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 (A)</p>
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Which project management phase involves the use of Earned Value Analysis?

<p>Project Execution (C)</p>
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Which software tool can be used for project management and tracking?

<p>Project management software (D)</p>
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What is one of the ways suggested to control stress as mentioned in the text?

<p>Taking a short walk after high-stress meetings (D)</p>
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What is emphasized as essential for effective stress management?

<p>Improving your physical surroundings (A)</p>
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Which of the following is mentioned as a strategy to prioritize tasks effectively?

<p>Eliminating tasks that are unnecessary (D)</p>
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What is one suggestion for minimizing stress according to the text?

<p>Transferring or delegating tasks when possible (C)</p>
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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; (A)</p>
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Which attribute is highlighted as part of the effective project managers' summary?

<p>Credibility (D)</p>
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What is the primary method project groups use to obtain stakeholder feedback?

<p>Regular and structured face-to-face meetings (B)</p>
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Which method is mentioned as a secondary way to obtain stakeholder feedback?

<p>Employee surveys (B)</p>
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In the example provided, what is the goal of the process improvement project at the hospital?

<p>Reducing turnaround times for patients' stress tests (B)</p>
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How is the turnaround time for a stress test defined?

<p>Elapsed time from ordering the stress test to receiving the results (B)</p>
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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 (B)</p>
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What is NOT mentioned as a method used by project groups to obtain stakeholder feedback?

<p>Direct marketing campaigns (B)</p>
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What is the Net Present Value (NPV) of a project?

<p>The sum of all the cash flows over the life of the project (D)</p>
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How is the Net Present Value (NPV) calculated?

<p>By discounting all future cash flows to their present value (D)</p>
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What does the Internal Rate of Return (IRR) represent?

<p>The percentage return on investment if all cash flows were reinvested (C)</p>
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In project selection, what does the Weighted Scoring Model help in determining?

<p>The best project option based on weighted criteria (D)</p>
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What does the Analytic Hierarchy Process (AHP) involve in project management?

<p>Evaluating different projects based on multiple criteria (C)</p>
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What aspect of a project does the Net Present Value (NPV) mainly focus on?

<p>Long-term profitability (A)</p>
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What should be included in the stakeholder register?

<p>Contact information, probable requirements and expectations, project timeline (A)</p>
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What should be catalogued in the stakeholder issue log?

<p>Issues arising, how they were resolved, stakeholder feedback (D)</p>
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Why is it important to engage with stakeholders throughout the project?

<p>To show them benefits from the project and gather feedback (D)</p>
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When should the stakeholder register and issue log be updated?

<p>Throughout the project as additional information is learned (B)</p>
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Which of the following is NOT mentioned as a component of the stakeholder register?

<p>Project milestones (A)</p>
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Apart from documenting issues, what is another purpose of the stakeholder issue log?

<p>To document stakeholder engagement strategies (A)</p>
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