Quizzes 2A-C; Exam 2
When identifying the necessary equipment and supplies, it is important that these resources
meet the requirements of the project
Cutting costs is one way for a business to manage a project's __________ resources
Financial
Balancing the business's objective to make a profit with the interests of all the business's stakeholders is a primary consideration related to the business's
Financial ethics
A financial planner advises a client to make a high-risk investment. This is an unethical action if the
Financial planner's primary motive is to earn a large commission
What question should the purpose statement of a project's statement of work (SOW) answer?
Why are we doing this project?
Which of the following is the first step in developing a work breakdown structure (WBS) for a project:
Divide the workload into independent work packages
Ethical accounting behavior involves using
Due care
Which of the following is an internal human resource that a business can use to perform the work to complete a project
Employees
ABC Builders are two months behind schedule on the mall they are building. Management has decided to "crash" the project. Which of the following is an example of "crashing" a project:
Hire ten additional construction workers
Which of the following is a true statement about a project charter:
It serves as authorization to start the project
One of the roles of ethics in finance is to encourage business employees to
Make the right decisions
Before selecting the right people to work on a project, it is important to identify the
Needed skills
Kevin is planning to paint a house. He draws a simple graph that shows the sequence of tasks that will be done from beginning to end of the project. For example: 1) Buy supplies, 2) Prepare house for painting, 3) Paint house, and so on. This is an example of a
Network diagram
An important aspect of upholding ethical accounting standards involves the ability to be
Objective
The primary purpose of developing a work breakdown structure (WBS) for complex projects is to
Organize the work in a logical sequence
What should accountants demonstrate when collecting accounting information and preparing financial documents?
Professional integrity
When Deidra was developing the statement of work (SOW) for a complex construction project, she included a statement that describes the things that the project will and won't include. This statement is defining the project
Scope
In which section of the statement of work (SOW) document would you find the following information:"AJB International will be responsible for collecting the research for the project, but will not interpret the results."
Scope statement
A primary purpose of preparing a work breakdown structure for a project is to
Streamline the workload
Why is it important to build in a safety net, or padding, when identifying resources?
To plan for the unexpected
Isabelle is developing a document that divides a long-term project into meaningful subprojects and tasks, which she will use to guide the workflow. Isabelle is developing the
Work breakdown structure
Trevor needs to determine the procedures that he needs to follow for a specific project work activity. Trevor can locate that information in the
Work breakdown structure dictionary