Exam (elaborations)
Test Bank For Project Management in Practice, 7th Edition by Jack R. Meredith, Scott M. Shafer
Test Bank For Project Management in Practice, 7th Edition by Jack R. Meredith, Scott M. Shafer
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Test Bank ForProject 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
Copyright ©2017 John Wiley & Sons, Inc.
, 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.
Copyright ©2017 John Wiley & Sons, Inc.
, 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.
Copyright ©2017 John Wiley & Sons, Inc.
, Answer: True
Response: See section 1.6
Level: medium
M
16. The main distinction between platform and derivative projects is that the latter
depend on existing technology.
ED
Answer: False
Response: See section 1.6
Level: medium
C
O
17. One reason for the emphasis on project management is that tasks fit neatly into
business-as-usual.
N
Answer: False
Response: See section 1.1
N
Level: easy
O
18. Programs are subdivisions of projects.
IS
Answer: False
Response: See section 1.1
Level: easy
SE
19. Projects are subdivisions of programs.
Answer: True
U
Response: See section 1.1
Level: easy
R
20. A similarity between project management and general management is the
tendency to ―manage by exception.‖
Copyright ©2017 John Wiley & Sons, Inc.
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