Project Management 101 Quiz: Exam!

The correct answer is "Initiating, Planning, Executing, Monitoring and Controlling, and Closing." This answer aligns with the generally accepted five Project Management Process Groups. Initiating involves defining the project's purpose and scope. Planning involves creating a detailed plan for project execution. Executing involves carrying out the plan and completing project work. Monitoring and Controlling involves tracking project progress and making necessary adjustments. Closing involves formally completing the project and ensuring all project deliverables are met.

The critical path refers to the sequence of activities that must be completed on time in order to prevent a delay in the overall project schedule. It is the longest path through the project network diagram and determines the minimum amount of time required to complete the project. Any delay in activities on the critical path will directly impact the project's timeline. Therefore, the critical path is crucial for project managers to identify and manage in order to ensure timely project completion.

The executing process in a project involves the actual implementation of the project plan. This includes carrying out the tasks, coordinating resources, and managing the project team. The executing process typically requires a significant amount of resources, such as labor, materials, and equipment, which can contribute to a major portion of the project budget. Additionally, unforeseen issues or changes that arise during the execution phase may require additional expenses, further impacting the budget. Therefore, the executing process is likely to use up most of the budget in a project.

A change control board is a formally constituted group of stakeholders responsible for reviewing, evaluating, approving, delaying or rejecting changes to the project, with all decisions and recommendations being recorded. This group is responsible for minimizing the number of approved changes and ensuring that all changes are properly evaluated before implementation. They play a crucial role in maintaining control over project changes and ensuring that any modifications align with project objectives and requirements. The recording of decisions and recommendations helps in maintaining transparency and accountability within the change control process.

The correct answer is project plan execution. This is because project plan execution is the phase where the majority of the project budget is utilized. During this phase, the project activities are carried out, resources are allocated, and tasks are completed. It involves the actual implementation of the project plan and the achievement of project deliverables. Therefore, it is expected that a significant portion of the project budget will be spent during this phase.

Moving resources from a non-critical task to a critical path task would allow the project to be delivered on time. By reallocating resources to the critical path, which includes the tasks that directly impact the project's timeline, the team can ensure that the most important tasks are completed promptly. This adjustment helps prioritize the necessary activities and reduces the risk of further delays.

The correct answer is "Integrating" because it is not one of the five process groups defined in project management. The five process groups are Initiating, Planning, Executing, Monitoring and Controlling, and Closing. "Integrating" is not a separate process group but rather a function that is carried out throughout the entire project lifecycle to ensure coordination and synchronization of all project processes and activities.

Cleaning the office building every day is not an example of a project because it is a repetitive and ongoing task that does not have a specific end goal or deliverable. Projects are temporary endeavors with defined objectives, start and end dates, and unique outcomes. In contrast, buying clothes from the market on a special sale, planning for a friend's wedding, and building a bridge across the Amazon river are all examples of projects as they have specific goals, timelines, and distinct outcomes.

RACI is an acronym that stands for Responsible, Accountable, Consulted, Inform. This is a framework used in project management to define and clarify roles and responsibilities within a team or organization. The responsible person is the one who completes the task, the accountable person is the one who ultimately owns the task and ensures it is completed, the consulted person is someone who provides input or advice, and the informed person is someone who needs to be kept updated on the progress of the task. This framework helps to establish clear communication and avoid confusion or duplication of efforts.

In project management, a lag refers to a delay or waiting time between the finish of one activity and the start of its successor activity. This means that the successor activity cannot start immediately after the completion of the previous activity. Instead, there is a period of time that needs to elapse before the successor activity can begin. Therefore, the correct answer is "Lag" as it accurately reflects the situation described in the question.

The given answer is correct because it states that risk and uncertainty are highest at the end of the project. This is not a common characteristic of project life cycle descriptions. In general, risk and uncertainty are highest at the beginning of a project when there is limited information and planning, and they decrease as the project progresses and more information becomes available. At the end of the project, most of the uncertainties have been resolved and the risks have been mitigated, resulting in lower levels of risk and uncertainty.

The critical path in a schedule network refers to the sequence of activities that takes the longest time to complete. It is the path that determines the overall duration of the project and any delay in activities along this path will directly impact the project's timeline. Activities on the critical path must be completed in order to avoid project delays, as any delay in these activities will result in a delay in the project's completion. Therefore, the correct answer is "Takes the longest time to complete."

The mean using the PERT technique is calculated by taking the weighted average of the optimistic, most likely, and pessimistic estimates. The formula for calculating the mean is (optimistic + 4 * most likely + pessimistic) / 6. In this case, the optimistic estimate is 12 days, the most likely estimate is 15 days, and the pessimistic estimate is 24 days. Plugging these values into the formula, we get (12 + 4 * 15 + 24) / 6 = 16 days.

When estimating time for activities, it is important for a Project Manager to involve the people who will be doing the work to get estimates. This is because the individuals who will be performing the tasks are likely to have the most accurate understanding of the time required. By involving them in the estimation process, the Project Manager can gather their insights and expertise, leading to more realistic and reliable estimates. This approach also promotes better communication and collaboration within the project team, increasing the chances of successful project execution.

The Change Control Board is responsible for approving or denying change requests in a project. This board consists of key stakeholders and decision-makers who assess the impact of the proposed changes on the project's scope, schedule, budget, and overall objectives. They have the authority to approve or deny change requests based on their evaluation of the potential risks, benefits, and alignment with the project's goals. The Project Manager, Customer, and Project Sponsor may provide input and recommendations to the Change Control Board, but the final decision lies with the board.

Using an integrated change control process throughout the project is suggested because it ensures that any changes to the project are properly evaluated, approved, and implemented. This process allows for a systematic and controlled approach to managing changes, minimizing the risks associated with changes and ensuring that they align with the project objectives. By implementing integrated change control throughout the project, the project team can effectively track and manage changes, ensuring that they are properly documented, reviewed, and approved before being implemented. This helps to maintain project scope, schedule, and budget, and ensures that changes are properly integrated into the project plan.

The correct answer is that risk identification happens in all the phases of the project. This means that throughout the entire project lifecycle, risks are continually being identified and assessed. It is an ongoing process that helps project managers and teams to proactively manage and mitigate potential risks that may arise. By identifying risks early on, they can be properly addressed and managed, reducing the likelihood of negative impacts on the project's success.

Crashing is a technique used in project management to accelerate the project schedule by adding additional resources to the critical path. By doing so, the project manager aims to reduce the overall project duration and bring it back on schedule. This involves allocating more resources, such as manpower or equipment, to critical activities in order to expedite their completion. It is a common approach when the project is running behind schedule and there is a need to meet strict deadlines.

The correct answer is Parametric. Parametric estimation is a technique that uses a statistical relationship between historical data and other variables to estimate the duration or cost of a project. In this case, the estimator is using the information that it takes two hours to paint one square foot of wall and applying it to estimate the time to paint the entire wall, which has an area of 30 square foot. This is an example of parametric estimation because it is based on a parameter or a statistical relationship.

The team is involved in risk identification because they are reviewing lessons learned from previous projects. This suggests that they are analyzing past projects to identify potential risks and develop strategies to mitigate them in future projects. This activity is crucial for effective risk management and ensuring project success.

As a project manager in a projectized organization, your level of authority is described as high to almost total. This means that you have significant decision-making power and control over the project. You have the authority to make important project-related decisions, allocate resources, and manage the project team. Your authority extends almost to the point of having complete control over the project, although there may still be some limitations or oversight from higher-level management.

The project life cycle is documented in the Planning process group. This is because the planning process group is responsible for defining the project objectives, determining the project scope, and developing the project management plan. As part of this planning, the project life cycle is documented to provide a framework for how the project will progress from initiation to completion. The project life cycle outlines the phases or stages that the project will go through, including the activities and deliverables associated with each phase.

An assumption is a factor in the planning process that is considered to be true, real, or certain without proof or demonstration. It is a belief or statement that is taken for granted or accepted as true, even though it may not be proven or demonstrated. Assumptions play a crucial role in the planning process as they help in making decisions and setting goals based on certain beliefs or expectations. They provide a foundation for the planning process and guide the actions and strategies that are implemented.

The key features of a project management office (PMO) generally include the identification and development of project management methodology, best practices, and standards. They also include a centralized repository and management for both shared and unique risks for all projects. Additionally, a PMO typically serves as a mentoring platform for project managers. However, delivering specific project objectives and controlling the assigned project resources to best meet objectives of the project is not typically considered a key feature of a PMO.

Analogous estimating is the practice of estimating the duration of a task by comparing it to similar activities that have been completed in the past. This method relies on historical data and assumes that tasks with similar characteristics will have similar durations. It is a quick and simple way to estimate task durations when detailed information is not available. Parametric estimating, on the other hand, involves using statistical relationships and mathematical models to estimate task durations. Estimating by extension and history-based estimating are not commonly used terms in project management.

The cost of changes in requirements tends to increase as the project starts up and progresses because as the project moves forward, it becomes more difficult and costly to make changes. Early in the project, changes can be implemented more easily and at a lower cost. However, as the project progresses and more work is completed based on the initial requirements, any changes will require rework, adjustments, and potentially additional resources, leading to increased costs. Therefore, the cost of changes in requirements tends to increase as the project moves forward.

Rolling Wave Planning is a form of progressive elaboration where work in the future distance is planned at a high level on the work breakdown structure (WBS), while work in the near future is planned in detail at a low level on the WBS. This approach allows for flexibility and adaptability as more information becomes available closer to the execution of the work. It recognizes that detailed planning too far in advance may not be accurate or feasible, and instead focuses on planning in waves, with more detailed planning occurring as the project progresses.

The PMBOK® Guide is considered the standard for managing most projects most of the time. It provides a comprehensive framework and best practices for project management, covering various aspects such as initiating, planning, executing, monitoring, and closing projects. While it may not be applicable to every single project or in every situation, it is widely recognized and used in the project management field to ensure successful project outcomes.

A limiting factor that affects the execution of a project, program, portfolio, or process is called a constraint. Constraints can be external or internal factors that restrict the progress or completion of a project. They can include limitations in resources, time, budget, scope, or even regulatory requirements. Constraints play a crucial role in project management as they help define the boundaries within which the project must operate and guide decision-making processes. By identifying and managing constraints effectively, project managers can optimize project outcomes and ensure successful execution.

In the executing process group, the project team is actively working on the project deliverables and performing the planned activities. This is the phase where team building activities take place as the team members collaborate, communicate, and establish effective working relationships. It is during this phase that the team members get to know each other, understand their roles and responsibilities, and build trust and rapport. Therefore, team building is performed in the executing process group.