You are working on a project that the company has come to realize…
Question Answered step-by-step You are working on a project that the company has come to realize… You are working on a project that the company has come to realize is no longer the best way to allocate their resources. For example, it could be a project that was developing a product but now the marketplace has changed and the product may not sell as well as they originally thought. A company sometimes doesn’t want to “kill” or stop the project because they have already spent money on it. The tendency to continue investing in a losing project because of what it’s already cost is referred to as the ___________________.Group of answer choicescapacity planning sunk cost fallacy lean operations satisficing Flag question: Question 17Question 171 pts The initials “KPI” stand for which of the following terms?Group of answer choiceskey potential investments key performance indicators key progress indicators key passive intentions Flag question: Question 18Question 181 pts Which of the following reasons best describes why the idea of continuous progress is not accurate in a non-linear system? Group of answer choicesThe feedback loop breaks in non-linear systems. The homogeneity principal fails to take into account the feedback loops. The additivity principal prohibits feedback loops from occurring. Flag question: Question 19Question 191 pts Given the following scenario, which type of estimating are you using?You are painting your living room which is twice as large as your bedroom. Last year the cost to paint your bedroom was $200. You will be using the same type of paint for your living room so you estimate the cost to be $400. Group of answer choicesphase estimating iterative estimating parametric estimating top-down estimates Flag question: Question 20Question 201 pts In the construction field, project managers may spend a good deal of their time managing the entire _______________ selling goods or services in some situations and purchasing goods or services in others. Group of answer choicesagile process web-based design process currency exchange process procurement process Flag question: Question 21Question 211 pts The best way to understand the true costs of a product/service is to not focus solely on the up-front price, but turn your attention to the ________________, which includes both direct and indirect costs associated with the product or services.Group of answer choicestotal cost of ownership language in the RFP sustainability value lean-value price Flag question: Question 22Question 221 pts Read this scenario:The project team must deliver a marketing campaign for a new product. The project must be completed by February 20th and the budget it $200,000 dollars. One of the deliverables is a product brochure that will be used at sales events. The brochure is to be four pages in length with two of those pages devoted to illustrations and the other two will describe the product in detail. The brochure will be printed in black and white. The copy editor has been working on writing the content and is approached by the senior research analyst, Tanya. Tanya asks the copy editor to include an additional page of illustrations and the copy editor, William, agrees to this but does not go through the change process requirements to have it approved. Which of the following best describes this scenario?Group of answer choicescollaboration Schedule mismanagement employee motivation to produce a better brochure gold-plating Business Management Project Management PM 6020 Share QuestionEmailCopy link Comments (0)


