Question 1

Very few projects are failures because they have well defined goals and their business intent is clear.

Accepted Answer

A) True 
 B)False

Question 2

We crash a project only by reducing critical activity times.

Accepted Answer

A) True 
 B)False

Question 3

Use the data from problem 21 and the following table to crash the project to 60 minutes.
 $$\begin{array} { | c | c | } 
\hline \text { Activity } & \begin{array} { c } 
\text { Crash } \
\text { Cost/Week }
\end{array} \
\hline A & \$ 500 \
\hline B & \$ 250 \
\hline \mathrm { C } & \$ 700 \
\hline \mathrm { D } & \$ 450 \
\hline \mathrm { E } & \$ 800 \
\hline \mathrm { F } & \$ 675 \
\hline \mathrm { G } & \$ 900 \
\hline \mathrm { H } & \$ 650 \
\hline
\end{array}$$

Accepted Answer

To provide a full answer to the input qu

Question 4

Using the first diagram above, which one of the following paths is the critical path?

Accepted Answer

A)  ACEG 
B)  ACFG 
C)  ABEG 
D)  ABDG 
A)  ACEG 
B)  ACFG 
C)  ABEG 
D)  ABDG

Question 5

The four phases of any project are initiation, planning, implementation, and closure.

Accepted Answer

A) True 
 B)False

Question 6

An organizational structure where team members are assigned to a project and report directly to the project manager is called

Accepted Answer

A)  a hierarchical structure 
B)  a matrix structure 
C)  a mixed project structure 
D)  a departmental structure 
A)  a hierarchical structure 
B)  a matrix structure 
C)  a mixed project structure 
D)  a departmental structure

Question 7

Projects are independent of time because you do not know how long it will take to finish them.

Accepted Answer

A) True 
 B)False

Question 8

__________ from finance is finding use in valuing project growth, deferment, stage, scale, switching, and abandonment options.

Accepted Answer

The answer of __________ from finance is finding use in...

Question 9

Which of the following is not a project?

Accepted Answer

A)  doing a term paper or presentation for your OM class 
B)  writing a weekly newspaper sports column 
C)  maintaining your company's website 
D)  All of the above are projects. 
A)  doing a term paper or presentation for your OM class 
B)  writing a weekly newspaper sports column 
C)  maintaining your company's website 
D)  All of the above are projects.

Question 10

Which of the following is not a method used to evaluate projects with unpredictable cash flows where probabilities cannot be estimated?

Accepted Answer

A)  maximin 
B)  maximax 
C)  minimax 
D)  minimax regret 
A)  maximin 
B)  maximax 
C)  minimax 
D)  minimax regret

Question 11

The best project manager is the one with only the best technical skills.

Accepted Answer

A) True 
 B)False

Question 12

Project performance has three dimensions: __________, __________, and __________.

Accepted Answer

The answer of Project performance has three dimensions: __________, __________,...

Question 13

Managing multiple projects is called __________.

Accepted Answer

The answer of Managing multiple projects is called __________....

Question 14

What characteristics should you consider when selecting project team members? Briefly describe these characteristics for members of a project team assigned to develop and deliver a new drug to market.

Accepted Answer

When selecting project team members for

Question 15

What are the three main goals of any project? Use an example to illustrate your answer, and describe how project management principles might help achieve these goals.

Accepted Answer

The three main goals of any project are

Question 16

Larry was part of a project team due to his technical expertise. However, he was faced with the dilemma of reporting to two bosses: one in his functional area and his project manager. Larry is in a firm that has a(n) __________ organizational structure.

Accepted Answer

The answer of Larry was part of a project team...

Question 17

A project is a unique, repetitive, and structured work effort to accomplish a specific goal.

Accepted Answer

A) True 
 B)False

Question 18

The optimistic time estimate is the best time required to perform the activity.

Accepted Answer

A) True 
 B)False

Question 19

Using the information shown in the previous table, what is the duration time for activity D?

Accepted Answer

A)  3 
B)  4 
C)  7 
D)  1 
A)  3 
B)  4 
C)  7 
D)  1

Question 20

The longest path determines the expected time it will take to finish the project, and this is called the critical path.

Accepted Answer

A) True 
 B)False

Very few projects are failures because they have well defined goals and their business intent is clear.

We crash a project only by reducing critical activity times.

Use the data from problem 21 and the following table to crash the project to 60 minutes. Activity Crash Cost/Week A \ 500 B \ 250 \ 700 \ 450 \ 800 \ 675 \ 900 \ 650

Using the first diagram above, which one of the following paths is the critical path?

The four phases of any project are initiation, planning, implementation, and closure.

An organizational structure where team members are assigned to a project and report directly to the project manager is called

Projects are independent of time because you do not know how long it will take to finish them.

__________ from finance is finding use in valuing project growth, deferment, stage, scale, switching, and abandonment options.

Which of the following is not a project?

Which of the following is not a method used to evaluate projects with unpredictable cash flows where probabilities cannot be estimated?

The best project manager is the one with only the best technical skills.

Project performance has three dimensions: , , and __.

Managing multiple projects is called __________.

What characteristics should you consider when selecting project team members? Briefly describe these characteristics for members of a project team assigned to develop and deliver a new drug to market.

What are the three main goals of any project? Use an example to illustrate your answer, and describe how project management principles might help achieve these goals.

Larry was part of a project team due to his technical expertise. However, he was faced with the dilemma of reporting to two bosses: one in his functional area and his project manager. Larry is in a firm that has a(n) __________ organizational structure.

A project is a unique, repetitive, and structured work effort to accomplish a specific goal.

The optimistic time estimate is the best time required to perform the activity.

Using the information shown in the previous table, what is the duration time for activity D?

The longest path determines the expected time it will take to finish the project, and this is called the critical path.

Operations Management and You

Designing Products and Processes

Process and Service Design

Managing Processes

Forecasting

Capacity Planning

Managing Capacity

Managing Inventory

Managing Quality

Supply Chain Design

Managing Supply Chains

Finding the Right Location

Filters

Exam 13: Working With Projects

Very few projects are failures because they have well defined goals and their business intent is clear.

We crash a project only by reducing critical activity times.

Use the data from problem 21 and the following table to crash the project to 60 minutes. Activity Crash Cost/Week A \ 500 B \ 250 \ 700 \ 450 \ 800 \ 675 \ 900 \ 650

Using the first diagram above, which one of the following paths is the critical path?

The four phases of any project are initiation, planning, implementation, and closure.

An organizational structure where team members are assigned to a project and report directly to the project manager is called

Projects are independent of time because you do not know how long it will take to finish them.

__________ from finance is finding use in valuing project growth, deferment, stage, scale, switching, and abandonment options.

Which of the following is not a project?

Which of the following is not a method used to evaluate projects with unpredictable cash flows where probabilities cannot be estimated?

The best project manager is the one with only the best technical skills.

Project performance has three dimensions: __________, __________, and __________.

Managing multiple projects is called __________.

What characteristics should you consider when selecting project team members? Briefly describe these characteristics for members of a project team assigned to develop and deliver a new drug to market.

What are the three main goals of any project? Use an example to illustrate your answer, and describe how project management principles might help achieve these goals.

Larry was part of a project team due to his technical expertise. However, he was faced with the dilemma of reporting to two bosses: one in his functional area and his project manager. Larry is in a firm that has a(n) __________ organizational structure.

A project is a unique, repetitive, and structured work effort to accomplish a specific goal.

The optimistic time estimate is the best time required to perform the activity.

Using the information shown in the previous table, what is the duration time for activity D?

The longest path determines the expected time it will take to finish the project, and this is called the critical path.

Operations Management and You

Designing Products and Processes

Process and Service Design

Managing Processes

Forecasting

Capacity Planning

Managing Capacity

Managing Inventory

Managing Quality

Supply Chain Design

Managing Supply Chains

Finding the Right Location

Filters

Project performance has three dimensions: , , and __.