MGMT 404 HW 1 2023 with verified questions and answers

Which of the following best fits "Ensure that you develop the right products that will satisfy the needs for which the project is undertaken"? (a) Scope (b) Resources (c) Quality (d) Integration C Which of the following is NOT true regarding portfolio management? (a) A portfolio is an interface of the firm's projects and programs to its strategy (b) Investments are usually made at the portfolio level (c) All projects must be aligned with programs in order to be included in a portfolio (d) A triangular relationship exists between projects, programs and portfolios C The purpose of monitoring and controlling is to make sure the project is executed as planned. Which of the following is a step performed during this process group? (a) The vendor turns over the final deliverables for the project (b) Create the work breakdown structure for the project (c) Compare results of project performance against the baseline to measure project deviation from the plan (d) The stakeholders define the project requirements C Three of the phases of the project lifecycle are Monitoring and Controlling, Planning, and Executing. What is their correct order between Initiating and Closing? (a) Monitoring and Controlling, Planning, Executing (b) Planning, Executing, Monitoring and Controlling (c) Planning, Monitoring and Controlling, Executing (d) Executing, Monitoring and Controlling, Planning B Which of the following is NOT true? (a) Samsung Note 8 production is an example of a project (b) Projects are not repetitive (c) A project yields some specific output (d) Every project is unique A Which one is true about risk on a project? (a) Uniform through the project (b) Highest in the beginning and decreases as the project progresses (c) Highest in the beginning and end of the project and lowest when the project is being executed (d) Low in the beginning, maximum when the project is being executed B Which one of the following is NOT the name of a knowledge area of the PMBOK? (a) Quality Management (b) Schedule Management (c) Team Management (d) Procurement Management C You have decided to outsource a piece of your project. You will conduct procurements using a process belonging to which process group? (a) Planning (b) Monitoring and Controlling (c) Initiating (d) Executing D Which of the following is the best definition of progressive elaboration? (a) Taking the project from initiating to closing (b) Decomposing the project objectives into smaller, more manageable work (c) Developing a more accurate, detailed project management plan over time as better understanding of project deliverables and objectives develops (d) Taking the project from conception to completion C Which is NOT true about project management processes? (a) A process is performed to accomplish a specific task of process management (b) Each process must be performed at least once in a project (c) A process can be performed more than once in the same project (d) A process belongs to a knowledge area and also to a process group B