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TEST BANK FOR Project Management in Practice, 7th Edition by Meredith Chapter 1-8 A+
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TEST BANK For Project Management in Practice, 7th Edition by Jack R. Meredith, Verified Chapters 1 - 8, Complete Newest Version
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TEST BANK For Project Management in Practice, 7th Edition by Jack R. Meredith, Verified Chapters 1 - 8, Complete Newest Version
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TEST BANK For Project Management in Practice, 7th Edition by Jack R. Meredith, Verified Chapters 1 - 8, Complete Newest Version
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Created By: A SolutionTEST BANK FOR Project Management in Practice, 7th
Edition by Meredith Chapter 1-8 A+
Chapter 1: The World of Project Management
True/False
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 Level: easy
2. One of the few similarities between project management and general management is that
both exist in the well-defined organizational structure of superior/subordinates in the overall
organization.
Answer: False
Response: See section 1.2 Level: medium
A+ Page 1
,Created By: A Solution
3. Many recent developments in project management are being driven by changes in the
nature of the American workforce.
Answer: False
Response: See section 1.1 Level: medium
4. There has been a growing use of projects to achieve an organization’s strategic goals
Answer: True
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
Response: See section 1.2 Level: medium
6. Projects are always carried out under conditions of uncertainty.
A+ Page 2
,Created By: A Solution
Answer: True
Response: See section 1.3 Level: easy
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.
Answer: False
Response: See section 1.3 Level: medium
8. Nonnumeric project selection methods are only suitable if numeric methods are not
available.
Answer: False
Response: See section 1.5 Level: medium
9. When using financial methods for selecting projects, the payback period is the simplest
and best method to use.
A+ Page 3
, Created By: A Solution
Answer: False
Response: See section 1.5 Level: medium
10 Rank-ordering a large number of projects can be done with a Q-sort.
Answer: True
Response: See section 1.5 Level: medium
11. A disadvantage of using the payback period method for selecting projects is that it cannot
reflect the time-value of money.
Answer: True
Response: See section 1.5 Level: medium
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 project except
risk.
A+ Page 4
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