Exam 3: Project Management

Capital items typically have a useful life of several years.

__________________ activities are repetitive activities performed over and over again.

The ____ decision involves comparing the pros and cons of in-house production versus outsourcing of a given product or service.

Project risk is an uncertain event or condition that,if it occurs,has a positive or a negative effect on a project objectiv.

A ____ contract requires paying the provider an amount that covers the provider's actual costs plus an additional amount or percentage for profit.

The timing of a project is frequently a critical constraint.

A mission attempts to achieve specific business objectives and is subject to certain constraints such as total cost and completion date.

Project ____________________ is a key determinant of the other project factors,and must carefully be defined to ensure that the project meets its essential objectives.

Projects have the same tasks and objectives as operational activities.

Researchers Hamel and Prahalad defined the term core __________________ to mean something that a firm can do well and that provides customer benefits,is hard for competitors to imitate,and that can be leveraged widely to many products and markets.

Discuss the elements of human resource management.

Five highly interrelated parameters define a project- ____.

Worldwide,project-related spending is estimated to be almost $____ trillion per year.

____ are the people most directly affected by the project.

How can the quality of a project can be defined?

Projects come to a definite end once the project objectives are met or the project is cancelled.

About ____ percent of all IT projects are "challenged," meaning that they are over time,over budget,and/or lacking critical features and requirements.

The quality of a project that delivers an IT-related system is exclusively defined in terms of the system's performance.

"____" in an IT project context means that the project met schedule and budget constraints and delivered all critical features and requirements.

The project ____ are the people involved in the project or those affected by its outcome.