Project Management Final Exam with all Correct &
100% Verified Answers |Guaranteed to Pass |Already
Graded A+
(t/f) Chaos study: the number of successful projects has more than doubled form 16% in 1994 to
37% in 2010 ✔Correct Answer-True
(t/f) NPV that is greater that zero is best ✔Correct Answer-True
(t/f) Resources are risk are examples of typical project contraints ✔Correct Answer-True
(t/f) The project manager should pick and choose which knowledge areas he/she wishes to utilize,
while managing a project ✔Correct Answer-False
(t/f) The planning process group requires the most resources and time ✔Correct Answer-False
(t/f) Project management process groups do not occur sequentially ✔Correct Answer-True
(t/f) A project should be developed using progressive elaboration, staring from specific details to and
broadening in scope as it progresses ✔Correct Answer-False
(t/f) Monitoring and controlling processes overlap all of the other PM process groups ✔Correct
Answer-True
(t/f) A projects manager is assigned by the project sponsor ✔Correct Answer-True
(t/f) All organizations have a PMO ✔Correct Answer-False
(t/f) Portfolio management addresses questions like are we working on the right projects?
✔Correct Answer-True
(t/f) According to the textbook, the top ten skills and competencies for effective PMs, include: people
skills, listening, and having their PMP ✔Correct Answer-False
Project cost $100 upfront, Annual benefits are $20/year, what is the payback period? ✔Correct
Answer-5 years
Which process group relates to all knowledge areas? ✔Correct Answer-Planning
Who determines priorities among projects in a company? ✔Correct Answer-PMO
Which is false?
a) higher NPV, the better
b) higher payback period, the better
c) higher ROI, the better
d) higher weighted score, the better ✔Correct Answer-b) higher payback period, the better
, A ______________ chart is often used to show projects in terms of risk, value, and size. ✔Correct
Answer-Bubble
A market demand, a business need, and/or legal requirement are examples of: ✔Correct Answer-
Reasons projects are initiated
What document formally recognizes the existence of a project and provides direction on the project's
objectives and management? ✔Correct Answer-Project Charter
What is a crucial part of the project charter, in particular a section in which key project stakeholders
acknowledge their agreement on the need for the project? ✔Correct Answer-Sign-off
You are assigned as the project manager in the middle of the project. The project is within the
baselines, but the customer is not happy with the performance of the project. What is the first thing
you should do? ✔Correct Answer-Meet with the customer
There are usually more potential projects than an organization can undertake at any one time, so it is
important to work on the most ___________ ones first. ✔Correct Answer-Important
The PMBOK Guid is a _____________ that describes best practices for what should be done to
manage a project; a ____________ describes how things should be done. ✔Correct Answer-
Standard, Methadology
Many software development projects follow ____________ methodologies, meaning they use an
iterative workflow and incremental delivery of software in short iterations. ✔Correct Answer-Agile
A college approved project to provide discounts for faculty, students, and staff to use the city's new
light-rail system. Under what existing program might this project naturally fit? ✔Correct Answer-
Transportation Program
____________ is a professional certification that PMs can obtain through the Project Management
Institute and requires actual professional PM experience ✔Correct Answer-PMP
____________ is a technique that uses branches radiating out from a core idea to structure thoughts
and ideas. ✔Correct Answer-Mind Mapping
_____________ analysis is used to aid in strategic plannning ✔Correct Answer-SWOT
Three knowledge areas that compromise of the triple constraint in PM are: ✔Correct Answer-
Time, Cost, and Scope
_______________ is a guide that the PMI creates as a framework for understanding PM. ✔Correct
Answer-PMBOK
_____________- is the result of subtracting the project costs from the benefits and then dividing by
the costs. ✔Correct Answer-ROI
A _________________ meeting happens at the beginning of a project, so that the stakeholders can
meet each other, review the goals of the project, and discuss future plans. ✔Correct Answer-Kick-
off Meeting
100% Verified Answers |Guaranteed to Pass |Already
Graded A+
(t/f) Chaos study: the number of successful projects has more than doubled form 16% in 1994 to
37% in 2010 ✔Correct Answer-True
(t/f) NPV that is greater that zero is best ✔Correct Answer-True
(t/f) Resources are risk are examples of typical project contraints ✔Correct Answer-True
(t/f) The project manager should pick and choose which knowledge areas he/she wishes to utilize,
while managing a project ✔Correct Answer-False
(t/f) The planning process group requires the most resources and time ✔Correct Answer-False
(t/f) Project management process groups do not occur sequentially ✔Correct Answer-True
(t/f) A project should be developed using progressive elaboration, staring from specific details to and
broadening in scope as it progresses ✔Correct Answer-False
(t/f) Monitoring and controlling processes overlap all of the other PM process groups ✔Correct
Answer-True
(t/f) A projects manager is assigned by the project sponsor ✔Correct Answer-True
(t/f) All organizations have a PMO ✔Correct Answer-False
(t/f) Portfolio management addresses questions like are we working on the right projects?
✔Correct Answer-True
(t/f) According to the textbook, the top ten skills and competencies for effective PMs, include: people
skills, listening, and having their PMP ✔Correct Answer-False
Project cost $100 upfront, Annual benefits are $20/year, what is the payback period? ✔Correct
Answer-5 years
Which process group relates to all knowledge areas? ✔Correct Answer-Planning
Who determines priorities among projects in a company? ✔Correct Answer-PMO
Which is false?
a) higher NPV, the better
b) higher payback period, the better
c) higher ROI, the better
d) higher weighted score, the better ✔Correct Answer-b) higher payback period, the better
, A ______________ chart is often used to show projects in terms of risk, value, and size. ✔Correct
Answer-Bubble
A market demand, a business need, and/or legal requirement are examples of: ✔Correct Answer-
Reasons projects are initiated
What document formally recognizes the existence of a project and provides direction on the project's
objectives and management? ✔Correct Answer-Project Charter
What is a crucial part of the project charter, in particular a section in which key project stakeholders
acknowledge their agreement on the need for the project? ✔Correct Answer-Sign-off
You are assigned as the project manager in the middle of the project. The project is within the
baselines, but the customer is not happy with the performance of the project. What is the first thing
you should do? ✔Correct Answer-Meet with the customer
There are usually more potential projects than an organization can undertake at any one time, so it is
important to work on the most ___________ ones first. ✔Correct Answer-Important
The PMBOK Guid is a _____________ that describes best practices for what should be done to
manage a project; a ____________ describes how things should be done. ✔Correct Answer-
Standard, Methadology
Many software development projects follow ____________ methodologies, meaning they use an
iterative workflow and incremental delivery of software in short iterations. ✔Correct Answer-Agile
A college approved project to provide discounts for faculty, students, and staff to use the city's new
light-rail system. Under what existing program might this project naturally fit? ✔Correct Answer-
Transportation Program
____________ is a professional certification that PMs can obtain through the Project Management
Institute and requires actual professional PM experience ✔Correct Answer-PMP
____________ is a technique that uses branches radiating out from a core idea to structure thoughts
and ideas. ✔Correct Answer-Mind Mapping
_____________ analysis is used to aid in strategic plannning ✔Correct Answer-SWOT
Three knowledge areas that compromise of the triple constraint in PM are: ✔Correct Answer-
Time, Cost, and Scope
_______________ is a guide that the PMI creates as a framework for understanding PM. ✔Correct
Answer-PMBOK
_____________- is the result of subtracting the project costs from the benefits and then dividing by
the costs. ✔Correct Answer-ROI
A _________________ meeting happens at the beginning of a project, so that the stakeholders can
meet each other, review the goals of the project, and discuss future plans. ✔Correct Answer-Kick-
off Meeting
