📊 IT4306 IT Project Management (2024)
UCSC BIT | MCQ Solutions with Simple Theory & Examples
Knowledge Areas of Project Management
Theory: PMBOK defines 10 Knowledge Areas. Cost, Communication, and Stakeholder Management are valid areas. "Shareholder" and "Total Quality" are incorrect terms in PMBOK.
Project Portfolio Management
Theory: Portfolio management focuses on strategy. It asks: "Are we investing in the right areas?" and "Are we working on the right projects?" (Not about executing a single project well).
Leadership Style
Theory: Charismatic leadership inspires others based on enthusiasm, confidence, and a strong personality. (Transactional uses rewards/punishments; Laissez-faire uses minimal supervision).
Advantages of Good PM
Theory: Good PM leads to higher profit margins, higher workforce morale, and shorter development times. It does not lower profit margins or directly affect the cost of capital.
Three-Sphere Model
Theory: Every IT project must balance three spheres: Business (goals/profit), Organization (people/culture), and Technology (hardware/software).
Human Resource Frame
Theory: The HR Frame focuses on people's needs, skills, relationships, and empowerment. (Political = power/conflict; Structural = roles/hierarchy; Symbolic = culture/rituals).
Four Frames: Culture & Politics
Theory: The Political Frame deals with internal politics, power, and conflict. The Symbolic Frame deals with culture, values, and rituals.
Functional Organization
Theory: In a Functional structure, employees are grouped by specialized functions (e.g., HR Dept, IT Dept, Finance Dept).
Matrix Organization
Theory: The key characteristic of a Matrix structure is dual reporting — employees report to both a functional manager and a project manager.
Product Lifecycle
Theory: An Incremental lifecycle is used when there is a low degree of change in requirements but a high frequency of delivery (delivering in small usable chunks).
Outsourcing vs Offshoring
Theory: Outsourcing = hiring a third-party (local or foreign). Offshoring = moving work to another country. Hiring a US company is both outsourcing and offshoring. Hiring a local Colombo company is only outsourcing.
Scrum Elements
Theory: Scrum includes Daily Stand-ups (events), Product Owner (roles), and Sprint Backlog (artifacts). Gantt charts and Waterfall belong to traditional PM.
Six Sigma Methodology
Theory: Six Sigma aims to reduce defects/variation, uses statistical tools, and follows the DMAIC cycle (Define, Measure, Analyze, Improve, Control). It applies to all industries, not just manufacturing.
Net Present Value (NPV)
Theory: NPV = Total PV of Inflows - Initial Investment. Here, 500k - 500k = 0. Therefore, NPV is zero, and the Present Value of inflows equals the Initial Investment.
Return on Investment (ROI)
Theory: ROI = (Net Profit / Investment) × 100.
ROI = (400,000 / 2,000,000) × 100 = 20%.
Project X vs Project Y
Theory: Project X has higher cash inflows (1.2M vs 1M) for the same investment. Therefore, Project X will have a higher NPV and higher ROI.
Scope Management Processes
Theory: Scope Management includes: Collect Requirements, Define Scope, Create WBS, Validate Scope, and Control Scope. Designing software architecture belongs to technical design, not PM scope.
Work Breakdown Structure (WBS)
Theory: WBS breaks down work into packages, ensures clear responsibility, and helps estimate costs/time. It does not primarily monitor risks or include detailed schedules.
Gantt Charts
Theory: Gantt charts identify delays, display tasks on a timeline, and visualize overlaps. They do not estimate costs or automatically show the critical path by default.
Slipped Milestone
Theory: A slipped milestone means it was not completed on its planned date. It can signal schedule delays for dependent tasks, meaning corrective action (like crashing/fast-tracking) may be needed.
NOT part of SMART
Theory: SMART = Specific, Measurable, Achievable, Realistic, Time-framed. Asserted and Specification are NOT part of SMART.
Shortening Project Duration (CPA)
Theory: You can shorten duration by adding developers (Crashing), overlapping tasks (Fast Tracking), delaying non-critical tasks to free resources, or reducing scope. Increasing marketing budget does not help.
Stakeholder Analysis Outputs
Theory: Outputs include categorizing stakeholders, identifying communication requirements, and assessing their interest and influence levels. (Task schedules and resource lists belong elsewhere).
Stakeholder Register
Theory: The Register includes classification, name/contact details, and interest, influence, and impact. (Risk response plans belong to the Risk Register).
Point of Total Assumption (PTA)
Theory: In a Fixed-Price Incentive Fee contract, PTA is the maximum cost the buyer pays before the contractor bears 100% of all extra cost overruns (reaching the price ceiling).
Complete Answer Key (Q1–Q25)
| Q | Answer | Key Concept |
|---|---|---|
| 1 | A, B, D | PMBOK Knowledge Areas |
| 2 | B, C | Portfolio Management Strategy |
| 3 | A | Charismatic Leadership |
| 4 | C, D, E | Benefits of Good PM |
| 5 | A, C, D | Three-Sphere Model |
| 6 | D | Human Resource Frame |
| 7 | C, E | Political & Symbolic Frames |
| 8 | E | Functional Organization |
| 9 | B | Matrix (Dual Reporting) |
| 10 | C | Incremental Lifecycle |
| 11 | A, D, E | Outsourcing vs Offshoring |
| 12 | A, C, D | Scrum Framework |
| 13 | A, C, D | Six Sigma & DMAIC |
| 14 | B, E | NPV = 0 (Break-even) |
| 15 | C | ROI = 20% |
| 16 | B | Higher NPV for Project X |
| 17 | A, B, C, E | Scope Management Processes |
| 18 | A, B, C | Work Breakdown Structure |
| 19 | A, C, D | Gantt Chart Features |
| 20 | A, B, E | Slipped Milestone |
| 21 | A, D | NOT SMART Criteria |
| 22 | A, B, D, E | Critical Path Compression |
| 23 | A, C, D | Stakeholder Analysis |
| 24 | A, C, E | Stakeholder Register |
| 25 | A | Point of Total Assumption |
🎯 Exam Tips
- PMBOK 10 Areas: Memorize them! (Integration, Scope, Schedule, Cost, Quality, Resource, Communications, Risk, Procurement, Stakeholder).
- Three-Sphere Model: Business, Organization, Technology.
- Four Frames: Structural (rules), HR (people), Political (power), Symbolic (culture).
- Matrix Org: Always remember "Dual Reporting" (2 bosses).
- Financial Formulas: NPV = Inflows - Investment. ROI = (Profit / Investment) × 100.
- Schedule Compression: Crashing (add resources) vs Fast Tracking (overlap tasks).
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