PSY302 - Project Management Quiz 2024

The application of skills, methods, and various processes to reach a project's objectives is known as _____.

• Human Resource Management

• Project Management

• Time Management

If you could boil down the main goal(s) of project management, it would be to deliver the project _____.

• Within scope, budget, and timeline

• Without any possibility of risk

• With no financial stakes

When you are trying to meet the objectives of project management, you are ultimately trying to ensure that a project is successful. What is the BEST definition of a project? 

• The application of experience and management in order to make a company financially successful.

• A day-to-day operation (a routine operation).

• The ongoing management of a team or effort for an indefinite timespan. 

• A temporary venture taken to reach a set of unique and planned objectives that can be defined in terms of output or outcomes.

You are working on a project that is similar in scope to a project performed last year. You might consider which of the following?

• Using the previous project’s cost-benefit analysis as justification for this project

• Using the previous project’s WBS template

• Reusing the previous project’s description when writing the scope statement

This phenomenon can substantially influence the project cost for not much quality gain

• Human Resource Planning

• Gold Plating

• Scope Creep

• Activity Sequencing

What are the advantages of using the likelihood/severity risk matrix?

• It helps checking the project performance

• It focuses decision makers on the lowest priority risks

• It provides consistency in prioritising risks

• None of the above

What is the definition of a waterfall project style?

A project management approach.....

• That uses iterative cycles

• Focused on speed of delivery

• That uses sequential phases

• Focused on collaboration

What are the iterative cycles in Agile / Scrum called?

• Sprints

• Repeats

• Series

• Intervals

Waterfall is usually considered less useful for changing projects. However, it is considered adaptable to project team member changes. Why?

• High collaboration provides project information

• Customer feedback provides project information

• Extensive documentation between phases provides project information

• Product description provides project information

Which relationships do network diagrams use?

• Start-to-finish

• Start-to-start

• Finish-to-finish

• Finish-to-start

• All of the above