Question 25 Programs are managed primarily through a·The Triple Constraint b. Pr

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Question 25 Programs are managed primarily through a·The Triple Constraint b. Project Managers c. PMI PMBOK's Guide d. The Program Performance Domains Question 26 Program management is the: a. Management of a project whose work is spread out at multiple locations b. De-centralized management of a program to complete the projects in the program in the minimum possible time. strategic c. Centralized coordinated management of multiple related projects to achieve benefits and objectives of the program d. Collective distributed management of multiple projects Question 27 Which of the following statements is true about megaprojects? a. They take at least ten years to complete b. The life cycle is very easy to define c. The planning stage of a megaproject is always very short d. Megaprojects require innovation in contracting and procurement e. None of the above f. All of the above Question 28 Portfolio Management should be used to provide suggested changes to the organization's strategic plan True False

Explanation / Answer

1.Programs are managed primarily through the triple constraint. The Triple constraints include the three constraints under which projects are carried out. The three constraints are cost, time and scope. These three constraints are very important for managing programs.

Hence the answer is option a. The Triple Constraint

2. Program management involves the centralized management of several related projects and helps to improve the performance of the organization. It helps to obtain the benefits of the projects that cannot be achieved independently.

Hence answer is option c, centralized coordinated management of multiple related projects to achieve strategic benefits and objectives of the program.

3. Mega projects are large scale complex ventures that involve public and private stake holders and take many years to complete. The minimum years depends on the type of project and not limited to 10 years. The project life cycle changes frequently and hence it is not easy to define. The planning stage is very long. The innovation in contracting and procurement has helped megaprojects and the suppliers and sub contractors contribute a lot in innovation to achieve the final product.

Hence the answer is option d, Mega projects require innovation in contracting and procurement

4. Portfolio management involves making decisions regarding investment mix and policies, asset allocation, risk management based on performance for organizations which are important while making strategies. Hence it should be used to provide suggested changes to organization’s strategic plan.

Hence answer is True

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