Business Planning and Project Management MCQ

Business Planning and Project Management MCQ

Business plan mcqs with answers pdf. Business Planning and Project Management MCQ pdf. Project Management Multiple Choice Questions and Answers for MBA, BBA.

Are you a business professional looking for MCQs related to Business Planning and Project Management? Then you have come to the right place!

Here we will provide you with a range of questions and answers that can help you test your knowledge on these important topics. Whether you are preparing for an upcoming exam or brushing up on your skills, this article has something for everyone.

With our detailed analysis, examples and tips you can be sure to ace any test related to Business Planning and Project Management.

Business Planning

What is Business Planning and Project Management

Business Planning and Project Management are two essential concepts that every business owner should understand. Business planning is the process of setting goals, formulating strategies, and creating a roadmap to achieve success.

It involves analyzing market trends, identifying potential risks, and developing contingency plans to mitigate them. By creating a comprehensive business plan, entrepreneurs can effectively communicate their vision to investors, stakeholders and employees.

Project management is the process of planning, organizing, leading and controlling resources (human or material) in order to achieve specific goals within a defined time frame.

It involves breaking down complex projects into manageable tasks, assigning responsibilities to team members and tracking progress along the way. Effective project management ensures that projects are completed on time and within budget while maximizing efficiency and quality.

Both business planning and project management are essential for achieving success in any business venture.

A Project Management Information System consists of the followings

A Project Management Information System (PMIS) is a system composed of the tools and techniques used to manage projects.

It consists of processes, methods, databases, software, and hardware that help project managers plan, execute, monitor and control the various aspects of their projects.

It also includes communication networks that provide access to necessary information for all stakeholders involved in the project.

By utilizing a PMIS, project managers can effectively track progress, identify risks and opportunities, streamline communications and ultimately optimize project performance.

Business Planning and Project Management MCQs

Q1. The project manager conducts the analysis of the problem & submits the report to the ___.
a. Top Management
b. Lower Management
c. Middle Management
d. All of the Above

Answer: (a)

Q2. The Staff performance has to be evaluated ___.
a. Marketing phase
b. Design Phase
c. Testing Phase
d. Post-completion analysis phase

Answer: (d)

Q3. The project management process is defined by the ___. It describes & organizes the work of the project.
a. Customer
b. Organization
c. Project
d. None of the above

Answer: (b)

Q4. A workable scheme is maintained to accomplish the business need in ___.
a. Executive Process
b. Controlling process
c. Planning Process
d. Initiative process

Answer: (c)

Q5. Controlling process controls ___.
a. Time
b. Cost
c. Quality
d. All of the Above

Answer: (d)

Q6. A team negotiates for ___
a. Scope cost & schedule objectives
b. Changes to scope, cost, or schedule
c. Contract terms & conditions, resources
d. All of the Above

Answer: (d)

Q7. If you add staff, the schedule may shorten & costs will increase.
a. True
b. False

Answer: (a)

Q8. The ___ is a useful tool in project management to compare the relative flexibility of the parameters considered.
a. Kiviat graph
b. Pert Chart
c. All of the above
d. None of the above

Answer: (a)

Q9. The project will go through for preparation, which constitutes formulation & modeling, Planning, control, execution, monitoring, completion & review.
a. Statement is correct
b. Statement incorrect

Answer: (a)

Q10. In the ___ stage, the project manager along with the team members draft the outline of the project.
a. Initial stage
b. Final stage
c. Preparation stage
d. None of the above

Answer: (c)

Q11. We need to monitor each project as such and make a program to manage them as a group to take the ___ and be prepared to manage diversity is called ___
a. All are valid
b. Disadvantages, P3M
c. Advantages, P3M
d. Advantages, P2M

Answer: (d)

Q12. Resource requirement increases at the rapid rate of becoming constant while the project is during its 80% to 95% progress stage ___.
a. True
b. False

Answer: (a)

Q13. The scope of Project planning includes the identification of key areas from the client through ___.
a. Meetings
b. Discussion
c. Interviews
d. All of the above

Answer: (d)

Q14. The review process is not training plan-oriented.
a. True
b. False

Answer: (b)

Q15. Prepare a checklist of items to be monitored & control during the course of execution of projects in ___.
a. Identification process
b. Review process
c. Analysis Process
d. None of the above

Answer: (b)

Q16. Five conditions imposed on every project are.
a. Scope, Quantity, Time, Cost, Resources
b. Quality, Scope, Time, Cost, Resources
c. Quality, Scope, Time, Cost, Quantity
d. None of the above

Answer: (b)

Q17. The Key Personnel for each area and list them in the person column of the project ___
a. Datalist
b. Worksheet
c. Project assignment worksheet
d. Assignment

Answer: (c)

Q18. Individuals assigned to a key resource role may work towards gathering “Business key resources” & technical key resources they are projecting.
a. Coordinators & team invitees
b. Team leader
c. Project manager
d. All are correct

Answer: (a)

Q19. ___ is produced by identifying the key elements breaking each element down into component parts & continuing to break down until manageable.
a. Responsibility chart
b. Checklist
c. WBS
d. Team

Answer: (c)

Qs 20. WBS does not show dependencies.
a. True
b. False

Answer: (a)

Q21. ___ Involves the identification of the possible risks and assesses the consequences by means of a checklist of possible risks, surveys, meetings brainstorming, and reviews of plans, processes, and products.
a. Risk Assessment
b. Risk Control
c. Risk Ranking
d. Risk Mitigation

Answer: (a)

Q22. Reviews, Findings, and analysis of the project performance are done during
a. Planning Processes
b. Executing Processes
c. Controlling Processes
d. Closing Process

Answer: (d)

Q23. ___ Specify the objective, products, logistics, roles, responsibilities, and time frame.
a. Review
b. Quality
c. Agenda for quality review
d. Schedule quality review

Answer: (c)

Q24. To check the deviation from the baseline during the Re-Plan stage schedule ___ is used.
a. Gantt Chart
b. Cost workbook
c. All of the above
d. None of the above

Answer: (c)

Q25. To identify the Alternate solutions evaluate the change request with respect to the.
a. Functional scope
b. Schedule
c. Effort and cost
d. All of the above

Answer: (d)

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