Business 311: Project Management Complete Exam Questions With Correct Verified Answers.

What is Project Management? - correct answer - Project manager: organize and coordinate human and financial resources so that projects are completed - Project: 1-time events that have specific start and end date -- design new software to increase efficiency -- building a bridge -- creating a new product -- expanding sales into new territory - Project Management (PM): when a company applies its human and financial resources to plan and execute a specific task --- 5 Stage of Project Management --- -- Project initiation -- 1 - project team members are assigned - project goals are communicated to team members - work with your clients to gather as much information as they can regarding project specifications so that they can develop a plan -- Project Planning --2 - a written project charter is drafter - Gantt Chart: shows workflow of a project, a detailed schedule of what will happen and when - ^^ developed by Henry Gantt, American mechanical engineer -- Execution Stage --3 - resources are distributed - Relevant project information Which is NOT a stage of project management? - correct answer Participation Who developed PERT? - correct answer Navy In which stage are Gantt charts first used? - correct answer Planning How many stages of project management are there? - correct answer 5 How often does a company engage in a particular project? - correct answer once Project Management Skills - correct answer Project management: the utilization of skills in order to get a project from start to finish --- Project Manager's Skill Set --- - knowledgeable about their organization; their operations, products and services - communicate that knowledge to customers - organization and multi-tasking are key - Leadership, responsible for taking a project from start to finish, knowing how to motivate and inspire employees - confidence, you want to know that the person in charge is capable and confident in completing a project - communication, if a project manager cannot communicate tasks, expectations, goals, and progress, a project will never be successfully completed - problem solving; requires creativity and negotiation, find a resolution quickly Because tasks are often being completed at the same time, a project manager needs to _____. - correct answer Be able to multi-task Which is NOT a skill of a project manager? - correct answer Quality assurance A crucial skill for project managers is to be knowledgeable about their organization, including its _____. - correct answer All answers are correct. - products - services - operations Which skill entails knowing how to find resolutions? - correct answer Problem solving Project management entails _____. - correct answer using skills to take a project from start to finish What is a Project Management Office? - correct answer Project Management Office (PMO): a group established within a company that clarifies and maintains project management standards - created for a special, one-time project and disassemble afterward, OR created to offer long-term administrative assistance for project managers - PMO is established to help provide any help, guidance, or administrative assistance so that projects can be better managed and implemented within a company - PMO helps process paperwork involved in projects, like consent forms from the students participating in field trips or other activities - PMO helps guide project managers from start of a program to the end, ensuring that it runs smoothly --- PMO Roles --- -- Project Repository Project Management Office -- - offer information on the standards and methodology of how projects should be carried out -- Departmental Project Management Office -- - Assigned to a specific department or unit within a company -- Project-Specific PMO -- - Designed for a specific project Which type of PMO offers training and tools for project managers? - correct answer Center of excellence A group that delegates, organizes, and oversees projects within a company is know as: - correct answer A PMO What does PMO stand for? - correct answer Project management office What is a project management office that is assigned to a specific department called? - correct answer Departmental When is a PMO used? - correct answer All of the answers are correct - For a project in a specific department - For all projects - For a specific project Benefits of Project Management - correct answer - when a company partakes in good project management, it lowers the probability of a project failing - assigning a project manager, your company is making sure that someone is watching over the project and helping it get from start to finish - PM helps a project fulfil its requirements; makes sure that goals outline in the project are successfully met - utilizing employees efficiently - PM helps simplify tasks and resolves problems more efficiently - when a project is outline, employees know what's expected of them and should recognize when a problem exists - reduction in costs; if employees stay on task expenses can be reduced AND creating quality templates that can be reused on all future projects A task that has defined perimeters in business is known as what? - correct answer A project A project is a task that's not part of a daily routine that has defined perimeters and is unique. Which of the following is true about project management? - correct answer It helps reduce costs. Which one is NOT true about project management? - correct answer It causes confusion. The act of using skills, tools and other resources to get a project from start to finish is called: - correct answer Project management Project management: - correct answer All of the answers are correct - Helps simplify tasks and resolve problems - Assigns someone to watch over the project - Ensures your company has the appropriate number of employees working on a project Project Stakeholders - correct answer Project Management Body of Knowledge (PMBOK Guide); a project stakeholder; an individual, group or organization that might affect, be affected by, or perceive itself as affected by a decision, or activity or outcome of a project - stakeholders can be internal or external to the project or organization - may exert influence on the project, project deliverables, or the team in order to satisfy their own agenda --- Stakeholder Identification --- - think about who the team and customers are, as well as any other organizations that might be affected by the project and create a list - EXAMPLE for a house project - The construction company (also known as the project team) - Subcontractors - The homeowner (or customer) - The bank (or financer)