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Introduction, Selection, Initiating
Terms in this set (30)
25%
Approximately what percentage of the world's gross domestic product is spent on projects?
$8,000
Healthcare spending accounted for 17.9% of US GDP in 2010, an average of over _____ per person.
project
A _____ is a temporary endeavor undertaken to create a unique product, service, or result.
D
Which of the following is not an attribute of a project? A) projects are unique; B) projects are developed using progressive elaboration; C) projects have a primary customer or sponsor; D) projects involve no uncertainty
C
Which of the following is not part of the triple constraint of project management? A) scope; B) time; C) quality; D) cost
project management
_____ _____ is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements.
strategic, tactical
Project portfolio management addresses _____ goals of an organization, while project management addresses _____ goals.
D
What is the most significant characteristic or attribute of an effective project manager? A) is a strong communicator; B) is decisive; C) is visionary; D) leads by example
Project Management Professional (PMP)
What is the certification program called that the Project Management Institute provides?
C
Which of the following is not a potential advantage of using good project management? A) Shorter development times; B) Higher worker morale; C) Lower cost of capital; D) Higher profit margins
organization
The three spheres of systems management are business, technology, and _____.
tactics
Which of the following is not part of a SWOT analysis: strengths, weaknesses, opportunities, tactics
resource allocation
The last step in the four-stage planning process for projects is _____ _____.
business strategy
It is very important to start at the top of the four-stage planning process pyramid to select projects that support the organization's _____ _____.
C
Which of the following statements is false concerning the financial analysis of projects? A) The higher the net present value the better; B) A shorter payback period is better than a longer one; C) The required rate of return is the discount rate that results in an NPV of zero for the project; D) ROI is the result of subtracting the project costs from the benefits and then dividing by the costs
balanced scorecard
A _____ ______ is a methodology that converts an organization's value drivers -- such as customer service, innovation, operational efficiency, and financial performance -- into a series of defined metrics.
increasing revenues
Which of the following is not a major benefit of grouping projects into programs: increasing revenues; increasing authority; saving money; saving time
directive
The Hospital Readmission Reduction Program is an example of a(n) ______ from the Patient Protection and Affordable Care Act.
enterprise success
The goal of project portfolio management is to help maximize business value to ensure _____ _____.
C
Most organizations find duplicate or unneeded projects after they perform which step in project portfolio management? A) prioritizing the projects in their list; B) dividing the projects into several categories based on type of investment; C) putting all projects in one list; D) applying modern portfolio theory, including risk-return tools that map project risk
executing
In which of the five project management process groups is the most time and money usually spent?
planning
In which of the five project management process groups are activities performed that relate to each knowledge area?
executing
The best or "alpha" project managers spend more time on every process group than other project managers except for which one?
business case
What document provides justification for investing in a project?
project charter
What document formally recognizes the existence of a project and provides direction on the project's objectives and management?
sign-off
What is a crucial part of the project charter -- a section in which key project stakeholders acknowledge their agreement on the need for the project?
stakeholder analysis
Which project document should not be made available to all key project stakeholders due to its sensitive nature?
agenda
All project meetings with major stakeholders should include a(n):
project stakeholder management
Preparing stakeholder register and performing a stakeholder analysis are part of which knowledge area?
project charter, stakeholder register, kick-off meeting
What are the three main outputs of initiating?
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