1.
Approximately what percentage of the world's gross domestic product is spent on projects?
Correct Answer
B. 25 percent
Explanation
Approximately 25 percent of the world's gross domestic product is spent on projects. This means that a quarter of the total economic output of the world is allocated towards various projects. These projects can include infrastructure development, research and development, public services, and other initiatives aimed at improving the economy and society. This significant percentage highlights the importance of projects in driving economic growth and development globally.
2.
Which of the following is not a potential advantage of using good project management?
Correct Answer
C. Lower cost of capital
Explanation
Using good project management can lead to shorter development times, higher worker morale, and higher profit margins. However, it is not a direct advantage in terms of lowering the cost of capital. Project management focuses on efficient resource allocation and effective planning, which can indirectly contribute to cost savings. However, the cost of capital is primarily determined by external factors such as interest rates and market conditions, rather than project management practices.
3.
A ________ is a temporary endeavor undertaken to create a unique product, service, or result.
Correct Answer
C. Project
Explanation
A project is a temporary endeavor undertaken to create a unique product, service, or result. It is a specific task or objective that has a defined beginning and end, and it involves a set of activities and resources to achieve the desired outcome. Unlike programs or processes, which are more ongoing and repetitive in nature, a project has a clear goal and a limited timeframe. Therefore, a project is the correct answer in this context.
4.
Which of the following is not an attribute of a project?
Correct Answer
D. Projects involve little uncertainty
Explanation
The given answer states that "projects involve little uncertainty" is not an attribute of a project. This means that projects are not characterized by low levels of uncertainty. In reality, projects are often associated with a certain level of uncertainty due to various factors such as changing requirements, unforeseen obstacles, and external influences. Uncertainty is inherent in project management and needs to be managed effectively to ensure project success.
5.
Which of the following is not part of the triple constraint of project management?
Correct Answer
C. Meeting communication goals
Explanation
The triple constraint of project management refers to the three key factors that are interdependent and must be balanced in order to achieve project success: scope, time, and cost. Meeting communication goals is not typically considered as part of the triple constraint. While effective communication is crucial for project success, it is not considered a constraint in the same way as scope, time, and cost.
6.
Project portfolio management addresses _________ goals.
Correct Answer
A. Strategic
Explanation
Project portfolio management addresses strategic goals. This is because project portfolio management involves the process of selecting and managing a portfolio of projects that align with an organization's strategic objectives. It helps organizations prioritize and allocate resources to projects that will contribute to the overall strategic direction and long-term success of the organization. By focusing on strategic goals, project portfolio management ensures that projects are aligned with the organization's vision and mission, and helps maximize the value and benefits derived from project investments.
7.
Project management addresses _________ goals.
Correct Answer
B. Tactical
Explanation
Project management addresses tactical goals. Tactical goals refer to short-term objectives and actions that are necessary to achieve strategic goals. In project management, the focus is on planning, organizing, and executing specific projects to meet these tactical goals. This involves coordinating resources, managing timelines, and ensuring that project deliverables are completed successfully. By addressing tactical goals, project management helps organizations achieve their overall strategic objectives.
8.
Several applications development projects done for the same functional group might best be managed as part of a ____________
Correct Answer
A. Portfolio
Explanation
When multiple application development projects are done for the same functional group, it is most efficient to manage them as part of a portfolio. A portfolio approach allows for centralized management and coordination of these projects, ensuring that resources are allocated effectively, risks are managed, and strategic goals are achieved. By grouping these projects together under a portfolio, organizations can prioritize and monitor progress, make informed decisions, and optimize the overall performance and value of the projects.
9.
Which of the following is not one of the top ten skills or competencies of an effective project manager?
Correct Answer
D. Technical Skills
Explanation
An effective project manager needs to possess a wide range of skills and competencies to successfully lead and manage projects. People skills are crucial as they involve effective communication, collaboration, and team building. Leadership is essential for guiding and motivating team members towards project goals. Integrity is important for maintaining ethical standards and trust within the team. However, technical skills are not listed as one of the top ten skills or competencies, indicating that while they may be valuable, they are not considered as essential as the other mentioned skills for an effective project manager.
10.
What is the certification program called that the Program Management Institute provides?
Correct Answer
B. Project Management Professional (PMP)
Explanation
The correct answer is Project Management Professional (PMP). The Program Management Institute provides a certification program called PMP. This program is designed to validate and demonstrate the knowledge and skills of project managers. It is a globally recognized certification that signifies a high level of competence in project management.