MGT 325 EXAM 1 QUESTIONS | VERIFIED ACCURATE
ANSWERS | 2026
What is a project? - Answers -Definition: A complex, non-routine, one-time effort limited
by time, budget, resources, and performance specifications designed to meet customer
needs.
A project is a temporary endeavor undertaken to create a unique product, service, or
result.
Major characteristics of a project - Answers -- Has an established objective.
- Has a defined life span with a beginning and an end.
- Requires cross-organizational participation.
- Accomplishes non-routine tasks
- Has specific time, cost, and performance requirements.
What is Project Management? - Answers -Project management is the application of
knowledge, skills, tools and techniques to project activities to meet project
requirements.
Managing a project includes: - Answers -- Identifying requirements
-Addressing the needs of stakeholders
- Balancing the competing project constraints of:
Scope
Quality
Schedule
Budget
Resources
Risk
Program defined - Answers -A program is a group of related projects managed in a
coordinated way to obtain benefits and control not available from managing them
individually.
Primary difference between Program vs. Project - Answers -Scale and Life-span
, The project life cycle - Answers -The life cycle recognizes that projects have a limited
life span and that there are predictable changes in level of effort and focus over the life
of the project.
The project life cycle typically passes sequentially through four stages: defining,
planning, executing, and delivering.
Defining stage - Answers -Specifications of the project are defined; project objectives
are established; teams are formed; major responsibilities are assigned.
Planning stage - Answers -The level of effort increases, and plans are developed to
determine what the project will entail, when it will be scheduled, whom it will benefit,
what quality level should be maintained, and what the budget will be.
Executing stage - Answers -A major portion of the project work takes place—both
physical and mental. The physical product is produced (a bridge, a report, a software
program).
Closing stage - Answers -Closing includes three activities: delivering the project
product to the customer, redeploying project resources, and post-project review.
Delivery of the project might include customer training and transferring documents.
Redeployment usually involves releasing project equipment/materials to other projects
and finding new assignments for team members.
The project manager - Answers -Typically perform the same functions as other
managers. That is, they plan, schedule, motivate, and control. However, what makes
them unique is that they manage temporary, nonrepetitive activities, to complete a fixed
life project. Unlike functional managers, who take over existing operations, project
managers create a project team and organization where none existed before. They
must decide what and how things should be done instead of simply managing set
processes.
-Project managers are ultimately responsible for performance
Project managers must work with a diverse troupe of characters to complete projects.
They are typically the direct link to the customer and must manage the tension between
customer expectations and what is feasible and reasonable.
Question 1 - define a project. what are the five characteristics that help differentiate
projects from other functions carried out in the daily operations of the organization? -
Answers -A project is a complex, no routine, off-time effort limited by time, budget,
resources, and performance specifications designed to meet customer needs. The five
characteristics are
• A defined life span with a beginning and an end
• Involvement of several departments
• Doing something unique
ANSWERS | 2026
What is a project? - Answers -Definition: A complex, non-routine, one-time effort limited
by time, budget, resources, and performance specifications designed to meet customer
needs.
A project is a temporary endeavor undertaken to create a unique product, service, or
result.
Major characteristics of a project - Answers -- Has an established objective.
- Has a defined life span with a beginning and an end.
- Requires cross-organizational participation.
- Accomplishes non-routine tasks
- Has specific time, cost, and performance requirements.
What is Project Management? - Answers -Project management is the application of
knowledge, skills, tools and techniques to project activities to meet project
requirements.
Managing a project includes: - Answers -- Identifying requirements
-Addressing the needs of stakeholders
- Balancing the competing project constraints of:
Scope
Quality
Schedule
Budget
Resources
Risk
Program defined - Answers -A program is a group of related projects managed in a
coordinated way to obtain benefits and control not available from managing them
individually.
Primary difference between Program vs. Project - Answers -Scale and Life-span
, The project life cycle - Answers -The life cycle recognizes that projects have a limited
life span and that there are predictable changes in level of effort and focus over the life
of the project.
The project life cycle typically passes sequentially through four stages: defining,
planning, executing, and delivering.
Defining stage - Answers -Specifications of the project are defined; project objectives
are established; teams are formed; major responsibilities are assigned.
Planning stage - Answers -The level of effort increases, and plans are developed to
determine what the project will entail, when it will be scheduled, whom it will benefit,
what quality level should be maintained, and what the budget will be.
Executing stage - Answers -A major portion of the project work takes place—both
physical and mental. The physical product is produced (a bridge, a report, a software
program).
Closing stage - Answers -Closing includes three activities: delivering the project
product to the customer, redeploying project resources, and post-project review.
Delivery of the project might include customer training and transferring documents.
Redeployment usually involves releasing project equipment/materials to other projects
and finding new assignments for team members.
The project manager - Answers -Typically perform the same functions as other
managers. That is, they plan, schedule, motivate, and control. However, what makes
them unique is that they manage temporary, nonrepetitive activities, to complete a fixed
life project. Unlike functional managers, who take over existing operations, project
managers create a project team and organization where none existed before. They
must decide what and how things should be done instead of simply managing set
processes.
-Project managers are ultimately responsible for performance
Project managers must work with a diverse troupe of characters to complete projects.
They are typically the direct link to the customer and must manage the tension between
customer expectations and what is feasible and reasonable.
Question 1 - define a project. what are the five characteristics that help differentiate
projects from other functions carried out in the daily operations of the organization? -
Answers -A project is a complex, no routine, off-time effort limited by time, budget,
resources, and performance specifications designed to meet customer needs. The five
characteristics are
• A defined life span with a beginning and an end
• Involvement of several departments
• Doing something unique
