BUSOBA 3230 Exam 3 UPDATED ACTUAL
Exam Questions and CORRECT Answers
Project - CORRECT ANSWER - A temporary endeavor undertaken to create a unique
product, service, or result with a defined beginning and end (prescribed time, budget and
resource limitations)
Project Management - CORRECT ANSWER - The application of knowledge, skills, tools,
and techniques to project activities to meet project requirements or objectives. Involved three
things: scope (objectives), cost of resources, time schedule (on time)
Pure Project - CORRECT ANSWER - An organizational structure where team members
work exclusively on one project, reporting directly to a project manager who has full authority.
What is a Functional Project? - CORRECT ANSWER - A structure where projects are
organized within existing functional departments.
In a Functional Project, who do team members report to? - CORRECT ANSWER -
Functional managers.
Matrix Project - CORRECT ANSWER - A hybrid structure where team members report to
both functional managers and project managers, creating a grid of authority.
Project Milestones - CORRECT ANSWER - Significant points or events in a project that
mark specific progress or achievements.
Work Breakdown Structure (WBS) - CORRECT ANSWER - A hierarchical
decomposition of the project scope into smaller, more manageable components.
Activities - CORRECT ANSWER - Specific tasks or work packages that must be
completed to deliver project outputs
, Critical Path - CORRECT ANSWER - The sequence of activities that determines the
minimum possible project duration.
Immediate Predecessor - CORRECT ANSWER - An activity that must be completed
before another activity can begin.
Slack Time - CORRECT ANSWER - The amount of time an activity can be delayed
without delaying the project completion date (latest start - earliest start/ latest finish - earliest
finish)
Early Start Schedule - CORRECT ANSWER - The earliest possible start time for each
activity based on the project network.
Late Start Schedule - CORRECT ANSWER - The latest possible start time for each
activity that won't delay the project completion.
Time-Cost Models ("Crashing") - CORRECT ANSWER - Techniques used to reduce
project duration by adding resources to critical path activities.
Psychological Safety - CORRECT ANSWER - All take turns and active/ostentatious
listening
Lean Production - CORRECT ANSWER - A methodology focused on minimizing waste
within manufacturing systems while maximizing productivity and customer value; originated
from Toyota's practices.
Customer Value - CORRECT ANSWER - What customers are willing to pay for; the
features, qualities, or capabilities that meet customer needs and expectations.
Exam Questions and CORRECT Answers
Project - CORRECT ANSWER - A temporary endeavor undertaken to create a unique
product, service, or result with a defined beginning and end (prescribed time, budget and
resource limitations)
Project Management - CORRECT ANSWER - The application of knowledge, skills, tools,
and techniques to project activities to meet project requirements or objectives. Involved three
things: scope (objectives), cost of resources, time schedule (on time)
Pure Project - CORRECT ANSWER - An organizational structure where team members
work exclusively on one project, reporting directly to a project manager who has full authority.
What is a Functional Project? - CORRECT ANSWER - A structure where projects are
organized within existing functional departments.
In a Functional Project, who do team members report to? - CORRECT ANSWER -
Functional managers.
Matrix Project - CORRECT ANSWER - A hybrid structure where team members report to
both functional managers and project managers, creating a grid of authority.
Project Milestones - CORRECT ANSWER - Significant points or events in a project that
mark specific progress or achievements.
Work Breakdown Structure (WBS) - CORRECT ANSWER - A hierarchical
decomposition of the project scope into smaller, more manageable components.
Activities - CORRECT ANSWER - Specific tasks or work packages that must be
completed to deliver project outputs
, Critical Path - CORRECT ANSWER - The sequence of activities that determines the
minimum possible project duration.
Immediate Predecessor - CORRECT ANSWER - An activity that must be completed
before another activity can begin.
Slack Time - CORRECT ANSWER - The amount of time an activity can be delayed
without delaying the project completion date (latest start - earliest start/ latest finish - earliest
finish)
Early Start Schedule - CORRECT ANSWER - The earliest possible start time for each
activity based on the project network.
Late Start Schedule - CORRECT ANSWER - The latest possible start time for each
activity that won't delay the project completion.
Time-Cost Models ("Crashing") - CORRECT ANSWER - Techniques used to reduce
project duration by adding resources to critical path activities.
Psychological Safety - CORRECT ANSWER - All take turns and active/ostentatious
listening
Lean Production - CORRECT ANSWER - A methodology focused on minimizing waste
within manufacturing systems while maximizing productivity and customer value; originated
from Toyota's practices.
Customer Value - CORRECT ANSWER - What customers are willing to pay for; the
features, qualities, or capabilities that meet customer needs and expectations.
