Management Science
Test Preparation
Course Introduction
Management Science is the application of analytical methods and quantitative techniques to decision-making and problem-solving in organizations. This course integrates concepts from operations research, statistics, economics, and information systems to model complex business scenarios, optimize resource allocation, and improve organizational efficiency. Students will explore topics such as linear programming, decision analysis, simulation, and project management, learning to use mathematical tools and software to facilitate effective management strategies in various functional areas. The course emphasizes both theoretical foundations and real-world applications, preparing students to approach managerial challenges with systematic and data-driven solutions.
Recommended Textbook
Project Management The Managerial Process 5th Edition by Erik Larson
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Page 2
Chapter 1: Modern Project Management
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Sample Questions
Q1) In practice, the amount of work accomplished in each stage of the Project Life Cycle will vary greatly depending on the department or work group.
A)True
B)False
Answer: True
Q2) Because of the significant loss in potential product revenue, "time to market" has become one of the most critical factors in developing new products.
A)True
B)False
Answer: True
Q3) WBS, schedules, and budgets are examples of the _________ dimension of the project management process.
Answer: technical
Q4) Smaller projects in larger organizations tend not to need project management skills.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Organization Strategy and Project Selection
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Sample Questions
Q1) Xerox's ALTO computer and the Ford Mustang are examples of the significance that ________ can play in project management.
Answer: politics
Explanation: Politics can play a role not only in project selection but also in the aspirations behind projects.Individuals can enhance their power within an organization by managing extraordinary and critical projects.Power and status naturally accrue to successful innovators and risk takers rather than to steady producers.Many ambitious managers pursue high-profile projects as a means for moving quickly up the corporate ladder.
Q2) In classifying the kinds of projects an organization has in its portfolio, ________ projects are typically those that directly support the organization's long run mission.
Answer: strategic
Explanation: Strategic projects are those that directly support the organization's long-run mission.They frequently are directed toward increasing revenue or market share.
Q3) Identify and briefly describe the four components of strategic management and why they must be strongly linked.
Answer: 1) mission, 2) goals and objectives, 3) strategy, and 4) implementation
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Page 4
Chapter 3: Organization: Structure and Culture
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Sample Questions
Q1) Matrix management violates the management principle of A)Span of control
B)Unity of command
C)Parity principle
D)Empowerment
E)All of these management principles
Answer: B
Q2) Bill is working on a project involving the upgrading of a management information system.The project is being managed by the information systems department with coordination with other departments occurring through normal channels.He is working in a _________ organization.
A)Functional
B)Balanced matrix
C)Weak matrix
D)Strong matrix
E)Project
Answer: A
Q3) Identify and briefly describe the three forms of organizing projects using the matrix management approach.
Answer: 1.weak matrix, 2.balanced matrix, and 3.strong matrix.
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Chapter 4: Defining the Project
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Sample Questions
Q1) Identify and briefly describe the three elements that are traditionally used to measure the ultimate success of a project.
Q2) In a ________ the project is organized around phases or groups of activities rather than the more conventional deliverables.
Q3) In making project trade-offs, a criteria that is allowed to not meet the original target is classified as ________.
Q4) Scope definitions are usually brief with only one or two pages being typical for small projects.
A)True
B)False
Q5) In a work breakdown structure the ________ is the focal point because all budgets, work assignments, time, cost, and technical performance come together at that point.
Q6) Project scope describes what you expect to deliver to your customers when the project is complete.
A)True
B)False
Q7) In terms of project management, what is a deliverable and give an example.
Page 6
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Chapter 5: Estimating Project Times and Costs
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Sample Questions
Q1) Identify and briefly describe the two major categories of estimating project time and costs.
Q2) The ________ approach to estimating project time and cost begins with an overall estimate for the project and then refines estimates for various stages of the project as it is implemented.
Q3) Top-down estimates usually are derived from someone who uses experience and/or information to determine the project duration and total cost.
A)True
B)False
Q4) Which of the following is not one of the bottom-up approaches to estimating project time and cost?
A)Parametric procedures applied to specific tasks
B)Estimates for the WBS work packages
C)Learning curve
D)Template method
E)All of these are bottom-up approaches
Q5) In the ________ method of estimating project time and costs past projects are used as a starting point with adjustments made based on differences in the new project.
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Chapter 6: Developing a Project Plan
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Sample Questions
Q1) What is the Concurrent Engineering Approach and why should project managers be aware of it?
Q2) Project networks are built using nodes and arrows.
A)True
B)False
Q3) Only activities that occur at the end of a chain of activities can have free slack.
A)True
B)False
Q4) An activity is an element of the project that always requires time but may or may not require resources.
A)True
B)False
Q5) Which of the following correctly calculates the late start for an activity?
A)EF - DUR
B)ES - DUR
C)LF - DUR
D)ES - SL
E)LF - SLACK
Q6) What is a hammock activity and give an example?
Page 8
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Chapter 7: Managing Risk
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Sample Questions
Q1) Which of the following is used to review activity and project risk?
A)NPV
B)S-curves
C)PERT
D)Decision trees
E)All of these can be used
Q2) ________ reserves are controlled by the project manager and used to cover major unforeseen risks to the entire project.
Q3) The vertical scale on the Risk Severity Matrix measures the _________ of a potential risk event.
Q4) What is Change Control Management and what function does it perform?
Q5) One of the keys to success in risk identification is
A)Critical thinking
B)Optimism
C)Pessimism
D)A "can do" attitude
E)All of these are correct
Q6) The easiest and most commonly used technique for analyzing risks is ________.
Q7) What is a risk profile and what benefits does it provide to risk management?
Page 9
Q8) What is a Risk Severity Matrix and what does it do?
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Chapter 8: Scheduling Resources and Costs
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Sample Questions
Q1) Sam the project engineer has been scheduled to run the product system test at the same time he is to build a marketing prototype.This is an example of a ______ constraint.
A)Physical
B)Technical
C)Resource
D)Scheduling
E)Time
Q2) Heuristics are used in resource-constrained projects to develop the optimal schedule.
A)True
B)False
Q3) Identify and briefly describe the two classifications of scheduling problems.
Q4) Trying to renovate a ship compartment that is too small for more than one person is an example of a(n) ________ constraint.
Q5) Resource Bottlenecks are one of the three more common problems encountered in managing multiproject resource schedules.
A)True
B)False
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Chapter 9: Reducing Project Duration
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Sample Questions
Q1) Which of the following is not considered a project indirect cost?
A)Supervision
B)Consultants
C)Equipment
D)Interest
E)All of these are considered project indirect costs
Q2) Low-cost, realistic, efficient methods for completing an activity under normal conditions are supported by ____ time.
A)Normal
B)Budget
C)Optimized
D)Expected
E)Target
Q3) The most common method for shortening project time is to
A)Subcontract activities
B)Compromise the quality
C)Add additional staff and equipment
D)Work overtime
E)Reduce the project scope
Q4) Draw a typical Project Cost-Duration Graph and label the key elements.
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Chapter 10: Leadership: Being an Effective Project Manager
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Sample Questions
Q1) Identify five of the eight traits associated with being a successful project manager.
Q2) Identify at least five of the typical group dependencies that project managers must manage.
Q3) In the Snapshot from Practice "Managing Expectations", one of the key aspects to project success was stated to be the managing of stakeholder:
A)Relations
B)Expectations
C)Involvement
D)Influence
E)Input
Q4) Identify five of the six aspects of leading by example.
Q5) The ______ related form of organization currency deals with individual needs and an overriding sense of self-esteem.
Q6) To be effective, project managers must "walk the talk", i.e.; lead by example.
A)True
B)False
Q7) We must have confidence in the ____________ of individuals before we really trust them.
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Chapter 11: Managing Project Teams
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Sample Questions
Q1) Project managers should encourage ___________ conflict.
Q2) During which stage of team development do team members try to find out what behaviors are acceptable and what performance expectations are?
A)Norming
B)Storming
C)Performing
D)Adjourning
E)Forming
Q3) Tom is managing a project team responsible for erecting a new office building.He notices that team members are trying out different behaviors to see what is acceptable to the project and personal relations.Which stage of development is the team in?
A)Norming
B)Storming
C)Performing
D)Adjourning
E)Forming
Q4) Symbolic actions at the project level can contribute to a unique team subculture are called ________.
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Chapter 12: Outsourcing: Managing Interorganizational Relations
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Q1) All conversations with outsourcers should be followed up with commitments documented in writing since they are likely to understand written English better than spoken English.
A)True
B)False
Q2) The __________ project, which created a transportation tunnel between France and England, involved more than 250 organizations.
Q3) The process for the transferring of business functions or processes to other, often foreign, companies has traditionally been known as:
A)Subcontracting
B)Downsizing
C)Partnering
D)Joint venture
E)Outsourcing
Q4) Identify the three steps you should take to confirm that the outsourcer thoroughly understands your requirements.
Q5) Identify the four advantages to outsourcing project work.
Q6) What is negotiation jujitsu?
14
Q7) What is partnering and why has it become popular for managing projects?
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Chapter 13: Progress and Performance Measurement and Evaluation
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Q1) The first step in creating a project control system for measuring and evaluating project performance is to ________.
Q2) The ________ is the rule most frequently used by practicing project managers to both assign costs to the baseline and to measure progress using earned value.
Q3) Briefly describe the general structure of a project monitoring information system for control.
Q4) The second step in the project control process of the measurement and evaluation of project performance is to:
A)Review the baseline plan with top management
B)Analyze inputs to control system
C)Compare plan against actual
D)Measure progress and performance
E)Review spending with team members
Q5) The method most frequently used in measuring project progress is the
A)0/100 percent rule
B)75/25 percent rule
C)50/50 percent rule
D)25/75 percent rule
E)Percent complete rule
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Chapter 14: Project Closure
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Sample Questions
Q1) Identify the five common parts to the final project report.
Q2) The most common circumstance for project closure is:
A)Premature completion with some features eliminated
B)Project completion meeting costs, schedule, and quality
C)Project completion after modification of costs, schedule, or quality
D)Project termination due to technical difficulties
E)Perpetual projects that seem to go on and on before completion
Q3) Part of the content of the final report typically includes profit made on the project.
A)True
B)False
Q4) Information on the project type, size, number of staff, and technology level would be included in which section of the audit report?
A)Analysis
B)Recommendations
C)Classification of project
D)Lessons learned
E)Strategic objectives
Q5) Explain what Lessons learned represent.
Q6) Some organizations have project closure checklists of over _____ wrap-up tasks!
Page 16
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Chapter 15: International Projects
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Sample Questions
Q1) Mexicans tend to be more cautious and want to spend more time discussing risks and potential problems that Americans might dismiss as improbable or irrelevant.
A)True
B)False
Q2) American project managers have earned a reputation abroad for being very good at understanding technology but not good at understanding:
A)Cultures
B)People
C)Local traditions
D)Local business practices
E)Laws
Q3) Which of the following can help a project manager to digest, clarify, and understand the factors leading to the selection of a specific project?
A)Risk matrix
B)Priority matrix
C)Responsibility matrix
D)Gantt chart
E)Contingency matrix
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Chapter 16: Oversight
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Sample Questions
Q1) What is Portfolio Project Management?
Q2) Phase 3 of the abridged, generic phase gated process is known as the _________ phase.
Q3) The abridged, generic phase gated process includes how many Go/Kill decision points?
A)Three
B)Four
C)Five
D)Six
E)Seven
Q4) During which of the following phase gates would the question of "Are time, costs, and scope performances within acceptable limits?" be answered?
A)Proposal
B)Screening and selection
C)Implementation
D)Progress evaluation
E)Closure
Q5) One study by Morris showed 45 percent of those surveyed use phase review gates.
A)True
B)False
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Chapter 17: An Introduction to Agile Project Management
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Sample Questions
Q1) All of the following are part of the Agile Project Management model except:
A)Flexibility
B)High uncertainty
C)Embrace change
D)Design up front
E)Self organized project teams
Q2) What are the questions asked at the daily scrum?
A)What have you done since the last Scrum?
B)What will you do between now and the next Scrum?
C)What is getting in the way (blocks) you from performing your work as effectively as possible?
D)What is the newest schedule changes?
E)A, B, and C are all questions
Q3) The daily scrum last _______ minutes.
Q4) _____________ employs business-driven prioritizations of requirements and features.
Q5) In the Snap Shot From Practice IDEO: Masters of Design.CEO Tim Brown recommends that _______ should only take as much time and effort needed to generate useful feedback and evolve an idea.
Q6) _________ can be a source of unpredictability.
Page 19
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Chapter 18: Project Management Career Paths
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Sample Questions
Q1) There is no set career path for becoming a project manager.
A)True
B)False
Q2) What should be your goal be as a project manager?
Q3) What are formal mentoring programs?
Q4) Many professionals find it beneficial to join the _____________.
Q5) One aspect of project managing that is unique is the temporary nature of
Q6) Once the project is complete tenure is granted to project managers.
A)True
B)False
Q7) Be careful to be involved in projects commensurate with your _______ as you are starting your project management career.
A)Abilities
B)Plans
C)Goals
D)Experience
E)All of the above
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Q8) Many project managers' careers began by volunteering for task forces and ____________.