Project Management Progression - Qp2 | Attempts: 230

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| By Jackson Matthews

Jackson Matthews

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Quizzes Created: 588 | Total Attempts: 699,834

Questions: 12 | Attempts: 230 | Updated: Mar 16, 2023

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Project Management Progression - Qp2 - Quiz

Project management is essential because this helps us to ensure a proper plan for executing on strategic goals. Project management tools are aimed to assist an individual or team to organize work and manage projects and tasks effectively. Below is the second quiz in a series that of tests designed to test your knowledge in project management. Give it a shot and keep revising!

Questions and Answers

1.

Before a project is actually planned and carried out, you need to be sure that there is a good reason for doing it.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
Before starting a project, it is essential to ensure that there is a valid and compelling reason for undertaking it. This step helps to justify the allocation of resources, time, and effort towards the project. Without a good reason, the project may lack purpose and direction, leading to potential waste of resources and failure to achieve desired outcomes. Therefore, confirming the existence of a solid rationale is crucial before initiating any project.

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2.

There are lots of reasons why new ideas emerge within business organisations and then become projects, which includes: (Select five)
- A.
  
  Changes in legislation which force changes in ways of working or materials used in manufacturing
- B.
  
  Economic changes which encourage changes in ways of working to become more efficient
- C.
  
  Competition in the market place encouraging development of new products or services
- D.
  
  Disadvantages or changes in technology allowing new products or services to be developed or new, more efficient ways of working
- E.
  
  Closing down sectors or services that have ceased to be profitable or useful
- F.
  
  Recognition of old needs of customers or service users of the organisation
- G.
  
  A one off event, product or service
Correct Answer(s)
A. Changes in legislation which force changes in ways of working or materials used in manufacturing
B. Economic changes which encourage changes in ways of working to become more efficient
C. Competition in the market place encouraging development of new products or services
E. Closing down sectors or services that have ceased to be profitable or useful
G. A one off event, product or service

Explanation
New ideas often emerge within business organizations and become projects due to various reasons. Changes in legislation can force organizations to adapt their ways of working or materials used in manufacturing. Economic changes can encourage organizations to find more efficient ways of working. Competition in the market can drive the development of new products or services. Closing down unprofitable or obsolete sectors or services can create opportunities for new ideas. Finally, a one-off event, product, or service can also spark new ideas within an organization.

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3.

In the feasibility study, the financial question you need to answer is, whether the project is worth the money that is being spent on it.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
In a feasibility study, one of the key aspects to consider is the financial viability of the project. This involves evaluating whether the project's benefits outweigh its costs and if it is a worthwhile investment. By determining if the project is worth the money being spent on it, decision-makers can make informed choices about its feasibility and potential profitability. Therefore, the statement "True" accurately reflects the financial question that needs to be answered in a feasibility study.

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4.

Intangible costs are costs of things you can easily identify such as materials you buy for the project.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
The statement is false because intangible costs are costs that cannot be easily identified or quantified. They refer to costs that are not directly related to physical materials or purchases, but rather to factors such as time, effort, and opportunity costs. These costs are often associated with things like training, research, and development, or lost productivity.

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5.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
The given correct answer is "True."

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6.

Environmental and Social feasibility looks at the technology that the project requires and whether that is available or can be made available within the project budget or within the organisation.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
The explanation for the given correct answer is that environmental and social feasibility does not solely focus on the technology required for a project and its availability within the budget or organization. Environmental and social feasibility also considers the impact of the project on the environment and society, including factors such as sustainability, social acceptance, and compliance with regulations. Therefore, the statement provided in the question is incorrect.

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7.

Projects will always fail if they take too long to complete so that they become obsolete before they can become properly implemented.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
If projects take too long to complete, there is a higher chance that the technology or requirements they were based on become outdated or irrelevant. This can lead to the project becoming obsolete before it can be fully implemented. Therefore, it is true that projects will always fail if they take too long to complete.

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8.

Before the feasibility study has been carried out, the organisation should be in a position to know whether the project is worthwhile or not.
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
The statement is false because the feasibility study is specifically conducted to determine whether a project is worthwhile or not. It assesses the project's technical, economic, legal, operational, and scheduling aspects to determine its viability. Therefore, the organisation cannot know whether the project is worthwhile or not before conducting the feasibility study.

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9.

A good place to start when planning is to list the ‘deliverables’ of the project.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
When planning a project, it is important to identify and list the deliverables, which are the tangible outcomes or results that need to be produced. This helps to define the scope and objectives of the project, as well as provide a clear understanding of what needs to be accomplished. By listing the deliverables at the beginning of the planning process, it becomes easier to prioritize tasks, allocate resources, and track progress throughout the project. Therefore, the statement "A good place to start when planning is to list the 'deliverables' of the project" is true.

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10.

The project plan is something that will be revisited and revised throughout the project.
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
The project plan is a dynamic document that is continuously reviewed and updated as the project progresses. This is because project requirements, resources, and constraints may change over time, requiring adjustments to the plan. Regularly revisiting and revising the project plan ensures that it remains relevant and aligned with the project objectives. Therefore, the statement "The project plan is something that will be revisited and revised throughout the project" is true.

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Current Version
Mar 16, 2023

Quiz Edited by
ProProfs Editorial Team
Jul 08, 2014

Quiz Created by
Jackson Matthews

Project Management Progression - Qp2

Before a project is actually planned and carried out, you need to be sure that there is a good reason for doing it.

There are lots of reasons why new ideas emerge within business organisations and then become projects, which includes: (Select five)

In the feasibility study, the financial question you need to answer is, whether the project is worth the money that is being spent on it.

Intangible costs are costs of things you can easily identify such as materials you buy for the project.

Environmental and Social feasibility looks at the technology that the project requires and whether that is available or can be made available within the project budget or within the organisation.

Projects will always fail if they take too long to complete so that they become obsolete before they can become properly implemented.

Before the feasibility study has been carried out, the organisation should be in a position to know whether the project is worthwhile or not.

A good place to start when planning is to list the ‘deliverables’ of the project.

The project plan is something that will be revisited and revised throughout the project.