Project Management Test 1 with
Complete Solutions
What are some defining characteristics of projects? - ANSWER-1. An established
objective(goals)
2. A defined life span with a begining and end
3. The involvment of several departments and professionals (Specialized teams for
different tasks)
4.Doing things that hve never been done before(accomplishing someting "new"/unique)
5.Specific time, cost, and performance requirements(these are what evaluations
involve)
what a project is not - ANSWER-not everyday work, not routine, repetitive work.
Projects are done only once!
The project life cycle - ANSWER-Defining stage, planning stage, Executing stage,
Closing stage
Defining Stage - ANSWER-Specifications of the project are otlined,objectives,team
formation, responsibilities assigned
Planning Stage - ANSWER-plans developed to determine what the project will entail,
scheduling, and quality level/budget
Executing stage - ANSWER-Major portions of the work takes place(ie the bridge is
produced) time/cost used for control. Forecast, revisions, changes needed etc.
Closing Stage - ANSWER-delivering the project, redeploying project resources (re-
assigning), and post project reviews(assessing performance etc)
• What reasons account for the increasing importance of Project Management? -
ANSWER-1. Compression of the product life cycle
2. Knowledge explosion
3. Trple bottom line
4. Corporate Downsizing
5. Increased Customer Focus
1. Compression of the product life cycle - ANSWER-(The fast rate of life for new
products ie: xbox-xbox 360 etc NO ROOM FOR ERROR
, 2. Knowledge explosion - ANSWER-(new knowledge expands complexity so the need
for new methods is evident)
3. Trple bottom line - ANSWER-(planet, people, profit- environmental concerns= can't
just focus on profit maximization)
4. Corporate Downsizing - ANSWER-(project management is replacing middle
management- outsourcing is done, and more responsibilities rely on project managers)
5. Increased Customer Focus - ANSWER-(Increased competition= the need for more
value creation-customization for specific needs= closer relationships needed)
The two dimensions of the project management process are - ANSWER-Sociocultural
and Technical
Sociocultural Dimension elements include - ANSWER-Leadership, Problem solving,
Teamwork, Negotiation, Politics, Customer expectation (relationship interactions)
Technical Dimenssion elements include - ANSWER-Scope, WBS, Schedules, Resource
allocation, status reports (functions)
"works well with others" - ANSWER-Refers to the # 1 criterion for CIO's - Strong
communication and interpersonal skills is necessary.
Four activities of the strategic management process - ANSWER-1. Review and define
the organizational mission
2. Set long-range goals and objectives (BASED OFF SWOT
3. Analyze and formulate strategies to reach objectives
4. Implement strategies through projects
SW - ANSWER-internal
OT - ANSWER-external
Bread and butter projects (Top left) - ANSWER-Highly feasible(easy-low value
involve evolutionary improvements to current products and services(software
upgrades/cost reduction efforts)
Pearls(top right) - ANSWER-easy--good profit value
represent commercial advances using technology
oyster(bottom right) - ANSWER-Hard to make (low feasibility) but generate good profit
value
White elephant - ANSWER-low feasibility(hard to make)--low profits
Complete Solutions
What are some defining characteristics of projects? - ANSWER-1. An established
objective(goals)
2. A defined life span with a begining and end
3. The involvment of several departments and professionals (Specialized teams for
different tasks)
4.Doing things that hve never been done before(accomplishing someting "new"/unique)
5.Specific time, cost, and performance requirements(these are what evaluations
involve)
what a project is not - ANSWER-not everyday work, not routine, repetitive work.
Projects are done only once!
The project life cycle - ANSWER-Defining stage, planning stage, Executing stage,
Closing stage
Defining Stage - ANSWER-Specifications of the project are otlined,objectives,team
formation, responsibilities assigned
Planning Stage - ANSWER-plans developed to determine what the project will entail,
scheduling, and quality level/budget
Executing stage - ANSWER-Major portions of the work takes place(ie the bridge is
produced) time/cost used for control. Forecast, revisions, changes needed etc.
Closing Stage - ANSWER-delivering the project, redeploying project resources (re-
assigning), and post project reviews(assessing performance etc)
• What reasons account for the increasing importance of Project Management? -
ANSWER-1. Compression of the product life cycle
2. Knowledge explosion
3. Trple bottom line
4. Corporate Downsizing
5. Increased Customer Focus
1. Compression of the product life cycle - ANSWER-(The fast rate of life for new
products ie: xbox-xbox 360 etc NO ROOM FOR ERROR
, 2. Knowledge explosion - ANSWER-(new knowledge expands complexity so the need
for new methods is evident)
3. Trple bottom line - ANSWER-(planet, people, profit- environmental concerns= can't
just focus on profit maximization)
4. Corporate Downsizing - ANSWER-(project management is replacing middle
management- outsourcing is done, and more responsibilities rely on project managers)
5. Increased Customer Focus - ANSWER-(Increased competition= the need for more
value creation-customization for specific needs= closer relationships needed)
The two dimensions of the project management process are - ANSWER-Sociocultural
and Technical
Sociocultural Dimension elements include - ANSWER-Leadership, Problem solving,
Teamwork, Negotiation, Politics, Customer expectation (relationship interactions)
Technical Dimenssion elements include - ANSWER-Scope, WBS, Schedules, Resource
allocation, status reports (functions)
"works well with others" - ANSWER-Refers to the # 1 criterion for CIO's - Strong
communication and interpersonal skills is necessary.
Four activities of the strategic management process - ANSWER-1. Review and define
the organizational mission
2. Set long-range goals and objectives (BASED OFF SWOT
3. Analyze and formulate strategies to reach objectives
4. Implement strategies through projects
SW - ANSWER-internal
OT - ANSWER-external
Bread and butter projects (Top left) - ANSWER-Highly feasible(easy-low value
involve evolutionary improvements to current products and services(software
upgrades/cost reduction efforts)
Pearls(top right) - ANSWER-easy--good profit value
represent commercial advances using technology
oyster(bottom right) - ANSWER-Hard to make (low feasibility) but generate good profit
value
White elephant - ANSWER-low feasibility(hard to make)--low profits
