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