Test Bank For Project Management in Practice 7th Edition by Jack R. Meredith, Scott M. Shafer, Complete Latest Guide.

Test Bank For Project Management in Practice 7th Edition by Jack R. Meredith, Scott M. Shafer, Complete Latest Guide. 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. Answer: True Response: See section 1.6 Level: medium 16. The main distinction between platform and derivative projects is that the latter depend on existing technology. Answer: False Response: See section 1.6 Level: medium 17. One reason for the emphasis on project management is that tasks fit neatly into business-as-usual. Answer: False Response: See section 1.1 Level: easy 18. Programs are subdivisions of projects. Answer: False Response: See section 1.1 Level: easy 19. Projects are subdivisions of programs. Answer: True Response: See section 1.1 Level: easy .