Question 1

The task of getting a project's activities done on time, within budget, and according to specifications is called project management.

Accepted Answer

A) True 
 B)False

Question 2

Time series analysis, substitution effect, and economic indicators are all examples of qualitative forecasting techniques.

Accepted Answer

A) True 
 B)False

Question 3

The vast majority of competitor intelligence involves corporate spying.

Accepted Answer

A) True 
 B)False

Question 4

Project management differs from managing a production line because of the temporary nature of most projects and project teams.

Accepted Answer

A) True 
 B)False

Question 5

One suggestion for improving forecasting effectiveness is to __________.

Accepted Answer

A)  increase the length of forecasts to improve their accuracy 
B)  base your forecast on a single model whenever possible 
C)  always employ global forecasting 
D)  use simple forecasting methods 
E)  assume that you can accurately identify turning points in a trend 
A)  increase the length of forecasts to improve their accuracy 
B)  base your forecast on a single model whenever possible 
C)  always employ global forecasting 
D)  use simple forecasting methods 
E)  assume that you can accurately identify turning points in a trend

Question 6

Scenario planning is most useful in forecasting events that cannot be anticipated.

Accepted Answer

A) True 
 B)False

Question 7

Environmental scanning establishes the basis for forecasts.

Accepted Answer

A) True 
 B)False

Question 8

Refer to the scenario below to answer the following questions.
Scheduling Tools (Scenario)
Grace has just graduated from university and is totally overwhelmed by her first management job. When she was in school, she could work on projects one at a time; but now she must juggle several projects, each of which has multiple activities. Grace is amazed to find that her supervisor, Linda, has everything planned in a flow chart diagram. Linda's current project is to oversee the construction of an office building, and Grace is determined to understand all of the major activities and potential problems so that she can be more proactive.
-The flow chart that Linda is using depicts the sequence of activities necessary to construct the office building and the time and costs associated with each activity. Linda is using __________.

Accepted Answer

A)  a Gantt chart 
B)  breakeven analysis 
C)  linear programming 
D)  time series analysis 
E)  PERT network analysis 
A)  a Gantt chart 
B)  breakeven analysis 
C)  linear programming 
D)  time series analysis 
E)  PERT network analysis

Question 9

Gantt charts were developed to help managers perform __________.

Accepted Answer

A)  budgeting 
B)  benchmarking 
C)  regression analysis 
D)  scheduling 
E)  linear programming 
A)  budgeting 
B)  benchmarking 
C)  regression analysis 
D)  scheduling 
E)  linear programming

Question 10

Which technique is widely used to help managers make profit projections?

Accepted Answer

A)  factor analysis 
B)  cost accounting 
C)  breakeven analysis 
D)  PERT network analysis 
E)  linear programming 
A)  factor analysis 
B)  cost accounting 
C)  breakeven analysis 
D)  PERT network analysis 
E)  linear programming

Question 11

What type of forecasting technique relies on the judgment and opinion of knowledgeable individuals?

Accepted Answer

A)  qualitative 
B)  short term 
C)  confirmatory 
D)  predictive 
E)  quantitative 
A)  qualitative 
B)  short term 
C)  confirmatory 
D)  predictive 
E)  quantitative

Question 12

If managers at Sharp Canada wanted to predict the effect of LCD televisions on the sale of conventional televisions, they should use which quantitative forecasting technique?

Accepted Answer

A)  regression models 
B)  customer evaluation 
C)  substitution effect 
D)  economic indicators 
E)  time series analysis 
A)  regression models 
B)  customer evaluation 
C)  substitution effect 
D)  economic indicators 
E)  time series analysis

Question 13

Refer to the scenario below to answer the following questions.
Breakeven Analysis at MRI (Scenario)
Mike has just been hired as a sales manager at Mobile Research Inc. (MRI), makers of the popular Blueberry wireless phone. At his first management briefing, Mike is informed that the company is losing money, despite the immense popularity of the Blueberry phone. He learns that the company is facing intense competition from its main rival, Mandarin Communications, makers of the M-Phone. The M-Phone has the same popular features as the Blueberry and sells for $40 less. When Mike asked about the cost structure for the Blueberry he was informed that the selling price is $200, variable costs are $120, and total fixed costs are $800,000 per month.
-If the company sold only 7,500 Blueberry phones last month, what was the loss?

Accepted Answer

A)  $100,000 
B)  $200,000 
C)  $300,000 
D)  $400,000 
E)  $500,000 
A)  $100,000 
B)  $200,000 
C)  $300,000 
D)  $400,000 
E)  $500,000

Question 14

Which of the following allows managers to monitor the interdependent activities of a project's progress, identify possible bottlenecks, and shift resources as necessary in order to keep the project on schedule?

Accepted Answer

A)  Gantt chart 
B)  PERT network 
C)  load chart 
D)  breakeven analysis 
E)  linear programming 
A)  Gantt chart 
B)  PERT network 
C)  load chart 
D)  breakeven analysis 
E)  linear programming

Question 15

A load chart is a modified Gantt chart.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is true concerning benchmarking?

Accepted Answer

A)  Benchmarking always involves analyzing a competitor. 
B)  Benchmarking is most effective when analyzing within your own industry. 
C)  Benchmarking may involve analyzing a company with a completely different product. 
D)  Benchmarking foreign companies is not suggested due to cultural differences. 
E)  Benchmarking results in faster growth but reduced productivity. 
A)  Benchmarking always involves analyzing a competitor. 
B)  Benchmarking is most effective when analyzing within your own industry. 
C)  Benchmarking may involve analyzing a company with a completely different product. 
D)  Benchmarking foreign companies is not suggested due to cultural differences. 
E)  Benchmarking results in faster growth but reduced productivity.

Question 17

If a project requires coordinating hundreds of activities, some of which must be done simultaneously and some of which cannot begin until earlier activities have been completed, which of the following tools should be used?

Accepted Answer

A)  Gantt chart 
B)  breakeven analysis 
C)  load chart 
D)  PERT network 
E)  linear programming 
A)  Gantt chart 
B)  breakeven analysis 
C)  load chart 
D)  PERT network 
E)  linear programming

Question 18

briefly discuss the goal of forecasting and describe the environmental conditions under which it is most accurate. Next, detail three of the ways managers can improve the effectiveness of their forecasting efforts. Explain some of the rationale behind why these enhancements work.

Accepted Answer

The goal of forecasting is to provide ma

Question 19

Refer to the scenario below to answer the following questions.
Dave's Doughnuts (Scenario)
Dave Glazer is the owner of Dave's Doughnuts, a five-store chain of doughnut shops located in the Okanagan region of British Columbia. At weekly management meetings, Dave asks each of the five store managers to report on local trends and new customer requests.
-Dave recently went on a well-deserved vacation with his wife, Donna. While at the beachfront resort, Dave took many notes regarding the excellent service he received. On the flight home, Dave reviewed his notes to see which of the resort's "best practices" he could apply to his doughnut shops. Dave is performing which of the following?

Accepted Answer

A)  qualitative forecasting 
B)  benchmarking 
C)  environmental scanning 
D)  scenario planning 
E)  linear programming 
A)  qualitative forecasting 
B)  benchmarking 
C)  environmental scanning 
D)  scenario planning 
E)  linear programming

Question 20

If there is a linear relationship between two variables, then a change in one variable must be accompanied by __________ in the other variable.

Accepted Answer

A)  no change 
B)  an exactly proportional change 
C)  a larger change 
D)  a disproportionally inverse change 
E)  a smaller change 
A)  no change 
B)  an exactly proportional change 
C)  a larger change 
D)  a disproportionally inverse change 
E)  a smaller change

The task of getting a project's activities done on time, within budget, and according to specifications is called project management.

Time series analysis, substitution effect, and economic indicators are all examples of qualitative forecasting techniques.

The vast majority of competitor intelligence involves corporate spying.

Project management differs from managing a production line because of the temporary nature of most projects and project teams.

One suggestion for improving forecasting effectiveness is to __________.

Scenario planning is most useful in forecasting events that cannot be anticipated.

Environmental scanning establishes the basis for forecasts.

Gantt charts were developed to help managers perform __________.

Which technique is widely used to help managers make profit projections?

What type of forecasting technique relies on the judgment and opinion of knowledgeable individuals?

If managers at Sharp Canada wanted to predict the effect of LCD televisions on the sale of conventional televisions, they should use which quantitative forecasting technique?

Which of the following allows managers to monitor the interdependent activities of a project's progress, identify possible bottlenecks, and shift resources as necessary in order to keep the project on schedule?

A load chart is a modified Gantt chart.

Which of the following is true concerning benchmarking?

If a project requires coordinating hundreds of activities, some of which must be done simultaneously and some of which cannot begin until earlier activities have been completed, which of the following tools should be used?

briefly discuss the goal of forecasting and describe the environmental conditions under which it is most accurate. Next, detail three of the ways managers can improve the effectiveness of their forecasting efforts. Explain some of the rationale behind why these enhancements work.

If there is a linear relationship between two variables, then a change in one variable must be accompanied by __________ in the other variable.

Introduction to Management and Organizations

Organizational Culture and the Organizational Environment

Managing in a Global Environment

Managing Entrepreneurially

Managing Responsibly and Ethically

Innovation and Adaptability

Decision Making

Foundations of Planning

Managing Strategically

Organizational Design

Managers and Communication

Managing Human Resources

Leadership

Motivating Employees

Managing Groups and Teams

Evidence-Based Decision Making

Management History

Managing Operations

Filters

Exam 18: Planning and Control Techniques

The task of getting a project's activities done on time, within budget, and according to specifications is called project management.

Time series analysis, substitution effect, and economic indicators are all examples of qualitative forecasting techniques.

The vast majority of competitor intelligence involves corporate spying.

Project management differs from managing a production line because of the temporary nature of most projects and project teams.

One suggestion for improving forecasting effectiveness is to __________.

Scenario planning is most useful in forecasting events that cannot be anticipated.

Environmental scanning establishes the basis for forecasts.

Gantt charts were developed to help managers perform __________.

Which technique is widely used to help managers make profit projections?

What type of forecasting technique relies on the judgment and opinion of knowledgeable individuals?

If managers at Sharp Canada wanted to predict the effect of LCD televisions on the sale of conventional televisions, they should use which quantitative forecasting technique?

Which of the following allows managers to monitor the interdependent activities of a project's progress, identify possible bottlenecks, and shift resources as necessary in order to keep the project on schedule?

A load chart is a modified Gantt chart.

Which of the following is true concerning benchmarking?

If a project requires coordinating hundreds of activities, some of which must be done simultaneously and some of which cannot begin until earlier activities have been completed, which of the following tools should be used?

briefly discuss the goal of forecasting and describe the environmental conditions under which it is most accurate. Next, detail three of the ways managers can improve the effectiveness of their forecasting efforts. Explain some of the rationale behind why these enhancements work.

If there is a linear relationship between two variables, then a change in one variable must be accompanied by __________ in the other variable.

Introduction to Management and Organizations

Organizational Culture and the Organizational Environment

Managing in a Global Environment

Managing Entrepreneurially

Managing Responsibly and Ethically

Innovation and Adaptability

Decision Making

Foundations of Planning

Managing Strategically

Organizational Design

Managers and Communication

Managing Human Resources

Leadership

Motivating Employees

Managing Groups and Teams

Evidence-Based Decision Making

Management History

Managing Operations

Filters