6807672
Description
Flashcards by David McClelland, updated more than 1 year ago
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Created by David McClelland
about 8 years ago
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| Question | Answer |
| The three common project objectives are time, cost and performance. True or false? | True |
| A program is a collection of portfolios. True or false? | False |
| Every organisation should adopt a "projectised" structure because it is suitable for project management. True or false? | False |
| A functional organisation can be considered to have a "vertical" or "silo" structure. True or false? | True |
| "Your organisation is a local government’s transportation department. Its main responsibility is to ensure the existing road network provides acceptable level of service to the residents. Expansion of the road network is minimal" Which of the following organisational structure is LEAST appropriate for the above scenario? | Projectised structure |
| During which phase of the project life cycle is the project scope statement created? | Definition |
| Which is correct about Work Breakdown Structure (WBS)? | WBS is required in project scoping and integration WBS is a deliverable-oriented hierarchical decomposition of the work to be executed by the project team to accomplish objectives |
| To manage a project effectively, work should be broken down into small pieces. Which of the following does describe how far to decompose the work? | Until it can be realistically estimated Until it has a meaningful conclusion Until it cannot be logically subdivided further |
| A cost-influence curve has the same meaning as an S-curve. True or False? | False |
| How does the "System Thinking" concept view project management? | Project management needs to take into account new information and adapting the plan rather than keeping rigidly to the original |
| All project stakeholders have the same level of influence on the project. True or False? | False |
| Which of the following statements is correct about the stakeholder matrix below? | An example of Stakeholder Group C is a local community directly affected by the project |
| Quality Function Deployment (QFD) involves the identification of the relationships between customer needs and services to be provided by the product/project. True or false? | True |
| One of the techniques to improve the value for money of a project is reducing the cost of the project while maintaining its value. True or false? | True |
| Models are simply a tool that helps managers make decisions. True or false? | True |
| Non-numeric models are generally not suitable for project selection because they are not considered real models. True or false? | False |
| Which of the following is NOT considered a non-numeric project selection model? a. Competitive Necessity b. Sacred Cow c. Expected Monetary Value d. Operating Necessity | c. Expected Monetary Value |
| Non-project companies refer to those companies that do not need to undertake projects. True or false? | False |
| Which of the following statements is NOT correct about the economic evaluation of Projects A and B presented below? a. If ONLY Benefit/Cost Ratio is considered, Project B is more desirable than Project A b. If ONLY Net Present Value is considered, Project A is more desirable than Project B Correct c. Both the Net Present Value and Benefit/Cost Ratio of Project A are more desirable than those of Project B d. Project A and Project B are both economically viable | c.Both the Net Present Value and Benefit/Cost Ratio of Project A are more desirable than those of Project B |
| Which of the following interest factors is required to calculate the present worth of the cash flow diagram below? a. Expected Monetary Value b. Uniform Series Present Worth followed by Single Payment Present Worth c. Internal Rate of Return d. Uniform Series Present Worth | b. Uniform Series Present Worth followed by Single Payment Present Worth |
| The owner of a shed manufacturing company is deciding which of the three possible alternatives he should pursue. So far, the owner has the information presented in the table below. If the owner wishes to use a "decision making under risk" technique to help make the decision, what would be your advice to the owner? a. The owner should use the MAXIMIN approach Correct b. The owner needs to find more information regarding the probability of each outcome c. The owner needs to find more information regarding the probability of each alternative d. The owner should use the MAXIMAX approach | a. The owner should use the MAXIMIN approach |
| Which of the following is an obvious mistake found in the decision tree below? a. There should be only two states of nature, not three b. There must be at least three options, not two c. There should not be a probability value attached to both options d. The probability value should not be same for both options | There should not be a probability value attached to both options |
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