Sample Quiz

Specific time, cost, and performance requirements are among the characteristics that separate project management from other endeavors of the organization.

Project management is critically significant only for the electronics industry.

Programs are processes designed to accomplish goals that are common to a program over time.

As the number of small projects increase within an organization's portfolio, what is a challenge an organization faces?

The concept of project portfolio management holds that firms should:

Project portfolio management is typically NOT used to balance:

Individual activities and their durations are developed in which process group?

The advertisement agency handed over all the data and sample prints of the new marketing campaign to the customer in the ________ process group.

The man-hours requirement is typically at a peak during which process group of the project life cycle?

The degree of innovation and creativity is typically at its highest in which process group?

The accumulated amount of corporate investment is typically at its highest in which process group?

The magic triangle supports a project manager to manage a project effectively!

The three standard parts of the magic triangle in project management are:

A project typically has:

The Project Management Body of Knowledge Guide definition of a project indicates that a project is:

The acronym PMBoK stands for:

Which of these is NOT characteristic of a project?

Which of the following types of activities is more closely associated with projects rather than processes?

Which of the following is accomplished through project management?

Projects differ from classic organizational processes because projects are:

Client interest is typically at its lowest during the:

The degree of innovation and creativity is typically at its highest during the:

Which of these factors are highly similar from an intensity perspective across the project life cycle?

The degree of risk associated with the project is typically at its highest during the:

Projects, rather than repetitive tasks, are now the basis for most value-added in business.

The business success dimension of project success determines whether the project achieved significant commercial success.

The classic triple constraint standard for project performance is composed of time, cost, and client acceptance.

Prior to undertaking a project, a pure strategic perspective on project management should ask any of the following questions EXCEPT:

Which of the following is NOT a strategic management element?

Which of the following terms describes a vision statement well?

One of the purposes of a mission statement is to

Developing a strategy that takes advantage of both internal strengths and external opportunities identified in a TOWS matrix is an example of a:

The TOWS matrix is mainly used to mitigate external opportunities and internal strengths.

The _____ is rather defensive and aims to minimize weaknesses and avoid threats.

Imagine you are conducting a TOWS analysis for a European manufacturer who exports to the US. If the US Dollar unfavorably depreciated, which category would you place that in for your analysis?

Which statement about stakeholders is best?

Which of the following is an internal project stakeholder group?

Which of the following is an external stakeholder group?

If a stakeholder has a high interest in a project and can exercise high levels of power, which stakeholder management strategy is best?

If a stakeholder has a low interest in a project and can exercise high levels of power, which stakeholder management strategy is best?

Probably the most common type of organizational structure today is:

A functional organization structure is a weakness for project management because:

All major decisions and authority are under the control of the project manager in a:

The project manager controls most of the project activities and functions, including the assignment and control of project resources in the:

Which project structure is best for the following situations:

A PMO is NOT used:

A typical PMO may provide assistance to a project manager of the organization in:

The PMO is used as a tracking and monitoring device under the:

The greatest advantage of a PMO is that:

Which of the following is NOT an element of strategic management?

One purpose of a mission statement is to:

Which statement about stakeholders is BEST?

Which of the following statements about clients is BEST?

The functional structure is well-suited when:

In general, the poorest organizational structure when it comes to managing projects is probably the:

A PMO is NOT used:

The greatest advantage of a PMO is that:

A project organization does not have functional departments.

The same project managed in the same fashion may succeed in one organization but fail in another.

The project screening criterion that indicates an effective model must reflect organization objectives, including a firm's strategic goals and mission is called:

The project screening criterion of “realism” addresses the question:

A selection model that is broad enough to be applied to multiple projects has the benefit of:

A commercial factor in project selection and screening might be:

Which statement regarding project selection is BEST?

Which statement regarding project selection and screening criteria is BEST?

Which statement about scope management is BEST?

Which of these is NOT an element of project scope management?

Conceptual development creates the following main output:

The statement of work should contain:

Any measurable, tangible, verifiable outcome, result, or item that must be produced to complete a project or part of a project is a:

Budget and schedule information for each activity in a project is contained in the:

“Project A is supposed to implement a new sales structure to increase sales by 5% (500,000 EUR) by the end of next year. Mr. John Doe will be in charge of implementing the project.” Which of the SMART criteria cannot be clearly identified in this statement?

The highest level of Work Breakdown Structure is the:

What are Work Breakdown Structure elements that must be completed to conclude the project deliverables?

A work package may consist of more than one milestone

The PMBoK definition stating, "a hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the project deliverables," is for the:

What are Work Breakdown Structure elements that must be completed to conclude the project deliverables?

The step that represents the formal "go ahead" given to the project to begin once the scope specification, planning documents and other contractual documents have been prepared and accepted is as follows:

In the case of projects developed for external clients, work authorization typically addresses:

Until a project has gone through Work Breakdown Structure, it is impossible to determine the relationships among the constituent activities.

The reporting frequency, report recipients, and content required during project execution is laid out by:

Updates on how the project is performing against milestones can be accomplished by issuing a report containing:

Procedures that monitor emerging project scope against the original baseline scope are called:

Systems for monitoring the project's scope, schedule, and costs during the design stage fall under the heading of:

Scope management is the function controlling a project in terms of its goals and objectives during the execution phase.

The management of project changes is most effectively accomplished:

Which statement about scope management is BEST?

The scope baseline is a document that provides a summary description of each reporting relationship along with a schedule for meetings and reports.

Which of these is NOT an element of project scope management?

Which statement about conceptual development is BEST?

The statement of work should contain:

What are work breakdown structure elements that must be completed to conclude the project deliverables?

The lowest level in work breakdown structure contains the:

The costs attached to subdeliverables:

A project manager can identify personnel who will be directly responsible for each task in the project's development by using a/an:

Procedures that monitor emerging project scope against the original baseline scope are called:

Scope management is the function controlling a project in terms of its goals and objectives during the execution phase.

The statement of work is a detailed narrative description of the work required for a project.

A lump-sum contract requires the customer to pay for the full delivered price of the project before any work is done.

A work package may be composed of one or more subdeliverables.

A Responsibility Assignment Matrix clearly helps us to get an overview of accrued cost and resource loadings during a project

A clear benefit of the Responsibility Assignment Matrix is that it provides a clear linkage among all project team members and combats the danger of a potential communication vacuum.

A project that must be finished by December 31st is:

In a resource constrained project, the work must be finished by a certain time, or date, as efficiently as possible.

The amounts of individual resources that a schedule requires during specific time periods is referred to as the resource's:

A resource loading table can be generated once you have developed:

Which of the following would NOT typically be displayed in a resource loading table?

The horizontal axis of a resource loading chart is in units of:

The BEST method for establishing the existence of resource conflicts across project activities uses:

A resource loading chart displays:

The idea behind resource leveling is to avoid huge swings in utilization of labor and equipment.

As resource management is typically a multivariate, combinatorial problem (i.e., one that is characterized by multiple solutions involving literally dozens, hundreds, or even thousands of activity variables), mathematically optimal solutions may be difficult to find

The problem of resource underutilization that a project manager faces when managing a single project disappears in the multi-project environment.

The amounts of individual resources that a schedule requires during specific time periods is referred to as the resource's:

Placing resources on a detailed schedule of tasks is referred to as:

Splitting activities refers to:

Which of the following is NOT a possibility to prioritize resource challenges in multiproject environments?

Project risk is highest during the:

In a resource constrained project, the work must be finished by a certain time, or date, as efficiently as possible.

There is, for almost all projects, usually a dominant constraint that serves as the final arbiter of project decisions.

The resource usage table tells us the project team members, their assigned tasks, and the time each task is expected to take.

Project risk is highest during the:

The amount a company has at stake in a project rises above the dollar value of opportunity in the:

Risk management is a:

The probability that funds allocated to the project will be insufficient to complete it is:

Use the failure probability and consequence scores shown in the table to determine the project risk factor for the project. Maturity 0.6 Cost 0.2 Complexity 0.8 Schedule 0.3 Dependency 0.6 Reliability 0.2 Performance 0.5

Twenty-thousand dollars was budgeted for the office renovation that had a task contingency multiplier of 1.3. The estimated cost of the task must be

The first phase of a comprehensive project risk assessment should be:

Risks can be quantified by multiplying the likelihood a failure will occur by the severity of the failure.

One approach to risk mitigation is simply to accept it.

Contingency reserves require a construction company to hold back some funds in an account just in case something happens that increases the overall project cost.

A budget contingency of $1 million on a total $10 million project means that the project will be planned for a cost of $10 million, but the project organization receives an extra $1 million to guard against unforeseen cost overruns.

A learning rate of 90% means that for every doubling of output, the time required by the activity falls by 10%

An expedited cost is one that does not vary with respect to their usage.

Material is an example of a cost that is recurring, variable and direct.

A disadvantage of contingency funds is:

Contingency money is:

What is the total amount budgeted for design costs in this time-phased budget? Activity January February March April Survey 8,000 - - - Design 5,250 4,500 - - Dirt - 6,700 - - Foundation - 12,550 - - Framing - - 37,250 - Plumb - - 7,800 - Wire - - - 5,500

Which of the following is NOT contained in a typical time-phased budget?

Which of these estimates should be the most accurate?

Estimates based on the assumption that historical data can be used as a frame of reference for current estimates are:

Unplanned costs incurred when steps are taken to speed up a project's completion are called:

Which of these is typically a recurring cost?

A systems analyst is paid at the rate of $50/hour and will be needed for 40 hours. Her employer uses an overhead multiplier of 60% and does not factor in personal time. Her total direct labor cost should be billed at:

Which of the following is a direct cost?

One of the defining points of a network, a junction point joined to some or all of the others by dependency lines, is called a(n):

Serial activities are those that:

A selection model that is broad enough to be applied to multiple projects has the benefit of:

A project screening criterion that allows the company to compare long-term versus short-term projects, projects with different technologies, and projects with different commercial objectives is:

The first step in the control cycle is:

Project goal setting includes setting a baseline plan, which is predicated on:

A project manager that uses milestones as a project control device is using a:

A tracking Gantt chart:

Earned value management jointly considers the impact of:

A project manager can calculate the projected budget to completion by using the:

The project control cycle is continuous.

One step in earned value management is to create usage schedules for activities and resources.

Since a project may get ahead of or fall behind schedule, a calendar date cannot be a milestone.