Exam (elaborations)
Test Bank ITM 750
- Course
- ACC 110
- Institution
- Accounting
Exam of 101 pages for the course ACC 110 at Accounting (Test Bank ITM 750)
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TEST BANK ITM 750 Chapter 1: Introduction to Project Management TRUE/FALSE 1. Until the 1980s, project management primarily focused on providing schedule an d resource data to top management in the military, computer, and construction industries. ANS: T Until the 1980s, project management primarily focused on providing schedule and re source data to top management in the military, computer, and construction industries. Today’s pr oject management involves much more, and people in every industry and every co untry manage projects. PTS: 1 DIF: Difficulty: Easy REF: p.2 OBJ: LO: 1 -1 NAT: BUSPROG: Technology TOP: Introduction KEY: Bloom's: Knowledge 2. A difference between operations and projects is that operations end when th eir objectives have been reached , whereas projects do not. ANS: F Projects are different from operations in that they end when their o bjectives have been reached or the project has been terminated. PTS: 1 DIF: Difficulty: Moderate REF: p.4 OBJ: LO: 1 -2 NAT: BUSPROG: Analytic TOP: What is a Project? KEY: Bloom's: Comprehension 3. Every project should have a well -defined objective. ANS: T A project has a unique purpose. Every project should have a well -defined objective. PTS: 1 DIF: Difficulty: Easy REF: p.6 OBJ: LO: 1 -2 NAT: BUSPROG: Analytic TOP: What is a Project? KEY: Bloom's: Knowledge 4. Projects should be developed in increments. ANS: T A project is developed using progressive elaboration. Projects are ofte n defined broadly when they begin, and as time passes, the specific details of the project become clearer. T herefore, projects should be developed in increments. PTS: 1 DIF: Difficulty: Moderate REF: p.6 OBJ: LO: 1 -2 NAT: BUSPROG: Analytic TOP: What is a Project ? KEY: Bloom's: Comprehension 5. Resources in a project should be used effectively because they are limited. ANS: T A project requires resources, often from various areas. Resources, however, a re limited and must be used effectively to meet project and other corporate goals. PTS: 1 DIF: Difficulty: Moderate REF: p. 7 OBJ: LO: 1 -2 NAT: BUSPROG: Analytic TOP: What is a Project? KEY: Bloom's: Comprehension 6. A project manager’s primary role is to provide the funding for a project . ANS: F A project sponsor usually provides the direction and funding for a project . PTS: 1 DIF: Difficulty: Easy REF: p.7 OBJ: LO: 1 -2 NAT: BUSPROG: Analytic TOP: What is a Project? KEY: Bloom's: Knowledge 7. One of the main reasons why project management is challenging is because of the factor of uncertainty. ANS: T A project involves uncertainty. Every project is unique and thus it is som etimes difficult to define its objectives clearly, estimate how long it will take to complete, or determine h ow much it will cost. This uncertainty is one of the main reasons project management is so challenging. PTS: 1 DIF: Difficulty: Moderate REF: p.7 OBJ: LO: 1 -2 NAT: BUSPROG: Analytic TOP: What is a Project? KEY: Bloom's: Comprehension 8. Questions about how a tea m will track schedule performance is related to a project’s scope. ANS: F Project scope deals with questions such as, “What work will be done as part of the project?”, “What unique product, service, or result does the customer or sponsor expect from the pr oject?”, or “How will the scope be verified?” PTS: 1 DIF: Difficulty: Moderate REF: p.7 OBJ: LO: 1 -2 NAT: BUSPROG: Technology TOP: What is a Project? KEY: Bloom's: Comprehension 9. In order to be realistic, a project manager should always set discrete goals instead of a range of objectives. ANS: F Projects involve uncertainty and limited resources. Thus they rare ly finish according to their original scope, time, and cost goals. Instead of discrete target goals, it is often mo re realistic to set a range of goals. PTS: 1 DIF: Difficulty: Moderate REF: p.8 OBJ: LO: 1 -2 NAT: BUSPROG: Analytic TOP: What is a Project? KEY: Bloom's: Comprehension 10. Managing the triple constraint primarily involves making trade -offs between resources and quality. ANS: FThe benefits of buying summaries with Stuvia:
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