DIFFERENCE BETWEEN PROJECT MANAGEMENT AND PORTFOLIO MANAGEMENT?

Question 1                                                                                          Marked out of 1.00

 

Martha works as a project manager at a bank. Due to certain changes in external factors, Martha needs to make a few alterations in the tactical goals of her project. In such a scenario, which of the following will best help Martha cope with the change?

 

Select one:

 

1. Motivation
2. Negotiation
3. Soft skills
4. Project environment knowledge

 

Question 2                                                                                          Marked out of 1.00

 

Which of the following is a difference between project management and portfolio
management?

 

Select one:

 

1. Project management addresses specific, short-term goals whereas portfolio management focuses on long-term goals.
2. Portfolio management is an easy task whereas project management is a more difficult task.
3. Project management involves making wise investment decisions whereas portfolio management does not.
4. 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?"

 

Question 3                                                                                          Marked out of 1.00

 

Which of the following questions reflect the strategic goals of project portfolio management?

 

Select one:

 

1. Are projects on time and on budget?
2. Are we investing in the right areas?
3. Do stakeholders know what they should be doing?
4. Are we carrying out projects well?

 

Question 4                                                                                          Marked out of 1.00

 

An important tool for project scope management is _____.

 

Select one:

 

1. crashing
2. fast tracking
3. a Gantt chart
4. a work breakdown structure

 

Question 5                                                                                          Marked out of 1.00

 

A difference between strategic and tactical goals is that:

 

Select one:

 

1. strategic goals are more specific than tactical goals.
2. tactical goals are more important for a project than strategic goals.
3. tactical goals encompass broader dimensions than strategic goals.
4. strategic goals are long-term in nature whereas tactical goals are short-term.

 

Question 6                                                                                          Marked out of 1.00

 

Which of the following best defines the role of leaders?

 

Select one:

 

1. They work on achieving primarily tactical goals.
2. They work solely toward day-to-day details of meeting specific tasks.
3. They focus on short-term objectives.
4. They inspire people to reach goals.

 

Question 7                                                                                          Marked out of 1.00

 

Which of the following is a disadvantage of virtual teams as compared to traditional teams?

 

Select one:

 

1. Limited flexibility in team working hours
2. Reduced opportunities for informal transfer of information
3. Reduced dependence on technology and processes for accomplishing work
4. Increased costs for office space and support

 

Question 8                                                                                          Marked out of 1.00

 

In organizational culture, means-end orientation refers to _____.

 

Select one:

 

1. the degree to which management focuses on outcomes rather than on techniques and processes used to achieve results
2. the degree to which rules, policies, and direct supervision are used to oversee and control employee behavior
3. the degree to which employees are encouraged to be aggressive, innovative, and risk seeking
4. the degree to which the organization monitors and responds to changes in the external environment

 

Question 9                                                                                          Marked out of 1.00

 

In the _____ phase, the project team creates a definitive or very accurate cost estimate, delivers the required work, and provides performance reports to stakeholders.

 

Select one:

 

1. development
2. concept
3. implementation
4. close-out

 

Question 10                                                                                        Marked out of 1.00

 

In a _____ organizational structure, personnel often report to both a functional manager and one or more project managers.

 

Select one:

 

1. functional
2. matrix
3. project
4. symbolic

 

Question 11                                                                                        Marked out of 1.00

 

Grey`s Infotech sells customized hardware and software solutions for businesses. The salespeople for Grey`s have a strict dress code when meeting clients. They are required to wear dark business suits, in order to convey the company`s dedication to quality. The meaning conveyed to the clients` through the salespeople`s clothing is part of the _____ frame of the organization.

 

Select one:

 

1. human resources
2. structural
3. symbolic
4. political

 

Question 12                                                                                        Marked out of 1.00

 

A _____ refers to a product or service, such as a technical report, a training session, a piece of hardware, or a segment of software code, produced or provided as part of a project.

 

Select one:

 

1. input
2. system
3. resource
4. deliverable

 

Question 13                                                                                        Marked out of 1.00

 

The project management plan is the output of the planning process of project _____.

 

Select one:

 

1. quality management
2. scope management
3. procurement management
4. integration management

 

Question 14                                                                                        Marked out of 1.00

 

The most difficult and unappreciated process in project management is often

 

Select one:

 

1. executing
2. monitoring and controlling
3. initiating
4. planning

 

Question 15                                                                                        Marked out of 1.00

 

Which of the following is a planning process associated with project scope management?

 

Select one:

 

1. Collecting requirements
2. Performing qualitative risk analysis
3. Planning schedule management
4. Estimating costs

 

Question 16                                                                                        Marked out of 1.00

 

Which of the following project parameters would be compatible with the use of the agile approach?

 

Select one:

 

1. Projects with inexperienced and dispersed teams
2. Projects that have more flexible scheduling
3. Projects with clear-up front requirements
4. Projects that have a fairly rigid completion date

 

Question 17                                                                                        Marked out of 1.00

 

A common _____ process is reporting performance, where project stakeholders can identify any necessary changes that may be required to keep the project on track.

 

Select one:

 

1. closing
2. planning
3. executing
4. monitoring and controlling

 

Question 18                                                                                        Marked out of 1.00

 

A _____ is an important Scrum artifact used to graphically display progress on each sprint during the monitoring and controlling process.

 

Select one:

 

1. product backlog
2. burndown chart
3. WBS
4. sprint backlog

 

Question 19                                                                                        Marked out of 1.00

 

Administrative activities, such as archiving project files, closing out contracts, documenting lessons learned, and receiving formal acceptance of the delivered work as part of the phase or project, are often involved in _____ processes.

 

Select one:

 

1. initiating
2. executing
3. closing
4. monitoring and controlling

 

Question 20                                                                                        Marked out of 1.00

 

Organizational process assets update is the output of the closing process of _____.

 

Select one:

 

1. project integration management
2. project procurement management
3. project quality management
4. project time management