Chapter 1 : PM

What is the underlying philosophy of project management?

• Maximizing time efficiency

• Achieving maximum profit

• Meeting stakeholder needs and expectations

• Minimizing resources

How is a project defined?

• A routine operation

• A continuous process

• A temporary endeavor to create a unique product or service

• A long-term business strategy

What are the key constraints within which a project must be managed?

• Quality, cost, and time

• Scope, quality, and resources

• Time, cost, and resources

• Scope, time, and budget

What is the role of a project manager?

• To solely focus on time management

• To coordinate and track project tasks

• To ensure quality conformance

• To handle only the financial aspects of the project

What is the purpose of the Project Management Institute (PMI)?

• To promote project failure

• To set industry standards and provide education

• To discourage project management excellence

• To limit the growth of project management

What are the benefits of project management?

• Decreased career opportunities

• Reduced demand for goods and services

• Increased competition

• Satisfied customers and improved knowledge and skills

Why do we need project management?

• To meet the global demand for goods and services

• To reduce global competition

• To limit the use of teams

• To decrease human knowledge

What are the dimensions proposed by Shenhar for project classification?

• Risk and change management

• Time and cost

• Scope and quality

• Technology and sociocultural aspects

What are the factors affecting project success?

• Coordination and relations

• Initial under-optimism

• Lack of senior management support

• Inadequate funding

What is the purpose of the Project Priority Matrix?

• To enhance project constraints

• To constrain project parameters

• To accept project limitations

• To prioritize project objectives