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MGT150. PROJECT MANAGEMENT (MGT150) > TAKE ASSESSMENT: FINAL EXAM

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Final Exam

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The final exam contains 40 multiple-choice questions and 20 true/false questions. Please study the materials available to you before taking the test. For multiple-choice questions, identify the answer that is most correct. For ture/false questions, identify whether the statement is true or false. Make sure you have thought through your answers carefully before submitting the final exam.

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Question 1 text   Question 1

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Which of the following is an example of a project?

Question 1 answers

a. Maintaining e-mail addresses

b. Capacity planning

c. Submitting travel and expense reports

d. Sending monthly reports to top management

Question 2 text   Question 2

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An effective project manager must:

Question 2 answers

a. Tell his team members what to do

b. Be the most capable person on the team technically

c. Be focused on achieving results

d. Not trust his team members to achieve results without his personal attention to detail

Question 3 text   Question 3

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A key characteristic of an effective project team is that:

Question 3 answers

a. Members have graduate degrees in project management

b. Members come from the same professional background

c. Members see themselves as stakeholders in the project

d. Members adhere to a prescribed pecking order

Question 4 text   Question 4

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A challenge of the matrix project organization is that:

Question 4 answers

a. Team members are full of ego

b. Team members are selected from the same functional area

c. Team members have divided loyalties

d. It enables functional managers to provide career guidance to their workers

Question 5 text   Question 5

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A key weakness of the Benefit-Cost ratio project selection mechanism is that:

Question 5 answers

a. It only focuses on things that can be measured

b. It takes time frame into consideration

c. It is too much based on subjective judgment

d. It does not entail prioritizing

Question 6 text   Question 6

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A major strength of task Gantt charts is that they can:

Question 6 answers

a. Offer a sophisticated model of a project

b. Show how many resources will be used on the project

c. Show the interdependencies of tasks

d. Show actual versus planned schedule status

Question 7 text   Question 7

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If you want to shorten the length of a project, you must:

Question 7 answers

a. Shorten the critical path

b. Shorten the free float

c. Spend more money

d. Cut back on the features you plan to deliver

Question 8 text   Question 8

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The critical path:

Question 8 answers

a. Provides the duration of a project

b. Has the shortest duration on a project

c. Is the most expensive path to implement

d. Contains the project's most significant tasks

Question 9 text   Question 9

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A tool that graphically shows cost variance is:

Question 9 answers

a. A chart of accounts

b. A code of accounts

c. A histogram (also called a resource loading chart)

d. A cumulative cost curve (also called S-curve)

Question 10 text   Question 10

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Which of the following methods involves performing tasks in parallel?

Question 10 answers

a. Crashing

b. Fast tracking

c. Leveling

d. Hammocking

Question 11 text   Question 11

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Top-down estimates (also called parametric estimates):

Question 11 answers

a. Are based on historical trends

b. Can be derived from the WBS

c. Can be determined by analyzing work packages

d. Provide accurate assessments of project costs

Question 12 text   Question 12

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Bottom-up estimates:

Question 12 answers

a. Are based on historical trends

b. Can be derived from the WBS

c. Must employ Monte Carlo simulation

d. a and c

Question 13 text   Question 13

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Definitive estimates are generally derived from:

Question 13 answers

a. Bottom-up estimates

b. Top-down estimates

c. Expert judgment cost estimates

d. Order of magnitude estimates

Question 14 text   Question 14

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The resource planning tool that enables us to identify who we need to carry out what tasks is called:

Question 14 answers

a. A resource Gantt chart

b. A resource matrix (also called the responsibility chart)

c. A resource ogive

d. A resource loading chart (also called a resource histogram)

Question 15 text   Question 15

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Which of the following shows resource allocation over time?

Question 15 answers

a. Resource Gantt chart

b. Resource matrix

c. S-Curve

d. Resource leveling

Question 16 text   Question 16

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What is the function of a change control board (CCB) in configuration management?

Question 16 answers

a. To assess the management impacts of change requests

b. To initiate changes needed on the project

c. To focus on the technical implication of change requests

d. To approve change requests coming from senior management

Question 17 text   Question 17

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Good functional requirements

Question 17 answers

a. Describe how the deliverable should be developed

b. Provide detailed technical insights into what the deliverable will do

c. Describe what the deliverable looks like and what it should do

d. Are created after development of the technical specifications

Question 18 text   Question 18

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The type of management whose focus is on activities whose variances lie outside the acceptable range is:

Question 18 answers

a. Management by Objectives

b. Management by Exception

c. Management by Walking Around

d. Management by Control Limits

Question 19 text   Question 19

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Which of the following is a characteristic of an effective reporting system?

Question 19 answers

a. SMART

b. KISS

c. MBO

d. LOWBALLING

Question 20 text   Question 20

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Which of the following is an elapsed time task?

Question 20 answers

a. Paint is drying

b. A painter paints the wall

c. Software is being written

d. A sandwich is being made

Question 21 text   Question 21

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An autocratic management style:

Question 21 answers

a. Is effective in most project management situations

b. Is effective in highly routine efforts

c. Is effective in high flux, state-of-the-art projects

d. Will lead to the tyranny of the majority

Question 22 text   Question 22

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A project team structure that closely reflects the physical structure of the deliverable is known as:

Question 22 answers

a. Egoless

b. Specialty

c. Surgical

d. Isomorphic

Question 23 text   Question 23

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The purpose of mid-project evaluation is:

Question 23 answers

a. Continual monitoring of budget and estimates

b. To focus on achievement of individual element of the project plan

c. To determine whether the original objectives are still relevant

d. To re-baseline the project budget

Question 24 text   Question 24

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If the latest time you can start a task is five hours into the project, and the earliest time is three and a half hours into the project, how much slack (also called float) does the task have?

Question 24 answers

a. 0.5 hours

b. 1.5 hours

c. 2.5 hours

d. 8.5 hours

Question 25 text   Question 25

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In risk management, insurance is an example of:

Question 25 answers

a. Risk avoidance

b. Risk deflection

c. Risk acceptance

d. Contingency planning

Question 26 text   Question 26

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A four step risk assessment process reflecting standard risk management good practice consists of:

Question 26 answers

a. Risk identification, Risk deflection, Risk impact analysis, Risk monitoring and control

b.  Risk acceptance, Risk impact analysis, Risk response planning, Risk monitoring and control

c. Risk deflection, Contingency planning, Risk impact analysis, Risk monitoring and control

d. Risk identification, Risk impact analysis, Risk response planning, Risk monitoring and control

Question 27 text   Question 27

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Structured Walk-Through is a methodology used in:

Question 27 answers

a. PERT

b. GERT

c. VERT

d. Project Evaluation

Question 28 text   Question 28

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If review of a project's status indicates that EV = $400, AC = $400, and PV = $500, the project is:

Question 28 answers

a. On budget, behind schedule

b. On budget, ahead of schedule

c. Over budget, behind schedule

d. Over budget, ahead of schedule

Question 29 text   Question 29

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The poor man's hierarchy is a method for:

Question 29 answers

a. Project estimation

b. Project scheduling

c. WBS construction

d. Project selection

Question 30 text   Question 30

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According to PMI, a WBS should focus on

Question 30 answers

a. Tasks

b. Deliverables

c. Interrelationships among activities

d. Cost of the project

Question 31 text   Question 31

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If EV = $300, AC = $400, and the project budget is $1,000, what is the estimated final cost of the project (this is known as EAC, estimate at complete)?

Question 31 answers

a. $750

b. $1,000

c. $1,250

d. $1,333

Question 32 text   Question 32

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Which of the following is a scope planning tool?

Question 32 answers

a. Benefit/cost analysis

b. WBS

c. Earned Value analysis

d. Fast tracking

Question 33 text   Question 33

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In resource planning, one of the issues that needs to be considered is:

Question 33 answers

a. Staff empowerment

b. Technical requirements of the project

c. Theory X management principles

d. Theory Y management principles

Question 34 text   Question 34

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The bottom-most level of the WBS -- the level at which project budget and schedule data are captured -- is called:

Question 34 answers

a. Work package

b. Code of accounts

c. Budget baseline

d. Change control level

Question 35 text   Question 35

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Scope creep means:

Question 35 answers

a. Needs emergence and identification

b. Uncontrolled changes to a project's requirements during project execution

c. Migration of project needs to requirements

d. Imprecise scope statement

Question 36 text   Question 36

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Configuration management is a:

Question 36 answers

a. Methodology for working closely with customers by developing and updating requirements for faster response to changing customer needs

b. Methodology for ensuring that requirements evolve with evolving customer requirements

c. Methodology for specifying requirements at the outset and for controlling very tightly any changes to them

d. Methodology for specifying requirements at the outset and for facilitating any changes to them with minimum customer input

Question 37 text   Question 37

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Rapid prototyping is a methodology for:

Question 37 answers

a. Specifying requirements at the outset and for controlling very tightly any changes to them

b. Specifying requirements at the outset and for facilitating later changes to them with minimum customer in put

c. Triggering early warning of unauthorized changes to the original prototype to enable project management to take remedial actions

d. Working closely with customers by creating and updating prototypes that respond to customer input

Question 38 text   Question 38

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Ensuring a one-to-one correspondence between specification items and general design items is a feature of:

Question 38 answers

a. Scope statement definition

b. WBS construction

c. Rapid prototyping

d. Configuration management

Question 39 text   Question 39

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Under what conditions may a project manager accept a change request?

Question 39 answers

a. If the request has no effect on project objectives, deadlines, or resources

b. If the request has no effect on project objectives, although it has effects on deadlines and resources

c. If the request is coming from a valued customer

d. If the request is from the Chief Executive Officer

Question 40 text   Question 40

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Which of the following is not an activity carried out during project closeout?

Question 40 answers

a. Reassignment of project staff

b. Preparation of the project's baseline

c. Reassignment of material resources

d. Preparation of user manuals

Question 41 text   Question 41

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When crashing a project, we typically choose critical path tasks whose costs of crashing are highest.

Question 41 answers

True

False

Question 42 text   Question 42

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The astute project manager typically uses only one management style in order not to confuse his/her teammates.

Question 42 answers

True

False

Question 43 text   Question 43

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Concurrent engineering involves overlapping tasks and phases to accelerate a project's schedule.

Question 43 answers

True

False

Question 44 text   Question 44

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A work package is to be found at the summary level of the WBS.

Question 44 answers

True

False

Question 45 text   Question 45

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Milestones, like tasks, consume resources.

Question 45 answers

True

False

Question 46 text   Question 46

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In project management, the level of uncertainty plays a major role in determining the adequacy of a project plan.

Question 46 answers

True

False

Question 47 text   Question 47

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Using working time or elapsed time to calculate the time it will take to complete a task produces the same results.

Question 47 answers

True

False

Question 48 text   Question 48

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Needs recognition is the first stage of the needs-requirement life cycle.

Question 48 answers

True

False

Question 49 text   Question 49

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Functional requirements provide us with detailed technical specifications.

Question 49 answers

True

False

Question 50 text   Question 50

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A key objective of change control in configuration management is to keep track of actions taken in response to change requests.

Question 50 answers

True

False

Question 51 text   Question 51

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Under rapid prototyping (also called application prototyping), the customer actually sees and works with the deliverable as it evolves.

Question 51 answers

True

False

Question 52 text   Question 52

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There is a definite link between the level of risk an enterprise encounters and project time frame.

Question 52 answers

True

False

Question 53 text   Question 53

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When we have objective data on the probability of an event, we are involved with decision making under certainty.

Question 53 answers

True

False

Question 54 text   Question 54

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The Theory X approach to managing workers is a classic example of a top-down view of how people should be managed.

Question 54 answers

True

False

Question 55 text   Question 55

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A laissez-faire management style may lead to a ship without rudder syndrome.

Question 55 answers

True

False

Question 56 text   Question 56

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An objective of prototyping is to minimize life-cycle cost.

Question 56 answers

True

False

Question 57 text   Question 57

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A modern view in Human Resource Management is that positive motivation results from an opportunity to achieve and experience self-actualization.

Question 57 answers

True

False

Question 58 text   Question 58

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Confidence in the accuracy of a cost estimate increases when top-down and bottom-up estimates converge.

Question 58 answers

True

False

Question 59 text   Question 59

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Internal Rate of Return (IRR) is the discount rate that sets the present value of cash outflow equal to the present value of cash inflow.

Question 59 answers

True

False

Question 60 text   Question 60

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A project can be terminated prematurely because the original objectives may no longer be valid.

Question 60 answers

True

False

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