Project Management Flashcards Answers
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Project management can be defined as planning, directing, and controlling resources to meet the technical, cost, and time constraints of the project
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TRUE
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A project may be defined as a series of related jobs usually directed toward some major output and requiring a significant period of time to perform
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TRUE
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The second step in managing a project is writing the Statement of Work
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FALSE- a project starts out as a statement of work
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An event unit package is a subdivision of a project
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FALSE- there is no such item as an event unit package
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Complex projects are often subdivided into a series of tasks that are typically configured to be not longer than several months in duration
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TRUE- a task is a subdivision of a project. It is usually not longer than several months in duration and is performed by one group or organization
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A work breakdown structure is used in project management but it is not used when the critical path method is involved
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FALSE- activities are identified as part of the work breakdown structure. Activities are also the essence of the critical path method. Hence, the work breakdown structure is used when the critical path method is involved
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The fact that organizations are flattening is one of the reasons that project management is important
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TRUE
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The Gantt is an example of a project control chart
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TRUE
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Upper level management must decide between pure, functional, and matrix structures as a way to organize projects
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TRUE
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One of the disadvantages of a pure project organizational structure is that the project manager has full authority over the project
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FALSE- this is an advantage
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One of the advantages of a functional project organizational structure is that a team member can work on several projects
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TRUE
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A matrix project attempts to blend the properties of functional and pure project structures
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TRUE
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A matrix project is often referred to as a "skunkworks"
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FALSE- pure projects are referred to as "skunkworks"
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A disadvantage of a matrix project organizational structure is that a project manager is held responsible for successful completion of the project
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FALSE- this is an advantage
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The critical path of activities in a project is the sequence of activities that form the shortest chain in a project network of activities
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FALSE- longest chain
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CPM is an abbreviation for Critical Path Method
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TRUE
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In CPM the late start time estimate is the latest time you can start an activity and still keep the entire project on schedule
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TRUE
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The critical path in a project is that sequence of activities that consume the longest amount of time in a project network of activities
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TRUE
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The critical path in a CPM analysis is always the shortest path through the network
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FALSE- longest
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Slack activity time is the difference between the early start time and the late finish of a project activity time
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FALSE- slack time is the difference between late start time and early start time
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In a CPM analysis if you subtract the late finish from the early finish the result is the activity's slack time
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FALSE- slack time is the difference between the late start time and early start time
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In a CPM analysis, if you subtract the early start time from the late start the result is slack time
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TRUE
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The critical path in a CPM analysis is found by locating the activities times with zero slack
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TRUE
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Calculating the early start and early finish times for each activity in a CPM analysis does not provide any useful information
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FALSE- savings
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The project indirect costs associated with a project include overhead, facilities, and resource opportunity costs
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TRUE
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The activity direct costs associated with a project might include giving workers overtime to complete a project in less than the expected time
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TRUE
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You are managing a project and need to cut the cost of the project. You decide to transfer workers to another job to cut the project's costs. Costs associated with transferring the workers are an example of project indirect costs.
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FALSE- this is a cost for expediting activity and is therefore a direct cost
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Using the Time-Cost CPM model, the crash time is the shortest possible time allowed for each activity in the project
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TRUE
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In the Time-Cost CPM model, cost is assumed to be a linear function of time
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TRUE
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When reducing the planned duration of a project using the Time-Cost CPM model we select the activity to crash by determining the cost of each alternative and selecting the one whose cost is the greatest
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FALSE- lowest cost
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One of the assumptions made when using CPM is that project activities can be identified with clear beginning and ending points
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TRUE
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One of the assumptions made using CPM is that project activity sequence relationships can be specified and networked
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TRUE
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Project management software available today combines CPM and other scheduling aids, like Gantt charting, to aid in tracking progress of project completion
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TRUE
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A project milestone is a specific event to be reached by a particular point in time
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TRUE
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Breakthrough projects are those that provide fundamental improvements to existing products
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FALSE- breakthroughs involve major changes and entirely new markets. platform projects provide fundamental changes to existing products
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Derivative projects are those which address incremental changes to products
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TRUE
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Earned Value Management EVM is a technique for measuring project progress in an objective manner
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TRUE
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The valuations in an EVM analysis must be either profits or revenue
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FALSE- profits or costs
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EVM has the capability to combine measurements of scope, schedule, and cost in a project
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TRUE
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A project can be subdivided into which of the following?
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Work Packages
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A project starts out as which of the following
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Statement of Work
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What is a work breakdown structure?
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definition of the hierarchy of project tasks, subtasks, and work packages
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In a Gantt chart the horizontal axis is usually which of the following?
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Time
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Which of the following is a graphic project report used in project management?
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Cost and performance tracking schedule
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An advantage of a pure project, where self contained teams work full time on a project is which of the following
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Lines of communication are shortened
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Some of the advantages of a functional project where the project is housed in a functional division include which of the following
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A team member can work on several projects
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A series of projects that are organized in such a way that each project uses people from different functional areas is using which of the following organizational structure
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matrix project
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You are looking at a chart that has the terms BCWS, BCWP, and AC indicating lines on the chart. What kind of chart are you looking at
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EVM chart
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PERT is an abbreviation for which of the following
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Program Evaluation and Review Technique
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You have just been assigned to oversee a series of projects. Functional areas will loan you personnel for each project and separate project managers will be responsible for separate projects. These project managers will report to you. Which project management structure is being used?
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Matrix project
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You have been placed in charge of a large project. Shortened communication lines are required to ensure quick resolution of problems as they arise. You recognize that the project is going to take a lot of time and require a lot of team pride, motivation, and commitment by all members. Which project management structure should you use?
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Pure Project
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For an activity in a CPM analysis, the Early Start time is 8 and the Late Start time is 10. Which of the following statements is true?
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The slack time for this activity is 2
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For an activity in a CPM analysis the Early Finish time is 20 and the late finish time is 20. which of the following is true?
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The activity is on the critical path
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A listing of immediate predecessor activities is important information in a CPM analysis for which of the following reasons
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It specifies the relationships in the CPM network of activities
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You have just performed a CPM analysis and have found that more than one path through the project network has zero slack variables. What can you conclude
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You have more than one critical path
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You know when you have arrived at the optimal solution using the Time-Cost CPM Scheduling model analysis when what happens?
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You have reached the minimum total cost
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In CPM analysis it is generally expected that the relationship between activity direct costs and project indirect costs will be which of the following
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Negatively related
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What is that sequence of activities that consume the longest amount of time in a project network of activities called?
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The Critical Path
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What are Project Milestones
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Specific events to be accomplished by specific points in time
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What do the initials EVM stand for
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Earned Value Management
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What is the most basic requirement of an EVM system
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that is quantify progress using PV and EV
