A project is a temporary endeavor undertaken to create a unique product, service, or result. Show True A project is a lasting endeavor undertaken ot maintain a reliable product or service. False Most projects are conducted with constraints on the amount of time and funding available to the project manager. True Project plans and goals usually become more specific as early work is completed. True Operations consist of the ongoing work needed to ensure the organization continues to function effectively. True Customers may need to sacrifice expectations related to cost or schedule in order to realize their expectations for scope or quality. True An important factor used to determine the phases in a project life cycle are the control needs of the organization(s) involved in the project. True Generally, project life cycle stages are designed so that the amount of money spent in each of the stages is nearly equivalent. False Project customers can be either internal or external to the organization. True Different project life cycle models are used for different types of projects. True All projects go through a common project life cycle that includes four stages: concept, development, production and close-out. False The name and number of phases in a project life cycle are determined by the organization(s) involved in the project. True Integration management represents the processes and activities to identify, define, combine, unify and coordinate the various processes and project management activities. True Scope management includes the processes to manage timely completion of the project. False Communications management generally entails the processes that organize, manage, and lead the project team. False Stakeholder management is comprised of the processes to identify the people, groups, or organizations that could impact or be impacted by the project, analyze their expectations and impact, and developing strategies for engaging them and managing conflicting interests. True Cost management processes are involved in planning, estimating, budgeting,m financing, funding, managing and controlling costs so that the project can be completed within the approved budget. True The most critical measures of project success are completing the project on schedule and on budget. False Some projects are considered successful if they reap business benefits like increased profitability, even if completed late or over budget. True In reality, many projects are fully successful in some ways, but less successful in others. True In agile projects, the customer representative role is passive, and their involvement is typically limited to the early stages of the project. False The project manager is normally directly accountable for the project results, schedule and budget. True The project management office (PMO) is typically the person or group that provides the financial resources and support for the project, and is accountable for enabling success. False Which of the following examples is NOT a typical or appropriate situation to employ project management? a.improving an existing work process c Which of the following examples is NOT a typical or appropriate situation to employ project management? a.improving a soldering process in an assembly
line B All of the following factors have influenced the increased reliance upon project management in recent years EXCEPT: a.rapid growth and changes in the information technology and telecommunications industries D Projects often require tradeoffs among all of the following EXCEPT: a.scope D Once projects are completed, they will typically yield all of the following results EXCEPT: a.a unique product, service or result B In an adaptive or change - driven project life cycle: C Which of the following statements correctly describes project management? a.Project management applies knowledge, skills, tools and techniques to project activities. A Which of the following statements regarding project life cycles is most accurate? a.All research and development organizations rely upon a four-stage project life cycle that includes initiating, planning, executing and closing. C In the PMBOK, the five logical groupings of the project management inputs, tools and techniques, and outputs are called the: B When applied to project management, the human resource management knowledge area typically involves which of the following activities? a. D Which of the ten knowledge areas defined in the Project Management Body of Knowledge includes the processes required to ensure that the project includes all the work required, and only the work required, to complete the project successfully? A Which of the ten knowledge areas defined in the Project Management Body of Knowledge includes the activities of purchasing or acquiring products, services or results from outside the project team? a. D Achieving project success is determined by all of the following EXCEPT: a.creating deliverables that include all required features B Projects are considered successful for all of the reasons below EXCEPT:.. a. C Which of the following actions will likely cause a project to fail? a. C Project failure can result from all of the following causes EXCEPT: a.support of senior management A A project manager in agile projects who serves and leads in a collaborative, facilitation manner is called a: a.program manager B Typically, a steering team or leadership team is responsible for all of the following project related roles EXCEPT: a.selecting, prioritizing and
resourcing projects B Which of the following roles is typically associated with the project manager? a.the person assigned by the performing organization to lead the team that is responsible for achieving the
project objectives A Typically, the senior customer representative is responsible for which of the following project roles? a.develops the project schedule and budget C From an agile project management perspective, which of these constraints are considered to be fixed? B Strategic analysis is an important first step in setting strategic direction. True Strategic analysis is often called SWOT - Strengths, Weaknesses, Opportunities and Threats (SWOT). True Strategic analysis is often called SWOT - Start With Objectives Template (SWOT). False The internal part of strategic analysis considers opportunities and threats posed by competitors, suppliers and regulatory agencies among others. False The organization's leadership should establish guiding principles such as the vision and mission for an organization before developing strategic objectives. True The organization's leadership should establish the strategic objectives to set the stage for the strategic analysis. False The vision should present a positive, inspiring and vivid description of the organization as it currently exists. False Strategic objectives should focus decisions regarding which projects to select and how to prioritize them. True Strategic objectives describe both long and short term results that are desired, along with measures to determine their achievement. True Projects tend to be the primary method for implementing many objectives True A portfolio is a collection of projects, programs, subportfolios, and operations managed as a group to achieve strategic business objectives. True A project portfolio is a useful storage medium that enables the project manager to consolidate all project information in a single, convenient location. False Portfolio management aligns with organizational strategies by selecting the right projects, prioritizing work, and providing needed resources. True If an organization does not have the right capabilities, a project may be too difficult to complete successfully. True The degree of formality used in selecting projects varies widely across organizations. True While there is a wide variety of projects across organizations, the degree of formality used in selecting them is largely uniform. False
The prioritization of projects in a portfolio should consider whether the demands of performing each project are clearly understood True Payback period models do not consider the amount of profit that may be realized after the costs are paid. True None of the financial project selection models ensure alignment of the project with an organization's strategic goals. True Scoring models are most useful when there are multiple projects and several criteria to consider. True Traditional financial models are most useful when there are multiple projects and several criteria to consider. False There are times that certain projects must be selected regardless of any considerations such as strategic fit, profitability or probability of success. True In addition to considering financial factors, project selection should often consider how well each project fits with the organization's strategic planning. True Scoring models are very useful in providing input regarding the starting order of projects. True Project selection scoring models are very useful in providing performance data that can be used to terminate a project. False When a firm prepares to submit a proposal, it is really conducting a small project with the primary deliverable of the project being a compelling and complete proposal. True When a client company decides to engage an external contractor to perform project work, it must be prepared to submit a proposal and prepare a bid. False Which of the following statements concerning strategic analysis is true? a. D All of the following factors influence the opportunities and threats an organization must consider when performing a strategic analysis EXCEPT: a. D A clear and compelling vision will have all the following characteristics EXCEPT: a. C Which of the following responses most accurately depicts the correct sequence of activities in the strategic planning process? a. C Many writers have stated that effective objectives should be: a. B All of the following statements concerning project portfolios are true EXCEPT: a. B Portfolios deal with all of an organization's projects, while programs deal with: B Portfolio management helps an organization achieve its strategic goals in all of the following ways EXCEPT: a. A The document that describes why the project is needed, and may include estimated costs and benefits, is called a: B All of the following factors should be assessed to determine an organization's ability to perform projects EXCEPT: a. C All of the following represent appropriate sources to identify new potential projects EXCEPT: a. D Which of the following statements best describes the contemporary use of financial models and scoring models for project selection? a. A Which of the following statements correctly describes a weakness associated with the financial project selection model? a. B All of the following criteria serve as a valid basis for identifying potential projects in most organizations EXCEPT: a. D Once selected projects have been prioritized, it is time to assign resources to projects based on their order of priority. Resources could include all of the following EXCEPT: C Which of the following is NOT a typical source
selection criterion that an organization would use to evaluate potential contractors? C All of the following organizations can effectively use a scoring model to select and prioritize competing projects EXCEPT: a. D All of the following may be negotiated between a client company and a contractor EXCEPT: C What are the 4 types of projects?Types of Projects:. (1) Manufacturing Projects:. (2) Construction Projects:. (3) Management Projects:. (4) Research Projects:. A project usually has three objectives:. (1) Function or Performance:. (2) Containment of Expenditure within Budget:. (3) Time Scale is the Third Factor:. What are the top 3 considerations you must make for a project?Typically, people will answer in terms of the triple constraint of:. Time – they will have preferred deadlines. They may have required deadlines.. Cost – they may want you to keep within a certain budget.. Quality – they may set you specific quality standards to meet.. What are the top five 5 best practices related to good project management?Project Management Best Practices. Build your business case for the project.. Develop a project brief.. Create a project plan.. Establish clear and consistent communication.. Maintain a schedule and cadence.. Plan for setbacks and how to take corrective action.. Closely monitor your project for scope creep.. Which of the following is not a resource considered in project management?You work as a project in your company, and you're determining the cost of project resources. Which of the following is NOT a project resource? Staffing Management plan is not a resource.
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