Project Management Week 1 Criteria and Learning Objectives

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What is emphasized as a crucial aspect in managing new ideas or initiatives according to the text?

Applying project management mindset (correct)

Working individually without a team

Using traditional management concepts

Avoiding project planning tools

Why does the text suggest that repeated operations and functions provide an unreal sense of urgency?

Because they lack effective time estimations (correct)

Because they lead to poor quality outcomes

Because they don't involve team collaboration

Because they result in unexpected events

What is identified as a consequence of the absence of project management based on the text?

Cost overruns (correct)

Improved quality outcomes

Controlled expansion of work

Increased productivity

What is a possible outcome of missed deadlines in project management?

Cost overruns Signup and view all the answers

What concept does the text suggest is preferable for managing new ideas compared to traditional management concepts?

Project planning tools Signup and view all the answers

In the context of the text, what is mentioned as an advantage of having a project management mindset to manage new ideas?

Effective and efficient idea management Signup and view all the answers

What is a program?

A group of related projects managed together Signup and view all the answers

What is the key activity during the 'Conceptualization' phase of a project?

Developing the initial goal and technical specifications Signup and view all the answers

What are the components of a Project's Triple Constraints?

Cost, Time, and Scope Signup and view all the answers

What distinguishes a Portfolio from a Program?

A Portfolio includes projects, programs, and operations managed together Signup and view all the answers

How is completing a project at planned COSTS related to other project aspects?

It involves managing Costs while ensuring completion on Time and Scope Signup and view all the answers

What is an example of a Global Project mentioned in the text?

NEOM City in Saudi Arabia Signup and view all the answers

What is the purpose of a Project Charter?

To define the why of the project Signup and view all the answers

Which industry is NOT mentioned as utilizing Project Management in the text?

Agriculture Signup and view all the answers

What are the responsibilities of a Project Manager?

Performing risk management activities Signup and view all the answers

Which process involves determining if a project is feasible and obtaining necessary approvals?

Initiating process Signup and view all the answers

In Project Management, what does 'scope' refer to?

What work is included or excluded Signup and view all the answers

What skill is NOT attributed to a Project Manager in the text?

Quality assurance testing Signup and view all the answers

What is the most critical component of the triple constraint?

Quality, then budget, then time Signup and view all the answers

Which of the following best describes a project stakeholder?

Someone who works in an area affected by the project Signup and view all the answers

Which of the following is NOT an element in the definition of a project?

A project is composed of unrelated activities Signup and view all the answers

What distinguishes project management from other process activities?

Emphasis on achieving specific goals within specified constraints Signup and view all the answers

What does the Project Business Case aim to establish?

Business needs Signup and view all the answers

Which of the following is considered an Internal Enterprise Environmental Factor?

Employee Capability Signup and view all the answers

What do Enterprise Environmental Factors refer to?

External factors that affect the project team Signup and view all the answers

Which element is NOT included in the Project Business Case?

Risk Study information Signup and view all the answers

What is one component that the Project Business Case lacks sufficient definition of?

Scope Signup and view all the answers

Which activity consumes the majority of the project budget?

Man Hours Signup and view all the answers