Test Bank For Project Management in Practice, 7th Edition by Jack R. Meredith, Scott M. Shafer. Full Chapters Include;...1 The World of Project Management 1 1.1 What is a Project? 1 1.1.1 Trends in Project Management 2 1.2 Project Management Versus General Management 4 1.2.1 Major Differences 4 1.2...
Test Bank For
Project Management in Practice, 7th Edition Meredith
Chapter 1-8
M
Chapter 1: The World of Project Management
True/False
ED
1. A primary purpose of forming projects is to assign the responsibility for
accomplishing some organizational task to a specific person or small group.
Answer: True
Response: See section 1.1
C
Level: easy
O
2. One of the few similarities between project management and general management
is that both exist in the well-defined organizational structure of
N
superior/subordinates in the overall organization.
Answer: False
N
Response: See section 1.2
Level: medium
O
3. Many recent developments in project management are being driven by changes in
IS
the nature of the American workforce.
Answer: False
Response: See section 1.1
SE
Level: medium
4. There has been a growing use of projects to achieve an organization’s strategic
U
goals
Answer: True
R
Response: See section 1.1
Level: medium
, 5. While general managers have their authority limited to specific areas in the
overall organization, project managers have authority over any activity required
by the project.
Answer: False
M
Response: See section 1.2
Level: medium
ED
6. Projects are always carried out under conditions of uncertainty.
Answer: True
Response: See section 1.3
Level: easy
C
O
7. 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.
N
Answer: False
Response: See section 1.3
Level: medium
N
O
8. Nonnumeric project selection methods are only suitable if numeric methods are
not available.
IS
Answer: False
Response: See section 1.5
Level: medium
SE
9. When using financial methods for selecting projects, the payback period is the
simplest and best method to use.
Answer: False
U
Response: See section 1.5
Level: medium
R
10 Rank-ordering a large number of projects can be done with a Q-sort.
, Answer: True
Response: See section 1.5
Level: medium
M
11. A disadvantage of using the payback period method for selecting projects is that it
cannot reflect the time-value of money.
ED
Answer: True
Response: See section 1.5
Level: medium
C
12. A disadvantage of using the discounted cash flow method (or net present value)
for selecting projects is that it ignores all non-monetary factors associated with the
O
project except risk.
Answer: True
N
Response: See section 1.5
Level: medium
N
13. A disadvantage of using scoring models rather than financial models for selecting
O
projects is that they cannot include the project’s profitability.
Answer: False
IS
Response: See section 1.5
Level: medium
SE
14. A PM does not need to understand why a project is selected for funding because
he did not initiate the process.
Answer: False
U
Response: See section 1.5
Level: medium
R
15. The main distinction between platform and breakthrough projects is that the
former usually depend on existing technology.
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