Project Management (C722)
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- Covers essential topics: project life cycle, scope, risk, communication, stakeholders, and more
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Free Project Management (C722) Questions
In Project C, all of the authorized scope was focused on doing research to identify the feasible approaches for meeting a new business requirement. The project team was given a not-to-exceed budget of $2 million and a fixed project completion date of September 30, 2016, but the project is running behind schedule. Which triple constraint can the project team adjust to complete the project on schedule
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Time
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Scope
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Risk
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Cost
Explanation
Identify the correct answer:
a. Time
Explanation for why it is correct:
Since the project is running behind schedule and the completion date is fixed, the project team can attempt to recover lost time by using strategies such as fast-tracking or crashing the schedule, which focuses on time management.
Why the other options are incorrect:
- b. Scope: The scope is fixed in this scenario, so adjusting it is not an option to meet the schedule.
- c. Risk: While risk management is important, it does not directly solve the problem of meeting the fixed deadline.
- d. Cost: Cost is fixed by the budget, and the issue at hand is about meeting the schedule, not adjusting the budget.
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 of the following statements correctly describes project management
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Project management applies knowledge, skills, tools, and techniques to project activities.
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Project management should not involve tradeoffs between scope, schedule, and cost.
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Project management only relies upon checklists to plan and execute the work.
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Project management's goal is to maintain efficiency of ongoing operations.
Explanation
Correct Answer A. Project management applies knowledge, skills, tools, and techniques to project activities.
Explanation:
Project management involves applying a range of knowledge, skills, tools, and techniques to effectively manage and complete projects. It ensures that project goals are achieved within the defined scope, quality, time, and cost constraints. Project management incorporates planning, executing, monitoring, controlling, and closing projects, requiring the use of various tools and techniques.
Why the other options are incorrect:
B. Project management should not involve tradeoffs between scope, schedule, and cost. – This is incorrect. Project management often requires balancing and making trade-offs between scope, schedule, and cost, known as the triple constraint. Adjusting one factor often impacts the others.
C. Project management only relies upon checklists to plan and execute the work. – This is inaccurate. While checklists are one tool, project management relies on a variety of tools and techniques, including Gantt charts, risk management plans, and performance metrics, among others.
D. Project management's goal is to maintain efficiency of ongoing operations. – This is incorrect. Project management focuses on specific, temporary projects with defined goals and outcomes, not on the continuous operations of the organization. Operations management handles ongoing processes.
What do the project phases (defining, planning, executing, and closing) help project managers conceptualize
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Each project team member's daily duties
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How the project will be maintained once completed
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The project customer's financial status
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The type of work that occurs
Explanation
Correct answer D. The type of work that occurs
Explanation:
The project phases help project managers conceptualize the different types of work involved at each stage of the project lifecycle, from initiation through to completion.
Why the other options are incorrect:
A. Each project team member's daily duties – The phases focus on the broader project activities, not daily duties of individual team members.
B. How the project will be maintained once completed – This is part of project closure and ongoing maintenance, but not the main focus of the phases.
C. The project customer's financial status – The phases do not directly address the customer's financial status, which is unrelated to the project's execution phases.
The following are PMBOK® knowledge areas except
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Project Integration Management
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Project Scope Management
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Project Cost Management
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Project Risk Management
- Project Research Management
Explanation
Correct Answer:
E. Project Research Management
Explanation:
"Project Research Management" is not a recognized knowledge area in the PMBOK® Guide. The PMBOK Guide includes knowledge areas such as Project Integration, Scope, Cost, and Risk Management.
Why the other options are correct:
A. Project Integration Management – This is a core knowledge area in project management that deals with the coordination of all aspects of a project.
B. Project Scope Management – This is another established knowledge area focused on defining and controlling the project scope.
C. Project Cost Management – This knowledge area focuses on managing the costs of the project and ensuring it is completed within the approved budget.
D. Project Risk Management – This area involves identifying, assessing, and mitigating risks in a project.
The project team is determining the duration for upgrading the software on the app used on its mobile devices. One technician indicated it takes approximately 13 minutes to complete the task when errors occur. Another technician indicated it takes approximately 12, and a third technician indicated it takes approximately 8 minutes under ideal conditions. Using three-point estimation, how many minutes does it take to upgrade one app on one mobile device
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20
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4
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5
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11
Explanation
Correct Answer:
D. 11
Explanation: The three-point estimation formula is (Optimistic + Pessimistic + 4 * Most Likely) / 6.
Using the values: (8 + 13 + 4 * 12) / 6 = (8 + 13 + 48) / 6 = 69 / 6 = 11.
Why the other options are incorrect:
A. 20 – This does not reflect the calculated average.
B. 4 – This is not the result of the three-point estimate calculation.
C. 5 – This is also not the result of the calculation for the three-point estimate.
Which action can an organization take to manage technical risk when updating computer data
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Delegate the task to external consultants.
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Instruct the computer programmer to arrive on time.
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Order new computers to replace the old.
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Maintain a backup file housed in a standby computer
Explanation
Correct Answer:
D. Maintain a backup file housed in a standby computer.
Explanation: Maintaining a backup file in case of data loss is an effective way to manage technical risk during data updates.
Why the other options are incorrect:
A. Delegate the task to external consultants. – Delegating tasks does not directly address the technical risk related to data updating.
B. Instruct the computer programmer to arrive on time. – While important for productivity, this does not address managing technical risk.
C. Order new computers to replace the old. – This action may be unrelated to managing the technical risk associated with data updates.
Which project management activity will most directly contribute to this strategic business initiative
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Project controls
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Project contracting
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Project execution
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Project scheduling
Explanation
Correct answer C. Project execution
Explanation:
The execution phase is where the plans are put into action. This activity will directly contribute to the development of the new business model and the delivery of the tailored service to customers. It involves the implementation of the strategies necessary to meet the initiative's objectives.
Why the other options are incorrect:
A. Project controls – While important for monitoring and managing the project, project controls focus on ensuring the project stays on track and does not directly contribute to the creation of the business model.
B. Project contracting – This focuses on the formalization of agreements and external parties involved but is not directly related to the business model’s development.
D. Project scheduling – Scheduling helps in organizing the timeline but does not directly contribute to the strategic business initiative of delivering a tailored service.
Which activity is accomplished as part of the executing process of a project
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Creating the network diagram
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Acquiring project team members
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Conducting a review of lessons learned
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Paying the outstanding vendor invoices
Explanation
Correct Answer:
B. Acquiring project team members
Explanation: Acquiring project team members is part of the executing process as it involves assembling the team needed to carry out the project tasks.
Why the other options are wrong:
A. Creating the network diagram – This is part of the planning process, not the execution phase.
C. Conducting a review of lessons learned – This is typically done at the closing phase or at the end of project milestones.
D. Paying the outstanding vendor invoices – This activity falls under the closing or monitoring and controlling phases, not the execution phase.
All projects consist of nine knowledge areas. Which knowledge area contains the 'identifying project stakeholders' process
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Project risk management
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Project integration management
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Project scope management
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Project communications management
Explanation
Correct Answer:
b. Project integration management
Explanation: The process of identifying project stakeholders falls under Project Integration Management, which involves the processes needed to identify, engage, and manage stakeholders throughout the project lifecycle. It is essential for ensuring that stakeholders' expectations are understood and aligned with the project's objectives.
Why the other options are incorrect:
a. Project risk management – Involves identifying and managing risks, not identifying stakeholders.
c. Project scope management – Focuses on defining and controlling the project's scope, not on identifying stakeholders.
d. Project communications management – Deals with planning, managing, and monitoring project communications, but not specifically with stakeholder identification.
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MGMT 3400 C722 Project Management Study Notes
1. Introduction to Project Management
A project is a temporary endeavor undertaken to create a unique product, service, or result. It has a defined beginning and end, specific objectives, and constraints such as scope, time, and cost.
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Developing a new mobile application.
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Constructing a bridge.
- Organizing a corporate event.
1.2 Project Management Definition
Project Management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements.
- A software company launching a new product follows a structured process to define scope, allocate resources, and set deadlines.
2. Project Life Cycle & Phases
A project typically follows a structured lifecycle that consists of five key phases:
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Define the project.
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Identify stakeholders.
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Conduct feasibility studies.
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Develop a business case.
- Create the project charter (formal document outlining objectives, scope, and stakeholders).
- A company wants to develop a new website. They analyze market demand, estimate costs, and determine feasibility before approving the project.
2.2 Planning Phase
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Define project scope.
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Develop the project schedule.
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Estimate costs and create a budget.
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Identify risks and develop mitigation strategies.
- Assign tasks and resources.
Tools Used:
- An IT team planning a software update creates a detailed schedule using a Gantt Chart to allocate tasks and set deadlines.
2.3 Execution Phase
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Implement project plans.
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Coordinate people and resources.
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Track progress and performance.
- Communicate with stakeholders.
- A construction company starts building a shopping mall by following the architectural plan and ensuring labor and materials are available on time.
2.4 Monitoring & Controlling Phase
- Track project performance.
- Manage risks and issues.
- Adjust plans if necessary.
- A marketing campaign team uses Key Performance Indicators (KPIs) to measure ad engagement and adjust strategies accordingly.
2.5 Closure Phase
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Finalize project deliverables.
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Conduct project evaluation.
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Document lessons learned.
- Release resources.
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After launching a new product, a company conducts a project review to assess what worked well and what didn’t.
3. Project Constraints (Triple Constraint)
Projects are constrained by three main factors:
- Scope – The work required to meet project objectives.
- Time – The deadline for completing the project.
- Cost – The budget allocated to complete the project.
These three elements are interdependent: changing one will likely affect the others.
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If a company wants to add more features to an app (scope increase), they may need more time (schedule extension) and a larger budget (cost increase).
4. Project Management Methodologies
Different project methodologies provide structured approaches to managing projects.
A linear, step-by-step approach where each phase is completed before moving to the next.
- Well-defined projects with clear requirements (e.g., Construction projects).
An iterative approach that delivers work in small increments, adapting to changes as needed.
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Software development and projects requiring flexibility.
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A tech startup developing a new app uses Agile, releasing updates in small iterations based on user feedback.
4.3 Scrum Framework
A subset of Agile where teams work in short cycles called sprints (usually 2-4 weeks).
- Scrum Master – Facilitates processes and removes blockers.
- Product Owner – Defines project goals.
- Development Team – Works on deliverables.
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A game development team uses Scrum to create new features every two weeks.
4.4 Kanban
A visual workflow management approach where tasks move through stages (e.g., To Do → In Progress → Done).
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Continuous delivery projects like IT service management.
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A customer support team uses Kanban boards to track incoming support tickets.
5. Key Project Management Processes
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Defines what is included/excluded in the project.
- Uses Work Breakdown Structure (WBS) to divide work into smaller tasks.
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A website development team lists key features (homepage, contact form, blog) in a WBS.
5.2 Time Management
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Uses scheduling techniques like:
- Critical Path Method (CPM) – Identifies essential tasks.
- Gantt Charts – Visual timeline of tasks.
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A hospital renovation project uses CPM to ensure critical tasks (foundation work, electrical wiring) are prioritized.
5.3 Cost Management
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Budget estimation and tracking.
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A movie production team calculates costs for actors, sets, and marketing.
5.4 Risk Management
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Identifying, analyzing, and mitigating risks.
- Uses Risk Register (document listing risks, impact, and responses).
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A construction project in a hurricane-prone area includes backup power sources as a risk mitigation measure.
5.5 Communication Management
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Ensures effective information flow among stakeholders.
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A multinational company uses weekly Zoom meetings for project updates.
5.6 Stakeholder Management
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Identifying and managing relationships with people affected by the project.
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A government project engages community leaders to gain public support.
6. Project Management Tools
Used for scheduling, task management, and resource allocation.
6.2 Trello
A visual task management tool using Kanban boards.
6.3 Jira
A tool used for Agile and Scrum project management.
6.4 Monday.com
A collaborative project management tool.
Example:
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A marketing team uses Trello to track content creation.
7. Project Management Challenges & Solutions
Challenge: Uncontrolled expansion of project scope without adjustments to time and cost.
Solution: Use a strict change control process to evaluate new requests.
7.2 Budget Overruns
Challenge: Project costs exceed the planned budget.
Solution: Regularly monitor expenses and adjust the budget accordingly.
7.3 Poor Communication
Challenge: Misalignment among team members.
Solution: Use collaboration tools (Slack, Teams) and frequent status meetings.
7.4 Resource Allocation Issues
Challenge: Limited resources delay the project.
Solution: Optimize workload distribution and outsource when needed.
8. Conclusion
Project management is essential for the successful completion of projects within time, budget, and scope. Using structured methodologies, proper planning, and effective communication ensures efficiency and risk mitigation.
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Google’s Project Loon: Used Agile to launch internet balloons for remote areas.
- NASA’s Mars Rover: Used Waterfall methodology for mission-critical planning.
Project Management Sample Practice Question
Question: Project Constraints
A project manager is leading a software development project with a fixed deadline. During execution, stakeholders request additional features that were not part of the original scope. The project manager is concerned about the impact on resources and budget. This scenario best illustrates a challenge related to:
A) Scope Creep
B) Risk Management
C) Stakeholder Communication
D) Quality Assurance
Correct Answer: A) Scope Creep
B) Risk Management: While risk management is essential in handling uncertainties, scope creep is a specific issue related to uncontrolled changes in project scope rather than general risk identification and mitigation.
C) Stakeholder Communication: Poor communication can contribute to scope creep, but the core issue here is the addition of unplanned features rather than miscommunication.
D) Quality Assurance: Ensuring quality is important, but quality assurance focuses on meeting predefined standards rather than managing changes in scope.
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