MANAGEMENT EXAM 2 EXAM SCRIPT 2026 COMPLETE QUESTIONS AND CORRECT ANSWERS

MANAGEMENT EXAM PACKAGE STUDY
GUIDE 2026 QUESTIONS WITH ANSWERS
GRADED A+

◉ Five Characteristics of a Project. Answer: Temporary, Unique,
Requires resources, Cross-functional involvement, Specific objectives
(time/cost/performance).


◉ What is NOT a project?. Answer: Ongoing operations, repetitive
tasks, daily production work.


◉ Program. Answer: A group of related projects managed in a
coordinated way.


◉ Project Life Cycle (Traditional). Answer: Defining, Planning,
Executing, Delivering.


◉ Defining Phase. Answer: Clarifies scope, objectives, stakeholders,
and feasibility.


◉ Planning Phase. Answer: Develops WBS, schedule, budget, risk plan,
and communication plan.


◉ Executing Phase. Answer: Completing the work and managing
people/resources.

, ◉ Delivering Phase. Answer: Final product delivery, customer
acceptance, and lessons learned.


◉ Triple Constraint. Answer: Time, Cost, Scope (Performance).


◉ Project Manager Responsibilities. Answer: Balancing constraints,
leading team, managing risk, communication, conflict resolution.


◉ Agile Project Management. Answer: An iterative and flexible
approach suited for uncertain and fast-changing projects.


◉ Agile is Best For. Answer: Software development, innovation,
evolving customer requirements.


◉ Current Drivers of Project Management. Answer: Global competition,
rapid tech change, shorter product life cycles, customer focus, economic
pressure.


◉ Socio-Technical Approach. Answer: Balancing technical planning
(tools/schedules) with sociocultural leadership (people/culture).


◉ Technical Dimension of PM. Answer: Schedules, budgets, WBS, risk
analysis, systems.