Question 1

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

Accepted Answer

A)  risk development 
B)  risk management 
C)  risk mitigation 
D)  risk avoidance

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

Projects documents are organized and archived in the

Accepted Answer

A)  initiating phase. 
B)  planning phase. 
C)  performing phase. 
D)  closing phase.

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

The answer of Why should feedback be obtained from a...

Question 10

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

Accepted Answer

The answer of How could currency fluctuations and exchange rates...

Question 11

A project is completed through a number of repetitive tasks.

Accepted Answer

A) True 
 B)False

Question 12

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.

Accepted Answer

A) True 
 B)False

Question 13

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.

Accepted Answer

The answer of The project management process involves two major...

Question 14

Resources are identified and selected in the

Accepted Answer

A)  initiating phase. 
B)  planning phase. 
C)  performing phase. 
D)  closing phase.

Question 15

Give an example of a project.

Accepted Answer

The answer of Give an example of a project....

Question 16

Corrective action must be take for a project when

Accepted Answer

A)  actual progress to the planned progress shows the progress is ahead of schedule. 
B)  the technical specifications have been met. 
C)  the actual costs of the activities is less than the funds received for the work completed. 
D)  the actual progress is less than the planned progress.

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A)  Starting-up a restaurant 
B)  Creating a website for a company 
C)  Raising money for a disaster relief trip 
D)  Emptying the recycling everyday

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?