Lab 6 – Chapter 7: Starting a Project Name:

Chapter 7, Section 1 Exercises

1. An end toward which effort is directed that has measurable outcomes is an __________ in this text.

2. A general statement of the direction an organization should take is a ______.

3. If a company has to make quarterly loan payments to the bank, this is an example of a negative _______ ______ (two words).

4. If you borrow $1,000 and have to pay back $1,010 a month later, the $10 dollars is the ___________________.

5. If a company had to choose between installing two different pieces of expensive equipment that had different expected lifetimes, different salvage values, and different production capabilities, it would compare the _______ _____ __ ________ (four words) for each option

6. On Google’s Web pages, it says that they want to Organize the world’s information and make it universally accessible and useful. This is an example of a _______ statement.

7. An influential person who is in favor of a project is one of the project _______________.

8. If upgrading the windows in a building costs $100,000 and it reduces heating and cooling costs by $5,000 a year, the investment in the window upgrade has a _____ ______ (two words) of twenty years.

9. The group that determines the need for a project is the ________ organization.

10. What are four parts of a well-written mission statement?

11. What is the primary mission of each of the following types of organizations: profit-making, not-for-profit, and government organizations?

12. What does it mean if the money spent on a project has a simple payback of five years?

13. Why is it important to identify project champions?

14. What is an example of funding for a project that is only available for a short period of time under special circumstances?

Chapter 7, Section 2 Exercises

1. How is the scope statement affected by the complexity of the project?

2. What negative aspect of the scope…