Deck 3: Project Management

Question 1

Quality control involves evaluating the progress of the project on an ongoing basis to ensure that it meets the identified quality standards.

Answer 1

False

Question 2

In a cost-plus-incentive-fee contract,the provider is reimbursed for all allowable costs.

Answer 2

True

Question 3

The timing of a project is frequently a critical constraint.

Answer 3

True

Question 4

Project risk is an uncertain event or condition that,if it occurs,has a positive or a negative effect on a project objectiv.

Question 5

Capital items typically have a useful life of several years.

Question 6

At any point in time,an organization may have dozens or even hundreds of active projects aimed at accomplishing a wide range of results.

Question 7

According to the Project Management Institute,project managers must coordinate five areas of expertise.

Question 8

For many managers,their ability to manage projects effectively is a key to their success within an organization.

Question 9

The quality of a project that delivers an IT-related system is exclusively defined in terms of the system's performance.

Question 10

Today,many organizations recognize project management as one of their core competencies.

Question 11

The success rate for IT-related projects is generally high.

Question 12

A mission attempts to achieve specific business objectives and is subject to certain constraints such as total cost and completion date.

Question 13

With the cost-reimbursable contract,the buyer and provider agree to a total fixed price for a well-defined product or service.

Question 14

With time and material contracts,the true value of the contract is defined when the contract is approved.

Question 15

A clear connection between business objectives,goals,and projects is not needed for a successful project.

Question 16

Poor procurement management can result in serious project problems and even a project's outright cancellation.

Question 17

Projects come to a definite end once the project objectives are met or the project is cancelled.

Question 18

Project integration management is perhaps the most important knowledge area.

Question 19

Projects have the same tasks and objectives as operational activities.

Question 20

The smaller the scope of the project,the more difficult it is to meet cost,schedule,quality,and stakeholder expectations.

Question 21

About ____ percent of all IT projects are estimated to be clear failures.

A) 15
B) 26
C) 51
D) 64

Question 22

____ are the people most directly affected by the project.

A) Project managers
B) Employees
C) Stakeholders
D) End users

Question 23

A project ____ is a senior-level executive who is a strong advocate for the project.

A) sponsor
B) champion
C) manager
D) director

Question 24

Quality ____ involves checking project results to ensure that they meet identified quality standards.

A) assurance
B) follow up
C) control
D) planning

Question 25

Under ____ contracts,the buyer pays the provider for both the time and materials required to complete the contract.

A) fixed-priced
B) lump-sum
C) time and material
D) cost-reimbursable

Question 26

The ____ decision involves comparing the pros and cons of in-house production versus outsourcing of a given product or service.

A) production-or-outsource
B) inside-or-outside
C) make-or-buy
D) pro-or-con

Question 27

____ is money spent to purchase assets that appear on the organization's balance sheet and that are depreciated over the life of the asset.

A) Capital
B) Principal
C) Assets
D) Funds

Question 28

The project ____ are the people involved in the project or those affected by its outcome.

A) participants
B) employees
C) stakeholders
D) managers

Question 29

A(n)____ is a temporary endeavor undertaken to create a unique product,service,or result.

A) task
B) assignment
C) mission
D) project

Question 30

A ____ contract requires paying the provider an amount that covers the provider's actual costs plus an additional amount or percentage for profit.

A) fixed-priced
B) lump-sum
C) time and material
D) cost-reimbursable

Question 31

About ____ percent of all IT projects are "challenged," meaning that they are over time,over budget,and/or lacking critical features and requirements.

A) 15
B) 26
C) 51
D) 64

Question 32

"____" in an IT project context means that the project met schedule and budget constraints and delivered all critical features and requirements.

A) Completion
B) Success
C) Competency
D) Service

Question 33

A ____ is an outline of the work to be done to complete the project.

A) work breakdown structure
B) work outline structure
C) work breakdown outline
D) work structure

Question 34

On the basis of data released by the Bureau of Economic Analysis,part of the U.S.Department of Commerce,the Project Management Institute estimates that project spending in the U.S.public and private sectors combined exceeds $____ trillion per year.

A) two
B) five
C) eight
D) ten

Question 35

____ items are nondepreciable items that are consumed shortly after they are purchased.

A) Cost
B) Asset
C) Capital
D) Expense

Question 36

Project ____ is a definition of which work is and is not included in a project.

A) span
B) scope
C) range
D) capacity

Question 37

In a ____ or cost-plus-percentage of cost contract,the provider is reimbursed for all allowable costs and receives a percentage of the costs as a fee.

A) cost-plus-fee
B) cost-plus-fixed-fee
C) cost-plus-incentive-fee
D) cost-incentive-fee

Question 38

Worldwide,project-related spending is estimated to be almost $____ trillion per year.

A) two
B) five
C) eight
D) ten

Question 39

Five highly interrelated parameters define a project- ____.

A) scope,cost,management needs,quality,and user expectations
B) scope,cost,time,management needs,and user expectations
C) scope,cost,time,quality,and user expectations
D) scope,cost,time,quality,and management needs

Question 40

____ management includes defining the work that must be done as part of the project and then controlling the work to stay within the scope to which the team has agreed.

A) Work
B) Scope
C) Project
D) Work flow

Question 41

A(n)___________________ contract includes an agreed-upon hourly rate and unit price for the various materials to be used.

Question 42

Project ____________________ is a key determinant of the other project factors,and must carefully be defined to ensure that the project meets its essential objectives.

Question 43

Researchers Hamel and Prahalad defined the term core __________________ to mean something that a firm can do well and that provides customer benefits,is hard for competitors to imitate,and that can be leveraged widely to many products and markets.

Question 44

A hallmark of experienced project managers is that they follow a deliberate and systematic process of ____________________ to identify,analyze,and manage project risks.

Question 45

____________________ management is about making the most effective use of the people involved with the project.

Question 46

The ____________________ of a project includes all the capital,expenses,and internal cross-charges associated with the project's buildings,operation,maintenance,and support.

Question 47

____________________ management includes developing and managing the project budget.

Question 48

Discuss the elements of human resource management.

Question 49

The ____________________ of a project can be defined as the degree to which the project meets the needs of its users.

Question 50

Explain project integration management.

Question 51

A(n)____________________ is a legally binding agreement that defines the terms and conditions of the buyer-provider relationship.

Question 52

Project ____________________ requires the coordination of all appropriate people,resources,plans,and efforts to complete a project successfully.

Question 53

Explain what a project is.

Question 54

To avoid problems associated with a change in project ____________________,a formal scope change process should be defined before the project begins.

Question 55

Describe quality management.

Question 56

____________________ includes estimating a reasonable completion date,developing a workable project schedule,and ensuring the timely completion of the project.

Question 57

__________________ activities are repetitive activities performed over and over again.

Question 58

____________________ are the way that much of an organization's work gets done.

Question 59

It is critical to a project's success to identify expectations of key ____________________ and team members.

Question 60

How can the quality of a project can be defined?