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project managers
3600+ PROJECT MANAGEMENT MCQ 3rd Edition Narayan Changder - Solutions
Sydney Crosby and his Penguins win the Stanley Cup. He renegotiates his contract. The Penguins give him a choice; take either a flat sum of $25 million dollars on Jan 1, 2012 or $10 million per year for the next 3 years, each amount payable at the end of each year, starting with 2011. Assuming a
Sam and Cam are two hostile brothers. Their father, Bam, decided to use real estate in an attempt to get them back together. He gave them a house in Toronto 30 years ago. The initial price was$100,000. Cam, being a useless piece of driftwood, ignored the house altogether. Sam rented the house out
PW = 5000(P/F, 15%, 5)(P/A, 10%, 4) is the solution to what problem?
What does an IRR of 18% mean?
How would you as a PM with a 5-year project, estimate the Overnight Lending Rate for the next five years and why would you care?
Your Pointy Hair Boss (PHB) refuses to accept your Charter yet will not let you resign from the project. What is your next step?
How would you estimate the benefits to Oshawa drivers of the improvement to the Stevenson Overpass project?
Project A costs $200K. In year 1, it will earn $100K, $400K in year 2, $100K in year 3, and then never earn a cent. Project B costs$400K. It earns $100K in year 1, $200K, $300K, $200K, and finally$100K in subsequent years before becoming worthless after year 5.Which project would you recommend and
A project has the following costs and benefits. What is the payback period?
Ellie and Elliott Engineer each deposit $1,000 every year into their retirement savings account, each bearing 10% interest.Draw the Cash Flow diagram.How much will Elliott have in 30 years?If Ellie wants to have $1,000,000 then, what would her interest rate have to be?
Using the 10% table provided in Appendix C, what is $10,000 worth 5.2 years from now, at an assumed interest rate of 10%? Show your work.
You have just been made Dalton McGuinty's Economan (an expremier of the Province of Ontario). Your first task is to justify the financial cost of Ontario's Family Day. Without factoring in the soft costs (such as: improved productivity because of happier Ontarioans), how would you get an
You have just won the “Million Dollars for Life” lottery which pays you $1,000,000 annually for 25 years. But the Ontario Lottery and Gaming (OLG) wants to offer you a lump sum of $20M. Assuming a MARR of 10%, Deal or No Deal? Show all work.
If the MARR were zero, we might conclude:(a) Nothing(b) The time-value of money is meaningless(c) We are doing the project for non-economic reasons(d) We are doing the project for economic reasons
A product is estimated to generate $1 million next year and $2 million the year after. What is the net present value of the total amount to be generated by the product over the next two years, assuming 10% interest rate?(a) $1 million(b) $2.56 million(c) $2.81 million(d) $3 million
A company wants to replace a machine in 15 years that will cost$10,000. It does this by setting up a sinking fund of $300 per year. What is the closest interest rate that will make this happen?(a) 10%(b) 10.5%(c) 11.2%(d) 11.6%
A project's payback period ends when:(a) Maximum profit is realized(b) Unit profit is realized(c) Monthly revenue exceeds monthly cost(d) Cumulative revenue equals cumulative cost
In 1626, the Dutch bought Manhattan Island for $24. Assuming an average inflation rate of 10% what would it be worth today(ballpark)?(a) A whole lot(b) A billion dollars(c) A trillion dollars(d) A quintillion (1015) dollars
My tuition at university was $300 in 1961. Your university tuition is $7,000 this year. In real terms who paid more, you or me?(a) We paid about the same(b) I paid more(c) You paid more(d) You paid a LOT more
If you wanted a 3-year annual $1,000 annuity flow that begins 6 years from now, then you would use which functions to calculate the amount you would have to spend today to get that flow?Assume 5%.(a) 3(1000(P/F, 5, 6))(b) 1000(P/F, 5, 6) + 1000(P/F, 5, 7) + 1000(P/F, 5, 8)(c) 3(1000(F/P, 5, 6))(d)
The department wants to replace its PACE computers in 4 years.The cost then is estimated to be $100,000. Which expression states the amount for this that must be set aside in this year's budget, assuming a 3% economy?(a) 100,000(P/F, 3, 4)(b) 100,000(F/P, 3, 4)(c) 100,000(F/P, 4, 3)(d) 100,000(P/F,
If you had a 20-year annual annuity flow that begins 6 years from now, then you would use which functions to compute its total PV?(a) (P/A, i%, 26)(b) (P/F, i%, 6)(P/A, i%, 20)(c) ((P/A, i%, 20) P/F, i%, 6)(d) (P/A, i%, 20)
In our cash flow problems, which of the following is NOT an assumption?(a) Interest rates are constant(b) Positive cash flows are made at the end of time periods(c) Negative cash flows happen at the beginning of time periods(d) Positive and negative cash flows can happen at any point
Public Sector projects do not have “profit”. Instead they replace increasing profit with:(a) Maintaining high quality(b) Minimizing costs(c) Sole-sourcing the costs(d) Paying taxes
Closest future worth in year 10 of $10,000 at an interest rate of 10% is:(a) 10000(1 + .1)10(b) 10000(F/P, 10%, 10)(c) 10000(P/F, 10%, 10)(d) (F/P, 10%, 10)
Sensitivity analysis describes:(a) Organizations’ ability to raise liquid cash(b) The credit rating of an organization(c) The risk aversion of the customer(d) The identification of the input variables that will most affect the outcome of the project
This is NOT a factor in setting the MARR:(a) Overnight Lending Rate(b) Risk of the project(c) Capability of the company to do the work(d) Capitalization of the company
An IRR of 0% means that(a) This project must be selected(b) The expected benefits of the project do not equal the cost of the project(c) The MARR is also 0(d) If this project were selected, it would not be on economic grounds
You are the Project Manager on a small project that is estimated to take 6 months. Your organization has no formal ICCP in place. You must design your own. With the help of 3x5 inch index cards, what would you do?
For graduate students, write a Charter for your Masters or PhD thesis.
For undergraduate students, write a Charter for your 4th year design thesis/project.
Set a SMART goal for yourself.
From the Project Manager's point-of-view, what are the 3 most important things that must be in the Charter and why?
Configuration Management is a technique to:(a) Perform overall change control(b) Execute project plan(c) Collect requirements(d) Perform quantitative risk analysis
Projects can often be optimized for Shortest Schedule, Least Cost, and Best Quality:(a) Simultaneously, all three can be achieved by careful scheduling and budget control(b) So that any two of the above can be achieved at a given time, but not all three(c) We are not as concerned with optimization,
What does the I stand for in IV & V?(a) Independent(b) Individual(c) Integrated(d) Indivisible
“ Gating” means:(a) You are on the way to becoming as rich as Bill Gates(b) Keeping costs under control as in controlling cows leaving a field(c) Team members are rotating through the team at a great rate(d) Justifying funding to proceed to the next stage of the project
When a project falls seriously behind schedule, the most appropriate response is to:(a) Fire the project manager(b) Make the team work overtime(c) Add more people to the project(d) Revisit the project plan
The Prime Directive of the Project Manager is to:(a) Bring the project in, on time, on budget, on scope(b) Help team members become better at project management(c) Advance the careers of team members(d) Keep the stakeholders satisfied
Sign-off is important because:(a) The party to sign-off wants the glory(b) The PM gets another part of the project off her back(c) The ISO guidelines say so(d) Because it proves that part has been successfully done
Which document provides the information of whom has approval authority for revisions in scope of a project?(a) Resource assignment matrix(b) Change control plan(c) Project charter(d) Organization chart
Configuration Management is:(a) Used to ensure that the description of the project product is correct and complete(b) The creation of the work breakdown structure(c) The set of procedures developed to assure that project design criteria are met(d) A mechanism to track budget and schedule variances
Which of the following is NOT a part of the Charter?(a) Requirements(b) Formal recognition of the existence of the project(c) Definition of project scope and objectives(d) Definition of authority of PM
Which of the following curves can be used to estimate the cumulative development effort over time?(a) Rayleigh curve(b) S-curve(c) Weibull distribution(d) Exponential curve
Which of the following organization structures cannot be used to create a Composite Organization?(a) Functional Organization(b) Balanced Matrix Organization(c) Strong Matrix Organization(d) Projectized Organization
Which of the following organization structures have project managers reporting to a manager of project managers?(a) Functional Organization(b) Balanced Matrix Organization(c) Strong Matrix Organization(d) Traditional Organization
What type of project organization does the project manager have total authority?(a) Functional(b) Strong matrix(c) Balanced matrix(d) Projectized
Complex projects, involving cross-disciplinary efforts, are most effectively managed by:(a) Multiple project managers(b) A functional organization(c) A strong matrix organization(d) A strong traditional manager
Project sponsors have the greatest influence on the project during:(a) Planning(b) Execution(c) Control(d) Termination
Which of the following is NOT a triple constraint for projects?(a) Time(b) Cost(c) Risk(d) Scope
Which of the following refers to management of similar but unrelated projects?(a) Project management(b) Program management(c) Portfolio management(d) Operations management
Which of the following is not a valid description a project?(a) A temporary endeavor undertaken to create a product(b) Has a defined start and end point, and specific objectives that, when attained, signify completion(c) A temporary endeavor undertaken to create a service(d) Comprises of several
Cost of change is the highest on the project during:(a) Planning(b) Execution(c) Control(d) Termination
Yang BUKAN merupakan kriteria dari pengertian PROJECT adalah?A. Collaborative B. Aim / Purpose C. * No Limitations D. Assigned Team
correct decision rule of NPV on selecting a project(s) is/are;A. * If the NPV is higher, it is better B. * If the NPV is grater than 0, it is a profitable project C. If the NPV is less than 0, it is a profitable project D. If the NPV is lower, it is better
What is a PM?A. Prime Minister B. * Project Manager C. Piggy March D. None of these.
Your well planned project is likely to encounter a number of change requests and approved changes during its life cycle. In the change management plan, you have outlined the process that you and others will use to understand the impact of changes. Getting stakeholder acceptance of the decisions
You are managing a team of 120 internal members and four contractors. Given the size of this team, you want to document each team member’s assignments. You can use a-A. Resource breakdown structure B. RACI chart C. Team calendar D. * Team directory
____ tells you what can go wrong in a project and tells you what to do if those things happen.A. * Risks B. Cost C. Communication D. Time E. Human Resources
Arrange the correct order of project management life cyclea) Project Initiationb) Project Closurec) Project Executiond) Project Planning A. a - c - d - b B. * a - d - c - b C. b - d - c -a D. c - a - b -d
Which of the following have a start and end and are temporary?A. * Projects B. Operations
A product should never be launched if there are deficiencies and potential problems.A. True B. * False
What is program management?A. The process of determining a customer’s needs by acquiring information, processing and evaluating the information, then creating a plan of action to address the needs B. * The process of managing multiple interdependent projects to improve the performance of an
A. A B. * B C. C D. D
Sebutkan ciri ciri project A. Rutin B. SDM Berlimpah C. * Ruang lingkup terbatas D. Menghasilkan revenue
Which statement BEST describes a responsibility of the project manager:A. to be the sole source of expertise for estimating techniques on cost and time B. to take ultimate accountability for the delivery of the business benefits C. * to deliver the project objectives to enable benefits to be
This is an example of a A. mind map B. * PERT chart C. flow chart D. Gantt chart
Visitors to a website are complaining about a dead link that leads to an essential page in the website. At what stage in the IT Project Life Cycle did the mistake happen?A. Planning and Design B. Testing C. Deployment D. * Development
Sumber daya manusia yang dapat digunakan untuk implementasi project I4.0, kecuali?A. Institusi pendidikan, program magang B. Komunitas teknologi C. Champion Internal D. * Belanja modal
How is a well-defined objective characterized?A. * Parallel to the mission, goals and strategy of the organization B. Similar to the mission, goals and strategy of the organization C. In contrast to the mission, goals and strategy of the organization D. No relation to all
What is animation?A. * A rapid display of a sequence of images to create an illusion of movement controlled by keyframes B. a section of a graphical user interface intended to aid visitors in accessing information C. Users given control to move through interactive multimedia
You have recently joined an organisation that is just beginning to follow formal project management practices. In a meeting, your manager describes your next assignment, a project to select and implement 5G roll out in Zimbabwe. When you request a signed charter authorising you to begin work, the
The project requires frequent input from the senior management team. Some of the past projects succeeded to engage the team, however, most failed as senior management is notorious throughout the organisation of responding slowly and not attending meetings. What is the best strategy for the
You are a project manager for residential construction. As a project manager, you must be especially concerned with building codes-particularly in the Plan Quality Management process. You must ensure that building codes are reflected in your project plans because:A. * Standards and regulations are
What part of SMART is missing from this goal? I will improve my grade in science by the end of the semester.A. Not time-bound B. Not attainable C. Not specific enough D. * Not measurable
WBS Stands for A. * Work Breakdown Structure B. Work Break Structure C. Work Breaking System D. Work Breaking Structure
A project has faced major difficulties in the quality of its deliverables. Management now states that quality is the most important project constraint. If another problem with quality were to occur, what would be the best thing for the project manager to do?A. Fix the problem as soon as possible B.
Bagaimana kita harus memperlakukan stake holder yang memiliki kekuasaan yang sangat tinggi tapi memiliki perhatian yang cukup rendah pada kesuksesan dari suatu project A. Tetap memonitor semua keputusan yang dia ambil B. * Keep Sastified C. Keep Informed D. Partisipatif
All of the following are tools and techniques in the Control Procurements process except:A. * Work performance information B. Data analysis C. Claims administration D. Inspection
As we work on the actual event we decide on a variety of things such as location, costs, supplies, food requirements, entertainment and staff. We plan to have this event at the community center. We will need tables for vendors to set up crafts and make sure all vendors are licensed to sell
How much total float does activity E have?A. 0 days B. 2 days C. * 6 days D. 4 days
What does RACI stand for?A. Really, Accurate, Completion, Insisted B. * Responsible, Accountable, Consulted, Informed C. Readily, Available, Curious, Intelligent D. Random, Argumentative, Chaotic, Inaccurate
The success of the project measured against success criteria and user requirements which were created in the ____ A. planning phase B. * initiation phase C. execution phase
If BAC = Rs.20,000/- and the project is 40% complete, then the earned value is A. * Rs. 8,000/-B. Rs. 5,000/-C. Rs. 20,000/-D. Cannot be determined
”Critical Path” adalah Lintasan waktu yang menentukan berakhirnya suatu Project A. Tersingkat B. Termahal C. * Terlama D. Termurah
The degree, amount, or volume of risk that an organization or individual will withstand is called A. Risk threshold B. * Risk tolerance C. Risk appetite D. Risk band
While reviewing the progress, the project manager assesses that an activity has been missed out from the implementation plan. A milestone, scheduled to be achieved within another week, would be missed with the current implementation plan. Which of the following is the next best action for the
This image represent A. * A Gantt Chart B. A PERT Chart C. A Flow Chart
All of the following are Knowledge Management tools and techniques EXCEPT:A. Discussion forums.B. Storytelling.C. Work shadowing and reverse shadowing.D. * Regression analysis.
Milestone A. A sequence of tasks that must be accomplished within a certain time frame to achieve a desired result.B. A factor that is considered to be real or certain for planning purposes.C. A factor, such as budget or time, that limits a project manager’s options.D. * The end of a stage that
Where does agile work best?A. * Complex problems where iteration and reworking is possible.B. Routine activities such as accounting, maintenance, purchasing and plant construction.
Quality is very important to your company. Each project has a quality statement that is consistent with the organization’s vision and mission. In both internal and external Manage Quality, the broader definition of quality assurance, is provided on projects to:A. * Ensure confidence that the
Estimate for the cost, time and risks of a project looking at the entire project.A. Contingency B. * Top-down estimate C. To sign off D. Change order
When you are exploring and/or identifying things that could potentially go wrong in a project you are assessing the ____ A. liabilities B. problems C. * risks
The setting of work standards and schedules:A. strategic planning B. tactical planning C. contingency planning D. * operational planning
The process each manager follows during the life of a project is known as____ A. Project Management B. Manager life cycle C. * Project Management Life Cycle D. All of the mentioned
Successful projects require A. lots and lots of money B. * time, effort, skill and careful management C. time D. project champions
A project manager overhears a conversation between two stakeholders who are discussing how unhappy they are with the impacts of the project on their own departments. Stakeholder A asks if the project is on time, and stakeholder B replies that the SPI is 1.05. Stakeholder A asks if the project
Assume you are managing a project and have decided to outsource about 40% of the work. You expect to award three contracts for certain work packages in the WBS. The benefit of this Conduct Procurements process is that it-A. Determines the type of contract to award B. * Selects a qualified seller
The need for a methodology that will allow project teams to demonstrate the effects a project intends to make on users brought about the birth of this model.A. Waterfall Model B. Spiral Model C. * Rapid Application Development Model D. Agile
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