Quiz 1 (Ch 1 & 2)

Governance of all project management processes and procedures helps provide senior management with all of the following EXCEPT a) A method to ensure projects that are important to senior management are being implemented b) An assessment of the risk their portfolio of projects represents c) An overview of all project management activities d) A metric to measure the improvement of managing projects relative to others in the industry e) A big picture of how organizational resources are being used

Which of these is NOT part of the "technical dimension" of project management? a) WBS b) Budgets c) Problem solving d) Schedules e) Status reports

A project selection process that is strongly linked to strategy results in a) The most profit. b) Better utilization of the organization's resources. c) More projects. d) A larger and more diverse organization. e) Stronger core competencies.

Which of the following represents the correct order of stages within the project life cycle? Planning, Defining, Executing, Closing Closing, Planning, Defining, Executing Defining, Planning, Executing, Closing Executing, Defining, Planning, Closing Planning, Defining, Closing, Executing

Regardless of the criteria differences among different types of projects, the most important criterion for project selection is How the project will balance risk within the project portfolio The project's fit to the organization strategy Compliance Nonfinancial Profit

Which of the following is true of multiweighted scoring models? Will include quantitative criteria Will include qualitative criteria Each criterion is assigned a weight Projects with higher scores are considered more desirable All of these are true

All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT Frequent conflicts between managers. Inadequate resources. Confused employees regarding which projects are more important. Not enough projects within the portfolio to make a profit. People are working on multiple projects and feel inefficient.

Project management is ideally suited for a business environment requiring all of the following EXCEPT Accountability. Flexibility. Innovation. Speed. Repeatability.

Which of the following activities is the best example of a project? Processing insurance claims Producing automobiles Writing a policy manual Monitoring product quality Overseeing customer requests

Which of the following is NOT true about organizational politics? Project managers should not engage in organizational politics Politics can have a significant influence on which projects receive funding Politics exist in every organization Politics can influence project selection Politics can play a role in the aspirations behind projects

The following are responsibilities of the governance team when managing a portfolio system EXCEPT Deciding how they wish to balance the available organizational resources among the different types of projects. Publishing the priority of every project and ensuring the process is open and free of power politics. Evaluating the progress of the projects in the portfolio. Constant scanning of the external environment to determine if organizational selection criteria need to be changed. Communicating which projects are approved.

In the _____________ stage of the project life cycle, project objectives are established, teams are formed, and major responsibilities are assigned. Identifying Defining Planning Executing Closing

Which of the following is NOT true about project management? It is not limited to the private sector Many opportunities are available for individuals interested in this career path It improves one's ability to plan, implement and manage activities to accomplish specific organizational objectives It focuses primarily on technical processes It is a set of tools

Which of the following is NOT a problem associated with the absence of a project portfolio system? Organizational politics Lack of funding Resource conflicts Multitasking Implementation gap

Which of the following is NOT true when managing a portfolio system? The qualities of a particular project are assessed within the context of existing projects It does not require a constant effort Within a small organization it can be managed by a small group of key employees It requires input from senior management It involves monitoring and adjusting criteria to reflect the strategic focus of the organization

Which of the following is NOT one of the driving forces behind the increasing demand for project management? Compression of the product life cycle Knowledge explosion Increasing need for multiproject management Declining need for product customization More sustainable business practices

Two dimensions within the project management process are Technical and sociocultural. Cost and time. Planned and unexpected. Established and new. Unique and reoccurring.

A series of coordinated, related, multiple projects that continue over an extended time period and are intended to achieve a goal is known as a Strategy. Program. Campaign. Crusade. Venture.

The __________ financial model measures the current value of all cash inflows using management's minimum desired rate of return. FUBAR ARR IRS IRB None of these

Which of the following activities is NOT considered a project? Developing a new software program Designing a space station Preparing the site for the Olympic Games Production of automobile tires Developing a new advertising program

Susie's department is implementing many projects. She finds herself starting and stopping work on one task to go and work on another task, and then return to the work on the original task. Susie is experiencing Poor scheduling. Excess work burden. Flexible tasking. Multitasking. Burnout.

Which of the following is NOT one of the requirements for successful implementation of strategies through projects? Allocation of resources Prioritizing of projects Motivation of project contributors Adequate planning and control systems Quality management

Which of the following is NOT one of the characteristics of effective objectives? Realistic Assignable Flexible Specific Measurable

Which of the following would be classified as an organizational threat? Slowing of the economy Excellent employees Poor product quality Declining facilities High labor costs

Project management is important to understand when people are a part of a project team because they Work with others to create a schedule and budget. Need to understand project priorities so they can make independent decisions. Need to be able to monitor and report project progress. Need to understand the project charter or scope statement that defines the objectives and parameters of the project. All of these are reasons it is important for project team members to understand project management.

Which of the following is NOT considered to be a characteristic of a project? An established objective A clear beginning and end Specific time, cost and performance requirements For internal use only Something never been done before

Project selection criteria are typically classified as Financial and nonfinancial. Short-term and long-term. Strategic and tactical. Required and optional. Cost and schedule.

Corporate downsizing has increased the trend toward Reducing the number of projects a company initiates. Outsourcing significant segments of project work. Using dedicated project teams. Shorter project lead times. Longer project lead times.

Which of the following is the correct order for the strategic management process? Strategies, mission, objectives, projects Objectives, projects, mission, strategies Mission, strategies, objectives, projects Objectives, mission, strategies, projects Projects, mission, strategies, objectives

Which dimension of project management centers on creating a temporary social system within a larger organizational environment that combines the talents of a divergent set of professionals working to complete the project? Communication Sociocultural Social Technical Scheduling