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Unformatted text preview: Chapter 01 - Modern Project Management Chapter 01 Modern Project Management Answer Key Multiple Choice Questions 1. A professional organization for project management specialists is the A. PMI B. AMA C. MIS D. IPM E. PMBOK Feedback: The Project Management Institute (PMI) is a professional organization for project managers. Answer: A AACSB: Reflective Thinking Bloom's: Remember Learning Objective: What is a Project? Level: Easy 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 Feedback: Projects have an established objective, a defined life span, the involvement of several departments and professionals, may beis something that has never been done before, and haves specific time, cost and performance requirements. Answer: D AACSB: Reflective Thinking Bloom's: Apply Learning Objective: What is a Project? Level: Medium 1-1 Chapter 01 - Modern Project Management 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 Feedback: 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. Answer: D AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Medium 4. When considering ich of the following activities , which 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 Feedback: 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. Answer: C AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Medium 1-2 Chapter 01 - Modern Project Management 5. Which of the following choices is NOT one of the stages of a project life cycle? A. Conceptualizing B. Defining C. Planning D. Executing E. Closing Feedback: The project life cycle passes sequentially through four stages: defining, planning, executing and closing. Answer: A AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Medium 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 Feedback: Specifications of the project are defined; project objectives are established; teams are formed; major responsibilities are assigned in the defining stage. Answer: B AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Medium 1-3 Chapter 01 - Modern Project Management 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 Feedback: A major portion of the project work takes place—both physical and mental— in the executing stage. Answer: D AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Medium 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 Feedback: You are more likely to find status reports, changes and the creation of forecasts in the executing stage of the project life cycle. Answer: D AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Medium 1-4 Chapter 01 - Modern Project Management 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 Feedback: The schedule and budget areis determined in the planning stage of the project life cycle. Answer: C AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Medium 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 Feedback: The product is delivered and project resources are reassigned in the closing stage of the product life cycle. Answer: E AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Easy 1-5 Chapter 01 - Modern Project Management 11. Which of the following is NOT typical of a project manager? A. Managing a temporary activity B. Overseeing existing operations C. Managing a non-repetitive activity D. Responsible for time, cost and performance trade-offs E. Work with a group of outsiders, including vendors and suppliers Feedback: Project managers manage temporary, non-repetitive activities unlike functional managers who manage existing operations. Answer: B AACSB: Reflective Thinking Bloom's: Apply Learning Objective: What is a Project? Level: Medium 12. Which of the following choices 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 multi-project management D. Declining need for product customization E. More sustainable business practices Feedback: An increase in need for product customization isn a driving force behind the increasing demand for project management. Answer: D AACSB: Reflective Thinking Bloom's: Understand Learning Objective: Current Drivers of Project Management Level: Medium 1-6 Chapter 01 - Modern 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 Feedback: Competing in a global market influenced by rapid change, innovation, and time to market means organizations manage more and more projects. Answer: E AACSB: Reflective Thinking Bloom's: Understand Learning Objective: Project Governance Level: Medium 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 Feedback: The sociocultural dimension of project management centers on creating a temporary social system that supports the project. Answer: B AACSB: Reflective Thinking Bloom's: Understand Learning Objective: Project Management Today - An Socio-Technical Approach Level: Medium 1-7 Chapter 01 - Modern Project Management 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 Feedback: 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. Answer: B AACSB: Reflective Thinking Bloom's: Understand Learning Objective: Current Drivers of Project Management Level: Difficult 16. Project management is important to understand when people aresomeone is 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 Feedback: Project members are expected to use project management tools and concepts such as working as a team to create a budget or schedule and being able to monitor project progress. They also need to be able to understand project priorities and parameters. Answer: E AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Easy 1-8 Chapter 01 - Modern Project Management 17. Project governance 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 the project managers to plan the project the way they see fit Feedback: Project governance 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. Answer: E AACSB: Reflective Thinking Bloom's: Understand Learning Objective: Project Governance 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 Feedback: Since projects are the modus operandi, strategic alignment of projects is of major importance to conserving and effective use of organization resources. Answer: B AACSB: Reflective Thinking Bloom's: Understand Learning Objective: Project Governance Level: Medium 1-9 Chapter 01 - Modern Project Management 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 Feedback: There are two dimensions within the actual execution of projects. These include the technical dimension and the sociocultural dimension. Answer: A AACSB: Reflective Thinking Bloom's: Remember Learning Objective: Project Management Today—y - An Socio-Technical Approach Level: Easy 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 Feedback: The technical dimension includes developing the WBS, budgets, schedules and status reports. Problem solving would be a part of the sociocultural dimension. Answer: C AACSB: Reflective Thinking Bloom's: Understand Learning Objective: Project Management Today—A Socio-Technical ApproachProject Management Today - An Socio-Technical Approach Level: Medium 1-10 Chapter 01 - Modern Project Management 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 Feedback: The sociocultural dimension includes negotiation, managing customer expectations, leadership and dealing with politics. Resources allocation is part of the technical dimension of project management. Answer: B AACSB: Reflective Thinking Bloom's: Understand Learning Objective: Project Management Today—A Socio-Technical Approach Project Management Today - An Socio-Technical Approach Level: Medium 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 Feedback: 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. Answer: B AACSB: Reflective Thinking Bloom's: Understand Learning Objective: Current Drivers of Project Management Level: Medium 1-11 Chapter 01 - Modern Project Management 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 Feedback: 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. Answer: C AACSB: Reflective Thinking Bloom's: Understand Learning Objective: Current Drivers of Project Management Level: Medium 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. Coordinatinge the actions of the team members E. All of these are typical responsibilities Feedback: They must ensure that appropriate trade-offs are made between the time, cost, and performance requirements of the project. Answer: E AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Easy 1-12 Chapter 01 - Modern Project Management 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 Feedback: A program is a group of related projects designed to accomplish a common goal over an extended period of time. Answer B AACSB: Reflective Thinking Bloom's: Remember Learning Objective: What is a Project? Level: Easy 26. Which of tThe 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 Feedback: Project management is more than a set of tools;, it also focuses on building collaborative relationships among a diverse cast of individuals. Answer: D AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Learning Objective: , Project Management Today—A Socio-Technical ApproachProject Management Today – A Socio-Technical Approach Level: Medium 1-13 Comment [Pdl1]: 2 LOs okay? I have styled them as separate LOs, or pls help with what is appropriate here -ce Chapter 01 - Modern Project Management 27. As the number of small projects increases within an organization’s portfolio, what is a challenge these organizations faces? A. Sharing resources B. Measuring efficiency C. Managing risk D. Prioritizing projects E. All of these are challenges Feedback: Many firms have no idea of the problems involved with inefficient management of small projects. These include sharing resources, measuring efficiency, managing risk and being able to prioritize projects. Answer: E AACSB: Reflective Thinking Bloom's: Understand Learning Objective: Current Drivers of Project Management Level: Medium 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. Feedback: Governance includes implementing methods of selecting projects that align with organizational strategy and not on how important the project is to senior management. Answer: A AACSB: Reflective Thinking Bloom's: Understand Learning Objective: Project Governance Level: Medium 1-14 Chapter 01 - Modern Project 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 Feedback: A program is a group of related projects designed to accomplish a common goal over an extended period of time. Answer: B AACSB: Reflective Thinking Bloom's: Apply Learning Objective: What is a Project? Level: Easy 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 Feedback: The project life cycle passes sequentially through four stages: defining, planning, executing, and closing. Answer: C AACSB: Reflective Thinking Bloom's: Remember Learning Objective: What is a Project? Level: Easy 1-15 Chapter 01 - Modern Project Management Fill in the Blank Questions 31. Project management is not limited to the __________ sector. private Feedback: Project management is also a vehicle for doing good deeds and solving social problems. AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Easy 32. The initial stage in the pProject lLife cCycle is the __________ stage. defining Feedback: Specifications of the project are defined; project objectives are established; teams are formed; major responsibilities are assigned in the defining stage of the project life cycle. AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Easy 33. The final stage in the project life cycle is the __________ stage. closing Feedback: Closing includes three activities: delivering the project product to the customer, redeploying project resources, and post-project review. AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Easy 34. A professional organization for project managers that has grown from 93,000 in 2002 to more than 520,000 currently is the ___________. PMI Feedback: The Project Management Institute (PMI), is a professional organization for project managers. AACSB: Reflective Thinking Bloom's: Remember Learning Objective: What is a Project? Level: Easy 1-16 Chapter 01 - Modern Project Management 35. A major part of the project work, both physical and mental, takes place in the ___________ stage of the project life cycle. executing Feedback: A major portion of the project work takes place—both physical and mental—takes place during the executing stage of the project life cycle. AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Easy 36. The project's schedule and budget will be determined in the ___________ stage of the project life cycle. planning Feedback: During the planning stage, the level of effort increases, and plans are developed to determine what the project will entail, when it will be scheduled, whom it will benefit, what quality level should be maintained, and what the budget will be. AACSB: Reflective Thinking Bloom's: Understand Learning Objective: What is a Project? Level: Easy 37. A temporary endeavor undertaken to create a unique product, service, or result is a(n) _...
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