Project Management exam.
Part I: The first part will carry a weight of 50% of the total grade.
1. Which of the following can be included in scoring models for selecting projects?
a)
potential profitability of the project
b)
potential impact on the firm’s competitive position
c)
the organization’s ability to market the output of a project
d)
All of the above can be included
e)
only a and b above
2. If the initial investment in a project is $100,000 and the expected annual net profit for the
project is $20,000, the payback period is:
a)
5 years
b)
4 years
c)
One fifth of a year
d)
10 years
e)
insufficient information to determine the payback period
3. Which of the following is NOT a characteristic of a project?
a)
They are unique.
b)
They are routine.
c)
They have specific due date.
d)
They have a specific deliverable.
e)
They have a purpose.
4. The project manager is responsible to:
a)
the parent organization
b)
the project team
c)
the project’s client
d)
the project manager’s immediate supervisor
e)
all of the above
5. What is the primary purpose of creating a work breakdown structure?
a)
to draw the project plan as a chart or tree
b)
to make sure important tasks aren’t overlooked
c)
so that all team members can see what others are working on
d)
to assign budget numbers to tasks
e)
to identify important precedence relationships
6. Which of the following is used to show linkages between people and tasks?
a)
the Work Breakdown Structure
b)
the RACI Matrix
c)
the Project Action Plan
d)
the Project Resource Diagram
e)
the Concurrent Engineering Chart
7. Which of the following is NOT a sub-process associated with risk management? a)
b)
c)
d)
e) risk identification
risk measurement
qualitative risk analysis
quantitative risk analysis
risk response planning 8. Which of the following is NOT true regarding top-down budgeting?
a)
It is based on the collective judgments of top and middle managers.
b)
Overall project costs are estimated by top and middle managers and then passed
on
c)
to the next lower level.
d)
The overall budget cost is generally not very accurate.
e)
Overlooking small but important tasks can lead to a serious budgetary problem.
f)
All of the above are true concerning top-down budgeting.
9. Which of the following is NOT an element of the Gantt chart?
a)
actual progress
b)
variance of the critical path
c)
the current date
d)
scheduled milestones
e)
all of the above are elements
10. Which of the following is typically used as the best estimate of task duration?
a)
expected time
b)
pessimistic time
c)
optimistic time
d)
most likely time
e)
none of the above
11. In MS Project, in order to set a deadline for a particular task, which of the following
is the proper sequence from the Task Information dialog box?
a) General > Percent Complete
b) Resources > Assignment Owner
c) Advanced tab > Calendar
d) Advanced tab > Deadline
12. Why is it necessary to consider the learning curve of resources on a project?
a) to estimate labor costs properly
b) to improve project team morale
c) because it always takes less time to do a task after someone has done it a few times
d) collective bargaining contracts require it
e) All of the above 13. The name given to the budget process that aggregates income and expenditures across
projects is:
a) activity-oriented budget
b) top-down budget
c) bottom-up budget
d) program-oriented budget
e) activity-based costing
14. Which of the following linkages is used to start two or more activities at the same time?
a) finish-to-start
b) start-to-start
c) finish-to-finish
d) start-to-finish
e) They can all be used to start two or more activities at the same time
15. Altering the specifications of an ongoing project is referred to as
a) suboptimization
b) scope creep
c) a virtual project
d) projectitis
e) PMI
16. During project formation stage, the major sources of conflict are all of the following
except:
a) Priorities
b) Procedures
c) Technical
d) Schedules
17. The first unit produced by a manufacturer required 6 hours. If the industry uses a 90
percent learning rate, how long should the fourth unit take?
18. Because project budgeting is for a special case and the organization’s budgeting process is
for routine work, the project manager need NOT be familiar with the organization’s
accounting system. (True/False)?
19. The Major Deliverables section in Project Charter describe the details of the work
packages in the work breakdown structure (True/False)
20. A disadvantage of using the discounted cash flow method (or net present value) for
selecting projects is that it ignores all non-monetary factors associated with the project.
(True/False)?
21. If task duration estimates are carefully made, the project manager needs to only examine
the critical path when conducting a risk analysis. (True/False)? 22. The actual project duration will be known with certainty after the project is completed.
(True/False)?
23. In MS Project, what is the difference between the Resource column on the WBS
(including personnel needed by the project) and the Assigned To column? (no more than 100
words).
24. Contrast the project plan and the work breakdown structure. (no more than 100 words).
25. When activity times are known with certainty, the critical path is defined as the set of
activities on a path from the project’s start event to its finish event that, if delayed, will delay
the completion date of the project. Why must this definition be modified in situations where
the activity times are not known with certainty? Are there dangers associated with not
modifying the definition? (not more than 150 words
