Quiz: Important Concepts About Project Management

51 Questions | Total Attempts: 260

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Quiz: Important Concepts About Project Management

Do you know some of the important concepts of project management? If you are getting ready to sit for a project management exam, you are in luck as the question below is designed to help you with project management from the planning to the presentation stage. Give it a try and get to refresh your understanding!


Questions and Answers
  • 1. 
    Risks will be identified during which risk management process (es)?
    • A. 

      Perform Quantitative Risk Analysis and Identify Risks

    • B. 

      Identify Risks and Control Risks

    • C. 

      Perform Qualitative Risk Analysis and Control Risks

    • D. 

      Identify Risks

  • 2. 
    The highest point of Maslow's hierarchy of needs is:
    • A. 

      Physiological satisfaction

    • B. 

      Attainment of survival

    • C. 

      Self-actualization

    • D. 

      Esteem

  • 3. 
     If earned value (EV) = 350, actual cost (AC) = 400, planned value (PV) = 325, what is cost variance (CV)? 
    • A. 

      350

    • B. 

      -75

    • C. 

      450

    • D. 

      -50

  • 4. 
    Who is ultimately responsible for quality management on the project?
    • A. 

      Project engineer

    • B. 

      Project manager

    • C. 

      Quality manager

    • D. 

      Team member

  • 5. 
    In the context of estimation, a heuristic is best described as a::
    • A. 

      Control tool

    • B. 

      Rule of thumb.

    • C. 

      Scheduling method

    • D. 

      Planning tool.

  • 6. 
    A project manager has just been assigned to a new project and has been given the preliminary project scope statement and the project charter. The first thing the project manager must do is:
    • A. 

      Create a project scope statement.

    • B. 

      Confirm that all the stakeholders have contributed to the scope.

    • C. 

      Analyze project risk.

    • D. 

      Begin work on a project management plan.

  • 7. 
    You are taking over a project during the planning process group and discover that six individuals have signed the project charter. Which of the following should most concern you?
    • A. 

      Who will be a member of the change control board

    • B. 

      Spending more time on configuration management

    • C. 

      Getting a single project sponsor

    • D. 

      Determining the reporting structure

  • 8. 
    The project manager is making sure that the product of the project has been completed according to the project management plan. What part of the project management process is he in?
    • A. 

      Planning

    • B. 

      Executing

    • C. 

      Monitoring and controlling

    • D. 

      Closing

  • 9. 
    The WBS and WBS dictionary are completed. The project team has begun working on identifying risks. The sponsor contacts the project manager, requesting that the responsibility assignment matrix be issued. The project has a budget of U.S. $loo,ooo and is taking place in three countries using 14 human resources. There is little risk expected for the project and the project manager has managed many projects similar to this one. What is the next thing to do?
    • A. 

      Understand the experience of the sponsor on similar projects

    • B. 

      Create an activity list.

    • C. 

      Make sure the project scope is defined.

    • D. 

      Complete risk management and issue the responsibility assignment matrix

  • 10. 
    A project manager is employed by a construction company and is responsible for the furnishing of the completed building. One of the first things that the project manager for this project should do is to write a:
    • A. 

      Work breakdown structure.

    • B. 

      Budget baseline.

    • C. 

      Project charter.

    • D. 

      Project plan

  • 11. 
    A cost performance index (CPI) of 0.89 means
    • A. 

      At this time, we expect the total project to cost 89 percent more than planned.

    • B. 

      When the project is completed we will have spent 89 percent more than planned

    • C. 

      the project is only progressing at 89 percent of that planned.

    • D. 

      the project is only getting 89 cents out of every dollar invested.

  • 12. 
    In a matrix organization, which of the following is true??
    • A. 

      The project manager is responsible for employee skills improvement.

    • B. 

      The functional manager is responsible for employee skills improvement

    • C. 

      The project manager is responsible for the employee.s annual appraisa

    • D. 

      The employee is responsible for his or her own skills improvement.

  • 13. 
    The project management process groups are:
    • A. 

      Initiating, planning, expediting, and control.

    • B. 

      Plan, organize, develop, and control.

    • C. 

      Plan, do, observe, commit.

    • D. 

      Initiating, planning, executing, monitoring &controlling, and closing.

  • 14. 
    A person who is involved in or may be affected by the activities or anyone who has something to gain or lose by the activity of the project is called a:
    • A. 

      Team member.

    • B. 

      Customer

    • C. 

      Stakeholder

    • D. 

      Supporter

  • 15. 
    Quality is:
    • A. 

      Meeting and exceeding the customer's expectations.

    • B. 

      Adding extras to make the customer happy.

    • C. 

      The degree to which the inherent characteristics fulfill requirements.

    • D. 

      Conformance to management's objectives.

  • 16. 
    A schedule performance index (SPI) of 0.76 means:
    • A. 

      You are over budget.

    • B. 

      you are ahead of schedule.

    • C. 

      You are only progressing at 76 percent of the rate originally planned.

    • D. 

      You are only progressing at 24 percent of the rate originally planned.

  • 17. 
    A temporary endeavor undertaken to create a new product or service is called a:
    • A. 

      New product development.

    • B. 

      Project

    • C. 

      Product

    • D. 

      Enterprise

  • 18. 
    An example of scope validation is:
    • A. 

      Reviewing the performance of an installed software module.

    • B. 

      Managing changes to the project schedule.

    • C. 

      Decomposing the WBS to a work package level.

    • D. 

      Performing a benefit-cost analysis to determine if we should proceed.

  • 19. 
    Approved Change Requests are an input to:
    • A. 

      Control Scope and Validate Scope.

    • B. 

      Direct and Manage Project Work.

    • C. 

      Develop project management plan and develop project charter.

    • D. 

      Develop Project Management Plan and Develop Schedule.

  • 20. 
    A group of related projects that are managed in a coordinated way that usually include an element of ongoing activity is called a:
    • A. 

      Major Project

    • B. 

      Project Office

    • C. 

      Program

    • D. 

      Group of Project

  • 21. 
    To control the schedule, a project manager is reanalyzing the project to predict project duration. She does this by analyzing the sequence of activities with the least amount of scheduling flexibility. What technique is she using?
    • A. 

      Critical path method

    • B. 

      Flowchart

    • C. 

      Precedence diagramming

    • D. 

      Work breakdown structure

  • 22. 
    A project manager has assembled the project team, identified 56 risks on the project, determined what would trigger the risks, rated them on a risk rating matrix, tested their assumptions and assessed the quality of the data used. The team is continuing to move through the risk management process. What has the project manager forgotten to do?
    • A. 

      Simulation

    • B. 

      Risk Mitigation

    • C. 

      Overall risk ranking for the project

    • D. 

      Involving of other stakeholders

  • 23. 
    Configuration management plan is:
    • A. 

      Used to ensure that the description of the project product is correct and complete.

    • B. 

      The creation of the work breakdown structure.

    • C. 

      The set of procedures developed to control changes.

    • D. 

      A mechanism to track budget and schedule variances.

  • 24. 
    A rough order of magnitude estimate is made during which project management process group?
    • A. 

      Project planning

    • B. 

      Project closing

    • C. 

      Project execution

    • D. 

      Project initiating

  • 25. 
    The work defined at the lowest level of the breakdown structure to estimate as well as manage time and cost is called the:
    • A. 

      Activity

    • B. 

      Task

    • C. 

      Work Package

    • D. 

      Cost Account

  • 26. 
    A project manager has just been assigned to a project. The document that recognizes the existence of the project is called:
    • A. 

      The statement of work.

    • B. 

      The project assignment.

    • C. 

      The project charter.

    • D. 

      The project charter.

  • 27. 
    The WBS for the project represents:
    • A. 

      All the tangible items that must be delivered to the client.

    • B. 

      All the work that must be completed for the project.

    • C. 

      The work that must be performed by the project team.

    • D. 

      All the activities of the project.

  • 28. 
    Find the CPM 
    • A. 

      14

    • B. 

      9

    • C. 

      16

    • D. 

      15

  • 29. 
    Calculate NPV, Payback and ROI
    • A. 

      NPV = 2994, ROI = 24% Payback = 5

    • B. 

      NPV = 155339, ROI = 24% Payback = 4

    • C. 

      NPV = 155339, ROI = 24% Payback = 6

    • D. 

      NPV = 155339, ROI = 24% Payback = 5

  • 30. 
    Define Triple Constraints in Project Management
  • 31. 
    Various parameters that affect the project in its planning and formulation refers to
    • A. 

      Project Cost

    • B. 

      Process

    • C. 

      Resources

    • D. 

      Project Scope

  • 32. 
    That which is responsible for changing the input and giving a desired output is a 
    • A. 

      Project Cost

    • B. 

      Resources

    • C. 

      Process

    • D. 

      Project Scope

  • 33. 
    That which formalizes acceptance and brings project to an orderly end is a 
    • A. 

      Control

    • B. 

      Planning

    • C. 

      Execution

    • D. 

      Closing

  • 34. 
    During the course of executing the project, it is seen that the _______ requirement increases from start to an intermediate stage of the project
    • A. 

      Equipment

    • B. 

      Resource

    • C. 

      Design

    • D. 

      Man Power

  • 35. 
    The _____ the project can be estimated based upon the normal distribution curve.  
    • A. 

      Man Power requirement

    • B. 

      Fund requirement

    • C. 

      Probability of completion of

    • D. 

      Design requirement of

  • 36. 
    The project during the course of its progress may be subjected to _________ because of some external factors.
    • A. 

      Change

    • B. 

      Error

    • C. 

      Pressure

    • D. 

      Threats

  • 37. 
    Project mindset lays emphasis on flexible
    • A. 

      People

    • B. 

      Timing

    • C. 

      Resource

    • D. 

      Process

  • 38. 
    Allow information, questions, comments and opinions to travel through the organization is an essential characteristic of a typical ______ network  
    • A. 

      Communication

    • B. 

      Information

    • C. 

      Neural

    • D. 

      Organization

  • 39. 
    Overcoming barriers to communication associated with differing perceptions of the recipients in different divisions location or parts of a unit, is an essential characteristics of a typical _____ network.
    • A. 

      Neural

    • B. 

      Information

    • C. 

      Communication

    • D. 

      Organization

  • 40. 
    ………of the organization should be the navigator for the project.
    • A. 

      Manager

    • B. 

      CEO

    • C. 

      Strategy

    • D. 

      Policy

  • 41. 
    The project manager should take the assistance of a___________ and run checks as frequently as possible
    • A. 

      System Administrator

    • B. 

      CEO

    • C. 

      Coordinator

    • D. 

      Project Team

  • 42. 
    ________helps in resetting the goals when they cannot be achieved for various reasons — shortage of resources, time etc
    • A. 

      Plan

    • B. 

      Guidelines

    • C. 

      Review

    • D. 

      Analysis

  • 43. 
    _________ is the process by which employees are encouraged to take decisions pertaining to their area of work.
    • A. 

      Automation

    • B. 

      Empowerment

    • C. 

      Authorization

    • D. 

      Delegation

  • 44. 
    A system of internal ________ gets initiated almost automatically resulting in highly efficient organizaton as a whole.   
    • A. 

      Auditing

    • B. 

      Verification

    • C. 

      Validation

    • D. 

      Benchmarking

  • 45. 
    Change is achieved by making — changes
    • A. 

      Small

    • B. 

      Big

    • C. 

      Incremental

    • D. 

      Detrimental

  • 46. 
    The principle of continuous improvement is seen in ______ 
    • A. 

      PM

    • B. 

      PMIS

    • C. 

      ERP

    • D. 

      TQM

  • 47. 
    Risk management is ______ for projects, and can help reduce your costs and efforts when trouble strikes.
    • A. 

      Helpful

    • B. 

      Essential

    • C. 

      Insurance

    • D. 

      Beneficial

  • 48. 
    What broad term described the following people in relation to your project? Your university, your participants, anyone who may be affected by the results of your research, the ethics committee.
    • A. 

      Subject

    • B. 

      Gatekeeper

    • C. 

      Collaborator

    • D. 

      Stakeholder

  • 49. 
    Which of the following are good general rules to follow in your dealings with project stakeholders?
    • A. 

      Don’t assume, ask.

    • B. 

      Divert attention away from any concerns about your project

    • C. 

      Tell external stakeholders less about your project than internal stakeholders

    • D. 

      All of the Above

  • 50. 
    Which of the following are essential components of a GANTT chart used to plan your project?
    • A. 

      Your home telephone number

    • B. 

      Your supervisor’s home telephone number

    • C. 

      The email address for the chair of the ethics committee

    • D. 

      None of the above

  • 51. 
    Which of the following are risks to your project that you can take steps to manage?
    • A. 

      The photocopier breaking down

    • B. 

      Running out of ink for your printer

    • C. 

      Your computer crashing

    • D. 

      All of the above