Project Management Quiz 1

To be deemed a ‘project’ your activity must have the following characteristics:

• An official start and end date

• An outcome that provides a benefit or value

• Requires an allocation of resources

• All of the above

Answer explanation

All of the above are key characteristics that determine what a project ‘looks like’ or what it needs to have to be called a project. Since there is a start and end date it also indicates that this is a temporary undertaking that requires you to use the allocated resources for a specific outcome or end product.

Successful project management requires you to manage each stage of your project from the start to the end:

• True

• False

Answer explanation

A project manager is responsible for the project throughout all of the phases of the project life cycle. They are accountable during each phase and as a result can ensure success of the project.

In successfully managing your project, you will need to:

• Understand what is required to be delivered and by when

• Plan along the way

• Borrow money to cover costs

• Engage with the stakeholders at the closure of the project

Answer explanation

You will need to understand what the requirements of the project are and how you might go about delivering the project within the time agreed.

Planning needs to occur before any actions are taken and should not be done ‘along the way’. The budget is predetermined during the planning phase and the money within the budget needs to be deployed carefully so that the project can be successfully managed. Stakeholders need to be communicated with throughout the life cycle of the project and not only at the end when the project ends.

The initiation (beginning) phase requires you to:

• Implement your project

• Engage with stakeholders

• Understand your needs and consider all possible options

• Specify your project resources

Answer explanation

The initiation phase is usually the shortest phase of the project life cycle, and it is at this point where you identify what the project requires you to do and to consider all of the options to approach your project.

The project is only implemented once there is clear understanding of the project requirements and thorough planning has been undertaken. Resourcing the project and engaging with stakeholders occur later within the project management lifecycle and these can only be done successfully after initiation and planning.

In addition to Monitor and review which option best describes the phases of your project from start to end:

• Initiation, Execution, Planning, Closure

• Initiation, Planning, Execution, Closure

• Planning, Execution, Initiation, Closure

• Planning, Initiation, Execution, Closure

• Execution, Planning, Initiation, Closure

Answer explanation

The project management life cycle follows a distinct process that needs to be followed in that order. Initiation is the first phase whereby you identify the project and consider options as to how you might approach it. You will then enter a planning phase where you take time to carefully plan your scope, schedule and costing for the project.

Once your planning is in place, you are ready to execute your project and manage risk, your team and stakeholders. The final phase of any project is ‘closure’ where your project ends, and you hand over the completed product or service to the stakeholder.

Successful project management requires your project to:

• Be delivered on time

• Be delivered within the budget

• Meet your project requirements

• Cover all of the above

Answer explanation

Since a project is a temporary endeavor, it needs to be completed within the agreed timeframe determined, using the budget and resources allocated and meet the objectives outlined in the initiation phase of the project life cycle.

A good project manager is deemed to have effective communication skills:

• True

• False

Answer explanation

A good project manager often has effective communication skills because they are usually required to engage with a team and multiple stakeholders.

Risk identification and management is the responsibility of the:

• External stakeholders

• Internal stakeholders

• Project manager

• All of the above

Answer explanation

The project manager is the person responsible for identifying and managing risk. Although they might engage with internal and external stakeholders throughout the process, the responsibility and accountability ultimately lies with them.

Project management is only applicable for construction type projects and not policy or process type projects:

• True

• False

Answer explanation

Projects come in many different forms. They can be large or small, simple or very complex.

In the execution phase of the project life cycle, the project manager is required to deal with the following issues:

• Scope, scheduling and costing

• Risk, team management and stakeholder engagement

• Creating a high-level plan

• Monitoring process and obtaining feedback

Answer explanation

It is in the execution phase of the life cycle that the project manager will need to manage risk and ensure that plans are in place to reduce or mitigate any risks that may arise. In this phase, the project manager will need to ensure effective communication with his team so that all activities related to the project are completed by the determined deadlines and with the resources allocated. Engaging stakeholders during this phase further aids in the smooth integration of all of the project management activities and helps clarify the expectations of the stakeholders.