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TEST BANK For Project Management in Practice, 7th Edition by Jack R. Meredith, Verified Chapters 1 - 8, Complete Newest Version $12.49   Add to cart
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TEST BANK For Project Management in Practice, 7th Edition by Jack R. Meredith, Verified Chapters 1 - 8, Complete Newest Version
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TEST BANK For Project Management in Practice, 7th Edition by Jack R. Meredith, Verified Chapters 1 - 8, Complete Newest Version TEST BANK For Project Management in Practice, 7th Edition by Jack R. Meredith, Verified Chapters 1 - 8, Complete Newest Version Test Bank For Project Management in Practic...

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  • April 16, 2024
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Copyright ©2017 John Wiley & Sons, Inc. Test Bank For Project Management in Practice, 7th Edition Meredith Chapter 1 -8 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 Copyright ©2017 John Wiley & Sons, Inc. 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 metho d 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. Copyright ©2017 John Wiley & Sons, Inc. 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 al l 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. Copyright ©2017 John Wiley & Sons, Inc. Answer: True Response: See section 1.6 Level: medium 16. The main distinction between platform and derivative projects is that th e 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 20. A similarity between project management and general management is the tendency to ―manage by exception.‖

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