Business Administration
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Course Introduction
Business Administration is a comprehensive course designed to introduce students to the fundamental principles and practices of managing and operating a business. The course covers key areas such as organizational structure, strategic planning, human resource management, marketing, finance, and operations. Emphasizing both theoretical frameworks and practical applications, students explore the challenges and opportunities faced by businesses in a global economy. Through case studies, group projects, and real-world examples, students develop analytical, leadership, and problem-solving skills essential for effective decision-making and successful business management.
Recommended Textbook
Project Management Achieving Competitive Advantage 5th Edition by Jeffrey K. Pinto
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14 Chapters
1457 Verified Questions
1457 Flashcards
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Chapter 1: Introduction: Why Project Management
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Maynard and Zed construct a spider-web diagram for their latest initiative at the pawn shop.The rings of their spider web diagram show:
A)The dimensions or success factors that are most important to the pawn shop.
B)The scores achieved on each of the dimensions.
C)The competitive comparison among other pawn shop projects.
D)The relative importance of each of the dimensions or critical success factors.
Answer: B
Q2) The dimension of project success that is realized last (chronologically)is:
A)Future potential.
B)Business success.
C)Impact on the customer.
D)Efficiency.
Answer: A
Q3) 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
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Page 3
Chapter 2: The Organizational Context: Strategy, Structure, and Culture
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) One element of strategic management is cross-functional decision making.
A)True
B)False
Answer: True
Q2) Which of the following is NOT an element of organizational structure?
A)Well-articulated mission,vision,and value statements
B)Formal reporting relationships
C)Grouping together of individuals into departments
D)Systems designed to ensure effective communication
Answer: A
Q3) A failing project becomes a black hole for money,time,and personnel as management continues to pour resources into it despite the growing expectation that it will fail miserably.This phenomenon is known in project management circles as:
A)The vanishing horizon.
B)The Pareto principle.
C)Escalation of commitment.
D)Negative outcome disposition.
Answer: C
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Chapter 3: Project Selection and Portfolio Management
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103 Verified Questions
103 Flashcards
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Sample Questions
Q1) Souder's model selection criterion that encourages ease of adaptation to changes in tax laws,building codes,among others,is called:
A)Ease of use.
B)Cost.
C)Capability.
D)Flexibility.
Answer: D
Q2) The efficient frontier in a profile model is the set of options that offers a maximum return for a given level of risk or a minimum risk for every level of return.
A)True
B)False
Answer: True
Q3) Project portfolio management is typically NOT used to balance:
A)Human and technical resources.
B)Risk and return.
C)Efficiently run projects and nonperformers.
D)Various families of projects.
Answer: A
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Chapter 4: Leadership and the Project Manager
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) According to PMI's code of ethics,project managers have a high regard for themselves,others,and the resources entrusted to them.This is best described as:
A)Responsibility.
B)Respect.
C)Fairness.
D)Honesty.
Q2) What are any three types of project champions and how are they different?
Q3) If all the project management studies discussed in the text are synthesized,it quickly becomes apparent that the key to understanding leadership behavior is to focus on:
A)Where in the organizational hierarchy the project leaders are located.
B)Where in the organizational hierarchy the project team members are located.
C)Who the leaders are.
D)What the leaders do.
Q4) A project manager may also be the project champion.
A)True
B)False
Q5) What are some ways project managers can acquire additional resources if they feel their project lacks sufficient support?
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Chapter 5: Scope Management
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111 Verified Questions
111 Flashcards
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Sample Questions
Q1) The project's scope fixed at a specific point in time is the:
A)Scope.
B)Design.
C)Historical standard.
D)Baseline.
Q2) The step that reflects the formal "go ahead" given to the project to commence once the scope definition,planning documents,and other contractual documents have been prepared and approved is the:
A)Go ahead.
B)Send off.
C)Work authorization.
D)Work release.
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) What is the purpose of controls? Describe any three types of control systems.
Q5) Provide an example of work breakdown structure and indicate what purpose WBS serves.
7
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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) What are the primary ways of resolving conflict? Which is most effective?
Q2) The Liberal Arts faculty failed to see the reason that every professor on campus would not make exactly the same amount of money,arguing that every person is of equal value.The business faculty relied on the laws of supply and demand and market forces to guide their wages and couldn't fathom why their counterparts could be such dunderheads.The source of conflict between these two groups is:
A)Differentiation.
B)Uncertainty.
C)Reward systems.
D)Structural.
Q3) High turnover among project team members is a key element of success since new team members will bring fresh perspectives and ideas to the group.
A)True
B)False
Q4) The two main challenges that virtual project teams face are building trust and establishing the best modes of communication.
A)True
B)False
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8
Chapter 7: Risk Management
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102 Verified Questions
102 Flashcards
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Sample Questions
Q1) Risks can be quantified by multiplying the likelihood a failure will occur by the severity of the failure.
A)True
B)False
Q2) Risk management is a:
A)Three-stage process.
B)Four-stage process.
C)Five-stage process.
D)Six-stage process.
Q3) Project risk is lowest during the:
A)Conceive phase of the project life cycle.
B)Execute phase of the project life cycle.
C)Finish phase of the project life cycle.
D)Develop phase of the project life cycle.
Q4) One source of information on future risks and the leading indicators that accompany risks is:
A)A brainstorming meeting.
B)The Delphi method.
C)Past history.
D)Multiple assessments.
Page 9
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Chapter 8: Cost Estimation and Budgeting
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) The new bridge would require 14 piers to support it and it was known that each time a pier is sunk into the harbor it would take 30 man hours of labor at $50 per hour.An activity-based costing of the entire pier system results in a total labor cost of:
A)$19,500.
B)$21,000.
C)$22,500.
D)$24,000.
Q2) 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.
Q3) The project management research in brief titled "Delusion and Deception Taking Place in Large Infrastructure Projects," describes three reasons that cost overruns occur in large infrastructure project work.Briefly describe these three reasons
Q4) Normal conditions,by definition,occur the vast majority of the time in project management.
A)True
B)False
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Chapter 9: Project Scheduling: Networks, Duration
Estimation, and Critical Path
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Use the information in the table to sketch the network and compute early and late start times.
\[\begin{array} { | l | l | l |}
\hline\text { Activity } & \text { Time } & \text { Predecessor } \\
\hline \text { A } & 8 & \\
\hline \mathrm{B }& 4 & \mathrm{A} \\
\hline \mathrm { C } & 5 & \mathrm { B }, \mathrm {~F} \\
\hline \mathrm { D } & 12 & \mathrm {~A} \\
\hline \mathrm { E } & 8 & \mathrm { D } \\
\hline \mathrm { F } & 4 & \mathrm { D } \\
\hline \mathrm { G } & 9 & \mathrm { E } , \mathrm {~F} \\
\hline \mathrm { H } & 12 & \mathrm { G } \\
\hline \mathrm { I } & 6 & \mathrm { C } , \mathrm { G } \\
\hline \mathrm { J } & 5 & \mathrm { I } \\
\hline \mathrm { K } & 9 & \mathrm { H } \\
\hline \mathrm { F } & 12 & \mathrm {~J} , \mathrm {~K} \\
\hline
\end{array}\]
Q2) What are three methods of duration estimation for project activities and what are the advantages and disadvantages of each method?
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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) What is the late finish for activity D in the network shown in the diagram?
A)15
B)16
C)17
D)18
Q2) Dummy activities are used in AOA networks to indicate the existence of precedent relationships between activities and their event nodes.
A)True
B)False
Q3) A basic Gantt chart:
A)Clearly displays early and late start and finish times for all activities.
B)Cannot be used to track the project's progress.
C)Permits scheduling resources well before they are needed.
D)Shows dummy activities to preserve network logic.
Q4) The process of accelerating a project is referred to as:
A)Streamlining.
B)Expediting.
C)Rushing.
D)Crashing.
12
Q5) What are the strengths and weaknesses of AOA and AON techniques?
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Chapter 11: Advanced Topics in Planning and Scheduling:
Agile and Critical Chain
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Sample Questions
Q1) What is the motivation for programming in pairs using one terminal? How can this approach be more productive than having each of the two programmers at his own terminal?
Q2) A key to successful project management is ________ leadership.
A)Theory X
B)Authoritarian
C)Charismatic
D)Servant
Q3) CCPM advocates performing all non-critical activities:
A)As late as possible.
B)As early as possible.
C)Before starting the critical path.
D)After completing the critical path.
Q4) What are some arguments against the XP technique of pair programming?
Q5) A system-wide constraint is called a:
A)Rope.
B)Resource.
C)Drum.
D)Chain.
Page 13
Q6) What takes place in the Scrum process?
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Page 14
Chapter 12: Resource Management
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98 Verified Questions
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Sample Questions
Q1) Use the project described in the table to determine the total resources required for this project if a worker is expected to devote half-time (four hours per day)to this project.
\[\begin{array} { | l | l | l |}
\hline \text { Activity } & \text { Duration } & \text { Predecessor } \\
\hline \text { A } & 5 \text { days } & - \\
\hline B & 4 \text { days } & \text { A } \\
\hline C & 5 \text { days } & \text { A } \\
\hline \mathrm { D } & 6 \text { days } & B \\
\hline E & 6 \text { days } & C , D \\
\hline F & 6 \text { days } &\mathrm { E } \\
\hline
\end{array}\]
A)36 hours
B)40 hours
C)64 hours
D)128 hours
Q2) What are any four heuristics for prioritizing resource allocation to activities? Why would a project manager choose one above another?
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Chapter 13: Project Evaluation and Control
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107 Verified Questions
107 Flashcards
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Sample Questions
Q1) Earned value directly links all three primary project success metrics (cost,schedule,and customer satisfaction).
A)True
B)False
Q2) During the ________ stage of the EVM flow at Northrop Grumman,performance is measured,schedules are updated,and all significant variances are identified and reported.
A)contract award
B)proposal
C)baseline
D)maintenance phase
Q3) It is possible to measure:
A)Only positive deviations from the schedule baseline with a tracking Gantt chart.
B)Only negative deviations from the schedule baseline with a tracking Gantt chart.
C)Both positive and negative deviations from the schedule baseline with the tracking Gantt chart.
D)Both positive and negative deviations from the budget with the tracking Gantt chart.
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Chapter 14: Project Closeout and Termination
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) The final items that are left to accomplish or correct at the end of a construction project are on the:
A)Punch list.
B)Check list.
C)Check sheet.
D)Errata sheet.
Q2) A final report section on the techniques of project management would include an honest assessment of whether the:
A)Benefits promised to the client were actually delivered.
B)Resource costs could be better estimated.
C)Project workers came together as a team.
D)The project finished on time.
Q3) The actual carryover from one project to another is minimal because projects are unique,one-time events.
A)True
B)False
Q4) Getting the project signed off may discourage other closeout activities.
A)True
B)False
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