ISPRMT - Final Quiz 1

What is the primary goal of a feasibility study in project management?

• To determine the project's financial benefits

• To assess the practicality of a proposed project

• To evaluate team performance

• To measure customer satisfaction

Which of the following best describes a risk assessment?

• Planning a project budget

• Identifying potential future problems

• Reviewing past project successes

• Developing a marketing strategy

What is the main purpose of creating a Work Breakdown Structure?

• To assign tasks to team member

• To divide a project into manageable sections

• To finalize the project scope

• To conduct performance reviews

What does optimism bias in project management typically lead to?

• Underestimating potential risks

• Overestimating the project budget

• Perfect risk assessments

• Increased team motivation

The illusion of control in project management refers to:

• Effective risk management

• Overconfidence in controlling events

• Accurate cost estimation

• Transparent communication

Which of the following is NOT a fundamental step in planning according to the list?

• Define the goal

• Evaluate options

• Implement the plan

• Choose and confirm the best option

What can project managers control?

• Risk

• Estimations

• Task assignments

• Future market conditions

What does good planning help to avoid?

• Costly mistakes

• Team meetings

• Performance evaluations

• Market analysis

The cost of change in a project includes:

• Only extra time

• Only extra budget

• Only wasted resources

• Extra time, budget, and wasted resources

When planning your project scope, what is the first step?

• Document the scope

• Analyze available information

• Assign tasks

• Review the budget