Project Management Multiple Choice Questions


ProjectManagement: Multiple Choice Questions

  1. The document that initially authorizes the project is the project charter

  2. Marching each description to the term which applies MOST

  1. Ensures that allocation of resources to projects is aligned with strategic focus and risk tolerance of the organization: project portfolio management

  2. Organization unit responsible for coordinating project management standards, processes and systems: project management office

  3. A group of related projects organized within a common management structure: Program management

  1. Stakeholder is a sponsor and project team

  2. In a projectized organization, the project team will not always have a ‘home’.

  3. Matching the activity to project management process group

  1. Breaking down the work into smaller, more manageable pieces: Planning

  2. Determine variances: Monitoring and Controlling

  3. Gather final lessons learned: Closing

  4. Finalize the project charter: Initiating

  1. What is not done during project initiation: Create a detailed project plan

  2. For a discount rate of 10%, the present value of $300,000 received 3 years from now: Less than $300,000

PV=(300000/1.1^3) = $225,394

  1. The continuous expansion of project requirements during the project is referred to as Scope Creep

  2. Qualitative risk analysis focusses on Probability and Impact

  3. Avoidance, mitigation and transfer are examples of risk responses