Question 1

Projects should be evaluated against standards and by methods established at their completion,including procedures for monitoring,collecting,storing,and evaluating the history of the project.

Accepted Answer

Evaluating projects against established standards and utilizing appropriate monitoring and evaluation procedures is essential for ensuring successful project outcomes and continuous improvement. Storing and analyzing the history of the project can also provide valuable insights for future projects.

Question 2

All of the following are important outputs of project scheduling,EXCEPT:

Accepted Answer

Networks and paths are tools used in project scheduling, not outputs. Outputs focus on timing and critical activities.

Question 3

Any path that if delayed will delay the completion of the entire project is known as a:

Accepted Answer

A critical path is the path in a project network diagram that represents the longest duration between the start and finish of a project. Any delay on this path will delay the completion of the entire project, making it critical to project success. The other options (significant path, central path, and network path) do not accurately describe this concept.

Question 4

Which of the following is NOT an example of a project?

Accepted Answer

Building MP3 players for massive distribution is a repetitive, ongoing process, characteristic of operations, not a project, which is typically a temporary endeavor with a specific goal.

Question 5

Which of the following terms provides the basis for the project schedule,often formatted as a project Gantt chart?

Accepted Answer

The work breakdown structure (WBS) provides the basis for the project schedule by breaking down the project deliverables into manageable, smaller components. This helps to identify the tasks required to complete the project and their dependencies, which are then used to create the project schedule, often in the form of a Gantt chart. The critical path and float are aspects of project scheduling that are determined using the project schedule, and earned value is a method of measuring project progress.

Question 6

Among the reasons for the growth in project operations we find:

Accepted Answer

People now have more leisure time to follow and participate in projects, and more sophisticated technology has increased public awareness of project operations. These two factors have contributed to the growth in project operations. Additionally, the trend towards more customization for suppliers has made it important to meet their needs through project operations.

Question 7

The project life cycle typically has a stretched-s or an exponential form.

Accepted Answer

The project life cycle usually has a stretched-s form, where the project starts off slowly with planning and ramping up, then reaches peak performance during execution, before tapering off during project closure. However, it can also be linear or iterative in nature depending on the project type and methodology used.

Question 8

An optimal procedure for organizations to accept projects is to specify a return on investment (ROI)and fund only projects that meet this criterion.

Accepted Answer

While specifying a return on investment (ROI) criterion can be a useful tool in evaluating projects, relying solely on ROI may not capture the full value or strategic importance of a project. Other factors such as risk, alignment with organizational goals, and potential for innovation should also be considered.

Question 9

The amount of flexibility the project manager has in terms of starting and completing an activity is referred to as its:

Accepted Answer

Slack and Float are interchangeable terms that refer to the amount of flexibility the project manager has in starting and completing an activity without impacting the overall project schedule. Both terms are commonly used in project management, and they are calculated using the critical path method (CPM). Therefore, the correct answer is D, both A and B.

Question 10

Which of the following project categories typically seeks the development of a new generation of outputs?

Accepted Answer

Breakthrough projects typically seek the development of new and innovative outputs or products, rather than improving or expanding upon existing outputs (as in derivative projects) or creating a base for future projects (as in platform projects). R&D projects may also involve the development of new outputs, but this is not their sole focus.

Question 11

An event is a series of connected activities from the start to the finish of the project.

Accepted Answer

An event is typically a single occurrence or happening, often part of a larger project or series, but not a series of connected activities from start to finish.

Question 12

The amount of flexibility the project manager has in terms of starting and completing an activity is referred to as its slack.

Accepted Answer

Slack refers to the amount of time an activity can be delayed without affecting the project's overall completion date. It gives the project manager flexibility in scheduling and completing activities.

Question 13

Which of the following project categories might lead to the other project categories?

Accepted Answer

R&D projects often lead to new discoveries and innovations, which can then be developed into breakthrough projects, platform projects, or derivative projects.

Question 14

According to Goldratt,to complete a project on time,the highest priority should be given to the:

Accepted Answer

According to Goldratt's Critical Chain Project Management (CCPM) methodology, the highest priority should be given to the Critical Chain, which is the sequence of dependent tasks that determine the project's duration.

Question 15

When workers receive approval for a task based on inflated time estimate,they may perceive that they now have plenty of time to complete the task and therefore delay starting the task.What has this concept been called?

Accepted Answer

The concept of workers delaying starting a task when given an inflated time estimate is known as the "student syndrome." This is because students often procrastinate until the last minute when given a long deadline for an assignment, similarly to how workers might delay starting a task if they perceive they have plenty of time.

Question 16

The amount of time a project manager estimates it will take to complete the activity under ideal conditions is known as:

Accepted Answer

The amount of time a project manager estimates it will take to complete the activity under ideal conditions is known as the optimistic time. This estimate assumes no delays, no unforeseen issues, and everything runs smoothly.

Question 17

Which of the following statement(s)concerning probabilities of completion is/are incorrect?

Accepted Answer

The individual activity completion times do not have to be normally distributed for the probabilities of completion to be calculated. The Central Limit Theorem states that the distribution of sample means will approach a normal distribution as the sample size increases, regardless of the distribution of individual data points. Therefore, the distribution of a path's completion time will still be approximately normally distributed, even if the individual activity completion times are not normally distributed. Choices A, B, and C are all correct statements about probabilities of completion.

Question 18

The set of all project activities graphically interrelated through precedence relationships is known as a/an:

Accepted Answer

The set of all project activities graphically interrelated through precedence relationships is called a network diagram or network model. This diagram visually represents the project schedule and shows the sequence of the project activities and their dependencies. The network diagram is a key tool for project management as it helps in identifying the critical path, determining the project duration, and managing the project schedule. Options A, B, and D refer to individual components of the network diagram but do not capture the complete picture of the network diagram.

Question 19

Duration of critical path - path duration = __________?

Accepted Answer

Path slack is the difference between the duration of the critical path and the duration of any other path in the project schedule.

Question 20

Project charters should contain some level of information regarding which of the following elements:

Accepted Answer

Project charters should contain both the business case, goals, or scope (which represent the reasons for undertaking the project and what is expected to be accomplished) and an overview, general approach, schedules or milestones (which represent how will the project be carried out). Work breakdown structure and path dependencies are not necessarily required in a project charter, although they can be included if deemed necessary.

Quiz 6: Managing Process Improvement Projects