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Exam 1: The World of Project Management

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Question 1

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Having responsibility for the outcome of a project without the authority of rank or position is common in project management.

A) True
B) False

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Question 2

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Briefly describe each of the three fundamental goals of a project.

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Scoring methods were developed to overcome some of the disadvantages of simple financial profitability methods.

The construction of a house would likely follow a J-shaped lifecycle.

Briefly explain the project portfolio process.

In Crystal Ball, cells that contain outcomes we are interested in are called

A key deficiency of the aggregate project plan is that it provides little information about the resources committed to the various projects.

The main distinction between platform and derivative projects is that the latter depend on existing technology.

To what extent can the three goals of a project be traded-off for one another?

A PM does not need to understand why a project is selected for funding because he did not initiate the process.

Negotiating the purchase of a new car would typically be characterized as win-win negotiation.

The project manager depends on legitimate authority to gain the cooperation of the many departments in the organization that may be asked to supply technology, information, resources and personnel to the project.

Briefly highlight the difference between win-win and win-lose negotiation strategies.

Project budgets are primarily modifications of budgets for the same activity in the previous period.

Which of the following is not a trend in project management?

Projects that begin with a slow start, have quick momentum in the middle, and have a slow finish are said to follow which type of lifecycle?

How do you know if project completion is successful?.

Searching for the third alternative is most closely associated with

Which of the following criteria can be included in scoring models for selecting projects?

A similarity between project management and general management is the tendency to "manage by exception."