Exam 1: Project Management Concepts

The level of effort is the same for all four phases of the generic project life cycle.

The project scope document should include a list of deliverables and associated acceptance criteria.

The following mechanisms help to assure quality expectations are met:

Describe what it means to 'plan the work and then work the plan.'

A project utilises various resources to carry out the tasks.

The sponsor provides funds to achieve the project.

The collapse of a retaining wall could be a risk to the project objective for a garden construction project.

Expected benefits and outcomes may be included in the project objective.

A project has an unlimited time frame.

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

While performing the work, all the activities in the baseline plan must be performed in accordance with

The outcome of a project is a tangible end product.

A project involves degree of uncertainty that remains the same as the project progresses.

The project objective is usually defined in terms of end product, schedule, and budget.

The amount of estimated resources helps to determine the estimated durations.

The project objective requires completing the project work scope and producing all the deliverables by a certain time and within budget.

Introduction of a new process to ship packages for a company is an example of a project objective.

Costs for resources on a project could include all the following except

Determining the market for a product for a gain of 5% market share within 18 months and R200 000 budget.This is an example of a project objective.

The project budget includes costs for each activity plus other project costs such as administrative costs and overhead costs.