Quiz: End of All Lessons

Question 1

Projects have a(n) {blank} start and end date.

1. Definite
2. Flexible
3. Indefinite

Answer 1

Definite

All projects have a definite start and end date.

Question 2

Identify which of the following are business scenarios. (Choose all that apply.)

1. The price of oil is at a five-year high.
2. The price of oil is at a five-year high and expected to continue to rise.
3. New battery technology has been developed.
4. New technology can provide smaller batteries that can be recharged by movement of the mobile device, extending battery life.
5. Oil prices are at a five-year high. Battery technology is improving.

Answer 2

• The price of oil is at a five-year high and expected to continue to rise.
• New technology can provide smaller batteries that can be recharged by movement of the mobile device, extending battery life.

The price of oil is at a five-year high and expected to continue to rise. (Feedback: Both of these statements contain information about past, present, and future outcomes.) New technology can provide smaller batteries that can be recharged by movement of the mobile device, extending battery life. (Feedback: Both of these statements contain information about past, present, and future outcomes.)

Question 3

Projects selected by an organization must be directly related to the organization’s {blank}.

1. Strategy
2. Operating Procedures
3. Level of Maturity

Answer 3

Strategy

Projects must relate to the organization’s strategy.

Question 4

What are the objectives of project management?

1. Meeting scope, budget, and schedule
2. Making sure the guilty are blamed for a problem
3. Maximizing bonuses for successful project completion
4. Completing the project regardless if it aligns with company strategy

Answer 4

Meeting scope, budget, and schedule

These are the triple constraints of project management.

Question 5

True or False.

Project managers must not only manage people of all levels, but they must also manage costs, expectations, procurement, outside suppliers, and partners.

True

False

Answer 5

True

A PM is all things to all people, and managing time and money and function are the key aspects of the expectations.

Question 6

It is important that project status meetings are:

1. regular and timely
2. weekly
3. monthly
4. at stakeholders’ request

Answer 6

regular and timely

The frequency of project status meetings is based on stakeholders’ interests and communication needs, but they must be regular and timely.

Question 7

Which communication type is the best option when working in a widely dispersed virtual team?

1. Point-to-point instant messaging
2. Phone calls
3. Shared threaded discussion
4. Email

Answer 7

Shared threaded discussion

Shared threaded discussions allow the contents to be available for all the team members to access and contribute to, regardless of time zone.

Question 8

Which organization includes standards for Organizational Project Management Maturity (OPM3)?

1. PMI
2. APM
3. IPMA
4. AXELOS Ltd.

Answer 8

PMI

The Project Management Institute publishes both foundational and practice standards, including standards and frameworks for OPM3.

Question 9

Which organizational structure is used by government entities?

1. Projectized
2. Functional
3. Matrix

Answer 9

Functional

A functional organization is straightforward, has clear lines of authority, and is well-defined. This makes it perfectly suited to government entities.

Question 10

Which applies to the PMO? (Choose all that apply.)

1. Tracks “lessons learned” to be carried to new projects.
2. Forms a department to assign people of no value who cannot be dismissed from the organization.
3. Helps provide resources to projects as needed.
4. Creates a repository for all project knowledge in the organization.

Answer 10

Tracks “lessons learned” to be carried to new projects.

Helps provide resources to projects as needed.

Creates a repository for all project knowledge in the organization.

Question 11

PMOs can help align project investment to:

1. Historical records
2. Monitoring and control
3. Corporate strategy
4. Project policies

Answer 11

Corporate strategy

PMOs can help an organization to align project investment to corporate strategy.

Question 12

In addition to the triple constraints, what other considerations may determine if the project is successful?

1. The project is a project of high interest to the CEO.
2. There are no government regulations that affect the product of the project.
3. The requirements in the scope adequately define the project’s objectives.

Answer 12

The requirements in the scope adequately define the project’s objectives.

The scope requirements should adequately define project objectives.

Question 13

Which statement about projects, programs, and portfolios is correct?

1. A group of programs or projects that support the same business goal makes up a portfolio.
2. Any two projects make up a program.
3. Calling an endeavor a program justifies assigning more resources.
4. Only programs can be a part of a portfolio.

Answer 13

A group of programs or projects that support the same business goal makes up a portfolio.

Question 14

You work at an automotive manufacturer. This company has the goal of being able to supply a full family of passenger cars from small compact to large luxury.

There is a huge endeavor being undertaken to design and develop an entirely new small passenger car. There are several groups of people working on different aspects of this endeavor: one group on the engine, one on the transmission, one on navigation system, and so on. Each group has its scheduled start and end dates and a definition of the unique product it will create.

Each of these groups is working on a {blank}.

1. program
2. portfolio
3. project
4. long-term business strategy

Answer 14

project

Each group is involved in an activity that meets the definition of a project.

Question 15

You are talking to a friend, Ted, who has renovation project management experience. You cannot decide whether you want to take on the daunting task of being your own project manager. Ted tells you that if you decide to manage the project, your first assignment will be to create the project {blank}.

1. Scheduling template
2. Workflow diagram
3. Platform
4. Plan

Answer 15

Plan

The plan needs to begin immediately so that resources can be selected for executing on the plan.

Question 16

You ask Ted what types of skills he thinks are critical in a project manager role. Ted thinks for a minute, then responds, “I can think of three things right off the top of my head.”

What do you think are critical? (Choose all that apply.)

1. Conflict resolver
2. Most popular person
3. Organization
4. Ability to communicate verbally and in writing
5. Great technician

Answer 16

Conflict resolver
Organization
Ability to communicate verbally and in writing

Question 16

What has the evolution of cloud computing done for project management?

1. Created a universal database for housing document templates and examples
2. Provided levels of security for the housing of documents and reports
3. Provided a way to collaborate virtually
4. Developed a structure for project manager certification tracking

Answer 16

Provided a way to collaborate virtually

The cloud has opened up new ways of collaborating in all kinds of environments and teams.

Question 17

An organization’s project management maturity level is determined by what?

1. Adherence to standards or guidelines set by recognized professional organizations
2. The percentage of projects completed successfully
3. Whether project managers have degrees
4. The number of certified project managers on staff

Answer 17

Adherence to standards or guidelines set by recognized professional organizations

There are accepted standards and guidelines that specify certain practices that must be adhered to in order to reach levels of project management maturity.

Question 18

In which type of organizational structure does the project manager and the functional manager “share” authority?

1. Functional
2. Projectized
3. Matrix

Answer 18

Matrix

In this organization the project manager and the functional manager “share” authority.

Question 19

What are advantages of having a project management office? (Choose all that apply.)

1. Keeps a central database of “lessons learned”
2. Makes sure all projects implement best practices
3. Makes sure proprietary information remains within the company
4. Provides a place to assign people between projects

Answer 19

Keeps a central database of “lessons learned”

Makes sure all projects implement best practices

Question 20

The base types of organizational structure are functional, projectized, and:

1. Informal
2. Formal
3. Matrix
4. Ad hoc

Answer 20

Matrix

This is the third type of organizational structure.

Question 21

What is an example of information that might be found in a project proposal?

1. Risks to the project
2. Project charter
3. Low-level estimate of the costs

Answer 21

Risks to the project

A complete project proposal includes any risks that might derail the project.

Question 22

What concludes the project defining phase?

1. Brainstorming approaches for getting key stakeholders on board
2. Creation of a work breakdown structure
3. Creation and selection of the project charter

Answer 22

Creation and selection of the project charter

Project selection and the drafting of a project charter conclude the defining phase of a project.

Question 23

Major project outcomes and deliverables, how the project will be completed, and a high-level estimate of the cost and completion time are included in the:

1. project charter
2. project proposal
3. project concept document

Answer 23

project proposal

Major project outcomes and deliverables, how the project will be completed, and a high-level estimate of the cost and completion time are included in the project proposal.

Question 24

True or False. During the executing phase, the project team may need to return to the planning phase in order to make an adjustment to the budget, schedule, or scope. 1. True 1. False

Answer 24

True ## Footnote It is during the executing phase that changes to triple constraints are often identified and must be addressed. Submit

Question 25

The project deliverables and outcomes are created during the which phase of the project life cycle? 1. Closing 1. Executing 1. Defining 1. Planning

Answer 25

Executing ## Footnote The project team completes the activities to create the project deliverables and outcomes during the executing phase of the project life cycle.

Question 26

What is a project scope? 1. The desired result for a project 1. The quality of a project 1. Project assumptions

Answer 26

The desired result for a project ## Footnote Project scope is the desired result for a project, and it defines the product.

Question 27

What is an example of a milestone date? 1. Critical path 1. Project float 1. Safety inspection

Answer 27

Safety inspection ## Footnote Milestone dates are key dates and critical events, such as safety inspections, which shape the project schedule.

Question 28

What does a project baseline help to establish? 1. Projected scope, schedule, and cost 1. Project schedule 1. Project cost 1. Project scope

Answer 28

Projected scope, schedule, and cost ## Footnote A project’s expected scope, schedule, and cost are all established in a project baseline.

Question 29

In examining the triple constraints for the opening of a coffee shop, which development will affect the project scope? 1. Late winter freeze delays early spring start to construction 1. Addition to building is cancelled due to unanticipated underground storage tank 1. Coffee cups have increased in price since they were selected 1. Installation of parking lot takes an extra day due to weather

Answer 29

Addition to building is cancelled due to unanticipated underground storage tank ## Footnote This development would affect the project scope, since the addition will no longer be made to the building.

Question 30

In examining the triple constraints for a proposed gift shop, which development will impact the project schedule? 1. The construction permits cannot be secured until three weeks later than expected. 1. The community covenants restrict the color choice for the building’s exterior. 1. The price of the shelving selected increases.

Answer 30

The construction permits cannot be secured until three weeks later than expected. ## Footnote This development would affect the project schedule, since the permitting process will delay the project start date.

Question 31

In examining the triple constraints for a proposed health spa, which development will impact the project cost? 1. Contractor’s injury delays project start date. 1. Equipment ordered is no longer available. 1. Needed storage shed on site encroaches on neighboring property and must be removed and replaced.

Answer 31

Needed storage shed on site encroaches on neighboring property and must be removed and replaced. ## Footnote This development would affect the project cost, since the shed assumed to be useful must be replaced. Project scope would only be impacted if the shed were not replaced.

Question 32

When does the project defining phase begin? 1. When an idea for a project is identified by a company 1. When management decides to select a project for implementation 1. When all aspects of the triple constraints are met 1. When the project charter is drafted

Answer 32

When an idea for a project is identified by a company ## Footnote The defining phase begins when an idea for a project is identified.

Question 33

Identifying work activities and tasks is an example of an action executed in which phase of the project life cycle?

Answer 33

Planning ## Footnote Identifying work activities and tasks is specific and is done in the planning phase.

Question 34

Determining expected revenues is an example of an action executed in which phase of the project life cycle?

Answer 34

Defining ## Footnote Determining expected revenues is a general assessment done in the defining phase.

Question 35

What is an example of project scope creep? 1. Having an incomplete project scope 1. Continually using change management procedures 1. Adding functionality without considering impacts

Answer 35

Adding functionality without considering impacts ## Footnote It is important to create and deliver what has been contracted, on budget and on time. Adding functionality without considering impacts to the project’s budget, schedule, and resources is an example of scope creep.

Question 36

What is gathered and documented by the project manager during the project closing phase? 1. Project outcomes 1. Revised activities 1. Lessons learned

Answer 36

Lessons learned ## Footnote The project manager gathers and documents lessons learned during the project closing phase. These are to benefit future projects.

Question 37

What is an example of measurable goals? 1. Price point 1. Sponsor requirements 1. Business case 1. Project justification

Answer 37

Price point ## Footnote Examples of measurable goals include price point, maximum production time, total cost, and other factors.

Question 38

The approval of the scope, budget, and schedule mark the end of the which phase of the project life cycle? 1. Closing 1. Executing 1. Defining 1. Planning

Answer 38

Planning ## Footnote The planning phase creates an approved scope, budget, and schedule so that the project can move to the executing phase of the project life cycle.

Question 39

When not enough information is available to fully plan the project, which benefits can companies gain by using iterative planning methods? 1. The organization can discover more information through each subsequent phase. 1. Although the project cannot be cancelled, the team can take actions to get it back on track. 1. The costs of project planning are kept in just one phase.

Answer 39

The organization can discover more information through each subsequent phase. ## Footnote Each phase has one or more deliverables that brings clarity to the scope and overall outcome of the project.

Question 39

Why are planning and executing considered iterative activities? 1. They can be performed in either order. 1. They are critical to completing the project. 1. They will occur repeatedly as problems are detected. 1. They occur in sequence.

Answer 39

They will occur repeatedly as problems are detected. ## Footnote The project team will replan parts of the project and then return again to executing whenever it is determined that the existing plan is insufficient to meet the requirements of the customer.

Question 40

As the project manager, you have great dreams for your restaurant—branching out to food trucks and future expansion, to name a couple. You decide to break those dreams into a program and divide specific elements of deliverables into separate projects. The first project will be the initial restaurant only. Which phases will you need to do for each subsequent project? Executing Defining, planning, executing, and closing Planning, executing, and closing Planning and executing

Answer 40

Defining, planning, executing, and closing ## Footnote It is critical to do all the phases for each project so that you can be sure that all the parts of the program integrate at the end. You need to know when one project begins and another has ended so you can fit the pieces together. Even lessons learned should help you in the next projects of the program.

Question 41

During the execution phase, the team discovers that some of the planned activities are not sufficient to complete the project’s objectives. What do you need to do? 1. Do the best you can and proceed to the project closing phase. 1. Return to the planning phase in order to make adjustments to the triple constraints. 1. Revise the project objectives. 1. Fire the people who misjudged the planned activities in the first place.

Answer 41

Return to the planning phase in order to make adjustments to the triple constraints. ## Footnote If this occurs, you may need to return to the planning phase in order to make adjustments to the budget, schedule, and scope.

Question 42

Caesar, your chef, came to you with a request for a specialized piece of equipment that was not in the original plans. What is this an example of? 1. a milestone 1. float 1. a change in the critical path 1. scope creep

Answer 42

scope creep ## Footnote The addition of something that was not in the statement of work leads to scope creep.

Question 42

What is an example of an expense that is included in the project costs? 1. Equipment which will be used after project 1. Cost of business expenses 1. Recruiter fees 1. Salaries

Answer 42

Salaries ## Footnote The salaries and wages of employees involved on the project are included in the project costs.

Question 43

If there is a 10-day delay in getting the appliances delivered, how will that impact the critical path? 1. It will not impact the critical path. 1. The critical path now becomes A B E G. 1. The float time will increase by 1 day. 1. The critical path now becomes A D F G.

Answer 43

The critical path now becomes A B E G. ## Footnote With the additional 10 days added, the critical path does change to A B E G because B is a predecessor of E.

Question 44

Models are representations of: 1. Reality 1. Selection criteria 1. Measurement

Answer 44

Reality ## Footnote Models are used to provide a representation of a future reality.

Question 45

What is an example of a type of non-numeric model for selection criteria? 1. Return on investment 1. Operating necessity 1. Revenue

Answer 45

Operating necessity ## Footnote The most common examples for non-numeric selection criteria models are competitive necessity, operating necessity, and sacred cow.

Question 46

Using a scoring model, criteria are selected for scoring based on the company’s {blank}. 1. Operating necessity 1. Competitive necessity 1. Objectives

Answer 46

Objectives ## Footnote The scoring model improves upon the checklist model by identifying a set of criteria important to the company's objectives.

Question 47

Which financial concept used for project selection evaluates projects in the same way that financial investments are evaluated? 1. Payback period 1. Internal rate of return 1. Return on investment

Answer 47

Internal rate of return ## Footnote Like a financial investment, the internal rate of return model for project selection focuses on the potential rate of return a project might produce.

Question 48

What is a possible shortcoming of using a project selection model? 1. Models are singular in their vision of reality. 1. Models are not beneficial for estimating costs. 1. Models require an artist’s conception.

Answer 48

Models are singular in their vision of reality. ## Footnote Because of their singularity of vision, models can ignore other aspects of a future project.

Question 49

Why is having an appropriate project selection method important? 1. To budget limited resources 1. To get loans from banks 1. To give stakeholders the impression that care goes into the project selection process 1. To motivate employees

Answer 49

To budget limited resources ## Footnote Organizations have a limit to the funding, personnel, and equipment available to develop new products and services.

Question 50

You work for the Whoopie Toy Company. You have been assigned to lead a project to design a board game that was approved and started over a year ago. In that time, not only have some of your company’s priorities and goals changed, but the interest in board games has declined, and you are not sure that this project is still relevant. You approach your supervisor to raise the issue, since you do not want to waste resources. Your supervisor responds that he is aware that the project is not really in line with the organization’s current strategy but it must be completed anyway, as it has sponsorship from the VP of marketing. What is this an example of? 1. Competitive necessity 1. Operating necessity 1. Sacred cow

Answer 50

Sacred cow ## Footnote This is a sacred cow project since it does not fall under either a competitive or an operating necessity. The main reason it is being undertaken is at the request of a high-ranking stakeholder.

Question 50

What is an example of a type of non-numeric model for selection criteria? 1. Return on investment 1. Operating necessity 1. Revenue

Answer 50

Operating necessity ## Footnote The most common examples for non-numeric selection criteria models are competitive necessity, operating necessity, and sacred cow.

Question 51

What does "opportunity cost" mean? 1. The additional expected benefit required to invest in a riskier project 1. The tax you pay for the benefit derived 1. The fee you have to pay to take advantage of an opportunity 1. The benefit that could have been realized if the money were used for another purpose

Answer 51

The benefit that could have been realized if the money were used for another purpose ## Footnote This is the definition of opportunity cost. If money is used for one purpose, it is not available for another use.

Question 52

Which model selection criterion emphasizes accurate measures across a range of conditions? 1. Flexible 1. Easy to use 1. Comparable

Answer 52

Flexible ## Footnote The flexible criterion states that the model should provide accurate measures across a reasonable range of conditions.

Question 53

Which model selection criterion emphasizes reflecting the way the organization does business? 1. Realistic 1. Capable 1. Easy to use

Answer 53

Realistic ## Footnote This criterion reflects the way the organization does business and is appropriate for the level of resources, capabilities, and external environment.

Question 54

Which model selection criterion emphasizes focusing on factors that are relevant to the organization? 1. Capable 1. Comparable 1. Flexible

Answer 54

Capable ## Footnote This criterion focuses on factors that are relevant to the organization.

Question 55

The checklist model for project selection is an example of which model? 1. Non-numeric 1. Numeric

Answer 55

Non-numeric ## Footnote Checklist models are frequently used for project selection and they are non-numeric in nature.