Exam Prep 6e Evaluating and Terminating the Project Ch.8 - Project Management Practice 6e Complete Test Bank by Jack R. Meredith. DOCX document preview.
Chapter 8: Evaluating and Terminating the Project
True/False
1. Project evaluation should only appraise the progress and performance of a project relative to the project’s initial plan and not relative to a revised plan.
Response: See section 8.1
Level: medium
2. Project evaluation appraises the performance of a project relative to the project’s initial or revised plan.
Response: See section 8.1
Level: easy
3. Project evaluation should be limited to an after-the fact analysis.
Response: See section 8.1
Level: medium
4. Project evaluation should not be limited to an after-the-fact analysis.
Response: See section 8.1
Level: easy
5. The primary purpose of project evaluation is to given feedback to senior management for decision and control purposes.
Response: See section 8.1
Level: medium
6. The original criteria for selecting and funding the project are largely irrelevant for project evaluation.
Response: See section 8.1
Level: medium
7. According to research, future potential is an important dimension of project success.
Response: See section 8.1
Level: difficult
8. Measuring the project’s performance against a planned budget and schedule is generally straightforward.
Response: See section 8.1
Level: medium
9. Measuring a project’s success on budget, schedule, and performance is typically more complicated than measuring revenues or qualitative, subjective factors.
Response: See section 8.1
Level: medium
10. The formal audit is a special type of project evaluation.
Response: See section 8.2
Level: medium
11. The project audit is typically broader than the traditional management audit.
Response: See section 8.2
Level: medium
12. The project audit focuses its attention on the organization’s management systems and operations.
Response: See section 8.2
Level: medium
13. The timing of an audit depends on the purpose of the audit.
Response: See section 8.2
Level: easy
14. Early project audits usually focus on the project’s budget and schedule.
Response: See section 8.2
Level: medium
15. Later project audits are typically of less value to the project team and of more interest to general management.
Response: See section 8.2
Level: medium
16. The general audit is usually performed by a person or team with special technical skills.
Response: See section 8.2
Level: medium
17. Project audits are typically very useful in the initiation project state.
Response: See section 8.2
Level: medium
18. Project audits are typically very useful at the master schedule project state.
Response: See section 8.2
Level: medium
19. The use of forms to collect data during a project audit is generally considered not to be good management practice since they can limit the audit team’s flexibility.
Response: See section 8.2
Level: medium
20. The request for proposal may contain valuable information for a project audit.
Response: See section 8.2
Level: medium
21. A discussion of the potential for project failure and monetary loss should be included in the audit report.
Response: See section 8.2
Level: medium
22. The way project termination is managed can impact the project’s success.
Response: See section 8.3
Level: medium
23. Poor up-front planning is a fundamental reason for project failure.
Response: See section 8.3
Level: easy
24. Naming the wrong project manager is a fundamental reason for project failure.
Response: See section 8.3
Level: medium
25. Termination-by-integration occurs when an “in-house” project is successfully completed and institutionalized as a new, formal part of the organization.
Response: See section 8.3
Level: medium
26. It is best for the project manager and project team to make the termination decision.
Response: See section 8.3
Level: medium
27. Project termination should be treated as a mechanistic process.
Response: See section 8.3
Level: medium
28. It is generally advisable to have the project manager serve as the termination manager.
Response: See section 8.3
Level: medium
29. The project final report is a history of the project.
Response: See section 8.3
Level: medium
30. Organizational structure should be addressed in the project final report.
Response: See section 8.3
Level: medium
31. The term evaluate means to set the value or appraise.
Response: See section 8.1
Level: medium
32. Project evaluation is an appraisal for use by top management.
Response: See section 8.1
Level: medium
33. A general audit is usually constrained by time and cost and limited to a brief investigation of project essentials.
Response: See section 8.2
Level: medium
34. A special type of project termination characterized by its unexpected suddenness and initiated by events such as forced retirement of the projects champion or the merger of the firm conducting the project with another firm is referred to as termination by “murder’”.
Response: See section 8.3
Level: medium
Multiple Choice
35. Which of the following is concerned with appraising a project relative to its initial or revised plan?
a) project evaluation
b) project termination
c) project monitoring
d) project control
e) project planning
Response: See section 8.1
Level: medium
36. According to research, which of the following is not an important dimension of project success?
a) project efficiency
b) project team cohesiveness
c) customer impact/satisfaction
d) business/direct success
e) future potential
Response: See section 8.1
Level: difficult
37. According to the text, which of the following is not an item to consider for project evaluation report recommendations?
a) communication with the client and senior management
b) locating opportunities for technological advances
c) locating opportunities to crash the project
d) improving the project-management process
e) improving the organization’s used of projects
Response: See section 8.1
Level: difficult
38. Which of the following audits is typically performed by a person or team with special technical skills?
a) the general audit
b) the detailed audit
c) the aggregate audit
d) the quality audit
e) the technical audit
Response: See section 8.2
Level: easy
39. Which of the following is not a typical step in a project audit?
a) familiarize the audit team with the requirements of the project
b) collect benchmark data from other similar projects
c) audit the project on-site
d) write-up the audit report in the required format
e) distribute the report
Response: See section 8.2
Level: medium
40. Which of the following was not a major section listed in the text for the audit report?
a) current status
b) future project status
c) critical management issues
d) financial analysis
e) risk analysis and risk management
Response: See section 8.2
Level: medium
41. Which of the following is not a type of project termination mentioned in the text?
a) project extinction
b) termination-by-addition
c) termination-by-integration
d) termination-by-starvation
e) termination-by-elimination
Response: See section 8.3
Level: medium
42. Which of the following is most closely associated with the output of a project becoming a standard part of the operating systems of the sponsoring firm or client?
a) termination-by-addition
b) termination-by-extinction
c) termination-by-integration
d) termination-by-starvation
e) termination-by-elimination
Response: See section 8.3
Level: medium
43. Which of the following is not a main duty of the termination manager?
a) Oversee the closing of the project’s books
b) Complete the project final report
c) Ascertain any product support requirements
d) Ensure completion of work
e) Ensure that documentation is complete
Response: See section 8.3
Level: difficult
44. Which of the following is typically not included in the project final report?
a) administrative performance
b) project performance
c) organizational structure
d) project teamwork
e) risk analysis and risk management
Response: See section 8.3
Level: medium
45. Which of the following information should not be contained in an audit report?
a) Introduction
b) final comments
c) Risk analysis
d) future project status
e) Project RACI matrix
Response: See section 8.3
Level: medium
46. The four important dimensions for measuring project success include the following except…
a) Efficiency in meeting the budget and schedule
b) Customer impact/satisfaction
c) Business/direct success
d) Future potential
e) Planning
Response: See section 8.1
Level: medium
47. Four fundamental reasons for project failure include all of the following except;
a) Project was not required for this task in the first place
b) Insufficient support form senior management
c) Insufficient funds
d) Poor up-front funding
e) Naming the wrong project manager
Response: See section 8.3
Level: easy
48. Resocore, an event management company, decides to perform an audit for an ongoing project. The company is constrained by time and cost, and therefore limits the audit to a brief investigation of project essentials. In this scenario, Resocore most likely conducts a(n) _____.
a) detailed audit
b) general audit
c) technical audit
d) energy audit
e) compound audit
Response: See section 8.2
Level: difficult
49. Phillip, an auditor, is conducting a project audit for a company. To be effective, he needs to gather information regarding the project. He can accomplish this by:
a) looking at documents that predate the project.
b) asking for personal accounts from project sponsors in the organization.
c) working with information from previous projects of the same project team.
d) looking at the organization's goals and project history.
e) asking the CEO of the organization for details about the project.
Response: See section 8.2
Level: difficult
50. Matthew, an auditor, is going to start a project audit. He has already acquired information about the project from the accounting department. Which of the following steps should he take to expedite gathering data about the project?
a) He should accept unconfirmed and unverified information from discreet sources.
b) He should streamline the project development process.
c) He should develop forms and procedures for data collection.
d) He should ensure the legality of the audit.
e) He should compile the currently available data separately.
Response: See section 8.2
Level: difficult
51. Susan, an auditor, is performing an audit. She is constrained by costs and time to complete the audit on time. Which of the following steps should Susan take in order to complete the audit?
a) Familiarize the audit team with the details of the project's goals and basis for selection
b) Assign a team member with technical skills to look into the project in detail
c) Write the project audit report in a letter to senior management for approval
d) Perform the audit off-site
e) Ensure that procedures and forms for data collection are made after the audit begins
Response: See section 8.2
Level: difficult
52. Portia is the head of an audit team that is conducting a project audit. Most of the people in her audit team are new and inexperienced. In order to ensure that her team builds trust with the project team during the audit, Portia should tell her team members to:
a) accept unconfirmed and unverified sources of information.
b) refrain from informing project personnel about the operations involved in an audit process.
c) offer their personal opinions on the data gathered.
d) avoid misunderstandings with the project team members.
e) avoid guidelines that seem too time consuming.
Response: See section 8.2
Level: difficult
53. Kqirk, a software development firm, decides to perform an audit for an ongoing project. The project aims to create a multimedia animation software for a client. The company hires a team of auditors who have knowledge about the subject of the project and skills that would enable them to evaluate the progress of the project. In this scenario, Kqirk most likely conducts a(n) _____.
a) detailed audit
b) general audit
c) technical audit
d) aggregate audit
e) compound audit
Response: See section 8.2
Level: difficult
54. Arquebus, a construction company, undertook a project to build an apartment building two years ago. However, the building's construction had to be halted due to legal issues surrounding the land it was built on. After a lengthy legal battle, Arquebus had to discontinue the project. In the context of project closure, this scenario exemplifies _____.
a) closure-by-murder
b) closure-by-addition
c) closure-by-integration
d) closure-by-starvation
e) closure-by-elimination
Response: See section 8.3
Level: difficult
55. Redemption Inc., an event management firm, wants to establish a social media marketing department. The management assigns one of the company's best managers to form a team of six employees and undertake a project to increase Redemption's presence on social media. The project is closed after it is successfully completed. Redemption Inc. forms a new social media marketing department with the project team members. In the context of project closure, this scenario exemplifies _____.
a) closure-by-murder
b) closure-by-addition
c) closure-by-integration
d) closure-by-starvation
e) closure-by-elimination
Response: See section 8.3
Level: difficult
56. Rathalos Inc., a logistics firm, initiates a project to optimize its transportation infrastructure. After conducting research, the project team concludes that using a fleet of company-owned trucks for any transportation within 100 miles and relying on external firms for any distance beyond that will drastically improve the company's performance. Rathalos Inc. decides to incorporate these findings into its day-to-day operations after the project is closed. In the context of project closures, this scenario exemplifies _____.
a) closure-by-murder
b) closure-by-addition
c) closure-by-integration
d) closure-by-starvation
e) closure-by-elimination
Response: See section 8.3
Level: difficult
57. Albert, a project manager, completed a complex project. He then prepared a project final report for the purview of senior management. In a specific section of the report, he listed the management practices that worked well for the project and helped team members complete the project without any delay. Which of the following items did Albert address in this section?
a) Client performance
b) Financial feasibility
c) Administrative performance
d) Project forecasting
e) Closure of facilities
Response: See section 8.3
Level: difficult
Short Answer
58. What criteria should be included in evaluating a project?
Response: See section 8.1
Level: medium
59. List several key items to consider for project evaluation report recommendations.
Response: See section 8.1
Level: medium
60. Briefly describe and contrast general audits, detailed audits, and technical audits.
Response: See section 8.2
Level: medium
61. What are the steps in a project audit?
62. What content should be included in the audit report?
Level: medium
66. What issues should be addressed in the project final report?
Response: See section 8.3
Level: medium
67. What is the difference between financial audits and project audits?
Response: See section 8.2
Level: medium
68. Describe what type of information would be in the risk analysis and risk management section of the audit report?
Response: See section 8.2
Level: medium
69. Explain when projects should be closed.
70. Describe what type of information would be in the critical management issues section of the audit report?
Response: See section 8.2
Level: medium
71. Describe what type of information would be in the future project status section of the audit report?
Response: See section 8.2
Level: medium
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Project Management Practice 6e Complete Test Bank
By Jack R. Meredith