Q&A Hero

Q: A plan must be developed that identifies and assesses potential risks, determines the likelihood of occurrence and potential impacts of risks, and delineates responses for dealing with risksa. risk developmentb. risk managementc. risk mitigationd. risk avoidance

Q: Costs for resources on a project could include all the following excepta. fees for subcontractors to perform project tasksb. salaries of people who will work on the projectc. rental of facilitiesd. costs for equipment that extends beyond the project time

Q: The project budget is based ona. how well the project manager can use accounting software.b. the estimated costs associated with the quantities of resources to be used.c. the actual costs of the resources used for the project.d. the costs to do the resources before any indirect costs.

Q: The usually states the time by which a project scope must be completed in terms of the specific date agreed upon by the sponsor.a. Project scheduleb. Project objectivec. Task timetabled. Project scope

Q: The following mechanisms help to assure quality expectations are met:a. Audits, inspections, and standards throughout the project.b. Inspections only at the end of the project.c. Only a list of standards is needed at the start of the projectd. No mechanisms are needed to assure quality.

Q: Which of the following is not an example of a project?a. Starting-up a restaurantb. Creating a website for a companyc. Raising money for a disaster relief tripd. Emptying the recycling everyday

Q: A satisfied customer is a benefit of implementing project management techniques.a. Trueb. False

Q: The Project Management Institute is a worldwide not-for-profit organization of practitioners that certifies project management professionals. a. True b. False

Q: Globalization changes the dynamics of a project and adds a layer of complexity that can reduce the risks of accomplishing the project outcome.a. Trueb. False

Q: The project budget includes costs for each activity plus other project costs such as administrative costs and overhead costs.a. Trueb. False

Q: The types and quantities of resources to be used for the activities are the base for the estimated project cost.a. Trueb. False

Q: The estimated duration of the project is dependent upon the sequence of activities.a. Trueb. False

Q: The amount of estimated resources helps to determine the estimated durations.a. Trueb. False

Q: A work breakdown structure shows the necessary sequence and dependent relationships of the detailed activities for a project.a. Trueb. False

Q: A person or organization responsible for each work item should be identified to assign responsibility while planning the project.a. Trueb. False

Q: A network diagram is a hierarchical decomposition of the project scope into work elements to be executed to produce the project deliverables.a. Trueb. False

Q: The project scope document should include a list of deliverables and associated acceptance criteria.a. Trueb. False

Q: When establishing the project objectives, the objective must be agreed upon by the project sponsor.a. Trueb. False

Q: A request for proposals is used to initiate all projects by communicating that a project is needed.a. Trueb. False

Q: A project is initiated when a need is identified by a contractor.a. Trueb. False

Q: The level of effort is the same for all four phases of the generic project life cycle.a. Trueb. False

Q: The collapse of a retaining wall could be a risk to the project objective for a garden construction project.a. Trueb. False

Q: The amount the sponsor has agreed to pay for acceptable project deliverables is the project budget.a. Trueb. False

Q: The schedule for a project is a timetable with only start times for tasks.a. Trueb. False

Q: Quality expectations are only defined at the start of the project.a. Trueb. False

Q: All the work involved with clearing a sidewalk after a heavy snow storm is an example of a project's scope.a. Trueb. False

Q: The project scope is all the work that must be done in order to produce all the project deliverables, satisfy the customer, and accomplish the project objective.a. Trueb. False

Q: Projects are constrained only by the scope, schedule, and budget.a. Trueb. False

Q: The project objective requires completing the project work scope and producing all the deliverables by a certain time and within budget.a. Trueb. False

Q: The project objective is usually defined in terms of end product, schedule, and budget.a. Trueb. False

Q: A project objective is the tangible end product that the project team must produce or deliver.a. Trueb. False

Q: Determining the market for a product for a gain of 5% market share within 18 months and $20,000 budget. This is an example of a project objective.a. Trueb. False

Q: Introduction of a new process to ship packages for a firm is an example of a project objective.a. Trueb. False

Q: A project is completed through a number of repetitive tasks.a. Trueb. False

Q: A project's stakeholders will always include only representatives from the sponsor's organization.a. Trueb. False

Q: People are the only resource used in a project.a. Trueb. False

Q: A project involves degree of uncertainty that remains the same as the project progresses.a. Trueb. False

Q: The sponsor provides funds to accomplish the project.a. Trueb. False

Q: A project has a sponsor or customer.a. Trueb. False

Q: A project has an unlimited time frame.a. Trueb. False

Q: Resources can include people, organizations, equipment, materials, and facilities.a. Trueb. False

Q: A project utilizes various resources to carry out the tasks.a. Trueb. False

Q: A project is carried out through a series of independent tasks. a. True b. False

Q: Expected benefits and outcomes may be included in the project objective.a. Trueb. False

Q: The project objective requires completing the project work scope on time and within budget.a. Trueb. False

Q: A project has a clear objective.a. Trueb. False

Q: Every project has a starting date and an ending date.a. Trueb. False

Q: A project is an endeavor to accomplish a specific objective through a unique set of nonrelated tasks and the effective utilization of resources.a. Trueb. False

Q: The outcome of a project is a tangible end product.a. Trueb. False

Q: A group volunteered to keep a section of highway clean. This is an example of a project.a. Trueb. False

Q: The Department of Transportation hired a company to build a six-lane highway between two cities. This is an example of a project.a. Trueb. False

Q: A research firm secured $2 million to evaluate the treatment of water in selected countries over the next three years. This is an example of a project.a. Trueb. False

Q: A project is an endeavor to accomplish a specific objective through a unique set of interrelated tasks and the effective utilization of resources.a. Trueb. False

Q: Operating on a global scale is one goal of collaborative commerce.

Q: Private industrial networks are usually owned collectively by the major firms participating in the network, while exchanges usually are created by a single sponsoring company.

Q: A private industrial network is an independently owned online marketplace that connects many suppliers and buyers.

Q: Walmart is the largest purchaser of consumer goods in the world.

Q: Which of the following is not a typical barrier to the implementation of a private industrial network? A) It requires participating firms to share sensitive data. B) It requires the large network owners to give up some of its independence. C) It requires a significant investment of time and money. D) It requires a change of mindset and behavior of employees.

Q: All of the following are forms of collaboration among businesses except: A) RFQs. B) CPFR. C) demand chain visibility. D) marketing coordination and product design.

Q: Private industrial networks are direct descendants of: A) e-procurement Net marketplaces. B) existing EDI networks. C) independent exchanges. D) industry consortia.

Q: ________ is another name for transorganizational business processes. A) Supply chain management B) Collaborative commerce C) B2B e-commerce D) Value chain management

Q: Walmart's global supply chain has been criticized for all of the following except: A) exploiting labor in underdeveloped countries. B) bribing officials. C) wasting energy. D) failing to be efficient.

Q: Describe at least five characteristics of Net marketplaces.

Q: What services do e-procurement Net marketplaces provide?

Q: Exchanges are closely tied to ERP systems used by large firms.

Q: Industry consortia are more focused on optimizing long-term relationships than independent exchanges, which tend to focus more on short-term purchasing relationships.

Q: E-distributors operate in vertical markets.

Q: Industrial consortia were the first form of Internet-based B2B commerce.

Q: WW Grainger is an example of a(n) ________. A) e-distributor B) exchange C) private industrial network D) e-procurement Net marketplace

Q: The Seam is an example of an ________. A) exchange B) industry consortium C) e-procurement Net marketplace D) e-distributor

Q: An ________ serves businesses that primarily buy direct goods on a contract purchasing basis. A) e-distributor B) e-procurement company C) exchange D) industry consortium

Q: Which of the following is an example of an e-procurement Net marketplace? A) TheSeam B) Ariba C) Grainger D) SupplyOn

Q: An ________ primarily serves businesses that primarily buy indirect goods on a contract purchasing basis. A) e-distributor B) e-procurement Net marketplace C) exchange D) industry consortium

Q: E-distributors: A) make money by charging a mark-up on products they distribute. B) usually operate "private" markets. C) operate in vertical markets. D) focus on selling direct products.

Q: An ________ primarily serves businesses that buy indirect goods on a spot purchasing basis. A) e-distributor B) e-procurement company C) exchange D) industry consortium

Q: An ________ provides electronic catalogs that represent the products of thousands of direct manufacturers. A) e-distributor B) e-procurement company C) exchange D) industry consortium

Q: Which of the following primarily involve long-term sourcing? A) e-distributors and exchanges B) e-distributors and industry consortia C) e-procurement Net marketplaces and exchanges D) e-procurement Net marketplaces and industry consortia

Q: Which of the following primarily deal with direct goods? A) e-distributors and independent exchanges B) exchanges and e-procurement Net marketplaces C) exchanges and industry consortia D) e-procurement Net marketplaces and industry consortia

Q: Which of the following primarily deal with indirect goods? A) e-distributors and industry consortia B) e-distributors and e-procurement Net marketplaces C) exchanges and industry consortia D) exchanges and e-procurement Net marketplaces

Q: Which of the following primarily serve horizontal markets? A) e-distributors and exchanges B) e-distributors and e-procurement Net marketplaces C) e-procurement Net marketplaces and industry consortia D) exchanges and industry consortia