Project Management (Ch. 1-3, 6) – Flashcards
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According to the authors, the prime objectives of project management are cost, time and
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performance
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The text identifies two basic types of project selection models. They are
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Numeric and nonnumeric
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If the NPV for a project is > 0, it indicates that the project will
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Cover its hurdle rate
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The process of modeling a problem seeks to carve away the ________ from the bones of a problem
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unwanted reality
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Reference to an external standard is necessary when taking an ________ measurement.
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objective
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According to Wheelwright and Clark, ________ projects have objectives or deliverables that are only incrementally different in both product and process from existing offerings.
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derivative
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The RFP solicitation document includes information about price and ________.
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methodology
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The mechanism by which the people in organizations make decisions is known as ________.
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politics
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According to the authors, a Type 2 project is
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not well understood and not routine
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The project manager needs to possess technical and ________ credibility
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administrative
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During the ________ stage of the project lifecycle, there is no significant difference in the importance that project managers place on the three goals of cost, time, and performance.
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Design or formation stage
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A set of interrelated components that accept inputs and produce outputs in a purposeful manner is called a ________.
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system
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During the build-up stage of a project lifecycle, __________is the dominant goal of many project managers.
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schedule
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Culture contains the following four elements: technology, ________, language, and arts.
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institutions
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Art is the aspect of culture that communicates the ________ of the culture
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aesthetic values
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Within the organization, conflicts are viewed as
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Conflicts between allies
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If a resource conflict arises between two high-priority projects, precedence is typically given to the project with the
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Earliest due date
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During project formation, lack of ________ about the relative power/influence/authority of the PM and the functional managers is a major component of all conflicts involving technical decisions, resource allocation, and scheduling.
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clarity
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The project should move from a general concept to a highly detailed set of plans during the project ________ phase.
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build-up
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During project build-up, the project manager seeks a commitment of people from the functional departments when the ________ matrix organizational structure is used to manage the project.
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strong
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During project build-up, the project manager seeks a commitment of work from the functional departments when the ________ matrix organizational structure is used to manage the project.
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weak
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The need to manage technical interfaces and to correct incompatibilities is likely to create technical conflicts during the __________ phase of the project lifecycle.
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main program
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The total level of conflict in the project lifecycle is the highest during the project _____ stage.
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build-up
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