Project Management C783 Questions
With Correct Answers
IRR b(internal brate bof breturn) b- bcorrect banswers✔✔The bdiscount brate bwhen bthe
bpresent bvalue bof bthe bcash binflows bequals bthe boriginal binvestment. bProjects bwith
bhigher bIRR bvalues bare bgenerally bconsidered bbetter bthan bprojects bwith blower bIRR
bvalues. bIRR bassumes bthat bcash binflows bare breinvested bat bthe bIRR bvalue.
Operation b- bcorrect banswers✔✔Operation bis ba bfunction bthat bperforms bongoing btaks
band bconstitutes ban borganization's bon-going, brepetitive bactivities bsuch bas
baccounting bor bproduction. bIt bis bused bto brun bregular bbusiness bmodels band bis
bperformed bto bachieve bbusiness bgoal band bsustain bthe bbusiness
Organization b- bcorrect banswers✔✔Organization bis ba bprocess bof bdividing bwork binto
bsections band bdepartments. bIt binvolves ballocation bof bauthority, bresponsibility, band
bduties bamong ball bthe bmembers bof ban benterprise. bIt bis ba bgroup bof bindividuals
borganized bto bwork bfor bsome bpurpose bor bmission.
Payback bperiod b- bcorrect banswers✔✔The blength bof btime bit btakes ba bcompany bto
brecover bthe binitial bcost bof bproducing ba bproduct bor bservice bof ba bproject
Performing borganization b- bcorrect banswers✔✔performing borganization bis breferred bto
bas bthe bspecific benterprise bor bgroup bthat bis bviewed bby ball bparties bto bbe bthe bone
bthat bis bmost bdirectly band bexplicitly binvolved bin ball bphases band baspects bof bdoing
bany band ball bwork bof bthe bgiven band brespective bproject. bIt bis bthe borganization bthat
bis bperforming bthe bproject.
Portfolio bmanagement b- bcorrect banswers✔✔Portfolio bmanagement bis bthe
bcentralized bmanagement bof bone bor bmore bportfolios bthat bhelp bin bidentifying,
bauthorizing, bprioritizing, bmanaging, band bcontrolling bprojects, bprograms, band bother
brelated bwork bfor battaining bparticular bbusiness bobjectives bin bthe bstrategic bplan bof
bthe borganization
Process b- bcorrect banswers✔✔A bprocess bis bdefined bas ba bset bof brelated btasks
bperformed bfor bmanaging ba bcertain baspect bof ba bproject, bsuch bas bcost.
,program b- bcorrect banswers✔✔in bmanagement bterms, ba bprogram bis ba bgroup bof
brelated bprojects. bthese bprojects bare bgrouped bto bobtain bbenefits band bcontrol bthat
bis bnot bavailable bfrom bmanaging bthem bindividually. bPrograms bare ba bmeans bof
bachieving borganizational bgoals band bobjectives
Program bmanagement b- bcorrect banswers✔✔program bmanagement bis bthe
bcentralized, bcoordinated bmanagement bor ba bprogram bto bachieve bthe bprogram's
bstrategic bobjectives band bbenefits. bProgram bmanagement binvolves bthe
bmanagement
Project bManagement bknowledge bareas b- bcorrect banswers✔✔ten bproject
bmanagement bgroups bthat bbring btogether bcommon bor brelated bprocesses:
-Project bIntegration bManagement
-Project bScope bManagement
-Project bSchedule bManagement
-Project bCost bManagement
-Project bQuality bManagement
-Project bResource bManagement
-Project bCommunications bManagement
-Project bRisk bManagement
-Project bProcurement bManagement
-Project bStakeholder bManagement
Project bphase b- bcorrect banswers✔✔combination bof bassociated bactivities bthat
brepresent ba bdistinct bstage bwithin ba bproject. bA bproject bphase bcan bhave bdistinct
bstart band bfinish bdates band binclude bseveral bstages bof bplanning band bwork. bIt bis ba
bset bof blogically brelated bactivities bthat busually bcomplete bone bor bmore bmajor
bdeliverables bof bthe bproject
Closing bprocess bgroup b- bcorrect banswers✔✔final bstage bof ba bproject. bIt bincludes
bthe bformal bacceptance bof bthe bproject band bthe bending bthereof
Executing bprocess bgroup b- bcorrect banswers✔✔the bexecuting bprocess bgroup bis ba
bstage bor bphase bof ba bproject. bIt bstarts bafter bthe bplanning bphase bof ba bproject bis
bover. bIt bconsists bof bthe bprocesses bused bto bcomplete bthe bwork bdefined bin bthe
bproject bmanagement bplan bto baccomplish bthe bproject's brequirements
Initiating b- bcorrect banswers✔✔Initiating bis ba bprocess bgroup bor bstage bthat boccurs
bat bthe bbeginning bof bthe bproject. bIt bdetermines bthe bnature band bscope bof bthe
bdevelopment. bIf bthis bstage bis bnot bperformed bwell, bit bis bunlikely bthat bthe bproject
bwill bbe bsuccessful bin bmeeting bthe bbusiness bneeds
Monitoring band bControlling bProcess bgroup b- bcorrect banswers✔✔Monitoring band
bcontrolling bconsists bof bthose bprocesses bthat bare bperformed bto bobserve bproject
bexecution, bso bthat bpotential bproblems bcan bbe bidentified bin ba btimely bmanner band
, bcorrective baction bcan bbe btaken, bwhen bnecessary, bto bcontrol bthe bexecution bof bthe
bproject
Project bmanagement bprocess bgroups b- bcorrect banswers✔✔the bproject
bmanagement bprocess bgroups bprogress bfrom binitiating bactivities bto bplanning
bactivities, bexecuting bactivities, bmonitoring band bcontrolling bactivities, band bclosing
bactivities. bThe bprocess bgroups bare blinked bby bthe bresults bthey bproduce, bI.e, bthe
bresult bor boutcome bof bone bbecomes ban binput bto banother
NPV b(net bpresent bvalue) b- bcorrect banswers✔✔net bpresent bvalue bevaluates bthe
bcash binflows busing bthe bdiscounted bcash bflow btechnique, bwhich bis bapplied bto beach
bperiod bthe binflows bare bexpected. bThe btotal bpresent bvalue bof bthe bcash bflows bis
bdeducted bfrom bthe binitial binvestment bto bdetermine bNPV. bIt bassumes bthat bcash
binflows bare breinvested bat bthe bcost bof bcapital. bThis bis bsimilar bto bdiscounted bcash
bflow
Project bProcesses b- bcorrect banswers✔✔A bprocess bis ba bsequence bof
binterdependent band blinked bprocedures bconsuming bone bor bmore bresources bto
bconvert binputs binto boutputs. bThese boutputs bthen bserve bas binputs bfor bthe bnext
bstage buntil ba bknown bgoal bor bend bresult bis breached
Project bLife bCycle b- bcorrect banswers✔✔The bproject blife bcycle bis ba bgroup bof
bsequential band brelated bproject bphases bthat bare bdefined bby bthe borganization band
bcontrol bneeds bof bthe bmanagement bor borganizations bconcerned bwith bthe bproject,
bthe bnature bof bthe bproject bitself, band bthe bapplication barea.
Project b- bcorrect banswers✔✔In bPM, ba bproject bconsists bof ba btemporary bendeavor
bundertaken bto bcreate ba bunique bproduct, bservice, bor bresult. bAnother bdefinition bis ba
bmanagement benvironment bthat bis bcreated bfor bthe bpurpose bof bdelivering bone bor
bmore bbusiness bproducts baccording bto ba bspecified bbusiness bcase.
Program bManagement bOffice b- bcorrect banswers✔✔A bprogram bmanagement boffice
bis ban borganizational bentity bthat bis bstructured bfor bapplying bprogram bmanagement
bpractices bto bthe bneeds bof ba bparticular bprogram. bIt bis bresponsible bfor bproviding
bcentralized bcoordinated bsupport bto bthe bprogram bmanagers bmanaging bprograms
band bunrelated bprojects
Functional bOrganization b- bcorrect banswers✔✔In ba bfunctional borganization, bteam
bmembers bare bloyal bto btheir bdepartment band breport bonly bto btheir bfunctional
bmanager. bThe bproject bmanager bis bpart-time bon bthe bproject band breports bto ba
bfunctional bmanager; bthe bteam bmembers bare bpart-time bas bwell. bThe bproject
bmanager bhas bonly blimited bcontrol bover bteam bmembers bbecause bthey breport bto
bthe bfunctional bmanager
Matrix bOrganization b- bcorrect banswers✔✔In ba bmatrix borganization, bteam bmembers
bmaintain ba bhome bin btheir bdepartment band breport bto bboth bthe bfunctional bmanager
With Correct Answers
IRR b(internal brate bof breturn) b- bcorrect banswers✔✔The bdiscount brate bwhen bthe
bpresent bvalue bof bthe bcash binflows bequals bthe boriginal binvestment. bProjects bwith
bhigher bIRR bvalues bare bgenerally bconsidered bbetter bthan bprojects bwith blower bIRR
bvalues. bIRR bassumes bthat bcash binflows bare breinvested bat bthe bIRR bvalue.
Operation b- bcorrect banswers✔✔Operation bis ba bfunction bthat bperforms bongoing btaks
band bconstitutes ban borganization's bon-going, brepetitive bactivities bsuch bas
baccounting bor bproduction. bIt bis bused bto brun bregular bbusiness bmodels band bis
bperformed bto bachieve bbusiness bgoal band bsustain bthe bbusiness
Organization b- bcorrect banswers✔✔Organization bis ba bprocess bof bdividing bwork binto
bsections band bdepartments. bIt binvolves ballocation bof bauthority, bresponsibility, band
bduties bamong ball bthe bmembers bof ban benterprise. bIt bis ba bgroup bof bindividuals
borganized bto bwork bfor bsome bpurpose bor bmission.
Payback bperiod b- bcorrect banswers✔✔The blength bof btime bit btakes ba bcompany bto
brecover bthe binitial bcost bof bproducing ba bproduct bor bservice bof ba bproject
Performing borganization b- bcorrect banswers✔✔performing borganization bis breferred bto
bas bthe bspecific benterprise bor bgroup bthat bis bviewed bby ball bparties bto bbe bthe bone
bthat bis bmost bdirectly band bexplicitly binvolved bin ball bphases band baspects bof bdoing
bany band ball bwork bof bthe bgiven band brespective bproject. bIt bis bthe borganization bthat
bis bperforming bthe bproject.
Portfolio bmanagement b- bcorrect banswers✔✔Portfolio bmanagement bis bthe
bcentralized bmanagement bof bone bor bmore bportfolios bthat bhelp bin bidentifying,
bauthorizing, bprioritizing, bmanaging, band bcontrolling bprojects, bprograms, band bother
brelated bwork bfor battaining bparticular bbusiness bobjectives bin bthe bstrategic bplan bof
bthe borganization
Process b- bcorrect banswers✔✔A bprocess bis bdefined bas ba bset bof brelated btasks
bperformed bfor bmanaging ba bcertain baspect bof ba bproject, bsuch bas bcost.
,program b- bcorrect banswers✔✔in bmanagement bterms, ba bprogram bis ba bgroup bof
brelated bprojects. bthese bprojects bare bgrouped bto bobtain bbenefits band bcontrol bthat
bis bnot bavailable bfrom bmanaging bthem bindividually. bPrograms bare ba bmeans bof
bachieving borganizational bgoals band bobjectives
Program bmanagement b- bcorrect banswers✔✔program bmanagement bis bthe
bcentralized, bcoordinated bmanagement bor ba bprogram bto bachieve bthe bprogram's
bstrategic bobjectives band bbenefits. bProgram bmanagement binvolves bthe
bmanagement
Project bManagement bknowledge bareas b- bcorrect banswers✔✔ten bproject
bmanagement bgroups bthat bbring btogether bcommon bor brelated bprocesses:
-Project bIntegration bManagement
-Project bScope bManagement
-Project bSchedule bManagement
-Project bCost bManagement
-Project bQuality bManagement
-Project bResource bManagement
-Project bCommunications bManagement
-Project bRisk bManagement
-Project bProcurement bManagement
-Project bStakeholder bManagement
Project bphase b- bcorrect banswers✔✔combination bof bassociated bactivities bthat
brepresent ba bdistinct bstage bwithin ba bproject. bA bproject bphase bcan bhave bdistinct
bstart band bfinish bdates band binclude bseveral bstages bof bplanning band bwork. bIt bis ba
bset bof blogically brelated bactivities bthat busually bcomplete bone bor bmore bmajor
bdeliverables bof bthe bproject
Closing bprocess bgroup b- bcorrect banswers✔✔final bstage bof ba bproject. bIt bincludes
bthe bformal bacceptance bof bthe bproject band bthe bending bthereof
Executing bprocess bgroup b- bcorrect banswers✔✔the bexecuting bprocess bgroup bis ba
bstage bor bphase bof ba bproject. bIt bstarts bafter bthe bplanning bphase bof ba bproject bis
bover. bIt bconsists bof bthe bprocesses bused bto bcomplete bthe bwork bdefined bin bthe
bproject bmanagement bplan bto baccomplish bthe bproject's brequirements
Initiating b- bcorrect banswers✔✔Initiating bis ba bprocess bgroup bor bstage bthat boccurs
bat bthe bbeginning bof bthe bproject. bIt bdetermines bthe bnature band bscope bof bthe
bdevelopment. bIf bthis bstage bis bnot bperformed bwell, bit bis bunlikely bthat bthe bproject
bwill bbe bsuccessful bin bmeeting bthe bbusiness bneeds
Monitoring band bControlling bProcess bgroup b- bcorrect banswers✔✔Monitoring band
bcontrolling bconsists bof bthose bprocesses bthat bare bperformed bto bobserve bproject
bexecution, bso bthat bpotential bproblems bcan bbe bidentified bin ba btimely bmanner band
, bcorrective baction bcan bbe btaken, bwhen bnecessary, bto bcontrol bthe bexecution bof bthe
bproject
Project bmanagement bprocess bgroups b- bcorrect banswers✔✔the bproject
bmanagement bprocess bgroups bprogress bfrom binitiating bactivities bto bplanning
bactivities, bexecuting bactivities, bmonitoring band bcontrolling bactivities, band bclosing
bactivities. bThe bprocess bgroups bare blinked bby bthe bresults bthey bproduce, bI.e, bthe
bresult bor boutcome bof bone bbecomes ban binput bto banother
NPV b(net bpresent bvalue) b- bcorrect banswers✔✔net bpresent bvalue bevaluates bthe
bcash binflows busing bthe bdiscounted bcash bflow btechnique, bwhich bis bapplied bto beach
bperiod bthe binflows bare bexpected. bThe btotal bpresent bvalue bof bthe bcash bflows bis
bdeducted bfrom bthe binitial binvestment bto bdetermine bNPV. bIt bassumes bthat bcash
binflows bare breinvested bat bthe bcost bof bcapital. bThis bis bsimilar bto bdiscounted bcash
bflow
Project bProcesses b- bcorrect banswers✔✔A bprocess bis ba bsequence bof
binterdependent band blinked bprocedures bconsuming bone bor bmore bresources bto
bconvert binputs binto boutputs. bThese boutputs bthen bserve bas binputs bfor bthe bnext
bstage buntil ba bknown bgoal bor bend bresult bis breached
Project bLife bCycle b- bcorrect banswers✔✔The bproject blife bcycle bis ba bgroup bof
bsequential band brelated bproject bphases bthat bare bdefined bby bthe borganization band
bcontrol bneeds bof bthe bmanagement bor borganizations bconcerned bwith bthe bproject,
bthe bnature bof bthe bproject bitself, band bthe bapplication barea.
Project b- bcorrect banswers✔✔In bPM, ba bproject bconsists bof ba btemporary bendeavor
bundertaken bto bcreate ba bunique bproduct, bservice, bor bresult. bAnother bdefinition bis ba
bmanagement benvironment bthat bis bcreated bfor bthe bpurpose bof bdelivering bone bor
bmore bbusiness bproducts baccording bto ba bspecified bbusiness bcase.
Program bManagement bOffice b- bcorrect banswers✔✔A bprogram bmanagement boffice
bis ban borganizational bentity bthat bis bstructured bfor bapplying bprogram bmanagement
bpractices bto bthe bneeds bof ba bparticular bprogram. bIt bis bresponsible bfor bproviding
bcentralized bcoordinated bsupport bto bthe bprogram bmanagers bmanaging bprograms
band bunrelated bprojects
Functional bOrganization b- bcorrect banswers✔✔In ba bfunctional borganization, bteam
bmembers bare bloyal bto btheir bdepartment band breport bonly bto btheir bfunctional
bmanager. bThe bproject bmanager bis bpart-time bon bthe bproject band breports bto ba
bfunctional bmanager; bthe bteam bmembers bare bpart-time bas bwell. bThe bproject
bmanager bhas bonly blimited bcontrol bover bteam bmembers bbecause bthey breport bto
bthe bfunctional bmanager
Matrix bOrganization b- bcorrect banswers✔✔In ba bmatrix borganization, bteam bmembers
bmaintain ba bhome bin btheir bdepartment band breport bto bboth bthe bfunctional bmanager
