Term
| What is not a characteristic of a project? |
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Definition
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Term
| What is the best example of a project? |
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Definition
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Term
Expectation of repeated (vs single) interaction might promote cooperation and will lead to
adaptions of behaviors is called: |
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Definition
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Term
| What are characteristics of temporary system with the aim of building a unique sip? |
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Definition
| Extensive preparation & organization based |
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Term
| project- based organizations are well suited for ..(1).. And ill-suited for ..(2).. |
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Definition
| (1) Innovation & learning , (2) economies of scale |
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Term
| What is the best definition of a project? |
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Definition
| Provides products within limited timescale and budget |
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Term
| Success of a product is best measured as: |
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Definition
| Creating all deliverables to specification and satisfaction of the client |
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Term
| What is a good reason to terminate a project before completion? |
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Definition
| Project risks are too high |
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Term
| Quality of the project can best be seen as: |
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Definition
| Deliverables that provide promised benefits to the end user |
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Term
| When is the amount of uncertainty in a project the highest? |
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Definition
Investigation stage
(side note from shipeng: the highest risks are in the first phase, the lowest risks are in the last
phase. This question could be asked the other way around (so lowest uncertainty) |
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Term
| Which activities are done before staring the next stage? |
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Definition
All of the above (which were: review previous phase to check all deliverables have been
completed & evaluate business case & approve of next stage |
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Term
| Which of the following is NOT used to identify stakeholders? |
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Definition
Grouping according to common interests
(other options were: following the money, following the signatures, looking at the charts) |
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Term
| Which phases do you look at to learn from for future projects? |
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Definition
| Implementation and close-out phases |
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Term
| In project based organizations, the team: |
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Definition
| Will not always have a functional department to return to after the project. |
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Term
| Piet does not know what work he needs to do on the project, where can he best look? |
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Definition
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Term
| What argument can you use to convince people to use a work breakdown structure? |
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Definition
| A wbs will prevent work from slipping through the cracks |
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Term
| Which elements of “scope” show what should be included/excluded in the project? |
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Definition
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Term
| Breaking down work to lower level in the work breakdown structure results in: |
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Definition
| Better control of the project. |
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Term
| What is illustrated better in Bar/Gantt chart than network diagrams? |
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Definition
| Progress or status reporting |
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Term
| If you ignore all resources, what is the shortest time duration to complete the project? (CHART!) |
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Definition
| 9 days (look at longest path) |
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Term
| What is the total slack of J&H respectively? (ignoring resources) (CHART!) |
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Definition
3 days / 2 days
( J = the line has 9 days to be finished but only takes 6 days, so 3 days left
H = dependent on J&G, use 5 days as standard (because that’s the longest path to reach H). Task H itself takes 2 days. So 9 – 5 – 2 = 2) |
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Term
| When considering allocated resources (who does what), what is the delay if Sue takes 3 days off (holiday). Remember she also has task G (CHART!) |
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Definition
2 days
If sue takes 3 days of the lines will be as follows:
First 3 days off, then task B will take from day 4-6, task J (by alan) will be on day 7, and task H (by mary) on day 8 and 9.
The other line which sue is in will be as follows:
Task A can start right away because it is done by John. It will be done on day 1 and 2.
On day 3 sue has holiday, and on day 456 she does task b. so she can do task G on day 7,8,9. Then mary can do task H on day 10,11. Without the holiday the project took 9 days (question 20) now the longest path is 11 days. That’s 2 more days. (so the answer is 2) |
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Term
| What is the recommended work schedule for Pete? (looking at resources as well!) (CHART!) |
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Definition
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Term
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Definition
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Term
| What is the most accurate and complete estimation method for creating a project cost estimate? |
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Definition
Bottom-up
(other options were: analogous, parametric, vendor bid) |
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Term
| A project has trouble keeping up with the quality, but the management team decided quality is the most important aspect. What should be done? |
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Definition
| Allow more time to increase quality by fixing the root cause of the problem |
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Term
| Performance dialogue (Kata discipline) (in correct order) |
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Definition
| What is target challenged, what is the condition now, what is the next step, what obstacles are you working on, what have we learned from taking that step |
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Term
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Definition
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Term
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Definition
| All steps undertaken before drawing up the balance sheet that aim at making the financial health of an organization at balance sheet date appear better than it really is. |
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Term
| What aspect (?) is: determining minimum deliver price |
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Definition
Management accounting
(other options were finance, financial accounting or a combination) |
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Term
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Definition
| When the economic lifespan is over, cost per product decline |
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Term
| What is not a cause for favorable price variance? |
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Definition
| Purchasing manager changed to a higher-price supplier |
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Term
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Definition
When price increases valuation will become low over time compared to its market value when LIFO is used.
(Shipeng comment: just learn the answer by heart) |
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Term
| What happens when period matching is not applied? |
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Definition
| Net income will be underestimated the first year, but overestimated the other years. |
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Term
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Definition
| Costs that cannot be directly allocated to the finished products. |
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Term
| (Know the costing methods, absorption costing & direct costing.) |
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Definition
| Under the absorption costing method, fixed manufacturing costs are moved intro inventories as inventories increase, and out of inventories as inventories decrease. |
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Term
| Every 5th of the month, the rent of the previous month is paid. On Jan 1, the rent increases from 500 to 550. What is the rent of that year? |
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Definition
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Term
Initial investment is 100.000
A minimum return of 10% is wanted
Cash flow year 1: 55000
Cash flow year 2: 60500
Cash flow year 3: 66550
What is the net present value? |
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Definition
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Term
What is liquidity? (bad, good etc)
Current ratio and quick ratio are given
Asset = cash + payments receivable
Liability = payable |
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Definition
| Answer was: the quality position worsened because the quick ratio decreased |
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Term
Turn over = 375000
Operating costs = 125000
Depreciation = 45000
Tax rate net profit = 25%
What is the cash flow? |
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Definition
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Term
Revenue 70000
Accounts receivable decrease from 7500 to 5000
Payments 35000, real costs 38000 which results in expense payable
Cash = 10000
Fixed assets = 120000
8% loan repayment of a 75000 loan was 15000 on December 31st
Interest was paid on the same day
What is the cash balance? |
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Definition
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Term
Cash balance = 30.000
Sales = 1.680.000 a year, evenly spread. 50% is on credit. Credit period is 1 month.
Each month products are bought for 50.000, credit is 1 month
Depreciation is 10.000 per month
Payroll is 50.000 per month
Rent is 24.000 which is paid twice a year. Once on march 31 and once on October 31.
In march there is 80.000 marketing costs
Other costs monthly are 20.000
On January first the cash is 30.000, receivable is 60.000 and payable is 55.000
What is the cash shortage? (after 3 months???) |
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Definition
29000 shortage
(do not take depreciation into account!) |
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