Question 1

If the initial investment is a project is $100,000 and the expected annual net profit for the project is $20,000, the payback period is:

Accepted Answer

A)  One fifth of a year 
B)  4 years 
C)  5 years 
D)  10 years 
E)  insufficient information to determine the payback period 
A)  One fifth of a year 
B)  4 years 
C)  5 years 
D)  10 years 
E)  insufficient information to determine the payback period

Question 2

One can trade-off time and cost when managing a project, but the project's technical specifications must be maintained exactly as the client initially specifies.

Accepted Answer

A) True 
 B)False

Question 3

Projects that begin with a slow start, have quick momentum in the middle, and have a slow finish are said to follow which type of lifecycle?

Accepted Answer

A)  J-shaped lifecycle 
B)  L-shaped lifecycle 
C)  an exponential growth lifecycle 
D)  an S-shaped lifecycle 
E)  an X-shaped lifecycle 
A)  J-shaped lifecycle 
B)  L-shaped lifecycle 
C)  an exponential growth lifecycle 
D)  an S-shaped lifecycle 
E)  an X-shaped lifecycle

Question 4

Restrum Corp. is a company that delivers lunch to working professionals through delivery drivers. It has recently undertaken a project that will allow it to use drones to deliver meals to its customers. Restrum's new project can be categorized as a(n) _____.

Accepted Answer

A)  derivative project 
B)  R&D project 
C)  blue-sky project 
D)  breakthrough project 
E)  sacred cow project 
A)  derivative project 
B)  R&D project 
C)  blue-sky project 
D)  breakthrough project 
E)  sacred cow project

Question 5

The comparative benefits method is considered a nonnumeric project selection method.

Accepted Answer

A) True 
 B)False

Question 6

A primary purpose of forming projects is to assign the responsibility for accomplishing some organizational task to a specific person or small group.

Accepted Answer

A) True 
 B)False

Question 7

A disadvantage of using the payback period method for selecting projects is that it cannot reflect the time-value of money.

Accepted Answer

A) True 
 B)False

Question 8

As a rule of thumb, the number of factors included in a scoring model should be at least 10.

Accepted Answer

A) True 
 B)False

Question 9

Explain what the third alternative is in negotiation.

Accepted Answer

Successful win-win negotiation often inv

Question 10

A similarity between project management and general management is the tendency to "manage by exception."

Accepted Answer

A) True 
 B)False

Question 11

The main distinction between platform and breakthrough projects is that the former usually depend on existing technology.

Accepted Answer

A) True 
 B)False

Question 12

A PM does not need to understand why a project is selected for funding because he did not initiate the process.

Accepted Answer

A) True 
 B)False

Question 13

A disadvantage of using scoring models rather than financial models for selecting projects is that they cannot include the project's profitability.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is not a trend in project management?

Accepted Answer

A)  achieving strategic goals 
B)  improving project effectiveness 
C)  quasi projects 
D)  reductive projects 
E)  achieving routine goals 
A)  achieving strategic goals 
B)  improving project effectiveness 
C)  quasi projects 
D)  reductive projects 
E)  achieving routine goals

Question 15

Negotiating the purchase of a new car would typically be characterized as win-win negotiation.

Accepted Answer

A) True 
 B)False

Question 16

There has been a growing use of projects to achieve an organization's strategic goals

Accepted Answer

A) True 
 B)False

Question 17

Having responsibility for the outcome of a project without the authority of rank or position is common in project management.

Accepted Answer

A) True 
 B)False

Question 18

"Blue Sky" projects are

Accepted Answer

A)  R & D projects 
B)  Platform projects 
C)  Breakthrough projects 
D)  Derivative projects 
E)  High risk projects 
A)  R & D projects 
B)  Platform projects 
C)  Breakthrough projects 
D)  Derivative projects 
E)  High risk projects

Question 19

To what extent can the three goals of a project be traded-off for one another?

Accepted Answer

The two primary roles of a project manag

Question 20

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

Accepted Answer

A)  Buying a car from a second-hand car dealership at the asking price 
B)  Forcibly using resources allocated to another department 
C)  Keeping resources that could be used by another team busy in unnecessary tasks 
D)  Agreeing to share resources for the benefit of all involved in different projects 
E)  Carrying on an argument over a petty issue that can be easily resolved 
A)  Buying a car from a second-hand car dealership at the asking price 
B)  Forcibly using resources allocated to another department 
C)  Keeping resources that could be used by another team busy in unnecessary tasks 
D)  Agreeing to share resources for the benefit of all involved in different projects 
E)  Carrying on an argument over a petty issue that can be easily resolved

If the initial investment is a project is $100,000 and the expected annual net profit for the project is $20,000, the payback period is:

One can trade-off time and cost when managing a project, but the project's technical specifications must be maintained exactly as the client initially specifies.

Projects that begin with a slow start, have quick momentum in the middle, and have a slow finish are said to follow which type of lifecycle?

Restrum Corp. is a company that delivers lunch to working professionals through delivery drivers. It has recently undertaken a project that will allow it to use drones to deliver meals to its customers. Restrum's new project can be categorized as a(n) _____.

The comparative benefits method is considered a nonnumeric project selection method.

A primary purpose of forming projects is to assign the responsibility for accomplishing some organizational task to a specific person or small group.

A disadvantage of using the payback period method for selecting projects is that it cannot reflect the time-value of money.

As a rule of thumb, the number of factors included in a scoring model should be at least 10.

Explain what the third alternative is in negotiation.

A similarity between project management and general management is the tendency to "manage by exception."

The main distinction between platform and breakthrough projects is that the former usually depend on existing technology.

A PM does not need to understand why a project is selected for funding because he did not initiate the process.

A disadvantage of using scoring models rather than financial models for selecting projects is that they cannot include the project's profitability.

Which of the following is not a trend in project management?

Negotiating the purchase of a new car would typically be characterized as win-win negotiation.

There has been a growing use of projects to achieve an organization's strategic goals

Having responsibility for the outcome of a project without the authority of rank or position is common in project management.

"Blue Sky" projects are

To what extent can the three goals of a project be traded-off for one another?

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

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

If the initial investment is a project is $100,000 and the expected annual net profit for the project is $20,000, the payback period is:

One can trade-off time and cost when managing a project, but the project's technical specifications must be maintained exactly as the client initially specifies.

Projects that begin with a slow start, have quick momentum in the middle, and have a slow finish are said to follow which type of lifecycle?

Restrum Corp. is a company that delivers lunch to working professionals through delivery drivers. It has recently undertaken a project that will allow it to use drones to deliver meals to its customers. Restrum's new project can be categorized as a(n) _____.

The comparative benefits method is considered a nonnumeric project selection method.

A primary purpose of forming projects is to assign the responsibility for accomplishing some organizational task to a specific person or small group.

A disadvantage of using the payback period method for selecting projects is that it cannot reflect the time-value of money.

As a rule of thumb, the number of factors included in a scoring model should be at least 10.

Explain what the third alternative is in negotiation.

A similarity between project management and general management is the tendency to "manage by exception."

The main distinction between platform and breakthrough projects is that the former usually depend on existing technology.

A PM does not need to understand why a project is selected for funding because he did not initiate the process.

A disadvantage of using scoring models rather than financial models for selecting projects is that they cannot include the project's profitability.

Which of the following is not a trend in project management?

Negotiating the purchase of a new car would typically be characterized as win-win negotiation.

There has been a growing use of projects to achieve an organization's strategic goals

Having responsibility for the outcome of a project without the authority of rank or position is common in project management.

"Blue Sky" projects are

To what extent can the three goals of a project be traded-off for one another?

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

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