BUSI 3309: Chapter 01 Modern Project Management With Answer Key.

Document Content and Description Below

Chapter 01 Modern Project Management With Answer Key Multiple Choice Questions 1. A professional organization for project management specialists is the A. PMI B. AMA C. MIS D. IPM E. PM... BOK The Project Management Institute (PMI) is a professional organization for project managers. Bloom's: Remember 2. Which of the following is NOT considered to be a characteristic of a project? A. An established objective B. A clear beginning and end C. Specific time, cost and performance requirements D. For internal use only E. Something never been done before Projects have an established objective, a defined life span, the involvement of several departments and professionals, may be something that has never been done before, and have specific time, cost and performance requirements. 3. Which of the following activities is NOT considered a project? A. Developing a new software program B. Designing a space station C. Preparing the site for the Olympic Games D. Production of automobile tires E. Developing a new advertising program A project is not routine, repetitive work! Ordinary daily work typically requires doing the same or similar work over and over, while a project is done only once; a new product or service exists when the project is completed. 4. Which of the following activities is the best example of a project? A. Processing insurance claims B. Producing automobiles C. Writing a policy manual D. Monitoring product quality E. Overseeing customer requests A project is not routine, repetitive work! Ordinary daily work typically requires doing the same or similar work over and over, while a project is done only once; a new product or service exists when the project is completed. 5. Which of the following is NOT one of the stages of a project life cycle? A. Conceptualizing B. Defining C. Planning D. Executing E. Closing The project life cycle passes sequentially through four stages: defining, planning, executing and closing. 6. In the _____________ stage of the project life cycle, project objectives are established, teams are formed, and major responsibilities are assigned. A. Conceptualizing B. Defining C. Planning D. Executing E. Closing Specifications of the project are defined; project objectives are established; teams are formed; major responsibilities are assigned in the defining stage. 7. In the _____________ stage of the project life cycle, a major portion of the physical project work performed. A. Conceptualizing B. Defining C. Planning D. Executing E. Closing A major portion of the project work takes place—both physical and mental—in the executing stage. 8. In the _____________ stage of the project life cycle you are more likely to find status reports, changes, and the creation of forecasts. A. Conceptualizing B. Defining C. Planning D. Executing E. Closing You are more likely to find status reports, changes and the creation of forecasts in the executing stage of the project life cycle. 9. In the _____________ stage of the project life cycle the project’s schedule and budget will be determined. A. Conceptualizing B. Defining C. Planning D. Executing E. Closing The schedule and budget are determined in the planning stage of the project life cycle. 10. In the _____________ stage of the project life cycle project the product is delivered to the customer and resources are reassigned. A. Conceptualizing B. Defining C. Planning D. Executing E. Closing The product is delivered and project resources are reassigned in the closing stage of the product life cycle. 11. Which of the following is NOT typical of a project manager? A. Managing a temporary activity B. Overseeing existing operations C. Managing a nonrepetitive activity D. Responsible for time, cost and performance trade-offs E. Work with a group of outsiders, including vendors and suppliers Project managers manage temporary, nonrepetitive activities unlike functional managers who manage existing operations. 12. Which of the following is NOT one of the driving forces behind the increasing demand for project management? A. Compression of the product life cycle B. Knowledge explosion C. Increasing need for multiproject management D. Declining need for product customization E. More sustainable business practices An increase in need for product customization is a driving force behind the increasing demand for project management. : 13. Project management is ideally suited for a business environment requiring all of the following EXCEPT A. Accountability B. Flexibility C. Innovation D. Speed E. Repeatability Competing in a global market influenced by rapid change, innovation, and time to market means organizations manage more and more projects. : 14. Which dimension of project management centers on creating a temporary social system within a larger organizational environment that combines the talents of a divergent set of professionals working to complete the project? A. Communication B. Sociocultural C. Social D. Technical E. Scheduling The sociocultural dimension of project management centers on creating a temporary social system that supports the project. : - An Socio-Technical Approach 15. Which of the following statements is true? A. Project management is far from a standard way of doing business B. Project management is increasingly contributing to achieving organizational strategies C. Project management is being used at a consistent percentage of a firm’s efforts D. Project management is a specialty that few organizations have access to E. All of these statements are false Project management is rapidly becoming a standard way of doing business. The future promises an increase in the importance and the role of projects in contributing to the strategic direction of organizations. : Level: Difficult 16. Project management is important to understand when people are a part of a project team because they A. Work with others to create a schedule and budget B. Need to understand project priorities so they can make independent decisions C. Need to be able to monitor and report project progress D. Need to understand the project charter or scope statement that defines the objectives and parameters of the project E. All of these are reasons it is important for project team members to understand project management Project members are expected to use project management tools and concepts such as working as a team to create a budget or schedule and be able to monitor project progress. They also need to be able to understand project priorities and parameters. 17. does NOT include A. Setting standards for project selection B. Overseeing project management activities C. Centralization of project processes and practices D. Options for continuous improvement E. Allowing project managers to plan the project the way they see fit includes the centralization of project management processes and practices. This involves setting standards for project selection and overseeing project management activities, which results in options for continuous improvement. : Level: Difficult 18. Projects should align with the organization’s overall strategy in order to A. Complete the project safely B. Reduce waste of scarce resources C. Ensure customer satisfaction D. Secure funding E. None of these are reasons why projects should align with the organization’s overall strategy Since projects are the modus operandi, strategic alignment of projects is of major importance to conserving and effective use of organization resources. : 19. Two dimensions within the project management process are A. Technical and sociocultural B. Cost and time C. Planned and unexpected D. Established and new E. Unique and reoccurring There are two dimensions within the actual execution of projects. These include the technical dimension and the sociocultural dimension. Bloom's: Remember : —A Socio-Technical Approach 20. Which of these is NOT part of the "technical dimension" of project management? A. WBS B. Budgets C. Problem solving D. Schedules E. Status reports The technical dimension includes developing the WBS, budgets, schedules and status reports. Problem solving would be a part of the sociocultural dimension. : — 21. Which of these is NOT part of the "sociocultural dimension" of project management? A. Negotiation B. Resource allocation C. Customer expectations D. Leadership E. Politics The sociocultural dimension includes negotiation, managing customer expectations, leadership and dealing with politics. Resource allocation is part of the technical dimension of project management. 22. Corporate downsizing has increased the trend toward A. Reducing the number of projects a company initiates B. Outsourcing significant segments of project work C. Using dedicated project teams D. Shorter project lead times E. Longer project lead times Companies outsource significant segments of project work, and project managers have to manage not only their own people but also their counterparts in different organizations. : 23. Which of the following is NOT a reason why project management has become a standard way of doing business? A. Increased need for skilled management of stakeholders outside of organization B. Projects need to be done faster C. Organizations are doing more project work in-house instead of outsourcing D. Organizations are executing more and more projects E. Increased product complexity and innovation One of the most significant driving forces behind the demand for project management is corporate downsizing. This has also led to a change in the way organizations approach projects. Companies outsource significant segments of project work, and project managers have to manage not only their own people but also their counterparts in different organizations. : 24. Which of the following is typically the responsibility of a project manager? A. Meeting budget requirements B. Meeting schedule requirements C. Meeting performance specifications D. Coordinating the actions of the team members E. All of these are typical responsibilities They must ensure that appropriate trade-offs are made between the time, cost, and performance requirements of the project. 25. A series of coordinated, related, multiple projects that continue over an extended time period and are intended to achieve a goal is known as a A. Strategy B. Program C. Campaign D. Crusade E. Venture A program is a group of related projects designed to accomplish a common goal over an extended period of time. Answer B Bloom's: Remember 26. Which of the following is NOT true about project management? A. It is not limited to the private sector B. Many opportunities are available for individuals interested in this career path C. It improves one’s ability to plan, implement and manage activities to accomplish specific organizational objectives D. It focuses primarily on technical processes E. It is a set of tools Project management is more than a set of tools; it also focuses on building collaborative relationships among a diverse cast of individuals. : — 27. As the number of small projects increases within an organization’s portfolio, what is a challenge the organization faces? A. Sharing resources B. Measuring efficiency C. Managing risk D. Prioritizing projects E. All of these are challenges Many firms have no idea of the problems involved with efficient management of small projects. These include sharing resources, measuring efficiency, managing risk and being able to prioritize projects. : 28. Governance of all project management processes and procedures helps provide senior management with all of the following EXCEPT A. A method to ensure projects that are important to senior management are being implemented B. An assessment of the risk their portfolio of projects represents C. An overview of all project management activities D. A metric to measure the improvement of managing projects relative to others in the industry E. A big picture of how organizational resources are being used Governance includes implementing methods of selecting projects that align with organizational strategy and not on how important the project is to senior management. : 29. Which of the following is a good example of a program? A. Planting a garden B. Developing a new residential area that includes six custom homes C. Developing a new marketing plan D. Taking notes each class meeting to prepare for the final E. Planning a wedding A program is a group of related projects designed to accomplish a common goal over an extended period of time. 30. Which of the following represents the correct order of stages within the project life cycle? A. Planning, Defining, Executing, Closing B. Closing, Planning, Defining, Executing C. Defining, Planning, Executing, Closing D. Executing, Defining, Planning, Closing E. Planning, Defining, Closing, Executing The project life cycle passes sequentially through four stages: defining, planning, executing, and closing. Bloom's: Remember Fill in the Blank Questions 31. Project management is not limited to the __________ sector. 32. The initial stage in the project life cycle is the __________ stage. 33. The final stage in the project life cycle is the __________ stage. 34. A professional organization for project managers that has grown from 93,000 in 2002 to more than 520,000 currently is the ___________. 35. A major part of the project work, both physical and mental, takes place in the ___________ stage of the project life cycle. 36. The project's schedule and budget will be determined in the ___________ stage of the project life cycle. 37. A temporary endeavor undertaken to create a unique product, service, or result is a(n) _________. 38. In today's high-tech industries the product life cycle is averaging _________ to 3 years. 39. The advent of many small projects has created the need for an organization that can support __________ management. 40. Increased competition has placed a premium on customer satisfaction and the development of __________ products and services. 41. In some organizations, selection and management of projects often fail to support the overall _________ of the organization. 42. WBS, schedules, and budgets are examples of the _________ dimension of the project management process. 43. Leadership, teamwork, and negotiation are examples of the _________ dimension of the project management process. 44. A professional organization for project management specialists is the ___________. 45. One of the defining characteristics of a project is that it has a singular purpose, i.e., an established ________. 46. Because projects have a defined beginning and end, the ________ is frequently used to manage the transitions of a project from start to completion. 47. The _____________ typically passes sequentially through four stages. 48. The establishment of project goals, specifications, and responsibilities usually occurs in the ________ stage of the project life cycle. 49. Training the customer, reassigning staff, and releasing resources occurs in the ________ stage of the project life cycle. 50. Project managers are expected to ensure that appropriate trade-offs are made between the time, cost, and __________ requirements of the project. 51. An increase in the complexity of projects, because projects typically include the latest advances, can be the result of a growth in __________. 52. A(n) _________ is a series of coordinated, related multiple projects that continue over an extended time intended to achieve a goal. 53. Applying a set of knowledges, skills, tools, and techniques to a collection of projects in order to move the organization toward its strategic goals is known as project ____________. governance True / False Questions 54. Because of the profitability motive, project management is nearly always limited to the private sector. 55. Most people who excel at managing projects never have the title of project manager. 56. The professional certification for project managers is a Project Management Professional (PMP). 57. Because of its flexibility, project management is equally useful in ongoing, routine work as well as unique, one-time projects. 58. One of the defining characteristics of project management is that the projects are not confined to a single department but involve several departments and professionals. 59. One of the characteristics that separate project management from other endeavors of the organization is that there are specific time, cost, and performance requirements. 60. Not only is project management critical to many careers, the skill set is transferable across most businesses and professions. 61. Since a construction company builds many buildings, the buildings built after the first do not fit the definition of a project. 62. The first stage in the project life cycle is the concept stage. 63. A major portion of the project work, both physical and mental, takes place during the production stage of the project life cycle. 64. A program is a process designed to accomplish a common goal over time. 65. Because of the requirement for in-depth expertise, project management is generally restricted to specialists. 66. means applying a set of knowledges, skills, tools, and techniques to a collection of projects in order to move the organization toward its strategic goals. 67. One of the most significant driving forces behind the demand for project management is the ever increasing lengthening of the product life cycle. 68. Project management appears to be ideally suited for a business environment requiring accountability, flexibility, innovation and repeatability. 69. At first glance, project managers perform the same functions as other managers. That is, they plan, schedule, motivate and control. 70. Strategic plans should be written by one group of managers, projects should be selected by another group, and projects should be implemented by another group. 71. Today, projects are the modus operandi or the method used for implementing organizational strategy. 72. Due to corporate downsizing, significant segments of project work have been outsourced to other organizations. 73. Smaller projects in larger organizations tend not to need project management skills. 74. Successful project managers focus primarily on technical dimensions of project management, which include planning, scheduling, and controlling projects. 75. The sociocultural dimension of project management includes managing relationships, motivating team members and negotiating project terms. 76. Small business development is a major driver of project management. Short Answer Questions 77. Compare and contrast the Product Life Cycle and the Project Life Cycle. 78. Identify the five major characteristics of a project. 79. Identify and briefly describe the four stages of the Project Life Cycle. 80. "Project managers perform the same functions as other managers." Agree or disagree, and support your decision. 81. Identify and briefly describe the six current drivers of project management. 82. Describe what means to project management. Why is it important to organizational strategy? 83. Even if you never aspire to be a “project manager,” why is it important to know how to manage projects effectively? Explain your answer and use an example to support your answer. 84. Identify and briefly discuss the two key dimensions of managing actual projects. Explain why both are important to successfully manage a project. Use an example to support your answer. 85. What are the major differences between managing a process and managing a project? 86. Describe what it means that a project manager must work with a diverse group of characters? 87. What is the difference between a project and a program? 88. Describe how corporate downsizing is a driver for project management. [Show More]

Last updated: 1 year ago

Preview 1 out of 30 pages