Test Bank For Project Management in Practice, 7th Edition by Meredith & Shafer, All 8 Chapters ||Complete A+ Guide

,TEST BANK FOR
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Project Management in Practice, 7th Edition Meredith
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Chapter q1-8

Chapter 1: The World of Project Management
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True/False
1. A qprimary qpurpose qof qforming qprojects qis qto qassign qthe qresponsibility qfor
qaccomplishing qsome qorganizational qtask qto qa qspecific qperson qor qsmall

qgroup.



Answer: qTrue
Response: qSee qsection q1.1
qLevel: qeasy




2. One qof qthe qfew qsimilarities qbetween qproject qmanagement qand qgeneral
qmanagement qis qthat qboth qexist qin qthe qwell-defined qorganizational qstructure qof

qsuperior/subordinates qin qthe qoverall qorganization.



Answer: qFalse
Response: qSee qsection q1.2
qLevel: qmedium




3. Many qrecent qdevelopments qin qproject qmanagement qare qbeing qdriven qby qchanges
qin qthe qnature qof qthe qAmerican qworkforce.



Answer: qFalse
Response: qSee qsection q1.1
qLevel: qmedium




4. There qhas qbeen qa qgrowing quse qof qprojects qto qachieve qan qorganization’s
qstrategic qgoals



Answer: qTrue
Response: qSee qsection q1.1
qLevel: qmedium

,5. While qgeneral qmanagers qhave qtheir qauthority qlimited qto qspecific qareas qin qthe
qoverall qorganization, qproject qmanagers qhave qauthority qover qany qactivity

qrequired qby qthe qproject.



Answer: qFalse
Response: qSee qsection q1.2
qLevel: qmedium




6. Projects qare qalways qcarried qout qunder qconditions qof quncertainty.

Answer: qTrue
Response: qSee qsection q1.3
qLevel: qeasy




7. One qcan qtrade-off qtime qand qcost qwhen qmanaging qa qproject, qbut qthe qproject’s
qtechnical qspecifications qmust qbe qmaintained qexactly qas qthe qclient qinitially

qspecifies.



Answer: qFalse
Response: qSee qsection q1.3
qLevel: qmedium




8. Nonnumeric qproject qselection qmethods qare qonly qsuitable qif qnumeric qmethods
qare qnot qavailable.



Answer: qFalse
Response: qSee qsection q1.5
qLevel: qmedium




9. When qusing qfinancial qmethods qfor qselecting qprojects, qthe qpayback qperiod qis
qthe qsimplest qand qbest qmethod qto quse.



Answer: qFalse
Response: qSee qsection q1.5
qLevel: qmedium




10 Rank-ordering qa qlarge qnumber qof qprojects qcan qbe qdone qwith qa qQ-sort.

, Answer: qTrue
Response: qSee qsection q1.5
qLevel: qmedium




11. A qdisadvantage qof qusing qthe qpayback qperiod qmethod qfor qselecting qprojects qis
qthat qit qcannot qreflect qthe qtime-value qof qmoney.



Answer: qTrue
Response: qSee qsection q1.5
qLevel: qmedium




12. A qdisadvantage qof qusing qthe qdiscounted qcash qflow qmethod q(or qnet qpresent
qvalue) qfor qselecting qprojects qis qthat qit qignores qall qnon-monetary qfactors

qassociated qwith qthe qproject qexcept qrisk.



Answer: qTrue
Response: qSee qsection q1.5
qLevel: qmedium




13. A qdisadvantage qof qusing qscoring qmodels qrather qthan qfinancial qmodels qfor
qselecting qprojects qis qthat qthey qcannot qinclude qthe qproject’s qprofitability.



Answer: qFalse
Response: qSee qsection q1.5
qLevel: qmedium




14. A qPM qdoes qnot qneed qto qunderstand qwhy qa qproject qis qselected qfor qfunding
qbecause qhe qdid qnot qinitiate qthe qprocess.



Answer: qFalse
Response: qSee qsection q1.5
qLevel: qmedium




15. The qmain qdistinction qbetween qplatform qand qbreakthrough qprojects qis qthat
qthe qformer qusually qdepend qon qexisting qtechnology.