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Midterm Examination in Project Management

I. Identification: Choose the answer on the pool of words below

1. A chance to improve the org. – creating a new product

2. Analysis is a method of calculating the expected net monetary gain or loss from a
project by discounting all expected future cash inflows and outflows to the present
point in time
3. Can by calculated by finding the discount rate that makes the NPV of all cash flows equal
to zero
4. an undesirable situation that prevents an org. from achieving its goals
5. involves determining long-term objectives, predicting future trends, and projecting the
need for new products and services
6. identifying and managing the points of interaction between various elements of the
project
7. The amount of time it will take to recoup, in the form of net cash inflows, the total
dollars invested in a project
8. a document that formally recognizes the existence of a project and provides direction
on the project’s objectives and management
9. The tendency for project scope to keep getting bigger
10. A document used to develop and confirm a common understanding of the project scope
11. An important information about stakeholders
12. a methodology that converts an organization’s value drivers, such as customer service,
innovation, operational efficiency, and financial performance, to a series of defined
metrics
13. A new requirement imposed by management, govt or some external influence
14. calculated by subtracting the project costs from the benefits and then dividing by the
costs
15. are a complete set of organized project records that provide an accurate history of the
project
16. A way of creating pictures that show ideas in the same way that they are represented in
your brain
17. involves controlling changes to the project scope
18. the difference between planned and actual performance
19. a document that includes descriptions of how the team will prepare the project scope
statement
20. Bonus

Return of Investment Net Present Value Scope Creep

Stakeholder Analysis Internal rate of return scope Control
Opportunity Project Charter Strategic planning
Problem Interface management Directive
Payback Period Balanced Scorecard Scope Statement
Mind Mapping Project Archives Variance
Scope Management Plan Deliverables
II. Multiple Choice: choose the answer on the selection of every item
1. subdividing project deliverables into smaller pieces
a. Work Breakdown Structure c. Decomposition
b. Work Package d. Deliverable
2. includes the processes involved in defining and controlling what is or is not included in a
project
a. Project Scope Management c. Project Communications Management
b. Project Integration Management d. Project Risk Management
3. start with the largest items of the project and break them down
a. Bottom – up approach c. Analogy Approach
b. Top – down approach d. Mind Mapping Approach
4. a technique that uses branches radiating out from a core idea to structure thoughts and
ideas
a. bottom-up approach c. top-down approach
b. analogy approach d. Mind-mapping approach
5. review WBSs of similar projects and tailor to your project
a. top-down approach c. bottom-up approach
b. analogy approach d. Mind-mapping approach
6. A document that describes detailed information about each WBS item
a. project scope statement c. WBS dictionary
b. scope management plan d. scope baseline
7. involves formal acceptance of the completed project scope by the stakeholders
a. Scope control c. Scope Variance
b. Scope verification d. Scope Baseline
8. Often depicted as a task-oriented family tree of activities
a. Work breakdown Structure c. Scope Management Plan
b. Work breakdown approach d. Work Breakdown Dictionary
9. reviewing the project charter and preliminary scope statement and adding more
information as requirements are developed and change requests are approved
a. Scope planning c. Scope definition
b. Scope verification d. Scope Control
10. refers to all the work involved in creating the products of the project and the processes
used to create them
a. Deliverables c. Decomposition
b. Scope d. Mind Mapping
11. describe where the project stands at a specific point in time
a. Status reports c. Progress reports
b. Forecasts d. Archives
12. are a complete set of organized project records that provide an accurate history of the
project
a. Status reports c. Archives
b. Progress reports d. Forecast
13. Describe what the project team has accomplished during a certain period of time
a. Status reports c. Archives
b. Progress reports d. Forecast
14. keeps stakeholders informed about how resources are being used to achieve project
objectives
a. performance rating c. Issue Log
b. performance reporting d. resource reporting
 15. developing an approximation or estimate of the costs of the resources needed to
complete a project
a. Cost budgeting c. Cost estimating
b. Cost control d. Cost Allocation
16. The ratio of revenues to profits
a. Cost c. Cash flow analysis
b. Profit margin d. Life cycle costing
17. involve estimating individual work items or activities and summing them to get a project
total
a. top-down estimates c. Bottom-up estimates
b. Analogous estimates d. Parametric modeling
18. determines the estimated annual costs and benefits for a project and the resulting
annual cash flow
a. Cost c. Cash flow analysis
b. Profit margin d. Life cycle costing
19. allocating the overall cost estimate to individual work items to establish a baseline for
measuring performance
a. Cost budgeting c. Cost estimating
b. Cost control d. Cost Allocation
20. controlling changes to the project budget
a. Cost budgeting c. Cost estimating
b. Cost control d. Cost Allocation

Prepared by:

Raymond A. Ramirez, MIT(Cand.)

Instructor