Copyright 2019 Pearson Education, Inc.

1 Copyright © 2019 Pearson Education, Inc.

Project Management: Achieving Competitive Advantage, 5e (Pinto)

Chapter 1 Introduction: Why Project Management?

1) Low inflation is a trigger for improved project management skills because:

• Rampant cost increases must be passed along to the consumer.
• Internal process improvement is accomplished via project management.
• Lower inflation means narrower product launch windows.
• Global markets are a prerequisite for low inflation.

Answer: B

Diff: 1

Section: 1.3 Why Are Projects Important?

LO: 1.3: Understand why effective project management is such a challenge.

Classification: Concept

AACSB: Application of Knowledge

2) Projects, rather than repetitive tasks, are now the basis for most value-added in business.Answer: TRUE Diff: 1 Section: 1.1 The Importance of Projects LO: 1.1: Understand why project management is becoming such a powerful and popular practice in business. Classification: Application AACSB: Application of Knowledge 3) The emergence of global markets has made project management skills more critical.Answer: TRUE Diff: 1 Section: 1.3 Why Are Projects Important? LO: 1.3: Understand why effective project management is such a challenge. Classification: Application AACSB: Application of Knowledge 4) What roles do traditional process management duties of planning, organizing, and controlling play in project management, if any? Answer: The traditional managerial duties of planning, organizing, and controlling all apply to project management. Project managers must be technically well versed, proficient at administrative functions, willing and able to assume leadership roles, and above-all, goal oriented. The project manager is the person most responsible for keeping track of the big picture Diff: 2 Section: 1.2 What Is a Project?LO: 1.2: Recognize the basic properties of projects, including their definition. Classification: Application AACSB: Application of Knowledge Project Management Achieving Competitive Advantage 5e Jeffrey K Pinto (Test Bank All Chapters, 100% Original Verif ied, A+ Grade) 1 / 4

2 Copyright © 2019 Pearson Education, Inc.5) Why is project management challenging?Answer: Projects present challenges for a number of reasons; by their nature they are often dramatic departures from the routine process-oriented work that employees are accustomed to.Projects face budget, time, and resource constraints and these resources must often be marshaled from across the organization.

Diff: 2

Section: 1.2 What Is a Project?

LO: 1.1: Understand why project management is becoming such a powerful and popular practice in business.

Classification: Application

AACSB: Application of Knowledge

6) Why are projects important?Answer: Today's businesses face a set of pressures that make projects crucial in helping an organization achieve its strategic goals. These pressures include shortened product life cycles, narrow product launch windows, increasingly complex and technical products, the emergence of global markets, and an economic period marked by low inflation.

Diff: 1

Section: 1.3 Why Are Projects Important?

LO: 1.3: Understand why effective project management is such a challenge.

Classification: Concept

AACSB: Application of Knowledge

7) Why is project management considered an excellent training ground for future senior executives in many organizations?Answer: One of the unique aspects of projects is their unique blend of technical and behavioral challenges. The technical side of project management requires managers to become skilled in project selection, budgeting and resource management, planning and scheduling, and tracking their projects. The behavioral side of project management requires project managers to bring together individuals from across the organization, mold them into a team, manage conflict, provide leadership, and engage in negotiation and appropriate political behavior.

Diff: 2

Section: 1.3 Why Are Projects Important?

LO: 1.3: Understand why effective project management is such a challenge.

Classification: Application

AACSB: Application of Knowledge

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8) A project typically has:

• A defined start and end date.
• A defined start date but no defined end date.
• No defined start but a defined end date.
• No defined start or end date.

Answer: A

Diff: 1

Section: 1.2 What Is a Project?

LO: 1.2: Recognize the basic properties of projects, including their definition.

Classification: Concept

AACSB: Application of Knowledge

9) The Project Management Body of Knowledge Guide definition of a project indicates that a

project is:

• Multifunctional.
• Permanent.
• Designed to avoid using human resources.
• Not limited by a budget.

Answer: A

Diff: 1

Section: 1.2 What Is a Project?

LO: 1.2: Recognize the basic properties of projects, including their definition.

Classification: Application

AACSB: Application of Knowledge

10) The acronym PMBoK stands for:

• The Personal Management Before or Kernel.
• The Project Movement Behind our Kernel.
• The Project Management Body of Knowledge.
• The Performance Measurement Body of Knowledge.

Answer: C

Diff: 1

Section: 1.2 What Is a Project?

LO: 1.2: Recognize the basic properties of projects, including their definition.

Classification: Application

AACSB: Application of Knowledge

• / 4

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11) Project members may be from:

• Different departments.
• Other organizational units.
• One functional area.
• All of the above.

Answer: D

Diff: 2

Section: 1.2 What Is a Project?

LO: 1.2: Recognize the basic properties of projects, including their definition.

Classification: Concept

AACSB: Application of Knowledge

12) There is no such thing as a project team:

• With a deliverable.
• With an ongoing, non-specific purpose.
• With a goal.
• With a project manager.

Answer: B

Diff: 2

Section: 1.2 What Is a Project?

LO: 1.2: Recognize the basic properties of projects, including their definition.

Classification: Application

AACSB: Application of Knowledge

13) A project that results in "doing the wrong things well" has ignored the:

• Budgetary goal.
• Technical goal.
• Customer satisfaction goal.
• Scheduling goal.

Answer: C

Diff: 2

Section: 1.2 What Is a Project?

LO: 1.2: Recognize the basic properties of projects, including their definition.

Classification: Application

AACSB: Application of Knowledge

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