Project Management Review Questions
What two elements should always be included in a business case analysis? - correct answer
-Justification
-Alignment to strategic plan
What steps are required to validate a project? - correct answer 1. Validate the
business case
2. Identify and analyze stakeholders
What is included in a business case? - correct answer - feasibility analysis
- justification for project
- alignment to strategic plan
You're a project manager working on a software development project. You are working hand in hand
with a systems analyst who is considered an expert in her field. She has years of experience working for
the organization and understands not only systems development but also the business area the system
will support.
Which person should make the decisions about the management of the project? - correct answer
Project manager w/input from systems analyst
What general management skill is employed by a project manager 90% of the time? - correct answer
communicating
Your project has expected cash inflows of $7.8 million in today's dollars. Which cash flow technique was
used to determine this? - correct answer discounted cash flow
What organization is recognized worldwide for setting project management standards? - correct answer
PMI (Project Management Institute)
,Your project has expected cash inflows of $1.2 million in year 1, $2.4 million in year 2, and $4.6 million in
year 3. The project pays for itself in 23 months. Which cash flow technique was used to determine this? -
correct answer payback period
Your project has expected cash inflows of $7.8 million in today's dollars. The project's initial investment
is $9.2 million. What does this mean? - correct answer NPV is less than zero, so this
project should be rejected.
A project manager has the most authority under what organizational structure? - correct answer
Projectized
What are the two definitions of a project? - correct answer - A time-constrained
endeavor with assigned resources responsible for meeting the goals according to the quality standards
- A temporary endeavor undertaken to create a unique product, service, or result
What is one disadvantage of a projectized organization? - correct answer once the
project is complete, the project team members may be benched
You are working in a matrix organization. Choose three responses that describe this type of structure. -
correct answer - Matrix organizations can be structured as strong, weak, or
balanced.
- Employees are assigned project tasks by their project manager in this type of structure.
- Project managers and functional managers share authority levels.
The executives in your organization typically choose which projects to perform first by reviewing the
business case and then determining, based on their experience with similar projects, which will likely
perform well and which will not.
What form of project selection method is this? - correct answer expert judgement
, You receive a request from customer service to develop and implement a desktop management system
for the customer-support staff. What type of project request is this? - correct answer
Business need
You've been given an idea for a project by an executive in your organization. After writing the business-
case analysis, you submit it to the executive for review. After reading the business case, he determines
that the project poses a significant amount of risk to the organization.
What do you recommend next? - correct answer perform a feasibility study
What two things are true regarding project portfolios? - correct answer - the
independent projects within may not have anything in common
- the programs and projects within support the strategic goals of the portfolio
What is the term for a group of related projects managed in a coordinated fashion? - correct answer
program
Federico, the director of the marketing department, has approached you with an idea for a project.
What are the elements you'll include in the business case? Choose four. - correct answer
- the business justification for the project
- the strategic opportunity/business need
- the recommended solution
- alternative solutions analysis
This general management skill concerns obtaining mutually acceptable agreements with individuals or
groups - correct answer negotiating
What are the following?
- market demand
- strategic opportunity
- business need
What two elements should always be included in a business case analysis? - correct answer
-Justification
-Alignment to strategic plan
What steps are required to validate a project? - correct answer 1. Validate the
business case
2. Identify and analyze stakeholders
What is included in a business case? - correct answer - feasibility analysis
- justification for project
- alignment to strategic plan
You're a project manager working on a software development project. You are working hand in hand
with a systems analyst who is considered an expert in her field. She has years of experience working for
the organization and understands not only systems development but also the business area the system
will support.
Which person should make the decisions about the management of the project? - correct answer
Project manager w/input from systems analyst
What general management skill is employed by a project manager 90% of the time? - correct answer
communicating
Your project has expected cash inflows of $7.8 million in today's dollars. Which cash flow technique was
used to determine this? - correct answer discounted cash flow
What organization is recognized worldwide for setting project management standards? - correct answer
PMI (Project Management Institute)
,Your project has expected cash inflows of $1.2 million in year 1, $2.4 million in year 2, and $4.6 million in
year 3. The project pays for itself in 23 months. Which cash flow technique was used to determine this? -
correct answer payback period
Your project has expected cash inflows of $7.8 million in today's dollars. The project's initial investment
is $9.2 million. What does this mean? - correct answer NPV is less than zero, so this
project should be rejected.
A project manager has the most authority under what organizational structure? - correct answer
Projectized
What are the two definitions of a project? - correct answer - A time-constrained
endeavor with assigned resources responsible for meeting the goals according to the quality standards
- A temporary endeavor undertaken to create a unique product, service, or result
What is one disadvantage of a projectized organization? - correct answer once the
project is complete, the project team members may be benched
You are working in a matrix organization. Choose three responses that describe this type of structure. -
correct answer - Matrix organizations can be structured as strong, weak, or
balanced.
- Employees are assigned project tasks by their project manager in this type of structure.
- Project managers and functional managers share authority levels.
The executives in your organization typically choose which projects to perform first by reviewing the
business case and then determining, based on their experience with similar projects, which will likely
perform well and which will not.
What form of project selection method is this? - correct answer expert judgement
, You receive a request from customer service to develop and implement a desktop management system
for the customer-support staff. What type of project request is this? - correct answer
Business need
You've been given an idea for a project by an executive in your organization. After writing the business-
case analysis, you submit it to the executive for review. After reading the business case, he determines
that the project poses a significant amount of risk to the organization.
What do you recommend next? - correct answer perform a feasibility study
What two things are true regarding project portfolios? - correct answer - the
independent projects within may not have anything in common
- the programs and projects within support the strategic goals of the portfolio
What is the term for a group of related projects managed in a coordinated fashion? - correct answer
program
Federico, the director of the marketing department, has approached you with an idea for a project.
What are the elements you'll include in the business case? Choose four. - correct answer
- the business justification for the project
- the strategic opportunity/business need
- the recommended solution
- alternative solutions analysis
This general management skill concerns obtaining mutually acceptable agreements with individuals or
groups - correct answer negotiating
What are the following?
- market demand
- strategic opportunity
- business need
