IT Project Management Quiz Answer. In this post you will get Quiz Answer Of IT Project Management Quiz
IT Project Management Quiz
Offered By ”Indian School of Business”
week- 1
Graded Questions
1.
Question 1
Which one of these is
not part of the project life cycle?
1 point
- Monitoring and Control
- Ongoing maintenance
- Definition and Initiation
- Planning
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2.
Question 2
The opportunity to
defer investing to a later date may have value because:
(I) The discount rate may change in the
near future.
(II) Uncertainty may be increased in the
future.
(III) Investment costs may fluctuate over
time.
(IV) Some uncertainty in the project cash
flows may be resolved
1 point
- I only
- I and II only
- III only
- IV only
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3.
Question 3
An example of a real option is:
1 point
- The option to make follow-on investments
- The option to abandon a project.
- The option to wait before investing
- All of the above
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4.
Question 4
The option to make a follow-on investment is a put option
1 point
- True
- False
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5.
Question 5
In real options, required
investment is considered the exercise price
1 point
- True
- False
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6.
Question 6
Which one of the following statements is not true?
1 point
- The functional organization is ideally suited to run projects
- In the functional organization, the entire organization is structured around logically coherent units
- Functional organizations give people the opportunity to specialize
- In a Project Structure, the team members typically devote full time for the project
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7.
Question 7
Project management is:
1 point
- Same as Product management
- Managing routine work
- A job that should only be undertaken by technical staff
- The planning and controlling of resources for a specific time to achieve a predetermined goal
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8.
Question 8
Project Alpha has two
phases. You may invest in the first, in both or in neither.
You
cannot invest
in the second phase without
investing in the first.
Phase 1 requires
an investment of $100. One year later the
project delivers with equal probability either $160 or $60 and the phase 1
ends. At that
time, after the phase 1 payout has been
received, you may invest an additional $100 for phase 2.
One year later, phase 2 pays out either 20% more cash
than phase 1 actually delivered
or (equally likely) 20% less. Assume no taxes.
The discount rate is 10% per year.
Question: How much
would Project Alpha be
worth if it offered only the phase 1 opportunity?
1 point
- 0
- 10%
- 20%
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9.
Question 9
Project Alpha has two
phases. You may invest in the first, in both or in neither.
Question:
How
much would phase 2 be worth if you had to choose today, once and for all, whether or not to invest in it?
1 point
- 5%
- 20%
- 0
- 10%
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10.
Question 10
Question: How much is Project Alpha worth if you have access to both phases and can wait to decide whether to invest in phase 2 or not?
1 point
- 5%
- 20%
- 20.66
- 10
Week- 2
Graded Questions
1.
Question 1
Suppose a network diagram contains the following
Where A and B are two activies. The relationship between activities A and B is referred as:
1 point
Start to Start lag
Start to Finish lag
Finish to Start lag
Finish to Finish
lag
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2.
Question 2
A linear programming (optimization) problem includes
1 point
variables whose values are to be determined
constraints where each constraint must be a linear function of the variables
the objective is either to maximize or alternatively minimize a linear function of the variables
All the above
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3.
Question 3
1 point
19
22
24
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4.
Question 4
Question: Which activity Duration would you reduce?
1 point
Activity B
Activity E
Activity D
Activity A
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5.
Question 5
Question: By how much would you reduce the duration?
1 point
By one unit
by two units
by four units
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6.
Question 6
A sequence of tasks that
cannot be delayed without causing the project to be completed late is referred to as
1 point
total float
free float
Critical path
None of the above
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7.
Question 7
The first step in project crashing is:
1 point
Among all the task choose the one with the
lowest crash cost
Identify “near” critical paths in the network
Among all the tasks choose the one with lowest incremental cost per unit reduction in activity time
List the crash time and crash costs for each task in the project
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8.
Question 8
What kind of a relationship (lag) is implied when completion of a successor
is dependent on initiation of its predecessor?
1 point
Finish to Start
Finish to Finish
Start to Start
Start to Finish
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9.
Question 9
Which one statement below is not true
about Reducing Project Duration?
1 point
Reducing Project Duration may reduce the total project costs.
Reducing Project Duration takes into account the increase in costs and
the benefits to be derived from reducing project duration
Reducing Project Duration can be defined as allocating resources to reduce all activity durations so that the project completion time is as short as possible.
Use of overtime is one possible way of reducing the durations of some activities in order to reduce the project completion time.
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10.
Question 10
Suppose a Network diagram contains the following:
where A and B are two activities. The relationship between activities A
and B is referred to as
1 point
Start to Start lag
Start to Finish lag
Finish to Start lag
Finish to Finish lag
Week- 3
Graded Questions
1.
Question 1
For resource constrained projects which of the following statements is
always true
1 point
The
resource requirements are unpredictable
The use of resources at any point in time during the project cannot
exceed the amount of resources available.
The
project completion time with resources cannot exceed the earliest completion
time of the project.
None
of the above
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2.
Question 2
Suppose the distribution of the duration of an activity is a triangular
distribution where
A is the least possible duration
B is the maximum possible duration and
M is the most likely duration.
The expected duration for the activity is
1 point
(A + (4 * M) + B) / 6
M
(A + B + M) / 3
None of the above
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3.
Question 3
Which of the following is true about risks?
1 point
Risk breakdown structure is useful for risk identification
Risk impact should be considered but probability of occurrence is not important
Risk always has negative impact and not positive
None of the above
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4.
Question 4
If a project
has a 60% chance of a U.S. $100,000 profit and a 40% chance of a U.S. 100,000
loss, the expected monetary value of the project is
1 point
$100,000 profit
$20,000 profit
$40,000 profit
$60,000 profit
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5.
Question 5
Which one of the following statements is
true?
1 point
Resource allocation is also called resource breakdown.
Time Limited project means, the project must be finished by using as few resources as possible
Time Limited project means, the project must be finished by a certain time
Resource Limited project means resources must be used efficiently
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6.
Question 6
Critical chain project management approach includes
1 point
Project buffers
Feeder buffers
Critical resources put on call
All of the above
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7.
Question 7
One
of the objectives of ____ is to determine the distribution of project
completion time
1 point
Critical path method
Critical chain method
Project evaluation and review technique (PERT)
Tracking Gantt chart
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8.
Question 8
In
Program Evaluation and Review Technique (PERT), the three estimates for the
duration of an activity are defined as
A: optimistic estimate
B: pessimistic estimate
M: most likely estimate
Which of the following relationships are true
1 point
A > M
A > B
B< M
A < B
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9.
Question 9
Suppose the distribution of the duration of an activity is a triangular
distribution. The number of parameters for a triangular distribution are
1 point
1
2
3
4
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10.
Question 10
If a project
has a 30% chance of a U.S. $100,000 profit, 20% chance of a U.S. $50,000
profit, a 40% chance of a U.S. 40,000 loss and a 10% chance of a U.S. $60,000
loss, the expected monetary value of the project is
1 point
$24,000 profit
$18,000 profit
$22,000 loss
$16,000 loss
Week- 4
Graded Quiz
1.
Question 1
Which of the following is not a goal of a Daily
Stand Up meeting?
1 point
To keep team members informed of progress
To raise potentials issues and risks up for
resolution
To gain insights into delayed and “stuck” tasks
To understand the strategy of the organization
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2.
Question 2
If the cost variance
is positive and the schedule variance is also positive, then it indicates that
the
1 point
Project is under budget and behind schedule
Project is over budget and behind schedule
Project is under budget and ahead of schedule
Project is over budget and ahead of schedule
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3.
Question 3
Earned Value
provides answers to the following important questions:
1 point
What value of work should have been completed
How much value have we realized so far
How much money has been spent to date to get the project
where it is today
All of the above
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4.
Question 4
In Earned
Value analysis at project review time, the percent complete rule is that the
earned value for an activity that is in progress but not completed is
1 point
Zero
100 % of the total planned value for that activity
Percentage completion of that activity multiplied by the total planned value for that
activity
None of the above
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5.
Question 5
What are the steps involved in audit of a project
1 point
Initiation and Staffing
Data Collection and Analytics
Reporting
All of the above
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6.
Question 6
Performance is measured in terms of:
1 point
A. Only by Time, Cost and Specifications
B. Purely by Individual Evaluation
Both A and B
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7.
Question 7
The initial
estimates and the plan including the schedule are effort to:
1 point
Baseline Estimates
Monitor Current Status
Variances and Revised Estimates
Control: Corrective Action
All of the above
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8.
Question 8
In the
analytics of current status of the project, two methods are used:
1 point
Tracking Gantt Charts & Earned Value Analysis
Precedence relationship & calculated time frame
budget
All of the above
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9.
Question 9
Define
Agile:
1 point
Agile is the ability to respond to change in a turbulent environment
Agile is the ability to balance the Project
The traditional sequential plan driven project lifecycle
None of the above
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10.
Question 10
For the activities that are completed:
1 point
Earned Value = Planned Value
Earned Value = 0
Earned Value = Monitoring and Control
None of the above
