Projects that address broad organizational needs are likely to failFalse;succeedAs projects progress, the organization must reevaluate the need, funding, and will for each project to determine if the project should be continued, redefined, or terminated.TrueOpportunities and directives are essentially the same thing.False;directives are requirementsopportunites are chancesProjects that arise as a result of problems and directives must be resolved quickly to avoid hurting an organization’s business.TrueThe organization should complete low-priority projects before high-priority ones, if the low-priority ones take less time.
False;high is always firstAn organization should consider only projects with a negative NPV if financial value is a key criterion for project selection.False;positive not negative
NPV analysis is a method for making equal comparisons between cash flows for multi-year projects.TrueAn annual discount factor is a multiplier for each year based on the discount rate and year.TrueThe ROI is always positive.False;can be +/- cuz its %Payback period is the amount of time it will take to recoup, in the form of net cash inflows, the total dollars invested in a project.TrueA project charter typically does not authorize the project manager to use organizational resources to complete the project.False;it does authorizeSome organizations initiate projects using a contract in place of a project charter.TrueThe introduction or overview of a project must only include a list of definitions and acronyms.False;includes various thingsA Gantt chart is the same as a project management plan.False;moreIt is necessary that IT project managers have prior technical experience in creating and managing IT products.False;helpful but not necessaryCorrective actions reduce the probability of negative consequences associated with project risks, while preventive actions should result in improvements in project performance.False:prevent to reducecorrective to improveChange requests are always made in writing.TrueOrganizational process asset updates are an important output of the closing process of a project.True_____ involves working with stakeholders to create the document that formally authorizes a project.Developing the project charter_____ involves coordinating all planning efforts to create a consistent, coherent document.Developing the project management planThe outputs of the _____ process include change request status updates, project management plan updates, and project document updates.monitoring and controllingThe first step in the planning process is _____.to tie the information technology strategic plan to the organization’s overall strategic planThe _____ stage of information technology planning outlines business processes that are central to achieving strategic goals and helps determine which ones could most benefit from information technology.a.business area analysisIn the _____ stage of selecting information technology projects, organizations define project scope, benefits, and constraints.Project PlanningIn the _____ stage of selecting information technology projects, organizations select information technology projects.resource allocation_____ are new requirements imposed by management, government, or some external influence.Directives_____ analysis is a method of calculating the expected net monetary gain or loss from a project by discounting all expected future cash inflows and outflows to the present point in time.Net present value(NPV)Benefits minus costs is known as the _____.Cash FlowThe first step in determining the NPV is to _____.determine the estimated costs and benefits for the life of the project and the products it producesWhich of the following is true of return on investment or ROI?It is always a percentage.The _____ is the minimum acceptable rate of return on an investment.required rate of returnPayback occurs when:the net cumulative benefits equal the net cumulative costs.A project’s internal rate of return can be determined by finding what discount rate results in an NPV of _____ for the project.0In a weighted scoring model, the sum of the weights of all the criteria must total _____ percent.100A _____ is a document that recognizes the existence of a project and provides direction on the project’s objectives and management.project charterThe business case includes information on _____.the project objective, high-level requirements, and time and cost goalsWhich of the following are organizational process assets?Management systemsA _____ is a document used to coordinate all project planning documents and help guide a project’s execution and control.project management planThe _____ section of the project plan should describe the major project functions and activities and identify those individuals who are in charge of them.project responsibilitiesThe _____ section of the project management plan describes how to monitor project progress and handle changes.project controlsThe project schedule information section of the project management plan includes ____.an elaborate timetableThe _____ section of the project management plan describes specific methodologies a project might use and explains how to document information.technical processesThe majority of time on a project is usually spent on _____, as is most of the project’s budget.execution_____ should result in improvements in project performance.Corrective actionsWhich of the following is a proactive process undertaken to reduce the probability of negative consequences associated with project risks?Preventive actionsAn IT company revises its process parameters in response to complaints from vendors that products were not ready on time. This would be an example of _____.a corrective actionA(n) _____ is a formal, documented process that describes when and how official project documents may be modified, the people authorized to make modifications, and the paperwork required for these changes.change control system____ involves identifying and controlling the functional and physical design characteristics of products and their support documentation, and ensures that the descriptions of the project’s products are correct and complete.Configuration managementWhich process involves selecting information technology projects and assigning resources?Which process involves selecting information technology projects and assigning resources? NPV analysis is a method for making equal comparisons between cash flows for multi-year projects.
Which of the term represent the result of subtracting the project costs from the benefits and then dividing by the costs?It is one way of considering profits in relation to capital invested. This is calculated by subtracting the project's costs from the benefits and then dividing by the costs. For example, if you invest $100 and your investment is worth $110 next year, the ROI is (110 − 100) ÷ 100 = 0.1 or a 10% return.
What is the process of identifying and managing the points of interaction between various elements of the project?Terms in this set (77). In project integration management, directing and managing project execution involves carrying out the project management plan by performing the activities included in it. ... . Interface management involves identifying and managing the point of interaction between various elements of a project.. In what type of organizational structure do project managers have the most authority?In a functional organization, project managers have more authority than they do in a matrix organization. More people work full time on projects in a functional organization than a matrix organization.
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An organizations information technology project selection process should guide the strategic plan
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