WGu Project Management C722 Unit 3
Module 7 Quiz Exam Questions and Answers
with Verified Solutions | Latest Updated 2026
A project selection model is c. Flexible
____________ Provides accurate measures across a
if it provides accurate measures reasonable
across a reasonable range of range of conditions
conditions.
Realistic
Capable
Flexible
When a company has many c. project selection
project When a company has many project
proposals from which to choose, proposals from
____________ involves both which to choose, project selection involves
evaluating both
and prioritizing the project evaluating and prioritizing the project
proposals. proposals.
Payback period
Opportunity cost
Project selection
Time value of money
,The _____________ project b. low cost
selection A low cost project selection model keeps
model keeps the cost of gathering the costs
data and running the model low, of gathering data and running the model
relative to the scale of the project. low,
Comparable relative to the scale of the project.
Low cost
Ease of use
A project selection model is said to
be ____________ when it
accurately
reflects the decision making
context
of the company including its
capabilities and limitations.
Realistic
Flexible
Capable
For a project selection model to be a. capable
considered ____________ it must
be able
to integrate the relevant factors of
the evaluation including: time, risk,
cost, and the internal as well as
external environments.
Capable
Realistic
Flexible
, Projects evaluated under the b. competitive necessity
____________ model are Projects evaluated under the competitive
approved based necessity
on whether implementing the model are approved based on whether
project implementing the project will ensure the
will ensure the viability of the viability of
company in the competitive the company in the competitive market.
market.
Sacred cow
Competitive necessity
Operating necessity
Using an appropriate project c. limited resources
selection method is important With limited financial, human, and
because organizations have: equipment
Shareholders to inform resources, organizations need to ensure
Unlimited resources they
Limited resources maximize what they have available.
Employees to keep busy
____________ project selection c. ease of use
models Ease of use project selection models
should provide results in a should
reasonable amount of time which provide results in a reasonable amount of
is time
easily understood by the decision which is easily understood by the decision
makers. makers.
Low cost
Comparable
Ease of use
Module 7 Quiz Exam Questions and Answers
with Verified Solutions | Latest Updated 2026
A project selection model is c. Flexible
____________ Provides accurate measures across a
if it provides accurate measures reasonable
across a reasonable range of range of conditions
conditions.
Realistic
Capable
Flexible
When a company has many c. project selection
project When a company has many project
proposals from which to choose, proposals from
____________ involves both which to choose, project selection involves
evaluating both
and prioritizing the project evaluating and prioritizing the project
proposals. proposals.
Payback period
Opportunity cost
Project selection
Time value of money
,The _____________ project b. low cost
selection A low cost project selection model keeps
model keeps the cost of gathering the costs
data and running the model low, of gathering data and running the model
relative to the scale of the project. low,
Comparable relative to the scale of the project.
Low cost
Ease of use
A project selection model is said to
be ____________ when it
accurately
reflects the decision making
context
of the company including its
capabilities and limitations.
Realistic
Flexible
Capable
For a project selection model to be a. capable
considered ____________ it must
be able
to integrate the relevant factors of
the evaluation including: time, risk,
cost, and the internal as well as
external environments.
Capable
Realistic
Flexible
, Projects evaluated under the b. competitive necessity
____________ model are Projects evaluated under the competitive
approved based necessity
on whether implementing the model are approved based on whether
project implementing the project will ensure the
will ensure the viability of the viability of
company in the competitive the company in the competitive market.
market.
Sacred cow
Competitive necessity
Operating necessity
Using an appropriate project c. limited resources
selection method is important With limited financial, human, and
because organizations have: equipment
Shareholders to inform resources, organizations need to ensure
Unlimited resources they
Limited resources maximize what they have available.
Employees to keep busy
____________ project selection c. ease of use
models Ease of use project selection models
should provide results in a should
reasonable amount of time which provide results in a reasonable amount of
is time
easily understood by the decision which is easily understood by the decision
makers. makers.
Low cost
Comparable
Ease of use
