1 Portfolio management is a business strategy in which organ

1. Portfolio management is a business strategy in which organizations view projects and programs as a portfolio of investments. Portfolio managers select projects with a strategic perspective. Three of the following questions are asked by program or project managers whereas one of them is asked by portfolio managers. Which of the following questions is the one asked by portfolio managers?

  a. What resources do we need to compete in the marketplace?

b. Do we have the resources to complete the projects?

c. Are the projects meeting their time goals?

d. How are the stakeholders feeling about the progress of the projects?

2. Project managers can become more successful when they develop their understanding of organizations. Any organization can be viewed as having four different frames: structural, human resources, political, and symbolic. Which frame will help the project manager identify the branch manager at a specific location?

a. Symbolic

b. Political

c. Structural

d. Human resources

3. A systems development life cycle (SDLC) is a framework for describing the phases of developing information systems. Many models of SDLC are available and the most suitable model can be selected based on the demands of the situation. Which one of the following is true for the waterfall life cycle model?

a. Suitable for projects when changes must be restricted

b. Suitable for projects that change the nature of doing things

c. Suitable when changes can be made with reasonable cost increases

  d. Suitable for progressive development of operational software

4. IT projects can be complex and costly. By breaking these projects into phases, top management can review to determine if they should be continued, redirected or terminated. These management reviews are called phase exits or kills points. What is not part of the evaluation by management during these reviews?

a. Compatibility with organizational goals

b. Tools and technologies

c. Potential for success

d. Progress made in the project

5. Project management knowledge areas describe the key competencies that project managers must develop. Which one of the following is not among the 10 project management knowledge areas?

a. Environment management

b. Cost management

  c. Human resource management

d. Stakeholder management

Solution

1. As the portfolio manager treats a project as an investment, he will be more concerned about the the resources that will be requuired to complete the portfoilo. Hence the answer is \"b\" Do we have the resources to complete the projects?

2. The answer is option \"d\" - human resources. This framework consists of communities of people who need each other.

3. The waterfall model is a sequential design process, used in software development processes, in which progress is seen as flowing steadily downwards (like a waterfall) through the phases of conception, initiation, analysis, design, construction, testing, production/implementation and maintenance.

This model is used in highly structured physical environments in which after-the-fact changes are prohibitively costly, if not impossible. Thus answer is option \"a\" - where changes are restricted.

4. Stage exits or kill points involves review of key deliverables and project performance to date. Compatibility with organizational goals is not part of the evaluation by management during these reviews. Hence answer is option \"a\".

5. answer is option \"a\" - environment management. the 10 knowledge areas are time management, cost management, scope management, quality management, risk management, communications management, integration management and procurement management.