SY53102FP PM Chapter 2

What is the first phase in the project life cycle?

• Planning Phase

• Execution Phase

• Initiation Phase

• Closure Phase

What are the three main purpose of the Project Initiation Phase?

• Define the project, identify stakeholders, set project rules.

• Plan the budget, hire staff, start execution

• Analyze risk, create schedule, allocate resources

• Close the project, evaluate outcomes, document lesson learned

Which of the following is NOT a category of people involved in a project?

• Customers/users

• Principal/Spnsor

• Project Manager

• Shareholders

Who is responsible for the project from the initial phase till closure?

• Principal

• Project Manager

• Customer

• Project member

What does WBS stand for in project management?

• Work Breakdown Structure

• Weekly Budget Summary

• Work Balance Sheet

• Workplace Business Strategry

What does OBS stand for in project management?

• Organizational Business Strategy

• Operational Breakdown Structure

• Organization Breakdown Structure

• Operational Business Summary

Which of the following is NOT a common project selection method?

• Payback period

• Net Present Value (NPV)

• Internal Rate of Return (IRR)

• Return on Investment (ROI)

Who usually appoints the Project Manager?

• Customer

• Project team

• Principal/Sponsor

• Contractors

Why is it important to have a concise project definition?

• To impress stakeholders

• To make the project more complex

• To ensure everyone in the team understands the project

• To increase the project budget

What is the primary task of a project manager in identifying stakeholders?

• To assign blame for project failures

• To make important decisions during definition and planning stages

• To exclude certain people from the project

• To increase project costs