PMP Exam Simulation On Key Concepts Of Project Management

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PMP Exam Simulation On Key Concepts Of Project Management - Quiz

The quiz is related to Lecture 1 which is Key Concepts of Project Mangement. If you achieve less than 80%, then view the presentation again, read the slide-notes and the relevant content of PMBOK Guide Fourth edition. You should practice answering each question under 60 seconds. You have a maximum of 12 minutes to finish this quiz.
If you score 80% correct you will be awarded a certificate. Email a copy of your ceritficate to my email at 'pmp. Smmumtaz1@gmail. Com’

Questions and Answers

1.

Which of the following describes a project:
- A.
  
  An ongoing endeavor undertaken to meet customer or market requirement
- B.
  
  A set of sequential activities performed in a process or system.
- C.
  
  A set of activities performed according to standardized standards to produce same product or service
- D.
  
  A temporary endeavor undertaken to create unique product service or result
Correct Answer
D. A temporary endeavor undertaken to create unique product service or result

Explanation
A project is a temporary endeavor undertaken to create a unique product, service or result (PMBOK Guide-page 5)

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2.

Which of the following brings together a set of tools and techniques used to describe, organize and monitor the work of project activities
- A.
  
  Project managers
- B.
  
  A Guide to PMBOK
- C.
  
  Project Management
- D.
  
  Stakeholders
Correct Answer
C. Project Management

Explanation
Project management is the correct answer because it encompasses a set of tools and techniques that are used to describe, organize, and monitor the work of project activities. Project managers are responsible for implementing project management methodologies and ensuring that projects are completed successfully within the defined constraints. A Guide to PMBOK is a reference guide that provides best practices and standards for project management, while stakeholders are individuals or groups who have an interest or influence in the project. However, project management is the overarching concept that encompasses all of these elements.

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3.

Project Management is:
- A.
  
  A subset of most engineering and Information System discipline.
- B.
  
  Application of Critical Path Method and PERT.
- C.
  
  The Application of knowledge, skills, wisdom, and science, to organizational activities to achieve operational objectives.
- D.
  
  The Application of knowledge, skills, tools, and techniques to project activities to meet project requirements.
Correct Answer
D. The Application of knowledge, skills, tools, and techniques to project activities to meet project requirements.

Explanation
Project management is the application of knowledge, skills, tools, and techniques to project actvities to meet project requirement ( PMBOk Guide, page 6

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4.

The Management of ABC Paint Company has decided that all orders will now be treated as Project and that Project Manager will update orders on daily basis. Resolving all issues and will ensure that customer finally accepts the order within 30 days of its completion. Revenue from individual order may vary between $125000 to $175000. The Project Manager will not be required to do any planning or provide documentation other than daily Status. Which of the following is true:
- A.
  
  This is a Programme Management since multiple projects are involved.
- B.
  
  This is an Ongoing Work
- C.
  
  Since each order is of temporary endeavor, each order is project
- D.
  
  Orders incurring revenue over $125,000 will be considered as Project
Correct Answer
B. This is an Ongoing Work

Explanation
This is an ongoing work

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5.

Managing Project typically includes:
- A.
  
  Performance measurement, Communication and Human resource Management.
- B.
  
  Meeting requirements of Profit, Environment Protection, legal and cost.
- C.
  
  Managing levels of Administrative and Financial authority to facilitate project objectives.
- D.
  
  Balancing the competing project constraints including scope, quality, schedule, budget, resource, and risk
Correct Answer
D. Balancing the competing project constraints including scope, quality, schedule, budget, resource, and risk

Explanation
Managing project typically includes:
Identifying requirements
Addressing the various needs, concerns, and expectations of the stakeholders as the project is planned and carried out.
Balancing the competing project constraints including but not limited to:
Scope
Quality
Schedule
Budget
Resources, and
Risk (PMBOK Guide, page 8-9)

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6.

Collection of Projects and ongoing work managed in a coordinated way is ..........

Correct Answer
Sub-project
Program
Portfolios
project

Explanation
Collection of Projects and ongoing work managed in a coordinated way is program (PMBOK Guide p- )

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4
7.

Projects create deliverables which include all except:
- A.
  
  Product
- B.
  
  Results
- C.
  
  Services
- D.
  
  Activities
Correct Answer
D. Activities

Explanation
Projects create deliverables such as products, results, and services. These deliverables are tangible outcomes that are produced as a result of the project. However, activities are not considered deliverables. Activities refer to the tasks and actions that are performed during the project to achieve the desired outcomes. While activities are an essential part of the project, they are not considered deliverables themselves.

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8.

One of the goals of the portfolio management is to select carefully projects or programs that will
- A.
  
  Manage ongoing work directly
- B.
  
  Meet organization's strategic objectives
- C.
  
  Coordinate benefits of related projects
- D.
  
  Centralise management of a program
Correct Answer
B. Meet organization's strategic objectives

Explanation
Portfolios and projects are selected based on the organization's specific objectives

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9.

F Projects are created as a result of all of the following except
- A.
  
  Technological advancement
- B.
  
  Legal requirement
- C.
  
  Market demand
- D.
  
  Project manager's prior experience
Correct Answer
D. Project manager's prior experience

Explanation
Projects are not created solely based on the project manager's prior experience. While the project manager's experience may be a factor in determining the success of a project, it is not the sole reason for creating a project. Projects are typically initiated due to technological advancements, legal requirements, and market demand. These factors drive the need for new projects to be undertaken and are more influential in the decision-making process than the project manager's prior experience.

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10.

XY is one of the world's largest energy companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items. During the past year there had been complaint on its community services. It is therefore starting an awareness programme which comprises of a web site development, awareness on clean energy and development of health centers in low income area. All this come under category of :
- A.
  
  Program
- B.
  
  Project
- C.
  
  Portfolio
- D.
  
  Ongoing work
Correct Answer
C. Portfolio

Explanation
The given scenario describes XY's initiative to address complaints about its community services by implementing multiple projects. These projects include website development, raising awareness about clean energy, and establishing health centers in low-income areas. Since these projects are all part of a coordinated effort to achieve a common goal, they can be categorized as a portfolio. A portfolio refers to a collection of projects or programs managed together to achieve strategic objectives. In this case, the initiatives aim to improve XY's community services and address the complaints.

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PMP Exam Simulation On Key Concepts Of Project Management

Which of the following describes a project:

Which of the following brings together a set of tools and techniques used to describe, organize and monitor the work of project activities

Project Management is:

Managing Project typically includes:

Collection of Projects and ongoing work managed in a coordinated way is ..........

Projects create deliverables which include all except:

One of the goals of the portfolio management is to select carefully projects or programs that will

F Projects are created as a result of all of the following except