Project Management Exam 1 Questions Actual Exam Questions With Correct Verified Answers.

A) An established objective B) A clear beginning and end C) Specific time, cost and performance requirements E) Something never been done before - correct answers What are characteristic of a project? Writing a policy manual - correct answers When considering the following activities, which is the best example of a project? Defining - correct answers In the _____________ stage of the project life cycle, project objectives are established, teams are formed, and major responsibilities are assigned. Executing - correct answers In the _____________ stage of the project life cycle, a major portion of the physical project work performed. A) Managing a temporary activity This one B) Overseeing existing operations C) Managing a non-repetitive activity D) Responsible for time, cost and performance trade-offs E) Work with a group of outsiders, including vendors and suppliers - correct answersWhich of the following is NOT typical of a project manager? 1. Defining 2. Planning 3. Executing 4. Closing - correct answersWhat are the correct order of stages within the project life cycle? Developing a new residential area that includes six custom homes - correct answersExample of a program This one A) A method to ensure projects that are important to senior management are being implemented B) An assessment of the risk their portfolio of projects represents C) An overview of all project management activities D) A metric to measure the improvement of managing projects relative to others in the industry E) A big picture of how organizational resources are being used. - correct answersGovernance of all project management processes and procedures helps provide senior management with all of the following except A) It is not limited to the private sector B) Many opportunities are available for individuals interested in this career path C) It improves one's ability to plan, implement and manage activities to accomplish specific organizational objectives This one D) It focuses primarily on technical processes E) It is a set of tool - correct answersThe following is NOT true about project management Outsourcing significant segments of project work - correct answersCorporate downsizing has increased the trend toward A) WBS B) Budgets This one C) Problem solving D) Schedules E) Status reports - correct answersWhich of these is NOT part of the "technical dimension" of project management? A) Work with others to create a schedule and budget B) Need to understand project priorities so they can make independent decisions C) Need to be able to monitor and report project progress D) Need to understand the project charter or scope statement that defines the objectives and parameters of the project This one E) All of these are reasons it is important for project team members to understand project management - correct answersProject management is important to understand when someone is a part of a project team because they Project management is increasingly contributing to achieving organizational strategies - correct answersWhich of the following statements is true? Sociocultural - correct answersWhich dimension of project management centers on creating a temporary social system within a larger organizational environment that combines the talents of a divergent set of professionals working to complete the project? A) Compression of the product life cycle B) Knowledge explosion C) Increasing need for multi-project management This One D) Declining need for product customization E) More sustainable business practices - correct answersWhich of the following choices is NOT one of the driving forces behind the increasing demand for project management? A) Strategy determines how an organization will compete B) Strategy is implemented through projects This One C) Only top management must understand strategy D) Project selection should be clearly aligned to strategy E) Project management plays a key role in supporting strategy - correct answersWhich of the following is NOT true about an organization's strategy? This One A) Project managers should not engage in organizational politics B) Politics can have a significant influence on which projects receive funding C) Politics exist in every organization D) Politics can influence project selection E) Politics can play a role in the aspirations behind projects - correct answersWhich of the following is NOT true about organizational politics Sacred cow - correct answersThis term is often used to denote a project that a powerful, high-ranking official is advocating? A) Demonstrate to senior management how their project contributes to the firm's mission B) Explain to team members why certain project objectives and priorities are critical C) Explain to stakeholders why certain project objectives and priorities are critical D) Be able to respond appropriately to delays and/or questions about product design This One E) Be able to focus on problems or solutions, even if the project is a low priority strategically - correct answersProject managers who understand the role that their project plays in accomplishing the organization's strategy are able to do all of the following EXCEPT Implementation gap - correct answersWhich of the following problems refers to lack of understanding and consensus of organization strategy among top and middle-level managers? This also can result when top management formulates strategy and leaves implementation to functional managers. This one A) It should be done once every few years just before developing the operating plan B) It supports consistency of action at every level of the organization C) It develops an integrated and coordinated long-term plan of action D) It positions the firm to meet the needs of its customers E) It involves responding to changes in the external market and allocating scarce resources to improve a competitive position - correct answersWhich of the following is NOT true for strategic management? 1. Mission 2. strategies 3. objectives 4. projects - correct answersWhat is the correct order of Strategic Management Process? What do we want to become? - correct answersWhat question does the organization's mission statement answer? - Assess internal strengths and weaknesses - Analyze competitors - Examine the external environment - Know their core competencies - correct answersIn order to formulate strategies that align with the mission, the organization will need to A) Allocation of resources B) Prioritizing of projects C) Motivation of project contributors D) Adequate planning and control systems This One E) Quality management - correct answersWhich of the following is NOT one of the requirements for successful implementation of strategies through projects? Multitasking - correct answersSusie's department is implementing many projects. She finds herself starting and stopping work on one task to go and work on another task, and then return to the work on the original task. Susie is experiencing The project's fit to the organization strategy - correct answersRegardless of the criteria differences among different types of projects, the most important criterion for project selection is A) Will include quantitative criteria B) Will include qualitative criteria C) Each criterion is assigned a weight D) Projects with higher scores are considered more desirable This One E) All of these are true - correct answersWhich of the following is true of multi-weighted scoring models?