Management Science
Test Bank
Course Introduction
Management Science is an interdisciplinary field that applies quantitative analysis, mathematical modeling, and analytical methods to solve complex problems in business and organizational decision-making. This course covers key topics such as linear programming, decision analysis, simulation, forecasting, and optimization, equipping students with practical tools to evaluate alternatives and improve efficiency in management processes. Emphasizing real-world applications, students learn how to approach strategic, tactical, and operational challenges systematically, supporting data-driven decisions across various industries.
Recommended Textbook
Project Management in Practice 5th Edition by Jack R. Meredith
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8 Chapters
533 Verified Questions
533 Flashcards
Source URL: https://quizplus.com/study-set/1630
Page 2
Chapter 1: The World of Project Management
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70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/32366
Sample Questions
Q1) Briefly explain what a project is.
Answer: Not Answered
Q2) Which of the following is not related to the three goals of a project?
A) time
B) data
C) schedule
D) cost
E) performance
Answer: B
Q3) In Crystal Ball, cells that contain outcomes we are interested in are called
A) assumption cells
B) distribution cells
C) forecast cells
D) decision cells
E) define cells
Answer: C
Q4) Briefly describe the two different life cycles of projects.
Answer: Not Answered
Q5) Briefly describe each of the three fundamental goals of a project.
Answer: Not Answered
Page 3
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Chapter 2: The Manager, the Organization, and the Team
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68 Verified Questions
68 Flashcards
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Sample Questions
Q1) Briefly describe what is meant by the phrase "project champion?"
Answer: A project champion refers to an individual, often within an organization, who passionately supports, promotes, and advocates for a project or initiative. This person believes strongly in the project's value and potential success, and they work to garner support from others, including stakeholders and team members. The project champion typically has influence within the organization and uses it to secure resources, overcome resistance, and facilitate communication among all parties involved.
The role of a project champion is crucial for the momentum and viability of a project, especially in its early stages or during challenging periods. They are not necessarily involved in the day-to-day management of the project but are more focused on maintaining high-level support and alignment with the organization's strategic goals. By championing the project, they help to ensure that it receives the necessary attention and resources to succeed and that potential roadblocks are addressed proactively.
Q2) Briefly describe the project manager's role as a firefighter. What sorts of obstacles do project managers have to overcome?
Answer: Not Answered
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Page 4
Chapter 3: Planning the Project
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63 Verified Questions
63 Flashcards
Source URL: https://quizplus.com/quiz/32368
Sample Questions
Q1) The details of the project work force are discussed in the Resource Requirements section of the project master plan.
A)True
B)False
Answer: False
Q2) Which of the following is not an important advantage of empowerment?
A) high quality solutions
B) micromanagement avoided
C) high degree of worker specialization
D) synergistic solutions
E) timely feedback
Answer: C
Q3) The project manager can plan at all levels of the project.
A)True
B)False
Answer: False
Q4) You can depict who is responsible for a task on a RACI.
A)True
B)False
Answer: True
Page 5
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Chapter 4: Budgeting the Project
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64 Verified Questions
64 Flashcards
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Sample Questions
Q1) With top-down budgeting, overlooking a small but important task can often cause a serious budgetary problem.
A)True
B)False
Q2) Traditional organizational budgets are task-oriented, rather than activity-oriented.
A)True
B)False
Q3) The result of game theory analysis is a Risk Priority Number.
A)True
B)False
Q4) List the steps in performing FMEA.
Q5) Explain how you would use the shape of a project's life cycle to resolve budget conflicts between a superior and subordinate.
Q6) Most organizations use top-down budgeting.
A)True
B)False
Q7) Budgeting a project is often more difficult than budgeting routine activities. A)True
B)False
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Chapter 5: Scheduling the Project
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63 Verified Questions
63 Flashcards
Source URL: https://quizplus.com/quiz/32370
Sample Questions
Q1) Which of the following terms is most closely associated with a task required by the project?
A) activity
B) event
C) milestone
D) network
E) path
Q2) What are the four methods of linking steps in a project using precedence diagramming?
Q3) Technical dependencies on a project plan are easiest to see on a:
A) Gantt chart
B) Cost chart
C) PERT/CPM chart
D) Work Breakdown Structure
E) RACI Matrix
Q4) A disadvantage of Gantt charts is that they are hard to draw.
A)True
B)False
Q5) Why is it necessary for the PM to be aware and to manage the slack in the project?
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Chapter 6: Allocating Resources to the Project
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66 Verified Questions
66 Flashcards
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Sample Questions
Q1) In general, steady state demand for human resources is highly desirable.
A)True
B)False
Q2) Microsoft Project allows the project manager to create an individual availability calendar for each resource on the project
A)True
B)False
Q3) The variance of the normal time can be quite different from the variance of the crash time.
A)True
B)False
Q4) A task has a normal duration of 9 days and a crash duration of 7 days. Its normal cost is $40 and its crash cost is $100. What is the crash cost per day?
A) $140
B) $70
C) $50
D) $40
E) $30
Q5) What is the effect of not reporting the early completion of project activities?
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Chapter 7: Monitoring and Controlling the Project
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72 Verified Questions
72 Flashcards
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Sample Questions
Q1) It is often the case with particularly challenging or uncertain projects that the planning-monitoring-controlling effort is minimized so that the "real work" can be done.
A)True
B)False
Q2) An important use of data analysis is to identify who to properly blame for poor project performance.
A)True
B)False
Q3) Which of the following is most closely associated with ordinal rankings?
A) frequency counts
B) raw numbers
C) indicators
D) subjective numeric rankings
E) surrogates
Q4) In general, it is preferable to have periodic reports.
A)True
B)False
Q5) State the formula for SPI. Explain what SPI means and its relevance to monitoring and controlling a project.
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Chapter 8: Evaluating and Terminating the Project
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67 Verified Questions
67 Flashcards
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Sample Questions
Q1) Describe what type of information would be in the risk analysis and risk management section of the audit report?
Q2) The primary purpose of project evaluation is to given feedback to senior management for decision and control purposes.
A)True
B)False
Q3) List several key items to consider for project evaluation report recommendations.
Q4) 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.
A)True
B)False
Q5) Early project audits usually focus on the project's budget and schedule. A)True B)False
Q6) According to research, future potential is an important dimension of project success. A)True B)False
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Page 10