Project Management

Topics: Project management, Standard deviation, Critical path method Pages: 25 (5252 words) Published: May 27, 2014
ch17-Project Management
1. Good project management is especially important with virtual teams.  TRUE
Virtual teams face challenges that make project management especially important. 2. One way that project management differs from management of more traditional activities is because of the limited lifetime of projects.  TRUE

Projects have lifetimes that are typically shorter than other business endeavors. 3. Once a project is approved and underway, project managers are only responsible for effectively managing time and costs which, if done well, will assure project completion on time and on budget.  FALSE

Managers also are responsible for assuring performance targets are met. 4. Matrix organizations transfer control of workers to project managers for the duration of the project.  FALSE
In matrix organizations, workers are shared by functional and project managers. 5. Some organizations use a matrix organization to integrate the activities of specialists within a functional framework.  TRUE

The matrix organization is useful in integrating specialists into projects. 6. The project computing algorithm requires both a forward and backward pass.  TRUE
Both passes are necessary to find critical path activities.
7. A hierarchical (vertical) listing of what must be done during a project is called matrix.  FALSE
This is called the work breakdown structure.
8. An advantage of Gantt charts in project management is that they identify which activities can be delayed without delaying the overall project.  FALSE
Gantt charts cannot show sequential relationships.
9. A Gantt chart is built using established precedence relationships.  FALSE
Gantt charts cannot show sequential relationships.
10. The higher the node number, the longer the activity will take.  FALSE
The higher the node number, the later the activity will occur. 11. The probability of occurrence of risk events is lower near the beginning of a project and higher near the end of the project since very few activities remain.  FALSE

The probability of occurrence of risk events is higher near the beginning of a project. 12. The costs associated with risk events tend to be lower near the beginning of a project, and higher near the end of the project.  TRUE

This is true even though the probability of occurrence of risk events is higher near the beginning of a project. 13. Although PERT and CPM were originally developed for somewhat different types of projects, they are now nearly identical in terms of analysis and procedures.  TRUE

PERT and CPM are commonly used to refer to the same approaches. 14. The network diagram describes sequential relationships among major activities on a project.  TRUE
Network diagrams depict sequential relationships.
15. The path in a network with the average length of time to completion is called the critical path.  FALSE
The critical path is the path that has the largest duration. 16. The sum of times of the longest path in a network indicates expected project completion time, and the activities represent the critical activities.  TRUE

These are definitions of the critical path and the critical activities. 17. Path probabilities are calculated by dividing path mean by path standard deviations.  FALSE
Path probabilities are calculated by subtracting the path mean from the specified time, dividing by the pat standard deviation, then referring the resulting z-score to the standard normal distribution. 18. The main function of dummy activities is to clarify relationships in network diagrams.  TRUE

Dummy variables are used to ensure that precedence relationships are maintained. 19. The earliest finish time for an activity is equal to the latest finish time minus the activity time.  FALSE
Early finish is equal to the early start plus the activity time. 20. The latest starting time for an activity is equal to the latest finish time minus the activity time.  TRUE
This is how late start times are computed.
21. The earliest finish time for...
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