1.
Which of the following describes a project:
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)
2.
Which of the following brings together a set of tools and techniques used to describe, organize and monitor the work of project activities
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.
3.
Project Management is:
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
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:
Correct Answer
B. This is an Ongoing Work
Explanation
This is an ongoing work
5.
Managing Project typically includes:
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)
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- )
7.
Projects create deliverables which include all except:
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.
8.
One of the goals of the portfolio management is to select carefully projects or programs that will
Correct Answer
B. Meet organization's strategic objectives
Explanation
Portfolios and projects are selected based on the organization's specific objectives
9.
F Projects are created as a result of all of the following except
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.
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 :
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.