Project Management Multiple Choice Questions and Answers pdf for the preparation of academic and competitive exams of various Institutes.
Are you in search of a comprehensive resource that provides Project Management Multiple Choice Questions and Answers? Look no further! This article aims to assist individuals who are preparing for project management exams or simply seeking to enhance their knowledge in this field.
By offering a downloadable PDF file containing a wide range of multiple-choice questions, we aim to provide an effective study tool for project managers, students, and anyone interested in expanding their understanding of project management concepts.
Whether you are aiming to validate your expertise or learn more about the various aspects of project management, this resource is designed to help you succeed. Let’s delve into the world of project management and explore the benefits that these multiple-choice questions can offer!
Project Management Multiple Choice Questions and Answers
1. The ___, also referred to as the project graph, shows the activities and events of the project and their logical relationships.
Ans. Network diagram
2. ___ must be so defined that they are distinct, logically uniform tasks for which time and resource requirements can be estimated.
3. The ___ begins with the initial event, marking the beginning of the project, and proceeds forward till the end event is reached.
Ans. Forward method
4. The ___ begins with the end event and works backward till the beginning event is reached.
Ans. Backward method
5. The pessimistic time, to, is the time required if no hurdles or complications arise.
6. The optimistic time, tp, is the time required if unusual complications and, or unforeseen difficulties arise.
7. Time estimates should be obtained by the PERT planner from persons who are responsible for estimation.
8. The ___ of an event refers to the time when the event can be completed at the earliest.
9. The ___ for various events is obtained by working backward from the end event. This procedure is known as the backward pass.
10. The ___ for an event is the difference between its LOT and EOT.
11. Variability in PERT analysis is measured by variance or its square root and standard deviation.
12. Standard deviation is obtained by squaring variance.
13. CPM analysis is on variations in activity times as a result of changes in ___.
Ans. Resource assignments
14. ___ seeks to examine the consequences of crashing on total cost (direct cost plus indirect cost).
Ans. CPM analysis
15. To provide a vehicle for ___ and control of projects, the network cost system was developed.
Ans. Cost planning
16. PERT and CPM analysis largely overlooks the ___ which is usually as important as the time aspect and sometimes even more.
Ans. Cost aspect
26. The change process is a one-time process; it will never continue.
17. Project managers have to relax to maintain the momentum of project execution.
18. Project managers should explain to the team members the need for change.
19. The term ___ refers to fixing the available resources to the prioritized project activities.
Ans. Resource allocation
20. In ___ the resources are adjusted/compromised so that they are applied uniformly without any delays on the scheduled time.
Ans. Resource leveling
21. Scheduling means the process of deciding how to arrange resources between varieties of possible activities and tasks.
22. Backward scheduling can be defined as the planning of tasks from the date resources become available to determine the shipping date or the due date.
23. Forward scheduling is planning the tasks from the due date or required by date to determine the start date and/or any changes in the capacity required.
24. The ___ describes the business need, justification, requirements, and current boundaries for the project.
Ans. Project scope statement
25. ___ Estimating involves determining the availability and quantities required of staff, equipment, and material needed to perform scheduled activities.
Ans. Activity resource
26. ___ means using the actual cost of previous, similar projects as the basis for estimating the cost of the current project.
Ans. Analogous cost estimating
27. Payback period is defined as the length of time required to recover the original investment on the project through cash flows earned.
28. The internal rate of return is also called the accounting rate of return.
29. The average rate of return of a project is the discount rate that makes the net present value equal to zero.
30. Risk communication and risk ___ are essential factors for all human decision-making.
31. Project risk is a function of two components: likelihood and___.
32. Quality characteristics such as performance, functionality, suitability, reliability, and consistency are commonly used to measure the ___.
Ans. Project deliverables
33. The unsystematic risk affects the entire market.
34. Financial risk refers to the variability of the income to the equity capital due to the debt capital.
35. ___ is a discipline for dealing with the possibility that some future event will cause harm.
Ans. Risk management
36. ___ needs to be approved by the appropriate level of management.
Ans. Risk mitigation
37. The probability of project risk depends on the project life cycle.
38. The impact of risks is higher in the initial stages of a project life cycle.
39. The probability of risks is less in the initial phases in comparison to the closing phases.
40. Proper risk management can increase the productivity and efficiency of the project team.
41. The process of ___ includes not only an assessment as to the probability of occurrence but also the assessment of the impending severity of loss if the risk materializes.
Ans. Risk appraisal
42. After risk identification and assessment, one must apply various risk management techniques such as risk avoidance, risk reduction, ___ and risk transfer, etc.
43. Business risks are ongoing risks that are best handled by the business.
44. Generic risks are risks to all projects.
45. The checklist is developed based on ___.
Ans. Past experience
46. If the probability is high, and the impact is low, it is a ___ risk.
47. If the impact is high, and the probability low, it is ___ risk
48. Risk avoidance involves methods that reduce the severity of loss from occurring.
49. Risk retention is a viable strategy for small risks where the cost of insuring against the risk would be greater over time than the total losses sustained.
50. Quality begins with designing a product as per customer specifications ___.
51. A ___ consists of people, equipment, and procedure to collect, process, store, combine, and communicate the needed information to users (stakeholders) for carrying out project management functions.
52. A ___ consists of a set of sub-systems/components that work together to achieve a common goal.
53. The attributes associated with a product should be internal ___.
54. The quality associated with a product often decreases with the dependability of the product and customer experience.
55. Today, quality is considered an ‘order qualifying’ and not an ‘order winning’ attribute of the product or service.
56. ___ represents economic worth, practical utility and availability for both the customer and the company that creates the product or service.
57. Quality Control (QC) means all the planned and systematic activities implemented within the quality system to provide confidence that the project will satisfy the relevant quality standards.
58. Quality assurance is a system of routine technical activities, to measure and control the quality of the project as it is being developed.
59. ___ refers to the overall intentions and direction of an organization pertaining to quality, as formally expressed by top management.
Ans. Quality policy
60. Prior to the development of the ISO 9000 series, the activities described under quality planning were widely included as part of ___.
Ans. Quality assurance
61. ___ is the systematic application of recognized techniques.
Ans. Value engineering
62. ___ is the total sum of money spent for materials, labour, overheads, profit, etc to produce any product.
63. ___ is what the customer thinks the product is worth to meet his minimum specific requirements.
64. A product is considered to have value if it has appropriate ___ and cost.
65. Procurement of material and equipment accounts for over 80% of the project cost.
66. Under data processing, data is transformed into ___ using mathematical, statistical, or other tools.
67. A ___ may be conducted to identify the specific information requirements of stakeholders related to the various decision area in a project.
68. Data collected from records is known as primary data.
69. Blog is a whiteboard or webspace over the Internet.
70. In ___ meetings, all participants sit in a room and participate in the agenda.
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