Project Management

In the Basic Research phase, risk and degrees of freedom are both at their highest, while definition remains low.

• False

• True

In project portfolio management, how should organizations allocate resources among competing projects?

• a) Equally distribute resources among all projects

• b) Prioritize projects based on strategic alignment and expected Return on Investment (ROI)

• c) Focus solely on short-term financial gainsgains

• d) Assign resources based on the order in which projects were initiated

Which project evaluation method is most suitable for assessing high-risk, breakthrough innovations?

• a) Traditional financial methods (e.g., NPV, IRR)

• b) Qualitative evaluation methods, such as checklists.

• c) Waterfall project tracking

• d) Cost-benefit analysis alone

Oyshter projects will become Pearls in the long run

• False

• True

An organization with most of its projects classified as 'oysters' will have a successful project strategy.

• False

• True

A space exploration company is working on a next-generation rocket system that could drastically reduce the cost of space travel. Given the level of technological uncertainty and potential impact, this would be classified as a ‘White Elephant’ project.

• False

• True

Agile methods completely eliminate the need for documentation in project management.

• False

• True

Which of the following correctly describes the role of the Scrum Master?

• a) The individual responsible for finalizing all project tasks independently

• b) The main decision-maker in Scrum projects

• c) A senior executive who approves the project budget

• d) The facilitator who helps remove obstacles and ensures the Scrum team follows Agile principles

Which of the following Agile methodologies emphasizes a continuous process instead of fixed-length iterations?

• a) Scrum

• b) Waterfall

• c) Kanban

• d) None of the above

What is the primary characteristic of a Minimum Viable Product (MVP) in the Lean Startup methodology?

• a) A fully developed product before customer testing

• b) A prototype with only essential functions to collect customer feedback quickly

• c) A final version with all features and functionalities

• d) A project with zero risk of failure