My Top 10 Project Management Concepts

The video outlines the top 10 project management concepts, organized roughly in the order of the project management life cycle. It covers project definition, the triple constraint, value, governance, stakeholders, planning, resources, project controls, risk management, and the monitor and control cycle. Each concept is explained in terms of its importance and application in managing projects effectively.

What is the foundation of project planning according to the video?

• Project closure

• Project monitoring

• Project definition

• Project execution

Which of the following is NOT part of the quadruple constraint?

• Quality

• Stakeholders

• Cost

• Time

How can you determine if a project is worthwhile?

• By ensuring quality is compromised

• By ensuring time is minimized

• By ensuring benefits outweigh costs

• By ensuring costs are higher than benefits

What is a key role of governance in project management?

• Setting direction

• Executing tasks

• Designing products

• Hiring team members

Who is considered a stakeholder in a project?

• Only the project sponsor

• Anyone affected by or affecting the project

• Only the project team

• Only the project manager

What does proper planning prevent?

• Resource allocation

• Stakeholder engagement

• Poor performance

• Project success

What is considered the master resource in project management?

• Time

• Quality

• Money

• Scope

Which of the following is an example of a project control?

• Risk management

• Stakeholder analysis

• Project definition

• Project execution

What characterizes a risk in project management?

• Uncertainty with potential impact

• Certainty and no impact

• No need for management

• Guaranteed success

What is the purpose of the monitor and control cycle?

• To manage uncertainties and ensure project success

• To execute tasks

• To close the project

• To plan resources