MGSC 395 Final Exam | UPDATED Questions with 100% Verified
Answers
Question:
What is a project?
Answer:
An interrelated set of activities with a definite starting and ending point, which results in a
unique outcome for a specific allocation of resources.
Question:
What is project management?
Answer:
A systemized, phased approach to defining, organizing, planning, monitoring, and
controlling projects.
Question:
A well-defined project scope typically includes:
Answer:
1. Project objectives: The goals the project aims to achieve.
2. Deliverables: The tangible or intangible outcomes of the project.
3. Tasks & activities: The work that needs to be completed.
4. Exclusions: Items or work that are explicitly out of scope.
Question:
Defining the project scope properly helps prevent?
Answer:
scope creep, which occurs when uncontrolled changes expand the project beyond its
original plan.
Question:
What are project risks?
Answer:
, potential events or conditions that could negatively impact a project's objectives,
timeline, budget, or quality.
Question:
What are the steps of monitoring and controlling projects?
Answer:
1. Definitions and organization
2. Planning
3. Execution
4. Close out
5. Monitoring Project Status
- Open Issues
- Schedule Status •
6. Monitoring Project Resources
Question:
How do you construct a project network?
Answer:
1. Defining the Work Breakdown Structure
2. Diagramming the Network
3. Developing the Project Schedule
4. Analyzing Cost-Time Trade-offs
Question:
1. Defining the Work Breakdown Structure
Answer:
- A statement of all work that has to be completed.
Question:
2. Diagramming the Network
Answer:
A network planning method designed to depict the relationships between activities, that
consist of nodes (circles) and arcs (arrows)
1. Program Evaluation and Review Technique (PERT)
Answers
Question:
What is a project?
Answer:
An interrelated set of activities with a definite starting and ending point, which results in a
unique outcome for a specific allocation of resources.
Question:
What is project management?
Answer:
A systemized, phased approach to defining, organizing, planning, monitoring, and
controlling projects.
Question:
A well-defined project scope typically includes:
Answer:
1. Project objectives: The goals the project aims to achieve.
2. Deliverables: The tangible or intangible outcomes of the project.
3. Tasks & activities: The work that needs to be completed.
4. Exclusions: Items or work that are explicitly out of scope.
Question:
Defining the project scope properly helps prevent?
Answer:
scope creep, which occurs when uncontrolled changes expand the project beyond its
original plan.
Question:
What are project risks?
Answer:
, potential events or conditions that could negatively impact a project's objectives,
timeline, budget, or quality.
Question:
What are the steps of monitoring and controlling projects?
Answer:
1. Definitions and organization
2. Planning
3. Execution
4. Close out
5. Monitoring Project Status
- Open Issues
- Schedule Status •
6. Monitoring Project Resources
Question:
How do you construct a project network?
Answer:
1. Defining the Work Breakdown Structure
2. Diagramming the Network
3. Developing the Project Schedule
4. Analyzing Cost-Time Trade-offs
Question:
1. Defining the Work Breakdown Structure
Answer:
- A statement of all work that has to be completed.
Question:
2. Diagramming the Network
Answer:
A network planning method designed to depict the relationships between activities, that
consist of nodes (circles) and arcs (arrows)
1. Program Evaluation and Review Technique (PERT)
