Question

In: Operations Management

All of the following statements are true except:

a. A portfolio may contain multiple programs and projects.

b. A project manager has the discretion to make trade-offs in regard to which programs to pursue.

c. A program manager has the discretion to make trade-offs in regard to which projects to pursue.

d. Projects have a finite timeline, while programs may exist as long as the parent organization does.

Which of the following is a financial analysis tool that an organization may use to determine the cost-value of potential projects?

a. Payback period (PP)

b. Internal rate of return (IRR)

c. Net present value (NPV)

d. All of the above

The best describe(s) why a project is being undertaken.

a. statement of work

b. business case

c. subprojects

d. source selection criteria

An organization s vision often includes reference to its social, environmental, and economic health, collectively referred to as the:

a. triple bottom line

b. business case

c. statement of work (SOW)

d. net present value (NPV)

The charter is the primary deliverable of a pro-

ject’s_______phase.

a. Selecting

b. Initiating

c. Planning

d. Executing

According to the PMBOK, the rough order of

magnitude for the summary budget within the project charter is .

a. 100% to 200% accuracy

b. 25% to 75% accuracy

c. 5% to 10% accuracy

d. none of the above

After identifying potential project risks, the proj-

ect team should then________.

a. develop risk response plans for all identified

risks.

b. wait for the sponsor to conduct a risk

assessment.

c. move on to other components of the charter,

since identifying risks is the only risk-related

activity in the initiating phase.

d. assess each risk based on probability and likely

impact, and then create a risk response plan for each major risk.

Solutions

Expert Solution

1. All of the statements are true except:

b) A project manager has the discretion to make trade-offs in regards to which programs to pursue.

Explanation: A project manager can make trade-offs only to decide which projects to pursue and not programs.

...............................................

2. Which of the following is a financial analysis tool that an organization may use to determine the cost-value of potential projects?

d) All of the tools are used to determine the cost-value of potential projects.

Explanation: Payback period is used to determine the time it will take to recover the investment on a project.

The internal rate of return is used to determine the profitability of investing in a project.

Net Present Value helps in determining the present value of an investment in a project by the discounted sum of cash received from the project.

...................................................

3. The best describe(s) why a project is being undertaken

b) business case

Explanation: A business case gives justification to a project being undertaken based on its commercial profitability.

Whereas Statement of work is the document used in project management, sub-projects are the smaller projects within a big project and source selection criteria are attributes which a buyer desires the seller to meet.

..................................................

4. An organization s vision often includes reference to its social, environmental, and economic health, collectively referred to as the:

a) Triple bottom line

Explanation: The business case is justification on why the project is being undertaken, the statement of work is a document developed for project management and NPV is the difference between and the present value of cash inflow and outflow over a specific period of time.

..................................................

5. The charter is the primary deliverable of a project’s_______phase.

c) Planning- the project charter is the main element in the planning process of a project.

..................................................

6. According to the PMBOK, the rough order of magnitude for the summary budget within the project charter is.

b) 25% to 75% accuracy

..................................................

7. After identifying potential project risks, the project team should then________.

d) assess each risk based on probability and likely

impact, and then create a risk response plan for each major risk.

keosha answered 1 year ago

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