WEEK 2 (INTRO)

What are the three interrelated objectives of a project?

• Scope, Time, Cost

• Quality, Time, Resources

• Scope, Quality, Budget

• Time, Cost, Resources

What is a critical skill for a project manager?

• Technical expertise

• Negotiation skill

• Financial analysis

• Time management

What does the project life cycle consist of?

• A collection of random phases

• A collection of generally sequential project phases

• A single phase of project management

• A series of unrelated tasks

What is the purpose of project selection?

• To evaluate and choose projects for implementation

• To assign tasks to team members

• To create project budgets

• To develop project timelines

Which model is used for ranking projects based on perceived benefits?

• Sacred Cow Model

• Comparative Benefit Model

• Payback Period Model

• Discounted Cash Flow Model

What does the payback period measure?

• The overall project duration

• The time required to recover the initial investment

• The annual cash inflow

• The total profit of a project

What is a disadvantage of the payback period method?

• It is too complex to use

• It requires extensive data analysis

• It considers time value of money

• It ignores cash inflows beyond the payback period

What does NPV stand for in project selection?

• Net Performance Value

• Net Present Value

• Net Profit Value

• New Project Value

Which of the following is a numeric model for project evaluation?

• Sacred Cow Model

• Weighted Factor Scoring Model

• Payback Period

• Q-Sort Method

What is the main purpose of negotiation in project management?

• To finalize project budgets

• To reach agreements among stakeholders

• To assign project roles

• To develop project timelines