What is the difference between project and product manager?

What is the difference between project and product manager?
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The Project Manager is responsible for breaking down strategic plans into actionable, task-oriented initiatives. This process involves coordination, delegation, and leadership as the project manager must navigate interdependencies, team dynamic and one-off challenges, all while meeting a deadline with limited resources. The Product Manager will first set a vision for the product(based on research), then communicate that vision throughout the organization. Throughout this process, the product manager attempts to persuade executives and other stakeholders to become passionate about the planned product. If successful, the product manager will develop a strategic action plan to help the organization bring the envisioned product to reality. The product manager will begin breaking the strategic level plans down into actionable tasks, goals, teams and deadlines.
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Last Answer : d. Application of processes and methods throughout the project life cycle.

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Which one of the following is true for the Project Management Plan (PMP)? a. The Project Management Plan is developed by the project manager and team and owned by the sponsor. b. A draft of the Project Management Plan is developed by the sponsor at the same time as the business case. c. The Project Management Plan is developed by the sponsor and owned by the project manager. d. The Project Management Plan is developed by the project manager and team and owned by the project manager.

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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.

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A Responsibility Assignment Matrix (RAM) can be used to: a. define the terms of reference of the project manager. b. define the limits of the project sponsor’s responsibilities. c. allocate risk management response activities to project personnel. d. allocate work packages to those responsible for project work.

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Last Answer : d. allocate work packages to those responsible for project work.

Which statement best describes a responsibility of the project manager: a. to be the sole source of expertise for estimating techniques on cost and time. b. to deliver the project objectives to enable benefits to be realised. c. to take ultimate accountability for the delivery of the business benefits. d. to delegate all accountability for managing time, cost and quality to team leaders.

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Last Answer : b. to deliver the project objectives to enable benefits to be realised.

Who owns the Project Management Plan (PMP)? a. The project team. b. The chief executive. c. The project manager. d. The project support office.

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Which one of the following statements is true? a. The business case is owned by the sponsor and is created during the concept phase of the project life cycle. b. The business case is owned by the project manager and is created during the concept phase of the project life cycle. c. The business case is owned by the sponsor and is created during definition phase of the project life cycle. d. The business case is owned by the project manager and is created during the definition phase of the project life cycle.

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Last Answer : a. The business case is owned by the sponsor and is created during the concept phase of the project life  cycle.

Which one of the following best describes a project issue? a. A major problem that requires formal escalation. b. A problem that the project manager has to deal with on a day-to-day basis. c. An uncertain event that may or may not occur. d. An opportunity that occurs through change control.

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Last Answer : a. A major problem that requires formal escalation.

Which one of the following statements is true? a. Independ. Quality planning enables the project manager to manage the trade-off between customer expectations and budgetdent reviews and quality audits form part of quality assurance to ensure the project manager delivers on time and to budget. b. Quality assurance provides confidence to stakeholders that requirements for quality will be exceeded. c. Quality control verifies that the project deliverables conform to specification, are fit for purpose and meet stakeholder expectations.

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Last Answer : c. Quality control verifies that the project deliverables conform to specification, are fit for purpose and  meet stakeholder expectations.

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Last Answer : A. Conduct Procurements

Activity Definition is typically performed by which of the following: A. Project Manager who created the WBS B. Project Team Members responsible for the work package C. Project Officer D. Project Stakeholder

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Andrew has joined as the Project Manager of a project. One of the project documents available to Andrew lists down all the risks in a hierarchical fashion. What is this document called? a. Risk Management Plan. b. List of risks. c. Monte Carlo diagram. d. Risk Breakdown Structure.

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Last Answer : d. Risk Breakdown Structure.

Quality planning is the process of developing a quality plan for a) team b) project c) customers d) project manager

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The process each manager follows during the life of a project is known as a) Project Management b) Manager life cycle c) Project Management Life Cycle d) All of the mentioned

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During project estimation, project manager estimates following A. project cost B. project duration C. project effort D. all of the above

Description : During project estimation, project manager estimates following A. project cost B. project duration C. project effort D. all of the above

Last Answer : D. all of the above

Quality planning is the process of developing a quality plan for a) team b) project c) customers d) project manager

Description : Quality planning is the process of developing a quality plan for a) team b) project c) customers d) project manager

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The process each manager follows during the life of a project is known as a) Project Management b) Manager life cycle c) Project Management Life Cycle d) All of the mentioned

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Shauna has recently been appointed as a project manager for Project SkyNorth, which is regarded as an important project in her organization. During the project planning meeting, Shauna is capable of allocating key resources and personnel that she needs for this project. Which organizational structure is best for Shauna’s company? Select one: a. Balanced md. Projectized organization e. Hierarchical organizationatrix organization b. Matrix organization c. Functional organization

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Last Answer : d. Projectized organization

Which of the following is true about a project manager? Select one: a. Project managers analyze work processes and explore opportunities to make improvements. b. Project managers are focused on the long-term health of the organization. c. Project managers are process focused. d. Project managers are goal oriented. e. Project managers standardize the work processes.

Description : Which of the following is true about a project manager? Select one: a. Project managers analyze work processes and explore opportunities to make  improvements. b. Project managers are focused ... . d. Project managers are goal oriented. e. Project managers standardize the work processes.

Last Answer : d. Project managers are goal oriented.

During a new project planning process to sequence activities, the project manager, Nate, decides to use the precedence diagraming method to show the identified activity dependencies. Which of the following logical relationships is Nate’s least favorite choice? Select one: a. Finish-to-start b. Start-to-finish c. Finish-to-finish d. Start-to-start e. All of these answers

Description :  During a new project planning process to sequence activities, the project  manager, Nate, decides to use the precedence diagraming method to show the  identified activity dependencies. Which of the following logical ... -finish c. Finish-to-finish d. Start-to-start e. All of these answers

Last Answer : b. Start-to-finish

After the celebration of the successful milestone completion, a project manager will often do which of the following? Select one: a. Continue to increase the intensity of the project to achieve the next milestone. b. Continue to follow the exact same project plan that helped the team achieve the milestone. c. Allow the team to reflect on finding new ways of approaching the project work. d. Select an upcoming key event and designate it as the next milestone. e. Stretch the goals of the project team, making them more tough and rigorous.

Description : After the celebration of the successful milestone completion, a project manager  will often do which of the following? Select one: a. Continue to increase the intensity of the project to achieve the ... milestone. e. Stretch the goals of the project team, making them more tough and rigorous.

Last Answer : c. Allow the team to reflect on finding new ways of approaching the project work.

Fill in the blank. During the _________ of a project, the project manager focuses on developing the project infrastructure needed to execute the project and developing clarity around the project charter and scope. Select one: a. completion b. start-up c. execution d. evaluation e. selection

Description : Fill in the blank. During the _________ of a project, the project manager focuses on  developing the project infrastructure needed to execute the project and developing  clarity around the project charter and scope. ... one: a. completion b. start-up c. execution d. evaluation e. selection

Last Answer : b. start-up

What should be done by the project manager to ensure that all the work in the project is included? Select one: a. Create a contingency plan. b. Create a risk management plan. c. Create a WBS. d. Create a statement of work. e. Create a scope statement.

Description : What should be done by the project manager to ensure that all the work in the  project is included? Select one: a. Create a contingency plan. b. Create a risk management plan. c. Create a WBS. d. Create a statement of work. e. Create a scope statement.

Last Answer : c. Create a WBS.

When a project manager starts to plan a new project budget, the cost of which project management process group is expected to be lowest? Select one: a. Initiating b. Executing c. Monitoring and controlling d. Closing e. Planning

Description : When a project manager starts to plan a new project budget, the cost  of which project management process group is expected to be lowest? Select one: a. Initiating b. Executing c. Monitoring and controlling d. Closing e. Planning

Last Answer : d. Closing

Complete the following statement. In a weak matrix environment, the project manager, Eric, has to constantly make an effort to influence his project team and stakeholders to ensure project success. This is because: Select one: a. Eric has a lot of authority. b. Eric has no or little authority. c. Eric is controlled by his functional managers. d. there are no functional managers. e. Eric has flexibility on authority.

Description : Complete the following statement. In a weak matrix environment, the  project manager, Eric, has to constantly make an effort to influence his  project team and stakeholders to ensure project success. ... managers. d. there are no functional managers. e. Eric has flexibility on authority.

Last Answer : b. Eric has no or little authority.

Marco is an investor, and Jon is a project team member. Both have intensive technical background for the project that you are managing. However, recently they have disagreed on the next step to take for the project. They both decide to defer to whoever has the authority to make this decision. Who has the authority to decide which direction should be taken for the project? Select one: a. Project manager b. Stakeholders c. The project team d. Investors e. The board of trustees of this company

Description : Marco is an investor, and Jon is a project team member. Both have  intensive technical background for the project that you are managing.  However, recently they have disagreed on the next step to take ... b. Stakeholders c. The project team d. Investors e. The board of trustees of this company

Last Answer : c. The project team

What is considered to be the most useful skill for a project manager who works in a matrix environment in order to achieve project goals? Select one: a. Leadership skill b. Influencing c. Conflict management skill d. Time management e. Planning skill

Description : What is considered to be the most useful skill for a project manager  who works in a matrix environment in order to achieve project goals? Select one: a. Leadership skill b. Influencing c. Conflict management skill d. Time management e. Planning skill

Last Answer : b. Influencing

Complete the following statement. As a project manager, Darrell is excited that he is assigned to be in charge of the most important project this year. After being chartered for the project, he analyses the information in the project charter and the stakeholder register to: Select one: a. decide how to draft a scope statement. b. start to define and develop the stakeholder needs and requirements c. prepare for the template to monitor project progress. d. estimate the entire project budget.

Description : Complete the following statement. As a project manager, Darrell is  excited that he is assigned to be in charge of the most important project  this year. After being chartered for the project, he ... c. prepare for the template to monitor project progress. d. estimate the entire project budget.

Last Answer : b. start to define and develop the stakeholder needs and requirements

As a new project manager, Karen was worried about a statement from her client: “your project deliverable is in low quality with low grade”. According to PMBOK, how can you help Karen distinguish the differences between “quality” and “grade”? Select one: a. Quality and grade represent the same thing. b. Low quality can never be a problem, but low grade is. c. Low quality represents a true problem, but low grade might not be the case. d. Low quality with high grade is always desirable to your client. e. High quality always represents high grade.

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Last Answer : c. Low quality represents a true problem, but low grade might not be the case.

Fill in the blank. During the _________ of a project, the project manager focuses on developing the project infrastructure needed to execute the project and developing clarity around the project charter and scope. Select one: a. completion b. start-up c. execution d. evaluation e. selection

Description : Fill in the blank. During the _________ of a project, the project manager  focuses on developing the project infrastructure needed to execute the  project and developing clarity around the project charter and scope. ... one: a. completion b. start-up c. execution d. evaluation e. selection

Last Answer : b. start-up

In ____ style, project manager shares his or her vision with the team but permits them to use their respective ideas to come up with a solution.

Description : In ____ style, project manager shares his or her vision with the team but permits them to  use their respective ideas to come up with a solution.

Last Answer : Ans. Authoritative

In large organisations, project management shall be of line type function where the project manager shall have ____ and has total formal control over the division he or she heads

Description : In large organisations, project management shall be of line type function where the  project manager shall have ____ and has total formal control over the division he or she  heads

Last Answer : Ans. Full line authority

. A project leader or manager is expected to be completely accountable for his team members and meeting the team’s targets. (True/False)

Description : . A project leader or manager is expected to be completely accountable for his team  members and meeting the team’s targets. (True/False)

Last Answer : Ans. True