Which of the following is a difference between project management and portfolio quizlet?

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1. Social Science
2. Sociology
3. Management

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Terms in this set (35)

Projects are temporary endeavors whereas an organization's operations are ongoing in nature.

Which of the following is a difference between projects and operations?

They have a unique purpose.

Which of the following is true of projects?

Project Sponsor

The role of a _____ is to provide direction and funding for a project.

Resources

Galaxy, a construction company, buys a particular brand of tiles manufactured by Tiles and Floors, an eco-friendly tile manufacturing company. However, Tiles and Floors has declared bankruptcy and closed down. At present, Galaxy is facing a crisis because there are no other manufacturers in the market that supplies eco-friendly tiles. Which of the following constraints is Galaxy currently facing?

The Robinson family

Steve, an engineer in a construction company, is at present working on a home construction project. The home is being built for the Robinson family, the owners of the home. Steve is working with his project team and support staff to ensure the project is completed on time. In such a scenario, the project sponsor is _____.

Scope

Project _____ management involves defining and managing all the work required to complete the project successfully

Quality

Project _____ management ensures that the project will satisfy the stated or implied needs for which it was undertaken.

Project communications management

Which of the following project management knowledge areas primarily involve generating, collecting, disseminating, and storing project information?

Buying goods and services for a project from outside the performing organization.

Project procurement management mainly involves:

Project integration management

Which of the following project management knowledge areas is an overarching function that affects and is affected by the different knowledge areas?

A work breakdown structure

An important tool for project scope management is _____.

Gantt charts

Which of the following tools are most likely to be used in project time management?

Time

Fast tracking is an example of a tool used in _____ management.

Cost

In which of the following areas of management is payback analysis most likely to be used?

Checklist

A _____ is a tool used in quality management.

Human resource

Team building exercises and motivation techniques are tools used in _____ management.

Kick-off meetings

Which of the following tools can best help in efficient communication management?

Probability matrice

A _____ is a tool used in risk management.

It does not guarantee successes for all projects.

Which of the following statements is true of project management?

They provide leadership and direction for project managers heading the projects within a program.

Which of the following is true of program managers?

Project management addresses specific, short-term goals whereas portfolio management focuses on long-term goals.

Which of the following is a difference between project management and portfolio management?

Strategic goals are long-term in nature whereas tactical goals are short-term.

A difference between strategic and tactical goals is that:

Are we investing in the right areas?

Which of the following questions reflect the strategic goals of project portfolio management?

Project environment knowledge

Martha works as a project manager at a bank. Due to certain changes in external factors, Martha needs to make a few alterations in the tactical goals of her project. In such a scenario, which of the following will best help Martha cope with the change?

Human relations skills

Joe is a project manager in an IT company and has over the years, gained substantial knowledge in his area of work. However, while managing his team, he often loses his temper. In addition, he fails to be an active listener when his team members approach him with work related challenges. In which of the following areas does Joe need to develop his skills in?

They inspire people to reach goals.

Which of the following best defines the role of leaders?

Calendar

A Gantt chart is a standard format for displaying project schedule information by listing project activities and their corresponding start and finish dates in a ____ format.

Determines the earliest completion date of a project.

A critical path:

Project Management Office

A _____ is an organizational group responsible for coordinating the project management function throughout an organization.

PMI

Which of the following provides certification as a Project Management Professional?

Ethics

Which of the following refers to a set of principles that guides decision making based on personal values of what is considered right and wrong?

They provide basic project management features.

Which of the following is true of low-end tools of the project management software?

Low-end

Which of the following types of tools is usually recommended for small projects and single users?

High-end

Enterprise project management softwares are also known as _____ tools of project management software.

Midrange tools are designed to handle larger projects than low-end tools.

Which of the following is a difference between low-end and midrange tools of the project management software?

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Which of the following is a difference between project management and portfolio?

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