Fundamentals of Project Planning and Management Quiz Answer. In this post you will get Quiz Answer Of Fundamentals of Project Planning and Management
Fundamentals of Project Planning and Management
Offered By ”University of Virginia”
Week- 1
The Fundamentals
1.
Question 1
Which of the following characterize a project?
1 point
- All activities that take place in a single location by a specific organization
- A set of activities with a specific allocation of resources
- Work without a defined outcome, but with a specific allocation of resources
- A temporary endeavor without a defined set of activities
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2.
Question 2
Referring to the typical definition, which of the following is a project?
1 point
- The design and development of a new Tesla car
- Applying to a job opportunity
- An airport’s operations
- Preparing to take a high school exam
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3.
Question 3
With a project to launch a new website, which of the project objectives is most likely to be constrained?
1 point
- Budget
- Scope
- Time
- Complexity
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4.
Question 4
Which of the following questions could help with the “Identify” stage of the Stakeholder Cycle (Cleland and King, 1988)?
1 point
- Who else will be affected?
- What is the budget?
- Do we want to optimize any constraint?
- What is the outcome?
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5.
Question 5
Referring to the Stakeholder Power/Interest Grid (Freeman, 1983) how should a project manager aim to treat a stakeholder with HIGH POWER and HIGH INTEREST?
1 point
- Keep satisfied
- Manage closely
- Monitor
- Keep informed
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6.
Question 6
Which of the following questions is a good example of how to measure the success of a project to produce a movie?
1 point
- Was the movie produced without exceeding its budget of $50 million?
- Was the project team satisfied by their work on the project?
- Will the movie become a cult classic?
- Will the movie still be sold 10+ years later?
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7.
Question 7
Which of the following will likely lead to project failure?
1 point
- Information from past projects
- New technology
- Overconfidence
- Various stakeholders
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8.
Question 8
Referring to Shenhar and Dvir’s (2007) model, which of the following projects would you classify as complex?
1 point
- The Olympic games in Rio
- Google and the expansion of the Google Fiber service into Latin America
- Zara apparel developing 2016’s clothing collection
- Tesla motors working to develop a new battery technology
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9.
Question 9
Which part of the project life-cycle is most often overlooked by project managers?
1 point
- Plan
- Initiate
- Monitor/Control
- Close
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10.
Question 10
Gates within the Stage-gate Process (Cooper and Edgett, 2011) provide an organization with the opportunity to:
1 point
- Focus on quality of the final product or service deliverable
- Ensure a continuous flow of work in the organization
- Make one major decision about the direction of the project
- Progress new products from idea to launch
Week- 2
Project Planning
1.
Question 1
Referring to Drucker (2006), which of the following describes a BAD action plan?
1 point
It provides a system for checking against expectations, adjusting the course of action as the plan is executed
It should provide a straight commitment from the management, both for the tasks to be executed and target of the plan, leaving no room for change or adaptation
It should be a basis for executive time management, anticipating a likely scenario for time spend in the project
It should have the best estimate for all tasks in order to anticipate what needs to be done, but it should be flexible as the plan is executed and new pieces of information arise
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2.
Question 2
A Work Breakdown Structure is used to visualize and break a project into:
1 point
Work packages
Time units
A critical path
Organizational hierarchy
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3.
Question 3
When producing a movie, the post production can only begin once the filming is complete. Which precedence relationship best describes the relationship between “onsite filming” and “post production”?
1 point
Start-to-Start
Start-to-Finish
Finish-to-Finish
Finish-to-Start
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4.
Question 4
Figure 1: Design/Dependency Structure Matrix for Project X
According to the pictured Design/Dependency Structure Matrix, Task 4 is dependent on which tasks?
1 point
Task 2 only
Tasks 2 and 3
Task 5 only
Tasks 5 and 6
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5.
Question 5
Figure 2: Network Diagram for Project X
What are the tasks along this project’s critical path?
1 point
Creative, Sales, and Finance
Creative, Fundraising, and HR
Strategy, Sales, and HR
Strategy, Marketing, and Finance
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6.
Question 6
Figure 2: Network Diagram for Project X
Which tasks will be critical if the Sales task takes 7 weeks instead of 6?
1 point
Creative, Sales, and Finance
Creative, Sales, and Finance/HR
Creative, Fundraising, and HR
Strategy, Marketing, and Finance
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7.
Question 7
Figure 2: Network Diagram for Project X
If the IT task takes 6 weeks instead of 5, what will be the earliest possible completion time for this project?
1 point
14 weeks
15 weeks
16 weeks
17 weeks
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8.
Question 8
What is the main goal of crashing a project activity?
1 point
To create less risk associated with the project
To create less slack in the project
To increase the duration of project activities
To eliminate the emergence of a new critical path
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9.
Question 9
Which of the following describes an “as soon as possible” schedule?
1 point
Benefits on costs, but downside on time
Constrained by time so compromise costs early on to provide slack time
Delays the committment of costs and resources
Constrained by costs so incur them immediately
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10.
Question 10
The backward pass is used to determine the Latest Start Time (LST) and Latest Finish Time (LFT) of tasks. The LFT of a task is the _____ of the LST of all succeeding tasks.
1 point
Average
Minimum
Maximum
Sum
Week- 3
Project Risks
1.
Question 1
Referring to Loch, DeMeyer, and Pich’s (2006) description of sources of uncertainty, which of the following scenarios most likely provides UNFORESEEABLE uncertainties?
1 point
Tesla motors planning to develop a new battery technology in 2016
Zara apparel developing 2016’s clothing collection
Apple releasing the next iPhone
The Olympic games in Rio
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2.
Question 2
Which of the following industries faces the MOST risk when it comes to demand and technology uncertainty?
1 point
Precious metals
Software
Construction
Mining
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3.
Question 3
The probability of risk B is 0.5, with an impact score of 80. What is Risk B’s Risk Score?
1 point
0.4
4
40
400
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4.
Question 4
Figure 1: Risk Impact/Probability Chart for five risks: A, B, C, D, and E
On the x-axis we have the relative magnitude of the ‘impact,’ with higher numbers indicating a more severe outcome. On the y-axis we have the probability that a risk ‘may’ occur, ranging from just above 0% to just below 100%. Using Risk Score as a measure, prioritize risks A through E from MOST risky to LEAST risky.
1 point
A, B, C, D, E
B, C, A, D, E
C, B, A, D, E
D, C, E, B, A
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5.
Question 5
Figure 2: Table for Project X
Consider the project detailed in the table above. Assume every task begins as soon as possible, but lasts its MINIMUM duration. What is the duration of this project as a whole?
1 point
6 weeks
10 weeks
19 weeks
30 weeks
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6.
Question 6
Figure 3: Tornado Chart for Project X
According to the Tornado Chart above, which task has the potential to cause the GREATEST IMPACT on the project’s OVERALL DURATION?
1 point
Sales
Sales and Fundraising
Fundraising
Creative and Finance
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7.
Question 7
Figure 4: Cumulative Probability Curve for the duration of Project X
According to the cumulative probability curve above, what is the probability that this project will take AT LEAST 25 weeks to complete?
1 point
10%
35%
50%
90%
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8.
Question 8
Figure 4: Cumulative Probability Curve for the duration of Project X
According to the cumulative probability curve above, what is the probability that this project will be completed within 55 weeks?
1 point
10%
35%
50%
90%
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9.
Question 9
If a task in a given project has a criticality index of 95%, what does this number say about that task?
1 point
This task occurs before 5% of the other tasks on the critical path
The duration of that task is likely to be 95% of the overall duration of the project
This task is highly likely to be on the critical path of a project and should be monitored closely
This task is more critical than 95% of the other tasks in the project
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10.
Question 10
If three tasks in a project are estimated to cost $2,000, $10,000, and $20,000 respectively, which of the following is a MISCONCEPTION in how to allocate funds to cover variability?
1 point
Contingency funds should be allocated to the third task, since it is the highest estimated cost
Contingency funds should be allocated to the project as a whole
Week- 4
Project Execution
1.
Question 1
Which of the following questions would NOT help clarify an aspect of project execution?
1 point
What is the scope of the project?
How will we take action to correct situations when things do not go as planned?
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2.
Question 2
During project execution, which of the following questions would be most helpful to ask during the “Correct and Control” step?
1 point
Who will collect and report information?
What information will be monitored?
How will information be collected and reported?
If necessary, who has the ability to allocate additional resources to the project?
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3.
Question 3
What is one indicator that can inform us of our performance with regard to a project’s budget?
1 point
Budgeted cost
Earned Value (EV)
Cost Performance Index (CPI)
Actual cost
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4.
Question 4
Figure 1: Earned Value Analysis Table for the Creative task
Is this task on schedule?
1 point
Yes
No
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5.
Question 5
Figure 1: Earned Value Analysis Table for the Creative task
Is this task on track to be within its budget?
1 point
Yes
No
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6.
Question 6
Figure 2: Earned Value Analysis Table for the Information Technology task
Is this task on schedule?
1 point
Yes
No
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7.
Question 7
Figure 2: Earned Value Analysis Table for the Information Technology task
Is this task on track to be within its budget?
1 point
Yes
No
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8.
Question 8
Which of the following is an overarching approach to project management?
1 point
Agile
Scrum
Kanban
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9.
Question 9
Which project management approach stresses the importance of meetings such as the “daily stand-up”?
1 point
Agile
Scrum
Kanban
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10.
Question 10
Which project management approach is a continuous flow model with no iterations and limits the amount of work in progress?
1 point
Agile
Scrum
Kanban
