What is a project? A. A permanent endeavor that consumes resources, has objectives based on specifications, and consumes resources. (Ans.) B. A temporary endeavor which uses a series of tasks that have defined start and end dates, consume resources, have funding limits, and create a lasting outcome. C. A temporary endeavor that uses a series of tasks that have specific objectives with certain specifications, defined start and end dates, have funding limits, consume resources, and create a lasting outcome. D. A permanent endeavor which uses a series of tasks that have specific objectives with certain specifications, defined start and end dates, have funding limits, consume resources, and create a lasting outcome.

What is a project? 

A. A permanent endeavor that consumes resources, has objectives based on specifications, 

and consumes resources. (Ans.) 

B. A temporary endeavor which uses a series of tasks that have defined start and end dates, 

consume resources, have funding limits, and create a lasting outcome.

C. A temporary endeavor that uses a series of tasks that have specific objectives with certain 

specifications, defined start and end dates, have funding limits, consume resources, and create a 

lasting outcome.

D. A permanent endeavor which uses a series of tasks that have specific objectives with certain 

specifications, defined start and end dates, have funding limits, consume resources, and create a 

lasting outcome.
by

1 Answer

Answer :

A. A permanent endeavor that consumes resources, has objectives based on specifications, 

and consumes resources. (Ans.)
by

Related questions

)In a program or project plan, there are always revisions to account for new or missing data. Which one of the following provides the best reason for performing a revision of the plan? 1. A supplier has changed the way their product is delivered to your supplier 2. Project tasks are crashed to meet their end dates 3. Human resources will remain constant through out the project 4. Historical data on a similar project suggests that risk events are not included in the current plan.

Description : )In a program or project plan, there are always revisions to account for new or missing data.  Which one of the following provides the best reason for performing a revision of the plan? 1. ... 4. Historical data on a similar project suggests that risk events are not included in the current  plan.

Last Answer : 2. Project tasks are crashed to meet their end dates

Which one of the following statements best describes a project? a. A project is a set of tools and techniques often used when delivering organisational change. b. A project is the sum of activities needed to remove uncertainty from a unique piece of work. c. A unique transient endeavor undertaken to achieve a desired outcome. d. A project is a method of planning work.

Description : Which one of the following statements best describes a project? a. A project is a set of tools and techniques often used when delivering organisational change. b. A project is the sum of activities ... endeavor undertaken to achieve a desired outcome. d. A project is a method of planning work.

Last Answer : c. A unique transient endeavor undertaken to achieve a desired outcome.

. A key aspect of managing a project involves: a. definingb. identifying routine tasks. c. ensuring ongoing operations are maintained. d. planning to achieve defined objectives which operational systems to put in place.

Description : . A key aspect of managing a project involves: a. defining which operational systems to put in place. b. identifying routine tasks. c. ensuring ongoing operations are maintained. d. planning to achieve defined objectives

Last Answer : d. planning to achieve defined objectives.

A key aspect of managing a project involves: a. defining which operational systems to put in place. b. identifying routine tasks. c. ensuring ongoing operations are maintained. d. planning to achieve defined objectives.

Description : A key aspect of managing a project involves:  a. defining which operational systems to put in place. b. identifying routine tasks.  c. ensuring ongoing operations are maintained.  d. planning to achieve defined objectives.

Last Answer : d. planning to achieve defined objectives.

The Scope Statement should contain which of the following? 1. Project schedule 2. Project budget constraints 3. Summary of project tasks , deliverables and resources required 4. Project objectives

Description : The Scope Statement should contain which of the following? 1. Project schedule  2. Project budget constraints  3. Summary of project tasks , deliverables and resources required  4. Project objectives

Last Answer : 4. Project objectives

The methods and regulation used to define goals, plan and monitor tasks and resources, identify and resolve issues, and control costs and budgets for a specific project is known as … a. project management. b. Process Management c. Process d. Activities

Description : The methods and regulation used to define goals, plan and monitor tasks and resources, identify and resolve issues, and control costs and budgets for a specific project is known as … a. project management. b. Process Management c. Process d. Activities

Last Answer : a. project management.

The project schedule is used to determine all of the following except which one? A. Cost estimates B. Activity start dates C. Float times D. Activity end dates

Description : The project schedule is used to determine all of the following except which one?  A. Cost estimates B. Activity start dates C. Float times D. Activity end dates

Last Answer : A. Cost estimates

You are a project manager for Cinema Snicker Productions. Your company specializes in producing comedy films for the big screen. Your latest project has just been cancelled because of budget cuts. Which of the following statements is true? A. This project ended due to starvation because the funding was cut off. B. This project ended due to integration because the resources were distributed elsewhere. C. This project ended due to starvation because the resources were distributed elsewhere. D. This project ended due to integration because the funding was cut off.

Description : You are a project manager for Cinema Snicker Productions. Your company  specializes in producing comedy films for the big screen. Your latest project has just been  cancelled because of budget cuts ... elsewhere. D. This project ended due to integration because the funding was cut off.

Last Answer : A. This project ended due to starvation because the funding was cut off.

In which of the following stages are project objectives established, teams formed, and major responsibilities assigned? A. Conceptualizing B. Defining (Ans.) C. Planning D. Executing

Description : In which of the following stages are project objectives established, teams formed, and  major responsibilities assigned?  A. Conceptualizing  B. Defining (Ans.) C. Planning  D. Executing

Last Answer : B. Defining (Ans.)

The basic nature of a project is a/an _____ one. (A) permanent (B) temporary (C) (A) or (B) (D) Both (A) and (B)

Description : The basic nature of a project is a/an _____ one. (A) permanent (B) temporary (C) (A) or (B) (D) Both (A) and (B)

Last Answer : (B) temporary

The basic nature of a project is a/an _____ one. (A) permanent (B) temporary (C) (A) or (B) (D) Both (A) and (B)

Description : The basic nature of a project is a/an _____ one. (A) permanent (B) temporary (C) (A) or (B) (D) Both (A) and (B)

Last Answer : (B) temporary

How many PM knowledge areas are defined by Project Management Institute (PMI) A. Six B. Four C. Eight D. Ten (Ans.)

Description : How many PM knowledge areas are defined by Project Management Institute (PMI)  A. Six  B. Four  C. Eight  D. Ten (Ans.)

Last Answer : D. Ten (Ans.)

Requirements Management has a high initial start-up cost but does not need ongoing funding throughout a project. a) True b) False

Description : Requirements Management has a high initial start-up cost but  does not need ongoing funding throughout a project. a) True b) False

Last Answer : b) False

According to PMBOK, project management process groups are iterative, which was originally defined by Walter Shewhart and later modified by Edward Deming. Generally, one outcome from a previous process can serve as input for the next process. Which of the following best identifies with the description of this concept? Select one: a. Project life cycle b. Plan-Do-Check-Act cycle c. Project phases d. PM processes e. HR process cycle

Description :  According to PMBOK, project management process groups are iterative, which  was originally defined by Walter Shewhart and later modified by Edward Deming.  Generally, one outcome from a previous process can serve ... -Do-Check-Act cycle c. Project phases d. PM processes e. HR process cycle

Last Answer : b. Plan-Do-Check-Act cycle

Project management is the job of organising, coordinating, and controlling the various tasks and resources in order to successfully complete a project. (True/False

Description : Project management is the job of organising, coordinating, and controlling the various  tasks and resources in order to successfully complete a project. (True/False

Last Answer : Ans. True

CASE tool is a popular graphic depiction of the work plan that lists project tasks along a y-axis, time along an x-axis, and uses shaded boxes to represent tasks.

Description : CASE tool is a popular graphic depiction of the work plan that lists project tasks along a y-axis, time along an x-axis, and uses shaded boxes to represent tasks.

Last Answer : Ans: False

A critical success factor for project management is to _____. a. create a work plan b. follow the three steps of project management c. identify most project tasks d. manage the hundreds of tasks

Description : A critical success factor for project management is to _____.  a. create a work plan  b. follow the three steps of project management  c. identify most project tasks  d. manage the hundreds of tasks

Last Answer : e. start with a realistic assessment of the work

Risk in project management is defined as A.An uncertain event that, if it occurs, has a positive effect on project objectives B.An uncertain event that, if it occurs, has a negative effect on project objectives C.An uncertain event that, if it occurs, has a positive or negative effect on project objectives D.An uncertain event that do not have any effect on project objectives

Description : Risk in project management is defined as  A.An uncertain event that, if it occurs, has a positive effect on project objectives  B.An uncertain event that, if it occurs, has a negative ... effect on project  objectives  D.An uncertain event that do not have any effect on project objectives

Last Answer : C.An uncertain event that, if it occurs, has a positive or negative effect on project  objectives

Which of the following statement(s) is/are true about a Project? I. It brings change II. It has risk III. The outcome is certain (A) I only (B) II only (C) I and II only (D) I, II, and III

Description : Which of the following statement(s) is/are true about a Project? I. It brings change II. It has risk III. The outcome is certain (A) I only (B) II only (C) I and II only (D) I, II, and III

Last Answer : (C) I and II only

What is the benefit of using PERT/CPM network as integral component of project management? a. They furnish a consistent framework for planning, scheduling, monitoring and controlling project b. They illustrate the interdependencies of all tasks c. They can be used to estimate the expected project completion dates as well as the probability that the project will be completed by a specific date d. All of the above

Description : What is the benefit of using PERT/CPM network as integral component of project management? a. They furnish a consistent framework for planning, scheduling, monitoring and controlling project b. They illustrate ... that the project will be completed by a specific date d. All of the above

Last Answer : d. All of the above

Boehm suggests an approach that addresses project objectives, milestones and schedules, responsibilities, management and technical approaches and required resources, This principle is called as . a. W3HH principle b. WHO principle c. W5HH principle d. None of the above.

Description : Boehm suggests an approach that addresses project objectives,  milestones and schedules, responsibilities, management and  technical approaches and required resources, This principle is  called as . a. W3HH principle b. WHO principle c. W5HH principle d. None of the above.

Last Answer : c. W5HH principle

In resource allocation, the resources are allocated to a project in order that the…...............are attained a. Goals b. Objectives c. Both a, b d. None of the above

Description : In resource allocation, the resources are allocated to a project in  order that the…...............are attained a. Goals b. Objectives c. Both a, b d. None of the above

Last Answer : c. Both a, b

Which of the following can cause a communication barrier? 1. Differing perceptions as to project goals and objectives 2. Insufficient action on the part of the project manager3. Competition for facilities, equipment, material, manpower and other resources 4. Personality conflicts between managers and/ or other personnel 5. Resistance to change 6. All of the above

Description : Which of the following can cause a communication barrier? 1. Differing perceptions as to project goals and objectives  2. Insufficient action on the part of the project manager 3. Competition for ... between managers and/ or other personnel  5. Resistance to change  6. All of the above

Last Answer : 6. All of the above

The three steps of project management are _____. a. controlling the project, directing the project, and creating the work plan b. creating the work plan, staffing the project, and controlling and directing the project c. directing the project, creating the work plan, and naming the tasks d. naming the tasks, creating the work plan, and completing the deliverables e. setting the start date, estimating the time, and reading the actual time

Description : The three steps of project management are _____. a. controlling the project, directing the project, and creating the work plan  b. creating the work plan, staffing the project, and controlling ... the deliverables  e. setting the start date, estimating the time, and reading the actual time

Last Answer : b. creating the work plan, staffing the project, and controlling and directing the  project

All of the following statements are true regarding risks except for which one? Choose the least correct answer. A. Risks might be threats to the objectives of the project. B. Risks are certain events that may be threats or opportunities to the objectives of the project. C. Risks might be opportunities to the objectives of the project. D. Risks have causes and consequences.

Description : All of the following statements are true regarding risks except for which one? Choose the least correct answer.  A. Risks might be threats to the objectives of the project.  B. Risks are ... Risks might be opportunities to the objectives of the project.  D. Risks have causes and consequences.

Last Answer : B. Risks are certain events that may be threats or opportunities to the objectives of  the project

Which one of the following statements best defines an estimate? a. An approximation of project time and cost targets, refined throughout the project life cycle. b. A prediction of a future condition or event based on information or knowledge available now. c. The value of useful work done at any given point in a project to give a measure of progress. d. A situation that affects or influences the outcome of the project expressed in time or cost terms

Description : Which one of the following statements best defines an estimate? a. An approximation of project time and cost targets, refined throughout the project life cycle. b. A prediction of a future ... . A situation that affects or influences the outcome of the project expressed in time or cost terms

Last Answer : a. An approximation of project time and cost targets, refined throughout the project life cycle.

Which one of the following statements best defines an estimate? a. An approximation of project time and cost targets, refined throughout the project life cycle. b. A prediction of a future condition or event based on information or knowledge available now. c. The value of useful work done at any given point in a project to give a measure of progress. d. A situation that affects or influences the outcome of the project expressed in time or cost terms.

Description : Which one of the following statements best defines an estimate?  a. An approximation of project time and cost targets, refined throughout the project life  cycle.  b. A prediction of a future ... . A situation that affects or influences the outcome of the project expressed in time or cost terms.

Last Answer : a. An approximation of project time and cost targets, refined throughout the project life  cycle.

)The fixed price contract is advantageous to the buyer because it: 1. requires extremely well defined specifications 2. requires formal procedures for scope changes 3. contractor assumes financial and technical risk 4. has a known cost

Description : )The fixed price contract is advantageous to the buyer because it: 1. requires extremely well defined specifications  2. requires formal procedures for scope changes  3. contractor assumes financial and technical risk  4. has a known cost

Last Answer : 3. contractor assumes financial and technical risk

A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term can BEST describe the difference of $5,000? A. Cost Variance B. Management Overhead C. Management Contingency Reserve D. Schedule Variance

Description : A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term can BEST describe the difference of $5,000? A. Cost Variance B. Management Overhead C. Management Contingency Reserve D. Schedule Variance

Last Answer : C. Management Contingency Reserve

Ahmed is actively initiating a project, so he plans to invite all relevant internal and external stakeholders including sponsors, customers, project teams, etc. for a kick-off meeting. To ensure all of them are covered in the stakeholder register, which document is the most helpful for Ahmed to look at? Select one: a. Project team activities b. Scope statement c. Project charter d. Work packages e. Project funding agents

Description : Ahmed is actively initiating a project, so he plans to invite all relevant  internal and external stakeholders including sponsors, customers, project  teams, etc. for a kick-off meeting. To ensure all ... b. Scope statement c. Project charter d. Work packages e. Project funding agents

Last Answer : c. Project charter

A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term can BEST describe the difference of $5,000? A. Cost Variance B. Management Overhead C. Management Contingency Reserve D. Schedule Variance

Description : A Project with a total funding of $100,000 finished with a BAC value of $95,000. What term  can BEST describe the difference of $5,000? A. Cost Variance B. Management Overhead C. Management Contingency Reserve D. Schedule Variance

Last Answer : C. Management Contingency Reserve

Which one of the following illustrates why effective project management is beneficial to an organization? a. It utilizes resources as and when required under direction of a project manager. b. It advocates employing a consultancy firm which specializes in managing change. c. It recommends using only highly skilled people in the project team. d. It ensures that the chief executive is accountable for the achievement of the defined benefits.

Description : Which one of the following illustrates why effective project management is beneficial to an organization? a. It utilizes resources as and when required under direction of a project manager. b. ... d. It ensures that the chief executive is accountable for the achievement of the defined benefits.

Last Answer : a. It utilizes resources as and when required under direction of a project manager.

The amount of current assets that varies with seasonal requirements is referred to as working capital. A. permanent B. net C. temporary D. gross

Description : The amount of current assets that varies with seasonal requirements is referred to as  working capital. A. permanent B. net C. temporary D. gross

Last Answer : C. temporary

The amount of current assets required to meet a firm's long-term minimum needs is referred to as working capital. A. permanent B. temporary C. net D. gross

Description : The amount of current assets required to meet a firm's long-term minimum needs is  referred to as working capital. A. permanent B. temporary C. net D. gross

Last Answer : A. permanent

Which of the following illustrates the use of a hedging approach to financing assets? A. Temporary current assets financed with long-term liabilities. B. Permanent working capital financed with long-term liabilities. C. Short-term assets financed with equity D. All assets financed with a mixture of 50% equity and 50% long-term debt

Description : Which of the following illustrates the use of a hedging approach to financing assets? A. Temporary current assets financed with long-term liabilities. B. Permanent working capital financed with long-term ... equity D. All assets financed with a mixture of 50% equity and 50% long-term debt

Last Answer : B. Permanent working capital financed with long-term liabilities.

Which one of the following is least likely to be a success criteria? a. A target for the project to receive zero change requests. b. The date by which the project is to be completed. c. Delivery of products that meet required specifications. d. The awarding of bonuses to senior management.

Description : Which one of the following is least likely to be a success criteria? a. A target for the project to receive zero change requests. b. The date by which the project is to be completed. c. Delivery of products that meet required specifications. d. The awarding of bonuses to senior management.

Last Answer : d. The awarding of bonuses to senior management.

What is the most critical aspect in developing a project plan that meets project specifications within the timeframe and at the lowest costs? Select one: a. Assessing risk managemenc. Emphasizing error prevention and customer satisfaction d. Requiring commitment to quality by all the employees and business partners e. Developing a project execution plan that matches the complexity level of the projectt b. Providing documents that specifically comply with the quality standards in use

Description : What is the most critical aspect in developing a project plan that meets project  specifications within the timeframe and at the lowest costs? Select one: a. Assessing risk management b ... business partners e. Developing a project execution plan that matches the complexity level of the project

Last Answer : e. Developing a project execution plan that matches the complexity level of the project

Your company has asked you to be the project manager for the product introduction of its new DeskTop Rock media system. You recently published the project scope statement. Which of the following is not contained in D. Project configuration management requirementsthe project scope statement? A. Constraints B. Project specifications C. Requested changes

Description : Your company has asked you to be the project manager for the product introduction  of its new DeskTop Rock media system. You recently published the project scope  statement. Which ... . Constraints  B. Project specifications  C. Requested changes D. Project configuration management requirements

Last Answer : C. Requested changes

Which one of the following is least likely to be a success criterion? a. A target for the project to receive zero change requests. b. The date by which the project is to be completed. c. Delivery of products that meet required specifications. d. The awarding of bonuses to senior management.

Description : Which one of the following is least likely to be a success criterion?  a. A target for the project to receive zero change requests.  b. The date by which the project is to be completed.  c. Delivery of products that meet required specifications.  d. The awarding of bonuses to senior management.

Last Answer : d. The awarding of bonuses to senior management.

The Scope Management Plan is included in which of the following documents. 1. Project Plan 2. The Work Breakdown Structure 3. The Scope Statement 4. Project Specifications

Description : The Scope Management Plan is included in which of the following documents. 1. Project Plan  2. The Work Breakdown Structure  3. The Scope Statement  4. Project Specifications

Last Answer : 3. The Scope Statement

If you would like to see a list of resources and the tasks that people are assigned to. What view best displays this information? A.Resource Sheet B. Task Usage C. Gantt Chart D.: Resource Usage

Description : If you would like to see a list of resources and the tasks that people are assigned to.  What view best displays this information?  A.Resource Sheet  B. Task Usage  C. Gantt Chart  D.: Resource Usage

Last Answer : C. Gantt Chart

Identify the incorrect statement in connection with working capital management. A. Long-term funds are more expensive than short-term funds but also riskier B. The objectives of working capital management are profitability and liquidity C. Permanent current assets should be financed from long-term sources if a moderate or matching policy is adopted D. Conservative financing policies use short-term funds to finance only part of fluctuating current assets E. Aggressive financing policies increase profitability at the cost of higher risk

Description : Identify the incorrect statement in connection with working capital management. A. Long-term funds are more expensive than short-term funds but also riskier B. The objectives of ... fluctuating current assets E. Aggressive financing policies increase profitability at the cost of higher risk

Last Answer : A. Long-term funds are more expensive than short-term funds but also riskier

Which of the following establishes key dates throughout thb. Ballpark estimate c. Pert diagram d. Slack chart e. Milestone schedulee life of a project that must be met for the project to finish on time? Select one: a. Critical path

Description : Which of the following establishes key dates throughout the life of a project that  must be met for the project to finish on time? Select one: a. Critical path b. Ballpark estimate c. Pert diagram d. Slack chart e. Milestone schedule

Last Answer : e. Milestone schedule

Which one of the following is captured in the Work Breakdown Structure (WBS)? a. The life cycle phases. b. The logical order of tasks. c. The scope of the project. d. Project costs.

Description : Which one of the following is captured in the Work Breakdown Structure (WBS)? a. The life cycle phases. b. The logical order of tasks. c. The scope of the project. d. Project costs.

Last Answer : c. The scope of the project.

Which one of the following is captured in the Work Breakdown Structure (WBS)? A.The life cycle phases B.The logical order of tasks C.The scope of the project D. Project costs

Description : Which one of the following is captured in the Work Breakdown Structure (WBS)?  A.The life cycle phases  B.The logical order of tasks  C.The scope of the project  D. Project costs

Last Answer : C.The scope of the project

PERT chart can be used to track the tasks of a project when task time estimates are fairly uncertain.

Description : PERT chart can be used to track the tasks of a project when task time estimates are  fairly uncertain.

Last Answer : Ans: True

. It is not wise to identify tasks for a current project using existing methodology, because methodologies that have been used by an organization for other projects probably will not work for this project without extensive changes.

Description : . It is not wise to identify tasks for a current project using existing methodology,  because methodologies that have been used by an organization for other projects probably will not work for this project without extensive changes.

Last Answer : Ans: False

The work plan records and keeps track of all of the tasks that need to be accomplished over the life of the project, listing each task, along with important information about it, such as when it needs to be completed, the person assigned to do the work, and any deliverables that will result.

Description : The work plan records and keeps track of all of the tasks that need to be accomplished  over the life of the project, listing each task, along with important information about it,  such as when it needs to be completed, the person assigned to do the work, and any  deliverables that will result.

Last Answer : Ans: True

Ryan, a newly hired systems analyst/consultant, is about to begin a systems project. Where will Ryan look first to locate the identifiable tasks he will record in his work plan? a. call a friend at a competing firmb. his Systems Analysis text book from college c. the company training materials for the company methodology d. the project planning software available at the local bookstore e. the website of his old college professor

Description : Ryan, a newly hired systems analyst/consultant, is about to begin a systems project.  Where will Ryan look first to locate the identifiable tasks he will record in his work plan?  a. ... . the project planning software available at the local bookstore  e. the website of his old college professor

Last Answer : c. the company training materials for the company methodology

To identify the tasks for a work plan the project manager can _____. a. control and direct the project b. estimate the size, staff the project, and remember technical skills c. establish a possible reporting structure d. list the four phases of the SDLC and the steps that occur in each e. set conservative numbers for the project software

Description : To identify the tasks for a work plan the project manager can _____.  a. control and direct the project  b. estimate the size, staff the project, and remember technical skills  c. establish a ... of the SDLC and the steps that occur in each  e. set conservative numbers for the project software

Last Answer : d. list the four phases of the SDLC and the steps that occur in each