Project Management Lecture 1: Introduction to Project Management - I
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Questions and Answers

Which project management phase involves developing a project charter?

  • Project Planning (correct)
  • IT for Project Management
  • Project Initiation
  • Project Execution

    • Which technique is used for scheduling in project management?

  • Crashing a project
  • Critical path method (CPM) (correct)
  • Resource levelling
  • Resource loading

    • What is the primary focus of the Programme Evaluation and Review Technique (PERT) in project management?

  • Time estimation (correct)
  • Project budgeting
  • Resource optimization
  • Project quality control

    • Which of the following is an essential part of an effective project manager?

    <p>Strong leadership skills</p> Signup and view all the answers

    Which project management phase involves the use of Earned Value Analysis?

    <p>Project Execution</p> Signup and view all the answers

    Which software tool can be used for project management and tracking?

    <p>Project management software</p> Signup and view all the answers

    What is one of the ways suggested to control stress as mentioned in the text?

    <p>Taking a short walk after high-stress meetings</p> Signup and view all the answers

    What is emphasized as essential for effective stress management?

    <p>Improving your physical surroundings</p> Signup and view all the answers

    Which of the following is mentioned as a strategy to prioritize tasks effectively?

    <p>Eliminating tasks that are unnecessary</p> Signup and view all the answers

    What is one suggestion for minimizing stress according to the text?

    <p>Transferring or delegating tasks when possible</p> Signup and view all the answers

    What is advised regarding anxiety and control over events in the text?

    <p>&quot;Do not develop anxiety about things over which you have no control!&quot;</p> Signup and view all the answers

    Which attribute is highlighted as part of the effective project managers' summary?

    <p>Credibility</p> Signup and view all the answers

    What is the primary method project groups use to obtain stakeholder feedback?

    <p>Regular and structured face-to-face meetings</p> Signup and view all the answers

    Which method is mentioned as a secondary way to obtain stakeholder feedback?

    <p>Employee surveys</p> Signup and view all the answers

    In the example provided, what is the goal of the process improvement project at the hospital?

    <p>Reducing turnaround times for patients' stress tests</p> Signup and view all the answers

    How is the turnaround time for a stress test defined?

    <p>Elapsed time from ordering the stress test to receiving the results</p> Signup and view all the answers

    Why do delays in receiving results from stress tests impact patient length of stay at the hospital?

    <p>They impact the timeliness of treating patients</p> Signup and view all the answers

    What is NOT mentioned as a method used by project groups to obtain stakeholder feedback?

    <p>Direct marketing campaigns</p> Signup and view all the answers

    What is the Net Present Value (NPV) of a project?

    <p>The sum of all the cash flows over the life of the project</p> Signup and view all the answers

    How is the Net Present Value (NPV) calculated?

    <p>By discounting all future cash flows to their present value</p> Signup and view all the answers

    What does the Internal Rate of Return (IRR) represent?

    <p>The percentage return on investment if all cash flows were reinvested</p> Signup and view all the answers

    In project selection, what does the Weighted Scoring Model help in determining?

    <p>The best project option based on weighted criteria</p> Signup and view all the answers

    What does the Analytic Hierarchy Process (AHP) involve in project management?

    <p>Evaluating different projects based on multiple criteria</p> Signup and view all the answers

    What aspect of a project does the Net Present Value (NPV) mainly focus on?

    <p>Long-term profitability</p> Signup and view all the answers

    What should be included in the stakeholder register?

    <p>Contact information, probable requirements and expectations, project timeline</p> Signup and view all the answers

    What should be catalogued in the stakeholder issue log?

    <p>Issues arising, how they were resolved, stakeholder feedback</p> Signup and view all the answers

    Why is it important to engage with stakeholders throughout the project?

    <p>To show them benefits from the project and gather feedback</p> Signup and view all the answers

    When should the stakeholder register and issue log be updated?

    <p>Throughout the project as additional information is learned</p> Signup and view all the answers

    Which of the following is NOT mentioned as a component of the stakeholder register?

    <p>Project milestones</p> Signup and view all the answers

    Apart from documenting issues, what is another purpose of the stakeholder issue log?

    <p>To document stakeholder engagement strategies</p> Signup and view all the answers

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