PM FINAL

 
Project selection criteria are typically classified as:
Financial and non-financial
Short-term and long-term
Strategic and tactical
Required and optional
The assessment of the external and internal environments is called _______ analysis.
SWOT analysis
Competitive
Market
Strategic
Which of the following financial models are typically included in project selection? =Multiple +Choice=0
Payback
Net present value
Internal rate of return
Both A and B are correct
A, B, and C are all correct
A project management system provides a framework for launching and implementing project activities within a ______ organization.
Matrix
Balanced
Weak
Sponsor
Parent
Factors in identifying cultural characteristics include all the following except
Norms.
Customs.
Values.
Both B and C are correct.
A, B, and C are all correct.
Who is responsible for determining what tasks have to be done in a matrix project management structure?
The functional manager
The project manager
Both Are Responsible
This is no pattern of who takes responsibility
The project structure that is ranked as most effective for developing new products is ______ organization.
Functional
Balanced matrix
Weak matrix
Strong matrix
Project
The structure that manages projects within the existing organizational structure is __________ organization.
Functional
Balanced matrix
Weak matrix
Strong matrix
Which of the following combinations represents the extremes of project organization?
Strong matrix and balanced matrix organizations
Functional and dedicated project teams
Project and balanced matrix organizations
Project and strong matrix organizations
Strong matrix and functional organizations
Matrix management violates the management principle of
Span of control
Unity of command
Parity principle
Empowerment
All are negotiated issues except:
Who will do the task?
Where will the task be done?
Why will the task be done?
Is the task satisfactorily completed?
The total cost of the project
Which of the following is a disadvantage of functional project management organization?
Lack of motivation of project team members
Longer project duration
Lack of focus on the project
Both b and c are correct
A, B, and C are all correct
The easiest and most commonly used technique for analyzing risks is _____ analysis.
Probability
Scenario
Risk/rewrad
Impact
Detailing all identified risks, including descriptions, category, and probability of occurring, impact, responses, contingency plans, owners and current status is called:
Management reserves
Change control
Contingency reserves
Risk register
The initial step in the risk management process is to
Determine the level of acceptable risk
Assess the risk potential
Identify the risks
Set aside budget funds for managing the risks
An uncertain event or condition that, if it occurs, has a positive or negative effect on a project objectives is termed ______.
A Random chance
A disaster
A Risk
A Hazard
The cost impact of a risk event occurring as a project proceeds through its life cycle tends to
Slowly rise
Rise sharply and then level out
Remain about the same
Slowly drop
The two scales of a risk severity matrix measure
Time and cost
Likelihood and impact
Impact and cost
Time and impact
Which of the following is not one of the steps in the risk management process?
Risk response development
Risk assessment
Risk identification
Risk tracking
Which of the following is identified to cover major unforeseen risks and, hence, are applied to the total project?
Budget reserves
Management reserves
Time buffers
None of the above
The risk management tool that is divided into three color-coded zones representing major, moderate, and minor risks is the risk
Responsibility matrix
Scenario assessment
Impact assessment
Risk severity matrix
The chances of a risk event occurring as a project proceeds through its life cycle tends to
Slowly rise
Rise sharply and then level out
Remain about the same
Slowly drop
Funds that are for identified risks that have a low probability of occurring and that decrease as the project progresses are called ______ reserves.
Management
Budget
Contingency
Padded
Which of the following is an advantage of a functional project management organization?
Maximum flexibility in the use of staff
Good integration across functional units
Shorter project duration
Strong motivation of project team members
The project manager has the responsibility to answer which of the following questions?
What task has to be done?
Who will do the task?
How will the task be done?
How well has the functional input been integrated?
Why will the task be done?
Kim is reviewing a proposed project. The scope of the project is narrow with a lot of in-depth expertise required and it will take a short period of time to complete. The best choice for organizing the project is ________ organization.
Functional
Balanced matrix
Weak matrix
Strong matrix
Project
Organizations have difficulty in creating a system for managing projects because
Contrary to typical operations, projects are one-time efforts
Projects are multidisciplinary while organizations are usually departmentalized by discipline
Projects are not focused on profits
Both a and b are correct
A, B, and C are all correct
Which of the following is a common multicriteria selection model?
Checklist
Net Present Value
Weighted criteria model
Both A and C are correct
All of these are common multicriteria selection models
A good project management system provides for defining the interface between the project team and the organization in all the following areas except
Authority
Development of project team members
Allocation of resources
Integration of the project into the organization
Which of the following would not be classified as an organizational opportunity?
Increasing product demand
Excellent employees
Emerging markets
Demographics
All of these are organizational opportunities
Which of the following would not be classified as an organizational threat?
Slowing of the economy
A maturing life cycle
Poor product quality
Government regulations
All of these are organizational threats
Which of the following is not true of multi-weighted scoring models?
Will include quantitative criteria
Will include qualitative criteria
Each criterion is assigned a weight
Projects with higher scores are considered more desirable
All of the above are true
All are negotiated issues except:
Who will do the task?
Where will the task be done?
Why will the task be done?
Is the task satisfactorily completed?
The total cost of the project
MegaComputers, Inc. Has assigned a project manager for each of the five new-product teams. The managers as well as the project team members work on the projects on a full-time basis. The structure being used is ________ organization.
Functional
Balanced matrix
Weak matrix
Strong matrix
Project
Projectitis is most likely to occur in the _______ organization structure.
Functional
Balanced matrix
Weak matrix
Strong matrix
Project
Organizational culture is best explained as organizational
Management style
Hierarchy
Background
Personality
_________ organization is a hybrid form in which a horizontal project management structure is overlaid in the normal functional hierarchy.
Functional
Matrix
Project
Balanced
A, B, and C are all correct
Which of the following is not one of the classifications for assessing a project portfolio?
Sacred cow
Bread-and-butter
Pearls
Oysters
White elephants
Which of the following terms is often used to denote a project that a powerful, high-ranking official is advocating?
Sacred cow
Pet project
Political necessity
Special undertaking
In the beginning the focus of risk management should be on risks that
Impact the whole project
Impact the critical path
Are known
Have the greatest cost impact
Which of the following is not one of the potential responses to a specific risk event?
Mitigating
Retaining
Ignoring
Transferring
A project team that operates with a full-time project manager as a separate unit from the rest of the organization is structured as a ________ organization.
Balanced matrix
Projectized
Weak matrix
Strong matrix
Elizabeth is considering how to structure a project team that will not directly disrupt ongoing operations. The project needs to be done quickly and a high level of motivation will be needed in order to do that. For this situation, the ______ organization would be the best choice.
Functional
Balanced matrix
Weak matrix
Strong matrix
Project
Bill is working on a project involving the upgrading of a management information system. The project is being managed by the information systems department with coordination with other departments occurring through normal channels. He is working in a _________ organization.
Weak matrix
Balanced matrix
Functional
Strong matrix
A list of questions that address traditional areas of uncertainty on a project is termed a risk
Risk profile
Questionnaire
Research
Checklist
Computers R Us is concerned about keeping project costs low and wants to be sure that all pools of expertise are used. Additionally they want to minimize duplication of efforts across projects. Their best choice for project management structure is the _______ organization structure.
Functional
Balanced matrix
Weak matrix
Strong matrix
Project
Which of the following structures is referred to in popular literature as a projectized form of organizations?
Functional organization
Balanced matrix organization
Weak matrix organization
Strong matrix organization
Projectized organization
The project structure that is ranked as least effective is _______ organization
Functional
Balanced matrix
Weak matrix
Strong matrix
The attempt to recognize and manage potential and unforeseen trouble spots that may occur when a project is implemented is known as
Risk forecasting
Risk management
Contingency planning
Scenario analysis
Which of the following would not be considered a threat?
Inflation
Meeting the project schedule
International disruptions
Economic conditions
From the list below, which is not a primary characteristic of organization culture?
Control
Team emphasis
History
Conflict tolerance
Risk tolerance
In which of the following is the balance of authority strongly in favor of the functional =Multiple Choice managers?
Weak matrix
Balanced matrix
Strong matrix
Strong
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