MGMT 404 Final Exam

MGMT 404 Final Exam Quality - CORRECT ANSWER-Which of the following best fits "Ensure that you develop the right products that will satisfy the needs for which the project is undertaken"? All projects must be aligned with programs in order to be included in a portfolio - CORRECT ANSWER-Which of the following is NOT true regarding portfolio management? Compare results of project performance against the baseline to measure project deviation from the plan - CORRECT ANSWER-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? Planning, Executing, Monitoring and Controlling - CORRECT ANSWER-Three of the phases of the project lifecycle are Monitoring and Controlling, Planning, and Executing. What is their correct order between Initiating and Closing? Highest in the beginning and decreases as the project progresses - CORRECT ANSWER-Which one is true about risk on a project? Team Management - CORRECT ANSWER-Which one of the following is NOT the name of a knowledge area of the PMBOK? Executing - CORRECT ANSWER-You have decided to outsource a piece of your project. You will conduct procurements using a process belonging to which process group? Progressive Elaboration - CORRECT ANSWER-Developing a more accurate, detailed project management plan over time as better understanding of project deliverables and objectives develops Each process must be performed at least once in a project - CORRECT ANSWER-Which is NOT true about project management processes? organizational process assets - CORRECT ANSWER-process or process-related assets that can be used to help the project succeed Mandatory project audit guidelines - CORRECT ANSWER-Which one of the following is not an enterprise environmental factor? PMO - CORRECT ANSWER-The project resource availability is at maximum in organizations with the following structure(s): Project Charter - CORRECT ANSWER-Which document is issued to authorize a project? Leads the project through the selection process until the project is authorized - CORRECT ANSWER-An important function of the Project Sponsor: Projectized - CORRECT ANSWER-Under which organizational structure are resources fully available for project work? Apply project management knowledge to deliver the planned project objectives - CORRECT ANSWER-The technical project management skill refers to the ability to Project Sponsor - CORRECT ANSWER-Who authorizes the project? 58% - CORRECT ANSWER-We estimate that we will spend $500,000.00 on the project. The benefits the first year are estimated at $790,000.00. What is the ROI? $65,142 - CORRECT ANSWER-We are working on a project X with estimated profit of $65,142.00. We are offered project Y to work on instead. Project Y has an estimated profit of $80,262.00. What is the opportunity cost of project Y? initiating, planning, executing, monitoring and controlling, and closing - CORRECT ANSWER-5 Process Groups Integration Management Scope Management