Question 1

The timing of an audit depends on the purpose of the audit.

Accepted Answer

A) True 
 B)False

Question 2

The project audit is typically broader than the traditional management audit.

Accepted Answer

A) True 
 B)False

Question 3

What content should be included in the audit report?

Accepted Answer

At a minimum, the following information

Question 4

Project evaluation should not be limited to an after-the-fact analysis.

Accepted Answer

A) True 
 B)False

Question 5

What is the difference between financial audits and project audits?

Accepted Answer

A financial audit confirms the status of

Question 6

Rathalos Inc., a logistics firm, initiates a project to optimize its transportation infrastructure. After conducting research, the project team concludes that using a fleet of company-owned trucks for any transportation within 100 miles and relying on external firms for any distance beyond that will drastically improve the company's performance. Rathalos Inc. decides to incorporate these findings into its day-to-day operations after the project is closed. In the context of project closures, this scenario exemplifies _____.

Accepted Answer

A)  closure-by-murder 
B)  closure-by-addition 
C)  closure-by-integration 
D)  closure-by-starvation 
E)  closure-by-elimination 
A)  closure-by-murder 
B)  closure-by-addition 
C)  closure-by-integration 
D)  closure-by-starvation 
E)  closure-by-elimination

Question 7

Project evaluation is an appraisal for use by top management.

Accepted Answer

A) True 
 B)False

Question 8

A discussion of the potential for project failure and monetary loss should be included in the audit report.

Accepted Answer

A) True 
 B)False

Question 9

Arquebus, a construction company, undertook a project to build an apartment building two years ago. However, the building's construction had to be halted due to legal issues surrounding the land it was built on. After a lengthy legal battle, Arquebus had to discontinue the project. In the context of project closure, this scenario exemplifies _____.

Accepted Answer

A)  closure-by-murder 
B)  closure-by-addition 
C)  closure-by-integration 
D)  closure-by-starvation 
E)  closure-by-elimination 
A)  closure-by-murder 
B)  closure-by-addition 
C)  closure-by-integration 
D)  closure-by-starvation 
E)  closure-by-elimination

Question 10

The project final report is a history of the project.

Accepted Answer

A) True 
 B)False

Question 11

Project termination should be treated as a mechanistic process.

Accepted Answer

A) True 
 B)False

Question 12

The closure audit is a special type of project evaluation.

Accepted Answer

A) True 
 B)False

Question 13

Termination-by-integration occurs when an "in-house" project is successfully completed and institutionalized as a new, formal part of the organization.

Accepted Answer

A) True 
 B)False

Question 14

A general audit is usually constrained by time and cost and limited to a brief investigation of project essentials.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following audits is typically performed by a person or team with special technical skills?

Accepted Answer

A)  the general audit 
B)  the detailed audit 
C)  the aggregate audit 
D)  the quality audit 
E)  the technical audit 
A)  the general audit 
B)  the detailed audit 
C)  the aggregate audit 
D)  the quality audit 
E)  the technical audit

Question 16

A special type of project termination characterized by its unexpected suddenness and initiated by events such as forced retirement of the projects champion or the merger of the firm conducting the project with another firm is referred to as termination by "murder".

Accepted Answer

A) True 
 B)False

Question 17

There are four fundamentally different ways to close out a project.

Accepted Answer

A) True 
 B)False

Question 18

The original criteria for selecting and funding the project are largely irrelevant for project evaluation.

Accepted Answer

A) True 
 B)False

Question 19

Susan, an auditor, is performing an audit. She is constrained by costs and time to complete the audit on time. Which of the following steps should Susan take in order to complete the audit?

Accepted Answer

A)  Familiarize the audit team with the details of the project's goals and basis for selection 
B)  Assign a team member with technical skills to look into the project in detail 
C)  Write the project audit report in a letter to senior management for approval 
D)  Perform the audit off-site 
E)  Ensure that procedures and forms for data collection are made after the audit begins 
A)  Familiarize the audit team with the details of the project's goals and basis for selection 
B)  Assign a team member with technical skills to look into the project in detail 
C)  Write the project audit report in a letter to senior management for approval 
D)  Perform the audit off-site 
E)  Ensure that procedures and forms for data collection are made after the audit begins

Question 20

According to research, which of the following is not an important dimension of project success?

Accepted Answer

A)  project efficiency 
B)  project team cohesiveness 
C)  customer impact/satisfaction 
D)  business/direct success 
E)  future potential 
A)  project efficiency 
B)  project team cohesiveness 
C)  customer impact/satisfaction 
D)  business/direct success 
E)  future potential

The timing of an audit depends on the purpose of the audit.

The project audit is typically broader than the traditional management audit.

What content should be included in the audit report?

Project evaluation should not be limited to an after-the-fact analysis.

What is the difference between financial audits and project audits?

Project evaluation is an appraisal for use by top management.

A discussion of the potential for project failure and monetary loss should be included in the audit report.

The project final report is a history of the project.

Project termination should be treated as a mechanistic process.

The closure audit is a special type of project evaluation.

Termination-by-integration occurs when an "in-house" project is successfully completed and institutionalized as a new, formal part of the organization.

A general audit is usually constrained by time and cost and limited to a brief investigation of project essentials.

Which of the following audits is typically performed by a person or team with special technical skills?

A special type of project termination characterized by its unexpected suddenness and initiated by events such as forced retirement of the projects champion or the merger of the firm conducting the project with another firm is referred to as termination by "murder".

There are four fundamentally different ways to close out a project.

The original criteria for selecting and funding the project are largely irrelevant for project evaluation.

Susan, an auditor, is performing an audit. She is constrained by costs and time to complete the audit on time. Which of the following steps should Susan take in order to complete the audit?

According to research, which of the following is not an important dimension of project success?

The World of Project Management

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

Filters

Exam 8: Evaluating and Terminating the Project

The timing of an audit depends on the purpose of the audit.

The project audit is typically broader than the traditional management audit.

What content should be included in the audit report?

Project evaluation should not be limited to an after-the-fact analysis.

What is the difference between financial audits and project audits?

Project evaluation is an appraisal for use by top management.

A discussion of the potential for project failure and monetary loss should be included in the audit report.

The project final report is a history of the project.

Project termination should be treated as a mechanistic process.

The closure audit is a special type of project evaluation.

Termination-by-integration occurs when an "in-house" project is successfully completed and institutionalized as a new, formal part of the organization.

A general audit is usually constrained by time and cost and limited to a brief investigation of project essentials.

Which of the following audits is typically performed by a person or team with special technical skills?

A special type of project termination characterized by its unexpected suddenness and initiated by events such as forced retirement of the projects champion or the merger of the firm conducting the project with another firm is referred to as termination by "murder".

There are four fundamentally different ways to close out a project.

The original criteria for selecting and funding the project are largely irrelevant for project evaluation.

Susan, an auditor, is performing an audit. She is constrained by costs and time to complete the audit on time. Which of the following steps should Susan take in order to complete the audit?

According to research, which of the following is not an important dimension of project success?

The World of Project Management

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

Filters