Project Management Quiz Example From Joe Gartrell, Inc.

1. Fixed price contracts are generally used when

Seller needs to maximize profits.

The scope of work is clear and the deliverables are direct and very easy to understand.

The scope of work is unclear and the deliverables vary and are difficult to understand.

All of the above.

The seller bears the bulk of the risk in a fixed price situation; it should only be used when the project is clear and straightforward with little risk of cost and schedule overruns.

Explanation

The seller bears the bulk of the risk in a fixed price situation; it should only be used when the project is clear and straightforward with little risk of cost and schedule overruns.

2. The project budget

Is completed before the WBS is created.

Should be aligned, aggregated, and reconciled at the WBS level.

Only accounts for fixed costs.

All of the above.

Project budgets should account for all costs, but some large organizations only account for labor costs. Budgets are most accurate and manageable when estimated at the activity level and then rolled up into an aggregate budget.

Explanation

Project budgets should account for all costs, but some large organizations only account for labor costs. Budgets are most accurate and manageable when estimated at the activity level and then rolled up into an aggregate budget.

3. If EVA analysis indicates the SPI is .90 and the CPI is 1.05, this means

Project is ahead of schedule, but is over budget.

The project is behind schedule, but is under budget.

The project is behind schedule, but on budget.

All of the above.

In EVA, with the exception of one index (not these), below 1.00 is bad and above 1.00 is good. An index of 1.00 would mean exactly on schedule or on budget.

Explanation

In EVA, with the exception of one index (not these), below 1.00 is bad and above 1.00 is good. An index of 1.00 would mean exactly on schedule or on budget.

4. Quality assurance should be thought of as

A monitoring function.

A process improvement activity

A closing function.

All of the above.

Most organizations, especially large organizations, get this wrong. They treat quality assurance as a lifecycle policing function rather than a process improvement function. Unless a function brings value to the final deliverable (or is required for regulatory or compliance purposes), it should be re-assessed and considered for elimination.

Explanation

Most organizations, especially large organizations, get this wrong. They treat quality assurance as a lifecycle policing function rather than a process improvement function. Unless a function brings value to the final deliverable (or is required for regulatory or compliance purposes), it should be re-assessed and considered for elimination.

5. Project execution is centered on

The project schedule.

The project budget.

Completing the work packages.

All of the above.

The execution phase is about completing the work. The schedule and budget are completed during the planning phase, but are re-visited often during the life of the project.

Explanation

The execution phase is about completing the work. The schedule and budget are completed during the planning phase, but are re-visited often during the life of the project.

6. Project management is

A sub-set of management proper.

A profession.

Self terminating.

All of the above.

Project management encompasses the skills of "management" in addition to a specific body of knowledge for project management. It is a credentialed profession and by definition is self terminating.

Explanation

Project management encompasses the skills of "management" in addition to a specific body of knowledge for project management. It is a credentialed profession and by definition is self terminating.

7. The critical path

Is comprised of a set, or combination of activities, any of which can be delayed.

Is the path in the project schedule with the highest risk.

Is the set of activities that comprise the longest path of any combination of dependent activities.

All of the above.

There is no slack in the critical path. If any activity on the critical path falls behind or is completed behind schedule, the critical path is affected, thus the entire project schedule is affected. The critical path also denotes the longest path through a project.

Explanation

There is no slack in the critical path. If any activity on the critical path falls behind or is completed behind schedule, the critical path is affected, thus the entire project schedule is affected. The critical path also denotes the longest path through a project.

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8. The business case should allow decision makers to know

That the issues have been thoughtfully considered and vetted.

That the value of the project is properly measured against the risks.

The roles and responsibilities of key project personnel.

All of the above.

The business case usually precedes all project planning activities, thus most key project personnel won't be known at the time.

Explanation

The business case usually precedes all project planning activities, thus most key project personnel won't be known at the time.

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9. Verify scope is

The same as perform quality control.

A check for completion against the requirements.

The final product acceptance by the project manager, customer, sponsor(s), and major stakeholders.

All of the above.

Verify scope is the acceptance of the deliverable as complete per the requirements.

Explanation

Verify scope is the acceptance of the deliverable as complete per the requirements.

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10. The change control committee

Should be made up of project management professionals only.

All of the above.

A change control committee approves changes based on the project scope as it exists. The change control process is a major line of defense against scope creep.

Explanation

A change control committee approves changes based on the project scope as it exists. The change control process is a major line of defense against scope creep.

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