Lecture 1

Question 1

A _________ is a temporary endeavor undertaken to create a unique product, service, or result.

Answer 1

project

Question 2

T/F: Projects drive change.

Answer 2

T

Question 3

T/F: Projects enable business value creation.

Answer 3

T

Question 4

T/F: Project has an initiation context such as to meet regulatory, local, or social requirements.

Answer 4

T

Question 5

T/F: The project end is not reached when project objectives has been achieved.

Answer 5

F, projecg end is reached.

Question 6

Projects can be (1) _______ when the need for the project no longer exists. They can also be (2) _______ due to a change in strategy or feasibility.

Answer 6

(1) stopped
(2) terminated

Question 7

___________ is the application of knowledge, skills, tools and technique to project activities to meet project requirements.

Answer 7

Project Management

Question 8

______________ helps individuals, groups, and public and private organizations to Meet business objectives, Satisfy stakeholder expectations, Increase chances of success, Deliver the right products at the right time, etc.

Answer 8

Effective project management

Question 9

____________ projects or the absence of _____________ may result in Missed deadlines, Cost overruns, Poor quality, Rework, Unsatisfied stakeholders, and Loss of reputation for the organization.

Answer 9

Poorly managed, project management

Question 10

__________ is a group of related projects, subprograms, and program activities managed in a coordinated way.

Answer 10

Program

Question 11

________ is useful to obtain benefit and control over the projects under a program which is not obtainable from managing them separately.

Answer 11

Program

Question 12

___________ is a collection of projects, programs, sub portfolios, and operations managed as a group to achieve strategic objective.

Answer 12

Portfolio

Question 13

An _____________ is an on-going endeavors that produce repetitive outputs, with resources assigned to perform same set of tasks according to standards institutionalized in a product life cycle.

Answer 13

Operation

Question 14

_________ is the series of phases that a project passes through from its start to its completion

Answer 14

Project Life Cycle

Question 15

The project scope, time, and cost are determined in the early phases of the life cycle in a __________ Life Cycle.

Answer 15

Predictive

Question 16

T/F: Any changes to the scope are carefully managed in a predictive life cycle.

Answer 16

T