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Project Management Weekly Challenge 3_Updating

 

Foundations of Project Management (W3)


1. Which term refers to the process of initiating a project, making a plan, executing and completing tasks, and closing a project?

A: Project life cycle

2. Why is it important to initiate a project (phase one) before making a plan (phase two)?

A: Because understanding scope, cost, and timeline is crucial to creating a budget, setting a schedule, and determining roles and responsibilities

3. As a project manager, your team is creating a product that will require flexibility—changes are likely to occur. Also, tasks will overlap or happen at the same time as other tasks. Which project management methodology is the best for your project?

A: Iterative methodology

4. Which answer best describes the Agile project management methodology?

A: Created in the nineties, the Agile methodology refers to being able to move quickly and easily through a project by working on many tasks at once.

5. What is the main advantage of the Agile approach over the Waterfall methodology?

A: Agile takes a flexible approach, letting teams make adjustments as they go.

6. As a project manager, your team is improving one of your client’s current sales conversion processes. This is a complex project with many steps. It’s also high-risk. One missed step could cost your client significant potential revenue. Which project management methodology is best for this project?

A: Lean Six Sigma methodology

7. Which of the following are project manager responsibilities during the planning phase? Select all that apply.

A:
- Establish the team
- Create a budget
- Set the schedule

8. When closing a project, in what meeting does the team reflect on what went well and didn’t go well in the project?

A: Retrospective

9. In which project phase does it help to ask questions such as: “Who are the stakeholders?”, “What skills and resources will the project require?”, and “What are the client’s or customer’s goals?”

A: Initiate the project

10. Which project management approach uses the 5S quality tool and implements a Kanban scheduling system to manage production?

A: Lean



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