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23 Cards in this Set
- Front
- Back
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What is the PM's main role?
Pg 107 |
To perform integration management
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Name the Knowledge Area that is the only one to occur during all five process groups.
Pg 109 |
Integration Management
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List some things a Project Charter can do for a PM
Pg 113 |
1. Formally recognizes the existence of a project
2. It gives the PM authority to spend and commit resources 3. Provides objectives, high-level requirements, and success criteria 4. Identifies contraints and high-level risk 5. Uncovers assumptions 6. Links the work of the project to ongoing work of the org. |
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A 'Murder Board' is an example of a _________________ project selection method.
Pg. 119 |
Benefit Measurement Method (Comparative Approach)
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'Dynamic Programming' is an example of a _____________ project selection method.
Pg 119 |
Constrained Optimization Method (Mathmatical Approach)
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'Linear Programming' is an example of a _____________ project selection method.
Pg 119 |
Constrained Optimization Method (Mathmatical Approach)
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'Scoring Models' are an example of a _____________ project selection method.
Pg 119 |
Benefit Measurement Method (Comparative Approach)
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'Multi Objective Programming' is an example of a _____________ project selection method.
Pg 119 |
Constrained Optimization Method (Mathmatical Approach)
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'Peer Review' is an example of a _____________ project selection method.
Pg 119 |
Benefit Measurement Method (Comparative Approach)
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'Economic Models' are an example of a _____________ project selection method.
Pg 119 |
Benefit Measurement Method (Comparative Approach)
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'Integer Programming' is an example of a _____________ project selection method.
Pg 119 |
Constrained Optimization Method (Mathmatical Approach
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Present Value means the value today of future cash flows, what is the formula?
Pg 119 |
FV
PV = --------------- (1 = r) to n Where FV = Future Value, r = Interest Rate, n = number of periods (time) |
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Define NPV or Net Present Value
pg. 120 |
It is the present value of the total benefits (income or revenue) minus the costs over many time periods.
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An organization has two projects to choose from. Project A will take 3 years to complete and has an NPV of $45,000. Project B will take 6 years to complete and has an NPV of $60,000. Which is the better investment?
pg. 120 |
Project B, time is irrelevant to the final determination because it is already taken into account in the calculation.
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An Organization has two projects to choose: Project A with an IRR of 21% or Project B with an IRR of 15%. Which one is a better option?
pg. 121 |
Project A, the higher IRR the better when choosing.
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There are two projects from which to choose: Project A with a payback period of six months or Project B with a payback period of 18 months. Which one should the organization choose?
pg. 121 |
Project A, based on payback period alone the shorter the payback period the better.
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What does a cost benefit ratio of 1.7 mean?
pg. 121 |
Revenue is 1.7 times the costs.
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An organization has two projects to choose from: Project A with an NPV of $45,000 or Project B with an NPV of $85,000. What is the opportunity cost of selecting Project B?
Pg 122 |
$45,000
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An organization has a project with an initial budget of $1,000,000. The project is half complete, and has spent $2,000,000. Should the organization consider the fact that it is already $1,000,000 over budget when determining whether to continue the project?
pg. 123 |
No, the spent costs are 'sunk'.
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After a certain point, adding more input (resources) will not produce a proportional increase in productivity is known as ___________________________________.
Pg. 123 |
Law of Diminishing Returns
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Current Assets minus current liabilities is also known as _________________.
pg. 123 |
Working Capital
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The same amount of depreciation is taken each year. Example: A $1,000 item has a 10 year useful life and no salvage value, it would be depreciated at $100 per year. This type of depreciation is __________________________.
pg. 123 |
Straight Line Depreciation
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Double declining balance and sum of the years digits are examples of ________________________ depreciation.
pg. 123 |
Accelerated
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