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Lecture Review
There are no “Lecture Review” questions this week because interactive learning object contains
questions.

Final Exam Support

We have now completed the content covering initiating and planning projects. This tutorial is a mid-
semester review. The following list of multiple choice questions will help you prepare for the final
exam.

1. According to PMBOK, what are: Initiating, Planning, Executing, Monitoring and Control,
Closing
a. Process Groups
b. Project Phases
c. Knowledge Areas
d. Tools and techniques used in project management
2. Agile delivers requirements through a process of iteration, that enables incremental change
throughout a project’s life cycle. What does the Waterfall method do?
a. The waterfall method identifies project phases in terms of gathering requirements,
designing, implementation, verification and maintenance
b. The waterfall method is a process of improving quality by removing the cause of
defects
c. The waterfall method include analysis, design, coding then testing
d. Waterfall is exactly the same as agile. It involves iteration, that enables incremental
change throughout a project’s life cycle.
3. Fill in the blanks: PMBOK identifies *xx* processes commonly used by project managers.
They all can be mapped against the *xx* knowledge areas and *5* process groups. Planning
is one of the *xx* process groups. Planning contains *xx* processes.
4. Program Management includes multiple projects.
a. True
b. False

Calculate the NPV for the following 3 situations. Use a discount rate of 10%

Situation Year 0 Year 1 Year 2 Year 3

1 -$10,000 $4,000 $5,000 $3,000
2 -$20,000 $9,000 $9,000 $5,000
3 -$30,000 $12,000 $11,000 $15,000

5. In order to develop a *xx* Charter you will need to have already *xx* Stakeholders. The next
significant process you will need to complete is; *xx* a Project *Management* *xx*. This
will involve completing 18 subordinate process.
6. AOA network diagrams only include *xx* to *xx* dependencies.

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 7. Which of the following is NOT an example of a project milestone?
a. A deliverable
b. A key decision or task
c. A percentage of project completion
d. A project's name
8. Which of the following may be considered an example of a milestone?
a. Completing images for an advertising campaign by a certain date
b. Delivering a piece of software
c. Obtaining a parental consent form
d. All of the answers represent an example of a milestone.
9. You can purchase equipment for a project for $20,000. The benefit in cost savings $1,000
per month. The project will run for 3 years. Your standard requirement for payback is 2
years.
a. What is the payback period?
b. Should the equipment be purchased using the standard requirements?
10. Risk is measured by:
a. Probability and impact
b. Cost and schedule
c. Negative and positive
d. Source and responsibility

You will probably need to use your text book, the past video vaults or google to answer the following
questions:

11. What are the following tools used for?

a. Pareto diagrams
b. Control charts
c. Fishbone diagrams
d. Trend analysis
12. Describe 3 different risk appetites Project Managers can adopt?
13. What is the difference between the following two techniques; fast tracking and; crashing?
14. What are the following terms TCPI and BAC and explain how they are used as tool to help
make decisions?
15. What do the following terms mean?
a. Lag
b. Lead
c. Slack
d. Float
16. What is a “change request” in Project Management?
17. What is the difference between fixed costs and variable costs?
18. What is the difference between direct costs and indirect costs?
19. What is a RACI chart and what is it used for?
20. How long will the following project last?

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 21. What tasks are on the critical path?

Reflective Questions
There are no reflective questions this week. Please remind me to provide you with techniques on
how to answer reflective questions in the future.