BUS 395 Midterm 1 Practice Test With Complete Solution

Until the 1980s, project management primarily focused on providing schedule and resource data to top management in the military, computer, and construction industries. - Answer True A project manager's primary role is to provide the funding for a project. - Answer False In order to be realistic, a project manager should always set discrete goals instead of a range of objectives. - Answer False Managing the triple constraint primarily involves making trade-offs between resources and quality. - Answer False The importance of stakeholders' needs and expectations is limited to the beginning of a project. - Answer False Project procurement management primarily involves identifying stakeholder needs while managing their engagement throughout the life of the project. - Answer False The primary role of project stakeholder management is to ensure that the project will satisfy the stated needs for which it was undertaken. - Answer False Stakeholder analyses, work requests, and project charters are tools used in integration management. - Answer True Earned value management is a tool primarily used in resource management. - Answer False Responsibility assignment matrices and project organizational charts are examples of tools used in procurement management. - Answer False Maturity models, statistical methods, and test plans are examples of tools used in quality management. - Answer True Tactical Goals - Answer Short term goals "are projects on time/budget?" Strategic Goals - Answer Emphasize long term goals "Are we working on the right projects?" Which knowledge area involves defining and managing all the work required to complete the project successfully? a. Project resource management b. Project scope management c. Project time management d. Project cost management - Answer b. Project scope management Which project management knowledge area ensures that the project will satisfy the stated or implied needs for which it was undertaken? a. Project cost management b. Project time management c. Project risk management d. Project quality management - Answer d. Project quality management Which project management knowledge area primarily involves generating, collecting, disseminating, and storing project information? a. Project cost management b. Project procurement management c. Project time management d. Project communications management - Answer d. Project communications management 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. - Answer b. buying goods and services for a project from outside the performing organization. Which project management knowledge area is an overarching function that affects and is affected by the different knowledge areas? a. Project cost management b. Project stakeholder management c. Project integration management d. Project communications management - Answer c. Project integration management An important tool for project scope management is _____. a. fast tracking b. a kickoff meeting c. a Gantt chart d. a work breakdown structure - Answer d. a work breakdown structure Which tool is most likely to be used in project schedule management? a. Payback analysis b. Impact matrices c. Gantt charts d. Fishbone diagrams - Answer c. Gantt charts Fast tracking is an example of a tool used in _____ management. a. schedule b. quality c. communication d. risk - Answer a. schedule In which of the following areas of management is payback analysis most likely to be used? a. Resource b. Communication c. Cost d. Quality - Answer c. Cost A _____ is a tool used in quality management. a. probability matrix b. checklist c. request for proposal d. critical path analysis - Answer b. checklist Team building exercises and motivation techniques are tools used in _____ management. a. procurement b. scope c. resource d. cost - Answer c. resource Which tool can best help in efficient communication management? a. Kick-off meetings b. Impact matrices c. Requests for quotes d. Fast-tracking - Answer a. Kick-off meetings A _____ is a tool used in risk management. a. work breakdown structure b. project organizational chart c. critical path analysis d. probability matrix - Answer d. probability matrix 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 - Answer b. Project environment knowledge 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 b. line graph c. bar graph d. pie chart - Answer a. calendar Which organization provides certification as a Project Management Professional? a. PMS b. PMC c. PMI d. PMP - Answer c. PMI Describe the triple constraint. What are the three components and what is the relationship between them? - Answer Every project is constrained in different ways, often by its scope, time, and cost goals. These limitations are sometimes referred to in project management as the triple constraint. To create a successful project, a project manager must consider scope, time, and cost and balance these three often-competing goals. Scope: This goal involves questions such as, "What work will be done as part of the project? What unique product, service, or result does the customer or sponsor expect from the project? How will the scope be verified?" Time: This goal encompasses questions such as, "How long should it take to complete the project? What is the project's schedule? How will the team track actual schedule performance? Who can approve changes to the schedule?" Cost: This goal deals with questions such as, "What should it cost to complete the project? What is the project's budget? How will costs be tracked? Who can authorize changes to the budget?" Managing the triple constraint involves making trade-offs between scope, time, and cost goals for a project. Experienced project managers know that they must decide which aspect of the triple constraint is most important. If time is most important, one must change the initial scope and/or cost goals to meet the schedule. If scope goals are most important, one may need to adjust time and/or cost goals. Discuss the PMP certification. What are the advantages of obtaining PMP certification? - Answer The Project Management Institute (PMI) provides certification as a Project Management Professional (PMP)—someone who has documented sufficient project experience and education, agreed to follow the PMI code of professional conduct, and demonstrated knowledge of the field of project management by passing a comprehensive examination. Organizations that support PMP certification see the value of investing in programs to improve their employees' knowledge in project management. Many employers today require specific certifications to ensure their workers have current skills, and job seekers find that they often have an advantage when they earn and maintain marketable certifications. Passing the PMP exam is becoming a standard for project managers. Project management certification is also enabling professionals in the field to share a common base of knowledge. Sharing a common base of knowledge is important because it helps advance the theory and practice of project management. PMI also offers additional certifications, including agile techniques, scheduling, risk, program management, portfolio management, and business analysis. Discuss the PMI Code of Ethics and Professional Conduct. - Answer PMI approved a Code of Ethics and Professional Conduct that took effect in January 2007. This code applies not only to PMPs, but to all PMI members and individuals who hold a PMI certification, apply for a PMI certification, or serve PMI in a volunteer capacity. It is vital for project management practitioners to conduct their work in an ethical manner. Even if one is not affiliated with PMI, these guidelines can help one conduct their work in an ethical manner, which helps the profession earn the confidence of the public, employers, employees, and all project stakeholders. The PMI Code of Ethics and Professional Conduct includes short chapters addressing vision and applicability, responsibility, respect, fairness, and honestly. Identify several of the qualities of a good project manager. - Answer Project managers often take on the role of both leader and manager. Good project managers know that people make or break projects, so they must set a good example to lead their team to success. They are aware of the greater needs of their stakeholders and organizations, so they are visionary in guiding their current projects and in suggesting future ones. Companies that excel in project, program, and portfolio management grow project leaders, emphasizing development of business and leadership skills. Therefore, the best project, program, and portfolio managers have leadership and management characteristics; they are visionary yet focused on the bottom line. Above all else, good project managers focus on achieving positive results. Chapter 2: Systems analysis addresses the business, technological, and organizational issues associated with creating, maintaining, and modifying a system. - Answer False According to the symbolic frame, the most important aspect of any event in an organization is not what actually happened, but what it means. - Answer True Most people believe that the underlying causes of many companies' problems can be traced to its organizational structure. - Answer False The Adaptive Software Development (ASD) life cycle model assumes that software development follows an adaptive approach because the requirements cannot be clearly expressed early in the life cycle. - Answer True 21. In what type of organizational structure do project managers have the most authority? Answers: a. Project b. Matrix c. Functional d. Circular - Answer a. Project 21. In what type of organizational structure do project managers have the least amount of authority? Answers: a. Circular b. Functional c. Matrix d. Project - Answer b. Functional 21. In which development life cycle do stakeholders define and approve the detailed scope before the start on an iteration?Answers: a. Iterative b. Adaptive c. Hybrid d. Incremental - Answer b. Adaptive 21. predictive set of steps is used as an overall means to coordinate more detailed steps that are adaptively managed?Answers: a. Predictive b. Incremental c. Hybrid d. Adaptive - Answer b. Incremental 21. In a _____organizational structure, program managers, rather than functional managers or vice presidents, report to the CEO. Their staffs have a variety of skills needed to complete all required tasks within their programs.Answers: a. symbolic b. functional c. matrix d. project - Answer d. project 21. Which characteristic of organizational culture describes the degree to which management's decisions take into account the effect of outcomes on people within the organization?Answers: a. Unit integration b. People focus c. Member identity d. Group emphasis - Answer b. People focus