Chapter 4: Project Integration Management Part 2 – Flashcards
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It is necessary that IT project managers have prior technical experience in creating and managing IT products
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False
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Corrective actions reduce the probability of negative consequences associated with project risks, while preventive actions should result in improvements in project performance
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False
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A Gantt chart is the same as a project management plan
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False
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The organization should complete low-priority projects before high-priority ones, if the low-priority one takes less time
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False
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The _____ section of the project management plan describes how to monitor project progress and handle changes
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Project controls
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Organizational process asset updates are an important output of the closing process of a project
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True
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The first step in determining the NPV is to _____
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Determine the estimated costs and benefits for the life of the project and the products it produces
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Opportunities and directives are essentially the same thing
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False
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_____ analysis is a method of calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time
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Net present value
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The _____ is the minimum acceptable rate of return on an investment
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Required rate of return
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In the _____ stage of selecting information technology projects, organizations select information technology projects
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Resource allocation
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NPV analysis is a method for making equal comparisons for multi-year projects
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True
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Project integration management must occur just within the context of a particular project
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False
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In project integration management, directing and managing project execution involves carrying out the project management plan by performing the activities included in it
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True
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Projects that arise as a result of problems and directives must respond quickly to avoid hurting an organization's business
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True
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The introduction or overview of a project must only include a list of definitions and acronyms
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False
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A project's internal rate of return can be determined by finding what discount rate results in an NPV of ______ for the project
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Zero
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The majority of the time on a project is usually spent on _____, as is most of the project's budget
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Execution
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_____ involves identifying and collecting the functional and physical design characteristics of products and their support documentation, and ensures that the descriptions of the project's products are correct and complete
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Configuration management
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Payback period is the amount of time it will take to recoup, in the form of net cash inflows, the total dollars invested in a project
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True
