Question 1

When using the weighted scoring model, the categories for each scale must be in equal intervals.

Accepted Answer

A) True 
 B)False

Question 2

Projects that begin with a slow start, have quick momentum in the middle, and then have a slow finish are said to follow which type of lifecycle?

Accepted Answer

A)  J-shaped lifecycle 
B)  L-shaped lifecycle 
C)  An exponential growth lifecycle 
D)  An S-shaped lifecycle 
E)  An X-shaped lifecycle

Question 3

In the early years of a project, the outflows usually exceed the inflows.

Accepted Answer

A) True 
 B)False

Question 4

Briefly explain the advantages of using scoring models to evaluate and select projects rather than using financial models.

Accepted Answer

The answer of Briefly explain the advantages of using scoring...

Question 5

A matrix that illustrates the magnitude of both product and process changes resulting from a project is called…

Accepted Answer

A)  the aggregate project plan 
B)  the product-process matrix 
C)  the aggregate master production schedule 
D)  the balanced scorecard 
E)  the R&D project portfolio

Question 6

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.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following criteria can be included in scoring models for selecting projects?

Accepted Answer

A)  Potential profitability of the project 
B)  Potential impact on the firm's competitive position 
C)  The organization's ability to market the output of a project 
D)  All of the above can be included

Question 8

Ouroboros Construction started the construction of a house for a client. The initial planning of the project took longer than expected. Once plans were finalized, it did not take long to erect the structure, and it was done much before schedule. However, it took a lot of time to give the finishing touches to the house, and it was a long time before the house was completed. The project in this scenario has a(n) _____.

Accepted Answer

A)  J-shaped life cycle 
B)  X-shaped life cycle 
C)  S-shaped life cycle 
D)  L-shaped life cycle 
E)  O-shaped life cycle

Question 9

One reason for the emphasis on project management is that tasks fit neatly into business-as-usual.

Accepted Answer

A) True 
 B)False

Question 10

The first step in managing risk is to identify these potentially uncertain events and the likelihood that any or all may occur. This is called statistical analysis.

Accepted Answer

A) True 
 B)False

Question 11

The project manager depends on legitimate authority to gain the cooperation of the many departments in the organization that may be asked to supply technology, information, resources and personnel to the project.

Accepted Answer

A) True 
 B)False

Question 12

In addition to the Agile Manifesto, the group of 17 also developed a list of 12 Agile Principles that support the values articulated in the Agile Manifesto. Which of the following is not one of those 12 principles?

Accepted Answer

A)  Build projects around motivated individuals. 
B)  The most efficient and effective method of conveying information to and within a development team is a detailed email. 
C)  Working software is the primary measure of progress. 
D)  Agile processes promote sustainable development. 
E)  Business people and developers must work together daily throughout the project.

Question 13

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.

Accepted Answer

A) True 
 B)False

Question 14

Six Sigma process improvement project usually follow a specific set of phases.

Accepted Answer

A) True 
 B)False

Question 15

Alchemax Inc. is looking to undertake a project that has an initial fixed investment of $200,000. It is expected to return a net cash inflow of $50,000 each year. The payback period for this project will be _____ years.

Accepted Answer

A)  2 
B)  7 
C)  4 
D)  9 
E)  5

Question 16

These projects with objectives or deliverables are only incrementally different in both product and process from existing offerings.

Accepted Answer

A)  Derivative project 
B)  R&D project 
C)  Blue-sky project 
D)  Breakthrough project 
E)  Platform project

Question 17

Restrum Corp. is a company that delivers lunch to working professionals through delivery drivers. It has recently undertaken a project that will allow it to use drones to deliver meals to its customers. Restrum's new project can be categorized as a(n) _____.

Accepted Answer

A)  derivative project 
B)  R&D project 
C)  blue-sky project 
D)  breakthrough project 
E)  sacred cow project

Question 18

Projects are subdivisions of programs.

Accepted Answer

A) True 
 B)False

Question 19

To what extent can the three goals of a project be traded-off for one another?

Accepted Answer

The answer of To what extent can the three goals...

Question 20

Why is having a negotiation skill in win-win negotiation necessary for a project manager?

Accepted Answer

The answer of Why is having a negotiation skill in...

Exam 1: The World of Project Management

When using the weighted scoring model, the categories for each scale must be in equal intervals.

Projects that begin with a slow start, have quick momentum in the middle, and then have a slow finish are said to follow which type of lifecycle?

In the early years of a project, the outflows usually exceed the inflows.

Briefly explain the advantages of using scoring models to evaluate and select projects rather than using financial models.

A matrix that illustrates the magnitude of both product and process changes resulting from a project is called…

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.

Which of the following criteria can be included in scoring models for selecting projects?

One reason for the emphasis on project management is that tasks fit neatly into business-as-usual.

The first step in managing risk is to identify these potentially uncertain events and the likelihood that any or all may occur. This is called statistical analysis.

The project manager depends on legitimate authority to gain the cooperation of the many departments in the organization that may be asked to supply technology, information, resources and personnel to the project.

In addition to the Agile Manifesto, the group of 17 also developed a list of 12 Agile Principles that support the values articulated in the Agile Manifesto. Which of the following is not one of those 12 principles?

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.

Six Sigma process improvement project usually follow a specific set of phases.

Alchemax Inc. is looking to undertake a project that has an initial fixed investment of $200,000. It is expected to return a net cash inflow of $50,000 each year. The payback period for this project will be _____ years.

These projects with objectives or deliverables are only incrementally different in both product and process from existing offerings.

Restrum Corp. is a company that delivers lunch to working professionals through delivery drivers. It has recently undertaken a project that will allow it to use drones to deliver meals to its customers. Restrum's new project can be categorized as a(n) _____.

Projects are subdivisions of programs.

To what extent can the three goals of a project be traded-off for one another?

Why is having a negotiation skill in win-win negotiation necessary for a project manager?