Project Management Objectives Set 1

Fill in the Blank Types

1. The probability of completing the project can be estimated based upon the ….Normal distribution curve.
2. In the initial stage of the project the probability of completing the project is….Low
3. The entire process of a project may be considered to be made up on number of sub process placed in different stage called the….Work Breakdown Structure (WBS)
4. Each component of the software product is separately estimated and the results aggregated to produce an estimate for the overall job….Bottom-up
5. Tool used for comparison of the proposed project to complete projects of a similar nature whose costs are known…..Analogy
6. Following are the characteristics of Project Mindset…..Time, Responsiveness, Information sharing, Processes, structured planning
7. Following is (are) the component(s) of risk management…..Risk Assessment, Risk Control, Risk Ranking
8. “Devising and maintaining a workable scheme to accomplish the business need” is…..Planning process
9. Controlling the changes in the project may affect….The progress of the project, Stage cost, Project scope

• The tool(s) for changing a process…..Change Management System (CMS), Configuration Management (CM)
• A Project is a set of activities which are networked in an order and aimed towards achieving the goals of a project.
• Resources refers to…. Manpower, Machinery, Materials
• Developing a technology is an example of…..Project
• The project life cycle consists of…..Understanding the scope of the project, Objectives of the project, Formulation and planning various activities.
• The responsibilities of the project manager…..Budgeting and cost control, Allocating resources, tracking project expenditure
• The phases of Project Management Life Cycle: Analysis and evaluation, Marketing, Design, Inspection, testing and delivery
• Design phase consist of: Input received, Output received

18. Project performance consists of…Time, Cost, and Quality
19. Five dimensions that must be managed on a project: Features, Quality, Cost, Schedule, Staff
20. Resource requirement in project becomes constant while the project is in its 80% to 95% progress stage.

Choose One Type

Q. Which of these is not one of the constraints of a project?

1. Scope
2. Resources
3. Team
4. Budget

Q. Which of the following is not correct about initial phase of a project?

1. The cost associated at the beginning of the project is highest.
2. Stakeholders have maximum influence during this phase
3. The highest uncertainty is at this stage of the project.
4. All the above statements are correct.

Q. The project you are managing has nine stakeholders. How many channel of communications are there between these stakeholders?

1. 9
2. 8
3. 45
4. 36

Ans: (9*8) / 2 = 36

Q. Which of the following is not an example of formal communication?

1. Contract
2. email
3. Project status report
4. Status meeting

Q. Project with a total funding of Rs. 100,000 finished with a BAC value of Rs. 95,000. What term can BEST describe the difference of $5,000?

1. Cost Variance
2. Management Overhead
3. Management Contingency Reserve
4. Schedule Variance

Q. If the Earned Value is equal to Actual Cost, it means:

1. Project is on budget and on schedule
2. Schedule Variance Index is 1
3. There is no schedule variance
4. There is no cost variance

Comment:  EV – AC = Cost Variance. Therefore if EV = AC, the Cost Variance is zero (i.e. Project is on budget (but not necessarily on schedule, as there is not enough information on schedule variance)

Q. Which of the following is the most important element of Project Management Plan that is useful in HR Planning process:

1. Risk Management activities
2. Quality Assurance activities
3. Activity Resource requirements
4. Budget Control activities

Comment:  Activity Resource requirements is a primary input to HR Planning. It is used to determine the human resource needs of the project.

Q. Which of the following types of Organizational Charts can be BEST used to track project costs:

1. Hierarchical-type Organizational Chart
2. Organizational Breakdown Structure
3. Resource Breakdown Structure
4. Responsibility Assignment Matrix

Comment: RBS can be aligned with Organization’s accounting system

Q. Process Analysis is a function of:

1. Performance Analysis
2. Quality Metrics
3. Process Improvement Plan
4. Quality Improvement Plan

Q. Root Cause Analysis relates to:

1. Process Analysis
2. Quality Audits
3. Quality Control Measurements
4. Performance Measurements

Q A planning phase for an engineering component generated 80 engineering drawings. The QA team randomly selected 8 drawings for inspection. This exercise can BEST be described as example of:

1. Inspection
2. Statistical Sampling
3. Flowcharting
4. Control Charting

Q. Amit has joined as the Project Manager of a project. One of the project documents available to Andrew lists down all the risks in a hierarchical fashion. What is this document called?

1. Risk Management Plan.
2. List of risks.
3. Monte Carlo diagram.
4. Risk Breakdown Structure.

Comment:  Hierarchical description of risks is called Risk Breakdown structure.

Q. During which stage of Risk planning are risks prioritized based on probability and impact?

1. Identify Risks
2. Plan Risk responses
3. Perform Qualitative risk analysis
4. Perform Quantitative risk analysis

Comment:  Risk probability and impact are defined during Qualitative risk analysis

Q. Activity Definition is typically performed by which of the following:

1. Project Manager who created the WBS
2. Project Team Members responsible for the work package
3. Project Officer
4. Project Stakeholder

Q. Which of the following does NOT generate changes to the Project documents:

1. Define Activities
2. Sequence Activities
3. Estimate Activity Resources
4. Estimate Activity Durations

Q. Which of the following may generate a milestone list:

1. Define Activities
2. Sequence Activities
3. Estimate Activity Resources
4. Estimate Activity Durations

Q. Schedule activity may begin 10 days before the predecessor activity finishes. This is an example of:

1. Finish-to-Start
2. Start-to-Finish
3. Start-to-Start
4. Finish-to-Finish

Q. Ram Consultancy is planning to buy ten desktops for Rs. 45000 each from a leading computer store. Which type of contract will get signed in this case?

1. Purchase Order
2. Cost plus Fee
3. Fixed cost
4. Time and Material

Q. Radha is a Project Manager. She is coordinating a bidder conference to allow vendors to get clarification on the work that needs to be performed. Which phase of Project Management is in progress?

1. Conduct Procurements
2. Plan Procurements
3. Control Procurements
4. Close Procurements

Comment: During the Conduct Procurements process, bidders can clarify their doubts using bidder conference.

Q. The process of Control Procurements falls under which process group

1. Planning
2. Closing
3. Monitoring and Control
4. Executing

Comment: Control procurement is part of Monitoring and Control process group