Business Administration
Review Questions
Course Introduction
Business Administration is a comprehensive course designed to introduce students to the fundamental principles and practices of managing organizations in todays dynamic business environment. The course covers key areas such as management, marketing, finance, operations, and human resources, emphasizing decision-making, strategic planning, and effective communication. Through case studies, group projects, and real-world examples, students develop critical thinking and problem-solving skills essential for leadership and success in a variety of business settings. This course serves as a foundation for advanced studies and careers in business and related fields.
Recommended Textbook
Project Management Achieving Competitive Advantage 4th Edition by Jeffrey K. Pinto
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14 Chapters
1421 Verified Questions
1421 Flashcards
Source URL: https://quizplus.com/study-set/415
Page 2
Chapter 1: Introduction: Why Project Management?
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103 Verified Questions
103 Flashcards
Source URL: https://quizplus.com/quiz/7271
Sample Questions
Q1) Which of the following is NOT a project constraint?
A) The budget
B) The customer requirements
C) The schedule
D) The technical specifications
Answer: B
Q2) Low inflation is a trigger for improved project management skills because:
A) Rampant cost increases must be passed along to the consumer.
B) Internal process improvement is accomplished via project management.
C) Lower inflation means narrower product launch windows.
D) Global markets are a prerequisite for low inflation.
Answer: B
Q3) The classic triple constraint standard for project performance is composed of time,cost,and client acceptance.
A)True
B)False
Answer: False
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Page 3
Chapter 2: The Organizational Context:
Strategy,Structure,and Culture
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103 Verified Questions
103 Flashcards
Source URL: https://quizplus.com/quiz/7272
Sample Questions
Q1) Span of control refers to:
A) The number of departments involved in a project.
B) The number of days that the project manager is allowed to complete the project.
C) The number of employees one person supervises.
D) The number of levels from top to bottom in an organization.
Answer: C
Q2) John Drone toils endlessly at Hurts Corporation on his routine assignment and also on a number of project teams.His annual evaluation features input from his line manager and each of the project managers,all of whom have equal say in how his 12-hour work day is partitioned.John Drone is employed by a:
A) Functional organization.
B) Project organization.
C) Cross-functional organization.
D) Matrix organization.
Answer: D
Q3) A project organization does not have functional departments.
A)True
B)False
Answer: False
4
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Chapter 3: Project Selection and Portfolio Management
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) A project manager is using the internal rate of return method to make the final decision on which project to undertake.Which of these four projects has the highest internal rate of return?
A) $100,000 initial outlay with $10,000 cash inflows during the first two years, $20,000 during the third and fourth years, and $30,000 during the fifth year
B) $100,000 initial outlay with a $5,000 cash inflow during the first year, $15,000 cash inflow during the second year, and $25,000 cash inflows during years three through five
C) $75,000 initial outlay with a $5,000 cash inflow during the first year, increasing by $5,000 per year through the fifth year
D) $50,000 initial outlay with $5,000 cash inflows during the first two years, $15,000 during the third and fourth years, and $20,000 during the fifth year
Answer: D
Q2) An expert's opinion on an issue may be subjective but very accurate.
A)True
B)False
Answer: True
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Chapter 4: Leadership and the Project Manager
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) Project management is first and foremost:
A) A people management challenge.
B) A customer service challenge.
C) A perception management challenge.
D) A budget management challenge.
Q2) Based on a study of successful American project managers as perceived by project team members,the most important characteristic of a project manager is:
A) Visionary.
B) Good communicator.
C) Good motivator.
D) Leadership by example.
Q3) The Bennis article on competencies that determine a project leader's success indicates that it is crucial to continually remind the team:
A) What the deadline is.
B) What is important.
C) Who their leader is.
D) Who the customer is.
Q4) What factors dictate an increased need to develop project management professionalism within an organization?
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Chapter 5: Scope Management
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) The statement of work is a detailed narrative description of the work required for a project.
A)True
B)False
Q2) The homeowner lusted over a 36,000 BTU oven in his dream kitchen,but his contractor got a deal on a 20,000 BTU oven and installed it without a peep.Thanks to:
A) Acquisition controls, the homeowner ended up with the right oven.
B) Specification controls, the homeowner ended up with the right oven.
C) Design controls, the homeowner ended up with the right oven.
D) Oven controls, the homeowner ended up with the right oven.
Q3) A priori consideration of information needs is performed:
A) Several years after a project is completed.
B) Before a project begins.
C) At the start of a project.
D) During the project.
Q4) A baseline is the project's scope fixed at a specific point in time.
A)True
B)False
Q5) What takes place at the project closeout step?
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Chapter 6: Project Team Building,Conflict,and Negotiation
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) The Dean's laissez faire attitude hit its zenith when he had missed five department chair meetings in a row despite the pressing needs of the MBA Curriculum Revision Team.No one was sure what to do so they did nothing,and the MBA program remained as it had always been as the revision team slunk back to their offices.If only there had been:
A) Better leadership, the project might have succeeded.
B) Less turnover among project members, the project might have succeeded.
C) A clear goal, the project might have succeeded.
D) More motivation among team members, the project might have succeeded.
Q2) The punctuated equilibrium model of team development says that:
A) Cataclysmic events promote growth after long periods of no change.
B) Change occurs as the team leader insists upon it.
C) There can be no equilibrium until suffering has occurred.
D) If team members are punctual, the project can achieve equilibrium.
Q3) What are the steps in assembling a project team? Which is most critical? Why?
Q4) Accessibility is the perception of the project team members that they are physically located in such a way that it is easy for them to interact.
A)True
B)False
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Chapter 7: Risk Management
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102 Verified Questions
102 Flashcards
Source URL: https://quizplus.com/quiz/7277
Sample Questions
Q1) What is the PRAM methodology and what are its salient features?
Q2) Sketch the risk level and opportunity curves as a function of the project life cycle stage.Provide an example of a project from the recent business literature or your personal experience that exhibits these characteristics.Cite specific instances where the levels of opportunity,risk,and stake fluctuated.
Q3) Technical risk is the probability that the project will not perform to the required standards or produce substandard products or have excessive operating cost consumption.
A)True
B)False
Q4) PRAM (project risk analysis and management)should be conducted as a "one-shot" activity during the project planning phase.
A)True
B)False
Q5) As risk decreases in the project life cycle,opportunity increases. A)True
B)False
Q6) Sketch a 2 × 2 risk management assessment matrix and discuss the impact of each quadrant.
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Chapter 8: Cost Estimation and Budgeting
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) There was no way that the study tour to Italy could cost only $1500 for 14 days and 13 nights and include all transportation,meals and hotels,but the smarmy professor knew that students would balk at a higher advertised price.Once they were thousands of miles away from home in a country where none of them spoke the language it would be easier to tell them about unanticipated charges and approach the more realistic price of $3500 per person.This type of:
A) Specification change is a common reason for a cost overrun.
B) Lack of definition is a common reason for a cost overrun.
C) Low initial estimate is a common reason for a cost overrun.
D) Unexpected technical difficulty is a common reason for a cost overrun.
Q2) What's the relationship between WBS,scheduling,and budgeting?
Q3) Which of these is typically a nonrecurring cost?
A) Site study
B) Labor
C) Material
D) Sales
Q4) Explain the difference between normal and expedited costs,fixed and variable costs,and recurring or nonrecurring costs.Create a 2 × 2 × 2 matrix and provide one example each (8 total examples)of each combination of these costs.
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Chapter 9: Project Scheduling: Networks,Duration
Estimation,and Critical Path
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105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/7279
Sample Questions
Q1) A backward pass is performed when it is necessary to undo some work that has been performed in order to complete it properly.
A)True
B)False
Q2) Activities C,D,and E in the project represented by the network are to be hammocked.What are the late start and early finish times of the hammock activity?
A) 6, 24
B) 6, 26
C) 8, 24
D) 8, 26
Q3) Preceding activities are those that must occur before others can be done.
A)True
B)False
Q4) Which of these statements about this network is BEST?
A) Activities A and B are serial activities.
B) Activities B and C are serial activities.
C) Activities A and C are serial activities.
D) Activity D is a merge activity.
Q5) What are hammock activities and when should they be used?
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Chapter 10: Project Scheduling: Lagging, Crashing, and Activity Networks
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96 Verified Questions
96 Flashcards
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Sample Questions
Q1) An activity performed by a subcontractor is scheduled for 20 weeks at an anticipated cost of $100,000.Due to slippage on the critical path you need to reduce this activity by three weeks.If the subcontractor informs you that the activity can be completed in 16 weeks for $200,000,what is the slope for the activity?
A) $5,000 per week
B) $33,333 per week
C) $25,000 per week
D) $12,500 per week
Q2) Which of the activities in the diagram have slack?
A) C and D
B) B and D
C) C and E
D) B and E
Q3) What is the duration of the project shown in the network?
A) 36
B) 37
C) 38
D) 39
Q4) What are the strengths and weaknesses of AOA and AON techniques?
Page 12
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Chapter 11: Advanced Topics in Planning and Scheduling:
Agile and Critical Chain
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101 Verified Questions
101 Flashcards
Source URL: https://quizplus.com/quiz/7281
Sample Questions
Q1) Your boss catches you at the water cooler one morning and assigns you an important task-to remove all the constraints from your project using the Theory of Constraints (TOC)five step process.What should your response be to your boss??
Q2) List any three criticisms of critical chain project management and rank them in order from the greatest to smallest threat to universal adoption of CCPM.
Q3) A scrum is one iteration of the Agile planning and executing cycle,that is,the actual "work" being done.
A)True
B)False
Q4) In Agile Project Management,the term "scrum" refers to:
A) A period of enforced chaos.
B) A meeting.
C) The time when code is actually being written.
D) Disagreements between the customer and the project team.
Q5) The critical chain is usually the same as the critical path.
A)True
B)False
Q6) What are the formal steps to apply CCPM to multiple project portfolios?
Page 13
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Chapter 12: Resource Management
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99 Verified Questions
99 Flashcards
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Sample Questions
Q1) Use the project described in the table to determine the total resources required for this project on day 10 if a worker is expected to devote half-time (four hours per day)to this project.Assume that the project work is conducted on a 5-day-per-week basis. \[\begin{array} { | l | l | l | }
\hline \text { Activity } & \text { Duration } & \text { Predecessor } \\
\hline \mathrm { A } & 5 \text { days } & - \\
\hline \mathrm { B } & 4 \text { days } & \mathrm { A } \\
\hline \mathrm { C } & 5 \text { days } & \text { A } \\
\hline \mathrm { D } & 6 \text { days } & \mathrm { B } \\
\hline \mathrm { E } & 6 \text { days } & \mathrm { C } , \mathrm { D } \\
\hline \mathrm { F } & 6 \text { days } & \mathrm { E } \\
\hline \end{array}\]
A) 5 hours
B) 10 hours
C) 4 hours
D) 8 hours
Q2) What are the trade-offs among schedule slippage,resource utilization,and in-process inventory for a project manager in a multi-project environment?
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Chapter 13: Project Evaluation and Control
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104 Verified Questions
104 Flashcards
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Sample Questions
Q1) Briefly describe the important differences between Earned Value Management and Earned Schedule.Why is Earned Schedule gaining acceptance in project management circles?
Q2) Use the information in the table regarding this seven-month project to calculate the SPI in terms of dollars and compare it with the SPI calculated in terms of time.Perform both calculations for months 1 through 6.Then use the SPI(t)to provide the Estimate at Completion for Time (EACt). \(\begin{array}{|l|l|l|l|l|l|l|l} & \text { Month } 1 & \text { Month } 2 & \text { Month } 3 & \text { Month 4 } & \text { Month } 5 & \text { Month } 6 & \text { Month } 7 \\ \hline \text { PV (\$) } & \$ 125 & \$ 275 & \$ 500 & \$ 875 & \$ 1,485 & \$ 2,325 & \$ 2,670 \\ \hline \text { EV (\$) } & \$ 150 & \$ 320 & \$ 510 & \$ 850 & \$ 1425 & \$ 2280 & \$ 0 \\ \hline \end{array}\)
Q3) What are drawbacks to a pure S-curve analysis?
Q4) What are the inputs and the steps in applying earned value management as a project management tool?
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Chapter 14: Project Closeout and Termination
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101 Verified Questions
101 Flashcards
Source URL: https://quizplus.com/quiz/7284
Sample Questions
Q1) The final project report should answer questions related to project performance,such as:
A) How the organization's operating structure either helped or hindered the project team and their efforts.
B) How the project fared compared to baseline schedule and budget.
C) How consistently the organization estimated the completion time for activities.
D) How close the project came to achieving its goals.
Q2) Which of these statements about early termination decisions is BEST?
A) The decision to pull the plug is usually clear-cut.
B) A project's viability is usually a purely internal issue.
C) Projects that can fulfill a useful purpose in the marketplace are not killed.
D) External reasons, such as a change in the organization's environment, are often the reasons for project termination.
Q3) An example of an external intellectual issue is:
A) The control of charges to the project.
B) The screening of partially completed tasks.
C) The identification of outstanding commitments.
D) The determinants of requirements for audit trail data.
Q4) Describe the four early warning signs of project failure.
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