stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Project Management Flashcards | StudBud
Explore
/
Project Management
Project Management
41 terms
·
StudBud Administration
·
37 plays
An introductory Course
Flashcards
41 cards
F
Practice quiz
P
Host live
L
Questions
41
Answers
1
What two dimensions should you use when evaluating project risks?
negative and positive
Probability and impact
priority and interest
possibility and impact
2
The team develops a ___by first clearly defining all the activities it needs to perform.
work flow diagram
schedule
WBS
plan
3
The project team begins to develop a ____ by first defining all activities it needs to perform
WBS
schedule
work flow diagram
Plan
4
In earned value management, a baseline includes ____ (WBS tasks), time, and cost information
Schedule
Scope
Source
Sequence
5
In a RACI chart, each task may have multiple ____ entries.
R, A, or I
A, C, or I
R, C, or I
R, A, or C
6
An example of weighted score model in project management is the supplier evaluation matrix.
TRUE
FALSE
7
There can be multiple critical paths identified in a project.
TRUE
FALSE
8
The task of creating a project charter is normally performed during project planning.
FALSE
TRUE
9
To track project progression, earned values calculated can be represented graphically.
FALSE
TRUE
10
A project is a temporary endeavor undertaken to create __________ product, service, or result.
A uniform consistent
A unique
A consistent
A common
11
Providing mentoring and training for project managers and other stakeholders is best practice.
FALSE
TRUE
12
Acceptable quality standards are always decided by the project manager.
The Team
All Stakeholders
None of the above
The Project Manager
13
__________ subtracting the project costs from the benefits and then dividing by the costs.
Net Present Value (NPV) is the result of
Internal Rate of Return is the result of
Net Cost is the result of
Return on investment (ROI) is the result of
14
who determines that all required work in a project has been done correctly and satisfactorily
Sponsor
Team
Project Manager
ALL
15
The main purpose of project planning is to:
guide project execution
clarify roles and responsibilitiesb
obtain funding for the project
keep senior managers informed
16
More than one project can be executed in the identical way.
FALSE
TRUE
17
The project management framework includes ten process groups and five knowledge areas.
FALSE
TRUE
18
Document that formally recognizes the existence of a project & shows objectives
project charter
stakeholder register
kick off meeting
business case
19
One of the main tasks normally involved in project initiation is to identify project __________
alliances
shareholders
risks
stakeholders
20
Once a project is completed, the products created are integrated into operations
TRUE
FALSE
21
The majority of project management processes occurs as part of the
All the stages
Initiation process group
Planning process group
Execution process group
22
What two dimensions should you use when evaluating project risks?
priority and interest
Probability and impact
possibility and impact
negative and positive
23
Project teams develop a __________ to coordinate all other project plans.
Project deliverables plan
project management plan
master project plan
strategic project plan
24
What is the most important characteristic or attribute of an effective project manager?
A leader by example
A visionary leader
A decisive leader
A highly communicative leader
25
Many organizations claim that using project management __________.
Increases costs
Cost is not important indicator
Has no effect on cost
Decreases costs
26
A business __________ is a document that provides justification for investing in a project.
charter
scenario
investment
case
27
__ is an estimate of work performed expressed in terms of the budget authorized for that work
Expected value
Total Cost
Earned Value
Total Value
28
Milestones are points along the project timeline that have no affixed cost or duration assigned
TRUE
FALSE
29
Which of the following is an attribute of a project?
projects are ubiquitous
projects are developed using progressive evaluation
projects have uncertainty
projects never have a primary customer or sponsor
30
Financial Value is the best indicator for organizations to determine which project to pursue.
TRUE
FALSE
31
The project manager has total control over stakeholders and their level of engagement.
TRUE
FALSE
32
Best practices are categorized by five stages of project management
FALSE
TRUE
33
In which process group do you normally produce the main deliverables of a project?
closing
monitoring and controlling
executing
planning
34
which of the five project mgt process groups is the least time and money usually spent?
initiating
executing
monitoring and controlling
planning
35
What risk response strategy are you using when you take out an insurance policy?
risk acceptance
risk sharing
risk avoidance
risk transference
36
You can create a __________ grid as part of a stakeholder analysis.
power/interest
RAM
probability/impact
RACI
37
What pre-initiating task can be done to justify investing in a project?
business plan
loan application
business case
project charter
38
___ deliverable-oriented grouping of work involved that defines total scope of the project.
A Network Diagram is a...
A WBS is a...
A Gantt chart is a...
A Weighted Score Card is a...
39
You take out an insurance policy in case a risk event occurs. What is the risk response?
risk avoidance
risk transference
risk sharing
risk acceptance
40
_____ scoring model provides a system for selecting projects based on many criteria.
A Strategic
A Value
A Customized
A Weighted
41
A project has an indefinite beginning and a definite end
FALSE
TRUE