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Project Management in Practice, 7th Edition Meredith
Chapter 1-8
Chapter 1: The World of Project Management
True/False
1. A primary purpose of forming projects is to assign the responsibility for
accomplishing some organizational task to a specific person or small
group.
Answer: True
Response: See section 1.1
Level: easy
2. 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.
, Answer: False
Response: See section 1.2
Level: medium
3. Many recent developments in project management are being driven by changes in
the nature of the American workforce.
Answer: False
Response: See section 1.1
Level: medium
4. There has been a growing use of projects to achieve an organization’s
strategic goals
Answer: True
Response: See section 1.1
Level: medium
,5. While general managers have their authority limited to specific areas in the
overall organization, project managers have authority over any activity
required by the project.
Answer: False
Response: See section 1.2
Level: medium
6. Projects are always carried out under conditions of uncertainty.
Answer: True
Response: See section 1.3
Level: easy
7. One can trade-off time and cost when managing a project, but the project’s
technical specifications must be maintained exactly as the client initially
specifies.
Answer: False
Response: See section 1.3
Level: medium
8. Nonnumeric project selection methods are only suitable if numeric methods are
not available.
Answer: False
Response: See section 1.5
Level: medium
9. When using financial methods for selecting projects, the payback period is
the simplest and best method to use.
Answer: False
Response: See section 1.5
Level: medium
10 Rank-ordering a large number of projects can be done with a Q-sort.
, Answer: True
Response: See section 1.5
Level: medium
11. A disadvantage of using the payback period method for selecting projects is that it
cannot reflect the time-value of money.
Answer: True
Response: See section 1.5
Level: medium
12. 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.
Answer: True
Response: See section 1.5
Level: medium
13. A disadvantage of using scoring models rather than financial models for
selecting projects is that they cannot include the project’s profitability.
Answer: False
Response: See section 1.5
Level: medium
14. A PM does not need to understand why a project is selected for funding
because he did not initiate the process.
Answer: False
Response: See section 1.5
Level: medium
15. The main distinction between platform and breakthrough projects is that
the former usually depend on existing technology.
For the Tests
To Clarify, This Is A Test Bank, Not A Textbook You Have Immediate
Access To Download Your Test Bank.
No Delays In Loading Is Fast And Instant Immediately After
Purchase! You Will
Receive A Full Bank Of Tests, In Other Words, All Chapters Will Be
There.
Test Banks Are Presented In PDF Format Therefore, No Special
Software
Is Required To Download Them
TEST BANK FOR
Project Management in Practice, 7th Edition Meredith
Chapter 1-8
Chapter 1: The World of Project Management
True/False
1. A primary purpose of forming projects is to assign the responsibility for
accomplishing some organizational task to a specific person or small
group.
Answer: True
Response: See section 1.1
Level: easy
2. 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.
, Answer: False
Response: See section 1.2
Level: medium
3. Many recent developments in project management are being driven by changes in
the nature of the American workforce.
Answer: False
Response: See section 1.1
Level: medium
4. There has been a growing use of projects to achieve an organization’s
strategic goals
Answer: True
Response: See section 1.1
Level: medium
,5. While general managers have their authority limited to specific areas in the
overall organization, project managers have authority over any activity
required by the project.
Answer: False
Response: See section 1.2
Level: medium
6. Projects are always carried out under conditions of uncertainty.
Answer: True
Response: See section 1.3
Level: easy
7. One can trade-off time and cost when managing a project, but the project’s
technical specifications must be maintained exactly as the client initially
specifies.
Answer: False
Response: See section 1.3
Level: medium
8. Nonnumeric project selection methods are only suitable if numeric methods are
not available.
Answer: False
Response: See section 1.5
Level: medium
9. When using financial methods for selecting projects, the payback period is
the simplest and best method to use.
Answer: False
Response: See section 1.5
Level: medium
10 Rank-ordering a large number of projects can be done with a Q-sort.
, Answer: True
Response: See section 1.5
Level: medium
11. A disadvantage of using the payback period method for selecting projects is that it
cannot reflect the time-value of money.
Answer: True
Response: See section 1.5
Level: medium
12. 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.
Answer: True
Response: See section 1.5
Level: medium
13. A disadvantage of using scoring models rather than financial models for
selecting projects is that they cannot include the project’s profitability.
Answer: False
Response: See section 1.5
Level: medium
14. A PM does not need to understand why a project is selected for funding
because he did not initiate the process.
Answer: False
Response: See section 1.5
Level: medium
15. The main distinction between platform and breakthrough projects is that
the former usually depend on existing technology.
