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 (D)</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) (B)</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 (C)</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% (C)</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 (C)</p> Signup and view all the answers

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

<p>$3.7 trillion (D)</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% (D)</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% (A)</p> Signup and view all the answers

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

<p>16 million (C)</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 (B)</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 (C)</p> Signup and view all the answers

What is a key characteristic of very novel projects?

<p>Listening skills (C)</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 (D)</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 (B)</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 (D)</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 (C)</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 (D)</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 (B)</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 (C)</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 (D)</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 (B)</p> Signup and view all the answers

What are the three key goals of successful project management?

<p>Scope, time, and cost (A)</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 (C)</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 (A)</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 (D)</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 (A)</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 (D)</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 (A)</p> Signup and view all the answers

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

<p>Exceeding quality standards (B)</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' (C)</p> Signup and view all the answers

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

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

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