Exam 1: Project Management Concepts

A ______________ plan must be developed that identifies and assesses potential risks, determines the likelihood of occurrence and potential impacts of risks, and delineates responses for dealing with risks

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

Projects documents are organized and archived in the

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

Quality expectations are only defined at the start of the project.

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

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

A satisfied customer is a benefit of implementing project management techniques.

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

How could currency fluctuations and exchange rates impact the accomplishment of the project objective and customer satisfaction?

A project is completed through a number of repetitive tasks.

A research firm secured $2 million to evaluate the treatment of water in selected countries over the next three years. This is an example of a project.

The project management process involves two major functions: first establishing a plan and then executing that plan to accomplish the project objective. Describe how the project manager can help these two functions be successful.

Resources are identified and selected in the

Give an example of a project.

Corrective action must be take for a project when

The schedule for a project is a timetable with only start times for tasks.

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

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

Which of the following is not an example of a project?