1. Of the following, which is a drawback of utilizing Agile project management?

A. It is potentially more challenging to control project cost and schedule in an agile environment.

B. Agile project managers are typically less experienced than waterfall project managers.

C. Only startups use Agile project management.

D. Agile project management has a steep learning curve.

2. If incorrect, incomplete, excessive, and or ambiguous, ______ can impede project success.

A. project stakeholders

B. project baselines

C. project requirements

D. quality analysis activities

3. Agile project management is useful in projects when the scope is unclear and the priorities are changing. Unclear scope and changing priorities are characteristic of ______ project types.

A. software development

B. construction

C. waterfall

D. predictive

4. Which of the following factors does NOT contribute to the growth in demand for good project management skills?

A. The size, number, and significance of projects has increased.

B. Complex strategic projects have a direct impact on an organization's ability to survive.

C. Both private and public sector leaders are increasingly focused on ways to increase the likelihood of positive project outcomes.

D. Project managers have saturated the job market.

5. An important part of the project planning process is developing an understanding of the environment in which the project operates. The ______ part of the project includes developing a clear understanding of the limits or restrictions (e.g. budget limitations, time restrictions, resource availability, program needs and requirements) that are imposed from outside the project.

A. assumptions

B. constraints

C. project completion criteria

D. initial responsibilities matrix

6. The ______ part of the project's executive summary might include a concise representation of marginal cash flows.

A. anticipated benefits

B. project objectives statement

C. expected costs

D. critical success factors (CSFs)

7. Most risks associated with exogenous factors can be managed at the ______ level.

A. portfolio

B. program

C. project

D. operational

8. New project proposals should always be evaluated with respect to an organization's ______ (or the totality of its projects, programs, and operations), and to its strategy and mission.

A. PMO

B. portfolio

C. ethics

D. funding limits

9. The ______ part of the project's comprehensive project plan conveys the what and where of the project.

A. significant risks

B. project description

C. project overview

D. background and project history

10. ______ is defined as the return on investment defined by average earnings divided by average initial investment.

A. Internal rate of return (IRR)

B. Accounting rate of return (ARR)

C. Payback period

D. Net present value (NPV)

11. Simply stated, ______ is what we hope to achieve by completing a project.

A. scope

B. project objectives

C. approach

D. phasing strategy

12. ______ is a tool that uses a branching structure to map out decision points and consequences.

A. Mind map

B. Decision tree

C. Flow chart

D. Work breakdown structure (WBS)

13. For any ranking/scoring method, there are several ways to quantify attributes. Of the following methods for quantifying attributes, ______ is the method used to rate something on a scale from one to ten.

A. yes/no scale

B. forced ranking

C. go/no-go ranking

D. Likert scale

14. Which of the following is NOT a valid contributing factor in the increase in project complexity and associated risks?

A. globalization

B. project decentralization

C. generation Z entering into the workforce

D. changes in information technology

15. Every project has a set of requirements it must satisfy. Requirements risks include those issues, events, and conditions that are uniquely related to project or product requirements. Of the following, which is NOT a common type of requirements risk?

A. patents and copyrights

B. incomplete or over-specification

C. incorrect or missing requirements

D. scope creep

16. The ______ an option contract / contract project can be estimated using the Black-Scholes option pricing model that was developed by Fischer Black and Myron Scholes in 1973:

A. opportunity cost of

B. value of

C. sunk cost of

D. annual rate of return (ARR) from

17. ______ project types support the long-term viability of an organization and its stated mission.

A. Utility

B. Process improvement

C. Strategic

D. Low-risk

18. Technology risks include those issues, events, and conditions that are uniquely related to technology. Of the following, which is NOT a common type of technology risk?

A. early adoption of new technologies among resources

B. having the correct technological resources available when required

C. tech reliability (or lack thereof)

D. first time integrating existing technologies

19. An alternative to using numerical or quantitative measures when evaluating new project proposals, the ______ qualitative project proposal evaluation technique consists of creating lists of attributes and associated weights.

A. scoring/ranking model

B. prioritization model

C. risk model

D. earned value management

20. The ______ part of the project's executive summary should concisely offer a clear understanding of the purpose and importance for the projectin other words, what the project will do and why it is important.

A. anticipated benefits

B. project objectives statement

C. expected costs

D. critical success factors (CSFs)

21. ______is the part of the comprehensive project plan in which the ownership roles of project processes and deliverables are defined.

A. Assumptions

B. Constraints

C. Project completion criteria

D. Initial responsibilities matrix

22. The ______ part of the project's Executive Summary identifies, at a high-level, an event or multiple events that have a significant probability of occurring, and could have a significant impact on project outcomes.

A. significant risks

B. project description

C. project overview

D. background and project history

23. ______ is the sum of the discounted cash flows (DCFs) over the life of the project.

A. Payback period

B. Net present value (NPV)

C. Accounting rate of return (ARR)

D. Internal rate of return (IRR)

24. Of the following groups, the ______ is the least likely to rely on the project's comprehensive project plan for its project information needs?

A. performing organization's executive leadership team

B. project stakeholders

C. project team

D. project manager

25. ______ is defined as the overall increase in the price of goods and services such that the value of currency is reduced over time.

A. Payback period

B. Net present value (NPV)

C. Internal rate of return (IRR)

D. Inflation