Project Management Concepts Flashcards
What is the primary purpose of project management?
To ensure that a project is completed on time, within budget, and meets the specified requirements.
True or False: A project is a temporary endeavor undertaken to create a unique product, service, or result.
True
Fill in the blank: The five process groups in project management are ______, Planning, Executing, Monitoring and Controlling, and Closing.
Initiating
What is a project stakeholder?
Any individual or group that has an interest in the outcome of a project.
Multiple Choice: Which of the following is NOT a project constraint? A) Scope B) Time C) Quality D) Profit
D) Profit
What is a Work Breakdown Structure (WBS)?
A hierarchical decomposition of the total scope of work to accomplish the project objectives.
True or False: Risk management is only important during the planning phase of a project.
False
What does the acronym SMART stand for in project objectives?
Specific, Measurable, Achievable, Relevant, Time-bound
What is the purpose of a project charter?
To formally authorize a project and outline its objectives, scope, and stakeholders.
Multiple Choice: What is the main focus of the Execution process group? A) Planning B) Implementing project plans C) Closing projects D) Identifying risks
B) Implementing project plans
What is the role of a project manager?
To lead the project team and ensure project objectives are met.
Fill in the blank: A ______ is a graphical representation of a project schedule, showing the start and finish dates of elements.
Gantt chart
True or False: The triple constraint in project management refers to scope, time, and cost.
True
What is stakeholder analysis?
The process of identifying project stakeholders and understanding their needs and expectations.
What does the term ‘scope creep’ refer to?
The uncontrolled expansion of project scope without adjustments to time, cost, and resources.
Multiple Choice: Which document outlines how project risks will be managed? A) Project Charter B) Risk Management Plan C) Scope Statement D) Work Breakdown Structure
B) Risk Management Plan
What is the difference between qualitative and quantitative risk analysis?
Qualitative risk analysis assesses the impact and likelihood of risks using subjective measures, while quantitative risk analysis uses numerical methods to estimate risk impact.
Fill in the blank: A ______ is a formal agreement between two or more parties.
contract
True or False: Communication management is not essential for project success.
False
What is the purpose of a lessons learned document?
To capture knowledge gained during a project that can be used to improve future projects.
Multiple Choice: Which of the following tools is used for risk identification? A) SWOT Analysis B) Gantt Chart C) Pareto Chart D) Fishbone Diagram
A) SWOT Analysis
What is the significance of a project baseline?
It serves as a reference point for measuring project performance and progress.
Fill in the blank: The ______ is the total amount of work that must be completed for a project.
project scope
True or False: Agile project management is best suited for projects with fixed requirements.
False
What is the purpose of a stakeholder register?
To document information about project stakeholders, including their interests and influence.
What does the term ‘resource leveling’ mean?
A technique used to resolve resource conflicts by adjusting project schedules.
Multiple Choice: Which of the following is a key output of the planning process group? A) Project Charter B) Scope Statement C) Project Closeout Report D) Status Report
B) Scope Statement
What is the main objective of the Monitoring and Controlling process group?
To track, review, and regulate the progress and performance of the project.
Fill in the blank: The ______ is the person responsible for making decisions and ensuring the project aligns with business goals.
project sponsor
True or False: A project management plan is a single document that describes how a project will be executed, monitored, and controlled.
True
What is a project scope statement?
A document that defines the project scope, including deliverables, boundaries, and acceptance criteria.
What is the significance of the project kickoff meeting?
To formally start the project and align stakeholders on objectives and expectations.
Multiple Choice: Which of the following is a technique for estimating project costs? A) Monte Carlo Analysis B) SWOT Analysis C) Gantt Chart D) Fishbone Diagram
A) Monte Carlo Analysis
What does the term ‘critical path’ refer to?
The longest sequence of activities in a project that determines the shortest possible project duration.
Fill in the blank: A ______ is a temporary team formed to work on a specific project.
project team
True or False: Change management is not necessary if a project has a well-defined scope.
False
What is the purpose of a communication plan?
To outline how project information will be shared among stakeholders.
What is the significance of a project closure report?
To document the project’s performance, lessons learned, and formal acceptance of deliverables.
Multiple Choice: Which of the following describes the ‘initiating’ process group? A) Planning project activities B) Defining and authorizing the project C) Controlling project performance D) Closing project activities
B) Defining and authorizing the project
What is a project milestone?
A significant event or point in time in a project that marks the completion of a phase or deliverable.
Fill in the blank: The ______ is the planned timeline for a project.
project schedule
True or False: A risk mitigation strategy aims to reduce the likelihood or impact of a risk.
True
What is the role of a project sponsor?
To provide resources, support, and guidance for the project.
What does the term ‘earned value management’ (EVM) refer to?
A project management technique that combines scope, schedule, and resource measurements to assess project performance.
Multiple Choice: Which of the following is NOT a project management methodology? A) Agile B) Waterfall C) Scrum D) SWOT
D) SWOT
What is the significance of a project timeline?
It helps in scheduling tasks and understanding the sequence of activities for project completion.
Fill in the blank: The ______ is a document that provides a detailed description of project deliverables.
scope statement
True or False: All project risks are negative.
False
What is the purpose of a quality management plan?
To define how the project will ensure quality standards are met.
What is a project dependency?
A relationship between tasks where one task relies on the completion of another.
Multiple Choice: Which of the following is a common project performance metric? A) Cost Variance B) Project Charter C) Scope Baseline D) Risk Register
A) Cost Variance
What does the term ‘project governance’ refer to?
The framework that defines the roles, responsibilities, and processes for decision-making in a project.
Fill in the blank: A ______ is a formal document that outlines the agreement between the project manager and stakeholders.
project charter
True or False: The project management triangle emphasizes the trade-offs between scope, time, and quality.
False
What is the concept of ‘float’ in project management?
The amount of time that a task can be delayed without affecting the project’s overall timeline.
Multiple Choice: Which of the following best describes ‘scope management’? A) Managing the project budget B) Ensuring project deliverables meet quality standards C) Defining and controlling what is included and excluded in the project D) Tracking project performance
C) Defining and controlling what is included and excluded in the project
What is the purpose of a project risk register?
To document identified risks, their assessment, and planned responses.
Fill in the blank: A ______ is a graphical representation of the relationships between tasks in a project.
network diagram
True or False: A project can have multiple stakeholders with conflicting interests.
True
What is the purpose of a change control process?
To manage changes to the project scope, schedule, and budget.
Multiple Choice: Which of the following is an example of a qualitative risk assessment tool? A) Probability and Impact Matrix B) Monte Carlo Simulation C) Gantt Chart D) Earned Value Analysis
A) Probability and Impact Matrix
What is the purpose of a feasibility study in project management?
To assess the viability of a project idea before it is approved for development.
Fill in the blank: A ______ is a detailed plan that outlines how project work will be performed.
project management plan
True or False: A project can be considered successful if it is completed on time but does not meet quality standards.
False
What is the significance of a project kickoff document?
It formally communicates the start of the project and aligns stakeholders on goals and expectations.
Multiple Choice: Which of the following is a technique used to develop a project schedule? A) Risk Assessment B) Resource Allocation C) Critical Path Method D) SWOT Analysis
C) Critical Path Method
What does the term ‘deliverable’ refer to in project management?
A tangible or intangible product or result produced as part of a project.
Fill in the blank: The ______ is the person who oversees the project and is responsible for its success.
project manager
