Question 1

Explain when projects should be closed.

Accepted Answer

If one adopts the position that sunk cos

Question 2

According to the text, which of the following is not an item to consider for project evaluation report recommendations?

Accepted Answer

A)  communication with the client and senior management 
B)  locating opportunities for technological advances 
C)  locating opportunities to crash the project 
D)  improving the project-management process 
E)  improving the organization's used of projects 
A)  communication with the client and senior management 
B)  locating opportunities for technological advances 
C)  locating opportunities to crash the project 
D)  improving the project-management process 
E)  improving the organization's used of projects

Question 3

The original criteria for selecting and funding the project are largely irrelevant for project evaluation.

Accepted Answer

A) True 
 B)False

Question 4

Describe what type of information would be in the risk analysis and risk management section of the audit report?

Accepted Answer

The risk analysis and management section

Question 5

The request for proposal may contain valuable information for a project audit.

Accepted Answer

A) True 
 B)False

Question 6

What content should be included in the audit report?

Accepted Answer

At a minimum, the following information

Question 7

Which of the following is concerned with appraising a project relative to its initial or revised plan?

Accepted Answer

A)  project evaluation 
B)  project termination 
C)  project monitoring 
D)  project control 
E)  project planning 
A)  project evaluation 
B)  project termination 
C)  project monitoring 
D)  project control 
E)  project planning

Question 8

Which of the following was not a major section listed in the text for the audit report?

Accepted Answer

A)  current status 
B)  future project status 
C)  critical management issues 
D)  financial analysis 
E)  risk analysis and risk management 
A)  current status 
B)  future project status 
C)  critical management issues 
D)  financial analysis 
E)  risk analysis and risk management

Question 9

Briefly describe and contrast general audits, detailed audits, and technical audits.

Accepted Answer

While audits can be performed at any lev

Question 10

Briefly describe the three types of project closure.

Accepted Answer

There are three fundamentally different

Question 11

The timing of an audit depends on the purpose of the audit.

Accepted Answer

A) True 
 B)False

Question 12

Portia is the head of an audit team that is conducting a project audit. Most of the people in her audit team are new and inexperienced. In order to ensure that her team builds trust with the project team during the audit, Portia should tell her team members to:

Accepted Answer

A)  accept unconfirmed and unverified sources of information. 
B)  refrain from informing project personnel about the operations involved in an audit process. 
C)  offer their personal opinions on the data gathered. 
D)  avoid misunderstandings with the project team members. 
E)  avoid guidelines that seem too time consuming. 
A)  accept unconfirmed and unverified sources of information. 
B)  refrain from informing project personnel about the operations involved in an audit process. 
C)  offer their personal opinions on the data gathered. 
D)  avoid misunderstandings with the project team members. 
E)  avoid guidelines that seem too time consuming.

Question 13

Organizational structure should be addressed in the project final report.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is not a main duty of the termination manager?

Accepted Answer

A)  Oversee the closing of the project's books 
B)  Complete the project final report 
C)  Ascertain any product support requirements 
D)  Ensure completion of work 
E)  Ensure that documentation is complete 
A)  Oversee the closing of the project's books 
B)  Complete the project final report 
C)  Ascertain any product support requirements 
D)  Ensure completion of work 
E)  Ensure that documentation is complete

Question 15

List several key items to consider for project evaluation report recommendations.

Accepted Answer

Several key items to consider for projec

Question 16

Matthew, an auditor, is going to start a project audit. He has already acquired information about the project from the accounting department. Which of the following steps should he take to expedite gathering data about the project?

Accepted Answer

A)  He should accept unconfirmed and unverified information from discreet sources. 
B)  He should streamline the project development process. 
C)  He should develop forms and procedures for data collection. 
D)  He should ensure the legality of the audit. 
E)  He should compile the currently available data separately. 
A)  He should accept unconfirmed and unverified information from discreet sources. 
B)  He should streamline the project development process. 
C)  He should develop forms and procedures for data collection. 
D)  He should ensure the legality of the audit. 
E)  He should compile the currently available data separately.

Question 17

The project final report is a history of the project.

Accepted Answer

A) True 
 B)False

Question 18

Four fundamental reasons for project failure include all of the following except;

Accepted Answer

A)  Project was not required for this task in the first place 
B)  Insufficient support form senior management 
C)  Insufficient funds 
D)  Poor up-front funding 
E)  Naming the wrong project manager 
A)  Project was not required for this task in the first place 
B)  Insufficient support form senior management 
C)  Insufficient funds 
D)  Poor up-front funding 
E)  Naming the wrong project manager

Question 19

Susan, an auditor, is performing an audit. She is constrained by costs and time to complete the audit on time. Which of the following steps should Susan take in order to complete the audit?

Accepted Answer

A)  Familiarize the audit team with the details of the project's goals and basis for selection 
B)  Assign a team member with technical skills to look into the project in detail 
C)  Write the project audit report in a letter to senior management for approval 
D)  Perform the audit off-site 
E)  Ensure that procedures and forms for data collection are made after the audit begins 
A)  Familiarize the audit team with the details of the project's goals and basis for selection 
B)  Assign a team member with technical skills to look into the project in detail 
C)  Write the project audit report in a letter to senior management for approval 
D)  Perform the audit off-site 
E)  Ensure that procedures and forms for data collection are made after the audit begins

Question 20

Measuring a project's success on budget, schedule, and performance is typically more complicated than measuring revenues or qualitative, subjective factors.

Accepted Answer

A) True 
 B)False

Explain when projects should be closed.

According to the text, which of the following is not an item to consider for project evaluation report recommendations?

The original criteria for selecting and funding the project are largely irrelevant for project evaluation.

Describe what type of information would be in the risk analysis and risk management section of the audit report?

The request for proposal may contain valuable information for a project audit.

What content should be included in the audit report?

Which of the following is concerned with appraising a project relative to its initial or revised plan?

Which of the following was not a major section listed in the text for the audit report?

Briefly describe and contrast general audits, detailed audits, and technical audits.

Briefly describe the three types of project closure.

The timing of an audit depends on the purpose of the audit.

Portia is the head of an audit team that is conducting a project audit. Most of the people in her audit team are new and inexperienced. In order to ensure that her team builds trust with the project team during the audit, Portia should tell her team members to:

Organizational structure should be addressed in the project final report.

Which of the following is not a main duty of the termination manager?

List several key items to consider for project evaluation report recommendations.

Matthew, an auditor, is going to start a project audit. He has already acquired information about the project from the accounting department. Which of the following steps should he take to expedite gathering data about the project?

The project final report is a history of the project.

Four fundamental reasons for project failure include all of the following except;

Susan, an auditor, is performing an audit. She is constrained by costs and time to complete the audit on time. Which of the following steps should Susan take in order to complete the audit?

Measuring a project's success on budget, schedule, and performance is typically more complicated than measuring revenues or qualitative, subjective factors.

The World of Project Management

The Manager, the Organization, and the Team

Planning the Project

Budgeting the Project

Scheduling the Project

Allocating Resources to the Project

Monitoring and Controlling the Project

Filters

Exam 8: Evaluating and Terminating the Project

Explain when projects should be closed.

According to the text, which of the following is not an item to consider for project evaluation report recommendations?

The original criteria for selecting and funding the project are largely irrelevant for project evaluation.

Describe what type of information would be in the risk analysis and risk management section of the audit report?

The request for proposal may contain valuable information for a project audit.

What content should be included in the audit report?

Which of the following is concerned with appraising a project relative to its initial or revised plan?

Which of the following was not a major section listed in the text for the audit report?

Briefly describe and contrast general audits, detailed audits, and technical audits.

Briefly describe the three types of project closure.

The timing of an audit depends on the purpose of the audit.

Portia is the head of an audit team that is conducting a project audit. Most of the people in her audit team are new and inexperienced. In order to ensure that her team builds trust with the project team during the audit, Portia should tell her team members to:

Organizational structure should be addressed in the project final report.

Which of the following is not a main duty of the termination manager?

List several key items to consider for project evaluation report recommendations.

Matthew, an auditor, is going to start a project audit. He has already acquired information about the project from the accounting department. Which of the following steps should he take to expedite gathering data about the project?

The project final report is a history of the project.

Four fundamental reasons for project failure include all of the following except;

Susan, an auditor, is performing an audit. She is constrained by costs and time to complete the audit on time. Which of the following steps should Susan take in order to complete the audit?

Measuring a project's success on budget, schedule, and performance is typically more complicated than measuring revenues or qualitative, subjective factors.

The World of Project Management

The Manager, the Organization, and the Team

Planning the Project

Budgeting the Project

Scheduling the Project

Allocating Resources to the Project

Monitoring and Controlling the Project

Filters