04 Entrepreneurship Development MCQs

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04 Entrepreneurship Development MCQs

********** UNIT-4 **********

Q1. A ____ is a set of activities which are networked in an order and aimed towards achieving the goals of a project.
(A). Project
(B). Process
(C). Project management
(D). Project cycle
Answer: (A)

Q2. Resources refers to
(A). Manpower
(B). Machinery
(C). Materials
(D). All of the above
Answer: (D)

Q3. Developing a technology is an example of
(A). Process
(B). Project
(C). Scope
(D). All of the above
Answer: (B)

Q4. The project life cycle consists of
(A). Understanding the scope of the project
(B). Objectives of the project
(C). Formulation and planning various activities
(D). All of the above
Answer: (D)

Q5. Following is(are) the responsibility(ies) of the project manager.
(A). Budgeting and cost control
(B). Allocating resources
(C). Tracking project expenditure
(D). All of the above
Answer: (D)

Q6. Following are the phases of Project Management Life Cycle. Arrange them in correct order Design, 2. Marketing, 3. Analysis and evaluation, 4. Inspection, testing and delivery
(A). 3-2-1-4
(B). 1-2-3-4
(C). 2-3-1-4
(D). 4-3-2-1
Answer: (A)

Q7. Design phase consist of
(A). Input received
(B). Output received
(C). Both (A). and (B)
(D). None of the above
Answer: (C)

Q8. Project performance consists of
(A). Time
(B). Cost
(C). Quality
(D). All of the above
Answer: (D)

Q9. Five dimensions that must be managed on a project
(A). Constraint, Quality, Cost, Schedule, Staff
(B). Features, Quality, Cost, Schedule, Staff
(C). Features, priority, Cost, Schedule, Staff
(D). Features, Quality, Cost, Schedule, customer
Answer: (B)

Q10. Resorce requirement in project becomes constant while the project is in its _____ progress stage.
(A). 40 to 55%
(B). 55 to 70%
(C). 70 to 80%
(D). 80 to 95%
Answer: (D)

Q11. One of the initial project documents, issued by senior management, which outlines the authority of the project manager, is called Project charter. As a seller, what other document can be used in this place:
(A). Work breakdown structure
(B). Project scope
(C). Contract
(D). Internal memo
Answer: (C)

Q12 During the planning development process, at times it is necessary to make certain assumptions to enhance the p roject plan, when the data is not available. In regard to making those assumptions, which one of the following is most true for project planning purposes?
(A). The assumptions will be considered as true, real, or certain.
(B). By making the assumption, it tends to reduce the project risk.
(C). Project assumptions are based upon historical data used for the project.
(D). Senior management predefines the budget constraints.
Answer: (A)

Q13. A project planning methodology is any structured approach used to guide the project team during development of the project plan. What is an example of this methodology?
(A). Standard forms or templates.
(B). Upper management involvement
(C). Functional work authorizations
(D). Stakeholders skills
Answer: (A)

Q14. The engineer of the project in the planning phase and makes a significant contribution to the technical scope. This is an example of what type of skill and knowledge?
(A). Inherent
(B). Stakeholder
(C). Technical evaluation
(D). Convergent thinking
Answer: (B)

Q15. In a program or project plan, there are always revisions to account for new or missing data. Which one of the following provides the best reason for performing a revision of the plan?
(A). A supplier has changed the way their product is delivered to your supplier
(B). Project tasks are crashed to meet their end dates
(C). Human resources will remain constant through out the project
(D). Historical data on a similar project suggests that risk events are not included in the current plan.
Answer: (B)

Q16. The project closing process is essential to overall project planning. What is considered one of the most important steps in closing the project?
(A). 1. Insuring that plans are produced to implement the project by phases.
(B). 2. Issuing work orders so that financial data can be collected.
(C). 3. Transition the lease of equipment to the owner
(D). 4. Satisfying the contractual obligations
Answer: (D)

Q17. Each project phase is marked by completion of one or more:
(A). Tasks.
(B). Milestones
(C). Deliverables
(D). Life cycles
Answer: (C)

Q18. The Scope Statement should contain which of the following?
(A). Project schedule
(B). Project budget constraints
(C). Summary of project tasks , deliverables and resources required
(D). Project objectives
Answer: (D)

Q19. The Scope Management Plan is included in which of the following documents.
(A). Project Plan
(B). The Work Breakdown Structure
(C). The Scope Statement
(D). Project Specifications
Answer: (C)

Q20. Milestones established by the customer must be adhered to by:
(A). Project manager
(B). Functional managers
(C). The customer
(D). Both a and b
Answer: (D)

Q21. The decision to request an increase the resources for a project is the responsibility of the:
(A). Functional manager
(B). Project manager
(C). Director of project management
(D). Customer
Answer: (B)

Q22. The decision to request an increase the resources for a project is the responsibility of the:
(A). Functional manager
(B). Project manager
(C). Director of project management
(D). Customer
Answer: (B)

Q23. In which of the following project phases is the project schedule developed?
(A). Conceptual
(B). Planning
(C). Implementation
(D). Design
Answer: (B)

Q24. To crash a schedule you should:
(A). Increase the time allowed on those tasks that have float.
(B). Try to increase expenditures of time only those tasks that are behind schedule.
(C). Replace those worker that are not performing up to par with the busy.
(D). Increase work efforts on those tasks that are on the critical path.
Answer: (D)

Q25. Which of the following is NOT one of the primary needs for good project scheduling?
(A). Cutting costs and reducing time
(B). Decreasing the time required for decision making
(C). Eliminating idle time
(D). Developing better trouble shooting procedures.
Answer: (D)

Q26. The time necessary to complete a project is referred to as:
(A). Implementation time
(B). Life cycle
(C). Operations cycle
(D). Production cycle
Answer: (B)

Q27. The successful project managers spend most of their time:
(A). Planning with their personnel
(B). Planning with the top management
(C). Communication with the project team
(D). Studying project results
Answer: (C)

Q28. A prerequisite of effective time management is:
(A). Knowing the dictated project completion date
(B). Having the most advanced software package for project planning, scheduling and control
(C). Having a good project WBS which identifies the major project deliverables and tasks, and the person responsible for each of them
(D). Having a well staffed scheduling department
Answer: (A)

Q29. Which type of project cost estimate is the most accurate?
(A). Preliminary
(B). Definitive
(C). Order of magnitude
(D). Conceptual
Answer: (B)

Q30. Cost budgeting can be best described by which of the following?
(A). The process of developing the future trends along with the assessment of probabilities, uncertainties, and inflation that could occur during the project
(B). The process of assembling and predicting costs of a project over its life cycle
(C). The process of establishing budgets, standards, and a monitoring system by which the investment cost of the project can be measured and managed
(D). The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on-going basis
Answer: (C)

31. Which of the following is a direct project cost?
(A). Lighting and heating for the corporate office
(B). Workers Compensation insurance
(C). Piping for an irrigation project
(D). A and B
Answer: (C)

32. Life Cycle Costing is a term that is:
(A). used when making decisions between alternatives
(B). employed principally by the government
(C). typically used in the construction industry
(D). not used within the government
(E). A and B
Answer: (E)

33. Measured quality of a manufactured product is :
(A). Always constant
(B). Continually decreasing
(C). Subject to a certain amount of variation
(D). Continually increasing
Answer: (C)

Q34. Which of the following is the most efficient means of product quality inspection?
(A). Acceptance sampling
(B). 100% inspection
(C). Variable sampling
(D). A and C
Answer: (C)

35. The primary components of the quality management function are :
(A). quality planning
(B). quality control and assurance
(C). quantitative measurement
(D). quantitative assessment of the project
(E). A and B
Answer: (E)

36. Which of the following has the greatest effect on product’s reliability and maintenance characteristic?
(A). conceptualization
(B). product design
(C). fabrication
(D). a and b
Answer: (D)