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IT Project Management Quiz

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”

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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

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

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

4.
Question 4
The option to make a follow-on investment is a put option

1 point

  • True
  • False

5.
Question 5
In real options, required
investment is considered the exercise price

1 point

  • True
  • False

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

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

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%

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%

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

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

3.
Question 3

1 point

19

22

24

4.
Question 4

Question: Which activity Duration would you reduce?

1 point

Activity B

Activity E

Activity D

Activity A

5.
Question 5

Question: By how much would you reduce the duration?

1 point

By one unit

by two units

by four units

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

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

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

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.

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

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

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

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

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

6.
Question 6
Critical chain project management approach includes

1 point

Project buffers

Feeder buffers

Critical resources put on call

All of the above

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

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

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

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

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

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

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

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

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

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

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

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

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

 

 

 

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