Project Management Certification Program with all
Correct & 100% Verified Answers |Actual Complete
Exam |Already Graded A+
What is a Project? ✔Correct Answer-a project is a temporary endeavor undertaken to create a
unique product or service.
Project has a life Cycle ✔Correct Answer-Every project has a life cycle with definite start and end
dates.
Project is Unique in Nature ✔Correct Answer-The important tasks within a work are called
projects. Thus, projects differ from on-going operations, as they come into existence for a unique
activity.
Project has an objective ✔Correct Answer-In the above example, the objective is to develop a new
technology within the time schedule, resources, and budget earmarked for the purpose. A project is
deemed successful only if:
1. it is completed
2.The completion is within the budget
3. The completion is within the scheduled time
4. The completion satisfies the stakeholders.
Project Involves Risks ✔Correct Answer-There are certain risks associated with all kinds of projects.
Project is an Amalgam of Different Activities ✔Correct Answer-There are different activities
involved in a Project. All such activities are to be completed to complete the project.
Project is a single Entity ✔Correct Answer-This single entity called project is a responsibility of one
Project Manager.
Project Involves Sub-Contracted Work ✔Correct Answer-A project can have as much as 70-80% of
its work being sub-contracted to external agencies.
Project is a Collaborative Effort ✔Correct Answer-In the context of Project Management, a project
is a team effort.
Project Grows in Stages ✔Correct Answer-Once the project has been initiated, everything seems to
fall into place.
How do Projects Differ from One Another? ✔Correct Answer-Speed, Location, Size, Scope, and
Technology
Construction Projects ✔Correct Answer-Involve building structures like offices, factories, schools,
and mansions.
Research Projects ✔Correct Answer-Involve studying, testing, and examining a given subject,
product, or service.
,Re-engineering Projects ✔Correct Answer-Involve making additions and alterations in a given
system, task, or process.
Procurement Projects ✔Correct Answer-Involve purchasing the required resources or commodities
Software Development Projects ✔Correct Answer-Involve creating new computer programs or
software, or customizing the existing programs or software as per the needs and demands.
Planning Projects ✔Correct Answer-Involve planning for an organization, society, club, institute,
etc.
Installation Projects ✔Correct Answer-Involve installing an equipment, machine, device,
instrument, etc.
Event Management Projects ✔Correct Answer-Involves managing an event like a fashion show,
talent show, corporate party, press conference, pleasure trip, etc.
Product/Service Projects ✔Correct Answer-Involve creating a tangible product or an intangible
service.
Maintenance Projects ✔Correct Answer-Involve maintenance of a factory, office, industrial unit,
etc.
What is a Project Management? ✔Correct Answer-Project Management is all about managing
costs, time, scope, risks, and quality of the project. Project Management acts as a tool which enables
a Project Manager to streamline the various processes involved in the project. A deliverable is
reckoned as a quality deliverable if it has been created within the resources the organization ahs
earmarked for it, and satisfies the expectations of the stakeholders. "Project Management is the
application of knowledge, skills, tools, and techniques to project activities in order to meet or exceed
stakeholder needs and expectations from a project."
Importance of Project Management ✔Correct Answer-Project Management is as important as
winning. Project Management spells out the techniques required to take a project towards its
destination in the prescribed time duration and approved budget.
Who is a Project Manager? ✔Correct Answer-A Project Manager is the Captain of the team. He
guides the team, plans the strategies, tracks the progress of the activities, and monitors the whole
work.
Project Manager should be: ✔Correct Answer-Good Communicator
Skillful Team Manager
Judicious Planner
Friendly Guide
Domain Expert
Inspiring Leader
Stirring Motivator
Smart at Problem Solving
Good at Calculations
Shrewd Negotiator
, What's meant by the term "Stakeholders?" ✔Correct Answer-The Organization that is carrying out
the project
The Project Manager who manages the project
The customers for whom the project deliverable is produced
The Project Sponsor who provides the funds or resources for the project.
What is a Project Deliverable? ✔Correct Answer-The product or service to be produced through a
project is called the project deliverable. Is a measurable output of a project.
Initiating Project ✔Correct Answer-Is the beginning or the launching of a project. This process gives
a formal confirmation to the necessity of undertaking a particular project. A project is started by
weighing its pros and cons and assessing all its aspects.
Planning ✔Correct Answer-The planning phase includes all the factors associated with a project,
whether major or minor, internal or external.
Defining the scope of the project and its objective.
Planning the budget.
Planning the time schedules for the project activities.
Planning the procurement.
Planning the project team requirements and recruitment.
Planning the risks involved in the project.
Executing ✔Correct Answer-Good plans needs to be well executed to make a project successful. A
quality deliverable is possible only if all the processes are qualitatively executed.
Controlling ✔Correct Answer-The controlling phase keeps tabs on different phases of the project
and analyzes the qualitative and quantitative worth of all the activities that are carried out to
successfully complete the project.
It measures the project performance
it compares all the actual performances with the expected performance, as laid down in the project
plan.
in case of any discrepancy, it takes corrective measures to put the project back on track, as per the
plan.
Closing ✔Correct Answer-There is an official announcement of the project closure. It involves
important activities like conducting the project audit, holding the final meetings, filing and
submitting all the project related documents and reports, presenting the project closure report and
getting it endorsed by the steering committee or the management.`
What is the project Selection Process? ✔Correct Answer-A company has the option to undertake
hordes of projects, but it does not take all of them. A company wisely picks the projects that best suit
its interests, objective, capabilities, and resources. The process of rightly choosing the projects and
aptly prioritizing them is called project selection process.
How is a Projecf Selected? ✔Correct Answer-The company first examines the offer from different
perspectives, weighs its pros and cons, and measures it up against other projects that the company
might be having in the pipeline.
Payback period (PP) ✔Correct Answer-The payback Period refers to the time required to recover
the costs on investment. Is based on the principle that every capital expenditure is recovered within
a certain period of time.
Correct & 100% Verified Answers |Actual Complete
Exam |Already Graded A+
What is a Project? ✔Correct Answer-a project is a temporary endeavor undertaken to create a
unique product or service.
Project has a life Cycle ✔Correct Answer-Every project has a life cycle with definite start and end
dates.
Project is Unique in Nature ✔Correct Answer-The important tasks within a work are called
projects. Thus, projects differ from on-going operations, as they come into existence for a unique
activity.
Project has an objective ✔Correct Answer-In the above example, the objective is to develop a new
technology within the time schedule, resources, and budget earmarked for the purpose. A project is
deemed successful only if:
1. it is completed
2.The completion is within the budget
3. The completion is within the scheduled time
4. The completion satisfies the stakeholders.
Project Involves Risks ✔Correct Answer-There are certain risks associated with all kinds of projects.
Project is an Amalgam of Different Activities ✔Correct Answer-There are different activities
involved in a Project. All such activities are to be completed to complete the project.
Project is a single Entity ✔Correct Answer-This single entity called project is a responsibility of one
Project Manager.
Project Involves Sub-Contracted Work ✔Correct Answer-A project can have as much as 70-80% of
its work being sub-contracted to external agencies.
Project is a Collaborative Effort ✔Correct Answer-In the context of Project Management, a project
is a team effort.
Project Grows in Stages ✔Correct Answer-Once the project has been initiated, everything seems to
fall into place.
How do Projects Differ from One Another? ✔Correct Answer-Speed, Location, Size, Scope, and
Technology
Construction Projects ✔Correct Answer-Involve building structures like offices, factories, schools,
and mansions.
Research Projects ✔Correct Answer-Involve studying, testing, and examining a given subject,
product, or service.
,Re-engineering Projects ✔Correct Answer-Involve making additions and alterations in a given
system, task, or process.
Procurement Projects ✔Correct Answer-Involve purchasing the required resources or commodities
Software Development Projects ✔Correct Answer-Involve creating new computer programs or
software, or customizing the existing programs or software as per the needs and demands.
Planning Projects ✔Correct Answer-Involve planning for an organization, society, club, institute,
etc.
Installation Projects ✔Correct Answer-Involve installing an equipment, machine, device,
instrument, etc.
Event Management Projects ✔Correct Answer-Involves managing an event like a fashion show,
talent show, corporate party, press conference, pleasure trip, etc.
Product/Service Projects ✔Correct Answer-Involve creating a tangible product or an intangible
service.
Maintenance Projects ✔Correct Answer-Involve maintenance of a factory, office, industrial unit,
etc.
What is a Project Management? ✔Correct Answer-Project Management is all about managing
costs, time, scope, risks, and quality of the project. Project Management acts as a tool which enables
a Project Manager to streamline the various processes involved in the project. A deliverable is
reckoned as a quality deliverable if it has been created within the resources the organization ahs
earmarked for it, and satisfies the expectations of the stakeholders. "Project Management is the
application of knowledge, skills, tools, and techniques to project activities in order to meet or exceed
stakeholder needs and expectations from a project."
Importance of Project Management ✔Correct Answer-Project Management is as important as
winning. Project Management spells out the techniques required to take a project towards its
destination in the prescribed time duration and approved budget.
Who is a Project Manager? ✔Correct Answer-A Project Manager is the Captain of the team. He
guides the team, plans the strategies, tracks the progress of the activities, and monitors the whole
work.
Project Manager should be: ✔Correct Answer-Good Communicator
Skillful Team Manager
Judicious Planner
Friendly Guide
Domain Expert
Inspiring Leader
Stirring Motivator
Smart at Problem Solving
Good at Calculations
Shrewd Negotiator
, What's meant by the term "Stakeholders?" ✔Correct Answer-The Organization that is carrying out
the project
The Project Manager who manages the project
The customers for whom the project deliverable is produced
The Project Sponsor who provides the funds or resources for the project.
What is a Project Deliverable? ✔Correct Answer-The product or service to be produced through a
project is called the project deliverable. Is a measurable output of a project.
Initiating Project ✔Correct Answer-Is the beginning or the launching of a project. This process gives
a formal confirmation to the necessity of undertaking a particular project. A project is started by
weighing its pros and cons and assessing all its aspects.
Planning ✔Correct Answer-The planning phase includes all the factors associated with a project,
whether major or minor, internal or external.
Defining the scope of the project and its objective.
Planning the budget.
Planning the time schedules for the project activities.
Planning the procurement.
Planning the project team requirements and recruitment.
Planning the risks involved in the project.
Executing ✔Correct Answer-Good plans needs to be well executed to make a project successful. A
quality deliverable is possible only if all the processes are qualitatively executed.
Controlling ✔Correct Answer-The controlling phase keeps tabs on different phases of the project
and analyzes the qualitative and quantitative worth of all the activities that are carried out to
successfully complete the project.
It measures the project performance
it compares all the actual performances with the expected performance, as laid down in the project
plan.
in case of any discrepancy, it takes corrective measures to put the project back on track, as per the
plan.
Closing ✔Correct Answer-There is an official announcement of the project closure. It involves
important activities like conducting the project audit, holding the final meetings, filing and
submitting all the project related documents and reports, presenting the project closure report and
getting it endorsed by the steering committee or the management.`
What is the project Selection Process? ✔Correct Answer-A company has the option to undertake
hordes of projects, but it does not take all of them. A company wisely picks the projects that best suit
its interests, objective, capabilities, and resources. The process of rightly choosing the projects and
aptly prioritizing them is called project selection process.
How is a Projecf Selected? ✔Correct Answer-The company first examines the offer from different
perspectives, weighs its pros and cons, and measures it up against other projects that the company
might be having in the pipeline.
Payback period (PP) ✔Correct Answer-The payback Period refers to the time required to recover
the costs on investment. Is based on the principle that every capital expenditure is recovered within
a certain period of time.
