Project & Program Management

Question 1

Cost-Benefit Analysis

Answer 1

Jules Dupuit [1848] - Estimates total monetary benefit and cost to communities. If benefits/costs > 1 then project moves forward.

Question 2

Cost-Effectiveness Analysis

Answer 2

Select between competing projects - looks a current way of doing things versus proposed strategy

Question 3

Net Present Value

Answer 3

Monetary value of project discounted to today’s present value.

Question 4

Internal Rate of Return

Answer 4

If interest rate > market rate then financially beneficial

Question 5

Goals Achievement Matrix

Answer 5

Shows anticipated attainment of project’s goals - projects in rows, criteria in columns

Question 6

Linear Programing

Answer 6

Find optimum design for project using decision variables.

Question 7

Program Evaluation and Review Technique (PERT)

Answer 7

Shows interrelationships of project tasks - good for projects without precise timelines

Question 8

Critical Path Method

Answer 8

Longest pathway - each project task has known amount of time.