CONFIDENCE QUIZZES 1-2-3

Confidence Quiz 1 - Which of the following is a difference between projects and operations? Operations are undertaken to create unique products, services, or results whereas projects are not. Operations have well-defined objectives whereas projects do not need to have a unique purpose. Projects are undertaken to sustain an organization’s business whereas operations are not. Projects are temporary endeavours, whereas an organization’s operations are ongoing in nature. Project team Alpha has collected all the requirements hefore doing their product design. Most likely, this project has adopted: ® A waterfall project management methodology An agile project management methodology . An iterative project management methodology A design-thinking project management ~ methodology involves determining long-term objectives by analyzing the strengths and weaknesses of In organization, studying opportunities and threats in the business environments, predicting future trends, and projecting the need for new products and services. O Tactical planning ©Mind mapping ® Strategic planning SWOT analysis Modules 1, 2 & 3 Project management involves making wise investment decisions whereas portfolio management does not. Portfolio management is an easy task whereas project management is a more difficult task. Portfolio management asks questions like “Are we carrying out projects efficiently?” whereas project management asks questions such as “Are we investing in the right areas?” Project management addresses specific, short-term goals whereas portfolio management focuses on long-term goals. The financial analysis section of a business case often includes a return on investment (ROI). In the ollowing scenario, a project has an initial investment »f $10,000 in year 0 and a NPV of $5,000. What is the You have just joined a project team and you want to know the team values and guidelines. Which project document should you review? O Resource management plan ® Team charter Project plan Project charter A project team collected a few requirements and then completed a deliverable building and working towards the final project product. Most likely, this project has ROI? adopted: 0200% O A critical path project management methodology P A phased-based project management methodology $5.000 A waterfall project management methodology : ® An adaptive project management methodology ©50% A project manager needs to have many skills to be successful. What are the three skills that are identified in the PMI Talent Triangle? Technical, Business, Application ® Technical, Leadership, Strategic . i ®uncertainty Business, Project, Leadership B _ _ ) competition Business, Project, Leadership O people Even though a company might work on similar projects over and over again, such as building houses, providing training courses, or developing specific types of products, there are unique challenges because all projects involve O progressive elaboration

You are reviewing 4 projects. You need to select one project-based solely on the payback period. All the projects have the same initial cost of $20,000. Which project would you select? Year 2 $0 $5,000 $5,000 $10,000 $10,000 Year 3 Year 4 $10,000 $15,000 $5,000 $5,000 $10,000 $0 $12,500 $15,000 Project o|o|wm|= 2| S = =4 S ®Project C Project D Project B O Project A Several individual housing projects that are done in the same area by the same firm might hest be managed as part of a portfolio collaborative investment ® program A product life cycle has a definitive end is shorter than a project lifecycle @ can have single or multiple projects can only have one project Which of the following questions should the Project Charter answer? What are the risk strategies to respond to the project threats? Who are the sellers who will be required to work on the project? What are the specific resources required to complete the project? What is the business need the project is undertaken to address? The project approach where the work to be accomplished is planned in detail, and changes are monitored closely is: ® Incremental Predictive Iterative Hybrid Several individual housing projects that are done in the same area hy the same firm might best be managed as part of a Oinvestment © program O portfolio collaborative The document that breaks down the product vision into a high-level direction for the development of the product is called: OProject charter OProduct brief OProduct strategy ©Product roadmap You have just taken over as the project manager for an existing waterfall project. Where would you look for the project objectives? ®Project charter O Project management plan O Project plan Business case Which of the following questions should the Project Charter answer? What are the risk strategies to respond to the project threats? What are the specific resources required to complete the project? Who are the sellers who will be required to work on the project? o What is the business need the project is undertaken to address?