Project Management Questions

What is meant by project structure?

• The organization of files and directories in a project

• The timeline for project completion

• The budget allocated for a project

• The team members involved in a project

What is the main role and responsibility the project board takes in project management?

• Setting project objectives

• Managing project risks

• Providing overall direction and decision-making

• Executing project tasks

What is meant by ‘return on investment’ (ROI) when nearing project impacts?

• A measure of the profitability of an investment relative to its cost

• A method to calculate the total expenses of a project

• A strategy to increase the market share of a company

• A technique to assess the environmental impact of a project

How can a GANTT chart inform a project manager about the completion status of a project?

• By showing the start and end dates of tasks

• By displaying the percentage of completed tasks

• By listing the resources allocated to each task

• By providing a detailed budget analysis

What is the main purpose of a critical path analysis (CPA) network diagram?

• To identify the longest path of planned activities to the end of the project

• To allocate resources efficiently

• To determine the shortest path for project completion

• To assess the financial cost of a project

Describe the main difference between PERT and CPA.

• PERT focuses on time estimation, while CPA focuses on cost estimation.

• PERT is used for project management, while CPA is used for financial analysis.

• PERT is a probabilistic model, while CPA is a deterministic model.

• PERT is used for small projects, while CPA is used for large projects.

What is the main purpose of a critical path analysis (CPA) network diagram?

• To identify the longest path of planned activities to the end of the project

• To allocate resources efficiently

• To estimate the total cost of the project

• To determine the shortest path for project completion

Describe the meaning of this symbol in a flowchart.

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What is the main purpose of using flowcharts when managing projects?

• To create a visual representation of the project workflow

• To allocate resources efficiently

• To manage project budgets

• To communicate with stakeholders

If a business receives 140 complaints in one year, how many customers are likely to be responsible for 80% of these complaints based on the Pareto principle?