Exam 6: The Basics of Planning and Project Management

Objective setting is closely linking with the ____ process.

Memory on the Move Memory on the Move is a manufacturer of USB flashdrives, and is in the midst of a labor-management contract negotiation for the coming three years. In a meeting on management's side, Michael, the human resources manager, is wondering if they are facing a labor strike. Rachel, the operations manager, argues that even if management offers a compromise, she is not sure how the labor representatives will react. Being new in the position, Michael suggests that Memory on the Move should follow their two main competitors in the industry and copy their labor agreement. Rachel disagrees and suggests waiting. Rachel argues that if the union actually goes on strike and the company suffers from declining production, then maybe the company should offer a compromise. Vanessa, CEO and president, after hearing all sides gave her perspective and recommendation. Vanessa proposed that the company should quickly settle with the union and focus on being a technology leader in the industry. -Refer to Memory on the Move. Michael is experiencing which of these uncertainties?

The typical management by objectives (MBO) cycle takes two months to complete, since frequent budget adjustments are necessary.

Bob Bach has just started his own solar architecture company. Bob wants to create a business document that expresses his new company's vision, priorities and goals. What kind of document should Bob write?

For large, non-routine projects, Program evaluation and review technique (PERT) is an excellent scheduling tool.

What sets operational planning apart from strategic and intermediate planning?

According to 70 research studies, "Top-management commitment" is the key success factor for management by objectives (MBO) programs.

A good plan describes what and why something is to be accomplished.

Simon Cline is a project manager for an advertising company. Recently, Simon faced the challenge of blending team members from multiple organizations, and motivating them without formal authority. Which role should Simon take on?

Strategic planning, intermediate planning, and operational planning should never overlap, because their boundaries are rigid rather than elastic.

Conceptualization is the first stage of the project life cycle.

Janice Stafford is a CEO for a large scooter manufacturer. Due to changes in her company's competitive environment, Janice wants to reexamine how the company will achieve a competitive advantage so that it will continue to grow and increase profits. What kind of planning should Janice focus on?

Which of these does a PERT activity represent?

A performance milestone representing the start or finish of some activity is a PERT

In a break-even analysis, fixed costs are a function of

Karl Wilhelm, an operations manager, cannot predict the effects of a new technology on his organization. What type of uncertainty is Karl experiencing?

Memory on the Move Memory on the Move is a manufacturer of USB flashdrives, and is in the midst of a labor-management contract negotiation for the coming three years. In a meeting on management's side, Michael, the human resources manager, is wondering if they are facing a labor strike. Rachel, the operations manager, argues that even if management offers a compromise, she is not sure how the labor representatives will react. Being new in the position, Michael suggests that Memory on the Move should follow their two main competitors in the industry and copy their labor agreement. Rachel disagrees and suggests waiting. Rachel argues that if the union actually goes on strike and the company suffers from declining production, then maybe the company should offer a compromise. Vanessa, CEO and president, after hearing all sides gave her perspective and recommendation. Vanessa proposed that the company should quickly settle with the union and focus on being a technology leader in the industry. -Refer to Memory on the Move. Michael's suggestion exhibits the ____ organizational response to the labor uncertainty.

People perceive three types of environmental uncertainty: response, ____, and ____.

A project to build three customized golf carts is a good example of when the program evaluation and review technique (PERT) would be useful.

In break-even analysis, the contribution margin is the break-even point expressed in units.