Question 1

Which of the following is a numeric project selection method?

Accepted Answer

A)  comparative benefits 
B)  payback period 
C)  Q-sort method 
D)  operating/competitive necessity 
E)  sacred cow 
A)  comparative benefits 
B)  payback period 
C)  Q-sort method 
D)  operating/competitive necessity 
E)  sacred cow B

Question 2

Ultor is a media company that specializes in creating print advertisements for local businesses. Lately, it has been undertaking requests for multimedia projects that are new to it. In this scenario, Ultor is most likely accepting _____.

Accepted Answer

A)  derivative projects 
B)  R&D projects 
C)  platform projects 
D)  breakthrough projects 
E)  sacred cow projects 
A)  derivative projects 
B)  R&D projects 
C)  platform projects 
D)  breakthrough projects 
E)  sacred cow projects C

Question 3

Projects are subdivisions of programs.

Accepted Answer

A) True 
 B)False  True

Question 4

Which of the following is an example of win-lose negotiation?

Accepted Answer

A)  Buying a car from a second-hand car dealership at the asking price. 
B)  Discussing a problem with all parties concerned and finding a middle ground 
C)  Carrying on an argument over a petty issue that can be easily resolved 
D)  Agreeing to share resources for the benefit of all involved in different projects 
E)  Disagreeing with a project idea while not providing an alternative 
A)  Buying a car from a second-hand car dealership at the asking price. 
B)  Discussing a problem with all parties concerned and finding a middle ground 
C)  Carrying on an argument over a petty issue that can be easily resolved 
D)  Agreeing to share resources for the benefit of all involved in different projects 
E)  Disagreeing with a project idea while not providing an alternative

Question 5

In project management, superior-subordinate relationships are known and lines of authority are clear.

Accepted Answer

A) True 
 B)False

Question 6

One limitation of scoring methods is that they can only incorporate quantitative data.

Accepted Answer

A) True 
 B)False

Question 7

Briefly highlight the difference between win-win and win-lose negotiation strategies.

Accepted Answer

In win-win negotiation, both parties mus

Question 8

Scoring methods were developed to overcome some of the disadvantages of simple financial profitability methods.

Accepted Answer

A) True 
 B)False

Question 9

Briefly describe the two different life cycles of projects.

Accepted Answer

A house-building project starts slowly w

Question 10

Ouroboros Construction started the construction of a house for a client. The initial planning of the project took longer than expected. Once plans were finalized, it did not take long to erect the structure, and it was done much before schedule. However, it took a lot of time to give the finishing touches to the house, and it was a long time before the house was completed. The project in this scenario has a(n) _____.

Accepted Answer

A)  J-shaped life cycle 
B)  X-shaped life cycle 
C)  S-shaped life cycle 
D)  L-shaped life cycle 
E)  O-shaped life cycle 
A)  J-shaped life cycle 
B)  X-shaped life cycle 
C)  S-shaped life cycle 
D)  L-shaped life cycle 
E)  O-shaped life cycle

Question 11

One of the few similarities between project management and general management is that both exist in the well-defined organizational structure of superior/subordinates in the overall organization.

Accepted Answer

A) True 
 B)False

Question 12

The main distinction between platform and derivative projects is that the latter depend on existing technology.

Accepted Answer

A) True 
 B)False

Question 13

Projects with deliverables that are incrementally different from existing offerings are classified as platform projects.

Accepted Answer

A) True 
 B)False

Question 14

Briefly explain the advantages of using scoring models to evaluate and select projects rather than using financial models.

Accepted Answer

Financial assessment methods of project

Question 15

One reason for the emphasis on project management is that tasks fit neatly into business-as-usual.

Accepted Answer

A) True 
 B)False

Question 16

Project budgets are primarily modifications of budgets for the same activity in the previous period.

Accepted Answer

A) True 
 B)False

Question 17

When using the weighted scoring model, the categories for each scale must be in equal intervals.

Accepted Answer

A) True 
 B)False

Question 18

The ________________________ attempts to link the organization's projects directly to the goals and strategy of the organization.

Accepted Answer

A)  the product-process matrix 
B)  the balanced scorecard 
C)  the action plan 
D)  project portfolio process 
E)  the work breakdown structure 
A)  the product-process matrix 
B)  the balanced scorecard 
C)  the action plan 
D)  project portfolio process 
E)  the work breakdown structure

Question 19

Alchemax Inc. is looking to undertake a project that requires an initial fixed investment of $200,000 and is expected to return a net cash inflow of $50,000 each year. The payback period for this project will be _____ years.

Accepted Answer

A)  2 
B)  7 
C)  4 
D)  9 
E)  5 
A)  2 
B)  7 
C)  4 
D)  9 
E)  5

Question 20

Which of the following criteria can be included in scoring models for selecting projects?

Accepted Answer

A)  potential profitability of the project 
B)  potential impact on the firm's competitive position 
C)  the organization's ability to market the output of a project 
D)  All of the above can be included 
E)  only a and b above 
A)  potential profitability of the project 
B)  potential impact on the firm's competitive position 
C)  the organization's ability to market the output of a project 
D)  All of the above can be included 
E)  only a and b above

Which of the following is a numeric project selection method?

Ultor is a media company that specializes in creating print advertisements for local businesses. Lately, it has been undertaking requests for multimedia projects that are new to it. In this scenario, Ultor is most likely accepting _____.

Projects are subdivisions of programs.

Which of the following is an example of win-lose negotiation?

In project management, superior-subordinate relationships are known and lines of authority are clear.

One limitation of scoring methods is that they can only incorporate quantitative data.

Briefly highlight the difference between win-win and win-lose negotiation strategies.

Scoring methods were developed to overcome some of the disadvantages of simple financial profitability methods.

Briefly describe the two different life cycles of projects.

One of the few similarities between project management and general management is that both exist in the well-defined organizational structure of superior/subordinates in the overall organization.

The main distinction between platform and derivative projects is that the latter depend on existing technology.

Projects with deliverables that are incrementally different from existing offerings are classified as platform projects.

Briefly explain the advantages of using scoring models to evaluate and select projects rather than using financial models.

One reason for the emphasis on project management is that tasks fit neatly into business-as-usual.

Project budgets are primarily modifications of budgets for the same activity in the previous period.

When using the weighted scoring model, the categories for each scale must be in equal intervals.

The ________________________ attempts to link the organization's projects directly to the goals and strategy of the organization.

Alchemax Inc. is looking to undertake a project that requires an initial fixed investment of $200,000 and is expected to return a net cash inflow of $50,000 each year. The payback period for this project will be _____ years.

Which of the following criteria can be included in scoring models for selecting projects?

The Manager, the Organization, and the Team

Planning the Project

Budgeting the Project

Scheduling the Project

Allocating Resources to the Project

Monitoring and Controlling the Project

Evaluating and Terminating the Project

Filters

Exam 1: The World of Project Management

Which of the following is a numeric project selection method?

Ultor is a media company that specializes in creating print advertisements for local businesses. Lately, it has been undertaking requests for multimedia projects that are new to it. In this scenario, Ultor is most likely accepting _____.

Projects are subdivisions of programs.

Which of the following is an example of win-lose negotiation?

In project management, superior-subordinate relationships are known and lines of authority are clear.

One limitation of scoring methods is that they can only incorporate quantitative data.

Briefly highlight the difference between win-win and win-lose negotiation strategies.

Scoring methods were developed to overcome some of the disadvantages of simple financial profitability methods.

Briefly describe the two different life cycles of projects.

One of the few similarities between project management and general management is that both exist in the well-defined organizational structure of superior/subordinates in the overall organization.

The main distinction between platform and derivative projects is that the latter depend on existing technology.

Projects with deliverables that are incrementally different from existing offerings are classified as platform projects.

Briefly explain the advantages of using scoring models to evaluate and select projects rather than using financial models.

One reason for the emphasis on project management is that tasks fit neatly into business-as-usual.

Project budgets are primarily modifications of budgets for the same activity in the previous period.

When using the weighted scoring model, the categories for each scale must be in equal intervals.

The ________________________ attempts to link the organization's projects directly to the goals and strategy of the organization.

Alchemax Inc. is looking to undertake a project that requires an initial fixed investment of $200,000 and is expected to return a net cash inflow of $50,000 each year. The payback period for this project will be _____ years.

Which of the following criteria can be included in scoring models for selecting projects?

The Manager, the Organization, and the Team

Planning the Project

Budgeting the Project

Scheduling the Project

Allocating Resources to the Project

Monitoring and Controlling the Project

Evaluating and Terminating the Project

Filters