SOLVED

11) Payback occurs when net costs equal net benefits accumulated over the project years. 12) In a decision tree, an alternative’s expected value is calculated by multiplying each possible payoff of the alternative by its probability and summing the results. 13) Posterior probability is the probability that an event will reflect established beliefs about the event before the arrival of new evidence or information. 14) The most important benefit of a project charter is that it authorizes a project and ensures that necessary resources and management commitments are provided to achieve success. 15) The ability to present outcomes effectively is a professional characteristic of a project manager. 16) Having a high energy level is a personal characteristic of a project manager. 17) The ability to plan projects effectively is an attribute of a project manager. 18) Technology employed in projects should not determine project team member selection. 19) It is not necessary to identify the stakeholders before a project is planned. 20) The more the authority and the responsibility are shared between the functional and project managers, the better the chances of project success.