Project Management Ch. 1-5

strong matrix

A ________ project is similar in many ways to a standalone project.

facilitator

A __________ is a person who helps people overcome problems, either with technical issues or with other people.

the employees have not all been hired.

A common problem in conflict resolution for new product or facility development is that:

PMOS

A major contribution of __________ is to establish project administration procedures for selecting, initializing and planning, budgeting, and scheduling projects as well as to serve as a repository for reports on the performance of the planning, budgeting, scheduling, and resource allocation processes.

business case

A project begins with a _______ being presented to a funding entity. This document typically includes monetary cost and benefit elements as well as nonmonetary factors such as the strategic justification for the project, expected behavioral impacts, increases in efficiency, service improvements, competitiveness effects, and so on.

their own career goals

A project manager must make trade-off decisions between the project, the firm, and _____.

the boss recognizes the project as a failure and terminates it

A project selected using the sacred cow model is likely to be maintained until successfully completed or until __________.

Sustainability

A project selection criteria that focuses on environmental and social issues is

production line extension

A project selection criteria that focuses on how well new products would fit the firmâs existing product line would be

Power-Interest Grid.

A recommended stakeholder analysis tool is the:

Four years

A small project has a cost of $12,000 to implement and is expected to have annual cash flows of $3,000. What is its payback period?

Delphi system

A technique useful for developing numeric values that are equivalent to subjective, verbal measures of relative value is the __________.

Commitment Assessment Matrix

A useful tool for accessing the level of commitment needed from stakeholders is the ____________.

Easy to plan for when they occur

According to research by Sanchez and Robert (2010), which of the following is not a reason why strategic benefits may be difficult to appraise?

drive to complete the task

According to the authors, of all the characteristics desirable in a project manager, __________ is the most important.

dividing the components of a system into smaller and smaller elements

According to the authors, the analytic method, when applied to systems, focuses on __________.

negotiation

According to the authors, the favored technique for resolving conflict is __________.

whether or not the task will be done

According to the authors, the nature of negotiation as it applies to project management is the realization that few of the conflicts arising in projects have to do with __________.

scope, cost, time

According to the authors, the prime objectives of project management are

compadre

According to the textbook, in Latin America, the __________ system leads a manager to give preference to relatives and friends when hiring.

a majority of

Actual experience with project management indicates that _________ organizations using it claim to experience better customer relations and increase in their ROI.

pro forma

Financial forecasts are reported as __________ financial statements.

a portfolio

Firms usually have two or more projects and this collection of projects is referred to as __________.

Operating necessity projects have priority over competitive necessity projects

For a project selected using nonnumeric models, identify the true statement regarding relative priorities for project selection.

Pick the highest performers and assign them to the virtual team.

Gratton also offers some rules for success when organizations find they must use geographically dispersed virtual teams for some of their projects. Which of the following is not one of those rules? a. Only virtual teams use for projects that are challenging and interesting. b. Pick the highest performers and assign them to the virtual team. c. Include a few members in the team who already know each other. d. Encourage frequent communication, but not social gatherings.

When disagreements occur, by meeting together in an atmosphere of trust and negotiation to resolve problems

How can effective, lasting business relationships be built across different cultures?

d. assembly line manufacturing of automobiles

Identify the example that would not usually be considered a project. a. building a house b. developing a computer software program c. hosting a wedding reception d. assembly line manufacturing of automobiles

Goes Up

If a company predicted rate of inflation goes down (deflation), what happens to the net present value (NPV) of their projects?

Goes Down

If a company raises their hurdle rate, what happens to the net present value (NPV) of their projects?

earliest due date

If a resource conflict arises between two high-priority projects, precedence is typically given to the project with the __________.

composite

If both functional and projectized divisions coexist in a firm, this would result in the ______ organizational structure.

fail to cover its required rate of return

If the NPV for a project is <0, it indicates that the project will __________.

matrix

If the project manager controls when and what people do while the functional managers control who will be assigned to the project and what technology will be used, the __________ organizational form is probably being used.

breakthrough

In a project portfolio, a project that involves a new technology or even a disruptive technology that is known to the industry would serve as an example of a __________ project

Forcing (using brute force)

In general, what is the most ineffective method for solving conflicts?

Projectized

In which organizational structure does the project manager have the highest level of authority?

organizationan's overall strategy

Indeed, effectively executing the PMA's primary role of managing trade-offs requires that the PM make trade-offs in a way that best supports the _______.

stakeholders

Individuals or groups with a special interest in a project are called __________.

Project Management Office

It is recommended for an organization to have a ______ that is charged with improving the âmaturityâ or overall effectiveness of the organizationâs project management processes.

communicating

Most of the time spent by a project manager is spent __________.

can affect projects in many ways.

National Culture

ethical missteps

There are probably more opportunities for __________ in handling conflicts and negotiations than in any other aspect of project management.

b. Bicker

There are several words that are synonyms for negotiate. Which of the following is not quoted by the authors? a. Arbitrate b. Bicker c. Conciliate d. Haggle

development engineer

This personâs task is the efficient production of the product or process the project engineer has designed, including responsibility for manufacturing engineering, design and production of code, unit testing, production scheduling, and other production tasks.

mitigate

Partnering is an attempt to __________ the risk associated with subcontracting.

Project Cyclone

Project Typhoon has a net present value of $10,000 and a profitability index of 1.01. Project Cyclone has a net present value of $10,000 and a profitability index of 1.10. Project SurfâsUp has a net present value of $10,000 and a profitability index of 1.05. If only one project could be undertaken, the organization should select __________.

the use of partnerships and charters is growing slowly.

Today outsourcing is growing rapidly, but:

schedules

Toward the end of the project lifecycle, conflict intensity is the greatest with respect to __________.

establishing pm procedures, offering training, mentoring project managers, and keeping reports of projects activities.

Typical responsibilities of the PMO include:

Stay within budget, within time constraints, within scope

What are the three primary objectives of projects?

Diversification of technical risk, avoidance of capital investment, reducing political risk, and pooling of complementary knowledge

What is a common goal for partnering among organizations?

Confrontation and problem-solving

What is the most effective method for solving conflicts?

Be ready to negotiate resource tradeoffs, such as subcontracting, if necessary

What should a PM do to ensure adequate resources are available for project success?

the initial concept for the project

When done properly, project management begins with __________.

uncertainity

When the decision makerâs information is not complete, he/she will have to make a decision under conditions of __________.

functional management

When the standard departments of the organization represent individual disciplines such as engineering, marketing, purchasing, and so on, the organization follows __________.

Goals, expectations, authority, and interpersonal conflicts

Which categories of conflicts are most common throughout the project life cycle?

c. Can handle non-numeric criteria

Which of the following is not a disadvantage that favors the use of weighted scoring models? a. scores relative measures b. easy to include too many factors c. Can handle non-numeric criteria d. can only include profits in a non-numeric fashion

d. limited scope and budget

Which of the following is not a likely attribute of quasi-projects? a. lack of specificity in project objective b. a designated team working on the project c. undefined performance perimeters d. limited scope and budget

c. The accounting data is possibly inaccurate

Which of the following is not an advantage of the discounted cash flow approach to project selection? a. simple to use and understand b. accounting data is usually available c. The accounting data is possibly inaccurate d. can be adjusted to account for project risks

number of people working on the project

Which of the following is not one of the four dimensions of project success? a. opening new opportunities for the future b. number of people working on the project c. impact on the customer d. business impact on the organization

Invent options for mutual gain before trying to reach an agreement

Which of the following is not one of the four points of principled negotiation? a. Insist on using objective criteria b. Focus on interest not positions c. Invent options for mutual gain before trying to reach an agreement d. Separate people from the problem

Programs, projects, tasks

_____ are broken down into _______, which can be further broken down into _______.

concurrent

__________ engineering refers to the use of a design team that includes design and manufacturing engineers as well as staff from other relevant areas of the business.

Projectitis

__________ is defined as inappropriately intense loyalty to the project.

conflict

__________ is the process which begins when one party perceives that the other has frustrated, or is about to frustrate, some concern of his.

Suboptimization

__________ is the term that describes the optimization of a sub-element of a system, perhaps to the detriment of the overall system.

technical

__________ problems are comparatively rare during project phase-out because most have been solved or bypassed earlier.

Charters

___________ are the agreements between groups partnering on large endeavors.

Micromanagement

___________ is when someone takes over the project managerâs job by exercising extremely close supervision over every action the project manager takes, or will actually tell the project manager precisely what to do.

Increased attention to relative importance of each selection criterion.

The Weighted Factor Scoring Model has the advantage of:

principled

The __________ approach to negotiation aims to achieve a win-win result.

Postional

The __________ approach to negotiation states immediate wants on the assumption that the environment is static.

WBS

The __________ is a basic project document that describes all the work that must be done to complete the project and forms the basis for costing, scheduling, and work responsibility.

hurdle rate

The __________ is the interest rate set by an organization as the minimum acceptable rate of return for a project

Manhattan

The __________ project is generally credited with beginning the era of modern project management.

environment

The __________ represents everything outside the system that delivers inputs or receives outputs from the system.

APM

The ___________________ is a project management organization headquartered in the United Kingdom, which started in the early 1970s and serves all of Europe.

opportunity cost

The __________is the value of an opportunity foregone.

interfaces

The boundaries between departments or functions represent __________.

risk

The chance that project processes or outcomes will not turn out as planned is called __________.

slow-rapid-slow progress

The conventional project life cycle can be described as a pattern characterized by ____________.

payback period

The drawback of the __________ model is that it fails to consider cash flows obtained once the initial investment has been recovered.

analytic; systems

The functional manager uses the __________ approach and the PM uses the __________ approach.

Pareto-optimal

The general objective of a __________ solution to conflict is to find a solution such that no party can be made better off without making another party worse off by the same amount or more.

both generalist/facilitator and have a high level of technical competence in the science of the project

The ideal project manager should be __________.

planning, scheduling, monitoring, and control

The largest amount of effort applied to a project is during the ________ phase.

project council

The main purpose of the ________ is to establish and articulate a strategic direction for those projects spanning internal or external boundaries of the organization, such as cross-departmental or joint venture.

project management maturity

The mastery of the skills required to manage projects competently is referred to in the literature as __________.

expert judgment of the project manager and project team

The most common method of identifying stakeholders is _____.

main program

The need to manage interfaces and to correct incompatibilities is likely to create technical conflicts during the __________ phase of the project lifecycle.

technical and administrative

The project manager needs __________ credibility.

the characteristics of terrain will be different for different segments.

The project to construct a highway is unique because __________.

project build-up

The total level of conflict in the project lifecycle is highest during the __________ stage.

numeric and nonnumeric

The two basic types of project selection models identified in the text are ________.

Managing tradeoffs and anticipating and addressing risks to the project

The two primary tasks of the Project Manager are what?

managerial support

The Ãstebro study (2004) of R&D projects found that all the characteristics below were excellent predictors of project commercial success, except __________.

A systems approach

As compared to the functional manager, the project manager should more often use what approach to solving problems?

450,000

As of 2017, PMI has approximately ____________ members.

work packages

As sub-elements of a task, these __________ need to be accomplished to achieve the objectives of the task.

work

During project build-up, if the project is functionally tied down, the project manager seeks a commitment of __________ from the functional departments.

a highly detailed set of plans

During project build-up, the project should move from a general concept to __________.

resource allocation and scheduling

During project formation, the organizational structure selected will have a major impact on the ways in which conflicts are handled. Lack of clarity about the relative power/influence/authority of the PM and the functional managers is a major component of all conflicts involving __________.

Schedule

During the buildup stage of a project life cycle, __________ is the dominant goal of many project managers.

scope

During the final or phaseout stage of the project lifecycle, __________ is the dominant goal of many project managers.

cost or the use of resources

Earned value is based on the concept that the percentage of project completion is closely correlated with __________.

directly to the goals and strategy of the organization

Effective Project Portfolio Management attempts to link the organizational's projects________________________.

Good technical skills, tough management approach, good terms with senior management, broad background including mostly success & few failures, working well under pressure/stress, positive attitude & consensus building

Attributes of successful project managers generally include which of the following? a. Prior successes, no failures, honesty, pride in their work, connections at top levels of organization b. Strong management background, friends in upper management, little technical skills, good negotiating skills c. Flexibility, friendliness, good schedule management, friends at top of organization d. Good technical skills, tough management approach, good terms with senior management, broad background including mostly success & few failures, working well under pressure/stress, positive attitude & consensus building

generally intuitive.

Common methods to select project forms are:

Confusion in general

Common problems in the first stage, Project Formation, are due to:

the level of frustration is lowered to the point where no action is contemplated, by either party, against the other party.

Conflicts are satisfied when:

conflicts between allies

Conflicts within the organization typically differ from conflicts with outsiders in one important way. As far as the organization is concerned, these conflicts are __________.

profits and profitability.

Numeric project selection models generally focus on:

d. They plan on cutting corners on work and material, or forcing subsequent contract changes to make up the cost

Occasionally, organizations will approve projects that are forecast to lose money when fully costed and sometimes even when only direct costed. Which of the following is not a good reason for doing this? a. acquire knowledge concerning a new technology b. get the organization's foot in the door c. improve competitive position d. They plan on cutting corners on work and material, or forcing subsequent contract changes to make up the cost

irreparable harm

One requirement for the conflict/resolution methods described is that they must allow the conflict to be settled without __________ to the projectâs objectives.

To the parent organization, to the project and the client, to the members of the project team

Project managerâs responsibilities are broad and fall into three separate areas. Which of the following lists the correct areas?

earlier

Project priorities are more of a concern in the __________ stages of the project life cycle.

Triple Constraint

Projects are bound by the three objectives of scope, time, and cost. These are collectively referred to as the _______________________.

technological

Real options seek to reduce which of the following risks in projects?

problem-oriented; discipline-oriented

Research has shown that the chances for successful completion of a multidisciplinary project are greatly increased if project team members are _____ rather than _______,

uncertainty plagues all aspects of the work and is present in all stages of PM.

Risk is generally believed to focus on profits, but:

The inability to account for multiple decision criteria.

Scoring models are most often used to overcome this disadvantage of profitability models

Participative

TQM and Six Sigma are good examples of ____________ programs.