Project Management Fundamentals

Podcast

Play an AI-generated podcast conversation about this lesson

Download our mobile app to listen on the go

Get App

Questions and Answers

Which of the following BEST describes a project, according to the Project Management Institute (PMI)?

An ongoing activity with the primary goal of reducing costs.
A repetitive process intended to create ongoing outputs.
A temporary endeavor undertaken to produce a unique product, service, or result. (correct)
A continuous operation focused on maintaining consistent performance.

What are the key characteristics that DEFINE a project?

Unlimited resources and undefined goals.
Definite starting and ending points, along with a budget and clearly defined scope. (correct)
A flexible timeline and variable budget.
An ambiguous scope and no performance requirements.

Why do smaller projects tend to have a higher success rate than larger ones?

Smaller projects have less visibility, making them appear more successful.
Larger projects inherently involve less risk.
Smaller projects always have more experienced project managers.
Larger projects typically have more complex requirements and greater resource demands. (correct)

According to PMI, what are the three basic areas that organizations should focus on to improve project success rates?

Culture, Talent, and Process. (C) Signup and view all the answers

Which of the following BEST describes 'project management'?

The application of knowledge, skills, tools, and techniques to meet project requirements. (D) Signup and view all the answers

Which of the following is NOT one of the five new project management processes listed?

Plan Quality Management (B) Signup and view all the answers

What is the significance of involving the people who will do the work in project planning?

Those closest to the work can provide valuable insights and improve the plan's feasibility. (C) Signup and view all the answers

Why is scheduling sometimes a misconception?

Scheduling is a major tool to manage projects, but not as important as developing a shared understanding or constructing a WBS. (B) Signup and view all the answers

What does it mean to be an 'accidental project manager'?

You were thrust into a project management role without the title or support. (D) Signup and view all the answers

Why is it a potential problem if a PM is also required to do part of the actual work?

The PM is distracted from overall management responsibilities. (A) Signup and view all the answers

In the context of project constraints, what typically happens when a project sponsor dictates all four of the project constraints (time, budget, scope, performance)?

It is likely to be unachievable, because it doesn't work. (A) Signup and view all the answers

What is the simplest way to describe the phases of a project?

Beginning, Middle, and End. (B) Signup and view all the answers

What is the importance of 'effort expended in planning' phase in an appropriate project lifecycle?

Expend more focus in the planning. (B) Signup and view all the answers

What does J.M Juran's definition mean, 'A project is a problem scheduled for solution?'

A project is set to solve a specific problem. (A) Signup and view all the answers

Based on the material, what is the result of a troubled project?

Continuous chaos and disagreement. (A) Signup and view all the answers

Flashcards

Project (Definition)

A temporary endeavor undertaken to produce a unique product, service, or result.

Project Management

The application of knowledge, skills, tools, and techniques to project activities to achieve project requirements, through initiating, planning, executing, controlling, and closing.