Project Management - Chapter 4

False

A project management plan is synonymous with a Gantt chart.

Work Breakdown Structure

A project manager usually organizes the project work into several work packages using a(n) ____________________.

Statement of work

A(n) ____ is a document that describes the products or services to be created by the project team.

CCB

A(n) ____ is a formal group of people responsible for approving or rejecting changes to a project.

Baseline

A(n) __________ is the approved project management plan plus approved changes.

Dicount Rate

A(n) ____________________ is the rate used in discounting future cash flow.

True

As projects progress, the organization must reevaluate the need, funding, and will for each project to determine if the project should be continued, redefined, or terminated.

Business Service Management

BSM stands for __________ software tools.

False

Contract arbitration procedures describe the methodology for making sure the contract has been completed, including delivery of goods and services and payment for them.

False

Corrective actions reduce the probability of negative consequences associated with project risks.

False

Directing and managing project execution involves overseeing project work to meet the performance objectives of the project.

Information System

Key tools and techniques for monitoring and controlling project work include using a project management methodology and a project management __________.

False

Opportunities and directives are essentially the same things.

True

Project management plans document project planning assumptions and decisions regarding choices.

False

Project teams typically prepare presentations with database software.

Software Project Management Plan

The Institute of Electrical and Electronics Engineers (IEEE) Standard 1058-1998 describes the contents of a(n) ____________________.

Project Schedule Information

The ____ section of the project management plan might include a Gantt chart.

True

The key deliverables section of the project management plan should describe the quality expectations for the product deliverables.

True

The number of interfaces can increase exponentially as the number of people involved in a project increases.

False

The organization should complete low-priority projects before high-priority ones, if the low-priority ones take less time.

7

There are ____ main processes involved in project integration management.

Project sponsors

Typically, which of the following groups is most interested in ensuring they receive delivery of the final products, services, or results they expected when they authorized the project?

Low-end or midrange project management software products are suitable for coordinating the work of a small project team.

Which of the following statements about the use of software that assists in project integration management is true?

Goal Seek

You can use the ____________________ function in Excel to determine the IRR quickly.

Net Present Value

____ 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.

Interface

__________ management involves identifying and managing the points of interaction between various elements of the project.

Opportunites

____________________ are chances to improve the organization.

Interface Management

____________________ involves identifying and managing the points of interaction between various elements of the project.

Return On Ivestment

____________________ is the result of subtracting the project costs from the benefits and then dividing by the costs.