Project Management (C722)
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Free Project Management (C722) Questions
Which action should the project manager take to move ambiguity toward clarity
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Clearly establish the context by adding a uniform label, such as “Function,” only to WBS 5.0
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Clearly establish the context by adding a uniform label, such as “Phase,” to WBS items 2.0 through 6.0
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Rename only WBS item 5.0, even if doing so reduces its relevance to the baselines
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Rename the WBS items 2.0 through 6.0 for each item to form a complete sentence
Explanation
Correct answer:
b. Clearly establish the context by adding a uniform label, such as “Phase,” to WBS items 2.0 through 6.0
Explanation:
Adding a uniform label like “Phase” to WBS items 2.0 through 6.0 helps to establish a clear and consistent context for each item. This approach reduces ambiguity by providing a structured framework that clarifies the purpose and relationship of each component within the Work Breakdown Structure (WBS). It ensures that all relevant items are uniformly categorized, making it easier for stakeholders to understand the project's structure and progress.
Why the other options are incorrect:
a. Clearly establish the context by adding a uniform label, such as “Function,” only to WBS 5.0: This option is incorrect because it only addresses one item (WBS 5.0) and does not provide a consistent context for the entire WBS. This partial approach does not effectively reduce ambiguity across the project.
c. Rename only WBS item 5.0, even if doing so reduces its relevance to the baselines: This option is incorrect because renaming only one item without considering its relevance to the baselines can create inconsistency and confusion. It does not address the broader need for clarity across the WBS.
d. Rename the WBS items 2.0 through 6.0 for each item to form a complete sentence: This option is incorrect because renaming items to form complete sentences may not necessarily reduce ambiguity. It could lead to overly verbose descriptions that complicate rather than clarify the WBS structure.
Which is a current account transaction for Italy?
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Buy land in Vietnam
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Buy African parks
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Export leather to China
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Build factory in Brazil
Explanation
Explanation
Correct answer: (C) Export leather to China
The current account records transactions involving the trade of goods and services, income flows, and transfers between countries. Exporting leather to China is an example of a goods transaction, which is part of the current account (specifically exports of goods). The other options involve foreign direct investment or asset purchases, which fall under the capital/financial account rather than the current account.
Which of the following is not an output of planning for project integration and scope management
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project website
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project management plan
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scope management plan
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WBS
Explanation
Correct Answer:
A. project website
Explanation:
The project website is not an official output of project integration or scope management planning. While a project website might be created for communication and collaboration, it is not a documented deliverable of these planning processes.
Why the other options are correct outputs:
- B. Project Management Plan – The primary output of project integration management, consolidating all project plans.
- C. Scope Management Plan – Defines how project scope will be planned, executed, and controlled.
- D. WBS (Work Breakdown Structure) – A key deliverable in scope management that breaks the project into manageable components.
Due to an error in the change approval and tracking system, a revision in the cost to complete a work package was not properly documented and was carried through to higher level cost accounts.
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There will be a cost variance.
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Additional resources will be assigned.
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The project will finish ahead of schedule.
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A single work package will have no effect on the project.
Explanation
Explanation
Correct Answer: (A) There will be a cost variance
When a cost revision for a work package is not properly documented and propagated through the cost accounts, it creates a discrepancy between the planned baseline costs and the actual or updated costs. This mismatch results in a cost variance when comparing planned versus actual performance. Cost variance is a core component of earned value management used to measure project performance. Option B is not implied by the scenario, as no corrective resource allocation is described. Option C is unrelated because schedule performance is not affected by cost tracking errors. Option D is incorrect because changes at the work package level do affect higher-level cost accounts and overall project performance measurement.
A large software project at Acme, Inc. is in the planning stages. A contractor will be responsible for all programming and Acme has stipulated that the contractor will be responsible for correcting any errors in the code. How is Acme addressing the risk
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Risk Acceptance
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Risk Mitigation
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Risk Avoidance
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Risk Transference
Explanation
Correct Answer:
D. Risk Transference
Explanation: Acme is transferring the risk to the contractor by making them responsible for correcting any errors in the code. This shifts the responsibility and potential costs to the contractor.
Why the other options are incorrect:
A. Risk Acceptance – This would mean Acme accepts the risk and its consequences, which is not the case here.
B. Risk Mitigation – Acme is not reducing the impact or likelihood of the risk, but transferring it.
C. Risk Avoidance – Acme is not avoiding the risk, just shifting responsibility for it.
Which two milestones are necessary to consider the project execution stage complete
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All of the promised deliverables have been produced.
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All project personnel have been reassigned to other projects.
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The project scope expands to include a new deliverable.
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The budget for the project has been met.
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The project outcomes are ready to be delivered to the customer.
Explanation
Correct answer: A. All of the promised deliverables have been produced.
E. The project outcomes are ready to be delivered to the customer.
Explanation:
- The completion of the project execution stage is marked by the production of all promised deliverables and the readiness of project outcomes to be delivered to the customer.
Why the other options are incorrect:
B. All project personnel have been reassigned to other projects. – This is more related to the conclusion of the project, not the execution phase.
C. The project scope expands to include a new deliverable. – This indicates scope change, which would cause the project to revisit planning, not signify the end of execution.
D. The budget for the project has been met. – Meeting the budget is important but not the defining milestone for completing the execution phase.
Which is B2B market?
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Consumer buying coffee
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Hospital buying MRI
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Student buying book
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Tourist booking hotel
Explanation
Explanation
Correct answer: (B) Hospital buying MRI
A business-to-business (B2B) market involves transactions where one organization purchases goods or services from another organization for operational or institutional use. A hospital purchasing an MRI machine is a clear example of B2B because both parties are business entities, and the purchase supports the hospital’s service delivery rather than individual consumption. The other options involve individual consumers, which fall under B2C markets.
Regardless of the organizational structure used to manage a project, an organization elects to use a project management office (PMO). Which benefit will this organization gain
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Projects will capture historical records in a central repository.
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Projects will avoid the cost incurred from having redundant resources.
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Projects will receive enough funding to have an independent resource pool.
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Projects will produce more revenue than routine operations.
Explanation
Correct answer A. Projects will capture historical records in a central repository.
Explanation:
A PMO helps standardize processes and practices, including capturing project data, lessons learned, and other historical records in a centralized system.
Why the other options are incorrect:
B. Projects will avoid the cost incurred from having redundant resources. – The PMO's role is to improve consistency and processes, but avoiding redundant resources is not a guarantee.
C. Projects will receive enough funding to have an independent resource pool. – A PMO doesn't guarantee independent funding for all projects.
D. Projects will produce more revenue than routine operations. – The PMO focuses on project management practices, not directly on revenue generation.
Which task is logical to add below the visual design activity in the WBS
|
WBS ID |
Description |
|
1.0 |
Employee intranet |
|
1.1 |
Website design |
|
1.1.1 |
Define requirements |
|
1.1.1.1 |
Define user requirements |
|
1.1.1.2 |
Define content requirements |
|
1.1.1.3 |
Define technical requirements |
|
1.1.2 |
Visual design |
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1.2.1 Establish color scheme
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1.2.1 Install server hardware and software
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1.2 Website programming
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1.2.1 Website mock-up or prototype
Explanation
Correct Answer:
d. 1.2.1 Website mock-up or prototype
Explanation:
A website mock-up or prototype is the logical next step after visual design because it transforms the visual design concepts into a tangible representation of how the website will look and function. This follows a natural progression in website development where visual design elements are implemented into a prototype before moving to full development.
Why other options are incorrect:
- "1.2.1 Establish color scheme" is incorrect because color scheme selection should be part of the visual design phase, not after it
- "1.2.1 Install server hardware and software" is incorrect because infrastructure setup is typically done in parallel or later in the development process, not immediately after visual design
- "1.2 Website programming" is incorrect because it has an incorrect WBS numbering (1.2 is at the same level as visual design) and full programming would come after prototyping
A cellular company is considering two projects. However, due to budget constraints, they can only execute one of the projects. They evaluate both projects as if they were financial investments.
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Internal rate of return
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Scoring
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Sacred cow
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Checklist
Explanation
Explanation
Correct answer: (A) Internal rate of return
When organizations evaluate projects as financial investments, they use quantitative financial metrics to compare expected returns. The internal rate of return (IRR) is a capital budgeting method that calculates the profitability of an investment by determining the rate of return expected from each project. This allows decision-makers to compare projects objectively and select the one with the best financial outcome. Scoring models (B) use weighted criteria rather than strictly financial returns. A sacred cow (C) refers to a project pursued due to executive preference rather than objective analysis. A checklist (D) is a simple tool to ensure criteria are met but does not provide a financial comparison.
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