How might a budget be agreed when managing a project?

Obtaining detailed quotes for each aspect of the job

How does closure contribute to project success?

It shows deliverables have been met

Which of the following indicates the successful reduction of stationery by 20% within 4 months?

Stationery orders reduced by 21% within 4 months

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Project Management

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Questions 12

Answers

1
What does the work breakdown structure focus on in project management?
Planning
Scoping
Monitoring
Reporting
2
Who develops a top-down budget?
Procurement team
Senior Management team
Administration team
Lower Management team
3
How might a budget be agreed when managing a project?
Speculating costs for the entire project
Estimating the cost on a similar past project
Calculating costs on interest rates
Obtaining detailed quotes for each aspect of the job
4
What is a product breakdown structure used to plan in a project?
Resources
Remuneration
Tasks
Time
5
Which tool is used to identify the different tasks required when managing a project?
Risk analysis
Scheduling
Product breakdown structure
Contingency plan
6
When managing a project what are the three main constraints to consider?
Time, cost, scope
Time, staff, equipment
Management, budget, milestones
Management, facilities, outcomes
7
How does closure contribute to project success?
It shows that testing has taken place
It shows deliverables have been met
It ensures resources are re-used
It ensures an under-spend
8
Why is it important to ensure the necessary equipment is available when managing a project?
It will save equipment loan cost
To ensure delays are minimised
It is not possible to get any equipment at late notice.
Planning for all equipment increases costs
9
What makes a successful project?
Laid back leadership
Committed team
Overspent budget
Inadequate planning
10
Which of the following indicates the successful reduction of stationery by 20% within 4 months?
Stationery orders reduced by 22% within 6 months
Stationery orders reduced by 21% within 4 months
Stationery orders reduced by 17% within 4 months
Stationery orders reduced by 15% within 2 months
11
Why is it important to recognise risks that may occur when managing projects?
To save money
To record on the assessment form
To warn others of what is going to happen
To control them in advance
12
A potential event which could have a negative effect on a project's objectives describes the
project contingency plan
project log
project opportunity
project risk

Project Management Flashcards | StudBud