Exam 1: Project Management Concepts

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List examples of three projects.

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Answers will vary.Responses should include a specific objective that is achieved through a unique set of interrelated tasks and the effective utilisation of resources.
Remember, a project is an endeavour to achieve a specific objective through a unique set of interrelated tasks and the effective utilisation of resources.

A project is completed through a number of repetitive tasks.

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False

A project is initiated when a need is identified by a contractor.

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False

A project objective is the tangible end product that the project team must produce or deliver.

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Give an example of a project.

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The Department of Transport hired a company to build a six-lane highway between two cities.This is an example of a project.

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A project is an endeavour to achieve a specific objective through a unique set of non-related tasks and the effective utilisation of resources.

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The types and quantities of resources to be used for the activities are the base for the estimated project cost.

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Why should feedback be obtained from a project's sponsor?

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When establishing the project objectives, the objective must be agreed upon by the project sponsor.

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A project's stakeholders will always include only representatives from the sponsor's organisation.

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The amount the sponsor has agreed to pay for acceptable project deliverables is the project budget.

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The estimated duration of the project is dependent upon the sequence of activities.

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The schedule for a project specifies when each task should .

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A research company secured R20 million to evaluate the treatment of water in selected countries over the next three years.This is an example of a project.

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Projects documents are organised and archived in the

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Resources can include people, organisations, equipment, materials, and facilities.

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Corrective action must be taken for a project when

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People are the only resource used in a project.

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Globalisation changes the dynamics of a project and adds a layer of complexity that can reduce the risks of achieving the project outcome.

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