Deck 12: Project Management and Strategic Planning

Question 1

Every project is constrained by three fundamental, interrelated forces: time, cost, and scope.

Answer 1

True

Question 2

Project charters are drafted in kickoff meetings.

Answer 2

False

Question 3

A difference between projects and processes is that processes are unique, whereas projects are recurring.

Answer 3

False

Question 4

Disaster recovery refers to all the procedures, documentation, and resources the organization puts into place to prepare for a disaster and recover the technical infrastructure.

Question 5

Binding, formal agreements with vendors and consultants are essential to the success of a project.

Question 6

A project is a temporary activity that is launched for a specific purpose to carry out a particular objective.

Question 7

It is good practice for project managers to spend more time on the executing processes than any other processes.

Question 8

Executing processes involve coordinating efforts that ensure the tasks on the work breakdown structure are carried out properly.

Question 9

Change management refers to a structured approach to the transition employees must make as they switch from their existing work processes to new ones.

Question 10

Deliverables refer to the products, documents, or services that will be delivered to the sponsor during the course of the project.

Question 11

Escalation of commitment refers to the tendency of people to increase features in a project in order to accommodate excess resources.

Question 12

A key document that authorizes the project is the project charter which shows that the project has the commitment and support of senior management.

Question 13

The planning processes lay the groundwork for the project by clarifying the value it will bring to the organization, setting its objectives, and estimating the project's length, scope, and cost.

Question 14

Scope creep refers to a strategy in which everyone in a project team agrees upon what features the project will involve.

Question 15

The acceptable-use policy covers laws on harassment, fraudulent use, and any attempts to disrupt information systems or circumvent authentication.

Question 16

Introduction of new information systems involves change, especially when some processes are drastically revised or eliminated through business process management efforts.

Question 17

The closing phase of a project should also include a process that documents the lessons learned from the project.

Question 18

Lack of customization and high stakeholder involvement are amongst some of the most cited reasons for project failure.

Question 19

The critical path in a Gantt chart is the shortest path through the project and identifies those tasks that can be delayed without affecting the finish date.

Question 20

Business continuity refers to the willingness of an organization to pull the plug on a project in which huge sums and resources need to be invested.

Question 21

Which of the following is a difference between projects and processes?

A)Projects are permanent in nature, whereas processes are temporary.
B)Projects are unique and one of a kind, whereas processes are recurring.
C)Projects need to be tweaked so that the underlying activities are streamlined, whereas processes involve uncertainty.
D)Project durations can be predicted easily, whereas process durations are difficult to predict.

Question 22

Which of the following statements is true of a project charter?

A)It generally includes the work breakdown structure.
B)It is a document prepared to monitor the progress of the project.
C)It documents the experiences and knowledge gained during the project.
D)It shows that the senior management support the project.

Question 23

A ________ is a document that authorizes a project and includes a clear statement of objectives, estimated start and end dates, the names of the relevant people and their roles, a tentative budget, criteria for success, and other pertinent information.

A)project charter
B)burn down chart
C)business case
D)project proposal

Question 24

A black swan refers to those favorable, external events which contribute to an organization's growth.

Question 25

A(n)________ is a temporary activity that is launched for a specific purpose, to carry out a particular objective.

A)project
B)system
C)process
D)milestone

Question 26

A kick-off meeting involves ________.

A)project stakeholders meeting one another to review the project charter
B)the project manager assessing the outcomes of the project and measuring its effectiveness
C)the project team convening together to submit a proposal for a project
D)project stakeholders meeting before the executing process is started

Question 27

Which of the following sets of processes is carried out first in project management?

A)executing process
B)initiating process
C)implementing process
D)monitoring process

Question 28

How does a project charter help in managing a project?

A)defines project metrics very clearly so there is no scope for change midway through project execution
B)helps make the project management process more informal and fosters greater collaboration
C)tracks the progress of the project and sets benchmarks for the project team to achieve
D)avoids unexpected surprises and leaves room for changes to meet organization's needs

Question 29

A ________ is a series of events designed to deliver a product or service that is recurring in nature.

A)process
B)milestone
C)project
D)task

Question 30

A(n)________ is an initiating process where stakeholders meet one another, sometimes for the first and only time.

A)kickoff meeting
B)board meeting
C)pre-bid meeting
D)annual general meeting

Question 31

Which of the following functions does a project charter perform?

A)measuring the outcomes of the project
B)assessing the progress of the project
C)stating the reasoning behind initiating the project
D)estimating start and end dates for the project

Question 32

A confirmation bias is a rare human tendency to believe that an event was predictable even if it was not.

Question 33

The stage at which a project is conceived is known as the ________ process.

A)initiating
B)planning
C)monitoring
D)controlling

Question 34

The stage at which early phase managers identify the major players in the project, including the sponsor, the project manager, the team members, and other stakeholders, is known as the ________.

A)executing process
B)initiating process
C)monitoring process
D)controlling process

Question 35

Which among the following is the best example of a project?

A)backing up organizational data periodically
B)performing weekly information system maintenance
C)updating software programs regularly
D)opening a new branch office

Question 36

Which of the following is true of the triple constraint in projects?

A)The time constraint is the most critical of the three constraints in projects.
B)The three fundamental project constraints are insulated from each other.
C)Changes in one fundamental constraint affect the other constraints as well.
D)Cost constraints take precedence over time and scope constraints in all projects.

Question 37

Which of the following is a characteristic of a process?

A)a specific, unique purpose
B)elements of uncertainty
C)temporary endeavor
D)recurring in nature

Question 38

Which of the following is an accurate definition of a project?

A)a temporary activity to carry out a particular objective
B)a series of events that continually replicate a product
C)an undertaking with a general objective of improving an organization
D)a recurring sequence of events that facilitate the creation of a service

Question 39

The ________ process lays the groundwork for the project by clarifying the value it will bring to the organization, setting its objectives, and estimating the project's length, scope, and cost.

A)controlling
B)initiating
C)planning
D)executing

Question 40

Which of the following best describes a project charter?

A)a document which lists the outcomes of a project
B)a document that tracks the progress of a project
C)a key document that authorizes a project
D)an informal document that assesses the effectiveness of a project

Question 41

In which of the following project management areas is a Gantt chart most likely to be used?

A)scope assessment
B)time management
C)human resource management
D)risk management

Question 42

Which of the following best defines a critical path in a project?

A)the longest project path comprised of tasks that do not affect the finish date if they are delayed
B)the longest project path that identifies tasks that cannot be delayed without affecting the finish date
C)the path obtained by adding the time required for tasks of the shortest duration
D)the shortest path undertaken in a monitoring process in which there is no fixed deadline

Question 43

Which of the following best describes deliverables in a project?

A)products, documents, or services that will be handed over to the sponsor
B)standards expected by a client from the project team
C)guidelines that a manager formulates for a team to follow
D)resources needed for smooth execution of a project

Question 44

The term ________ refers to products, documents, or services that will be handed over to the sponsor during the course of the project.

A)resources
B)standards
C)deliverables
D)benchmarks

Question 45

________ track progress from start to finish, pinpointing any deviations from the plan.

A)Initiating processes
B)Executing and coordinating processes
C)Planning processes
D)Monitoring and controlling processes

Question 46

The ________ refers to the longest course through the project, which identifies those tasks that cannot be delayed without affecting the finish date.

A)graph bandwidth
B)critical path
C)long tail
D)degree sequence

Question 47

The ________ process in project management focuses on devising how the project will be executed.

A)monitoring
B)planning
C)controlling
D)closing

Question 48

In the ________ phase, project managers pay close attention to reports and dashboards that might show early warning signs that some tasks have fallen behind.

A)initiating
B)executing
C)monitoring
D)planning

Question 49

A(n)________ is a document that clarifies which features are included in a project.

A)executive summary
B)business case
C)scope statement
D)mission statement

Question 50

________ in project management include all the coordinating efforts that ensure that tasks on the work breakdown structure are carried out properly.

A)Initiating processes
B)Designing processes
C)Planning processes
D)Executing processes

Question 51

Which of the following tools helps keep a project on track to meet its deadlines by listing tasks on a work breakdown schedule?

A)Smith chart
B)Nolan chart
C)Gantt chart
D)PERT network chart

Question 52

Which of the following is an example of an executing process?

A)defining milestones and goals
B)allocating work assignments
C)fixing project schedules
D)identifying deliverables

Question 53

Which of the following best describes the term scope creep?

A)a method of keeping track of a project's progress unobtrusively
B)the way in which project features are added in an uncontrolled way
C)the process through which a project's goals can be achieved much ahead of the deadline
D)a method of assessing the resource requirements for a project

Question 54

The term ________ refers to the way in which features are added in an uncontrolled way, often without considering the impact on the budget or timeline.

A)cone of uncertainty
B)scope creep
C)risk appetite
D)conceptual fusion

Question 55

Which of the following best defines predecessors in a work breakdown structure?

A)the tasks that are performed over a long period of time, side by side with new tasks
B)the tasks that need to be completed before a particular task can begin
C)the new tasks that are undertaken right after a long overdue task is completed
D)the tasks that are undertaken as a continuation of older, incomplete tasks

Question 56

Which of the following is true about work breakdown structure?

A)It is generally created during the executing process of a project.
B)A word processor is the best software package to create work breakdown structures.
C)Work breakdown structures are used only to plan and list the tasks a team must complete.
D)Gantt charts are generally used to show work breakdown structures.

Question 57

A ________ lists tasks on the work breakdown structure, along with each task's projected start and finish dates, in graphical format.

A)cluster diagram
B)Gantt chart
C)PERT network chart
D)conceptual graph

Question 58

Which of the following activities should project managers spend more time on?

A)planning and team building
B)communicating with shareholders
C)focusing on project execution
D)delegating very few tasks to subordinates

Question 59

A(n)________ is an orderly listing of actual tasks that a project team must complete to produce the project's deliverables.

A)work breakdown structure
B)business case
C)executive summary
D)mission statement

Question 60

The term ________ refers to a task in the work breakdown structure that needs to be completed before a particular task can begin.

A)subtask
B)successor
C)subroutine
D)predecessor

Question 61

The ________ phase in a project involves documenting lessons learned from the project, so that the experience is useful to other project teams and adds to the organization's knowledge base.

A)executing
B)planning
C)closing
D)initiating

Question 62

Which of the following is a critical success factor for projects?

A)involvement and buy-in from a niche segment of end users
B)a strategy to manage conflicts among stakeholders
C)a design strategy that helps isolate existing and old legacy systems from new systems
D)informal agreements with consultants and vendors to build trust

Question 63

The tendency to continue investing in a project, despite mounting evidence that it is not succeeding, often comes about because people mistakenly let sunk costs affect decision making rather than weighing the value of further investment. This tendency is known as ________.

A)zero-profit condition
B)escalation of commitment
C)progress trap
D)zero-sum game

Question 64

Which of the following is the most critical factor that contributes to failure of projects?

A)limited scope
B)low customization
C)high stakeholder involvement
D)unrealistic time frames

Question 65

A company requires its employees to include a certain disclaimer in their emails that states that the company is not responsible if recipients of emails rely on the advice provided by the employees. What potential threat does such a disclaimer protect the company from?

A)implied contractual obligations
B)transmission of viruses
C)negligent misstatements
D)employee misuse

Question 66

The ________ phase ideally involves wrapping up a project in an orderly way and a sponsor signing off that all deliverables have been received and accepted.

A)implementing
B)planning
C)closing
D)executing

Question 67

Which of the following challenges is typically a feature of the closing phase of a project?

A)motivating project stakeholders
B)documenting lessons learned
C)creating a work breakdown structure
D)implementing mitigation strategies

Question 68

Which of the following is a feature of a project's closing process?

A)identifying deliverables and components needed to achieve success
B)allocating work assignments and monitoring progress of the team
C)negotiating contracts and conducting research to achieve results
D)signing off by the sponsor that all deliverables have been accepted

Question 69

________ is a continuous process that oversees all the projects for an organization, selecting which projects to pursue and culling those projects that have a poor prognosis.

A)Total quality management
B)Business process outsourcing
C)Project portfolio management
D)Change management

Question 70

Which of the following should a project manager ideally do to efficiently manage a project?

A)commit to delivering features that stakeholders are expecting even if timelines are narrow
B)allow end-users to learn from their mistakes instead of hand-holding after launch
C)avoid making unpopular decisions that might dismay the clients
D)communicate the time, cost, and scope constraints clearly as the project unfolds

Question 71

Which of the following best describes project portfolio management?

A)a process that oversees all projects and selects which projects to pursue
B)a process that integrates a company's project with a prospective external project
C)a process that creates and visualizes projects from scratch
D)a process that tracks the progress of projects and adjusts their scope accordingly

Question 72

One of the critical factors that contribute to the failure of projects is ________.

A)the limited scope of the project
B)the lack of executive support for the project
C)the low requirement for customization
D)the high stakeholder involvement in the project

Question 73

Which of the following statements is true about acceptable-use policies?

A)Penalties for violating a policy are decided by the organization, and will not be a legal issue.
B)Employees agree to the policy after accessing the organization's IT resources.
C)Policies are restricted to the organization's resources and do not concern personally-owned devices.
D)The surveillance and monitoring processes that are in place are also included in the policy.

Question 74

________ is a structured approach for the transition employees must make as they switch from their existing work processes to new ones.

A)Change management
B)Total quality management
C)Project portfolio management
D)Knowledge management

Question 75

The ________ encompasses services each employee will be provided, whether and how much they can utilize company resources for personal use, the kinds of surveillance that are in place, and reinforce legal requirements, such as prohibitions against unauthorized copying.

A)executive summary
B)acceptable-use policy
C)project charter
D)project proposal

Question 76

Which of the following best defines escalation of commitment?

A)the tendency to invest in a project when it offers increasing returns over a period of time
B)the tendency of employees to increase productivity at work when provided with incentives
C)the tendency of employees to quit an organization when their needs are being disregarded
D)the tendency to continue to invest in a project despite mounting evidence that it is not succeeding

Question 77

Which of the following best defines change management?

A)an approach to streamlining work processes to maintain universal codes
B)an approach that familiarizes new employees in an organization with work processes
C)an approach to the transition employees make as they switch from existing work to new processes
D)an approach to project management that ensures that project stakeholders do not deviate from the defined project objectives

Question 78

The ________ lays out rules about what employees are allowed to do with IT resources and what activities are disallowed.

A)executive summary
B)acceptable-use policy
C)project charter
D)project proposal

Question 79

Which of the following disclaimers would protect a firm from implied contract obligations in the event of an employee's email containing wording that implies a firm contract?

A)a disclaimer stating that any contract must be confirmed by the employee's manager
B)a disclaimer warning recipients against disclosing information contained in the email
C)a disclaimer warning recipients that they are responsible for checking the message for malicious content
D)a disclaimer that includes wording that the message is intended only for the addressee

Question 80

A real estate developer in the New Jersey area purchases a large tract of land and plans to build an apartment complex equipped with a golf course and other amenities. The developer is targeting the affluent software engineers from Manhattan who are looking for second homes. Halfway through the process of construction, recession hits the nation and many people lose their jobs. There are no takers for the apartments the developer is building, as homebuyers look for less expensive options. The developer, dismayed at the huge investment he has already made in the project, decides that it would be unwise to stop the project and plans to go ahead with it. The developer's reasoning is consistent with the idea of ________.

A)progress trap
B)post-purchase rationalization
C)buyer's remorse
D)escalation of commitment