Project Management: A Strategic Managerial Approach 10th Edition by Jack R. Meredith test bank

a) become a constant
b) decrease
c) increase
d) be fully removed
 
Ans: b
Section reference: 1.3 The Project Life Cycle
Level: Easy
Bloom’s: Application
AACSB: Analysis
Page: 20
 
38. The chance that project processes or outcomes will not turn out as planned is called __________.
a) risk
b) projecting
c) effort
d) negative outcome
 
Ans: a
Section Reference: Glossary
Level: Easy
Bloom’s: Knowledge
AACSB: Analysis
Page: 20
 
39. Having only partial or no information about the situation or outcomes is called __________.
a) uncertainty
b) risk
c) effort
d) cluelessness
 
Ans: a
Section Reference: 1.3 The Project Life Cycle
Level: Easy
Bloom’s: Knowledge
AACSB: Communication
Page: 20
 
40. When done properly, project management begins with __________.
a) stakeholder interviews
b) scope definition
c) the initial concept for the project
d) budget estimation
 
Ans: c
Section Reference: 1.4 The Structure of This Text
Level: Intermediate
Bloom’s: Application
AACSB: Analysis
Page: 21
 
41. The attributes that characterize a project are __________.
a) purpose, repetition, interdependencies, consistency, uncertainty, conflict, and one-time occurrence
b) life cycle, schedule, cost, uncertainty, independence, uniqueness, and purpose
c) resources, uniqueness, conflict, interdependencies, one-time occurrence, and finite duration,
d) purpose, life cycle, conflict, certainty, independence, performance, and finite duration
 
Ans: c
Section Reference: Glossary
Level: Easy
Bloom’s: Comprehension
AACSB: Analysis
Page: 24
 
Essay Questions
 
 
 
42. Briefly describe the three characteristics that are common to all projects.
 
Ans: The first is that every project is unique. That is, every project has some attributes that make it a one-of-a-kind undertaking. As a result of being unique, projects cannot be reduced to routine. The second is that a project is a one-time occurrence with a well-defined and specific set of desired end results. We know that since every project is unique, it must be a one-time occurrence. The outcomes must be well-defined because these outcomes are used to plan the project. Therefore, without well-defined outcomes, no project plan is possible. The third is that projects have a finite duration. In other words, they have a specific deadline.
 
Section Reference: 1.1 The Definition of a “Project”
Level: Easy
Bloom's: Comprehension
AACSB: Analysis
Page: 4
 
43. Discuss the factors that have contributed to the growth of the Project Management Institute.
 
Ans: The complexity of problems faced by the project manager and the rapid growth in the number project-oriented organizations has contributed to the professionalization of project management. The growth in membership reflects the growth in the use of projects as well as the importance of PMI in the development of project management as a profession. The mission of PMI is to foster the growth of project management and to build professionalism in the field. PMI is responsible for codifying the areas of learning required for competent project management. PMI also offers a certificate called the Project Management Professional (PMP®) that includes a group of education, experience, and testing requirements to be obtained.
 
Section Reference: 1.2 Why Project Management?
Section Reference: 1.2 Why Project Management?
Level: Easy
Bloom’s: Comprehension
AACSB: Communication
Page: 9
 
44. Name four benefits of project management.
 
Ans: The project form of organization allows the project manager to be responsive to (1) the client and the environment, (2) identify and correct problems at an early date (3) make timely decisions about trade-offs between conflicting project goals, and (4) ensure that managers of the separate tasks that comprise the project do not optimize the performance of their individual tasks at the expense of the total project.
 
Section Reference: 1.2 Why Project Management?
Level: Easy
Bloom’s: Knowledge
AACSB: Analysis
Page: 9
 
45. What are some of the benefits of using project management?
 
Ans: Better control, better customer relations, shorter development times, lower costs, higher quality and reliability, higher profit margins, etc. are the benefits of using project management.
 
Section Reference: 1.2 Why Project Management?
Level: Easy
Bloom’s: Application