Project Management
Exam Practice Tests
Course Introduction
Project Management introduces students to the fundamental principles, methodologies, and tools necessary for successfully planning, executing, monitoring, and closing projects across various industries. The course covers essential topics such as project life cycles, scope management, scheduling, budgeting, risk analysis, quality control, and stakeholder communication. Students will learn to apply project management frameworks like Waterfall and Agile, develop project documentation, and utilize software tools to enhance efficiency. Through case studies and practical exercises, students gain hands-on experience in leading teams, resolving conflicts, and delivering projects on time and within budget while meeting organizational objectives.
Recommended Textbook
Introduction to Management Science A Modeling and Case Studies 5th Edition by Hillier
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Chapter 1: Introduction
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Sample Questions
Q1) A management science team will try to conduct a systematic investigation of a problem that includes careful data gathering,developing and testing hypotheses,and then applying sound logic in the analysis
A)True
B)False
Answer: True
Q2) Which of the following are components of a mathematical model for decision making?
A)Decision variables
B)An objective function
C)Constraints
D)Parameters
E)All of the above
Answer: E
Q3) A cost that varies with the production volume would be a fixed cost
A)True
B)False
Answer: False
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Chapter 2: Linear programming: Basic Concepts
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Sample Questions
Q1) Which of the following is not a feasible solution?
A)(D,T)= (0,0)
B)(D,T)= (0,250)
C)(D,T)= (150,0)
D)(D,T)= (90,100)
E)(D,T)= (0,200)
Answer: B
Q2) A feasible solution is one that satisfies all the constraints of a linear programming problem simultaneously
A)True
B)False
Answer: True
Q3) When formulating a linear programming problem on a spreadsheet,objective cells will show the levels of activities for the decisions being made
A)True
B)False
Answer: False
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Chapter 3: Linear programming: Formulation and applications
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Sample Questions
Q1) A resource constraint refers to any functional constraint with a sign in a linear programming model
A)True
B)False
Answer: False
Q2) Generally,assignment problems match people to an equal number of tasks at a minimum cost
A)True
B)False
Answer: True
Q3) Cost-benefit tradeoff problems have the following type of constraints: A) B)
C)=
D)<
E)None of the above
Answer: A
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Chapter 4: Theart of modeling with spread sheets
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Sample Questions
Q1) Which of the following should be entered first when building a spreadsheet model?
A)The objective cell
B)The data cells
C)The changing cells
D)The output cells
E)The Solver parameters
Q2) The Plan-Build-Test-Analyze process should always be followed step-by-step,from beginning to end: Plan then Build then Test then Analyze
A)True
B)False
Q3) An absolute reference does not change when it is filled or copied into other cells
A)True
B)False
Q4) Colors and shading should be avoided on a spreadsheet because it distracts from the model
A)True
B)False
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Chapter 5: What-If Analysis for linear programming
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Sample Questions
Q1) If the coefficient for Activity 3 in the objective function changes to $30,then the objective function value:
A)will increase by $70
B)is $0
C)will increase by $30
D)will remain the same
E)will increase by an unknown amount
Q2) A parameter analysis report can be used to easily investigate the changes in any number of data cells
A)True
B)False
Q3) When maximizing profit in a linear programming problem,the allowable increase and allowable decrease columns in the sensitivity report make it possible to find the range over which the profitability does not change
A)True
B)False
Q4) It is usually quite easy to find the needed data for a linear programming study
A)True
B)False
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Chapter 6: Network optimization problems
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Sample Questions
Q1) The network simplex method can aid managers in conducting what-if analysis
A)True
B)False
Q2) The model for any minimum cost flow problem is represented by a network with flow passing through it
A)True
B)False
Q3) As long as all its supplies and demands have integer values,any minimum cost flow problem is guaranteed to have an optimal solution with integer values
A)True
B)False
Q4) A minimum cost flow problem will have feasible solutions as long as there is a balance between the total supply from the supply nodes and the total demand at the demand nodes
A)True
B)False
Q5) In a shortest path problem there are no arcs permitted,only links
A)True
B)False
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Chapter 7: Using binary integer programming to deal withy
es-Or-No decisions
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Sample Questions
Q1) In a BIP problem,1 corresponds to a yes decision and 0 to a no decision If there are two projects under consideration,A and B,and either both projects will be undertaken or no project will be undertaken,then the following constraint needs to be added to the formulation:
A)A B
B)A + B 2
C)A B
D)A = B
E)None of the above
Q2) Which of the following techniques or tools can be used to perform sensitivity analysis for an integer programming problem?
A)The sensitivity report
B)Trial-and-error
C)A parameter analysis report
D)All of the above
E)b and c only
Q3) Binary variables are variables whose only possible values are 0 or 1
A)True
B)False
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Chapter 8: Non linear programming
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Sample Questions
Q1) When applying nonlinear programming to portfolio selection,a trade-off is being made between the expected return and the risk associated with the investment
A)True B)False
Q2) It now is common practice for professional managers of large stock portfolios to use computer models based partially on separable programming
A)True B)False
Q3) A quadratic programming problem is a special type of linear programming problem
A)True B)False
Q4) The multistart feature in Solver can be used for nonlinear programming problems to systematically try a number of different starting points
A)True B)False
Q5) If C1 is a changing cell,then ROUND(C1)is a linear function A)True B)False
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Chapter 9: Decision Analysis
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Sample Questions
Q1) Given that the research is done,what is the joint probability that the state of nature is S1 and the research predicts S2?
A)0 08
B)0 16
C)0 24
D)0 32
E)0 36
Q2) A decision tree branches out all of the possible decisions and all of the possible events
A)True
B)False
Q3) If he uses the maximum likelihood criterion,which kind of dwellings will he decide to build?
A)Single family
B)Apartments
C)Condos
D)Either single family or apartments
E)Either apartments or condos
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Chapter 10: Forecasting
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Sample Questions
Q1) Given the following historical data,what is the moving-average forecast for period 6 based on the last three periods?
A)17
B)18
C)19
D)20
E)18 5
Q2) Exponential smoothing with trend was designed for time-series that have great variability both up and down
A)True
B)False
Q3) In business,forecasts are the basis for:
A)sales planning
B)inventory planning
C)production planning
D)budgeting
E)All of the above
Q4) The averaging method uses all the data points in the time-series
A)True
B)False
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Chapter 11: Queuing models
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Sample Questions
Q1) What is the average number of high priority items waiting in line for service?
A)0
B)0 24
C)1 74
D)1 98
E)2 22
Q2) In a preemptive priority system,the lowest-priority customer being served is ejected back into the queue whenever a higher-priority customer enters the queueing system
A)True
B)False
Q3) What is the minimum number of servers needed to keep the average time in the system under 6 minutes?
A)2
B)3
C)4
D)5
E)6
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Chapter 12: Computer simulation: Basic Concepts
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Sample Questions
Q1) Managers can use simulation to obtain optimal answers for a wide range of problems
A)True
B)False
Q2) Which of the following can be used for computer simulation?
A)Spreadsheets
B)Programming languages
C)Simulation languages
D)Simulators
E)All of the above
Q3) A parameter analysis report is used to generate many replications of a computer simulation
A)True
B)False
Q4) A Data Table can be used to "trick" Excel to perform many replications of a computer simulation
A)True
B)False
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Chapter 13: Computer simulation with risks olver platform
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Sample Questions
Q1) RSPE can be used to fit a continuous distribution to data
A)True
B)False
Q2) The RSPE Solver can be used to simultaneously optimize up to how many decision variables?
A)1
B)2
C)3
D)4
E)Many decision variables can be optimized simultaneously
Q3) Which of the following is a random input cell in RSPE?
A)An uncertain variable cell
B)A decision variable
C)A results cell
D)A statistic cell
E)None of the above
Q4) A trend chart shows the trend in profit values from trial to trial
A)True
B)False
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Chapter 14: Solution concepts for linear programming
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Sample Questions
Q1) The simplex method is which kind of algorithm?
A)iterative
B)repetitive
C)systematic
D)All of the above
E)None of the above
Q2) In a linear programming problem,when the objective function is parallel to one of the constraints,then:
A)the solution is not optimal
B)multiple optimal solutions may exist
C)a single corner point optimal solution exists
D)no feasible solution exists
E)None of the above
Q3) Interior-point algorithms:
A)are far more complicated than the simplex method
B)require more computation time per iteration that the simplex method
C)tend to be much faster than the simplex method for huge problems
D)All of the above
E)a and b only
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Chapter 15: Transportation and assignment problems
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Q1) Applications of assignment problems may include:
A)matching personnel to jobs
B)assigning machines to tasks
C)designing bussing routes
D)a and b only
E)All of the above
Q2) In a pure assignment problem,more than one person can be assigned to a specific task
A)True
B)False
Q3) Network representation provides a way of visualizing an assignment problem graphically
A)True
B)False
Q4) When the number of people and the number of tasks are not equal in an assignment problem then the problem cannot be solved
A)True
B)False
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Chapter 16: Pert CPM models for project management
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Sample Questions
Q1) What is the estimated mean time for project completion?
A)135 days
B)145 days
C)170 days
D)180 days
E)255 days
Q2) What is the estimated mean time for project completion?
A)100 days
B)140 days
C)199 days
D)200 days
E)440 days
Q3) The mean critical path is the path through the project network that would be the critical path if the duration of each activity equals its mean
A)True
B)False
Q4) The activities with the longest durations in a project network are called critical activities
A)True
B)False
Page 18
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Chapter 17: Goal programming
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Sample Questions
Q1) Goal programming provides a way of striving toward several objectives simultaneously
A)True B)False
Q2) In goal programming,constraints are used to assure that every goal is met A)True B)False
Q3) Preemptive goal programming is more appropriate the weighted goal programming when there are major differences in the importance of the goals A)True B)False
Q4) Preemptive goal programming strives to achieve all of the goals simultaneously A)True B)False
Q5) Weighted goal programming provides a way of striving toward several objectives simultaneously A)True B)False
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Chapter 18: Inventory management with known demand
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Sample Questions
Q1) Which of the following are part of a MRP system?
A)Production schedule
B)Bill of materials
C)Inventory status records
D)All of the above
E)None of the above
Q2) Which of the following is not an assumption of the EOQ model with planned shortages?
A)Demand is constant
B)Each order is received all at once
C)Orders are received just when desired
D)When a shortage occurs,customers are lost
E)All are assumptions
Q3) In the basic EOQ model,annual holding cost is one-half of the total annual cost
A)True
B)False
Q4) Inspection of goods for quality and quantity upon arrival is part of setup costs
A)True
B)False
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Chapter 19: Inventory management with uncertain demand
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Q1) The goal of the perishable product model is to identify the order quantity that will minimize the shortage costs
A)True
B)False
Q2) The overall objective of inventory management is to achieve satisfactory levels of customer service while keeping inventory costs reasonable A)True
B)False
Q3) The perishable product model can be very helpful in determining when to order A)True
B)False
Q4) In the ABC control method,items that have high unit costs are always classified as A items
A)True B)False
Q5) The choice of the distribution to use as the demand distribution has little effect on the reorder point
A)True B)False
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Chapter 20: Computer simulation with crystal ball
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Sample Questions
Q1) The negative binomial distribution describes the number of trials until an event occurs n times
A)True
B)False
Q2) Crystal Ball can be used to fit a continuous distribution to data
A)True
B)False
Q3) A distribution is chosen from the Distribution Gallery for which type of cell?
A)An assumption cell
B)A decision variable
C)A forecast cell
D)An output cell
E)None of the above
Q4) The Decision Table tool in Crystal Ball can be used to systematically investigate a set of values for a decision variable in a simulation model
A)True
B)False
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