Goals of project portfolio management


• Answer all the Questions given below:

1. A ________________ is a short-term endeavour undertaken to make a unique product, service, or output.

a) Program
b) Process
c) Project
d) Portfolio

2. Which of the following is not the potential advantage of using good project management?

a) Shorter development times
b) Higher worker morale
c) Lower cost of capital
d) Higher profit margins

3. Which of the following is not the attribute of the project?

a) Projects are unique
b) Projects are developed by using progressive elaboration
c) Projects have a main customer or sponsor
d) Projects involve little uncertainty

4. Which of the following is not a part of triple constraint of a project management?

a) Meeting scope goals
b) Meeting time goals
c) Meeting communications goals
d) Meeting cost goals

5. Initial stage of any project is

a) Proposal
b) Conceptualization
c) Implementation
d) Management

6. __________________ is an application of the knowledge, skills, tools and techniques to project activities to fulfil project needs.

a) Project management
b) Program management
c) Project portfolio management
d) Requirements management

7. Project portfolio management addresses ____________________ goals of organization, whereas project management addresses _________________ goals.

a) Strategic, tactical
b) Tactical, strategic
c) Internal, external
d) External, internal

8. Number of application development projects done for the similar functional group may best be managed as part of a

a) Portfolio
b) Program
c) Investment
d) Collaborative

9. Which of the following is not one of the top ten skills or competencies of an efficient project manager?

a) People skills
b) Leadership
c) Integrity
d) Technical skills

10. What is the certification program called which the Project Management Institute provides?

a) Microsoft Certified Project Manager (MCPM)
b) Project Manager Professional (PMP)
c) Project Management Expert (PME)
d) Project Management Mentor (PMM)

11. A _________________ is a series of actions directed towards the particular output.

a) Goal
b) Process
c) Plan
d) Project

12. ____________________ Processes include coordinating people and other resource to perform project plans and generates the products, service, or outputs of the project or phase.

a) Initiating
b) Planning
c) Executing
d) Monitoring & controlling

13. Which process group usually needs most resources and time?

a) Initiating
b) Planning
c) Executing
d) Monitoring and controlling

14. A work breakdown structure, project schedule, and cost estimates are result of the process.

a) Initiating
b) Planning
c) Executing
d) Monitoring and controlling

15. Which process group includes activities from each of the nine knowledge areas?

a) Initiating
b) Planning
c) Executing
d) Monitoring and controlling

16. Project management as the profession is almost unique in having institutions concerned with its development who promote what they term their

a) Body of language
b) Body of knowledge
c) Strategy
d) Work

17. Initiating involves developing the project charter and preliminary project scope statement, that are part of the project _____________________ management knowledge.

a) Integration
b) Scope
c) Communications
d) Risk

18. A ________________ explains how things must be done, and different organizations often have different ways of doing things.

a) Regulation
b) Process
c) Standard
d) Methodology

19. ___________________ involves measuring progress toward project objectives and talking corrective actions.

a) Initiating
b) Planning
c) Executing
d) Monitoring and controlling

20. What type of report do project teams make to reflect on what went right with the project?

a) Lessons – learned report
b) Status report
c) Final project report
d) Business case

21. Project manager is responsible for

a) Overseeing change
b) Cross functional activities
c) Ever changing set of tasks
d) All above

22. Many people use ________________ to have standard format for preparing a variety of project management documents.

a) Methodologies
b) Templates
c) Project management software
d) Standards

23. What is the last step in four – stage planning process for choosing information technology projects?

a) Information technology strategy planning
b) Business area analysis
c) Project planning
d) Resource allocation

24. New government law needs an organization to report data in the new way. Under which category will the new information system project to offer this data fall?

a) Problem
b) Opportunity
c) Directive
d) Regulation

25. A __________________ is a document which formally identifies the existence of the project and offers direction on the project’s aim and management.

a) Project charter
b) Preliminary scope statement
c) Business case
d) Project management plan

26. ICOM model, which is one of the key roles of project manager, stand for

a) Integrated Constraint of Mechanism
b) Inputs, Outputs, Constraints & Mechanism
c) Inputs, Outputs, Constraints & Money
d) None

27. A _______________ often includes sensitive information, so it must not be part of the overall project plan for anyone to see.

a) Business case
b) Project charter
c) Personnel chart
d) Stakeholder analysis

28. Which of the following is not a suggestion for performing integrated change control?

a) Use good configuration management
b) Minimize change
c) Establish a formal change control system
d) View project management as a process of constant communication and negotiation

29. _______________ refer(s) to all the work involved in creating products of the projects and processes used to create them.

a) Deliverables
b) Milestones
c) Scope
d) Product development

30. Suppose you have a project with major categories known as planning, analysis, design, and testing. What level of the WBS would these items fall under?

a) 0
b) 1
c) 2
d) 3

31. Which of the following is not a best practice which can help in avoiding scope problems on information technology projects?

a) Keep the scope realistic
b) Use off-the-shelf hardware and software whenever possible
c) Follow good project management processes
d) Don’t involve too many users in scope management

32. Having ascertains the portfolio of projects obtained objectives for each of them, we have to move to the next stage of the strategy process to balance the objectives

a) Policy deployment
b) Strategy matrix
c) Project performance measurement
d) None

33. What key restaurant chain terminated a large project after spending $170 million on it, firstly since they realized the project scope was too much to handle?

a) Burger King
b) Pizza Hut
c) McDonalds
d) Taco Bell

34. Scope ____________________ is often achieved by the customer inspection and then sign – off on key deliverables.

a) Verification
b) Validation
c) Completion
d) Close – out

35. Project management software helps you to develop a _________________, that serves as a basis for creating Gantt charts, assigning resources, and allocating costs.

a) Project plan
b) Schedule
c) WBS
d) Deliverable

36. WBS (Work Breakdown Structure) is also called as:

a) Chunking
b) Unbundling
c) Both (a) & (b)
d) None

37. What is the initial process in planning the project schedule?

a) Milestone definition
b) Activity definition
c) Activity resource estimation
d) Activity sequencing

38. Predecessors, successes, logical relationships, leads and lags, resource requirements, constraints, imposed dates, and assumptions are all examples of ___________________.

a) Items in an activity list
b) Items on a Gantt chart
c) Milestone attributes
d) Activity attributes

39. As the project manager for a software development project, you are helping to develop its schedule. You decide that writing code for the system can’t begin till sign off on the analysis work. What type of dependency is this?

a) Technical
b) Mandatory
c) Discretionary
d) External

40. You can’t start editing a technical report till someone else completes the first draft. What type of dependency does this represent?

a) Finish – to – start
b) Start – to – start
c) Finish – to – finish
d) Start – to – finish

41. …………………. Involves going through the cycle several times to test the effects of the changes make on the outcomes.

a) Planning
b) Strategy
c) Iterative
d) None

42. Figure given belo shows two activities A & B; B cannot start until A finished and the times for A & B are 5 and 7 days respectively. This logic is called:

a) Dependency
b) Precedence
c) Freedom
d) None

430_Dependency.jpg

43. In the figure given below calculate the EET (earliest event time) at 20.

a) 10
b) 20
c) 5
d) 25

1567_Earliest event time.jpg

44. What symbol on a Gantt chart represents a slipped milestone?

a) A black arrow
b) A white arrow
c) A black diamond
d) A white diamond

45. Which type of diagram shows planned and actual project schedule information?

a) A network
b) A Gantt chart
c) A Tracking
d) A milestone chart

46. ____________________ is a network diagramming technique used to predict total project duration.

a) PERT
b) A Gantt chart
c) Critical path method
d) Crashing

47. Which of the following statement is false?

a) “Growing grass” was on the critical path for a large theme park project.
b) The critical path is the series of activities that determine the earliest time by which a project can be completed.
c) A forward pass through a project network diagram determines the early start and early finish dates for each activity.
d) Fast tracking is a technique for marking cost and schedule trade-offs to obtain the obtain the greatest amount of schedule comparison for the least incremental cost.

48. _____________________ is a method of scheduling which considers limited resources when
creating a project schedule and includes buffers to protect the project completion date.

a) Parkinson’s Law
b) Murphy’s Law
c) Critical path analysis
d) Critical chain scheduling

49. _______________ is a resource scarified or foregone to achieve a specific objective or something given up in exchange.

a) Money
b) Liability
c) Trade
d) Cost

50. What is chief goal of project cost management?

a) To complete a project for as little cost as possible
b) To complete a project within an approved budget
c) To provide truthful and accurate cost information on projects
d) To make sure that an organization’s money is used widely

51. A fundamental of ‘Theory of Constraints’ (TOC) is to manage systems by focusing on the constraints, termed as

a) Watermark
b) Bottleneck
c) Tick-sheet
d) None

52. “An activity will expand to fill the time available”; it is

a) Newton’s Law
b) Parkinson’s Law
c) Einstein’s Law
d) None

53. Which of the following is not a key output of project cost management?

a) A cost estimate
b) A cost management plan
c) Updates to the cost management plan
d) A cost baseline

54. If a company loses $5 for every $100 in revenue for a certain product, what is profit margin for that product?

a) -5 percent
b) 5 percent
c) -$5
d) $5

55. __________________ reserves allow for future situations which are unpredictable.

a) Contingency
b) Financial
c) Management
d) Baseline

56. You are preparing a cost estimate for a building based on its location, purpose, number of square feet, and other characteristics. What cost estimating technique are you using?

a) Parametric
b) Analogous
c) Bottom – up
d) Top – down

57. ______________ involves allocating the project cost calculates to individual work items over time.

a) Reserve analysis
b) Life cycle costing
c) Project cost budgeting
d) Earned value analysis

58. _________________ is a project performance measurement technique which integrates scope time, and cost data.

a) Reserve analysis
b) Life cycle costing
c) Project cost budgeting
d) Earned value analysis

59. If the actual cost for a WBS item is $1500 and its earned value was $2000, what is its cost variance, and is it under or over budget?

a) The cost variance is -$500, which is over budget
b) The cost variance is -$500, which is under budget
c) The cost variance is $500, which is over budget
d) The cost variance is $500, which is under budget

60. If a project is halfway completed and its schedule performance index is 110% and its cost performance index is 95%, how is it progressing?

a) It is ahead of schedule and under budget
b) It is ahead of schedule and over budget
c) It is behind schedule and under budget
d) It is behind schedule and over budget

61. To find out the cost of particular element in advance of the project, which technique can be employed?

a) Parametric estimating
b) As…………but…………s
c) Forecasts
d) All above

62. _______________ is the degree to which a set of inherent characteristics fulfils requirements.

a) Quality
b) Conformance to requirements
c) Fitness for use
d) Reliability

63. What is the aim of project quality management?

a) To produce the highest quality products and services possible
b) To ensure that appropriate quality standards are met
c) To ensure that the project will satisfy the needs for which it was undertaken
d) All of the above

64. _______________ generates ideas for quality improvements by comparing specific project practices or product characteristics to those of other projects or products within or outside the performing organization.

a) Quality audits
b) Design of experiments
c) Six Sigma
d) Benchmarking

65. What tool can you use to find out whether a process is in control or out of control?

a) A cause – and – effect diagram
b) A control chart
c) A run chart
d) A scatter chart

66. Complication to the critical path represents the formation of compound series of activities often involving several paths that has been termed

a) The critical chain
b) The critical path
c) TOC
d) Resource path

67. Six Sigma’s target for perfection is the achievement of no more than ________________ defects, errors, or mistakes per million opportunities.

a) 6
b) 9
c) 3.4
d) 1

68. The seven run rule states that if seven data points in the row on a control chart are all below the mean, above the means, or all increasing or decreasing, then the process requires to be examined for _________________ problems.

a) Random
b) Non – random
c) Six Sigma
d) Quality

69. What is the preferred order for performing testing on information technology projects?

a) Unit testing, integration testing, system testing, user acceptance testing
b) Unit testing, system testing, integration testing, user acceptance testing
c) Unit testing, system testing, user acceptance testing, integration testing
d) Unit testing, integration testing, user acceptance testing, system testing

70. ___________________ is known for his work on quality control in Japan and developed the 14 points for Management in his text Out of the Crisis.

a) Juran
b) Deming
c) Crosby
d) Ishikawa

71. Theory of constraints (TOC) is successfully applied in

a) Planning
b) Checking
c) Manufacturing
d) Controlling

72. PMI’s OPM3 is an example of a ____________________ model or framework for helping organization improve their processes and systems.

a) Benchmarking
b) Six Sigma
c) Maturity
d) Quality

73. Which of the following is not part of project human resource management?

a) Resource estimating
b) Acquiring the project team
c) Developing the project team
d) Managing the project team

74. _________________ causes people to participate in the activity for their own enjoyment.

a) Intrinsic motivation
b) Extrinsic motivation
c) Self motivation
d) Social motivation

75. At the bottom of Maslow’s pyramid or hierarchy of needs are _____________ needs.

a) Self – actualization
b) Esteem
c) Safety
d) Physiological

76. ________________ power is based on a person’s individual charisma.

a) Affiliation
b) Referent
c) Personality
d) Legitimate

77. What technique you can use to resolve resource conflicts by delaying tasks?

a) Resource loading
b) Resource leveling
c) Critical path analysis
d) Over allocation

78. Which of the following is not a tool or technique for managing project team?

a) Observation and conversation
b) Project performance appraisals
c) Issue logs
d) Social Styles Profile

79. What do many experts agree is the greatest threat to the success of any project?

a) Lack of proper funding
b) A failure to communicate
c) Poor listening skills
d) Inadequate staffing

80. Which communication skill is the most important for information technology professionals for career advancement?

a) Writing
b) Listening
c) Speaking
d) Using communication technologies

81. Which of the following is not a process in project communication management?

a) Information planning
b) Information distribution
c) Performance reporting
d) Managing stakeholders

82. A building might not be constructed unless the planning permission for it has been obtained, this is the

a) Legal constraint
b) Quality constraint
c) Cost constraint
d) Logic constraint

83. A ________________ report explains where the project stands at a specific point in time.

a) Status
b) Performance
c) Forecast
d) Earned value

84. __________________ is an uncertainly which can have a negative or positive effect on meeting project objectives.

a) Risk utility
b) Risk tolerance
c) Risk management
d) Risk

85. A person who is a risk - ______________ receives greater satisfaction when more payoffs is at stake and is willing to pay the penalty to take risks.

a) Averse
b) Seeking
c) Neutral
d) Aware

86. Which risk management process involves prioritizing based on their probability and impact of occurrence?

a) Risk management planning
b) Risk identification
c) Qualitative risk analysis
d) Quantitative risk analysis

87. The 7-S framework of project management issues was promoted by

a) McJonald and Co.
b) McKinsly and Co.
c) J & K Co.
d) None

88. Your project involves using a new release of a software application, but if that release is not available, your team has ______________ plans to use the present release.

a) Contingency
b) Fallback
c) Reserve
d) Mitigation

89. A risk _________________ is a document which contains outputs of various risk management processes, often displayed in a table or spreadsheet format.

a) Management plan
b) Register
c) Breakdown structure
d) Probability / impact matrix

90. Your project team has decided not to use the upcoming release of software since it may cause your schedule to slip. Which negative risk response strategy are you using?

a) Avoidance
b) Acceptance
c) Transference
d) Mitigation

91. For non critical activities, network diagrams build in …………………………. at the start of activities.

a) Temporary
b) Buffer
c) Slack
d) Anywhere

92. If a project being undertaken by a particular project team, then these are referred as

a) Resource capability
b) Resource capacity
c) Resource calendar
d) Resource pool

93. The term ‘hedgehog syndrome’ means

a) Management problem
b) Solving problem
c) Repetition of problem
d) Find out a problem

94. What is the first procurement process?

a) Planning contracting
b) Planning purchasing and acquisitions
c) Requesting seller responses
d) Procurement management planning

95. The _____________ is the point at which the contractor assumes total responsibility for each additional dollar of contract cost.

a) A breakeven point
b) Share ratio point
c) Point of reconciliation
d) Point of total assumption

96. We’re standing on this hill here. We want to be on that hill over there, this is:

a) View
b) Vision
c) Mission
d) Aim

97. A ______________________ is a document prepared by a seller when there are different approaches for meeting buyer needs.

a) RFP
b) RFQ
c) Proposal
d) Quote

98. Buyers often create a ______________________ list when choosing a seller to make this process more manageable.

a) Preferred
b) Short
c) Qualified suppliers
d) BAFO

99. A proposal evaluation sheet is the example of a(n) ______________________.

a) RFP
b) NPV analysis
c) Earned value analysis
d) Weighted scoring model

100. __________________ is a term used to describe variety of procurement functions which are now done electronically.

a) E – procurement
b) eBay
c) E – commerce
d) EMV

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