Question 1

Briefly explain the project portfolio process.

Accepted Answer

The Project Portfolio Process (PPP) atte

Question 2

The project manager depends on legitimate authority to gain the cooperation of the many departments in the organization that may be asked to supply technology, information, resources and personnel to the project.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A)  Buying a car from a second-hand car dealership at the asking price 
B)  Taking time off from a project to help another team 
C)  Disagreeing with a project idea while not providing an alternative 
D)  Agreeing to share resources for the benefit of all involved in a project 
E)  Discussing a problem with all parties concerned and finding a middle ground 
A)  Buying a car from a second-hand car dealership at the asking price 
B)  Taking time off from a project to help another team 
C)  Disagreeing with a project idea while not providing an alternative 
D)  Agreeing to share resources for the benefit of all involved in a project 
E)  Discussing a problem with all parties concerned and finding a middle ground

Question 4

Briefly describe each of the three fundamental goals of a project.

Accepted Answer

The performance of a project, commonly c

Question 5

Nonnumeric project selection methods are only suitable if numeric methods are not available.

Accepted Answer

A) True 
 B)False

Question 6

Omicore Softworks, a software development firm, undertook a project that involved developing a bespoke accounting software for a firm. The project initiated with the project manager spending some time to identify the correct resources. Once this was done, the process of writing the program began. Most of the time was spent on debugging and ensuring that the software worked to the client's specification. 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 7

What are the major trends in project management?

Accepted Answer

Many recent developments in project mana

Question 8

A project that is selected because it is necessary for continued operations exemplifies a sacred cow.

Accepted Answer

A) True 
 B)False

Question 9

When using financial methods for selecting projects, the payback period is the simplest and best method to use.

Accepted Answer

A) True 
 B)False

Question 10

Many recent developments in project management are being driven by changes in the nature of the American workforce.

Accepted Answer

A) True 
 B)False

Question 11

Programs are subdivisions of projects.

Accepted Answer

A) True 
 B)False

Question 12

R&D projects are oriented toward using newly developed technologies or existing technologies in a new manner.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is not related to the three goals of a project?

Accepted Answer

A)  time 
B)  data 
C)  schedule 
D)  cost 
E)  performance 
A)  time 
B)  data 
C)  schedule 
D)  cost 
E)  performance

Question 14

While general managers have their authority limited to specific areas in the overall organization, project managers have authority over any activity required by the project.

Accepted Answer

A) True 
 B)False

Question 15

Searching for the third alternative is most closely associated with

Accepted Answer

A)  win-win negotiation 
B)  project planning 
C)  project budgeting 
D)  the three goals of a project 
E)  the weighted scoring model 
A)  win-win negotiation 
B)  project planning 
C)  project budgeting 
D)  the three goals of a project 
E)  the weighted scoring model

Question 16

Briefly explain what a project is.

Accepted Answer

A project is a temporary endeavor undert

Question 17

A matrix that illustrates the magnitude of both product and process changes resulting from a project is called

Accepted Answer

A)  the aggregate project plan 
B)  the product-process matrix 
C)  the aggregate master production schedule 
D)  the balanced scorecard 
E)  the R&D project portfolio 
A)  the aggregate project plan 
B)  the product-process matrix 
C)  the aggregate master production schedule 
D)  the balanced scorecard 
E)  the R&D project portfolio

Question 18

In the early years of a project when outflows usually exceed inflows, the NPV of the project for those years will be positive.

Accepted Answer

A) True 
 B)False

Question 19

A disadvantage of using the discounted cash flow method (or net present value) for selecting projects is that it ignores all non-monetary factors associated with the project except risk.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is not a characteristic of a project?

Accepted Answer

A)  They are unique 
B)  They are routine 
C)  They have specific due date 
D)  They have a specific deliverable 
E)  They have a purpose 
A)  They are unique 
B)  They are routine 
C)  They have specific due date 
D)  They have a specific deliverable 
E)  They have a purpose

Briefly explain the project portfolio process.

The project manager depends on legitimate authority to gain the cooperation of the many departments in the organization that may be asked to supply technology, information, resources and personnel to the project.

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

Briefly describe each of the three fundamental goals of a project.

Nonnumeric project selection methods are only suitable if numeric methods are not available.

What are the major trends in project management?

A project that is selected because it is necessary for continued operations exemplifies a sacred cow.

When using financial methods for selecting projects, the payback period is the simplest and best method to use.

Many recent developments in project management are being driven by changes in the nature of the American workforce.

Programs are subdivisions of projects.

R&D projects are oriented toward using newly developed technologies or existing technologies in a new manner.

Which of the following is not related to the three goals of a project?

While general managers have their authority limited to specific areas in the overall organization, project managers have authority over any activity required by the project.

Searching for the third alternative is most closely associated with

Briefly explain what a project is.

A matrix that illustrates the magnitude of both product and process changes resulting from a project is called

In the early years of a project when outflows usually exceed inflows, the NPV of the project for those years will be positive.

A disadvantage of using the discounted cash flow method (or net present value) for selecting projects is that it ignores all non-monetary factors associated with the project except risk.

Which of the following is not a characteristic of a project?

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

Briefly explain the project portfolio process.

The project manager depends on legitimate authority to gain the cooperation of the many departments in the organization that may be asked to supply technology, information, resources and personnel to the project.

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

Briefly describe each of the three fundamental goals of a project.

Nonnumeric project selection methods are only suitable if numeric methods are not available.

What are the major trends in project management?

A project that is selected because it is necessary for continued operations exemplifies a sacred cow.

When using financial methods for selecting projects, the payback period is the simplest and best method to use.

Many recent developments in project management are being driven by changes in the nature of the American workforce.

Programs are subdivisions of projects.

R&D projects are oriented toward using newly developed technologies or existing technologies in a new manner.

Which of the following is not related to the three goals of a project?

While general managers have their authority limited to specific areas in the overall organization, project managers have authority over any activity required by the project.

Searching for the third alternative is most closely associated with

Briefly explain what a project is.

A matrix that illustrates the magnitude of both product and process changes resulting from a project is called

In the early years of a project when outflows usually exceed inflows, the NPV of the project for those years will be positive.

A disadvantage of using the discounted cash flow method (or net present value) for selecting projects is that it ignores all non-monetary factors associated with the project except risk.

Which of the following is not a characteristic of a project?

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