Q&A Hero

Q: _____ include formal and informal plans, policies, procedures, guidelines, information systems, financial systems, management systems, lessons learned, and historical information that can be used to influence a project's success.

Q: _____ factors include relevant government or industry standards, the organization's infrastructure, and marketplace conditions.

Q: A(n) _____ is a methodology that converts value drivers, such as customer service, innovation, operational efficiency, and financial performance, to a series of defined metrics.

Q: A(n) _____ is a tool that provides a systematic process for selecting projects based on many criteria.

Q: The _____ is the discount rate that results in an NPV of zero for a project.

Q: _____ is the result of subtracting the project costs from the benefits and then dividing by the costs.

Q: A positive NPV means the return from a project exceeds the _____, the return available by investing the capital elsewhere.

Q: _____ analysis is a method of calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time.

Q: _____ are new requirements imposed by management, government, or some external influence.

Q: _____ refer to chances to improve the organization.

Q: _____ refer to undesirable situations that prevent an organization from achieving its goals.

Q: _____ is a technique that uses branches radiating from a core idea to structure thoughts and ideas.

Q: A(n) _____ involves analyzing a company's strengths, weaknesses, opportunities, and threats, and is used to aid in strategic planning.

Q: _____ involves determining long-term objectives by analyzing the strengths and weaknesses, studying opportunities and threats, predicting future trends, and projecting the need for new products and services.

Q: _____ involves identifying and managing the points of interaction between various elements of the project.

Q: _____ involves coordinating all of the other project management knowledge areas throughout a project's life cycle.

Q: _____ involves identifying and controlling the functional and physical design characteristics of products and their support documentation, and ensures that the descriptions of the project's products are correct and complete.a. NPV analysis b. Project management information systemsc. Configuration management d. Project time management

Q: A(n) _____ is a formal, documented process that describes when and how official project documents may be modified, the people authorized to make modifications, and the paperwork required for these changes.a. WBS b. project charterc. performance report d. change control system

Q: An IT company revises its process parameters in response to complaints from vendors that products were not ready on time. This would be an example of _____.a. cost forecasting b. a preventive actionc. defect repairs d. a corrective action

Q: Which of the following is a proactive process undertaken to reduce the probability of negative consequences associated with project risks?a. Performance reports b. Preventive actionsc. Defect repairs d. Corrective actions

Q: _____ should result in improvements in project performance.a. Corrective actions b. Defect repairsc. Preventive actions d. Product acceptance plans

Q: The majority of time on a project is usually spent on _____, as is most of the project's budget.a. execution b. planningc. closing d. monitoring and controlling

Q: The project schedule information section of the project management plan includes ____.a. a detailed budget b. a list of key deliverablesc. an elaborate timetable d. a directory of staff involved in the project

Q: The _____ section of the project management plan describes specific methodologies a project might use and explains how to document information.a. management objectives b. project controlsc. risk management d. technical processes

Q: The _____ section of the project management plan describes how to monitor project progress and handle changes.a. management objectives b. project controlsc. risk management d. technical processes

Q: The _____ section of the project plan should describe the major project functions and activities and identify those individuals who are in charge of them. a. organizational charts b. other organizational or process-related information c. project responsibilities d. management objectives

Q: A _____ is a document used to coordinate all project planning documents and help guide a project's execution and control.a. project management plan b. statement of workc. scope statement d. business case

Q: Which of the following are organizational process assets?a. Management systems b. The organization's infrastructurec. Government standards d. Marketplace conditions

Q: The business case includes information on _____.a. the business need for the projectb. relevant government or industry standardsc. the project objective, high-level requirements, and time and cost goalsd. policies, procedures, guidelines, and systems that influence a project's success

Q: A _____ is a document that recognizes the existence of a project and provides direction on the project's objectives and management.a. stakeholder register b. risk registerc. directive d. project charter

Q: In a weighted scoring model, the sum of the weights of all the criteria must total _____ percent.a. 10 b. 50c. 100 d. 150

Q: A project's internal rate of return can be determined by finding what discount rate results in an NPV of _____ for the project.a. zero b. onec. a hundred percent d. fifty percent

Q: Payback occurs when: a. the net cumulative benefits minus costs equal one. b. the net cumulative benefits equal the net cumulative costs. c. the net costs are lower than the cumulative benefits. d. the cumulative benefits are double the cumulative costs.

Q: The _____ is the minimum acceptable rate of return on an investment.a. capitalization rate b. internal rate of returnc. discount rate d. required rate of return

Q: Which of the following is true of return on investment or ROI? a. It is always a percentage. b. It is always a positive number. c. It is the result of adding the project costs to the profits. d. The lower it is, the better.

Q: The first step in determining the NPV is to _____. a. determine the estimated costs and benefits for the life of the project and the products it produces b. determine the discount rate c. calculate the net present value d. determine the cash flow

Q: Benefits minus costs is known as the _____.a. cost of capital b. cash flowc. discount factor d. opportunity cost of capital

Q: _____ analysis is a method of calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time.a. Cost of capital b. Net present valuec. Cash flow d. Payback

Q: _____ are new requirements imposed by management, government, or some external influence.a. Opportunities b. Chartersc. Problems d. Directives

Q: In the _____ stage of selecting information technology projects, organizations select information technology projects.a. project planning b. business area analysisc. resource allocation d. information technology strategy planning

Q: In the _____ stage of selecting information technology projects, organizations define project scope, benefits, and constraints.a. project planning b. business area analysisc. resource allocation d. information technology strategy planning

Q: The _____ stage of information technology planning outlines business processes that are central to achieving strategic goals and helps determine which ones could most benefit from information technology.a. project planning b. business area analysisc. resource allocation d. information technology strategy planning

Q: The first step in the planning process is _____. a. to tie the information technology strategic plan to the organization's overall strategic plan b. to perform a business area analysis c. to start defining potential IT projects in terms of their scope, benefits, and constraints d. to choose which projects to do and assigning resources to work on them

Q: The outputs of the _____ process include change request status updates, project management plan updates, and project document updates.a. initiating b. planningc. executing d. monitoring and controlling

Q: _____ involves coordinating all planning efforts to create a consistent, coherent document. a. Developing the project charter b. Developing the preliminary project scope statement c. Developing the project management plan d. Developing the organizational process assets updates

Q: _____ involves working with stakeholders to create the document that formally authorizes a project. a. Developing the project charter b. Developing the preliminary project scope statement c. Developing the project management plan d. Performing integrated change control

Q: Organizational process asset updates are an important output of the closing process of a project. a. True b. False

Q: Change requests are always made in writing. a. True b. False

Q: Corrective actions reduce the probability of negative consequences associated with project risks, while preventive actions should result in improvements in project performance. a. True b. False

Q: It is necessary that IT project managers have prior technical experience in creating and managing IT products. a. True b. False

Q: A Gantt chart is the same as a project management plan. a. True b. False

Q: The introduction or overview of a project must only include a list of definitions and acronyms. a. True b. False

Q: Many projects fail because of unclear requirements and expectations, so starting with a payback analysis makes a lot of sense. a. True b. False

Q: Some organizations initiate projects using a contract in place of a project charter. a. True b. False

Q: A project charter typically does not authorize the project manager to use organizational resources to complete the project. a. True b. False

Q: Payback period is the amount of time it will take to recoup, in the form of net cash inflows, the total dollars invested in a project. a. True b. False

Q: The ROI is always positive. a. True b. False

Q: An annual discount factor is a multiplier for each year based on the discount rate and year. a. True b. False

Q: NPV analysis is a method for making equal comparisons between cash flows for multi-year projects. a. True b. False

Q: An organization should consider only projects with a negative NPV if financial value is a key criterion for project selection. a. True b. False

Q: The organization should complete low-priority projects before high-priority ones, if the low-priority ones take less time. a. True b. False

Q: Projects that arise as a result of problems and directives must be resolved quickly to avoid hurting an organization's business. a. True b. False

Q: Opportunities and directives are essentially the same thing. a. True b. False

Q: As projects progress, the organization must reevaluate the need, funding, and will for each project to determine if the project should be continued, redefined, or terminated. a. True b. False

Q: Projects that address broad organizational needs are likely to fail. a. True b. False

Q: Information systems can help an organization support a strategy of being a low-cost producer. a. True b. False

Q: An organization's information technology project selection process should guide the strategic plan. a. True b. False

Q: A SWOT analysis, being a linear process, cannot be performed using the nonlinear mind mapping technique. a. True b. False

Q: Project integration management must occur just within the context of a particular project. a. True b. False

Q: The number of interfaces in a single project is limited, and does not depend on the number of people involved in the project. a. True b. False

Q: Interface management involves identifying and managing the points of interaction between various elements of a project. a. True b. False

Q: In project integration management, directing and managing project execution involves carrying out the project management plan by performing the activities included in it. a. True b. False

Q: A(n) _____ is the person responsible for the business value of the project and for deciding what work to do and in what order when using a Scrum method.

Q: _________ issues often occur during project execution, especially conflicts.

Q: The _____ is a very important tool in project management because it provides the basis for deciding how to do the work.

Q: A risk register is the output of _____.

Q: A(n) _____ is a meeting held at the beginning of a project so that stakeholders can meet each other, review the goals of the project, and discuss future plans.

Q: A(n) _____ is a document that includes stakeholders' roles, names, organizations, and contact information.

Q: _____ are people involved in or affected by project activities and include the project sponsor, project team, support staff, customers, users, suppliers, and even opponents to the project.

Q: _____ is a project management methodology that defines 45 separate subprocesses and organizes these into eight process groups.