Project Management Chapter 1 And 2 Quiz!
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Do you know anything about project management, and do you think you can pass this quiz? Project management is the process of leading a team's work to achieve goals and achieve success criteria at a given time. The project manager's ambition is to get as much done as possible within a specific time frame with a limited budget. If you choose to learn more about project management, look no further than this quiz.
Questions and Answers
- 1.
A _________ is "a temporary endeavor undertaken to create a unique product, service, or result."
Explanation
A project is a temporary endeavor undertaken to create a unique product, service, or result. This means that a project is a specific task or assignment that has a defined start and end date, and it aims to achieve a specific outcome. Projects are different from ongoing operations as they have a clear objective and a defined scope. They require a dedicated team and resources to complete the work within the given time frame.Rate this question:
- 2.
__________ hides the physical characteristics of computing resources from their users, such as making a single server, operating system, application, or storage device appear to function as multiple virtual resources.
Explanation
Virtualization is the process of creating virtual or simulated versions of physical resources, such as servers, operating systems, applications, or storage devices. It allows multiple virtual resources to be created from a single physical resource, effectively hiding the physical characteristics from the users. This technology enables better utilization of resources, improved flexibility, scalability, and easier management of the computing environment.Rate this question:
- 3.
Every project should have a well-defined _______.
Explanation
Every project should have a well-defined objective. This is because an objective serves as a clear and specific goal that the project aims to achieve. It provides direction and purpose to the project, guiding the team's efforts and decision-making. Without a well-defined objective, the project may lack focus and may not be able to deliver the desired outcomes. Having a clear objective also helps in measuring the success and progress of the project.Rate this question:
- 4.
A project is _________.
Explanation
A project is temporary because it has a defined beginning and end. It is not an ongoing or permanent endeavor. Projects are undertaken to achieve specific goals and objectives within a certain timeframe. Once the project is completed and its objectives are met, it is terminated. This temporary nature distinguishes projects from ongoing operations or continuous activities.Rate this question:
- 5.
A project is developed using __________ elaboration.
Explanation
In project development, progressive elaboration refers to the iterative process of continuously refining and expanding the project details and requirements as more information becomes available. This approach allows for flexibility and adaptability in project planning and execution, as it acknowledges that not all information can be known upfront. By progressively elaborating on the project, teams can make informed decisions and adjustments throughout the development process, resulting in a more successful and accurate end product.Rate this question:
- 6.
_________ include people, hardware, software, and other assets.
Explanation
The term "resources" refers to a wide range of elements that are essential for any organization or project. This can include people, who contribute their skills and expertise, as well as hardware and software, which are necessary tools for carrying out tasks. Additionally, other assets such as equipment, facilities, and financial resources are also considered resources. In summary, resources encompass all the necessary components that are required to achieve goals and complete projects successfully.Rate this question:
- 7.
A project should have a primary customer or _________.
Explanation
A project should have a primary customer or sponsor because this individual or organization provides the necessary financial resources, support, and guidance throughout the project's lifecycle. The sponsor is responsible for defining the project's objectives, ensuring its alignment with organizational goals, and advocating for its success. They also play a crucial role in decision-making, risk management, and resolving any conflicts or issues that may arise. Without a sponsor, a project may lack the necessary direction, resources, and support to be successful.Rate this question:
- 8.
A project involves ________.
Explanation
A project involves uncertainty because it typically involves unknown factors, risks, and variables that can impact the outcome or success of the project. Uncertainty can arise from various sources such as changing requirements, limited resources, unforeseen events, and external factors. Managing and mitigating uncertainty is an essential part of project management to ensure successful delivery and minimize potential negative impacts.Rate this question:
- 9.
Every project is constrained in different ways by its scope, time, and cost goals and is known as the ________ ________.
Explanation
The triple constraint refers to the three main factors that limit and impact a project: scope, time, and cost goals. These factors are interrelated and any changes or adjustments to one will have an impact on the others. For example, if the scope of a project is increased, it may require more time and resources, thus affecting the cost. Similarly, if the time frame is shortened, it may require reducing the scope or increasing the cost to meet the deadline. The triple constraint is a fundamental concept in project management and helps in balancing and managing these constraints effectively.Rate this question:
- 10.
________ is often a key factor in projects, as is customer or sponsor satisfaction.
Explanation
Quality is often a key factor in projects because it directly impacts the overall success and satisfaction of the customer or sponsor. When a project is completed with high quality standards, it ensures that the deliverables meet the required specifications and fulfill the intended purpose. This leads to customer or sponsor satisfaction, as their expectations are met or exceeded. Therefore, maintaining and prioritizing quality throughout the project lifecycle is crucial for achieving successful outcomes and stakeholder satisfaction.Rate this question:
- 11.
_________ __________ is "the application of knowledge, skills, tools and techniques to project activities to meet project requirements."
Explanation
Project management is the process of applying knowledge, skills, tools, and techniques to project activities in order to meet project requirements. It involves planning, organizing, and controlling all aspects of a project, including scope, time, cost, quality, communication, and risk management. By effectively managing these elements, project managers ensure that projects are completed on time, within budget, and to the satisfaction of stakeholders.Rate this question:
- 12.
Good project managers do not assume that their definition of ________ is the same as the sponsors'.
Explanation
Good project managers do not assume that their definition of success is the same as the sponsors'. This is because different stakeholders may have different expectations and criteria for measuring success. By not assuming, project managers can ensure that they have a clear understanding of the sponsors' expectations and align their goals and efforts accordingly. This helps in avoiding misunderstandings and ensures that the project is successful in the eyes of the sponsors.Rate this question:
- 13.
A _________ is "a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually."
Explanation
A program refers to a collection of interconnected projects that are managed together in order to achieve benefits and control that cannot be attained by managing them individually. By coordinating and aligning the projects within a program, organizations can optimize resources, streamline communication, and achieve synergies that lead to greater efficiency and effectiveness. Programs often involve complex and interdependent initiatives that share common objectives, stakeholders, and dependencies, requiring a holistic approach to management.Rate this question:
- 14.
A _______ ________ provides leadership and direction for the project managers heading the projects within a program.
Explanation
A program manager is responsible for providing leadership and direction to project managers who are overseeing various projects within a program. They ensure that the projects align with the program's goals and objectives, coordinate resources, and monitor progress to ensure successful completion. The program manager acts as a central point of contact, facilitates communication between project managers, and makes strategic decisions to ensure the overall success of the program.Rate this question:
- 15.
A _____ _____ is "an optimal way recognized by the industry to achieve a stated goal or objective."
Explanation
A best practice refers to a method or approach that is widely accepted and acknowledged by the industry as the most effective way to achieve a specific goal or objective. It is considered optimal because it has been proven to produce successful results and is endorsed by experts or experienced professionals in the field. Best practices are often based on research, analysis, and past experiences, and they serve as a benchmark for organizations to improve their performance and achieve desired outcomes.Rate this question:
- 16.
Project managers often take on the role of both leader and ______.
Explanation
Project managers often take on the role of both leader and manager because they are responsible for overseeing the project and ensuring its successful completion. As a leader, they provide guidance, motivate the team, and make strategic decisions. As a manager, they handle the day-to-day operations, allocate resources, and ensure that tasks are completed on time. By balancing both roles, project managers can effectively lead their team while also managing the project's progress and meeting its objectives.Rate this question:
- 17.
A _______ _______ is a standard format for displaying project schedule information by listening to project activities and their corresponding start and finish dates in a calendar format.
Explanation
A Gantt chart is a visual representation of a project schedule, displaying project activities and their respective start and finish dates in a calendar format. It allows project managers and team members to easily track progress, identify dependencies, and allocate resources effectively. By using horizontal bars to represent tasks and their durations, a Gantt chart provides a clear overview of the project timeline and helps in planning and scheduling tasks efficiently.Rate this question:
- 18.
_______ _______ is the longest path through a network diagram that determines the earliest completion of a project.
Explanation
The critical path is the longest path through a network diagram that determines the earliest completion of a project. It includes all the tasks that must be completed in order to finish the project on time. Any delay in the critical path tasks will directly impact the project's timeline. By identifying the critical path, project managers can prioritize tasks, allocate resources, and ensure that the project stays on schedule.Rate this question:
- 19.
A ______ ________ _________ (PMO) is an organizational group responsible for coordinating the project management function throughout an organization.
Explanation
A Project Management Office (PMO) is a dedicated group within an organization that is responsible for overseeing and coordinating all aspects of project management. This includes providing guidance, standards, and support to project managers, as well as ensuring that projects are aligned with the organization's strategic goals and objectives. The PMO serves as a central hub for project-related information, resources, and best practices, helping to streamline processes, improve communication, and drive project success.Rate this question:
- 20.
Approximately what percentage of the world's gross domestic product is spent on projects?
- A.
10%
- B.
25%
- C.
50%
- D.
75%
Correct Answer
B. 25%Explanation
Approximately 25% of the world's gross domestic product is spent on projects. This implies that a significant portion of global economic output is allocated towards various projects, such as infrastructure development, research, and investment initiatives. This substantial investment highlights the importance of projects in driving economic growth and development worldwide.Rate this question:
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- 21.
Which of the following is not a potential advantage of using good project management?
- A.
Shorter development times
- B.
Higher worker morale
- C.
Lower cost of capital
- D.
Higher profit margins
Correct Answer
C. Lower cost of capitalExplanation
Lower cost of capital is not a potential advantage of using good project management because project management primarily focuses on efficient utilization of resources and effective coordination of tasks to achieve project objectives. While good project management can lead to shorter development times, higher worker morale, and higher profit margins, it does not directly impact the cost of capital, which is determined by factors such as interest rates, market conditions, and the company's financial position.Rate this question:
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- 22.
A __________ is a temporary endeavor undertaken to create a unique product, service, or result.
- A.
Program
- B.
Process
- C.
Project
- D.
Portfolio
Correct Answer
C. ProjectExplanation
A project is a temporary endeavor undertaken to create a unique product, service, or result. Unlike programs, which are ongoing and repetitive, projects have a defined start and end date. They are distinct from processes, which are ongoing and repetitive activities aimed at achieving a specific outcome. Similarly, portfolios refer to a collection of projects or programs managed as a group. Therefore, the correct answer is project.Rate this question:
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- 23.
Which of the following is not an attribute of a project?
- A.
Projects are unique
- B.
Projects are developed using progressive elaboration
- C.
Projects have a primary customer or sponsor
- D.
Projects involve little uncertainty
Correct Answer
D. Projects involve little uncertaintyExplanation
The given answer states that "projects involve little uncertainty" is not an attribute of a project. This means that projects do involve uncertainty. Uncertainty is a common characteristic of projects as they are temporary endeavors with unique goals and outcomes. Projects often involve unknown factors, risks, and variables that can impact the project's success. Therefore, the statement that projects involve little uncertainty is incorrect.Rate this question:
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- 24.
Which of the following is not a part of the triple constraint of project management?
- A.
Meeting scope goals
- B.
Meeting time goals
- C.
Meeting communications goals
- D.
Meeting cost goals
Correct Answer
C. Meeting communications goalsExplanation
The triple constraint of project management refers to the three key factors that must be balanced in order to successfully complete a project: scope, time, and cost. Meeting communications goals is not typically considered as part of the triple constraint. While effective communication is important for project success, it is not one of the specific factors that are typically included in the triple constraint framework.Rate this question:
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- 25.
_________ is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements.
- A.
Project management
- B.
Program management
- C.
Project portfolio management
- D.
Requirements management
Correct Answer
A. Project managementExplanation
Project management is the correct answer because it involves the application of knowledge, skills, tools, and techniques to project activities in order to meet project requirements. It encompasses the planning, organizing, and controlling of resources to achieve specific goals and objectives within a defined timeframe. Project management ensures that projects are completed efficiently and effectively, meeting the needs and expectations of stakeholders.Rate this question:
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- 26.
Project portfolio management addresses _______ goals of an organization, while project management addresses _______ goals.
- A.
Strategic, tactical
- B.
Tactical, strategic
- C.
Internal, external
- D.
External, internal
Correct Answer
A. Strategic, tacticalExplanation
Project portfolio management focuses on the strategic goals of an organization, which involve long-term planning and decision-making to align projects with the overall business objectives. On the other hand, project management deals with the tactical goals of executing individual projects efficiently and effectively to achieve specific deliverables within a given timeframe. While project portfolio management considers the bigger picture and prioritizes projects based on their strategic importance, project management focuses on the day-to-day activities and tasks required to successfully complete a project.Rate this question:
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- 27.
Several application development projects done for the same functional group might best be managed as part of a ________.
- A.
Portfolio
- B.
Program
- C.
Investment
- D.
Collaborative
Correct Answer
B. ProgramExplanation
Managing several application development projects for the same functional group as part of a program allows for better coordination, alignment, and governance of these projects. A program provides a framework for managing multiple related projects, ensuring that they are all working towards a common goal and delivering value to the organization. It allows for centralized oversight, resource allocation, and decision-making, ultimately increasing efficiency and effectiveness in delivering the desired outcomes.Rate this question:
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- 28.
Which of the following is not one of the top ten skills or competencies of an effective project manager?
- A.
People skills
- B.
Leadership
- C.
Integrity
- D.
Technical skills
Correct Answer
D. Technical skillsExplanation
An effective project manager requires a combination of various skills and competencies to successfully manage projects. People skills are essential for effective communication and collaboration with team members and stakeholders. Leadership is crucial for guiding and motivating the team towards project goals. Integrity ensures ethical behavior and trustworthiness in managing projects. However, technical skills, although important, are not listed as one of the top ten skills or competencies for an effective project manager. This suggests that while technical expertise is valuable, it is not the sole determinant of project management success.Rate this question:
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- 29.
What is the certification program called that the Project Management Institute provides?
- A.
Certified Project Manager (CPM)
- B.
Project Management Professional (PMP)
- C.
Project Management Expert (PME)
- D.
Project Management Mentor (PMM)
Correct Answer
B. Project Management Professional (PMP)Explanation
The certification program provided by the Project Management Institute is called Project Management Professional (PMP).Rate this question:
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- 30.
_______ _______ describes this holistic view of carrying out projects within the context of the organization.
Correct Answer
systems thinkingExplanation
Systems thinking is the correct answer because it refers to the approach of understanding and analyzing how various components within a system interact and influence each other. In the context of carrying out projects within an organization, systems thinking involves considering the interconnectedness and interdependencies of different project elements, as well as the broader organizational context. It emphasizes the recognition that changes in one part of the system can have ripple effects on other parts, and encourages a holistic perspective to effectively manage and execute projects within the organization.Rate this question:
- 31.
_________ _________ addresses the business, technological, and organizational issues associated with creating, maintaining, and making changes to a system.
Correct Answer
Systems managementExplanation
Systems management is the practice of addressing the business, technological, and organizational issues related to the creation, maintenance, and modification of a system. It involves overseeing various aspects such as hardware, software, networks, and personnel to ensure that the system functions effectively and efficiently. This includes tasks such as monitoring performance, troubleshooting problems, implementing updates or upgrades, and ensuring security. By focusing on the holistic management of a system, systems management helps organizations optimize their resources and achieve their desired outcomes.Rate this question:
- 32.
___________ in organizations take the form of competition among groups or individuals for power and leadership.
Correct Answer
PoliticsExplanation
Politics in organizations refers to the dynamics and activities that involve competition for power and leadership. It encompasses the strategies, tactics, and behaviors employed by individuals or groups to gain influence, control resources, and achieve their goals within the organizational context. This can include forming alliances, engaging in power struggles, lobbying for support, and using persuasion or manipulation to advance one's own interests or agenda. The presence of politics in organizations can impact decision-making processes, relationships, and overall organizational culture.Rate this question:
- 33.
A _________ organizational structure is a hierarchy most people think of when picturing an organizational chart.
Correct Answer
functionalExplanation
A functional organizational structure is a hierarchy most people think of when picturing an organizational chart. In this type of structure, employees are grouped based on their specific functions or areas of expertise, such as marketing, finance, or operations. Each department has its own manager, and employees report to their respective department heads. This structure allows for clear lines of authority and specialization, as well as efficient communication and coordination within each department.Rate this question:
- 34.
A __________ organizational structure also has a hierarchical structure, but instead of functional managers or vice presidents reporting to the CEO, program managers report to the CEO.
Correct Answer
projectExplanation
In a project organizational structure, program managers directly report to the CEO instead of functional managers or vice presidents. This means that the organization is structured around projects, with program managers being responsible for overseeing the successful completion of specific projects. This structure allows for a more focused and efficient approach to project management, as program managers can directly communicate and align with the CEO's strategic goals and objectives.Rate this question:
- 35.
A ______ organizational structure represents the middle ground between functional and project structures.
Correct Answer
matrixExplanation
A matrix organizational structure represents the middle ground between functional and project structures. In this type of structure, employees are grouped by both function and project, allowing them to report to multiple managers. This allows for a balance between specialization and flexibility, as employees can focus on their functional expertise while also working on specific projects. The matrix structure promotes collaboration, communication, and resource sharing across departments, making it an effective choice for organizations that need to balance multiple priorities and projects.Rate this question:
- 36.
_________ culture is a set of shared assumptions, values, and behaviors that characterize the functioning of an organization.
Correct Answer
OrganizationalExplanation
Organizational culture refers to the collective beliefs, values, and behaviors that shape the way an organization operates. It encompasses the shared assumptions and norms that guide employee behavior and decision-making within the organization. This culture influences how employees interact with each other, how they approach their work, and how they align themselves with the organization's goals and objectives. By understanding and managing organizational culture, leaders can create a positive and productive work environment that supports the organization's overall success.Rate this question:
- 37.
Some projects have a senior manager called a _______ who acts as a key proponent for a project.
Correct Answer
championExplanation
A champion is a senior manager who plays a crucial role in supporting and advocating for a project. They act as a key proponent, promoting the project's goals, securing necessary resources, and overcoming obstacles. The champion's influence and leadership help ensure the project's success by rallying support from stakeholders, addressing any resistance, and driving the project forward.Rate this question:
- 38.
IT _________ addresses the authority and control for key IT activities in organizations, including IT infrastructure, IT use, and project management.
Correct Answer
governanceExplanation
Governance refers to the system and processes that define the authority and control for key IT activities within organizations. It encompasses the management and decision-making processes related to IT infrastructure, IT use, and project management. Governance ensures that IT activities align with organizational goals, policies, and regulatory requirements, and helps establish accountability and transparency in IT operations. It involves establishing policies, procedures, and guidelines, as well as monitoring and evaluating IT performance to ensure effective and efficient use of IT resources.Rate this question:
- 39.
A _______ is a product or service, such as a technical report, a training session, a piece of hardware, or a segment of software code, produced or provided as part of a project.
Correct Answer
deliverableExplanation
A deliverable refers to a product or service that is created or provided as part of a project. It can take various forms such as a technical report, a training session, a piece of hardware, or a segment of software code. Deliverables are tangible outcomes that are expected to be produced or provided within the project timeline. They serve as measurable milestones and are essential for project management and tracking progress.Rate this question:
- 40.
The term _______ _______ ________ has become popular to describe new approaches that focus on colse collaboration between programming teams and business experts.
Correct Answer
agile software developmentExplanation
Agile software development has become popular to describe new approaches that focus on close collaboration between programming teams and business experts. This methodology emphasizes iterative development, continuous feedback, and adaptability to changing requirements. It promotes cross-functional teams working together in short cycles, delivering working software in small increments. Agile methods prioritize customer satisfaction, early and frequent delivery of valuable software, and the ability to respond to changes quickly. This approach enables better communication, transparency, and flexibility, resulting in faster development, higher quality products, and improved customer satisfaction.Rate this question:
- 41.
Which of the following is not part of the three-sphere model for systems management?
- A.
Business
- B.
Information
- C.
Technology
- D.
Organization
Correct Answer
B. InformationExplanation
The three-sphere model for systems management consists of three interconnected spheres: business, technology, and organization. These spheres represent the different aspects that need to be considered and managed in order to effectively manage systems within an organization. The information is an integral part of all three spheres, as it flows between them and is crucial for decision-making and coordination. Therefore, it is incorrect to say that information is not part of the three-sphere model for systems management.Rate this question:
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- 42.
Which of the four frames of organizations addresses how meetings are run, employee dress codes, and expected work hours?
- A.
Structural
- B.
Human resources
- C.
Political
- D.
Symbolic
Correct Answer
D. SymbolicExplanation
The symbolic frame of organizations addresses how meetings are run, employee dress codes, and expected work hours. This frame focuses on the symbolic meaning and cultural aspects within an organization. It emphasizes the importance of shared values, rituals, and symbols that shape the organization's identity and influence the behavior of its members. In this context, meetings, dress codes, and work hours are seen as symbolic representations of the organization's values and culture.Rate this question:
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- 43.
Personnel in a _________ organizational structure often report to two or more bosses.
- A.
Functional
- B.
Project
- C.
Matrix
- D.
Hybrid
Correct Answer
C. MatrixExplanation
In a matrix organizational structure, personnel often report to two or more bosses. This is because the matrix structure combines functional and project structures, allowing employees to have multiple reporting lines. This enables them to work on both functional tasks and projects simultaneously, with different managers overseeing each aspect. The matrix structure promotes cross-functional collaboration and flexibility, as employees can draw on the expertise of multiple managers and teams.Rate this question:
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- 44.
Project work is most successful in an organizational culture where all of the following characteristics are high except ______.
- A.
Member identity
- B.
Group emphasis
- C.
Risk tolerance
- D.
Control
Correct Answer
D. ControlExplanation
Project work is most successful in an organizational culture where all of the following characteristics are high except control. This means that a high level of control may hinder the success of project work. In a project-based environment, it is important for team members to have a sense of autonomy and flexibility to make decisions and take ownership of their work. Too much control can stifle creativity and innovation, as well as limit the ability to adapt and respond to changing circumstances. Therefore, a culture that values member identity, group emphasis, and risk tolerance without excessive control is more conducive to successful project work.Rate this question:
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- 45.
A __________ is a product or service, such as a technical report, a training session, or hardware, produced or provided as part of a project.
- A.
Deliverable
- B.
Product
- C.
Work package
- D.
Tangible goal
Correct Answer
A. DeliverableExplanation
A deliverable is a product or service that is produced or provided as part of a project. It can be a technical report, a training session, or hardware. Deliverables are tangible outcomes that are expected to be completed and delivered to the stakeholders of the project. They are the measurable results that demonstrate the progress and success of the project.Rate this question:
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- 46.
Which of the following is not a phase of the traditional project life cycle?
- A.
Systems analysis
- B.
Concept
- C.
Development
- D.
Implementation
Correct Answer
A. Systems analysisExplanation
Systems analysis is not a phase of the traditional project life cycle. The traditional project life cycle consists of four phases: concept, development, implementation, and closeout. Systems analysis, on the other hand, is a separate process that occurs before the project life cycle begins. It involves studying the current system, identifying problems and opportunities, and proposing solutions. Once the systems analysis is complete, the project life cycle can begin with the concept phase.Rate this question:
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- 47.
What is the term used to describe a framework of the phases involved in developing information systems?
- A.
Systems development life cycle
- B.
Rapid application development
- C.
Predictive life cycle
- D.
Extreme programming
Correct Answer
A. Systems development life cycleExplanation
The term used to describe a framework of the phases involved in developing information systems is the systems development life cycle. This refers to the process of planning, designing, implementing, and maintaining information systems. It provides a structured approach to ensure that the development process is organized and efficient, leading to the successful creation of information systems. Rapid application development, predictive life cycle, and extreme programming are also related to software development methodologies, but they do not specifically encompass the entire development life cycle like the systems development life cycle does.Rate this question:
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- 48.
Another name for a phase exit is a ______ point.
- A.
Review
- B.
Stage
- C.
Meeting
- D.
Kill
Correct Answer
D. KillExplanation
A phase exit is commonly referred to as a "kill" point. This term is used to indicate the end or termination of a particular phase or stage in a process or project. It implies that the current phase is completed and there will be no further continuation or progression beyond this point. The use of the word "kill" signifies a decisive and final action, indicating that no further resources or efforts will be dedicated to the phase that has ended.Rate this question:
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- 49.
The nature of information technology projects is different from projects in many other industries because they are very ______.
- A.
Expensive
- B.
Technical
- C.
Diverse
- D.
Challenging
Correct Answer
C. DiverseExplanation
Information technology projects are different from projects in many other industries because they involve a wide range of technologies, systems, and applications. They can include software development, hardware implementation, network infrastructure, cybersecurity, and data management, among others. The diverse nature of these projects requires a multidisciplinary approach and a team with a variety of skills and expertise. Additionally, IT projects often involve working with different stakeholders, such as end-users, clients, and management, which adds another layer of complexity and diversity to the project.Rate this question:
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- 50.
What term is used to describe when an organization acquires goods and/or sources from an outside source in another country?
- A.
Globalization
- B.
Offshoring
- C.
Exporting
- D.
Global sourcing
Correct Answer
B. OffshoringExplanation
Offshoring refers to the practice of a company obtaining goods or services from an external source in a different country. This involves relocating certain business processes or operations to a foreign location, often to take advantage of lower costs or specialized expertise. It is different from exporting, which involves selling goods or services to foreign markets, and global sourcing, which refers to the procurement of goods or services from anywhere in the world. Offshoring is a key aspect of globalization, as it allows organizations to expand their operations internationally and tap into global resources.Rate this question:
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Sep 14, 2023Quiz Edited by
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Oct 24, 2011Quiz Created by
Herbfushu1979
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