Project Management Pinto 2E True & False Solution

EPE 431 Chapter 11) Projects, rather than repetitive tasks, are now the basis for most value-added in business. Answer: TRUE 2) Projects have a process orientation. Answer: FALSE 3) A typical project stays within functional and organizational boundaries. Answer: FALSE 4) The special nature of projects relieves project managers from their routine of planning, organizing, motivating, directing, and controlling. Answer: FALSE 5) A project exists outside of the standard line organization. Answer: TRUE 6) The initial goal and technical specifications of the project are developed during the planning stage. Answer: FALSE 7) Client interest in a project is highest during the termination and conceptual phases. Answer: TRUE 8) The classic triple constraint standard for project performance is composed of time, cost, and client acceptance. Answer: FALSE 9) The business success dimension of project success determines whether the project achieved significant commercial success. Answer: TRUE 10) The Atkinson model for assessing project success gathers input from all of the project's stakeholders. Answer: TRUE 11) The use of benchmarking allows companies that are relatively immature at project management to achieve quantum leaps of improvement. Answer: FALSE 12) Most effective project maturity models chart both a set of standards that are currently accepted as state-of-the-art as well as a process for achieving significant movement towards these benchmarks. Answer: TRUE 13) Acme uses no recognizable project management processes and has entertaining project meetings because each member has a unique way of reporting progress or lack thereof. Acme is most likely at the moderate level in the generic project management maturity model. Answer: FALSE 14) Any organization, no matter how initially unskilled in project management, can begin to chart a course toward the type of project organization they wish to become. Answer: TRUE 15) A company's culture has little impact on whether projects are successfully implemented. Answer: FALSE Diff: 2 EPE 431 Chapter 2 1) The same project managed in the same fashion may succeed in one organization but fail in another. Answer: TRUE Diff: 2 Section: 2.0 Introduction Skill: Factual AACSB Tag: Reflective 2) Most companies are well suited to allow for successful completion of projects in conjunction with other on-going corporate activities. Answer: FALSE Diff: 1 Section: 2.0 Introduction Skill: Factual AACSB Tag: Reflective 3) Developing vision and mission statements is an important tactical step in project management. Answer: FALSE Diff: 2 Section: 2.1 Projects and Organizational Strategy Skill: Definition AACSB Tag: Reflective 4) One element of strategic management is cross-functional decision-making. Answer: FALSE Diff: 1 Section: 2.1 Projects and Organizational Strategy Skill: Definition AACSB Tag: Reflective 5) Strategy, goals, and programs support the organizational mission. Answer: TRUE Diff: 1 Section: 2.1 Projects and Organizational Strategy Skill: Definition AACSB Tag: Reflective 6) Stakeholder analysis looks at a project's customers and determines whether their needs are being met. Answer: FALSE Diff: 2 Section: 2.2 Stakeholder Management Skill: Definition AACSB Tag: Reflective 7) Suppliers and competitors are possible intervenor groups in a project. Answer: TRUE Diff: 1 Section: 2.2 Stakeholder Management Skill: Factual AACSB Tag: Reflective 8) An important step in stakeholder management is the assessment of your own capabilities. Answer: TRUE Diff: 1 Section: 2.2 Stakeholder Management Skill: Factual AACSB Tag: Reflective 9) Policies and procedures are examples of an organization's external environment. Answer: FALSE Diff: 2 Section: 2.4 Forms of Organizational Structure Skill: Definition AACSB Tag: Reflective 10) A project organization does not have functional departments. Answer: FALSE Diff: 1 Section: 2.4 Forms of Organizational Structure Skill: Definition AACSB Tag: Reflective 11) A project management office is designed to oversee or improve the management of projects without stripping responsibility from the project manager. Answer: TRUE Diff: 2 Section: 2.5 Project Management Offices Skill: Factual AACSB Tag: Reflective 12) Organizational culture can be influenced a variety of ways, including by reward systems and key organizational members. Answer: TRUE Diff: 2 Section: 2.6 Organizational Culture Skill: Factual AACSB Tag: Reflective EPE 431 Chapter 3 1) Numeric project selection models, by their very nature, employ objective values. Answer: FALSE Diff: 2 Section: 3.1 Project Selection Skill: Definition AACSB Tag: Reflective 2) Every decision model contains both objective and subjective factors. Answer: TRUE Diff: 3 Section: 3.1 Project Selection Skill: Factual AACSB Tag: Reflective 3) A simplified scoring model addresses all the weakness of a checklist model for project screening. Answer: TRUE Diff: 1 Section: 3.2 Approaches to Project Screening and Selection Skill: Conceptual AACSB Tag: Reflective 4) The Analytical Hierarchy Process elegantly addresses scaling issues in criteria and negative utility in alternative scores. Answer: FALSE Diff: 1 Section: 3.2 Approaches to Project Screening and Selection Skill: Conceptual AACSB Tag: Analytic Skills 5) The efficient frontier in a profile model is the set of options that offers a maximum return for a given level of risk or a minimum risk for every level of return. Answer: TRUE Diff: 2 Section: 3.2 Approaches to Project Screening and Selection Skill: Factual AACSB Tag: Analytic Skills 6) The present value of money is lower the further out in the future I expect to spend it. Answer: FALSE Diff: 2 Section: 3.3 Financial Models Skill: Analytical AACSB Tag: Analytic Skills 7) The reciprocal of the payback period is used to calculate the average rate of return for a project. Answer: TRUE Diff: 2 Section: 3.3 Financial Models Skill: Analytical AACSB Tag: Analytic Skills 8) Internal rate of return is preferable to net present value because IRR employs a weighted average cost of capital discount rate that reflects potential reinvestment. Answer: FALSE Diff: 3 Section: 3.3 Financial Models Skill: Conceptual AACSB Tag: Analytic Skills 9) An options model could be used when financial criteria would change significantly over time. Answer: TRUE Diff: 2 Section: 3.3 Financial Models Skill: Conceptual AACSB Tag: Reflective 10) The most important thing to remember when using project selection models is to be consistent and objective. Answer: TRUE Diff: 1 Section: 3.3 Financial Models Skill: Conceptual AACSB Tag: Reflective 11) Because projects managed under a project portfolio management scheme may be independent of each other, it is not necessary to consider resource use when deciding to pursue any single project. Answer: FALSE Diff: 1 Section: 3.4 Project Portfolio Management Skill: Conceptual AACSB Tag: Reflective 12) A balanced project portfolio may be interpreted to mean that a single portfolio contains both high and low risk, low growth and high growth, and risky and safe projects. Answer: FALSE Diff: 2 Section: 3.4 Project Portfolio Management Skill: Factual AACSB Tag: Reflective 13) Successful project management firms rely on home runs and narrowly concentrated efforts since specialization creates name recognition and market share. Answer: FALSE Diff: 1 Section: 3.4 Project Portfolio Management Skill: Conceptual AACSB Tag: Reflective 14) Personnel costs comprise one of the highest sources of project expense. Answer: TRUE Diff: 1 Section: 3.4 Project Portfolio Management Skill: Factual AACSB Tag: Reflective 15) If strategy and portfolio are not in sync, the firm is poised on the cusp of success. Answer: FALSE Diff: 1 Section: 3.4 Project Portfolio Management Skill: Conceptual AACSB Tag: Reflective EPE 431 Chapter 4 1) Leadership may be part of a manager's job but other managerial roles are not necessarily part of a leader's job. Answer: TRUE Diff: 1 Section: 4.1 Leaders vs. Managers Skill: Factual AACSB Tag: Reflective 2) Leadership is an innate characteristic that some people have and some don't. Answer: FALSE Diff: 1 Section: 4.1 Leaders vs. Managers Skill: Definition AACSB Tag: Reflective 3) One reason projects are initially underfunded is because their requirements are sometimes deliberately understated. Answer: TRUE Diff: 2 Section: 4.2 How the Project Manager Leads Skill: Definition AACSB Tag: Reflective 4) Summarizing and consensus testing are two group maintenance behaviors that a project manager uses to show support for project team members. Answer: FALSE Diff: 2 Section: 4.2 How the Project Manager Leads Skill: Definition AACSB Tag: Reflective 5) The number one flaw that makes a project manager a poor leader is setting a bad example. Answer: TRUE Diff: 2 Section: 4.2 How the Project Manager Leads Skill: Factual AACSB Tag: Reflective 6) The organizational factor that is most vital in preventing a project manager from being recognized as a leader is lack of resources. Answer: FALSE Diff: 3 Section: 4.2 How the Project Manager Leads Skill: Factual AACSB Tag: Reflective 7) Emotional intelligence is a more important measure of leadership effectiveness than technical skill, analytical ability, and intelligence. Answer: TRUE Diff: 2 Section: 4.2 How the Project Manager Leads Skill: Factual AACSB Tag: Reflective 8) The most important characteristic of a project leader is ability to inspire. Answer: FALSE Diff: 3 Section: 4.3 Traits of Effective Project Leaders Skill: Factual AACSB Tag: Reflective 9) A project manager must be able to shift temporal orientation from past, to present, to future. Answer: TRUE Diff: 2 Section: 4.3 Traits of Effective Project Leaders Skill: Factual AACSB Tag: Reflective 10) Someone with a polychronic preference functions in two different temporal orientations, such as past and present. Answer: FALSE Diff: 2 Section: 4.3 Traits of Effective Project Leaders Skill: Factual AACSB Tag: Reflective 11) A project manager may also be the project champion. Answer: TRUE Diff: 1 Section: 4.4 Project Champions Skill: Factual AACSB Tag: Reflective 12) An entrepreneur type of project champion is the source of the idea and also the main sponsor. Answer: FALSE Diff: 1 Section: 4.4 Project Champions Skill: Definition AACSB Tag: Reflective 13) Providing the needed motivation for the project team is a nontraditional duty of a project champion. Answer: TRUE Diff: 3 Section: 4.4 Project Champions Skill: Definition AACSB Tag: Reflective 14) The majority of a champion's time is spent performing the traditional project management duties of leadership, administration, obtaining resources, and coordination and control. Answer: FALSE Diff: 3 Section: 4.4 Project Champions Skill: Definition AACSB Tag: Reflective 15) The new leader must make a conscious effort to distance himself from the people being led. Answer: FALSE Diff: 3 Section: 4.5 The New Project Leadership Skill: Definition AACSB Tag: Reflective 16) One way an organization can develop a core of project management professionals is to administer personality tests and match people attuned to project work to projects. Answer: FALSE Diff: 3 Section: 4.6 Project Management Professionalism Skill: Definition AACSB Tag: Reflective EPE 431 Chapter 5 1) Scope management is the function controlling a project in terms of its goals and objectives during the execution phase. Answer: FALSE Diff: 1 Section: 5.0 Introduction Skill: Definition AACSB Tag: Reflective 2) The statement of work is a detailed narrative description of the work required for a project. Answer: TRUE Diff: 1 Section: 5.1 Conceptual Development Skill: Definition AACSB Tag: Reflective 3) A work package may be composed of one or more subdeliverables. Answer: FALSE Diff: 2 Section: 5.2 The Scope Statement Skill: Definition AACSB Tag: Reflective 4) A work package may consist of more than one milestone. Answer: TRUE Diff: 2 Section: 5.2 The Scope Statement Skill: Definition AACSB Tag: Reflective 5) A lump sum contract requires the customer to pay for the full delivered price of the project before any work is done. Answer: FALSE Diff: 2 Section: 5.3 Work Authorization Skill: Definition AACSB Tag: Reflective 6) Scope reporting not only identifies the type of information that will be reported, but also to whom it will be reported and with what frequency. Answer: TRUE Diff: 2 Section: 5.4 Scope Reporting Skill: Factual AACSB Tag: Reflective 7) Controls can be established at any point during a project but should follow the maxim "more control is better". Answer: FALSE Diff: 2 Section: 5.5 Control Systems Skill: Conceptual AACSB Tag: Reflective 8) A baseline is the project's scope fixed at a specific point in time. Answer: TRUE Diff: 1 Section: 5.5 Control Systems Skill: Definition AACSB Tag: Reflective 9) The project closeout step requires project managers to consider the types of records and reports they and their clients will require at the completion of a project. Answer: TRUE Diff: 1 Section: 5.6 Project Closeout Skill: Factual AACSB Tag: Reflective EPE 431 Chapter 6 1) Team building and conflict management skills are two of the most important people skills that project managers can cultivate. Answer: TRUE Diff: 1 Section: 6.0 Introduction Skill: Factual AACSB Tag: Multicultural 2) The first step in assembling a project team is to talk to potential team members. Answer: FALSE Diff: 2 Section: 6.1 Building the Project Team Skill: Factual AACSB Tag: Reflective 3) If preferred project team members are not available, the project manager should notify top management of the consequences. Answer: TRUE Diff: 2 Section: 6.1 Building the Project Team Skill: Conceptual AACSB Tag: Reflective 4) Project managers are best able to promote a sense of enthusiasm within the project team when they create an environment that is challenging, supportive, and personally rewarding. Answer: TRUE Diff: 1 Section: 6.2 Characteristics of Effective Project Teams Skill: Conceptual AACSB Tag: Reflective 5) High turnover among project team members is a key element of success since new team members will bring fresh perspectives and ideas to the group. Answer: FALSE Diff: 1 Section: 6.3 Reasons Why Teams Fail Skill: Factual AACSB Tag: Reflective 6) Project team productivity is at its peak during the norming phase of group development. Answer: FALSE Diff: 2 Section: 6.4 Stages in Group Development Skill: Definition AACSB Tag: Reflective 7) The punctuated equilibrium model suggests that groups spend the majority of their time in stasis. Answer: TRUE Diff: 3 Section: 6.4 Stages in Group Development Skill: Factual AACSB Tag: Reflective 8) Cross-functional cooperation directly influences both the actual implementation of the project and the team members' assessment that the project experience was worthwhile. Answer: TRUE Diff: 3 Section: 6.5 Achieving Cross-Functional Cooperation Skill: Conceptual AACSB Tag: Reflective 9) The two main challenges that virtual project teams face are building trust and establishing the best modes of communication. Answer: TRUE Diff: 3 Section: 6.6 Virtual Project Teams Skill: Conceptual AACSB Tag: Reflective 10) The behavioral view of conflict is that conflict has a negative effect on organizations. Answer: FALSE Diff: 2 Section: 6.7 Conflict Management Skill: Definition AACSB Tag: Reflective EPE 431 Chapter 7 1) The risk is highest in the earliest phase of the project life cycle. Answer: TRUE Diff: 1 Section: 7.0 Introduction Skill: Factual AACSB Tag: Reflective 2) As risk decreases in the project life cycle, opportunity increases. Answer: FALSE Diff: 1 Section: 7.0 Introduction Skill: Factual AACSB Tag: Reflective 3) Risks can be quantified by multiplying the likelihood a failure will occur by the severity of the failure. Answer: TRUE Diff: 2 Section: 7.0 Introduction Skill: Analytical AACSB Tag: Analytic Skills 4) Technical risk is the probability that the project will not perform to the required standards or produce substandard products or have excessive operating cost consumption. Answer: TRUE Diff: 2 Section: 7.1 Risk Management: A Four-Stage Process Skill: Factual AACSB Tag: Reflective 5) The probability that the investments made to fund the front-end activities will be lost due to project abandonment is financing risk. Answer: FALSE Diff: 2 Section: 7.1 Risk Management: A Four-Stage Process Skill: Definition AACSB Tag: Reflective 6) One approach to risk mitigation is simply to accept it. Answer: TRUE Diff: 2 Section: 7.1 Risk Management: A Four-Stage Process Skill: Factual AACSB Tag: Reflective 7) Risk cannot be transferred because ultimately your own project will suffer the consequences if the event occurs. Answer: FALSE Diff: 2 Section: 7.1 Risk Management: A Four-Stage Process Skill: Factual AACSB Tag: Reflective 8) Contingency reserves require a construction company to hold back some funds in an account just in case something happens that increases the overall project cost. Answer: TRUE Diff: 2 Section: 7.1 Risk Management: A Four-Stage Process Skill: Factual AACSB Tag: Reflective 9) The highest dollar value of reserves is typically task contingency. Answer: FALSE Diff: 2 Section: 7.1 Risk Management: A Four-Stage Process Skill: Factual AACSB Tag: Reflective 10) The PRAM model for risk management proposes that risk management follow a life cycle much as projects follow a life cycle. Answer: FALSE Diff: 2 Section: 7.2 Project Risk Management: An Integrated Approach Skill: Factual AACSB Tag: Reflective EPE 431 Chapter 8 1) Direct costs are those clearly assigned to the aspect of the project that generated the cost. Answer: TRUE Diff: 1 Section: 8.1 Cost Management Skill: Factual AACSB Tag: Reflective 2) Material is an example of a cost that is recurring, variable and direct. Answer: TRUE Diff: 2 Section: 8.1 Cost Management Skill: Factual AACSB Tag: Reflective 3) An expedited cost is one that does not vary with respect to their usage. Answer: FALSE Diff: 2 Section: 8.1 Cost Management Skill: Factual AACSB Tag: Reflective 4) An order of magnitude estimate is usually more accurate than a ballpark estimate. Answer: FALSE Diff: 1 Section: 8.2 Cost Estimation Skill: Factual AACSB Tag: Reflective 5) Comparative estimates are more accurate than definitive estimates when applied to the same project. Answer: TRUE Diff: 2 Section: 8.1 Cost Management Skill: Factual AACSB Tag: Reflective 6) A learning rate of 90% means that for every doubling of output, the time required by the activity falls by 10%. Answer: FALSE Diff: 2 Section: 8.3 Creating a Project Budget Skill: Factual AACSB Tag: Reflective 7) There is a tendency for different departments or functions to compete for scarce resources in a zero-sum game when bottom-up budgeting is used to develop a project budget. Answer: FALSE Diff: 2 Section: 8.3 Creating a Project Budget Skill: Factual AACSB Tag: Reflective 8) Activity-based costing is based on the notion that projects consume activities and activities consume resources. Answer: TRUE Diff: 2 Section: 8.3 Creating a Project Budget Skill: Factual AACSB Tag: Reflective 9) A time-phased budget allocates costs across both project activities and the anticipated time in which the budget is to be expended. Answer: TRUE Diff: 2 Section: 8.3 Creating a Project Budget Skill: Factual AACSB Tag: Reflective 10) A budget contingency of $1 million on a $10 million project means that the project will be planned for a cost of $10 million, but the project organization receives an extra $1 million to guard against unforeseen cost overruns. Answer: FALSE Diff: 1 Section: 8.3 Creating a Project Budget Skill: Factual AACSB Tag: Analytic Skills EPE 431 Chapter 9 1) Preceding activities are those that must occur before others can be done. Answer: TRUE Diff: 1 Section: 9.1 Project Scheduling Skill: Factual AACSB Tag: Reflective 2) A backward pass is performed when it is necessary to undo some work that has been performed in order to complete it properly. Answer: FALSE Diff: 1 Section: 9.2 Key Scheduling Terminology Skill: Factual AACSB Tag: Reflective 3) A merge activity has two or more immediate predecessors. Answer: TRUE Diff: 1 Section: 9.2 Key Scheduling Terminology Skill: Definition AACSB Tag: Reflective 4) Float is always measured in exactly the same way as slack. Answer: TRUE Diff: 2 Section: 9.2 Key Scheduling Terminology Skill: Factual AACSB Tag: Reflective 5) You must know the mean of an activity in order to determine its standard deviation. Answer: FALSE Diff: 2 Section: 9.4 Duration Estimation Skill: Factual AACSB Tag: Reflective 6) In assigning a value for the most pessimistic (b) duration, the project manager should estimate the duration of the activity to have a 99% likelihood that it will take b or less amount of time. Answer: TRUE Diff: 2 Section: 9.4 Duration Estimation Skill: Definition AACSB Tag: Reflective 7) The late start time should be calculated using a forward pass through the network. Answer: FALSE Diff: 2 Section: 9.4 Duration Estimation Skill: Factual AACSB Tag: Reflective 8) Negative float exists when a project's critical path has been completed more quickly than anticipated. Answer: TRUE Diff: 2 Section: 9.4 Duration Estimation Skill: Factual AACSB Tag: Reflective 9) Laddering is a technique that allows the project manager to redraw the network to more closely sequence project subtasks to make the overall network sequence more efficient. Answer: TRUE Diff: 2 Section: 9.4 Duration Estimation Skill: Factual AACSB Tag: Reflective 10) Hammock activities break a task into greater levels of detail so that each task is represented as two or more subtasks that each have their own duration and precedence requirements. Answer: FALSE Diff: 2 Section: 9.4 Duration Estimation Skill: Factual AACSB Tag: Reflective EPE 431 Chapter 10 1) Finish to start lags are the same as additional activity slack. Answer: FALSE Diff: 2 Section: 10.1 Lags in Precedence Relationships Skill: Factual AACSB Tag: Reflective 2) The least common type of lag relationship occurs when a successor's finish is dependent upon a predecessor's start. Answer: TRUE Diff: 2 Section: 10.1 Lags in Precedence Relationships Skill: Factual AACSB Tag: Reflective 3) Gantt charts cannot depict float. Answer: FALSE Diff: 1 Section: 10.2 Gantt Charts Skill: Factual AACSB Tag: Reflective 4) In order to accelerate completion of a project, the manager must crash critical path activities. Answer: TRUE Diff: 1 Section: 10.3 Crashing Projects Skill: Factual AACSB Tag: Reflective 5) The critical path may not contain a dummy activity. Answer: FALSE Diff: 1 Section: 10.3 Crashing Projects Skill: Factual AACSB Tag: Reflective 6) Quite often the marginal gains in employee productivity decrease dramatically with the increased use of overtime. Answer: TRUE Diff: 2 Section: 10.3 Crashing Projects Skill: Factual AACSB Tag: Reflective 7) Most project management software employs AOA diagramming Answer: FALSE Diff: 2 Section: 10.4 Activity-on-Arrow Networks Skill: Factual AACSB Tag: Reflective 8) AOA is a more useful technique than AON if the project is complex and has many significant milestones. Answer: TRUE Diff: 2 Section: 10.4 Activity-on-Arrow Networks Skill: Factual AACSB Tag: Reflective 9) Networks are adaptable and useful for all scheduling challenges that an organization faces. Answer: FALSE Diff: 2 Section: 10.5 Controversies in the Use of Networks Skill: Factual AACSB Tag: Reflective 10) Most activity estimations using PERT methods lead to overly optimistic activity duration estimates. Answer: TRUE Diff: 2 Section: 10.5 Controversies in the Use of Networks Skill: Factual AACSB Tag: Reflective EPE 431 Chapter 11 1) Once the organization elevates its constraint, its system has no constraint. Answer: FALSE Diff: 2 Section: 11.1 The Theory of Constraints and Critical Chain Project Scheduling Skill: Definition AACSB Tag: Reflective 2) An organization's budget estimating process routinely misses the actual cost of a project by 25%. For the most recent project, the budget variance was a ridiculous 23%, but this must be considered common cause variance. Answer: TRUE Diff: 2 Section: 11.1 The Theory of Constraints and Critical Chain Project Scheduling Skill: Factual AACSB Tag: Reflective 3) In order to estimate completion of a Gaussian distributed activity with a 90% or higher degree of confidence, the time may be overestimated by as much as 200%. Answer: TRUE Diff: 2 Section: 11.2 CCPM and the Causes of Project Delay Skill: Analytical AACSB Tag: Reflective 4) If people believe that they built extra time into their initial estimates, they are usually more likely to begin project work right away. Answer: FALSE Diff: 1 Section: 11.3 How Project Teams Waste the Extra Safety They Acquire Skill: Conceptual AACSB Tag: Reflective 5) Both positive and negative variation are usually passed downstream during a project. Answer: FALSE Diff: 2 Section: 11.3 How Project Teams Waste the Extra Safety They Acquire Skill: Factual AACSB Tag: Reflective 6) The Central Limit Theorem states that if a number of probability distributions are summed, the variance of the sum equals the sum of the variances of individual distributions. Answer: TRUE Diff: 2 Section: 11.4 The Critical Chain Solution to Project Scheduling Skill: Analytical AACSB Tag: Analytic Skills 7) A feeder buffer is a buffer that is created for a non-critical path activity. Answer: TRUE Diff: 1 Section: 11.4 The Critical Chain Solution to Project Scheduling Skill: Definition AACSB Tag: Reflective 8) An important element in critical chain scheduling is to change from a late-finish (procrastination) approach to an early-start approach. Answer: FALSE Diff: 2 Section: 11.4 The Critical Chain Solution to Project Scheduling Skill: Definition AACSB Tag: Reflective 9) The critical chain is usually the same as the critical path. Answer: FALSE Diff: 2 Section: 11.4 The Critical Chain Solution to Project Scheduling Skill: Factual AACSB Tag: Reflective 10) The legal department is needed to review all contracts a project organization enters. The legal department is continually swamped with work and all other departments find themselves waiting on legal before they can begin their work. Legal is the drum for this organization. Answer: TRUE Diff: 2 Section: 11.6 Critical Chain Project Portfolio Management Skill: Conceptual AACSB Tag: Reflective EPE 431 Chapter 12 http://www.docfoc.com/project-management-solution-chapter-12 EPE 431 Chapter 13 1) Gap analysis refers to any measurement process that first determines the goals and then the degree to which the actual performance lives up to those goals. Answer: FALSE Diff: 2 Section: 13.1 Control Cycles - A General Model Skill: Definition AACSB Tag: Reflective 2) The classic S-curve is a plot of cumulative cost versus elapsed time in weeks. Answer: TRUE Diff: 1 Section: 13.2 Monitoring Project Performance Skill: Definition AACSB Tag: Reflective 3) Positive variance on an S-curve represents significant project progress. Answer: FALSE Diff: 2 Section: 13.2 Monitoring Project Performance Skill: Definition AACSB Tag: Reflective 4) It is possible to measure both positive and negative deviations from the schedule baseline with the tracking Gantt chart. Answer: TRUE Diff: 2 Section: 13.2 Monitoring Project Performance Skill: Definition AACSB Tag: Reflective 5) The one factor that earned value management considers that an S-curve does not include is performance. Answer: TRUE Diff: 2 Section: 13.3 Earned Value Management Skill: Definition AACSB Tag: Reflective 6) The schedule performance index is the ratio of the actual cost to the earned value. Answer: FALSE Diff: 2 Section: 13.3 Earned Value Management Skill: Definition AACSB Tag: Reflective 7) The earned value of a project is the cumulative total costs incurred in accomplishing the various work packages. Answer: FALSE Diff: 2 Section: 13.3 Earned Value Management Skill: Definition AACSB Tag: Reflective 8) Five weeks in the semester you have completed 0% of your project management class under the 0/100 rule. Answer: TRUE Diff: 2 Section: 13.5 Issues in the Effective Use of Earned Value Management Skill: Definition AACSB Tag: Reflective 9) Your organization is in the midst of a project in uncharted waters; nothing you have attempted before comes close to many of the activities that are necessary to bring this project to completion. Your earned value management should probably be tracked closely with a percentage complete rule in increments of 5 to 10 percent. Answer: FALSE Diff: 2 Section: 13.5 Issues in the Effective Use of Earned Value Management Skill: Definition AACSB Tag: Reflective 10) The project implementation profile assesses the performance of the project team with respect to 10 critical success factors and can be used on an on-going project. Answer: TRUE Diff: 2 Section: 13.6 Human Factors in Project Evaluation and Control Skill: Definition AACSB Tag: Reflective