MGMT 404 Final Exam Questions with Correct Answers Latest Update 2025/2026
Quality - Answers Which of the following best fits "Ensure that you develop the right products
that will satisfy the needs for which the project is undertaken"?
All projects must be aligned with programs in order to be included in a portfolio - Answers
Which of the following is NOT true regarding portfolio management?
Compare results of project performance against the baseline to measure project deviation from
the plan - Answers The purpose of monitoring and controlling is to make sure the project is
executed as planned. Which of the following is a step performed during this process group?
Planning, Executing, Monitoring and Controlling - Answers Three of the phases of the project
lifecycle are Monitoring and Controlling, Planning, and Executing. What is their correct order
between Initiating and Closing?
Highest in the beginning and decreases as the project progresses - Answers Which one is true
about risk on a project?
Team Management - Answers Which one of the following is NOT the name of a knowledge area
of the PMBOK?
Executing - Answers You have decided to outsource a piece of your project. You will conduct
procurements using a process belonging to which process group?
Progressive Elaboration - Answers Developing a more accurate, detailed project management
plan over time as better understanding of project deliverables and objectives develops
Each process must be performed at least once in a project - Answers Which is NOT true about
project management processes?
organizational process assets - Answers process or process-related assets that can be used to
help the project succeed
Mandatory project audit guidelines - Answers Which one of the following is not an enterprise
environmental factor?
PMO - Answers The project resource availability is at maximum in organizations with the
following structure(s):
Project Charter - Answers Which document is issued to authorize a project?
Leads the project through the selection process until the project is authorized - Answers An
important function of the Project Sponsor:
Projectized - Answers Under which organizational structure are resources fully available for
project work?
, Apply project management knowledge to deliver the planned project objectives - Answers The
technical project management skill refers to the ability to
Project Sponsor - Answers Who authorizes the project?
58% - Answers We estimate that we will spend $500,000.00 on the project. The benefits the first
year are estimated at $790,000.00. What is the ROI?
$65,142 - Answers We are working on a project X with estimated profit of $65,142.00. We are
offered project Y to work on instead. Project Y has an estimated profit of $80,262.00. What is
the opportunity cost of project Y?
initiating, planning, executing, monitoring and controlling, and closing - Answers 5 Process
Groups
Integration Management
Scope Management
Schedule Management
Resource Management
Cost Management
Stakeholder Management
Communications Management
Quality Management
Risk Management
Procurement Management - Answers 10 Knowledge Areas
Project Schedule - Answers Which of the following is NOT included in the Project Charter
Develop Project Charter - Answers What is the first process you perform in managing a project?
Deliverables - Answers Which ONE is a major output of the Integration Management Process
under Executing / Directing and Managing Project Work?
Perform Integrated Change Control - Answers Name the process in the monitoring and control
phase (process group) that is used to approve or reject the change requests
From initiating through closing - Answers The integrated change control process is used to
manage changes to the project at which stage?
Project Sponsor - Answers Which of the following stakeholders can authorize the closure of a
Quality - Answers Which of the following best fits "Ensure that you develop the right products
that will satisfy the needs for which the project is undertaken"?
All projects must be aligned with programs in order to be included in a portfolio - Answers
Which of the following is NOT true regarding portfolio management?
Compare results of project performance against the baseline to measure project deviation from
the plan - Answers The purpose of monitoring and controlling is to make sure the project is
executed as planned. Which of the following is a step performed during this process group?
Planning, Executing, Monitoring and Controlling - Answers Three of the phases of the project
lifecycle are Monitoring and Controlling, Planning, and Executing. What is their correct order
between Initiating and Closing?
Highest in the beginning and decreases as the project progresses - Answers Which one is true
about risk on a project?
Team Management - Answers Which one of the following is NOT the name of a knowledge area
of the PMBOK?
Executing - Answers You have decided to outsource a piece of your project. You will conduct
procurements using a process belonging to which process group?
Progressive Elaboration - Answers Developing a more accurate, detailed project management
plan over time as better understanding of project deliverables and objectives develops
Each process must be performed at least once in a project - Answers Which is NOT true about
project management processes?
organizational process assets - Answers process or process-related assets that can be used to
help the project succeed
Mandatory project audit guidelines - Answers Which one of the following is not an enterprise
environmental factor?
PMO - Answers The project resource availability is at maximum in organizations with the
following structure(s):
Project Charter - Answers Which document is issued to authorize a project?
Leads the project through the selection process until the project is authorized - Answers An
important function of the Project Sponsor:
Projectized - Answers Under which organizational structure are resources fully available for
project work?
, Apply project management knowledge to deliver the planned project objectives - Answers The
technical project management skill refers to the ability to
Project Sponsor - Answers Who authorizes the project?
58% - Answers We estimate that we will spend $500,000.00 on the project. The benefits the first
year are estimated at $790,000.00. What is the ROI?
$65,142 - Answers We are working on a project X with estimated profit of $65,142.00. We are
offered project Y to work on instead. Project Y has an estimated profit of $80,262.00. What is
the opportunity cost of project Y?
initiating, planning, executing, monitoring and controlling, and closing - Answers 5 Process
Groups
Integration Management
Scope Management
Schedule Management
Resource Management
Cost Management
Stakeholder Management
Communications Management
Quality Management
Risk Management
Procurement Management - Answers 10 Knowledge Areas
Project Schedule - Answers Which of the following is NOT included in the Project Charter
Develop Project Charter - Answers What is the first process you perform in managing a project?
Deliverables - Answers Which ONE is a major output of the Integration Management Process
under Executing / Directing and Managing Project Work?
Perform Integrated Change Control - Answers Name the process in the monitoring and control
phase (process group) that is used to approve or reject the change requests
From initiating through closing - Answers The integrated change control process is used to
manage changes to the project at which stage?
Project Sponsor - Answers Which of the following stakeholders can authorize the closure of a
