A common rule of thumb in the world of high-tech product development is that a sixmonth project delay can result in a loss of product revenue share of ___
... [Show More] percent. The waste on
failed projects and cost overruns is estimated in the neighborhood of
A. 10
B. 20
C. 33
D. 45
E. 50
A common rule of thumb in the world of high-tech product development is that a six-month
project delay can result in a 33 percent loss in product revenue share.
AACSB: Analytic
Bloom's: Comprehension
Learning Objective: The Importance of Project Management
Level: Medium
17. The waste on failed projects and cost overruns is estimated in the neighborhood of
A. Under $100 Million
B. Over $150 Billon
C. Under $10 Billion
D. Between $90-$100 Billion
E. Between $125-$135 Billion
The need for elevating performance continues to challenge the project management
profession. The waste on failed projects and cost overruns is estimated in the neighborhood of
over $150 billion!
AACSB: Analytic
Bloom's: Knowledge
Learning Objective: What is a Project?
Level: Easy
Chapter 01 - Modern Project Management
1-26
18. Which of the following is the first step in developing a set of strategies designed to best
meet the needs of customers?
A. Market Research
B. Define the Integrated Project Management System
C. Environmental Analysis
D. Project Selection
E. All of the above are correct
Project management is critical both to development of customized products and services and
to sustaining lucrative relationships with customers.
AACSB: Analytic
Bloom's: Knowledge
Learning Objective: The Importance of Project Management
Level: Easy
19. Integration of project management with the organization takes place with the
A. Master budget
B. Strategy plan
C. Process of managing actual projects
D. Both b and c are correct
E. A, B, and C are all correct
Since projects are the modus operandi, strategic alignment of projects is of major importance
to conserving and effective use of organization resources. Selection criteria need to ensure
each project is prioritized and contributes to strategic goals.
AACSB: Analytic
Bloom's: Knowledge
Learning Objective: Project Management Today - An Integrated Approach
Level: Medium
Chapter 01 - Modern Project Management
1-27
20. Two dimensions within the project management process are
A. Technical and sociocultural
B. Cost and time
C. Planned and unexpected
D. Established and new
E. Unique and reoccurring
There are two dimensions within the actual execution of projects (see Figure 1.3. The
Technical and Sociocultural Dimensions of the Project Management Process on page 15).
AACSB: Analytic
Bloom's: Knowledge
Learning Objective: Project Management Today - An Integrated Approach
Level: Easy
21. Which of these is not part of the "technical dimension" of project management?
A. WBS
B. Budgets
C. Problem solving
D. Schedules
E. Status reports
See Figure 1.3. The Technical and Sociocultural Dimensions of the Project Management
Process on page 15.
AACSB: Analytic
Bloom's: Knowledge
Learning Objective: Project Management Today - An Integrated Approach
Level: Medium
Chapter 01 - Modern Project Management
1-28
22. Which of these is not part of the "sociocultural dimension" of project management?
A. Negotiation
B. Resource allocation
C. Customer expectations
D. Leadership
E. Politics
See Figure 1.3. The Technical and Sociocultural Dimensions of the Project Management
Process on page 15.
AACSB: Analytic
Bloom's: Comprehension
Learning Objective: Project Management Today - An Integrated Approach
Level: Medium
23. Corporate downsizing has increased the trend toward
A. Reducing the number of projects a company initiates
B. Outsourcing significant segments of project work
C. Using dedicated project teams
D. Shorter project lead times
E. Longer project lead times
Companies outsource significant segments of project work, and project managers have to
manage not only their own people but also their counterparts in different organizations.
AACSB: Analytic
Bloom's: Comprehension
Learning Objective: The Importance of Project Management
Level: Medium
Chapter 01 - Modern Project Management
1-29
24. The importance of project management has increased due to
A. The movement of manufacturing operations out of the U.S
B. Time to market
C. The movement toward flatter and leaner organizations
D. Both a and b are true
E. A, B, and C are all true
One of the most significant driving forces behind the demand for project management is the
shortening of the product life cycle. In today's flatter and leaner organizations, where change
is a constant, project management is replacing middle management as a way of ensuring that
things get done. Corporate downsizing has also led to a change in the way organizations
approach projects. Companies outsource significant segments of project work, and project
managers have to manage not only their own people but also their counterparts in different
organizations.
AACSB: Analytic
Bloom's: Synthesis
Learning Objective: The Importance of Project Management
Level: Difficult
25. Which of the following is not typically the responsibility of a project manger?
A. Meeting budget requirements
B. Meeting schedule requirements
C. Meeting performance specifications
D. Coordinates the actions of the team members
E. All of these are typical responsibilities
They must ensure that appropriate trade-offs are made between the time, cost, and
performance requirements of the project.
AACSB: Analytic
Bloom's: Knowledge
Learning Objective: What is a Project?
Level: Easy
Chapter 01 - Modern Project Management
1-30
26. A series of coordinated, related, multiple projects that continue over extended time
intended to achieve a goal is known as a
A. Strategy
B. Program
C. Campaign
D. Crusade
E. Venture
A program is a group of related projects designed to accomplish a common goal over an
extended period of time.
AACSB: Analytic
Bloom's: Comprehension
Learning Objective: What is a Project?
Level: Easy
27. In which of the following stages is it determined what the project will entail, when it will
be scheduled, whom it will benefit, and what the budget will be?
A. Conceptualizing
B. Defining
C. Planning
D. Executing
E. Delivering
The level of effort increases, and plans are developed to determine what the project will
entail, when it will be scheduled, whom it will benefit, what quality level should be
maintained, and what the budget will be.
AACSB: Analytic
Bloom's: Comprehension
Learning Objective: What is a Project?
Level: Easy
Chapter 01 - Modern Project Management
1-31
28. Competing in a global market is influenced by
A. Rapid change
B. Innovation
C. Time to market
D. Politics
E. A, B, and C are all true
Competing in a global market influenced by rapid change, innovation, and time to market
means organizations manage more and more projects.
AACSB: Analytic
Bloom's: Comprehension
Learning Objective: Project Management Today - An Integrated Approach
Level: Easy
29. Integration of all project processes and practices to improve Project Management is due
to
A. Centralization
B. Environmental analysis
C. Customer Expectations
D. Project management system
E. The organization's environment and culture
Centralization entails integration of all project processes and practices to improve project
management.
AACSB: Analytic
Bloom's: Application
Learning Objective: Project Management Today - An Integrated Approach
Level: Easy [Show Less]
