In general, which of the following statements is not correct about Project Management?

1. Reporting relationships are typically not as well defined as in General Management
2. Many of the project's activities should be customized to support deliverables and goals
3. Project plan details should be fixed at the beginning of the project, and never change unless there is a formal decision by the Steering Committee
4. Win-win negotiations approach often works best to resolve conflicts within the project
5. None of the above

When setting up the appropriate structure for a new project, which of the following is (are) important characteristic(s) to consider?

I. Need for functional integration

II. Project duration

III.Size of the Portfolio

IV. Strategic priority

1. I and III
2. I, II, and IV
3. II, III, and IV
4. I, II, III, and IV

Which of the following of is a critical responsibility that an effective Steering Committee must own?

1. Review project activities
2. Make early decisions to approve project plans, have negligible involvement during project execution, and then review the results and risks at the project's conclusion
3. Make decisions on potential changes to the overall project's scope, budget, or timeline
4. Use back channels to change previous decisions
5. All of the above

Assume that you are a Project Management in the large contract manufacturing biopharmaceutical facility, and you are leading a project to install new lab equipment at an upfront cost of $6.6 million. You estimate that the incremental monthly revenue from the new equipment will be $150,000/month in the initial two years, $200,000/month in years 3 and 4, and $300,000/month in the following two years. What is the payback period?

1. 3 years
2. 3 years and 3 months
3. 4 years
4. 4 years and 8 months
5. None of the above

The R&D portfolio has been allocated $2.5M that can be invested this year across various new project opportunities. The Head of R&D has asked you to evaluate the three potential projects below, and to only use NPV as the evaluation criteria. Which of the following statement is correct for the NPV assessments below?

	Project A	Project B	Project C
NPV	Minus $1,800,000	Minus $150,000	Minus $275,000

1. Projects B and C only should be selected
2. Project B only should be selected
3. Either project B or C should be selected
4. All three projects A, B, and C should be selected
5. None of the projects A, B, or C should be selected

In the critical path method, which of the following is true

I. The difference between earliest finish time and earliest start time gives the slack

II. The difference between latest finish & earliest finish is equal to the difference between latest start and earliest start

III. Total project duration is the difference between latest start of the first task and earliest finish of the last task

1. II and III
2. I and III
3. I and II
4. I, II, and III

Benchmarking is an important input into the business case and project planning activities.Which is not an appropriate use of benchmarking information

1. Inform project-driven improvement opportunity based on performance at other companies
2. Learn what worked and did not work at other companies
3. Construct your project's business case solely using benchmarking data
4. Use benchmarking as one of the inputs to build organizational consensus for the project

Related to schedule hierarchy, the defined four schedule levels that are appropriate for large / complex projects. Which of the following is not an accurate statement?

1. Linking key milestones and deliverables among the schedule levels is not required
2. Combining some of the schedule levels for smaller / less complex projects is appropriate
3. Schedules should be based on scope and strategy, not the other way around
4. Different schedule levels are important communication tools for the project team and to various stakeholders

Consider the project plan below. Which of the following is correct?

4 12 15 18 21 24 27 30 3 6 9 12 15 18 21 24 27 30 2 5 4 11 14 Modo + Task Mane - Free Slack - Told Slut T Final - MC 0 days 0 days A O days O dan 3 days 0 days Q days 0 days Q days 0 days 0 days 0 days