BUS 517 WK 5 Midterm Exam (100% Answer) - 89663

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1. The advent of project management has been most profound in A. Automobile manufacturing B. Construction C. Information technology D. The U.S. Department of Defense E. Film making 2. A professional organization for project management specialists is the A. PMI B. AMA C. MIS D. IPM E. PMBOK 3. Which of the following is not considered to be a characteristic of a project? A. An established objective B. A clear beginning and end C. Complex tasks D. Only for internal use E. Never been done before 4. Which of the following activities is not considered a project? A. Developing a new software program B. Designing a space station C. Preparing the site for the Olympic Games D. Production of automobile tires E. Developing a new advertising program 5. From among the following activities, which is the best example of a project? A. Processing insurance claims B. Producing automobiles C. Writing a term paper D. Completing a college degree E. All of these are good examples of projects 6. Which of the following constraints is not typically found in managing projects? A. Time B. People C. Cost D. Performance E. Both B and D are not typical constraints 7. Which of the following choices is not one of the stages of a project life cycle? A. Conceptualizing B. Defining C. Planning D. Executing E. Delivering 8. In which of the following stages are project objectives established, teams formed, and major responsibilities assigned? A. Conceptualizing B. Defining C. Planning D. Executing E. Delivering 9. In which of the following stages is a major portion of the physical and mental project work performed? A. Conceptualizing B. Defining C. Planning D. Executing E. Delivering 10. In which of the following stages are you more likely to find status reports, many changes, and the creation of forecasts? A. Conceptualizing B. Defining C. Planning D. Executing E. Delivering 11. Which of the following characteristics is not typical of a project manager? A. Managing a temporary activity B. Possesses in-depth technical knowledge C. Managing a non-repetitive activity D. Manages independently of the formal organization E. Provides a direct link to the customer 12. Which of the following choices is not one of the driving forces behind the increasing demand for project management? A. Compression of the product life cycle B. Knowledge explosion C. Development of third world and closed economies D. More emphasis on the product and less on the customer E. Corporate downsizing 13. Which of the following statements is true? A. Project management is becoming a standard way of doing business B. Project management is increasingly contributing to achieving organizational strategies C. Project management is being used at a consistent percentage of a firm’s efforts D. Both A and B are true E. A, B, and C are all true 14. Project management is ideally suited for a business environment requiring all of the following except A. Accountability B. Flexibility C. Innovation D. Speed E. Repeatability 15. Which of the following is the number one characteristic that is looked for in management candidates? A. Overall intelligence B. Works well with others C. Experience D. Past successes E. Good references 16. A common rule of thumb in the world of high-tech product development is that a six-month project delay can result in a loss of product revenue share of ___ percent. The waste on failed projects and cost overruns is estimated in the neighborhood of A. 10 B. 20 C. 33 D. 45 E. 50 17. The waste on failed projects and cost overruns is estimated in the neighborhood of A. Under $100 Million B. Over $150 Billon C. Under $10 Billion D. Between $90-$100 Billion E. Between $125-$135 Billion 18. Which of the following is the first step in developing a set of strategies designed to best meet the needs of customers? A. Market Research B. Define the Integrated Project Management System C. Environmental Analysis D. Project Selection E. All of the above are correct 19. Integration of project management with the organization takes place with the A. Master budget B. Strategy plan C. Process of managing actual projects D. Both b and c are correct E. A, B, and C are all correct 20. Two dimensions within the project management process are A. Technical and sociocultural B. Cost and time C. Planned and unexpected D. Established and new E. Unique and reoccurring 21. Which of these is not part of the “technical dimension” of project management? A. WBS B. Budgets C. Problem solving D. Schedules E. Status reports 22. Which of these is not part of the “sociocultural dimension” of project management? A. Negotiation B. Resource allocation C. Customer expectations D. Leadership E. Politics 23. Corporate downsizing has increased the trend toward A. Reducing the number of projects a company initiates B. Outsourcing significant segments of project work C. Using dedicated project teams D. Shorter project lead times E. Longer project lead times 24. The importance of project management has increased due to A. The movement of manufacturing operations out of the U.S B. Time to market C. The movement toward flatter and leaner organizations D. Both a and b are true E. A, B, and C are all true 25. Which of the following is not typically the responsibility of a project manger? A. Meeting budget requirements B. Meeting schedule requirements C. Meeting performance specifications D. Coordinates the actions of the team members E. All of these are typical responsibilities 26. A series of coordinated, related, multiple projects that continue over extended time intended to achieve a goal is known as a A. Strategy B. Program C. Campaign D. Crusade E. E. Venture 27. In which of the following stages is it determined what the project will entail, when it will be scheduled, whom it will benefit, and what the budget will be? A. Conceptualizing B. Defining C. Planning D. Executing E. Delivering 28. Competing in a global market is influenced by A. Rapid change B. Innovation C. Time to market D. Politics E. A, B, and C are all true 29. Integration of all project processes and practices to improve Project Management is due to A. Centralization B. Environmental analysis C. Customer Expectations D. Project management system E. The organization’s environment and culture 30. From 1994 to 2009 the trend for projects late or over budget was: A. Significantly better B. Slightly better C. About the same D. Slightly worse E. Significantly worse
Solution Description

1. The advent of project management has been most profound in

A. Automobile manufacturing

B. Construction

C. Information technology

D. The U.S. Department of Defense

E. Film making

2. A professional organization for project management specialists is the

A. PMI

B. AMA

C. MIS

D. IPM

E. PMBOK

 3. Which of the following is not considered to be a characteristic of a project?

A. An established objective

B. A clear beginning and end

C. Complex tasks

D. Only for internal use

E. Never been done before

4. Which of the following activities is not considered a project?

A. Developing a new software program

B. Designing a space station

C. Preparing the site for the Olympic Games

D. Production of automobile tires

E. Developing a new advertising program

5. From among the following activities, which is the best example of a project?

A. Processing insurance claims

B. Producing automobiles

C. Writing a term paper

D. Completing a college degree

E. All of these are good examples of projects

6. Which of the following constraints is not typically found in managing projects?

A. Time

B. People

C. Cost

D. Performance

E. Both B and D are not typical constraints

7. Which of the following choices is not one of the stages of a project life cycle?

A. Conceptualizing

B.

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