Project Management Components Flashcards
As a PMP candidate you must have a firm grasp on what constitutes a project. Which one of the following is not an attribute of a project?
A) Definite Start Date
B) Has no definite end date
C) Creates a product service or result
D) Requires Resources
B) Has no definite end date
You are a project manager for Johnson Keyboards, Inc. Your organization has adapted the PMBOK Guide as a standard tool for how projects should operate, and you are involved in shaping the standardization for all future projects. In light of this information, what is the recommended course of action for the processes and procedures in the PMBOK Guide?
A) Not all processes and procedures in the PMBOK Guide are required on all projects
B) All processes and procedures are to be followed as defined in the PMBOK Guide
C) Not all processes and procedures are needed unless the PMBOK Guide states the process or procedure is a requirement for the project type.
D) All processes and procedures are to be followed as identified in the PMBOK Guide; otherwise, the PMP is in violation of the PMP Code of Ethics and Professional Conduct
A) Not all processes and procedures in the PMBOK Guide are required on all projects
Not all information in the PMBOK Guide should be applied uniformly to all projects. It is the responsibility of the project management team to determine what practices are appropriate for each project.
Your organization is considering launching a new project. Robert, the CEO, wants to know what business value the proposed project will contribute. Which one of the following is not an example of business value consideration for a new project?
A) Return on Investment
B) New equipment
C) Skills obtained by doing the project
D) Risk assessments within the project
D) Risk assessments within the project
Risk assessments within the project is not a business value, but a project management activity. Risks can be positive or negative, but the assessment of the risk is not a business value element. Business value means that the project is contributing something positive for the organization.
You are explaining to a junior engineer the difference between a project and operations. Which one of the following is true only of operations?
A) They are performed by people
B) They are constrained by limited resources
C) They are ongoing
D) They are planned, executed and controlled
C) They are ongoing
Projects are temporary; they do not go on forever.
You are the project manager for your company, Mark Manufacturers. Your company has a large client that has requested a special component be created for one of their test engines. Your organization agrees and creates a standard contract with the customer, and your manager assigns you to manage this project. The project was launched because of which one of the following?
A) A customer request
B) A change in the technology your customer is creating
C) A legal requirement (contractural)
D) An organizational need
A) A customer request
This project was launched because the customer requested the new component.
Project managers are not responsible for which one of the following in most organizations?
A) Identifying the project requirements
B) Selecting the projects to be initiated
C) Balancing demands for time, cost, scope, and quality
D) Establishing clear and achievable project objectives
B) Selecting the projects to be initiated
Project managers typically do not select which projects are to be initiated. The project selection committee, customers, or project sponsors are typically responsible for this.
You and William, a project stakeholder, are discussing risks within your project. Which one of the following best describes risk?
A) Any event that can cause your project to fail
B) Any event that may have a positive or negative effect on your project’s team
C) An uncertain event that may have a positive or negative effect on your project
D) An event that will cause time and cost constraints to be broken
C) An uncertain event that may have a positive or negative effect on your project
You are the project manager for a large software development project. You have concerns that one of the components of the Iron Triangle is slipping. Your project sponsor, Jim Bob, is not familiar with the Iron Triangle, so you explain the concept to him. What will be affected if any angle of the Iron Triangle is not kept in balance?
A) Cost
B) Quality
C) Time
D) Scope
B) Quality
A, C, and D are incorrect because these are the three sides of the Iron Triangle. These three sides must be kept in balance or quality will suffer.
Which knowledge area includes the creation of the project charter?
A) Project Scope Management
B) Project Cost Management
C) Project Integration Management
D) Project Communication Management
C) Project Integration Management
Project integration management, which focuses on the coordination of all components of project management, includes the development of the project charter.
Beth is a project manager and she’s working with Karen the program manager. There is some disagreement about the project management methodology Karen is requiring all project managers to operate by. Who has authority over this decision in this scenario?
A) Project Sponsor
B) Karen, as she is the program manager
C) Beth, as she is the project manager
D) Beth, as each project can select the appropriate project management methodology regardless of the program
B) Karen, as she is the program manager
Karen, the program manager, oversees the project managers and the approach they’ll take in managing their individual projects.
Which one of the following is an example of a project life cycle phase?
A) Framing
B) Phase gate review
C) Project Quality Managment
D) Executing
A) Framing
Of all the choices presented only framing is a project life cycle phase. A life cycle phase is unique to a project and shows the type of work and expected deliverables achieved within that phase.
Project quality management is a knowledge area, not a phase.
Phase gate reviews happen at the end of a phase.
Executing is a process group.
Smith Construction has won a contract to build a 77-story condominium building in downtown Chicago. The building will have 650 condos, a parking garage, indoor and outdoor pools, two floors for retail, two floors of offices, and several shared community rooms. Mary Anne Kedzie has elected to create a program for the creation of the building. Which one of the following best describes a program?
A) A standard approach to project management within an organization
B) A standardized approach to project management with multiple projects coordinated together
C) A collection of related projects managed in coordination to gain control that would not necessarily be available if the projects were managed independently
D) A collection of related projects, all contributing to on deliverable
C) A collection of related projects managed in coordination to gain control that would not necessarily be available if the projects were managed independently
A program is a collection of related projects managed and coordinated to gain a higher level of control.
Which one of the following statements best defines the difference between a program and portfolios in regard to scope?
A) Programs do not have scopes because they are made up of projects. Portfolios have an organizational scope
B) Programs have larger scopes than projects. Portfolios have an organizational scope
C) Programs have larger scopes than projects. Portfolios don’t have scopes because they are a financial investment
D) Programs and portfolios can share the same scope because a portfolio may have two or more programs
B) Programs have larger scopes than projects. Portfolios have an organizational scope
Portfolios have an organizational scope that reflects the strategic goals of the organization. Programs have larger scopes than projects and may be part of portfolios.
Who is usually responsible for portfolio management within an organization?
A) Project managers
B) Project sponsors
C) Stakeholders
D) Senior management
D) Senior management
You are the project manager of a large project to install 1900 kiosks throughout college campuses in North America. The kiosks will collect applications for credit cards, phone services, and other services marketable to college students. The bulk of your project is focused on the information technology integration, the wide area network (WAN) connections from each kiosk, security of the data transferred, and the database of the information gathered. For ease of management, you have hired local contractors to install the kiosks that you will ship to each campus. The contractors on each campus will be responsible for the WAN connection, the electrical connection, the security of the kiosk, and all testing. The local contracted work could be called what?
A) Risk mitigation
B) Operations
C) Subprojects
D) Management by projects
C) Subprojects
This is the best answer because work that is subcontracted out for ease of management, as in this situation, becomes a subproject.
There are several different project life cycle approaches you’ll need to know and be familiar with on your PMP exam. Which life cycle approach defines the project scope, timeline, and project costs early in the project?
A) Predictive
B) Iterative
C) Incremental
D) Adaptive
A) Predictive
The predictive approach requires the project scope, the project time, and project costs to be defined early in the project timeline. Predictive life cycles have predefined phases, where each phase completes a specific type of work and usually overlaps other phases in the project.
Which of the following is likely to be part of an operation?
A) Providing electricity to a community
B) Designing an electrical grid for a new community
C) Building a new dam as a source for electricity
D) Informing the public about changes at the electrical company
A) Providing electricity to a community
An electrical company’s primary operation is to provide electricity.
Of the following, which one is not part of project integration management?
A) The creation of the project plan
B) The interaction between project teams
C) The execution of the project plan
D) The documentation of changes to the project plan
B) The interaction between project teams
Project integration management focuses on the project plan and its implementation, not the interaction between project teams. Although B could, in some instances, be considered accurate if the project plan had some interaction with other project teams, the assumption cannot be made in this question.
You are the project manager for the Fixture Installation Project in your organization. You’ve just completed the second of three phases. What event will happen next?
A) Phase gate review
B) Initiating of the third phase
C) Project quality management activities
D) Phase closure
A) Phase gate review
Phase gate reviews happen at the end of each project phase and before the next phase will begin. These are opportunity to review the project work so far and to confirm that the project can and should move forward.
You are a new project manager in a company that uses a project management office. A new technology has been released in the marketplace that will supersede the technology your project is implementing. There are doubts that the project should continue. Martin, a member of the project management office is considering the amount of funds already invested in the project. What term is given to the monies you’ve already spent in the project?
A) Capital losses
B) Return on investment
C) Sunk costs
D) In the red
C) Sunk costs
Sunk costs describe the funds already “sunk” into a project – and they should not be considered when determining if the project should move forward or not.
What term best describes the raw data of a project, such as number of change requests and actual duration?
A) Project data outcomes
B) Work performance information
D) Work performance reports
C) Work performance data
Work performance data is the raw data and facts about the project C) Work performance datawork.
The project manager typically devotes the most amount of time to which of the following tasks?
A) Communications
B) Budget Management
C) Project organization
D) Management of team negotiations
A) Communications
It’s been said that project managers spend 90 percent of their time communicating.
You have an excellent idea for a new project that can increase productivity by 20 percent in your organization. Management, however, declines to approve the proposed project because too many resources are already devoted to other projects. You have just experienced what?
A) Parametric modeling
B) Management by exception
C) Project portfolio management
D) Management reserve
C) Project portfolio management
Project portfolio management is the process of choosing and prioritizing projects within an organization. An excellent project idea can still be denied if there aren’t enough resources to complete the project work.
Of the following, which is the most important stakeholder involved with a project?
A) The project manager
B) The project sponsor
C) The CEO
D) The customer
D) The customer
Customers, internal or external, are the most important stakeholders in a project.
