MGMT372 Term Test UC A Comprehensive Guide With Rationales

A - correct answers Smith construction has won a contract to build a 20-story condominium building in Auckland. The building will have 70 condos, a parking garage, an indoor and outdoor pool, one floor for retail, one floor of offices and several shared community rooms. Mary Parker has elected to create a programme for the creation of the building. Which one of the following best describes a programme? a. A collection of related projects managed in coordination to gain control that would not necessarily be available if the projects were managed independently. b. A standardised approach to project management with multiple projects coordinated together c. A standardised approach to project management within an organisation D - correct answers Which of the following choices is not one of the driving forces behind the increasing demand for project management? a. Compression of the product life cycle b. Knowledge explosion c. Development of third world and closed economies d. Global warming e. Corporate downsizing B - correct answers Which of the following statements describes best the relationship between project phases and the Project life cycle? Select one: a. The Project life cycle includes the time when the project is performed and the expected product lifespan after that. b. In project management, the sequence of project phases and phase gates is often referred to as Project life cycle. c. The Project life cycle is regarded as a sequence of project activities while phases are defined to control overlapping activities. d. The Project life cycle describes how iterations of project management processes are used when a project schedule is developed. E - correct answers In which of the following categories are you more likely to find customer training? Select one: a. Defining b. Planning c. Executing d. Reviewing e. Closing B - correct answers Among the following activities, which is the best example of a project? Select one: a. Completing a college degree b. Writing a new textbook on project management c. All of these are good examples of projects d. Producing automobiles e. Processing insurance claims B - correct answers Project managers are not responsible for which one of the following in most organisations? Select one: a. Identifying the project requirements b. Selecting the projects to be initiated c. Balancing demands for time, cost scope, and quality d. Establishing clear and achievable project objectives B - correct answers Which of the following constraints is not typically found in managing projects? Select one: a. Performance b. Software c. Cost d. People e. Time B - correct answers Which of the following is not a project? Select one: a. Implementing a new Enterprise Resource Planning system b. Manufacturing automobiles c. Producing the Lord of the Rings Trilogy d. Restructuring the administration of the University C - correct answers The advent of project management has been most profound in Select one: a. Medicine b. Retail c. Information technology d. Automobile manufacturing e. Sports B - correct answers Which of the following choices is not one of the stages of a project life cycle? Select one: a. Executing b. Reviewing c. Defining d. Planning e. Closing A - correct answers Which of the following is not true of strategic management? Select one: a. It should be done once each year after operating plans are developed b. It supports consistency of action at every level of the organization c. It develops an integrated and coordinated long-term plan of action d. It positions the firm to meet the needs of its customers e. All of these are true statements A - correct answers The assessment of the external and internal environments is called _______ analysis. Select one: a. SWOT analysis b. Competitive c. Industry d. Market e. Strategic D - correct answers Susie's department is implementing many projects. She finds herself starting and stopping work on one task to go and work on another task, and then return to the work on the original task. Susie is experiencing Select one: a. Poor scheduling b. Excess work burden c. Flexible tasking d. Multitasking e. Burnout D - correct answers A company has to make a choice between two projects, because the available resources in money and kind are not sufficient to run both at the same time. Each project would take 9 months and would cost $250,000. The first project is a process optimization which would result in a cost reduction of $120,000 per year. This benefit would be achieved immediately after the end of the project. The second project would be the development of a new product which could produce the following net profits after the end of the project: