Project Management – Week 8 Final Exam

Question 1

A ______ is a document that formally recognizes the existence of a project and provides direction on the project’s objectives and management.

• Selected: Project charterThis answer is correct.
• Contract
• Business case
• Project management plan

You are correct!  The project charter is a document that formally recognizes the existence of a project and provides direction on the project’s objectives and management. Project charters should be one or two pages long and may refer to other documents, such as a business case, as needed.

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Question 2

There are four participants in your upcoming meeting. How many lines of communication are there?

• Selected: 6This answer is correct.
• 4
• 8
• 16

You are correct!  There are four participants in the meeting and six lines of communication. The formula for this is 4(4 – 1) ÷ 2 = 6. As the number of people involved increases, the complexity of communications increases because there are more communications channels or pathways through which people can communicate. The number of communications channels = n(n-1)/2, where n is the number of people involved in the project.

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Question 3

Once risks have been identified and analyzed, this tool helps you determine an overall risk score.

• Selected: Probability impact matrixThis answer is correct.
• Risk list
• Risk register
• Risk template

You are correct!  A probability impact matrix multiplies the probability score by the impact score to come up with an overall risk score. The risk list is a list of potential risk events, and the risk register is similar to the risk list but includes more details about the risk events.

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Question 4

Risk Identification is the process of which of the following?

• Quantifying the impact to the project of a potential risk event
• Selected: Determining and documenting potential risk events on the projectThis answer is correct.
• Assigning a probability that a particular risk event will occur
• Defining the action to take in response to a risk event

You are correct!  Risk Identification is the process of determining and documenting the potential risk events that could occur on the project. Quantifying the impacts and assigning a probability both occur during the risk analysis process, and risk responses are developed during the risk response process.

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Question 5

Which of the following is not part of the triple constraint of project management?

• Meeting scope goals
• Meeting time goals
• Selected: Meeting communications goalsThis answer is correct.
• Meeting cost goals

You are correct!  Meeting communications goals is not a project constraint; it should rather be an enabler of projects. Options a, b, and d represent the three dimensions of the triple constraint. All projects are generally carried out under cost, time and scope constraints know as triple constraint.

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Question 6

This document is produced at the end of the project and reports the final project outcomes.

• Lessons learned
• Final status report
• Selected: Project close reportThis answer is correct.
• Post – mortem analysis

You are correct!  The project close report is produced at the end of the project, and it serves as the final status report. It summarizes the project goals, costs, schedule, lessons learned, and historical data.

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Question 7

Which three of the following options are process groups in the project management process groups?

• Risk
• Selected: InitiatingThis answer is correct.
• Selected: Monitoring and ControllingThis answer is correct.
• Procurement
• Scope
• Selected: PlanningThis answer is correct.

You are correct!  The five process groups are Initiating, Planning, Executing, Monitoring and Controlling, and Closing. Options a, d, and e are Knowledge Areas.

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Question 8

Why should you spend time developing a solid communications plan? Choose three.

• To set stakeholder expectations
• To set aside time for your own needs
• Selected: To keep vendors informedThis answer is correct.
• To understand where the blame lies when something goes wrong
• Selected: To keep stakeholders updated on your progressThis answer is correct.
• Selected: To keep team members informed of project progressThis answer is correct.

You are correct!  A communication plan is developed to determine who needs communication, when and in what format, and the frequency of the communications. Once the plan is developed, it’s used to update stakeholders, team members, vendors, and others who need information on the project. According to PMI (2013), project communications management pertains to relevant processes needed for timely and appropriate generation, collection, distribution, storage, retrieval, and ultimate disposition project data.

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Question 9

A quality technique that analyzes similar activities as a means of comparison is known as what?

• Cost – benefit analysis
• Cost of quality
• Flowcharting
• Selected: BenchmarkingThis answer is correct.

You are correct!  Benchmarking is a technique that uses similar activities as a means of comparison. Cost-benefit analysis analyzes the costs vs. the benefits, cost of quality determines the costs to meet the quality objectives, and flowcharting is a graphical technique that maps out activities or processes.

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Question 10

The Initiating process includes which task?

• Assigning work to project team members
• Sequencing project activities
• Selected: Approving a project and authorizing work to beginThis answer is correct.
• Coordinating resources to complete the project work

You are correct!  The Initiating process concerns the formal acceptance of the project and authorizes the project manager to start the project work. Assigning work to project team members, sequencing project activities, and coordinating resources occur in the Planning process.

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Question 11

Which process group normally requires the most resources and time?

• Initiating
• Planning
• Selected: ExecutingThis answer is correct.
• Monitoring and controlling
• Closing

You are correct!  Normally, executing tasks requires the most resources and time, followed by planning tasks. Executing the project involves taking the actions necessary to ensure that activities in the project plan are completed, thus this process group normally requires the most resources and time.

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Question 12

Which risk management process involves prioritizing risks based on their probability and impact of occurrence?

• Planning Risk Management
• Identifying Risks
• Selected: Performing Qualitative Risk AnalysisThis answer is correct.
• Performing Quantitative Risk Analysis

You are correct!  Performing qualitative risk analysis involves prioritizing risks based on their probability and impact of occurrence. After identifying risks, project teams can use various tools and techniques to rank risks and update information in the risk register. The main outputs are project documents updates.

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Question 13

Which of the following statements is false?

• An analysis project life cycle is a collection of project phases.
• Selected: A product life cycle is the same as a project life cycle.This answer is correct.
• The waterfall approach is an example of a predictive life cycle model.
• Agile is an example of an adaptive life cycle model.

You are correct!  Project life cycle is a collection of project phases, such as concept, development, implementation, and close-out. Projects often develop products, which follow product life cycles. Examples of product life cycles for software development include the waterfall, spiral, incremental build, prototyping, RAD, and adaptive software development models.

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Question 14

The primary purpose of this activity is to collect and document lessons learned.

• Post-mortem analysis
• Selected: Post-project reviewThis answer is correct.
• Project closeout review
• Administrative Closure

You are correct!  The primary purpose of the post-project review is to collect and document lessons learned.  A post-mortem analysis occurs when a project is canceled or ends prematurely. Lessons learned are part of the Administrative Closure process, but other activities are involved in this process besides lessons learned.

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Question 15

Your project was canceled because of the redeployment of project resources. All of the following are true regarding this situation except for which one?

• All of the steps of project closeout should occur even though the project was canceled.
• A post-mortem should be conducted to determine the cause of the project cancelation and to document any lessons learned.
• Selected: This project ended because of addition.This answer is correct.
• Any completed deliverables should be turned over to the organization.

You are correct!  This project ended because of integration, not addition. All the steps of project closeout should occur for projects that are completed as well as those that are canceled. A post-mortem analysis is conducted for canceled projects to determine the cause of the cancelation or failure and to document lessons learned. Any completed deliverables should be turned over to the organization.

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Question 16

This risk analysis technique uses a complex mathematical approach to numerically analyze the probability and impact of risks.

• Selected: Quantitative Risk AnalysisThis answer is correct.
• Risk Impact Analysis
• Risk Probability Analysis
• Qualitative Risk Analysis

You are correct!  Quantitative Risk Analysis uses a completely mathematical approach to determine risk probability and impact. Qualitative Risk Analysis is subjective in nature. Risk impact analysis and risk probability analysis are performed using either Quantitative Risk Analysis or Qualitative Risk Analysis.

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Question 17

A person who is risk-seeking receives greater satisfaction when more payoff is at stake, and he is willing to pay a penalty to take risks.

• Selected:TrueThis answer is correct.
• False

You are correct!  Those who are risk-seeking have a higher tolerance for risk, and their satisfaction increases when more payoff is at stake. A risk-seeking person prefers outcomes that are more uncertain and is often willing to pay a penalty to take risks. A risk-neutral person achieves a balance between risk and payoff.

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Question 18

What does it mean to take a systems view of a project, and how does taking this view apply to project management?

• Systems thinking do not describe a holistic view of carrying out projects within the context of the organization
• A systems philosophy is part of a project charter
• The systems view of a project does not apply to project management
• Selected: A systems view describes a holistic and analytical approach to solving complex problems, including using a systems analysis and systems managementThis answer is correct.

You are correct!  Taking a systems view means looking at the big picture of how a particular project fits into the rest of the organization. A systems philosophy is an overall model for thinking about things as systems. A systems view describes a holistic and analytical approach to solving complex problems, including using a systems analysis and systems management. Therefore, projects must operate in a broad organizational environment, and project managers need to consider projects within the greater organizational context.

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Question 19

Which of the following is not a process in project communications management?

• Planning communications management
• Controlling communications
• Selected: Managing stakeholdersThis answer is correct.
• Managing communications

You are correct!  Project communications management includes planning communications management, managing communications, and controlling communications. Managing stakeholders is not part of communications process.

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Question 20

Communications Planning is the process of which of the following?

• Scheduling a regular meeting for the project team
• Developing a distribution list for the stakeholders
• Selected: Identifying the people or groups that need information on your projectThis answer is correct.
• Creating a template to report project status

You are correct!  Communications planning is the process of identifying who needs to receive information on the project, what information they need, and how they will get that information. Scheduling a project team meeting, developing distribution lists, and creating a project status template are all activities that might be a result of the communications plan.