Gollis University

Upgrading project 1
Project mananagement

Name ___________________________________ID___
This paper contains two parts.
Part One [20 marks ] Do all the Questions in Part One
1) Risks that relate to losing monetary resources or incurring unacceptable
liabilities……
a) Financial Risks
b) Regulatory Risk
c) Strategic Risks
2) Planning makes optimum utilization of all available resources. It helps to reduce
wastage of valuable resources and avoids their duplication
a) Encourages creativity and innovation
b) Helps in Organizing
c) Increases efficiency
3) Create criteria that you can use to measure the success of a goal.
a) Measurable
b) Realistic
c) Timely
4) ….is the risk of activities taking longer than expected. Typically this risk is also due
to poor planning
a) cost risk
b) schedule risk
c) performance risk
5) …… are those costs or benefits that an organization can easily measure in dollars
a) Tangible cost or benefit
b) Intangible cost or benefit
c) Sunk cost
6) determining which risks are likely to affect a project and documenting their
characteristics
a) Risk identification
b) Qualitative risk analysis
c) Risk management planning
7) Risks that relate to doing the right things in the wrong way (fraud
a) Operational Risks
b) Reputation Risk:
c) People Risks
8) Planning is the first and most important function of management.
 a) True
b) False
9) Every organization has certain objectives or targets. It keeps working hard to fulfill
these goals
a) True
b) False
10) Attainable is to set specific goals, answer the following questions: who, what, where,
when, and why
a) True
b) False
Part two ( 30 marks ) answer all questions
1) What is difference between project and program?
2) what are the project cost management process?
3) explain common type of project?
4) Why is project risk management important?
5) What are the project management objectives?
6) why planning is important for organization?
7) What are the Tips to reduce risks in project management?
8) Define Benefits Of Projects?
9) Who is Responsible for project?
10) Discuss what you learned in this course and how this course
benefits you?