The Triple Constraint of Project Management
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Questions and Answers

What is the role of a project sponsor in a project?

  • Develops the project plan
  • Provides direction and funding (correct)
  • Manages the day-to-day activities of the project
  • Provides technical expertise

    • What percentage of organizations understand the value of project management according to the text?

  • 82%
  • 58% (correct)
  • 75%
  • 42%

    • What does the PMBOK® Guide define as a project?

  • An ongoing task
  • A long-term endeavor
  • A temporary endeavor (correct)
  • An indefinite effort

    • What are the key attributes of a project as mentioned in the text?

    <p>Is temporary, involves progressive elaboration, and has a primary customer or sponsor</p> Signup and view all the answers

    What constitutes successful project management according to the text?

    <p>Meeting all three goals (scope, time, and cost)</p> Signup and view all the answers

    Which country in the GCC has the highest average salary for an IT Project Manager according to the text?

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

    What percentage of IT projects were successful in meeting scope, time, and cost goals according to the Standish Group study in 1995?

    <p>16.2%</p> Signup and view all the answers

    How much of the world's gross product is spent on projects of all kinds?

    <p>$10 trillion</p> Signup and view all the answers

    According to Gartner, Inc., what was the worldwide IT spending projection for 2018?

    <p>$3.7 trillion</p> Signup and view all the answers

    What percentage of organizations had suffered at least one project failure in the prior 12 months according to KPMG's research in 2019?

    <p>50%</p> Signup and view all the answers

    How much did 52.7% of IT projects cost compared to their original estimates according to the Standish Group study?

    <p>129%</p> Signup and view all the answers

    What is the significant figure regarding people who regard project management as their profession?

    <p>16 million</p> Signup and view all the answers

    Which of the following skills is most important for managing large projects according to the text?

    <p>Verbal communication</p> Signup and view all the answers

    What skills are crucial for managing high uncertainty projects based on the text?

    <p>Leadership and people skills</p> Signup and view all the answers

    What is a key characteristic of very novel projects?

    <p>Listening skills</p> Signup and view all the answers

    What is the focus of the Project Management Institute (PMI) as mentioned in the text?

    <p>Attracting and retaining project managers</p> Signup and view all the answers

    Which of the following is NOT mentioned as a specific interest group within the Project Management Institute according to the text?

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

    What was the reported worldwide membership of the Project Management Institute by August 31, 2008?

    <p>277,221 members</p> Signup and view all the answers

    What is the main requirement to become a Project Management Professional (PMP) according to the text?

    <p>Having sufficient project experience, following a code of ethics, and passing the PMP exam</p> Signup and view all the answers

    What is the main purpose of joining PMI for students as mentioned in the text?

    <p>Reduced fee for PMP certification</p> Signup and view all the answers

    What is the key aspect related to ethics that Project Management Professionals need to adhere to?

    <p>Adhering to PMI's Code of Ethics and Professional Conduct</p> Signup and view all the answers

    Which category of project management tools handles multiple projects and users and typically costs $200-600 per user?

    <p>Midrange tools</p> Signup and view all the answers

    What is the main focus of project portfolio management according to the text?

    <p>Organizing and managing projects and programs as a portfolio of investments</p> Signup and view all the answers

    What is a project, as defined in the text?

    <p>A temporary endeavor undertaken to create a unique product, service, or result</p> Signup and view all the answers

    What are the three key goals of successful project management?

    <p>Scope, time, and cost</p> Signup and view all the answers

    Who are the stakeholders in a project?

    <p>A wide range of people involved or affected by project activities</p> Signup and view all the answers

    What is a program in project management?

    <p>A group of related projects managed together for benefits and control</p> Signup and view all the answers

    Which knowledge area in project management affects and is affected by all other knowledge areas?

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

    What do project managers strive to balance in order to meet the triple constraint?

    <p>Project scope, time, and cost goals</p> Signup and view all the answers

    Which of the following is NOT considered a key competency that project managers must develop?

    <p>Technology management</p> Signup and view all the answers

    'Super tools' in project management refer to tools that:

    <p>Have high use and high potential for improving project success</p> Signup and view all the answers

    'Project success' can be defined by all of the following EXCEPT:

    <p>Exceeding quality standards</p> Signup and view all the answers

    'Project Stakeholders' include which of the following groups?

    <p>'Support staff', 'Customers', 'Users', 'Suppliers', and 'Opponents to the project'</p> Signup and view all the answers

    'Project Priority Matrix' emphasizes which three elements in successful project management?

    <p>Scope, Time, and Cost</p> Signup and view all the answers

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