Question 1

1.

Project management is first and foremost:

Answer

a customer service challenge.

2.5 points

Question 2
1.

Acme uses no recognizable project management processes and has entertaining project meetings because each member has a unique way of reporting progress or lack thereof. Acme is most likely at the __________ level in the generic project management maturity model.
Answer

low

2.5 points

Question 3
1.

The same project managed in the same fashion may succeed in one organization but fail in another because __________ .
Answer

organizational context matters

2.5 points

Question 4
1.

Souder's project screening criterion that indicates an effective model must reflect organization objectives, including a firm's strategic goals and mission is called:
Answer

realism

2.5 points

Question 5
1.

Economic conditions are a part of an organization's:

Answer

external environment.

2.5 points

Question 6
1.

One practical step that should be taken in order for an organization to begin developing a core of project management professionals is to:
Answer

formalize the organization's commitment with training programs.

2.5 points

Question 7
1.

Which statement regarding the duties of leaders and managers is best?

Answer

Leaders embrace change while managers support the status quo.

2.5 points

Question 8
1.

Individual activities and their durations are developed during the __________ phase of the project life cycle.
Answer

planning

2.5 points

Question 9
1.

A champion that is an engineer, scientist, or similar person who is the driving force behind an idea is termed a(n):
Answer

creative originator.

2.5 points

Question 10
1.

Cleland's project stakeholder management cycle:

Answer

is a recurring cycle that allows new stakeholder to be considered at any time.

2.5 points

Question 11
1.

A normal cost is incurred when:

Answer

the aggressive baseline plan is adhered to.

2.5 points

Question 12
1.

Which statement regarding project selection is best?

Answer

Decision models have both objective and subjective factors. There exists a place for both subjective and objective inputs and decisions in any useful screening model.

2.5 points

Question 13
1.

The temporal context or space to which an individual is oriented is their:

Answer

time orientation.

2.5 points

Question 14
1.

The goals of a project are sometimes called __________.

Answer

deliverables

2.5 points

Question 15
1.

Companies that are structured by grouping people performing similar activities into departments are:
Answer

functional organizations.

2.5 points

Question 16
1.

Which worker's wages would constitute a direct cost for a construction project?
Answer

the brick mason

2.5 points

Question 17
1.

A good starting point for matching employees to project work would be:
Answer

conducting basic personality assessment.

2.5 points

Question 18
1.

The project management pearl of wisdom that declares, "If they know nothing of what you are doing, they assume you are doing nothing," means that:
Answer

stakeholders must be communicated with on a continual basis throughout the project's development.

2.5 points

Question 19
1.

A project management office is designed to oversee or improve the management of projects without stripping responsibility from the project manager.
Answer

TRUE

2.5 points

Question 20
1.

The most recent addition to the four criteria of project success is __________ .
Answer

client acceptance
2.5 points

Question 21
1.

"A product is introduced into a market, gains the acceptance of a fickle public, and finally is supplanted by a new and improved offering. This phenomenon is known as the:"
Answer

product life cycle.

2.5 points

Question 22
1.

Cost estimates that are based as a guideline on real numbers, or figures derived after the completion of preliminary design work, are:
Answer

feasibility estimates.

2.5 points

Question 23
1.

Project managers communicate with __________ .

Answer

a majority of stakeholders

2.5 points

Question 24
1.

A project screening criterion that allows the company to compare long term versus short term projects, projects with different technologies, and projects with different commercial objectives is:
Answer

capability

2.5 points

Question 25
1.

Estimates based on the assumption that historical data can be used as a frame of reference for current estimates are:
Answer

comparative estimates.

2.5 points

Question 26
1.

Which of these is NOT an element of emotional intelligence?

Answer

intelligence

2.5 points

Question 27
1.

Which of the following is NOT part of the triple constraint of project success?
Answer

strategy

2.5 points

Question 28
1.

"In general, product life cycles are becoming __________ and product launch windows are becoming __________."
Answer

"shorter, narrower"

2.5 points

Question 29
1.

Which of the following is accomplished through project management?

Answer

A software developer creates a new iPhone app.

2.5 points

Question 30
1.

Gizmo company compares the way they manage projects with the way rival Wazzo company manages projects. Gizmo company is engaged in __________ .
Answer

competitive benchmarking.

2.5 points

Question 31
1.

A large sample survey was used to ask a total of 2,615 managers within U.S. corporations what they considered to be the most important characteristic of effective leaders. The item that ranked #1 with an 83 percent selection rate was:
Answer

honest.

2.5 points

Question 32
1.

The project plan is supported by the work breakdown structure (WBS), the _________, and the __________ .
Answer

"budget, schedule."

2.5 points

Question 33
1.

Which of the following is a non-traditional role of a project champion?

Answer

cheerleader

2.5 points

Question 34
1.

A budget containing disaggregated figures across the schedule when work is planned is a:
Answer

time-phased budget.

2.5 points

Question 35
1.

A project manager may also be the project champion.

Answer

TRUE

2.5 points

Question 36
1.

Effective comparative estimates rely most heavily on:

Answer

true comparability between the current project and previous project work.

2.5 points

Question 37
1.

An activity with a learning rate of 0.9 takes 20 hours for the first iteration. How long will it take to complete this task for the 10th time?
Answer

14 hours

2.5 points

Question 38

1.

Which of these is typically a recurring cost?

Answer

logistics

2.5 points

Question 39
1.

An advantage of top-down budgeting is:

Answer

that top management estimates of project costs are often quite accurate, at least in aggregate.

2.5 points

Question 40
1.

A __________ is a temporary endevor undertaken to create a unique new product or service.

Answer

project

Question 41

A writer estimates it will take three months to generate spiffy documents to accompany a seminal work in operations management. He grossly underestimates the time required and misses his deadline by two months. This estimate was:
Answer

subjective and inaccurate

2.5 points

Question 42
Which of the following is a traditional duty of a project champion?
Answer

technical understanding

2.5 points

Question 43

An options model could be used when financial criteria would change significantly over time.
Answer

TRUE

2.5 points

Question 44
Because projects managed under a project portfolio management scheme may be independent of each other, it is not necessary to consider resource use when deciding to pursue any single project.
Answer

FALSE

2.5 points

Question 45

A project typically has _________ .

Answer

a defined start and end date.

2.5 points

Question 46

The tip of the pyramid for corporate strategic elements is __________ .

Answer

objective

2.5 points

Question 47

Personnel costs comprise one of the highest sources of project expense.

Answer

TRUE

2.5 points

Question 48

"Atkinson suggests that all groups that are affected by a project, otherwise known as __________, should have a hand in assessing project success."
Answer

stakeholders
2.5 points

Question 49
Options models are used to assist in project selection decisions __________
Answer

when major risks dominate the decision, and the company may not recover the money it invests in the project.

2.5 points

Question 50

"Detailed specifications, schematics, and schedules are all developed during the __________ stage."
Answer

planning

2.5 points

Question 51

The tendency of employees in a functionally organized company to become fixated on their own concerns and work assignments to the exclusion of the needs of other departments is known as:
Answer

siloing.
2.5 points

Question 52

"Strategic management is the science of formulating, implementing, and evaluating __________ decisions."
Answer

cross-functional

2.5 points

Question 53
Once most of the design work is complete, at a point when the scope and capabilities of the project are quite well understood, a __________ may be developed.

Answer

definitive estimate

2.5 points

Question 54

"The solution to external and internal problems that has worked consistently for a group and that is therefore taught to new members as the correct way to perceive, think about, and feel in relation to these problems is known as:"
Answer

organizational culture.

2.5 points

Question 55

The order of magnitude cost estimate is used when:

Answer

information or time is scarce.

2.5 points

Question 56

"The PMO with minimal support to the project manager, ensuring only consistent tracking and monitoring is the:"
Answer

weather station model.

2.5 points

Question 57
Motivation ultimately comes from:
Answer

within each team member.

2.5 points

Question 58

Which of these is typically a nonrecurring cost?

Answer

site study

2.5 points

Question 59

The first step in Block's framework of the political process as applied to stakeholder management is to:
Answer

assess the environment

2.5 points

Question 60

"Projects are the __________ of corporate strategy, because they turn strategy into action."
Answer

stepping stones

2.5 points

Question 61
The Bennis article on competencies that determine a project leader's success indicates that it is crucial to continually remind the team:
Answer

what is important.

2.5 points

Question 62
A budget that is created by starting with the work breakdown structure (WBS), determining costs for each work package, and then adding these costs together is:
Answer

bottom-up budgeting.

2.5 points

Question 63

Projects are __________-focused.

Answer

customer
2.5 points

Question 64

"Lockheed Corporation's name for a small, autonomous group of people who research and develop a project primarily for the sake of radical innovation."
Answer

skunkworks

2.5 points

Question 65
A plan that identifies the allocated resources, the project's goals, and the schedule that allows an organization to achieve those goals is:
Answer

the project budget.

2.5 points

Question 66

Which project has the faster Payback Period?

Answer

"Machine C costs $10,000 and will save $5,000 per year. "

2.5 points

Question 67

The Profile Model plots a graph on a:

Answer

risk-return pair of axes.

2.5 points

Question 68
There are many factors in project selection and screening. A commercial factor might be:
Answer

the long-term market dominance.

2.5 points

Question 69

A dual hierarchy is the salient feature of a:

Answer

matrix structure.

2.5 points

Question 70

Which of these duties is more reflective of a leader's tasks?

Answer

motivation and inspiration

2.5 points

Question 71
The Analytical Hierarchy Process is being employed in a project selection decision. One major (first level) criteria, Market Opportunity, receives a weighting value of 40%, which is split into three second level subcriterias: short-term (55%), intermediate-term(35%), and long-term (10%). What is the intermediateterm Market Opportunity?
Answer

(0.40) x (0.35)

2.5 points

Question 72
A recent study of new product development projects at a variety of organizations revealed that:
Answer

about 95% of the successful projects had a clearly identifiable champion.

2.5 points

Question 73

Successful project management firms rely on home runs and narrowly concentrated efforts since specialization creates name recognition and market share.
Answer

FALSE
2.5 points

Question 74

Project management entails crossing __________ and __________ boundaries.

Answer

"functional, organizational"

2.5 points

Question 75

Which statement about stakeholders is most accurate?

Answer

"Stakeholders can potentially impact, positively or negatively, project development."

2.5 points

Question 76

The efficient frontier in a profile model is the set of options that offers a maximum return for a given level of risk or a minimum risk for every level of return.
Answer

TRUE

2.5 points

Question 77
A simple scoring model for project evaluation requires:
Answer

score values assigned to each criterion in terms of its rating.

2.5 points

Question 78

Unplanned costs incurred when steps are taken to speed up project's completion are called:
Answer

expedited costs.

2.5 points

Question 79

The most important thing to remember when using project selection models is to be consistent and objective.
Answer

TRUE

2.5 points

Question 80

"A project that results in ""doing the wrong things well"" has ignored the __________ ."
Answer

customer satisfaction goal.