Question 1

Binding arbitration:

Accepted Answer

A)  Requires that a terminated project be completed before damages are awarded. 
B)  Requires empanelment of equal numbers from both the client and project organizations to reach a verdict. 
C)  Should be used to settle disputes only if the principle of caveat emptor does not apply. 
D)  Can settle outstanding claims or disputes provided that all parties agree to its use. 
A)  Requires that a terminated project be completed before damages are awarded. 
B)  Requires empanelment of equal numbers from both the client and project organizations to reach a verdict. 
C)  Should be used to settle disputes only if the principle of caveat emptor does not apply. 
D)  Can settle outstanding claims or disputes provided that all parties agree to its use. D

Question 2

An ex-gratia claim made when a project is closed down is made when:

Accepted Answer

A)  There is no contractual basis for a claim. 
B)  The project company fails to perform to the terms of the contract. 
C)  The client company fails to perform to the terms of the contract. 
D)  A third party causes either the client or project company to fail to perform to the terms of the contract. 
A)  There is no contractual basis for a claim. 
B)  The project company fails to perform to the terms of the contract. 
C)  The client company fails to perform to the terms of the contract. 
D)  A third party causes either the client or project company to fail to perform to the terms of the contract. A

Question 3

What are any four items that prevent effective project closeouts and how can each be avoided?

Accepted Answer

The author lists five common reasons why project closeout is handled haphazardly or ineffectively in many companies.These reasons,and possible countermeasures are shown in the table.

Question 4

The goal of a lessons-learned meeting is to recapitulate the series of events:

Accepted Answer

A)  As subjectively as possible. 
B)  From the project manager's viewpoint. 
C)  As intuitively as possible. 
D)  From all possible viewpoints. 
A)  As subjectively as possible. 
B)  From the project manager's viewpoint. 
C)  As intuitively as possible. 
D)  From all possible viewpoints.

Question 5

A classic statement regarding project termination and closeout is,"The termination of a project is:

Accepted Answer

A)  The start of the next project." 
B)  A project." 
C)  Never ending." 
D)  An opportunity." 
A)  The start of the next project." 
B)  A project." 
C)  Never ending." 
D)  An opportunity."

Question 6

The actual carryover from one project to another is minimal because projects are unique,one-time events.

Accepted Answer

A) True 
 B)False

Question 7

The primary goal in requiring a project final report is to:

Accepted Answer

A)  Formally close out the project. 
B)  Provide the customer with a sense of completion. 
C)  Lay the groundwork for successful future projects. 
D)  Find out the root cause for all failures, both major and minor. 
A)  Formally close out the project. 
B)  Provide the customer with a sense of completion. 
C)  Lay the groundwork for successful future projects. 
D)  Find out the root cause for all failures, both major and minor.

Question 8

In the United States,a Private Finance Initiative is used to protect the excessive financial exposure of a contracting agency to a project being developed.

Accepted Answer

A) True 
 B)False

Question 9

What are the four major categories in the work breakdown structure for project termination? Provide examples of specific tasks within each of these four categories.

Accepted Answer

Work breakdown structure for project ter

Question 10

The difference between a BOT contract and a BOOT contract is that under the BOOT contract:

Accepted Answer

A)  The customer must observe all phases of the project process before the product is handed over. 
B)  The project organization is obligated to complete the project on time. 
C)  The project organization must take initial ownership of the product. 
D)  The customer must organize the project's resources for the project organization. 
A)  The customer must observe all phases of the project process before the product is handed over. 
B)  The project organization is obligated to complete the project on time. 
C)  The project organization must take initial ownership of the product. 
D)  The customer must organize the project's resources for the project organization.

Question 11

A project that is terminated by extinction is not completed successfully.

Accepted Answer

A) True 
 B)False

Question 12

Projects accumulate quantities of unused supplies and materials.It is imperative that an organization have a method for disposing of these materials when a project is terminated.This issue is:

Accepted Answer

A)  Intellectual and internal. 
B)  Intellectual and external. 
C)  Emotional and of the project team. 
D)  Emotional and of the client. 
A)  Intellectual and internal. 
B)  Intellectual and external. 
C)  Emotional and of the project team. 
D)  Emotional and of the client.

Question 13

Under the BOT option for a project:

Accepted Answer

A)  The project organization must operate the work product of the project for a while. 
B)  The customer organization must accept the work product of the project at the scheduled delivery date. 
C)  The project organization may build the work product to their own specifications instead of the customer's. 
D)  The customer organization transfers employees to the project organization for the duration of the project. 
A)  The project organization must operate the work product of the project for a while. 
B)  The customer organization must accept the work product of the project at the scheduled delivery date. 
C)  The project organization may build the work product to their own specifications instead of the customer's. 
D)  The customer organization transfers employees to the project organization for the duration of the project.

Question 14

The new dean was completely uninterested in international programs,so he selected the least competent faculty to serve on the committee and took away their doughnut budget,effectively terminating the project by starvation.

Accepted Answer

A) True 
 B)False

Question 15

The final items that are left to accomplish or correct at the end of a construction project are on the:

Accepted Answer

A)  Punch list. 
B)  Check list. 
C)  Check sheet. 
D)  Errata sheet. 
A)  Punch list. 
B)  Check list. 
C)  Check sheet. 
D)  Errata sheet.

Question 16

Describe and rank any three decision rules for terminating an ongoing project before completion.

Accepted Answer

Answers will vary with students' ranking

Question 17

All projects are unique:

Accepted Answer

A)  Therefore all project management circumstances are equally unique. 
B)  So knowledge cannot be transferred. 
C)  But they may have several common points. 
D)  So knowledge should not be transferred to avoid bias in future projects. 
A)  Therefore all project management circumstances are equally unique. 
B)  So knowledge cannot be transferred. 
C)  But they may have several common points. 
D)  So knowledge should not be transferred to avoid bias in future projects.

Question 18

Researchers have determined that one significant early warning sign of project failure is:

Accepted Answer

A)  The time to complete the project lengthens. 
B)  The rewards were available on an intermittent basis. 
C)  The new product being developed was targeting a market that few new products and firms were entering or exiting. 
D)  There was little prior experience on the project team. 
A)  The time to complete the project lengthens. 
B)  The rewards were available on an intermittent basis. 
C)  The new product being developed was targeting a market that few new products and firms were entering or exiting. 
D)  There was little prior experience on the project team.

Question 19

Which two types of project termination can occur for unsuccessful projects?

Accepted Answer

A)  Integration and starvation 
B)  Starvation and extinction 
C)  Extinction and addition 
D)  Addition and integration 
A)  Integration and starvation 
B)  Starvation and extinction 
C)  Extinction and addition 
D)  Addition and integration

Question 20

Surveys on the early warning signs of project failure indicate that a red flag for failure is:

Accepted Answer

A)  The time to complete the project lengthens. 
B)  The lack of viable commercial objectives. 
C)  The political forces have turned against the project. 
D)  The benefits of the project won't be realized until the end. 
A)  The time to complete the project lengthens. 
B)  The lack of viable commercial objectives. 
C)  The political forces have turned against the project. 
D)  The benefits of the project won't be realized until the end.

Binding arbitration:

An ex-gratia claim made when a project is closed down is made when:

What are any four items that prevent effective project closeouts and how can each be avoided?

The goal of a lessons-learned meeting is to recapitulate the series of events:

A classic statement regarding project termination and closeout is,"The termination of a project is:

The actual carryover from one project to another is minimal because projects are unique,one-time events.

The primary goal in requiring a project final report is to:

In the United States,a Private Finance Initiative is used to protect the excessive financial exposure of a contracting agency to a project being developed.

What are the four major categories in the work breakdown structure for project termination? Provide examples of specific tasks within each of these four categories.

The difference between a BOT contract and a BOOT contract is that under the BOOT contract:

A project that is terminated by extinction is not completed successfully.

Projects accumulate quantities of unused supplies and materials.It is imperative that an organization have a method for disposing of these materials when a project is terminated.This issue is:

Under the BOT option for a project:

The new dean was completely uninterested in international programs,so he selected the least competent faculty to serve on the committee and took away their doughnut budget,effectively terminating the project by starvation.

The final items that are left to accomplish or correct at the end of a construction project are on the:

Describe and rank any three decision rules for terminating an ongoing project before completion.

All projects are unique:

Researchers have determined that one significant early warning sign of project failure is:

Which two types of project termination can occur for unsuccessful projects?

Surveys on the early warning signs of project failure indicate that a red flag for failure is:

Introduction: Why Project Management?

The Organizational Context: Strategy,Structure,and Culture

Project Selection and Portfolio Management

Leadership and the Project Manager

Scope Management

Project Team Building,Conflict,and Negotiation

Risk Management

Cost Estimation and Budgeting

Project Scheduling: Networks,Duration Estimation,and Critical Path

Project Scheduling: Lagging, Crashing, and Activity Networks

Advanced Topics in Planning and Scheduling: Agile and Critical Chain

Resource Management

Project Evaluation and Control

Filters

Exam 14: Project Closeout and Termination

Binding arbitration:

An ex-gratia claim made when a project is closed down is made when:

What are any four items that prevent effective project closeouts and how can each be avoided?

The goal of a lessons-learned meeting is to recapitulate the series of events:

A classic statement regarding project termination and closeout is,"The termination of a project is:

The actual carryover from one project to another is minimal because projects are unique,one-time events.

The primary goal in requiring a project final report is to:

In the United States,a Private Finance Initiative is used to protect the excessive financial exposure of a contracting agency to a project being developed.

What are the four major categories in the work breakdown structure for project termination? Provide examples of specific tasks within each of these four categories.

The difference between a BOT contract and a BOOT contract is that under the BOOT contract:

A project that is terminated by extinction is not completed successfully.

Projects accumulate quantities of unused supplies and materials.It is imperative that an organization have a method for disposing of these materials when a project is terminated.This issue is:

Under the BOT option for a project:

The new dean was completely uninterested in international programs,so he selected the least competent faculty to serve on the committee and took away their doughnut budget,effectively terminating the project by starvation.

The final items that are left to accomplish or correct at the end of a construction project are on the:

Describe and rank any three decision rules for terminating an ongoing project before completion.

All projects are unique:

Researchers have determined that one significant early warning sign of project failure is:

Which two types of project termination can occur for unsuccessful projects?

Surveys on the early warning signs of project failure indicate that a red flag for failure is:

Introduction: Why Project Management?

The Organizational Context: Strategy,Structure,and Culture

Project Selection and Portfolio Management

Leadership and the Project Manager

Scope Management

Project Team Building,Conflict,and Negotiation

Risk Management

Cost Estimation and Budgeting

Project Scheduling: Networks,Duration Estimation,and Critical Path

Project Scheduling: Lagging, Crashing, and Activity Networks

Advanced Topics in Planning and Scheduling: Agile and Critical Chain

Resource Management

Project Evaluation and Control

Filters