. Managem ent is goal oriented process 2. Multidimensional (work, people and operations) 3. A continuous process 4. Group activity 5. Dynamic function 6. Intangible force Knowledge Areas - ANSWER Scope Management Time management Cost management Stakeholder management Human resource management Communication management Procurement management Risk management Quality management Integration management Project management - ANSWER Checking planning, organizing, motivating and control ling resources to achieve specific goals Application of: knowledge, skills, tools and techniques to protect activities to meet or exceed stakeholders' expectations while using resources efficiently and effectively Project Life Cycle - ANSWER Defines the phases that connects the beginning of a project to its end A project is unique Details: Raw material extraction and processing, project manufacturing, distribution, use, end of life Recycle, Remanufact ure, reuse/super -use Direct Cost - ANSWER Energy, materials, labor, time, other resources Indirect cost and overheads - ANSWER Waste, environmental damage, land use, social issues, other effects. Project Phases Summary - ANSWER Initiation - ANSWER Requirements: -Scope -Duration/Start -Location -Budget People Involved: -Client -Owner -Consultant -PM Design Phase - ANSWER Requirements: -Details -Conceptual arch drawing -Equipment -Materials -Technical issues (mechanical, structure) -Drawings, materials, specs People Involved: -Consultant -Owner Planning Phase - ANSWER Requirements: -Scheduling -Plan People Involved -Eng -Arch -Civil Engineer - Mechanical and Electri cal -PM Bidding Phase - ANSWER Requirements: -Formal contract documents -Contractor appointing -Municipality approval People involved: -Owner -Consultant -PM Execution Phase - ANSWER Requirements: -Monitoring and control for activities and processes -Procurement -Progress completion/payment People involved: -Owner -Supervision -Consultant -Contractor -PM Closing Phase - ANSWER Requirements: -Warranty Period -Maintenance -Lessons lea rned -Asbuilt drawings -Checklist People involved: -Owner -Supervision -Consultant