Chapter 12: MGMT
Terms in this set (59)
T/F: A key document that authorizes the project is the project charter which shows that the project has the commitment and support of senior management.
T/F: Disaster recovery refers to all the procedures, documentation, and resources the organization puts into place to prepare for a disaster and recover the technical infrastructure.
T/F: Business continuity refers to the willingness of an organization to pull the plug on a project in which huge sums and resources need to be invested.
T/F: The closing phase of a project should also include a process that documents the lessons learned from the project.
T/F: Change management refers to a structured approach to the transition employees must make as they switch from their existing work processes to new ones.
T/F: Project charters are drafted in kickoff meetings.
T/F: A difference between projects and processes is that processes are unique, whereas projects are recurring.
T/F: A black swan refers to those favorable, external events which contribute to an organization's growth.
T/F: Scope creep refers to a strategy in which everyone in a project team agrees upon what features the project will involve.
T/F: Deliverables refer to the products, documents, or services that will be delivered to the sponsor during the course of the project.
A ________ is a document that authorizes a project and includes a clear statement of objectives, estimated start and end dates, the names of the relevant people and their roles, a tentative budget, criteria for success, and other pertinent information.
Which of the following is the most critical factor that contributes to failure of projects?
unrealistic time frames
A ________ is a series of events designed to deliver a product or service that is recurring in nature.
Which of the following best describes project portfolio management?
a process that oversees all projects and selects which projects to pursue
The term ________ is used to describe an extremely rare event that is difficult or nearly impossible to predict, but which can have an immense impact in areas such as technology, finance, and science
Why is it a challenging task to calculate a project's return on investment (ROI)?
It is difficult to estimate ROI for projects where costs rise unexpectedly and revenue increases are hard to predict.
A(n) ________ bias refers to a belief that an actual event was predictable even if it was not.
Which of the following is a difference between projects and processes?
Projects are unique and one of a kind, whereas processes are recurring.
Which of the following best describes confirmation bias?
the tendency to choose information that supports our existing position
Which of the following best describes a project charter?
a key document that authorizes a project
Which of the following collects data from each project and aggregates it, building a larger picture of the overall health of the organization's project portfolio?
program management office
________ track progress from start to finish, pinpointing any deviations from the plan.
Monitoring and controlling processes
Which among the following is the hardest task for an organization's program management office?
collecting consistent data from projects
The term ________ refers to products, documents, or services that will be handed over to the sponsor during the course of the project.
A kick-off meeting involves ________.
project stakeholders meeting one another to review the project charter
The ________ refers to the longest course through the project, which identifies those tasks that cannot be delayed without affecting the finish date.
In the ________ phase, project managers pay close attention to reports and dashboards that might show early warning signs that some tasks have fallen behind.
The term ________ refers to a task in the work breakdown structure that needs to be completed before a particular task can begin.
Which of the following should a project manager ideally do to efficiently manage a project?
communicate the time, cost, and scope constraints clearly as the project unfolds
One of the critical factors that contribute to the failure of projects is ________.
the lack of executive support for the project
T/F: Every project is constrained by three fundamental, interrelated forces: time, cost, and scope.
T/F: A confirmation bias is a rare human tendency to believe that an event was predictable even if it was not.
T/F: Binding, formal agreements with vendors and consultants are essential to the success of a project.
T/F: The planning processes lay the groundwork for the project by clarifying the value it will bring to the organization, setting its objectives, and estimating the project's length, scope, and cost.
T/F: Executing processes involve coordinating efforts that ensure the tasks on the work breakdown structure are carried out properly.
T/F: Escalation of commitment refers to the tendency of people to increase features in a project in order to accommodate excess resources.
Which of the following best describes an availability bias?
the tendency to judge the probability of an event based on how easily examples come to mind
Which of the following best defines a critical path in a project?
the longest project path that identifies tasks that cannot be delayed without affecting the finish date
Which of the following is true of black swan events?
The invention of the personal computer is an example of a black swan.
Which of the following sets of processes is carried out first in project management?
A real estate developer in the New Jersey area purchases a large tract of land and plans to build an apartment complex equipped with a golf course and other amenities. The developer is targeting the affluent software engineers from Manhattan who are looking for second homes. Halfway through the process of construction, recession hits the nation and many people lose their jobs. There are no takers for the apartments the developer is building, as homebuyers look for less expensive options. The developer, dismayed at the huge investment he has already made in the project, decides that it would be unwise to stop the project and plans to go ahead with it. The developer's reasoning is consistent with the idea of ________.
escalation of commitment
A(n) ________ is an orderly listing of actual tasks that a project team must complete to produce the project's deliverables.
work breakdown structure
________ refers to all the procedures, documentation, and resources an organization puts into place to prepare for a crisis situation and recover technical infrastructure.
Which of the following best describes a planning fallacy?
the tendency to underestimate the time it will take to complete a task
The stage at which a project is conceived is known as the ________ process.
________ in project management include all the coordinating efforts that ensure that tasks on the work breakdown structure are carried out properly.
Which of the following best defines change management?
an approach to the transition employees make as they switch from existing work to new processes
T/F: The critical path in a Gantt chart is the shortest path through the project and identifies those tasks that can be delayed without affecting the finish date.
A(n) ________ is a temporary activity that is launched for a specific purpose, to carry out a particular objective.
Which of the following best defines escalation of commitment?
the tendency to continue to invest in a project despite mounting evidence that it is not succeeding
Which of the following is true of the triple constraint in projects?
Changes in one fundamental constraint affect the other constraints as well.
The ________ encompasses services each employee will be provided, whether and how much they can utilize company resources for personal use, the kinds of surveillance that are in place, and reinforce legal requirements, such as prohibitions against unauthorized copying.
Which of the following is a characteristic of a process?
recurring in nature
Which of the following disasters is most likely to cause massive absenteeism in organizations?
Which of the following statements is true of a project charter?
It shows that the senior management support the project
Which of the following is an accurate definition of "black swans"?
events that occur very rarely and are difficult or nearly impossible to predict
A ________ oversees all the projects going on throughout the organization and provides project management training, software, and support.
program management office
Which of the following challenges is typically a feature of the closing phase of a project?
documenting lessons learned
The ________ phase ideally involves wrapping up a project in an orderly way and a sponsor signing off that all deliverables have been received and accepted.